AffairsMind

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 HOW PDF IS MADE?
Current Affairs is very important part of both Phase 1 and Phase 2 of RBI Grade B Examination. If we
analyze previous year papers of RBI Grade B we find that Current Affairs forms 70% of General
awareness of Phase 1, 85% of the ESI section of Phase 2 and 30% of the Finance Section of Phase 2.
This pdf shall cover both phase 1 and phase 2 syllabus. I have divided current affairs in the order of
their importance for your RBI Grade B exam. The order is as follows-
1. RBI Bulletins
2. Other regulators news
3. Reports
4. International Organization Current Affairs
5. National ESI and Finance Current Affairs (PIB Included)
6. State ESI and Finance Current Affairs
7. Bank and Insurance Current Affairs
8. Current Affairs (One liner)
Note : Words in purple are my comments to make you understand current affairs in a better way. So
while reading the pdf, you will feel that I am explaining difficult current affairs to you. This will
make information more retainable and producible in exam.

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 Table of Contents
1 RBI Bulletins / Current Affairs ............................................................................................................................................ 27
1.1 RBI Announces Interest Rate of 8% on Floating Rate Savings Bond (FRSB) 2034 ................................................... 27
1.2 Credit Card Spends Rise 27% to Rs 18.26Tn in FY24: RBI Data ............................................................................... 28
1.3 RBI Updated Guidance Note on Operational Risk Management to Extend it to NBFC .......................................... 31
1.4 RBI launches IESH & CCS to Get Inputs for June’s 2024 Monetary Policy............................................................... 34
1.5 RBI Revises banks’ Capital Market Exposure norms for T+1 settlement ................................................................ 35
1.6 RBI Allows Standalone Primary Dealers(SPDs) to Borrow in Foreign Currency ...................................................... 37
1.7 RBI Proposes Stricter Norms for Loans to Projects such as Roads and Ports ......................................................... 39
1.8 Inflation to reach Target in FY26: RBI’s State of the Economy Report .................................................................... 40
1.9 Inflation to reach Target in FY26: RBI’s State of the Economy Report .................................................................... 41
1.10 RBI Board Approves Dividend of Rs 2,10,874 Crore to Central Government for FY24 ........................................ 43
1.11 Unclaimed deposits in Banks reached Rs 42,270 crore as of March 2023: RBI Data ........................................... 45
1.12 RBI Launched PRAVAAH Portal, Retail Direct App and Fintech Repository for Enhanced Public Access ............ 48
2 Other Regulators News....................................................................................................................................................... 52
2.1 SEBI Amends Mutual Fund Regulations to Curb Fraudulent Practices ................................................................... 52
2.2 SEBI allows FPIs in GIFT City to take more investments from NRIs & OCIs ............................................................. 54

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 2.3 SEBI Made Mandatory Registration of PMS Distributors with APMI ...................................................................... 56
2.4 SEBI introduces Framework for Stock Exchanges to supervise RAs & Ias ............................................................... 58
2.5 IFSCA Permits Foreign Portfolio Investors(FPIs) to Issue Derivative Instruments with Indian Securities .............. 59
2.6 SEBI Mandates Standardized Periodic Reporting for Investment Advisers ............................................................ 61
2.7 SEBI extends Settlement Scheme period till Jun 10 in stock option cases ............................................................. 63
2.8 SEBI mandates NISM Certification Requirement for One Personnel of AIF Investment Manager Team .............. 64
2.9 SEBI relaxes KYC norms to Simplify Risk Management Framework ........................................................................ 65
2.10 LIC Received Approval from SEBI for Additional 3 years to meet MPS norms ..................................................... 67
2.11 SEBI revises Market Capitalization Computation Basis for LODR Regulations ..................................................... 69
2.12 IFSCA Sets up Committee Chaired by Rajeev Kher to Position GIFT City as “Global Trading Hub” ..................... 72
2.13 IRDAI Introduced New Corporate Governance Regulations for Insurers ............................................................. 73
2.14 IRDAI Introduced Flexibility in Procedural Norms on Expense of Management, Share Transfer ........................ 76
2.15 SEBI Introduced Framework to Determine Unaffected Price in Response to Market Rumour ........................... 79
2.16 SEBI amends rule to Facilitate Ease of Doing for Companies Planning IPOs ........................................................ 82
2.17 SEBI Amends Framework for Dynamic Price Bands for Scrips in Derivatives Segment ....................................... 85
2.18 SEBI Mandates Social Enterprises on SSE to Submit Annual Impact Report for FY24 ......................................... 89
2.19 SEBI Notified Framework for Issue of Subordinate Units in Privately Placed InvITs ............................................ 92
3 Reports ................................................................................................................................................................................ 94
3.1 India has Low Health Insurance Coverage for Older Citizens: ADB report ............................................................. 94

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 3.2 Overview of World Press Freedom Index 2024: India ranks 159th, Norway Tops ................................................. 97
3.3 World’s Wealthiest Cities Report 2024 by Henley & Partners: New York Tops...................................................... 99
3.4 India Received over USD 111 Billion in Remittances in 2022: UN’s International Organization for Migration(IOM)
101
3.5 World Bank Report: Annual Investments of USD 260 Billion Needed to Halve Agrifood Emissions by 2030;
Achieve Net Zero by 2050 ............................................................................................................................................ 104
3.6 India Overtakes Japan To Become World’s 3rd Largest Solar Power Generator .................................................. 106
3.7 Illegal trafficking of Wildlife Remains Prevalent: UNODC 3rd World Wildlife Crime Report ............................... 108
3.8 THE Young University Rankings 2024: Mahatma Gandhi University Tops Universities; Singapore’s NTU tops
globally among Indian .................................................................................................................................................. 111
3.9 WB Report “Water for Shared Prosperity” Highlights Importance of Access to Safe Drinking Water................. 113
3.10 WEF’s Travel & Tourism Development Index 2024: India ranked 39th; USA tops............................................. 116
3.11 Rangelands Faces Silent Demise Threatens Food Security; Losses 50% of Rangelands: UNCCD Report .......... 118
3.12 Global Carbon Emissions Pricing Raised Record USD 104 Billion in 2023: World Bank Report ......................... 121
3.13 Oxford Economics’ Global Cities Index 2024: Delhi ranks 350th & tops among Indian City; New York Tops 2024
Index ............................................................................................................................................................................. 123
3.14 THE Asia University Rankings 2024: IISc Topped among Indian Institutes; China’s Tsinghua University Tops . 126
3.15 Bank Credit Growth to Slip 200 bps to 14% in FY25: CRISIL Ratings .................................................................. 127
4 . International Organization Current Affairs ................................................................................................................... 130
4.1 UN’s 1st International Conference on DPI held under India’s Leadership in New York ....................................... 130

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 4.2 UAE-India CEPA Council inks MoU with Indian Chamber of Commerce ............................................................... 132
4.3 China emerged as Largest Trading Partner of India in FY24 with USD 118.4 Billion: GTRI Report ...................... 134
4.4 WHO Releases 1st Global Guidelines to Reduce Bloodstream Infections from Catheter Use ............................. 138
4.5 WIPO Concludes New Treaty on IP, GRs & ATK; Benefits Global South & India ................................................... 140
5 . National ESI & Finance Current Affairs .......................................................................................................................... 144
5.1 DoP Secretary, Dr. Arunish Chawla launches the Meditech Stackathon 2024 in collaboration with CII at New
Delhi ............................................................................................................................................................................. 144
5.2 India’s 1st Commercial Utility-Scale BESS Project Received Regulatory Approval ............................................... 146
5.3 NPCI issues Guidelines for Merchant Acquisition on BHIM Aadhar Pay ............................................................... 148
5.4 DoT organized ‘Telecom Design Collaboration Sprint’ in Bengaluru .................................................................... 149
5.5 MSDE and Mahindra & Mahindra launch Pilot Projects to Empower Women in Drone Technology .................. 151
5.6 ISRO Chief S. Somanath Launched Zero Emission Initiative of SFO Technologies ................................................ 154
5.7 IAF Conducts Maiden Airdrop Test of BHISHM, World’s 1st Air-Lifted Portable Hospital in Agra ....................... 155
5.8 AIC Signs MoU with CSC to Widen “Sampoorna Pashudhan Kawach” across Rural India ................................... 157
5.9 3AI Holding & SML Launched India’s GenAI Platform ‘Hanooman’ ...................................................................... 159
5.10 DAHD & UNDP India signs MoU on Digitalization of Vaccine Cold Chain Management ................................... 160
5.11 Federation of Indian Export Organisations (FIEO) Projected India’s Merchandise to Grow USD 500 to 510
Billion in FY25 ............................................................................................................................................................... 162
5.12 EPFO created 11.4% more formal jobs in FY24................................................................................................... 164

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 5.13 Logistics Startup Porter’s becomes India’s 3rd Unicorn in 2024 ........................................................................ 166
5.14 MoWCD Officially Dissolves Food & Nutrition Board ......................................................................................... 167
5.15 MoRTH releases New Driving License Rules w.e.f. June 1, 2024; Makes Driving Tests at RTO Optional .......... 169
5.16 Tata Communications Partners With Cisco To Launch Webex Calling in India .................................................. 173
5.17 India Develops First Research Testbed Facility to Study Norwesters................................................................. 176
5.18 Kerala Topped Unemployment Rate; Delhi Recorded Lowest for Q4 FY24: PLFS Survey.................................. 178
5.19 MHA Constituted High-Powered Committee to Tackle Increasing Cybercrimes Originating From SE Asian
Region ........................................................................................................................................................................... 183
5.20 IndianOil Equips Indian Army with Green Hydrogen Fuel Cell Bus; MoU Signed to Promote Hydrogen Fuel Cell
technology .................................................................................................................................................................... 185
5.21 Krish and Bhoomi: DD Kisan Launches its First AI Anchors in 50 Languages ..................................................... 187
5.22 NSDC & ILO Partners to Enhance Skill Development & Lifelong Learning ......................................................... 188
5.23 TCS & IIT-Bombay Partnered to Develop India’s 1st Quantum Diamond Microchip Imager ............................ 190
5.24 MEA, Meity and CSC eGovernance Signed MoU To Provide eMigrate Services Through CSC .......................... 191
6 . State ESI & Finance Current Affairs ................................................................................................................................ 194
6.1 IAF Conducted ‘Bambi Bucket’ Operation To Combat Forest Fires in Uttarakhand ............................................. 194
6.2 Assam Launched DRIMS For Reporting Damages During Disasters ...................................................................... 196
6.3 UP Rickshaw Driver Arti Won the UK’s Prestigious Royal Award In London......................................................... 197
7 . Bank & Insurance Current Affairs .................................................................................................................................. 201

