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Daily Current Affairs – May 26 & 27, 2024

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Daily Current Affairs - Banking - May 26 & 27, 2024

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National News

Central Council for Research in Ayurvedic Sciences to Launches PRAGATI-2024

  • The Central Council for Research in Ayurvedic Sciences (CCRAS), an autonomous body under the Ministry of Ayush, is hosting “Pharma Research in AyurGyan and Techno Innovation (PRAGATI-2024)” at the India Habitat Centre, New Delhi.
  • This interactive meeting focuses on exploring research opportunities and fostering collaboration between CCRAS and the Ayurveda drug industry.
  • The program will be inaugurated by Secretary Ministry of Ayush Rajesh Kotecha.
  • The objectives of PRAGATI-2024 include utilizing research outcomes and technologies developed by CCRAS, establishing robust networks for collaborative research in quality control, drug standardization, product development, and validation.

International News

Maldives to Introduce India’s RuPay Service to Strengthen Economy

  • The Maldives is set to introduce India’s RuPay payment system, a move expected to strengthen the Maldivian Rufiyaa.
  • Although no specific launch date has been announced, this initiative is seen as a step towards enhancing the country’s financial stability.
  • RuPay, created by the National Payments Corporation of India (NPCI), is India’s leading card payment network.
  • It is widely accepted across ATMs, point-of-sale (POS) devices, and online platforms in India.
  • Currently, RuPay is also accepted in several countries, including Bhutan, Nepal, Mauritius, UAE, and Singapore.
  • Maldives – Male (Capital) – Maldivian rufiyaa (Currency) – Mohamed Muizzu (President) – Dhivehi (Official Language)

Business and Economy

NSO predicted India's GDP grew by 5.9% in Q4 of FY24

  • The National Statistical Office (NSO) has projected the FY24 growth rate at 7.6 per cent, implicitly assuming 5.9 per cent growth in the fourth quarter of FY24.
  • During the first three quarters of FY24, the economy grew 8.2 per cent, 8.1 per cent, and 8.4 per cent, respectively.

Goldman Sachs ups India 2024 GDP forecast to 6.7%

  • Goldman Sachs revised upwards its forecast for India’s gross domestic product (GDP) growth for calendar year 2024 (CY24) by 10 basis points (bps) to 6.7 per cent, and expects the Reserve Bank of India (RBI) to cut interest rates in the fourth quarter of the current calendar year (Q4-CY24) / third quarter of the current fiscal year 2024-25 (Q3-FY25).
  • India’s, core inflation averaged 3.4 per cent year-on-year (YoY) in January till April 2024, is expected to bottom out in the second quarter Q2-CY24 and rise towards the 4 – 4.5 per cent mark in the second half of CY24.

India in trade deficit with nine of top 10 trading partners in 2023-24

  • India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24.
  • The deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, and Iraq
  • The trade deficit with China rose to $85 billion, Russia to $57.2 billion, Korea to $14.71 billion and Hong Kong to $12.2 billion in 2023-24 against $83.2 billion, $43 billion, $14.57 billion and $8.38 billion, respectively, in 2022-23.
  • China has emerged as India’s largest trading partner with $118.4 billion of two-way commerce in 2023-24, edging past the US.
  • The bilateral trade between India, and the US stood at $118.28 billion in 2023-24.
  • Washington was the top trading partner of New Delhi during 2021-22 and 2022-23.
  • India has a free trade agreement with four of its top trading partners – Singapore, the UAE, Korea and Indonesia (as part of the Asian bloc).
  • India has a trade surplus of $36.74 billion with the US in 2023-24.
  • America is one of the few countries with which India has a trade surplus.
  • The surplus is also there with the UK, Belgium, Italy, France and Bangladesh.
  • India’s total trade deficit in the last fiscal narrowed to $238.3 billion as against $264.9 billion in the previous fiscal.