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7.1 NIPL & Bank of Namibia inks Pact to Develop UPI-like Payment System for Namibia ......................................... 201
7.2 Mirae AMF Launched Nifty Mid Small-Cap 400 Momentum Quality 100 ETF ...................................................... 202
7.3 Infibeam’s CCAvenue Partners with Shivalik SFB to Boost Merchant Access ....................................................... 204
7.4 Canara HSBC Life Insurance Introduces Promise4Growth Plan ............................................................................ 205
7.5 Setu unveils Sesame, India’s 1st Domain-Specific LLM for BFSI sector ................................................................. 206
7.6 FPSB India Signed MoU with IFSCA to Promote GIFT-IFSC as a “Global Finance Hub”......................................... 208
7.7 BOI Signed MoU with Indian Coast Guard for “BOI Rakshak Package .................................................................. 209
7.8 HDFC Bank & AIM Empower Social Sector Start-Ups with Rs 19.6 Crore Grants ................................................. 211
7.9 SBI Becomes the 1st Bank as Trading-cum-Clearing Member (TCM) of IIBX ........................................................ 214
7.10 Bajaj Finserv Launches India’s 1st Multi Asset Allocation Fund with Dividend Yield Strategy .......................... 216
7.11 HDFC Bank Launched PIXEL – India’s First Virtual Credit Card ........................................................................... 218
7.12 TATA AIG General Insurance unveils India’s 1st Satellite In-Orbit Third-Party Liability Insurance policy ......... 221
7.13 SBI General Insurance Introduced ‘Bima Central’ Platform to Transform Customer Experience with Innovation
224
7.14 TATA AIG Partnered with Aurm To Offer Safe Vaults For Insurance Coverage ................................................. 225
7.15 MSCI Announced Changes in MSCI Global Standard Index: 13 Indian Firms Added & 3 Removed .................. 226
7.16 SBI Mutual Fund Launches SBI Automotive Opportunities Fund ....................................................................... 230
7.17 Yes Bank launches YES Grandeur for India’s Emerging Affluent Segment ......................................................... 233
7.18 Bank of Maharashtra tops among PSU banks in Business Growth in FY24; SBI FY24 net profit rises 21.59% .. 234

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 7.19 SIDBI & Airbus Helicopters Signed MoU for Helicopter Financing in India ........................................................ 238
7.20 TReDS Platform RXIL Crosses Rs 1 lakh crore in MSME Invoice Financing ......................................................... 239
7.21 SBI General Insurance Signed Bancassurance Partnership With JSFB To Increase Insurance Penetration ...... 240
7.22 Thomas Cook India Introduced TCPay For International Money Transfers ....................................................... 242
7.23 NIMF Launches Industry First Sonic Identity: ‘The Sound of Freedom’ ............................................................. 243
7.24 BSE: Market Capitalisation to GDP Ratio Records 15-year High of 140.2% ....................................................... 244
7.25 NSE Lowered Tick Size to 1 Paisa for Stock Price Below Rs 250 ......................................................................... 247
7.26 Government Set to Launch New National Portal “NHCX” to Simplify Health Insurance Claims ....................... 249
7.27 Bank of Maharashtra Introduces Maha Krishi Samrudhi Yojana to Offer Financial Support for Food & Agro-
Based Industries ........................................................................................................................................................... 251
8 . One liner Current Affairs ................................................................................................................................................ 254
8.1 2024 Pulitzer Prizes in Journalism, Books, Drama and Music: ProPublica won Prize under Public Service ......... 254
8.2 ACI Asia-Pacific & Middle East GAR Awards 2024; 3 Indian Airports Bagged ‘Silver’ Award ............................... 256
8.3 Adani’s Vizhinjam Port in Kerala Approved as India’s 1st Transshipment Port .................................................... 258
8.4 India Economy to Grow Faster than 7% in FY25: National Council of Applied Economic Research (NCAER) ...... 258
8.5 35th Goldman Environmental Prize: Chhattisgarh Bachao Andolan Leader Alok Shukla bags it ......................... 258
8.6 Indian-origin teacher Gina Justus Receives 2024 Cambridge Dedicated Teacher Award for Middle East and
North Africa (MENA) region. ........................................................................................................................................ 258

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8.7 Aligarh Muslim University (AMU) Professor Mohammad Rihan Took Charge as Director General of National
Institute of Solar Energy (NISE). ................................................................................................................................... 259
8.8 Hitesh Sethia Appointed as MD and CEO of Jio Financial Services Limited for 3 Years ........................................ 259
8.9 Yes Bank & ANQ Finance Partnered to Launch Pi and Phi Co-branded Credit Cards ........................................... 259
8.10 Neobank Fi Secures NBFC Licence from RBI ....................................................................................................... 259
8.11 Groww Receives Licence to Operate as Payment Aggregator from RBI ............................................................ 259
8.12 NHPC Ltd (formerly National Hydroelectric Power Corporation Limited) & Norway’s Ocean Sun Signed MoU to
Implement Floating Solar Energy Technology in India ................................................................................................ 260
8.13 Designer Bhavi Mehta wins Oxford Bookstore Book Cover Prize 2024 for ‘The Book Beautiful’ ...................... 260
8.14 Jeremiah Manele Sworn in as New Prime Minister of Solomon Islands ............................................................ 260
8.15 DRDO successfully tests Long-range Supersonic Missile-Assisted Release of Torpedo (SMART) system from
Odisha........................................................................................................................................................................... 260
8.16 FIDE Bestows Grandmaster(GM) Title to Indian Chess Player Vaishali Rameshbabu........................................ 260
8.17 Former RBI Governor D Subbarao launched a new book titled, ‘Just A Mercenary?: Notes from My Life and
Career’ .......................................................................................................................................................................... 261
8.18 Ministry of Mines Signed a MoU with Shakti for Sharing Knowledge in Critical Minerals ................................ 261
8.19 Army Dental Centre Research and Referral Releases Special Postal Cover for “Silver Jubilee” Celebration .... 261
8.20 RailTel and Quadrant Future Tek signed MoU to explore and deliver train collision avoidance system KAVACH
Globally......................................................................................................................................................................... 261

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8.21 Comptroller and Auditor General(CAG) of India Signed MoU with Auditor General of Nepal to Enhance Audit
Expertise ....................................................................................................................................................................... 261
8.22 Organisation for Economic Co-operation and Development (OECD) Revised India’s GDP Growth Forecast for
FY25 to 6.6% ................................................................................................................................................................. 262
8.23 Assam Conservationist Dr Purnima Devi Barman wins Whitley Gold Award 2024 ........................................... 262
8.24 Appointment Committee of the Cabinet (ACC) Appoints Sanjaya Kumar Mishra as President of Goods and
Services Tax Appellate Tribunal (GSTAT) ..................................................................................................................... 262
8.25 China Successfully Launches ‘Chang’e-6,’ World’s 1st Mission to Bring Samples from Moon .......................... 262
8.26 India to host Badminton World Federation (BWF) World Junior Badminton Championships 2025 in Guwahati
262
8.27 Flying Wedge Defence and Aerospace unveiled FWD-200B, India’s 1st Indigenous Bomber Unmanned Combat
Aerial Vehicle (UCAV) ................................................................................................................................................... 263
8.28 Fship Logistics Partners with India Post for Last-mile E-commerce Delivery Services ...................................... 263
8.29 IFFCO Receives FCO Approval for Nano Zinc Liquid, Nano Copper Liquid Fertilisers ........................................ 263
8.30 C-DAC developed Thermal Camera transferred to CP Plus; Meity launched ITS Booklet ................................. 263
8.31 Atanu Chakraborty Reappointed as Part-Time Chairman & Independent Director of HDFC Bank ................... 263
8.32 RBI Approves Appointment of Sanjeev Nautiyal as Next MD & CEO of Ujjivan SFB .......................................... 264
8.33 Mallika Nadda Appointed as Chairperson of Special Olympics Asia-Pacific Advisory Council .......................... 264
8.34 Dr. Subhransu Sekhar Acharya Assumed Charge as CMD of National Small Industries Corporation Limited
(NSIC) ............................................................................................................................................................................ 264

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8.35 Vice-Admiral Krishna Swaminathan Assumed Charge as Vice-Chief of Naval Staff ........................................... 264
8.36 German Company HyImpulse Launched Candle Wax-Powered Rocket on a Test Flight into Space................. 264
8.37 Former Minister José Raúl Mulino Elected as President of the Republic of Panama ........................................ 265
8.38 Rakesh Singh Appointed as CEO of Paytm Money .............................................................................................. 265
8.39 China defeats Indonesia to win BWF Thomas and Uber Cup 2024 Finals .......................................................... 265
8.40 Nepal government is set to introduced the new Rs 100 currency note featuring a map which includes the
controversial border territories of Lipulekh, Limpiyadhura and Kalapani of Uttarakhand in its strategic northwest
trijunction between India, Nepal and Cina. ................................................................................................................. 265
8.41 India and Ghana Agrees to Operationalise Unified Payment Interface (UPI) on Ghana Interbank Payment and
Settlement Systems (GHIPSS) in 6 months .................................................................................................................. 265
8.42 Ind-Ra Raises India’s GDP Growth Forecast for FY25 to 7.1% from 6.5% .......................................................... 266
8.43 UNICEF India appoints Kareena Kapoor Khan as its National Ambassador ....................................................... 266
8.44 Lando Norris marks his first victory in F1 career after winning Miami Grand Prix 2024 ................................... 266
8.45 Frank A. Shrontz, chairman emeritus & Former CEO of Boeing Co. Passed Away............................................. 266
8.46 IA Western Command & IAF conducted Joint Ex- Gagan Strike-II in Punjab...................................................... 266
8.47 Infosys Receives ISO 42001:2023 Certification for Artificial Intelligence Management System ....................... 266
8.48 Adani Green Energy Limited(AGEL) Signed a 20-year Agreement with Government of Sri Lanka for Wind
Power Stations ............................................................................................................................................................. 267
8.49 Scotland Parliament Elected John Swinney as its First Minister ........................................................................ 267
8.50 Coca-Cola India Announces First Ever Partnership with Hockey India for National Women’s Hockey League 267

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8.51 YES BANK Partnered with EBANX to Empower Cross-Border Commerce in India ............................................. 267
8.52 India contributes USD 500,000 to U.N. Trust Fund for Counter-Terrorism ....................................................... 267
8.53 Google Launched Google Wallet for Android Users in India .............................................................................. 267
8.54 Batillipes Chandrayaani: New Tardigrade Species Discovered from Coast of TN; Named After Chandrayaan-3
Mission ......................................................................................................................................................................... 268
8.55 Peucetia chhaparajnirvin: New Green Lynx Spider Discovered from Rajasthan ................................................ 268
8.56 Indian Boxers clinch 43 Medals at the ASBC Asian U-22 and Youth Boxing Championships 2024 ................... 268
8.57 Sahitya Akademi Award-winning Urdu litterateur Salam Bin Razzaq Passed Away .......................................... 268
8.58 Belize, Jamaica, St. Vincent and Grenadines Received WHO Certification for Eliminating Mother-to-Child
Transmission of HIV and Syphilis ................................................................................................................................. 268
8.59 RBI Lifts Restrictions on Bank of Baroda’s mobile app “BoB World”; Allows Onboarding Customers .............. 269
8.60 Securities and Exchange Board of India (SEBI) Gives Approval To CARE Ratings’ Subsidiary to Offer
Environmental, Social, and Governance (ESG) Ratings ............................................................................................... 269
8.61 Russian President Vladimir Putin Proposes Reappointment of Mikhail Mishustin as PM ................................ 269
8.62 Rizwan Koita Replaces Mahesh Verma as Chairperson of National Accreditation Board for Hospitals and
Healthcare Providers (NABH)....................................................................................................................................... 269
8.63 Kadet Defence Systems Introduced India’s 1st Loitering Aerial Munitions for Armed Forces .......................... 269
8.64 Astronomers Detect Rocky Planet “55 Cancri e” with Atmosphere................................................................... 270
8.65 The Indian National Space Promotion and Authorization Center (IN-SPACe) Signed MoU with GalaxEye For
Testing Facilities ........................................................................................................................................................... 270

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8.66 Ablennes joseberchmansis & Ablennes gracalii: ICAR-CMFRI Kochi Identifies 2 New Needlefish Species from
Indian Waters ............................................................................................................................................................... 270
8.67 Football: Mumbai City Beats Mohun Bagan 3-1 to Win the Indian Super League 2023-24 Final ..................... 270
8.68 Fomer Bureaucrat & Padma Bhushan Awardee Moosa Raza Passed Away ...................................................... 270
8.69 The Indian Coast Guard (ICG) Signed MoU with Hindalco For Indigenous Marine-Grade Aluminium ............. 270
8.70 Dileep Sanghani Re-elected as Chairman of IFFCO; Balvir Singh Retains Vice Chairman Position .................... 271
8.71 ISRO successfully tests AM PS4 Engine, a 3D Printed Rocket Engine at Mahendragiri, TN ............................... 271
8.72 The Defence Research and Development Organisation (DRDO) announced that one of its labs, Defence
Materials and Stores Research and Development Establishment (DMSRDE) has made Liquid Ramjet Fuel For
Advanced Air-Breathing Engine ................................................................................................................................... 271
8.73 NASA-JAXA XRISM Mission Discovered Iron Fingerprints in NGC 4151 ............................................................. 271
8.74 Renowned Punjabi Poet & Padma Shri Awardee Surjit Patar Passed Away ...................................................... 271
8.75 Hollywood Film Producer & Director Roger Corman Passed Away .................................................................... 272
8.76 Renowned Chess trainer & Kerala’s 1st International Master Varugeese Koshy Passed Away ........................ 272
8.77 7th India-France Joint Military “Ex-SHAKTI” 2024 Commences in Meghalaya .................................................. 272
8.78 India & Iran Signed a Long Term Contract to Operate Chabahar Port in Iran.................................................... 272
8.79 India’s Ramcharitmanas, Panchatantra and Sahṛdayāloka –Locana Included in UNESCO’s Memory of the
World (MOW) Register ................................................................................................................................................ 272
8.80 Hyderabad-based Greenko Zeroc Signed Green Ammonia Supply Pact with Norway’s Yara ........................... 272
8.81 IIFL Securities Limited Appointed Nemkumar as its New Managing Director (MD) .......................................... 273

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8.82 Magnus Carlsen Wins the 2024 Superbet Poland Rapid & Blitz; Praggnanandhaa Finishes Fourth ................. 273
8.83 Indian Javelin Thrower Neeraj Chopra finished second at the Doha Diamond League 2024............................ 273
8.84 Padma Shri Awardee Birubala Rabha, Anti-witch Hunting Crusader, Passed Away .......................................... 273
8.85 IAF Conducted ‘Bambi Bucket’ Operation To Combat Forest Fires in Uttarakhand .......................................... 273
8.86 Mazagon Dock Shipbuilders Ltd celebrates 250th Foundation Day ................................................................... 274
8.87 National Security Guard (NSG) holds 7th Joint Anti-Terror Mock Drills Exercise TARKASH with United States
(US) Special Operations Forces (SOF) in Kolkata ......................................................................................................... 274
8.88 India’s GDP is Projected to Grow at 6.6% in FY25: Moody’s Ratings ................................................................. 274
8.89 Renowned English Author Ruskin Bond Received Sahitya Akademi Fellowship ................................................ 274
8.90 The United Nations Development Programme has appointed Alain Noudéhou of Benin as the new Executive
Director of the UN Multi – Partner Trust Fund Office (MPTFO). ................................................................................ 274
8.91 Vice Admiral Sanjay Bhalla assumes charge as Chief of Personnel of Indian Navy ........................................... 275
8.92 Japan Launches World’s First 6G Device, 20 Times Faster Than 5G................................................................... 275
8.93 P.Shyam Nikhil Becomes India’s 85th Chess Grand Master (GM) ...................................................................... 275
8.94 Canadian Author & Nobel Laureate in Literature Alice Munro Passed Away .................................................... 275
8.95 Former Bihar Deputy CM Sushil Kumar Modi Passed Away ............................................................................... 275
8.96 Unemployment Rate at 6.7% in Q4FY24: 22nd Quarterly Periodic Labour Force Survey (PLFS) by National
Sample Survey Office (NSSO) ....................................................................................................................................... 275
8.97 India Extends Budgetary Support of USD 50 Million to Maldives ...................................................................... 275

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8.98 ReNew Signed MoU with Societe Generale for Energy Transition Projects of USD 1 Billion over Next 3 years
276
8.99 ADB Approves USD 148.5 Million Loan to Enhance Power Distribution System(PDS) of Sikkim ...................... 276
8.100 Forbes 30 Under 30 Asia 2024 features 86 Indians; includes Akshit Bansal, Raghav Arora & Bhagya Shree Jain
276
8.101 Lawrence Wong Becomes the New Prime Minister of Singapore ................................................................... 276
8.102 R Lakshmi Kanth Rao Assumed Charge as Executive Director of RBI .............................................................. 276
8.103 NASA Plans to Build ‘Flexible Levitation on a Track (FLOAT)’, the 1st Railway System on Moon ................... 276
8.104 Renowned Author, Storyteller & Padma Shri Awardee Malti Joshi Passed Away .......................................... 277
8.105 Anuradha Mascarenhas’s new book “At The Wheel of Research”, biography of former WHO Chief Scientist
Soumya ......................................................................................................................................................................... 277
8.106 Federation of Indian Chambers of Commerce and Industry (FICCI) signed a Memorandum of Understanding
(MoU) with India Electronics and Semiconductor Association (IESA), to promote innovation, bolster the
semiconductor and electronics industry and fortify spply chains. ............................................................................. 277
8.107 PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka ................................................ 277
8.108 India’s 2024 Economic Growth Projection Revised upwards to 6.9%: United Nations Department of
Economic and Social Affairs (UN-DESA),’s ‘World Economic Situation and Prospects (WESP) 2024 ........................ 277
8.109 Forbes’ World’s Highest-Paid Athletes 2024: Portuguese Soccer Player Ronaldo Tops ................................. 278
8.110 Indian National Space Promotion and Authorisation Centre (IN-SPACe) honoured with Geospatial World
Leadership Award at Geospatial World Leadership Award 2024 ............................................................................... 278

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8.111 Sela Tunnel of Arunachal Pradesh Recognised as India’s Highest Tunnel by International Book of Honour . 278
8.112 Former Union Minister Kapil Sibal Elected as President of Supreme Court Bar Association.......................... 278
8.113 Andrej Plenkovic Appointed as PM-Designate of Croatia for 3rd Term .......................................................... 278
8.114 Junta Leader Mahamat Déby Elected as President of Republic of Chad ......................................................... 279
8.115 Neeraj Chopra Wins Gold Medal in 27th National Federation Senior Athletics Competition 2024 ............... 279
8.116 Former Gujarat Governor & Veteran Congress Leader Kamla Beniwal Passed Away .................................... 279
8.117 World Hydrogen 2024 Summit & Exhibition Held in Netherlands: India set up its Maiden Pavilion ............. 279
8.118 IndiaFirst Life Insurance Approved the Appointment of Rushabh Gandhi as its New MD and CEO .............. 279
8.119 Pakistan Conducted Training Launch of ‘Fatah-II’, an Indigenous Rocket System .......................................... 279
8.120 Researchers Discovered “Super fluffy” Exoplanet with Cotton candy-like Density ........................................ 280
8.121 Australia & Uzbekistan Confirmed as Host of Asian Football Confederation (AFC) Women’s Asian Cup 2026 &
2029 280
8.122 Padma Awardee and Former Chairman of ICICI Bank, Narayanan Vaghul passed away ................................ 280
8.123 ITC Chairman Sanjiv Puri Take Charge as President of Confederation of Indian Industry (CII) for 2024-25 .. 280
8.124 William Lai Ching-te Sworn in as 16th President of Taiwan; Bi-khim Hsiao Took Oath as Vice President ..... 280
8.125 ISRO’s Mangalyaan-2 Mission to Include Helicopter, Sky Crane, Rover for Navigation on Mars ................... 281
8.126 Blue Origin’s NS-25 mission Lifted off with 6 Crew Members Including One Indian ...................................... 281
8.127 Satwiksairaj Rankireddy and Chirag Shetty won the doubles title in Badminton World Federation (BWF)
Thailand Open 2024 ..................................................................................................................................................... 281

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8.128 Max Verstappen beats Lando Norris to win the Emilia-Romagna Grand Prix 2024 ........................................ 281
8.129 Brazil Declared Host of FIFA Women’s World Cup 2027 ................................................................................. 281
8.130 Iran President Ebrahim Raisi Passed away; Mohammad Mokhber Takes Charge as Interim President ........ 282
8.131 ICRA: India’s GDP Growth to Dip to Four-quarter low of 6.7% in Q4 of FY24 ................................................. 282
8.132 RITES signs pact with Bangladesh Railway to Supply 200 BG Passenger Coaches .......................................... 282
8.133 Indian Oil Corporation Limited (IOCL) Exports 1st consignment of India’s 1st Premium Fuel “XP100” to Sri
Lanka 282
8.134 Bloomberg Billionaires Index May 2024: Mukesh Ambani & Gautam Adani among top 15 .......................... 282
8.135 Luis Abinader Re-elected as President of Dominican Republic for 2nd Term ................................................. 282
8.136 GalaxEye Space Solutions Pvt Ltd, has successfully tested its Synthetic Aperture Radar (SAR) technology on a
subscale High Altitude Pseudo-Satellite (HAPS) developed by the Council of Scientific and Industrial Research (CSIR)
– National Aerospace Laboratries (NAL). With this, GalaxEye becomes the world’s 1st private entity to conduct SAR
trials on the HAPS platform. ........................................................................................................................................ 283
8.137 Microsoft introduces ‘Copilot+ PCs’ featuring advance AI .............................................................................. 283
8.138 German Author Jenny Erpenbeck and Translator Michael Hofmann Won International Booker Prize 2024 for
‘Kairos’ .......................................................................................................................................................................... 283
8.139 To Lam Named as the New President of Vietnam ........................................................................................... 283
8.140 RBI Approved the Appointment of Pradeep Natarajan as Whole Time Director of IDFC First Bank .............. 283
8.141 India Finishes Third, Kazakhstan Tops the Medal Tally of the Elorda Cup Astana 2024 ................................. 284
8.142 Magnus Carlsen Won the Casablanca Chess Tournament 2024; Anand Secured 3rd Position ...................... 284