Income Tax department notifies cost inflation index for current fiscal

  • The income tax department has notified the Cost Inflation Index for the current fiscal beginning April 2024, for calculating long-term capital gains arising from sale of immovable property, securities and jewellery.
  • The Cost Inflation Index (CII) is used by taxpayers to compute gains arising out of sale of capital assets after adjusting inflation.
  • The CII for financial year 2024-25, relevant to assessment year 2025-26, stood at 363, as per a notification of the Central Board of Direct Taxes (CBDT).
  • The CII number for 2023-24 financial year was 348 and for 2022-23 financial year it was 331.
  • the CII reflects the inflation in the economy, which causes the prices of goods and services to increase over time.
  • For the financial year 2023-24, the CII was set at 348.
  • The index for the following financial year, 2024-25, has been updated to 363, marking an increase of 15 points, which corresponds to an annual inflation rate of approximately 4.3 per cent.

SEBI cuts commodity delivery period in derivatives to three days

  • In a bid to improve liquidity in delivery-based commodity derivatives, market regulator Securities and Exchange Board of India (SEBI) has reduced the deliverable period to three days from five days effective from July 01 2024.
  • Based on representations received from market participants and deliberations by Commodity Derivatives Advisory Committee, the Minimum duration of staggered delivery stands revised to three working days.
  • The move will boost volumes of derivatives trading in agriculture commodities, and few metals as investors will be left with more days to trade without taking delivery.

Science and Technology

New national portal being launched to simplify health insurance claims

  • The Indian government is planning to launch a Unified portal that will process health insurance claims across hospitals all over India.
  • The National Health Claim Exchange (NHCX) is a one-stop-portal which is likely to be launched in the next two-three months.
  • This new portal will use a common data collection format and will contain all the necessary information needed by health insurance companies. It will aim to speed-up the pre-authorisation time and discharge approvals, bringing down insurance premiums.
  • Currently hospitals use different private portals to process insurance claims, which makes the process inconvenient for the consumers.
  • This NHCX portal will allow faster processing, and bring almost 50 insurance providers under the same umbrella.
  • This NHCX portal has been developed as part of Ayushman Bharat Digital Mission (ABDM) and designed to streamline the claim settlement process for everyone involved.

NASA Launches Small Climate Satellite to Study Earth’s Poles

  • NASA successfully launched the first of a pair of small climate satellites from the Rocket Lab’s Launch Complex 1 in Mahia, New Zealand.
  • The mission, dubbed PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment), aims to study heat emissions at the Earth’s poles, shedding light on the intricate interplay between these regions and global climate change.
  • The PREFIRE mission consists of two shoebox-sized CubeSats, each equipped with a sophisticated thermal infrared spectrometer capable of measuring the far-infrared radiation emitted by the Earth’s coldest and most remote regions.
  • By collecting this crucial data, scientists hope to better predict the impact of climate change on sea ice loss, ice sheet melt, and sea-level rise.
  • The second PREFIRE CubeSat is scheduled for launch in the coming days, also aboard an Electron rocket from the same launch complex.
  • Once both CubeSats are operational, following a 30-day checkout period, the mission is expected to operate for 10 months, gathering invaluable data on the Earth’s energy budget – the delicate balance between incoming heat energy from the Sun and the outgoing heat given off by the planet.
  • National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)

Appointments

RBI approves appointment of Pradeep Kumar Sinha as Part-time Chairman of ICICI Bank

  • The Reserve Bank of India has granted its approval for the appointment of Pradeep Kumar Sinha as the Part-time Chairman of ICICI Bank for a term of three years, starting from July 1, 2024.
  • He will step into the position vacated by C. Chaturvedi, who is due to retire as Non-Executive Part-time Chairman on June 30, 2024, at the close of business hours.
  • He has been a Government Nominee Director in numerous major Public Sector Undertakings like ONGC, IOCL, HPCL, BPCL, GAIL, etc.
  • In particular, he was on the Board of Indian Oil Corporation (IOCL) for about 7 years at a stretch and similarly on the Boards of BPCL and HPCL for about 6 years each.
  • He worked in the Power and Oil and Gas Ministries for about 15 years and held positions like – Financial Advisor and Special Secretary, Union ministry of Petroleum and Natural Gas; Secretary, Union ministry of Ports and Shipping; and Secretary Union ministry of Power.