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8.143 Spain Becomes 99th Member of International Solar Alliance (ISA) ................................................................ 284
8.144 Mahindra Finance Receives IRDAI Approval to Sell Insurance Products as Corporate Agent ........................ 284
8.145 Ligdus Garvale: New Spider Species Identified in Karnataka ........................................................................... 284
8.146 Oscar-award-winning American Film Producer Fred Roos Passed Away ........................................................ 284
8.147 Oscar-winning Polish Music Composer Jan A.P. Kaczmarek Passed Away ...................................................... 285
8.148 GoI Appoints Sheel Nagu as Acting Chief Justice (ACJ) of Madhya Pradesh High Court; R Mahadevan as ACJ
of Madras HC ................................................................................................................................................................ 285
8.149 Indian-Origin Scientist Shrinivas R. Kulkarni won the Prestigious Shaw Prize in Astronomy for 2024 ........... 285
8.150 Thiruvananthapuram International Airport Becomes the 1st Airport to achieve Zero Waste to Landfill (ZWL)
accolade awarded by the CII-ITC CESD (Centre for Excellence for Sustainable Development) ................................. 285
8.151 Delhi HC Appointed Justice Najmi Waziri as Chairperson of Administrative Committee of Equestrian
Federation of India (EFI). ............................................................................................................................................. 285
8.152 Former Ambassador Allamaye Halina Appointed as New Prime Minister of Chad ........................................ 286
8.153 Emblica chakrabartyi: New Plant Species Discovered in Kerala ...................................................................... 286
8.154 According to the Wall Street Journal (WSJ)’s list of the highest-paid Chief Executive Officers (CEOs) in the
United States of America (USA) for 2023. Indian-origin Nikesh Arora, chairman and CEO of Palo Alto Networks
became the world’s 2nd highest-paid CO in 2023 with a substantial remuneration of USD 151.43 million
(approximately Rs 1,260 crore). .................................................................................................................................. 286

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8.155 Arti(18), a rickshaw driver from Uttar Pradesh (UP) has won the prestigious Amal Clooney Women’s
Empowerment Award at the Prince’s Trust Awards, an event that celebrates the achievements of young people
from around the world in London, United Kingdom (UK. ........................................................................................... 286
8.156 Former Cabinet Secretary Pradeep Kumar Sinha Appointed as Non-Executive Part-Time Chairman Of ICICI
Bank 287
8.157 Shahid Afridi Joins Yuvraj Singh, Chris Gayle As Tournament Ambassador For ICC Men’s T20 World Cup 2024
287
8.158 IAF Conducted Night Vision Goggles-aided Landing of C-130J Aircraft in Eastern Sector .............................. 287
8.159 Asian Relay Championships 2024 – Indian mixed 4x400m team wins gold and men’s and women’s 4x400m
teams win silver medals ............................................................................................................................................... 287
8.160 The International Olympic Committee (IOC) Launched “Let’s Move India” Campaign to inspire people to
celebrate Athletes at Paris Olympics ........................................................................................................................... 287
8.161 The Prudential Authority of the South African Reserve Bank (SARB), the central bank of South Africa (SA),
has imposed a financial penalty of 10 million rand (~Rs 4.5 crore) on the State Bank of India (SBI)’s SA branch for
violating anti-money laundering aws in SA. ................................................................................................................ 288
8.162 Goldman Sachs Revised India’s 2024 GDP Growth Projection Upwards to 6.7%; Expects RBI Rate Cut in Q4
288
8.163 Power Grid Corporation of India Limited (POWERGRID) Receives Association for Talent Development (ATD)
BEST Awards 2024 for the 3rd time in Learning & Development (L&D) Field; NTPC Secures 3rd Rank Globally...... 288
8.164 Vice Admiral Gurcharan Singh Assumes Charge as Commandant, National Defence Academy .................... 288
8.165 Gitanas Nauseda Re-elected as the President of Lithuania for 2nd Term....................................................... 288

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8.166 NASA Launches Small Climate Satellite PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment) from
New Zealand’s Rocket Lab’s Launch Complex to Study Earth’s Poles ........................................................................ 289
8.167 SpaceX Launched 1st Batch of Satellites for New U.S. Spy Constellation ....................................................... 289
8.168 Iran’s Bardiya Daneshwar won Sharjah Masters 2024 in Chess; India’s Divya Deshmukh won Challengers
2024 Title ...................................................................................................................................................................... 289
8.169 Malaysia Masters 2024 – PV Sindhu finishes runner-up in the Women’s Singles; Viktor Axelsen wins the
Men’s Singles title ........................................................................................................................................................ 289
8.170 Oscar Winning American Songwriter Richard M. Sherman Passed Away ....................................................... 289
8.171 RBI Imposes Monetary Penalty on ICICI Bank, Yes Bank For Rule Violations .................................................. 289
8.172 77th Cannes Film Festival: Sean Baker’s Anora won Palme d’Or & Payal Kapadia’s All We Imagine As Light
won Grand Prix ............................................................................................................................................................. 290
8.173 DRDO Chairman Samir V Kamat Gets One Year Extension in Service ............................................................. 290
8.174 Indian Premier League 2024: Kolkata Knight Riders won the championship defeating Sunrisers Hyderabad
290
8.175 Dipa Karmakar Becomes 1st Indian Gymnast to Win Gold Medal at Asian Gymnastics Championships 2024
290
8.176 Archery World Cup 2024: Indian Women’s Compound Team Wins Gold & Mixed Team Wins Silver ........... 290
8.177 Formula 1: Ferrari’s Charles Leclerc wins Monaco F1 GP 2024 ....................................................................... 290
8.178 Poonawalla Fincorp & IndusInd Bank Jointly Launch Co-branded Poonawalla Fincorp IndusInd Bank eLITE
RuPay Credit Card ........................................................................................................................................................ 291

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8.179 GoI Announces USD 1 Million Immediate Relief Aid for Landslide-Hit Papua New Guinea ........................... 291
8.180 Indian-Origin Sculptor Anish Kapoor Topped the 6th Hurun India Art List 2024 ............................................ 291
8.181 Emmanuelle Soubeyran Elected as New Director General of World Organisation for Animal Health (WOAH)
291
8.182 Jetha Ahir Elected as Chairman of National Agricultural Cooperative Marketing Federation of India Ltd
(NAFED) ........................................................................................................................................................................ 291
8.183 Oedocladium sahyadricum: New Algal Species Discovered in Western Ghats ............................................... 292
8.184 The Indian Institute of Technology Kanpur (IITK) has partnered with the Defence Research and Development
Organisation (DRDO) and inaugurated the DRDO-Industry-Academia Centre of Excellence (DIA CoE) on IITK campus
for interdisciplinary research in next-gneration defence technologies...................................................................... 292
8.185 SBI Research Report: India’s GDP Growth Likely to Touch 8%; 7.4% GDP Growth for Q4FY24...................... 292
8.186 Muthoot Pappachan Group Named Actor Shah Rukh Khan as its Brand Ambassador ................................... 292
8.187 Agnikul Cosmos launched Agnibaan SOrTeD (SubOrbital Technological Demonstrator) powerd by World’s
1st 3D Printed Semicryogenic Rocket Engine .............................................................................................................. 292
8.188 DRDO Successfully Conducted the Flight-test of RudraM-II Air-to-Surface Missile from Su-30 MK-I off the
Odisha Coast ................................................................................................................................................................ 293
8.189 South Korea Completes Development of Long-Range Surface-to-Air Missile (L-SAM) system ...................... 293
8.190 Indian Arm Wrestlers won 7 medals at the Asian Arm-wrestling Championship 2024 .................................. 293
8.191 Oscar Winning Canadian Film Producer Albert S. Ruddy Passed Away ........................................................... 293
8.192 Ayushman Bharat Diwas 2024 – April 30 ......................................................................................................... 293

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8.193 International Jazz Day 2024 – April 30 ............................................................................................................. 293
8.194 World Immunization Week 2024 – 24 to 30 April............................................................................................ 294
8.195 International Workers’ Day 2024 – May 01 ..................................................................................................... 294
8.196 World Tuna Day 2024 – May 2 ......................................................................................................................... 294
8.197 World Press Freedom Day 2024 – May 3 ......................................................................................................... 294
8.198 International Sun Day 2024 – May 3 ................................................................................................................ 294
8.199 International Leopard Day 2024- May 3........................................................................................................... 294
8.200 International Firefighters’ Day 2024 – May 4................................................................................................... 294
8.201 World Laughter Day 2024 – May 5 ................................................................................................................... 294
8.202 World Hand Hygiene Day 2024 – May 5........................................................................................................... 295
8.203 International Day of the Midwife 2024 – May 5 .............................................................................................. 295
8.204 World Cartoonist Day 2024 – May 5 ................................................................................................................ 295
8.205 World Portuguese Language Day 2024 – May 5 .............................................................................................. 295
8.206 African World Heritage Day 2024 – May 5 ....................................................................................................... 295
8.207 International No Diet Day 2024 – May 6 .......................................................................................................... 295
8.208 World Asthma Day 2024 – May 7 ..................................................................................................................... 295
8.209 65th Border Roads Organisation Raising Day – 7 May 2024 ........................................................................... 296
8.210 World Athletics Day 2024 – May 7 ................................................................................................................... 296
8.211 World Red Cross and Red Crescent Day 2024 – May 8 .................................................................................... 296

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8.212 World Thalassaemia Day 2024 – May 8 ........................................................................................................... 296
8.213 Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War – 8-
9 May 2024 ................................................................................................................................................................... 296
8.214 International Day of Argania 2024 – May 10 ................................................................................................... 296
8.215 National Technology Day 2024 – May 11 ......................................................................................................... 296
8.216 World Migratory Bird Day 2024 – May 11 ....................................................................................................... 297
8.217 International Day of Plant Health 2024 – May 12 ............................................................................................ 297
8.218 International Nurses Day 2024 – May 12 ......................................................................................................... 297
8.219 International Day of Families 2024 – May 15................................................................................................... 297
8.220 International Day of Living Together in Peace 2024 – May 16 ........................................................................ 297
8.221 International Day of Light 2024 – May 16 ........................................................................................................ 297
8.222 National Dengue Day 2024 – May 16 ............................................................................................................... 297
8.223 World Telecommunication and Information Society Day 2024 – May 17 ...................................................... 298
8.224 World Hypertension Day 2024 – May 17 ......................................................................................................... 298
8.225 Endangered Species Day 2024 – May 17 .......................................................................................................... 298
8.226 International Day Against Homophobia, Transphobia, and Biphobia 2024 – May 17 .................................... 298
8.227 International Museum Day 2024 – May 18 ...................................................................................................... 298
8.228 World AIDS Vaccine Day 2024 – May 18 .......................................................................................................... 298
8.229 International Day for Women in Maritime 2024- May 18 ............................................................................... 298

For any feedback and query, kindly mail at [email protected]