Gitanas Nauseda Wins Lithuania’s Presidential Election

  • Incumbent Lithuanian President Gitanas Nauseda has won the presidential election defeating Ingrida Simonyte.
  • He was previously elected as president of Lithuania in 2019 and he is a former banker.
  • Lithuania – Vilnius (Capital) – Euro (Currency) – Gitanas Nausėda (President) – Ingrida Šimonytė (Prime Minister) – Lithuanian (Official Language)

Appointments Committee of Cabinet approves one-month extension in service of Chief of the Army Staff General Manoj Pande up to June 30, 2024

  • The Appointments Committee of Cabinet approved the extension in service of Chief of the Army Staff (COAS) General Manoj C Pande, PVSM, AVSM, VSM, ADC for a period of one month, beyond his normal age of superannuation (May 31, 2024), i.e. up to June 30, 2024, under Rule 16 A (4) of the Army Rules 1954.
  • He was appointed as the COAS on April 30, 2022.
  • He was commissioned in December 1982 in the Corps of Engineers (The Bombay Sappers).
  • General Sir Robert Lockhart was the 1st Chief of the Army Staff of India.

Vice Admiral Gurcharan Singh takes over as Commandant of the National Defence Academy

  • Vice Admiral Gurcharan Singh assumed the appointment as Commandant of the National Defence Academy.
  • He succeeds Vice Admiral Ajay Kocchar.
  • He is an alumnus of the National Defence Academy (Khadakwasla) and was commissioned into the Indian Navy on 1 July 1990.
  • He was awarded the Admiral Katarı Trophy for standing ‘First in Overall Order of Merit of his batch during ab initio training.
  • Under his command, INS Khukri was awarded the Chief of Naval Staff ‘Unit Citation’ in Dec 2011 for overall operational effectiveness and successful conduct of anti-piracy operations.
  • He has also been awarded the FOC-in-C Commendation (2002), the Nao Sena Medal (2020), and Ati Vishisht Seva Medal (2024).

Jetha Ahir elected as new chairman of NAFED

  • Jethabhai Ahir, has been elected uncontested as the chairman of the National Agricultural Cooperative Marketing Federation of India (NAFED) by the board comprising 21 directors.
  • He is also the chairman of Panchmahal’s Pancharmrut Dairy as well as the Panchmahal District Cooperative (PDC) Bank and has served as the deputy speaker of the Gujarat Assembly.
  • National Agricultural Cooperative Marketing Federation of India (NAFED) – 02/10/1958 (Established) – New Delhi (HQ) – Jethabhai Ahir (Chairman) – Ritesh Chauhan (MD)

Ranks and Indices

Indian-Born Nikesh Arora, Second-Highest Paid CEO In The US

  • Indian-born Nikesh Arora, the CEO of Palo Alto Networks, has landed the second spot on The Wall Street Journal’s 2023 list of highest-paid CEOs in the US.
  • With a compensation of $151.43 million, the 56-year-old’s earnings have surpassed those of many tech giants, like Meta’s Mark Zuckerberg and Google’s Sundar Pichai.
  • The highest-paid CEO in the USA is Hock Tan, CEO of Broadcom, whose pay package was nearly $162 million in 2023.

Awards and Recognitions

18-year-old pink e-rickshaw driver from UP wins UK's prestigious royal award

  • Arti an 18-year-old rickshaw driver from Bahraich district of Uttar Pradesh won prestigious Amal Clooney Women’s Empowerment Award, named after the world-renowned human rights barrister, at the Prince’s Trust Awards in London.
  • She was honoured for inspiring other young girls through her work with the government’s Pink E-rickshaw initiative, which provides safe transport for other women with a mission to drive change, quite literally.

Alejandra Marisa Rodríguez wins Miss Universe 2024

  • Alejandra Marisa Rodríguez, a 60-year-old lawyer and journalist from La Plata, has made history by winning the Miss Universe Buenos Aires pageant.
  • The pageant, which took place at the Corregidor Hotel in La Plata, saw Rodríguez outshine more than 30 other contestants to clinch the title.
  • Miss Universe is an annual international beauty pageant organized by the Miss Universe Organization, based in the United States and Thailand.
  • Sheynnis Palacios from Nicaragua clinched the Miss Universe 2023 title.
  • The Miss Universe pageant, established in 1952 for unmarried, childless women aged 18 to 28, has undergone a significant evolution in its standards, sparking global attention.
  • With revamped regulations embracing diversity, the pageant now welcomes women from diverse backgrounds and life stages, challenging traditional beauty norms.
  • This progressive stance redefines beauty, amplifies women’s voices, and fosters inclusivity, reflecting broader societal recognition of empowerment and individuality.

KIA bags Green Airports Recognition-2024 award

  • The Kempegowda International Airport (KIA) has bagged the silver award in the Airports Council International (ACI) Asia-Pacific & Middle East Green Airports Recognition (GAR) 2024.
  • The KIA bagged the silver award in the category of airports handling between 15 million and 35 million passengers a year.
  • ACI Asia-Pacific & Middle East has announced the results of GAR 2024, recognising 12 airports in Asia-Pacific and the Middle East for their outstanding accomplishments in sustainability projects.
  • The theme for the Green Airports Recognition 2024 is ‘Biodiversity and nature-based solutions’.
  • The recognised airports have been awarded in three categories – platinum, gold, and silver – based on various airport size categories and set criteria.
  • The airports are bracketed into four categories: over 35 million passengers a year, between 15 million and 35 million passengers, between 8 million and 15 million passengers, and less than 8 million passengers a year.
  • Among the airports handling between 15 million and 35 million passengers a year, the platinum and gold awards were given to Japan’s Kansai airport and Saudi Arabia’s King Khalid International Airport, respectively.
  • The other Indian airports to win the GAR 2024 are New Delhi’s Indira Gandhi International Airport (silver) in airports handling over 35 million passengers a year category and Lucknow’s Chaudhary Charan Singh International Airport (silver) in airports handling less than 8 million passengers a year category.

Sports News

Sports Ministry approves financial assistance for 12 para shuttlersKKR lifted the IPL for the third time

  • Kolkata Knight Riders (KKR) won the 2024 Indian Premier League (IPL) title by beating Sunrisers Hyderabad by eight wickets in the final at the A. Chidambaram Stadium in Chennai.
  • It is their 3rd trophy and previously won the title in 2014 and their first one in 2012.
  • Winner (₹20 crore)

    Kolkata Knight Riders

    Runner Up (₹12.5 crore)

    Sunrisers Hyderabad

    Emerging Player of the Season (₹10 Lakh)

    Nitish Kumar Reddy (SRH)

    Ultimate Fantasy Player of the Season (₹10 Lakh)

    Sunil Narine (KKR)

    Most Valuable Player (₹10 Lakh)

    Sunil Narine (KKR)

    Orange Cap (₹10 Lakh)

    Virat Kohli (RCB)

    Purple Cap (₹10 Lakh)

    Harshal Patel (PBKS)

    Most Sixes Award (₹10 Lakh)

    Abhishek Sharma (SRH)

    Most Fours Award (₹10 Lakh)

    Travis Head (SRH)

    Best Strike Rate Award (₹10 Lakh)

    Jake Fraser McGurk (DC)

    Catch of the Season (₹10 Lakh)

    Ramandeep Singh (KKR)

    Fair Play Award (₹10 Lakh)

    Sunrisers Hyderabad

    Pitch and Ground Award (₹50 Lakh)

    Rajiv Gandhi International Stadium, Hyderabad

  • Year

    Edition

    Winner

    Runner-up

    Most Valuable Player

    Purple Cap

    Orange Cap

    2008

    1st

    Rajasthan Royals

    Chennai Super Kings

    Shane Watson (RR)

    Sohail Tanvir

    (RR)

    22

    Shaun Marsh

    (KXIP)