8.230 World Bee Day 2024 – May 20 ......................................................................................................................... 299
8.231 World Metrology Day 2024 – May 20 .............................................................................................................. 299
8.232 World Day for Cultural Diversity for Dialogue and Development 2024 – May 21 .......................................... 299
8.233 International Tea Day 2024 – May 21 .............................................................................................................. 299
8.234 National Anti-Terrorism Day 2024 – May 21 .................................................................................................... 299
8.235 International Day for Biological Diversity 2024 – May 22................................................................................ 299
8.236 International Day to End Obstetric Fistula 2024 – May 23 .............................................................................. 299
8.237 World Turtle Day 2024 – May 23 ...................................................................................................................... 300
8.238 International Day of Vesak or Buddha Purnima 2024 – May 23 ...................................................................... 300
8.239 First-Ever UN International Day of the Markhor 2024 – 24 May ..................................................................... 300
8.240 Indian Commonwealth Day 2024 – May 24 ..................................................................................................... 300
8.241 World Schizophrenia Awareness Day 2024 – May 24 ...................................................................................... 300
8.242 First-Ever UN World Football Day – 25 May 2024 ........................................................................................... 300
8.243 International Day of Missing Children 2024 – May 25 ..................................................................................... 300
8.244 World Thyroid Day 2024 – May 25 ................................................................................................................... 300
8.245 World Hunger Day 2024 – May 28 ................................................................................................................... 301
8.246 International Day of Action for Women’s Health 2024 – May 28 ................................................................... 301
8.247 World Menstrual Hygiene Day 2024 – May 28 ................................................................................................ 301
8.248 International Day of United Nations Peacekeepers 2024 – May 29................................................................ 301

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8.249 World Digestive Health Day 2024 – May 29 ..................................................................................................... 301
8.250 International Everest Day 2024 – May 29 ........................................................................................................ 301
8.251 UN’s First-Ever International Day of Potato – 30 May 2024 ............................................................................ 301
8.252 World Vape Day 2024 – May 30 ....................................................................................................................... 302

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 1 RBI Bulletins / Current Affairs

1.1 RBI Announces Interest Rate of 8% on Floating Rate Savings Bond (FRSB) 2034
 Reserve Bank of India (RBI) Floating Rate Savings Bond (FRSB) 2034:
 RBI has announced an 8% interest rate on the Floating Rate Savings Bond (FRSB)
2034, a special type of bond issued by the Government of India (GoI) that
matures in 2034.
 This bond is a variable rate bond, with the interest rate changing every 6 months.
 Key Points about FRSB:
 The interest rate is determined based on the average yield of recent auctions for
short-term government debt, specifically Treasury Bills, and depends on market
conditions.
 Interest on FRSBs is paid semi-annually, with the first installment on 1st January
and the second on 1st July of every year, without provision for cumulative
interest payments.
 FRSBs have a maturity period of 7 years.
For any feedback and query, kindly mail at [email protected]
  The minimum investment amount for FRSBs is Rs 1000, and there is no maximum
limit on the investment amount.
 The current interest rate on FRSB is 8% from 30th April, 2024, to 29th October,
2024. This rate is calculated by averaging the interest rates from the previous 3
auctions of short-term government debt with a marginal addition of a fixed
amount (0.98%).
 Benefits of FRSBs:
 FRSBs provide security to investors as they are backed by the Government of
India (GoI).
 They offer flexibility, with the interest rate adjusting upwards when the
benchmark interest rate increases.
1.2 Credit Card Spends Rise 27% to Rs 18.26Tn in FY24: RBI Data
 Credit Card Spending in FY23-24:
 Credit card spending surged by 27% year-on-year (Y-o-Y) to Rs 18.26 trillion in
financial year 2023-24 (FY24) from nearly Rs 14 trillion in FY23.
 In March 2024, credit card spending rose by nearly 10.07% to Rs 1.64 trillion from

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 Rs 1.49 trillion in February 2024, attributed to financial year closures and festival
sales during March.
 Total credit card transactions in March 2024 amounted to Rs 1.64 trillion, higher
by 19.8% Y-o-Y and 10.2% on month. This includes Point of Sale (PoS) transactions
rising to Rs 60,378 crore and e-commerce payments increasing to Rs 1.05 trillion
from Rs 95,000 crore.
 Top 4 Credit Card Issuers Market Share:
 During FY24, the market share of the top four credit card issuers in India: HDFC
Bank, SBI Card, ICICI Bank, and Axis Bank, decreased to 71.98% in March 2024
from 74.79% in March 2023.
 This decrease is attributed to overall spending expansion and increased growth
among mid-sized players, as per RBI data. It's observed both in terms of monthly
card spends and total cards outstanding.
 Credit Card Transactions:
 HDFC Bank led in credit card transactions with Rs 43,471.29 crore in March 2024,
8.57% higher than Rs 40,288.51 crore in February 2024.

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 Axis Bank recorded a growth of 8.05%, reaching Rs 18,941.31 crore, while ICICI
Bank saw a 14.49% rise to Rs 30,733.11 crore.
 SBI Card‘s transactions rose by 7.32% to Rs 24,949.17 crore.
 The share of credit card spend of these four banks in March 2024 was 71.98%
amounting to Rs 1,18,381 crore.
 The share of the next 10 issuers (ranked 5th to 14th) grew to 24.85% as at the
end of FY24 as against 22.35% in FY23.
 Credit Card Issuance:
 The total number of credit cards issued in India reached 101 million in March
2024.
 HDFC Bank led in card issuance at 20.59 million, followed by SBI Card (18.89
million), ICICI Bank (16.95 million), and Axis Bank (14.21 million).
 There were net card additions of 1.6 crore during FY24, of which these top 4
issuers accounted for 97.62 lakh cards.
 The top 4 issuers had a total of 7.06 crore cards-in-force as of March 2024, up
from 6.09 crore in the previous year.

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  Total number of cards outstanding stood at 10.18 crore at end of FY24, with net
addition of 12.02 lakh cards seen in March 2024.
1.3 RBI Updated Guidance Note on Operational Risk Management to Extend it to
NBFC
 Introduction of Updated Guidance Note:
 The RBI issued an updated “Guidance Note on Operational Risk Management and
Operational Resilience” for the financial sector, extending its applicability to Non-
Banking Financial Companies (NBFCs) including Housing Finance Companies.
 The guidelines were developed based on the Basel Committee on Banking
Supervision (BCBS) principles documents: ‘Revisions to the Principles for the
Sound Management of Operational Risk” and ‘Principles for Operational
Resilience’ issued in March 2021.
 Applicability:
 The updated guidance note is applicable to regulated entities (REs), including:
 All Commercial Banks; Primary (Urban) Co-operative Banks/State Co-operative
Banks/Central Co-operative Banks; and all NBFCs.

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 All All-India Financial Institutions like Exim Bank, NABARD, NHB, SIDBI, and
NaBFID.
 Three Lines of Defence Model:
 The new Guidance Note introduced a three Lines of Defence Model in
Operational Structure:
 Business Unit: Responsible for identifying and managing risks inherent in the
products, services, activities, processes, and systems.
 Organizational Operational Risk Management (OORF): Analyzes business units’
operational risk, designs and effectiveness of key controls, and other risk
tolerance thresholds.
 Audit Function: Provides independent assurance to the Board regarding the
appropriateness of RE’s Operational Risk Management Framework (ORMF).
 Principles and Focus Areas:
 The Guidance Note laid down separate principles for:
 Mapping of internal and external connections and inter-dependencies.
 Incident management.

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 Information and Communication Technology (ICT).
 Disclosures.
 It has a focused Principle on 3rd-party relationships, emphasizing risk assessment
before entering into any arrangement with 3rd parties.
 Organizational Set-Up Variation:
 The guidelines now cover various REs, with organizational set-up variations based
on size and nature of activities.
 Operational Risk Capital Calculation:
 Approaches for operational risk capital calculation for REs such as Local Area
Banks(LABs), Small Finance Banks(SFBs), Payments Banks, NBFCs, etc., are
eliminated. These entities are not required to maintain separate regulatory
capital for operational risk.
 For Public Sector Banks (PSBs), Private Banks, and Foreign Banks, the approach for
operational risk capital is defined in relevant directives issued by RBI.
 ICT Risk Management:
 All REs in India are required to implement robust ICT risk management programs

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 aligned with their operational risk management framework.
1.4 RBI launches IESH & CCS to Get Inputs for June’s 2024 Monetary Policy
 RBI's Surveys:
 The Reserve Bank of India (RBI) launched two surveys:
 The ‘Inflation Expectations Survey of Households (IESH)’.
 The ‘Consumer Confidence Survey (CCS)’.
 These surveys are aimed at providing essential inputs for the upcoming bi-
monthly monetary policy scheduled for June 5-7, 2024.
 Inflation Expectations Survey of Households (IESH) :
 It targets subjective assessments on price movements and inflation based on
individual consumption baskets.
 The survey covers 19 cities including Ahmedabad, Bengaluru, Bhopal,
Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu,
Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi, and
Thiruvananthapuram.
 The IESH seeks qualitative and quantitative responses on price changes and

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 inflation rates for the current, three months ahead, and one-year ahead periods.
 Consumer Confidence Survey (CCS) :
 The CCS gathers qualitative responses from households regarding sentiments on
various economic factors.
 It covers the same 19 cities as the IESH.
 The survey aims to gauge consumer confidence levels regarding the general
economic situation, employment scenario, price level, household income, and
spending.
 Survey Conductors:
 Hansa Research Group Pvt. Ltd., Mumbai, has been engaged to conduct both the
surveys (IESH and CCS) on behalf of the Reserve Bank of India.
1.5 RBI Revises banks’ Capital Market Exposure norms for T+1 settlement
 Revised Guidelines for Custodian Banks on IPCs:
 The RBI has updated guidelines for custodian banks to issue Irrevocable Payment
Commitments (IPCs) in line with the T+1 settlement regime for stocks.
 The maximum intraday risk for custodian banks issuing IPCs will be considered as

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 capital market exposure (CME) at 30% of the settlement amount.
 This 30% limit is based on an assumption of a 20% downward price movement of
equities on T+1, with an additional 10% margin for further downward movement.
 Previously, risk mitigation measures were based on T+2 rolling settlement for
equities.
 Key Points:
 Exposure under the T+1 settlement cycle is typically intraday. If exposure remains
at the end of T+1, the bank must maintain capital based on outstanding market
exposure.
 Only custodian banks with agreements giving them rights over securities for
receiving settlement payout can issue IPCs.
 This requirement will not be insisted on prefunded transactions.
 Clear rupee funds must be available in the customer’s account or, in the case of
foreign exchange deals, the bank’s nostro account must be credited before the
IPC issuance.
 If margin is paid in cash, the exposure will be reduced by the amount of margin

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 paid. If margin is paid with permitted securities to Mutual Funds / Foreign
Portfolio Investors (FPI), the exposure will be reduced by the amount of margin
after adjusting for the haircut prescribed by the Exchange on the permitted
securities accepted as margin.
 Underlying exposures of banks to counterparties from intraday CME are subject
to limits under the Large Exposure Framework.
1.6 RBI Allows Standalone Primary Dealers(SPDs) to Borrow in Foreign Currency
 RBI Circular on Borrowings by Standalone Primary Dealers (SPDs) :
 RBI allows SPDs to borrow in foreign currency from their parent companies or
authorized entities.
 Access to overdraft facilities in Nostro accounts is permitted for operational
purposes.
 Key Points on Revised Guidelines:
 Borrowings must comply with the foreign currency borrowing limit set under the
“Master Direction Standalone Primary Dealers (Reserve Bank) Directions 2016”.
 Excess withdrawals not adjusted within 5 days must be reported to RBI within 15

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 days from the end of the month.
 Authorized persons include Authorised Dealer Category-I banks, while Standalone
Primary Dealers are classified as Authorised Dealer Category-III under FEMA,
1999.
 Boards of authorized dealers or banks can set the Net Overnight Open Position
Limit (NOOPL) for calculating capital charge on forex risk, not exceeding 25% of
the dealer’s total capital (Tier-I and Tier-II capital).
 Amendments in RBI Directions:
 SPDs are now included in norms for risk management and inter-bank dealings.
 This enables SPDs to engage in foreign exchange products.
 Updates on Reporting Derivative Contracts:
 RBI directs reporting of OTC foreign exchange derivative contracts and foreign
currency interest rate derivative contracts to the Trade Repository of CCIL.
 Additional Information:
 As of 31st March 2023, 7 SPDs are registered with RBI as NBFCs.
 Funds raised by SPDs increased by 44.4% on a Year-on-Year basis in 2022-23, with

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 borrowings being the major source (90.3% of total funds).
1.7 RBI Proposes Stricter Norms for Loans to Projects such as Roads and Ports
 RBI's Proposed Stricter Measures for Project Financing:
 Lenders will need to set aside 5% of the money lent as general provisions for all
existing and new loans.
 Currently, banks allocate 0.4% of the project loan amount for non-default
exposures.
 Rules on exposure to capital markets, such as the introduction of T+1 settlement
by stock exchanges, will be revised.
 Under T+1 settlement, maximum risk assumed is set at 30%, compared to the
previous norms based on T+2 settlement for equities.
 Impact of New Norms:
 The new norms require a 1% provision even after project completion, more than
double the existing provision.
 These measures will pose serious challenges to the banking industry, particularly
affecting the profitability of banks heavily invested in infrastructure projects.