    616

    2009

    2nd

    Deccan Chargers

    Royal Challengers Bangalore

    Adam Gilchrist (DC)

    RP Singh

    (DC)

    23

    Matthew Hayden

    (CSK) 

    572

    2010

    3rd

    Chennai Super Kings

    Mumbai Indians

    Sachin Tendulkar (MI)

    Pragyan Phja

    (DC)

    21

    Sachin Tendulkar

    (MI)

    618

    2011

    4th

    Chennai Super Kings

    Royal Challengers Bangalore

    Chris Gayle (RCB)

    Lasith Malinga

    (MI)

    28

    Chris Gayle

    (RCB)

    608

    2012

    5th

    Kolkata Knight Riders

    Chennai Super Kings

    Sunil Narine (KKR)

    Morne Morkel

    (DD)

    25

    Chris Gayle

    (RCB)

    733

    2013

    6th

    Mumbai Indians

    Chennai Super Kings

    Shane Watson (CSK)

    Dwayne Bravo

    (CSK)

    32

    Michael Hussey

    (CSK)

    733

    2014

    7th

    Kolkata Knight Riders

    Punjab Kings

    Glenn Maxwell (PBKS)

    Mohit Sharma

    (CSK)

    23

    Robin Uthappa

    (KKR)

    660

    2015

    8th

    Mumbai Indians

    Chennai Super Kings

    Andre Russell (KKR)

    Dwayne Bravo

    (CSK)

    26

    David Warner

    (SRH)

    562

    2016

    9th

    Sunrisers Hyderabad

    Royal Challengers Bangalore

    Virat Kohli (RCB)

    Bhuvneshwar Kumar

    (SRH)

    23

    Virat Kohli

    (RCB)

    973

    2017

    10th

    Mumbai Indians

    Rising Pune Supergiant

    Ben Stokes (RPS)

    Bhuvneshwar Kumar

    (SRH)

    26

    David Warner

    (SRH)

    641

    2018

    11th

    Chennai Super Kings

    Sunrisers Hyderabad

    Sunil Narine (KKR)

    Andrew Tye

    (PBKS)

    24

    Kane Williamson

    (SRH)

    735

    2019

    12th

    Mumbai Indians

    Chennai Super Kings

    Andre Russell (KKR)

    Imran Tahir

    CSK

    (26)

    David Warner

    (SRH)

    692

    2020

    13th

    Mumbai Indians

    Delhi Capitals

    Jofra Archer (RR)

    Kagiso Rabada

    (DC)

    30

    KL Rahul

    (PBKS)

    670

    2021

    14th

    Chennai Super Kings

    Kolkata Knight Riders

    Harshal Patel (RCB)

    Harshal Patel

    (RCB)

    32

    Ruturaj Gaikwad

    (CSK)

    635

    2022

    15th

    Gujarat Titans

    Rajasthan Royals

    Jos Buttler (RR)

    Yuzvendra Chahal

    (RR)

    27

    Jos Buttler

    (RR)

    863

    2023

    16th

    Chennai Super Kings

    Gujarat Titans

    Shubman Gill (GT)

    Mohammed Shami

    (GT)

    28

    Shubman Gill

    (GT)

    890

    2024

    17th

    Kolkata Knight Riders

    Sunrisers Hyderabad

    Sunil Narine (KKR)

    Harshal Patel (PBKS)

    24

    Virat Kohli (RCB)

    741

India finish campaign with 17 medals at 2024 World Para Athletics Championships

  • The Indian contingent finished with 17 medals at 2024 World Para Athletics Championships held in Kobe, Japan and placed sixth in the overall medal tally.
  • The country won a total of 6 gold medals, 5 silver medals, and 6 bronze medals to register their best-ever performance at the World Championships.
  • The previous record for India stood at 10 medals, which included 3 gold, at the 2023 World Para Athletics Championships held in Paris.
  • Before that India had won 9 medals (in 2019), five medals (in 2017), 2 medals (in 2015) and 1 medal (in 2013 and 2011).
  • China finished as the most successful country in the competition with a total of 87 medals, including 33 gold.
  • Brazil, Uzbekistan, Great Britain, and the United States, meanwhile, finished second, third, fourth, and fifth respectively.
  • Medal

    Winners

    Gold

    Mariyappan Thangavelu (Men’s High Jump T63), Sumit Antil (Men’s Javelin Throw F64), Sachin Khilari (Men’s Shot Put F46), Simran Sharma (Women’s 200m T12), Deepthi Jeevanji (Women’s 400m T20), Ekta Bhyana (Women’s Club Throw F51).