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1.8 Inflation to reach Target in FY26: RBI’s State of the Economy Report
 Reserve Bank of India (RBI) Report Overview:
 RBI published its ‘State of the Economy‘ report, authored by Deputy Governor
Michael Debabrata Patra and others.
 The report is part of the ‘RBI Bulletin – May 2024‘ and includes three speeches,
four articles, and current statistics.
 Inflation Trends:
 Headline inflation, measured by Year-on-Year (Y-o-Y) changes in the all-India
Consumer Price Index (CPI), moderated to 4.8% in April 2024 from 4.9% in March.
 Food inflation increased to 7.9% in April 2024 from 7.7% in March 2024, with
prices of various food items likely to maintain headline inflation around 5%.
 RBI's Projection for CPI Inflation:
 The RBI projects CPI inflation of 4.5% in FY25, with quarterly projections as
follows:
 Q1: 4.9%
 Q2: 3.8%

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  Q3: 4.6%
 Q4: 4.5%
 Rural vs. Urban Inflation:
 Rural inflation in April 2024 stood at 5.43%, surpassing urban inflation.
1.9 Inflation to reach Target in FY26: RBI’s State of the Economy Report
 RBI's 'State of the Economy' Report:
 Recently published in the 'RBI Bulletin – May 2024', authored by Deputy Governor
Michael Debabrata Patra and others.
 Includes three speeches, four articles, and current statistics.
 Inflation Trends:
 Headline inflation, measured by Year-on-Year (Y-o-Y) changes in the all-India
Consumer Price Index (CPI), moderated to 4.8% in April 2024 from 4.9% in March.
 Food inflation increased to 7.9% in April 2024 from 7.7% in March 2024, with
prices of various food items likely to maintain headline inflation around 5%.
 RBI's Projection for CPI Inflation in FY25:
 CPI inflation projected at 4.5% in FY25, with quarterly projections as follows: Q1:

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 4.9%, Q2: 3.8%, Q3: 4.6%, Q4: 4.5%.
 Decline in Net FDI:
 Net Foreign Direct Investment (FDI) into India dropped by 62.17% to USD 10.58
billion in FY24 from USD 27.98 billion in FY23, primarily due to increased capital
repatriation and Indian investments abroad.
 Out of the USD 70.9 billion gross FDI flows in FY24, USD 44.4 billion was
repatriated through dividends, share sale, or disinvestment, while USD 15.96
billion was invested overseas by Indians.
 Outward Remittances under LRS:
 Outward remittances under India’s Liberalized Remittance Scheme (LRS) reached
a record high of USD 31.73 billion in FY24, driven by robust international travel
spending, maintenance of close relatives, and funding overseas education.
 In March 2024, overall outward remittances amounted to USD 2.30 billion, down
by 22.13% compared to March 2023.
 NRI Deposit Flows:
 Non Resident Indian (NRI) deposit flows surged by 63.5% to USD 14.7 billion in

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 FY24, the highest in 8 years.
 Outstanding NRI deposits reached USD 151.87 billion by March 2024, with
significant increases in FCNR and NRE deposits.
1.10 RBI Board Approves Dividend of Rs 2,10,874 Crore to Central Government
for FY24
 Surplus Transfer Details:
 The Central Board of Directors of RBI approved the transfer of Rs 2,10,874 crore
(~Rs 2.11 Lakh crore) as surplus to the Central government for FY24, which is
approximately 141% higher than the surplus transferred in FY23 (Rs 87,416
crore).
 This exceeds the budgeted figure of Rs 1.50 lakh crore in the Interim Budget for
FY2025 under dividends and profits, which includes dividends from Public Sector
Undertakings (PSUs).
 Determining the Surplus:
 The surplus transfer for FY24 is determined by the Economic Capital Framework
(ECF) adopted by RBI, based on recommendations from the Expert Committee

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 chaired by Dr. Bimal Jalan.
 The committee recommended maintaining the Contingent Risk Buffer (CRB)
within a range of 6.5 to 5.5% of RBI’s balance sheet. Despite challenges posed by
the Covid-19 pandemic during accounting years 2018-19 to 2021-22, the CRB was
maintained at 5.50%.
 With economic growth rebounding in FY 2022-23, the CRB was raised to 6.00%,
further increased to 6.50% for FY 2023-24, reflecting the economy’s resilience,
leading to the approval of the surplus transfer.
 Reasons for Surplus Income:
 Surplus income includes a notable rise in interest earnings from RBI’s foreign
exchange assets, influenced by US Federal Reserve’s aggressive interest rate
hikes.
 Impact and Usage:
 Higher dividend aids Central Government in achieving the fiscal deficit target of
5.1% of Gross Domestic Product (GDP) for FY25 and provides greater spending
capacity for the government.

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  Importance of Increased CRB:
 Increased CRB ensures RBI’s capability to handle unforeseen situations arising
from depreciation of securities or monetary/exchange rate policy risks.
 Surplus Transfer Process:
 RBI transfers the surplus to the government after making provisions for reserves
and retained earnings, in accordance with Section 47 (Allocation of Surplus
Profits) of the RBI Act, 1934.
1.11 Unclaimed deposits in Banks reached Rs 42,270 crore as of March 2023: RBI
Data
 Unclaimed Deposits Data from Reserve Bank of India (RBI) .
 Total Unclaimed Deposits:
 As of March 2023, unclaimed deposits in public and private sector banks reached
Rs 42,270 crore.
 The COVID-19 pandemic significantly impacted this figure, with unclaimed
deposits standing at Rs 39,900 crore in December 2022, more than double the
amount from December 2019.

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 These unclaimed deposits span across various banking institutions, including
public sector, private, foreign, and regional rural banks.
 Unclaimed Deposits Overview
 Public Sector Banks (PSBs) :
 Hold Rs 33,303 crore (83% of total) as of December 2022.
 The highest amount is in the State Bank of India (SBI) with 2.16 crore accounts
worth Rs 8,069 crore.
 Punjab National Bank (PNB) follows with Rs 5,298 crore, a nearly 5x increase from
2019.
 Private Banks:
 ICICI Bank has the highest unclaimed deposits with 31.8 lakh accounts worth Rs
1,074 crore.
 HDFC Bank follows with Rs 447 crore, doubling since 2019.
 Foreign Banks:
 DBS Bank has increased unclaimed deposits from Rs 0.5 crore in 2019 to Rs 94
crore in 2022.

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 What are Unclaimed Deposits?
 Definition:
 Accounts inactive for 10 years or term deposits not claimed within 10 years are
classified as unclaimed.
 These funds are transferred to the Depositor Education and Awareness (DEA)
Fund maintained by RBI.
 Depositors can claim these funds later with applicable interest.
 Banks cannot levy penal charges for non-maintenance of minimum balances on
inoperative accounts.
 Reasons for Increase in Unclaimed Deposits
 Inactive Accounts:
 Customers not closing unused accounts or losing track due to migration.
 Deceased Customers:
 Post-COVID, there is a rise in accounts of deceased customers without
nominations.
 Complex Documentation:

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  Legal heirs face complex documentation requirements to claim deposits.
 Measures to Address Unclaimed Deposits
 UDGAM Portal:
 RBI launched UDGAM (Unclaimed Deposits-Gateway to Access Information)
online portal for centralized search of unclaimed deposits.
 As of March 2024, 30 banks participate in UDGAM.
 Bank Reviews:
 RBI instructs banks to review large unclaimed amounts and reach out to
customers.
 Tech-driven Initiatives:
 Account Aggregator system recommended to reduce unclaimed funds.
1.12 RBI Launched PRAVAAH Portal, Retail Direct App and Fintech Repository for
Enhanced Public Access
 Initiatives Launched:
 Platform for Regulatory Application, Validation and Authorisation (PRAVAAH)
Portal

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 RBI Retail Direct Mobile Application
 Fintech Repository
 Objective: Enhance regulatory processes, facilitate retail investment, and provide
comprehensive data on the fintech sector.
 PRAVAAH Portal
 Description:
 A centralised, secure web-based platform for online regulatory approvals,
licenses, and authorisations from the RBI.
 Features:
 Application Submission: Applicants can submit applications online.
 Tracking and Monitoring: Applicants can track and monitor the status of their
application or reference.
 Response to Queries: Applicants can respond to RBI's clarifications or queries.
 Time-bound Decisions: Applicants will receive decisions from RBI in a time-bound
manner.
 Current Scope:

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 60 application forms covering different regulatory and supervisory departments
of the RBI.
 RBI Retail Direct Mobile Application
 Description:
 Facilitates seamless and convenient access for retail investors to buy and sell
Government-Securities (G-Sec) directly from smartphones.
 Available on Android and iOS platforms.
 Functionality:
 Simplifies transactions in the primary and secondary markets.
 Background:
 Launch: November 2021
 Portal: https://rbiretaildirect.org.in
 Scheme: RBI Retail Direct (RBI-RD) Scheme allows retail investors to open Retail
Direct Gilt (RDG) accounts with RBI.
 Primary Issuance: Investors can place bids as per the non-competitive scheme for
government securities and Sovereign Gold Bond (SGB) issuance.

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 Secondary Market: Investors can buy and sell G-secs on Negotiated Dealing
System-Order Matching (NDS-OM) in 'Odd Lot' and 'Request for Quotes'
segments.
 Fintech Repository
 Description:
 Provides comprehensive data on fintech firms, including both regulated and
unregulated entities.
 Additional Repository:
 Emtech Repository: Specifically for RBI Regulated Entities (REs) such as Banks and
Non-Banking Financial Companies (NBFCs) focusing on emerging technologies like
Artificial Intelligence (AI), Machine Learning (ML), Cloud Computing, etc.
 Purpose: Provides aggregate data, trends, and analytics for policymakers and
industry participants.
 Management: Both repositories are managed by the Reserve Bank Innovation
Hub (RBIH), a wholly-owned subsidiary of RBI.

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 2 Other Regulators News

2.1 SEBI Amends Mutual Fund Regulations to Curb Fraudulent Practices

 SEBI (Mutual Funds) Regulations Amendments:
 SEBI approved amendments to enhance the regulatory framework for mutual
funds.
 These changes aim to mandate Asset Management Companies (AMCs) to
establish a robust institutional mechanism to prevent fraudulent practices like
front-running and insider trading.
 Background:
 SEBI made these decisions after discovering front-running practices in Axis AMC
and Life Insurance Corporation.
 The decisions were taken during the 205th meeting of the SEBI board held in
Mumbai, Maharashtra.
 Features of the Institutional Mechanism:
 Use of technology and data analysis to detect trading activity with doubtful
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 patterns.
 Implementation of stricter internal policies to prevent misconduct by employees,
dealers, and associated entities.
 Formulation of clear guidelines for reporting and investigating suspected
misconduct.
 The AMC management will be held responsible for ensuring the institutional
mechanism's effectiveness.
 AMCs are required to establish a system for employees to anonymously report
misconduct within the company.
 Addressing Challenges with Recording:
 SEBI waived the requirement for recording face-to-face communication, including
interactions outside the office during market hours, for dealers and fund
managers.
 This waiver will be implemented after the successful execution of the institutional
mechanism.
 Previously, SEBI required the recording of all communication by dealers and fund

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 managers, but concerns were raised about the burden on AMCs and the potential
for employee departures.
 Front Running Explanation:
 Front Running is the illegal practice of using non-public information to trade
securities before the information becomes public.
 Brokers use advance information about investor orders to trade and profit
illegally.
 Increased Investment Flexibility for Passive Funds:
 Mutual fund schemes are currently restricted from investing over 25% of their net
asset value (NAV) in group companies of the sponsor.
 SEBI raised the investment limit for Index Funds and Exchange-Traded Funds
(ETFs) in sponsor group companies from 25% to 35% of their total assets.
 This change allows passive funds to better mimic the underlying index they track,
especially if the index has a high weighting of sponsor group companies (more
than 25%).
2.2 SEBI allows FPIs in GIFT City to take more investments from NRIs & OCIs

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 SEBI's Decision on FPIs in GIFT City:
 SEBI has allowed Foreign Portfolio Investors (FPIs) established in Gujarat
International Finance Tec-City (GIFT City), Gujarat, to accept unlimited
investments from Non-Resident Indians (NRIs).
 FPIs can now accept a 100% contribution from NRIs, subject to the submission of
copies of PAN cards of all their NRI/OCI individual constituents, along with their
economic interest in the FPI.
 Background:
 Previously, NRIs and Overseas Citizens of India (OCIs) could invest only up to 50%
in FPIs.
 The combined holdings of NRIs and OCIs in a global fund were limited to less than
50%, with a cap of 50% for a single NRI or OCI to prevent circumvention of rules
such as the 25% minimum public shareholding requirement.
 Other Amendments:
 SEBI has approved a proposal to allow Venture Capital Funds (VCFs) to migrate to
the Alternative Investment Fund (AIF) Regulatory Framework.

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  This migration addresses the difficulties faced by VCFs registered under the legacy
VCF regulations in fully liquidating their investments.
 It allows them to manage unliquidated investments under the AIF framework.
 SEBI has approved a proposal regarding debt securities, allowing issuers to issue
non-convertible debentures (NCDs) and non-convertible redeemable preference
shares (NCRPS) through the private placement mode at a reduced face value of Rs
10,000.
 Issuers are also required to appoint a merchant banker for this process.
2.3 SEBI Made Mandatory Registration of PMS Distributors with APMI
 SEBI Directive on PMS Distribution Registration:
 SEBI mandates that any person or entity distributing Portfolio Management
Services (PMS) must obtain registration with the Association of Portfolio
Managers in India (APMI).
 The aim is to facilitate collective oversight of PMS distributors at the industry
level and boost Ease of Doing Business initiatives for Portfolio Managers.
 Key Points:

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 Portfolio Managers must ensure that their distributors are registered with APMI.
 Distributors should follow the code of conduct specified under portfolio
managers’ rules.
 Background:
 A working group was formed to review the existing regulatory framework under
SEBI (Portfolio Managers) Regulations, 2020, and recommend measures for ease
of doing business.
 Currently, distributors of PMS need certification from the National Institute of
Securities Markets (NISM).
 Benefits:
 Enhances efficiency and transparency in the PMS sector.
 Simplifies compliance processes and provides access to industry data.
 Expedites the grievance redressal mechanism.
 Additional Information:
 This aligns with the practice in the Mutual Fund (MF) industry, where distributors
are required to register with the Association of Mutual Funds in India (AMFI) and

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 obtain the AMFI Registration Number (ARN) for distribution services.
2.4 SEBI introduces Framework for Stock Exchanges to supervise RAs & Ias
 SEBI's Framework for Research Analysts and Investment Advisers:
 SEBI introduces a framework for the administration and supervision of Research
Analysts (RAs) and Investment Advisers (IAs).
 Stock exchanges will be recognized as RAASB (Research Analyst Administration
and Supervisory Body) and IAASB (Investment Adviser Administration and
Supervisory Body) for the administration and supervision of RAs and IAs
respectively.
 This follows the 'Securities Contracts (Regulation) (Stock Exchanges and Clearing
Corporations) (Amendment) Regulations, 2024' on April 26, 2024, which permits
recognized stock exchanges to undertake these activities, subject to terms and
conditions.
 The framework will be effective from July 25, 2024.
 SEBI's Authority:
 SEBI exercises its powers conferred under Section 11(1) of the SEBI Act, 1992,

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 read with regulation 14 of RA Regulations and IA Regulations to protect the
interests of investors and promote the development of the securities market.
 Key Requirements:
 Stock Exchanges Recognition:
 Stock exchanges are recognized as RAASB and IAASB under Regulation 14 of the
'RA Regulations' and 'IA Regulations'.
 For efficiency and economies of scale, RAASB and IAASB must be the same stock
exchange.
 Recognition Criteria:
 Operational for at least 15 years.
 Net worth of at least Rs 200 crore.
 Nationwide terminals and investor service centers in 20 cities.
 Provide a grievance redressal mechanism, including online dispute resolution.
2.5 IFSCA Permits Foreign Portfolio Investors(FPIs) to Issue Derivative Instruments
with Indian Securities
 Permitted Activities for IFSC Banking Units (IBUs) Registered as FPIs:

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 IFSC Authority has allowed IBUs registered as Foreign Portfolio Investors (FPIs)
with SEBI to issue Derivative Instruments (DIs) with Indian securities as underlying
assets in GIFT-IFSC.
 This expands the scope of activities for IBUs operating in the GIFT-IFSC.
 Entities issuing DIs must comply with SEBI and IFSCA requirements on the
issuance of Offshore Derivatives Instruments (ODIs).
 This ensures regulatory compliance and standardization of practices.
 Eligible entities are required to provide requisite information to the Clearing
Corporation in GIFT-IFSC by the 10th day of every month.
 This facilitates transparency and regulatory oversight.
 Background:
 During the Union Budget speech for 2023-24, the Finance Minister, Nirmala
Sitharaman, announced that ODIs issued in the GIFT-IFSC would be recognized as
valid contracts.
 This announcement was aimed at boosting the derivatives market in the GIFT-
IFSC.

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  The Government of India (GoI) made amendments in Section 18A of the
Securities Contracts (Regulation) Act, 1956, to recognize contracts in derivatives
regulated by IFSCA and issued in the IFSC by FPIs as legal and valid.
 This legal recognition provides assurance and clarity to market participants
operating in the GIFT-IFSC.
2.6 SEBI Mandates Standardized Periodic Reporting for Investment Advisers
 SEBI Mandate for Investment Advisers (IAs) :
 SEBI has mandated Investment Advisers (IAs) to submit periodic reports for half-
yearly periods ending on September 30 and March 31 of every financial year.
 These reports should include various details such as shareholding pattern,
Investment Adviser Administration and Supervisory Body (IAASB) membership
number, SEBI registration number, complaints filed against the IA, and social
media handles, among others.
 SEBI exercises its powers under Section 11(1) of SEBI Act, 1992, read with
Regulation 14 and Regulation 15(12) of IA Regulations to protect the interests of
investors in the securities market and to promote the development of the

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 securities market.
 Details to be Included in Periodic Reports:
 Investment advisers should also share details such as social media handles, bank
accounts, National Institute of Securities Markets (NISM) certification, and last
inspection details in their periodic reports.
 Standardized Reporting Format:
 Previously, IAASB sought these reports on an ad-hoc basis, leading to the decision
to specify a standardized format for periodic reporting.
 SEBI has developed a standardized periodic format for submission of information
by investment advisors, following recommendations from the Industry Standards
Forum (ISF).
 Submission Deadlines:
 For the half-yearly period ending on March 31, 2024, investment advisors must
submit the periodic report within 15 days from the date of IAASB’s circular
issuance.
 Subsequently, for half-yearly periods, investment advisers will submit periodic

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 reports within seven working days from the end of the respective half-yearly
period.
2.7 SEBI extends Settlement Scheme period till Jun 10 in stock option cases
 SEBI Settlement Scheme Extension:
 SEBI has extended the settlement scheme period until June 10, 2024, for entities
involved in reversal trades in the stock options segment on BSE in 2014 and 2015.
 The original deadline was May 10, 2024.
 Targeted Entities:
 The ISO Settlement Scheme 2024 targets entities involved in trade reversals on
BSE (formerly Bombay Stock Exchange) between April 1, 2014, and September 30,
2015, with pending adjudication proceedings.
 Consequences of Non-Participation:
 After the scheme period ends, actions under securities laws will continue against
entities not participating in settlement.
 Benefits of Availing the Scheme:
 Availing the scheme benefits entities by resolving proceedings, avoiding delays,

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 and reducing legal expenses.
2.8 SEBI mandates NISM Certification Requirement for One Personnel of AIF
Investment Manager Team
 New Certification Requirement:
 The Securities and Exchange Board of India (SEBI) mandated that the investment
team of an AIF manager must include at least one key personnel with National
Institute of Securities Market (NISM) Series-XIX-C certification.
 This requirement is effective from May 10, 2024, and is a criterion for AIF
registration.
 SEBI has amended its Certification of Associated Persons in the Securities Markets
Regulations, 2007, to enforce this requirement.
 Purpose of the Certification Requirement:
 The certification aims to ensure higher proficiency in managing AIFs, enhancing
the skills and knowledge of the investment team.
 Compliance Deadlines:
 Existing schemes of AIFs must comply with the certification requirement by May

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 9, 2025.
 Schemes of AIFs with pending applications for launch with SEBI as of May 10,
2024, must also meet this deadline.
 Regulatory Context:
 SEBI implemented this mandate under its powers conferred by Section 11(1) of
the SEBI Act, 1992, to protect investors' interests and promote the development
of the securities market.
 Additional Regulatory Updates:
 In April 2024, SEBI allowed the direct submission of certain changes in the private
placement memorandum of AIFs, bypassing the need for a merchant banker to
facilitate easier business operations.
2.9 SEBI relaxes KYC norms to Simplify Risk Management Framework
 SEBI's Relaxation of Risk Management Framework at KRAs.
 Context and Objective:
 SEBI has relaxed the provisions of the Risk Management Framework at KYC
Registration Agencies (KRAs) to simplify the framework based on stakeholder