    Silver

    Yogesh Kathuniya (Men’s Discuss Throw F56), Nishad Kumar (Men’s High Jump T47), Rinku (Men’s Javelin Throw F46), Kashish Lakra (Women’s Club Throw F51), Bhagyashri Jadhav (Women’s Shot Put F34).

    Bronze

    Dharambir (Men’s Club Throw F51), Navdeep (Men’s Javelin Throw F41), Ajeet Singh (Men’s Javelin Throw F46), Sandeep (Men’s Javelin Throw F64), Preethi Pal (Women’s 100m T35), Preethi Pal (Women’s 200m T35).

India won 3 medals at 2024 Asian Relay Championships

  • The Indian athletic contingent won 3 medals – 1 gold and 2 silver at the 1st edition of Asian Relay Championships held in Bangkok, Thailand.
  • Medal

    Category

    Players

    Gold

    mixed 4×400 meters relay team

    Muhammed Ajmal, Jyothika Sri Dandi, Amoj Jacob and Subha Venkatesan

    Silver

    men’s 4×400 meters relay team against Srilanka (Gold)

    Muhammed Anas Yahiya, T Santosh Kumar, Mijo Chacko Kurian, and Arokia Rajiv

    Silver

    women’s 4×400 meters relay team against Vietnam (Gold)

    Vithya Ramraj, MR Poovamma, Rupal and Prachi Choudhary

ICC names Shahid Afridi as Men’s T 20 WC 2024 Brand Ambassador

  • The International Cricket Council (ICC), the world cricket governing body, has appointed Pakistan’s Shahid Afridi as the brand ambassador of the forthcoming 9th ICC Men’s T20 World Cup.
  • The tournament will be co-hosted by the West Indies and the United States of America from 1 to 29 June 2024.
  • He joins Indian Yuvraj Singh, Chris Gayle of West Indies, and Jamaican sprinter Usain Bolt as brand ambassadors for the event.
  • International Cricket Council (ICC) – 15/06/1909 (Founded) – Dubai,UAE (HQ) – Greg Barclay (Chairman) – 108 countries

PV Sindhu came runner-up in 2024 Malaysia Masters Badminton

  • Two-time Olympic medallist PV Sindhu defeated in the finals of the Malaysia Masters Badminton and came runner-up after Wang Zhiyi of China in Women’s single category held in Kuala Lumpur, Malaysia
  • Previously she won the Women’s Single title at Malaysia Masters Badminton in 2013 & 2016.

Dipa Karmakar Becomes First Indian Gymnast to Win Gold in Asian Senior Championships

  • Dipa Karmakar landed a gold medal in vault to become the first Indian gymnast to win the continental title in the Asian women’s artistic gymnastics championships in Tashkent, Uzbekistan.
  • It was her second medal in the championships after her bronze in Hiroshima in 2015.
  • Ashish Kumar (floor exercise, bronze, Surat, 2006) and Pranati Nayak (vault, bronze medals in Ulaanbaatar, 2019, and Doha, 2022) are the other Indians to claim Asian championships medals.

Important Days

International Missing Children's Day 2024 is observed on May 25

  • International Missing Children’s Day (IMCD) is annually celebrated on May 25.
  • The day is celebrated to commemorate the missing children who have found their way home, remember those who have been victims of crime, and continue efforts to find those who are still missing.
  • The symbol for IMCD is the forget-me-not flower.
  • May 25 is observed as Missing Children’s Day since 1983 in USA to mark anniversary of when six-year-old Etan Patz disappeared from a New York street corner on his way to school on 25 May 1979.
  • In 2001, May 25 was first observed as IMCD through the efforts of the International Centre for Missing and Exploited Children (ICMEC), Missing Children Europe, and the European Commission.

World Thyroid Day 2024 is observed on May 25

  • World Thyroid Day is annually celebrated on May 25.
  • The day is celebrated to raise awareness about the thyroid gland and the various conditions that affect it.
  • The thyroid gland, a small butterfly-shaped organ located at the base of the neck, produces two essential hormones: thyroxine and triiodothyronine.
  • These hormones are crucial for normal body functions, including metabolism, growth and development, and reproduction.
  • On May 25, 1965, the European Thyroid Association was founded.
  • In 2007, Thyroid Federation International (TFI) later declared May 25 as World Thyroid Day to commemorate the founding day of the European Thyroid Association.
  • Theme – “Non-Communicable Diseases (NCDs)”

Defence

INS Kiltan visited Burunei

  • Indian Naval Ship Kiltan arrived at Muara, Brunei and was accorded a warm welcome by the Royal Brunei Navy.
  • The visit is part of Operational Deployment of the Indian Navy’s Eastern Fleet to South China Sea.
  • This visit is poised to further strengthen the friendship and cooperation between the two maritime nations.
  • The visit by Indian Naval Ship Kiltan is focused on professional interactions, sports fixtures, social exchanges and community outreach reflecting the shared values of both nations and navies.
  • The visit will conclude with a Maritime Partnership Exercise at sea between the Indian Navy and Royal Brunei Navy.
  • The two navies will undertake tactical evolutions which will bolster interoperability and exchange of best practices.
  • INS Kiltan is the third of four P28 Anti-Submarine Warfare (ASW) Corvettes indigenously designed and built by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata.
  • Brunei – Bandar Seri Begawan (Capital) – Brunei dollar (Currency) – Hassanal Bolkiah (Sultan & Prime Minister) – Malay (Official Language)

Daily Current Affairs - May 26 & 27, 2024 - Consolidated

  • Central Council for Research in Ayurvedic Sciences to Launches PRAGATI-2024
  • Maldives to Introduce India’s RuPay Service to Strengthen Economy
  • NSO predicted India’s GDP grew by 5.9% in Q4 of FY24
  • Goldman Sachs ups India 2024 GDP forecast to 6.7%
  • India in trade deficit with nine of top 10 trading partners in 2023-24
  • Income Tax department notifies cost inflation index for current fiscal
  • SEBI cuts commodity delivery period in derivatives to three days
  • New national portal being launched to simplify health insurance claims
  • NASA Launches Small Climate Satellite to Study Earth’s Poles
  • RBI approves appointment of Pradeep Kumar Sinha as Part-time Chairman of ICICI Bank
  • Incumbent President Gitanas Nauseda Wins Lithuania’s Presidential Election
  • Appointments Committee of Cabinet approves one-month extension in service of Chief of the Army Staff General Manoj Pande up to June 30, 2024
  • Vice Admiral Gurcharan Singh takes over as Commandant, National Defence Academy
  • Jetha Ahir elected as new chairman of NAFED
  • Indian-Born Nikesh Arora, Second-Highest Paid CEO In The US
  • 18-year-old pink e-rickshaw driver from UP wins UK’s prestigious royal award
  • Alejandra Marisa Rodríguez wins Miss Universe 2024
  • KIA bags Green Airports Recognition-2024 award
  • KKR lifted the IPL for the third time
  • India finish campaign with 17 medals at 2024 World Para Athletics Championships
  • India won 3 medals at 2024 Asian Relay Championships
  • ICC names Shahid Afridi as Men’s T 20 WC 2024 Brand Ambassador
  • PV Sindhu came runner-up in 2024 Malaysia Masters Badminton
  • Dipa Karmakar Becomes First Indian Gymnast to Win Gold in Asian Senior Championships
  • International Missing Children’s Day 2024 is observed on May 25
  • World Thyroid Day 2024 is observed on May 25
  • INS Kiltan visited Burunei

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