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 feedback and ease client transactions.
 This decision is in accordance with SEBI's powers under Section 11(1) of the SEBI
Act, 1992, and Regulation 17 of the SEBI KRA Regulations, 2011.
 Key Provisions Relaxed:
 Verification Timeline:
 KRAs must verify the client’s Permanent Account Number (PAN), name, and
address within two days of receiving KYC records.
 Validated Records:
 Records verified with official databases such as the Income Tax Department,
Aadhaar XML, Digilocker, and M-Aadhaar are considered 'validated records.'
 Technical Changes Deadline:
 Exchanges, depositories, and intermediaries must complete the necessary
technical changes by May 31, 2024.
 Implementation:
 These changes aim to streamline the KYC process and enhance the efficiency of
client transactions by reducing the verification time and ensuring the authenticity

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 of records through official databases.
2.10 LIC Received Approval from SEBI for Additional 3 years to meet MPS norms
 Approval Details
 SEBI Approval: Life Insurance Corporation of India (LIC) received approval from
the Securities and Exchange Board of India (SEBI) for an additional 3 years to
comply with Minimum Public Shareholding (MPS) norms.
 New Deadline: LIC must achieve 10% public shareholding by 16th May 2027 under
Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957.
 SEBI MPS Norms
 General Requirement: All listed companies are required to maintain a 25% public
float.
 Newly-listed Companies: SEBI grants newly-listed companies 3 years to comply
with this requirement.
 Large Companies: Companies with a market capitalization over Rs 1 trillion post-
issue are required to achieve 25% MPS within 5 years.
 Background Information

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 Initial Requirement: Initially, LIC was required to achieve 10% public shareholding
within 2 years of listing, following its market debut on 17th May 2022.
 Finance Ministry Exemption: In December 2023, the Union Finance Ministry
exempted LIC from the 25% MPS norms until 2032.
 LIC IPO: In May 2022, the Government of India sold a 3.5% stake in LIC through an
Initial Public Offering (IPO) worth Rs 21,000 crore.
 Current Shareholding
 Government Stake: The Government of India currently holds a 96.5% share in LIC.
 Key Points
 Revised Timeline: LIC has until 16th May 2027 to achieve 10% public
shareholding.
 SEBI Regulations: SEBI mandates a 25% public float for all listed companies, with
specific timelines based on market capitalization.
 LIC's Exemption: LIC has a unique exemption from the 25% MPS norm until 2032,
granted by the Union Finance Ministry.
 Market Listing: LIC's listing on 17th May 2022 marked the beginning of its

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 compliance timeline.
 Government's IPO: The government sold 3.5% of LIC shares during the IPO,
reducing its holding to 96.5%.
 Additional Information
 Compliance Challenge: LIC's extended timeline reflects the challenges faced by
large state-owned enterprises in meeting public shareholding norms.
 Strategic Importance: The gradual reduction of the government stake is
significant for market dynamics and regulatory compliance.
2.11 SEBI revises Market Capitalization Computation Basis for LODR Regulations
 Overview of the Amendment
 Regulations Amended: Listing Obligations and Disclosure Requirements (LODR)
Regulations, 2015.
 New Method: Market capitalization will now be calculated using ‘Average Market
Capitalization’ over a defined period, replacing the single day’s market cap
previously used on March 31.
 Background and Rationale

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 Committee Recommendation: Based on recommendations from a SEBI-appointed
expert committee chaired by former whole-time member Santosh Kumar (SK)
Mohanty.
 Objective: To facilitate ease of business and provide a more accurate reflection of
a company’s market size by averaging its market capitalization over six months,
thus addressing daily market fluctuations.
 Key Points of the Amendment
 Impacted Companies: Applies to the Top 100/top 250 companies based on
market capitalization. For other companies, the framework remains voluntary.
 Effective Date: Amendments to Regulations 3, 17, 21(5), 25, 30 (omission of the
Explanation under sub-regulation 11), 34, 43A, and 44 will take effect from
December 31, 2024.
 Calculation and Compliance
 Ranking Basis: Compliance ranking will be based on average market capitalization
from July 1 to December 31, with December 31 as the cut-off date.
 Transition Period: After the ranking is determined on December 31, there will be

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 a three-month transition period (or until the start of the next financial year,
whichever is later) before the relevant LODR provisions apply.
 Compliance Requirements
 Provisions for Compliance: Companies must meet specific requirements based on
their market capitalization ranking, including:
 Appointing an independent woman director.
 Having at least six directors on the board.
 Ensuring board meeting quorum.
 Establishing a risk management committee.
 Verifying rumours.
 Providing directors and officers insurance for independent directors.
 Implementing a dividend distribution policy.
 Submitting a Business Responsibility and Sustainability Report.
 Holding the AGM within five months of the financial year’s end.
 Live webcasting AGM proceedings.
 Aim and Impact

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  Market Size Reflection: This adjustment aims to provide a more accurate
reflection of a company’s market size by averaging its market capitalization over
six months, addressing daily fluctuations in market dynamics.
2.12 IFSCA Sets up Committee Chaired by Rajeev Kher to Position GIFT City as
“Global Trading Hub”
 IFSCA Committee on GIFT City:
 The 21-member expert committee will be chaired by Rajeev Kher, Former
Secretary, Ministry of Commerce and Industry(MoCI).
 Key Functions:
 Terms of Reference (ToR) for Expert Committee:
 The committee will recommend steps to promote GIFTIFSC as a Global
Commodity Trading Hub by analyzing how key global commodity trading centres
operate and also to identify areas with strong synergies for GIFT-IFSC financial
services industry.
 It will identify key groups of commodities such as metals, energy or hydrocarbons,
agricultural commodities, among others that should be given high preference in

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 developing the IFSC ecosystem.
 The committee will develop legal, regulatory, and policy frameworks and
incentive structures that will help promote GIFT-IFSC as a Global Commodity
Trading Hub.
 It will review global policies and programs of leading jurisdictions in this regard.
 The committee will explore key benefits that could be transferred to GIFT-IFSC
financial ecosystem by positioning GIFT-IFSC as a Global Commodity Trading Hub.
2.13 IRDAI Introduced New Corporate Governance Regulations for Insurers
 IRDAI Introduces New Corporate Governance Regulations for Insurers.
 Notification Date:
 The Insurance Regulatory and Development Authority of India (IRDAI) notified
new corporate governance regulations on 21st March 2024 under The Insurance
Regulatory and Development Authority of India (Corporate Governance for
Insurers) Regulations, 2024 (“the Regulations”).
 Legal Basis:
 Issued under Section 34 of the Insurance Act, 1938, Section 14 of the IRDAI Act,

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 1999, and Regulation 12 of the Insurance Regulatory and Development Authority
of India (Corporate Governance for Insurers) Regulations, 2024.
 These regulations were issued through a Master Circular titled “Master Circular
on Corporate Governance for Insurers, 2024.”
 Implementation
 Effective Date:
 The new regulations become effective upon issuance.
 Insurers have until 30th June 2024 to ensure compliance with the provisions.
 Specific timelines for certain compliances remain unchanged.
 Applicability:
 The Master Circular applies to all insurers except foreign companies engaged in
re-insurance business through a branch established in India.
 Key Features
 Board Chairperson Appointments:
 Insurance companies must seek prior approval for their Board Chairperson
appointments, effective immediately.

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 Existing chairpersons have until 31st March 2026 or the end of their current
terms, whichever comes first, to comply with the new norms.
 Insurers governed by specific acts, rules, regulations, or instructions of the
Government of India (GoI) do not require prior approval for chairperson
appointments.
 Board Composition:
 Insurers must ensure an optimum composition of Independent Directors and
Non-Executive Directors on the Board of Directors.
 A minimum of 3 Independent Directors is required.
 Board Meetings Quorum:
 Board meetings will only be conducted when the quorum is maintained, i.e.,
1/3rd of the total strength of the Board or 3 Directors, whichever is higher.
 Women Directors:
 Every insurance company must have at least 1 woman Director on the Board as
required under Section 149 of the Companies Act, 2013.
 Whistle-blower Policy:

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  Insurers must implement a “whistle-blower policy” allowing employees to raise
concerns regarding possible irregularities, governance, financial reporting, among
others, at an internal company forum.
 Employees can report in confidence directly to the chairperson of the Board, a
Committee of the Board, or the Statutory Auditor.
2.14 IRDAI Introduced Flexibility in Procedural Norms on Expense of
Management, Share Transfer
 IRDAI Relaxes Procedural Norms on Expense of Management and Share Transfer.
 Master Circular on Expenses of Management (EOM) and Commission Regulations
2024
 Issuance Date:
 The circular was issued on 15th May 2024.
 Applicability:
 Applies to life, general, and health insurers.
 Comes into force from the date of issuance.
 Commission Structure:

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 Must be reasonable and not result in excessive compensation for intermediaries
at the expense of customers or insurers.
 The requirement for the Board of Insurance companies to specify ceilings based
on the absolute amount of commission in segments like group insurance has been
eliminated.
 The new commission structure will not apply to already sold policies, ensuring
existing policyholders and their contracts remain unaffected by the changes.
 Master Circular on Registration, Capital Structure, Transfer of Shares, and
Amalgamation of Insurers, 2024
 Issuance Date:
 The circular was issued on 15th May 2024.
 Key Features:
 Simplified application procedures for transfer of shares.
 Compliance for Employee Stock Option Plans (ESOPs) has been simplified.
 Timelines for prior approval for listings, amalgamation guidelines, and reporting
for capital forms have been specified.

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 Key Points
 Expense of Management (EOM) :
 Reasonable Commission Structure:
 Ensures commissions are not excessively high, balancing compensation for
intermediaries with customer and insurer interests.
 Elimination of Ceilings:
 Board of Insurance companies no longer need to specify ceilings for commissions
in group insurance segments.
 Policyholder Protection:
 Existing policyholders and their contracts remain unaffected by changes to the
commission structure.
 Transfer of Shares:
 Simplified Procedures:
 Application processes for share transfer are streamlined.
 ESOP Compliance:
 Compliance requirements for Employee Stock Option Plans are simplified.

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  Specified Timelines:
 Clear timelines are set for prior approval for listings, amalgamation guidelines,
and reporting for capital forms.
2.15 SEBI Introduced Framework to Determine Unaffected Price in Response to
Market Rumour
 SEBI's New Framework for Considering Unaffected Price after Market Rumours.
 Implementation
 Applicability:
 Effective from 1st June 2024 for the top 100 listed entities.
 Effective from 1st December 2024 for the next top 150 listed entities (totaling the
top 250).
 Validity of Unaffected Price:
 The unaffected price will remain valid for either 60 or 180 days, depending on the
transaction stage.
 The period starts from the rumour confirmation date to the relevant date under
existing regulations, such as public announcement or board approval.

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 Key Points
 Regulation 30(11) of SEBI LODR Regulations, 2015:
 Listed entities are required to verify market rumours upon a material price
movement.
 This is stipulated by the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended by the SEBI LODR (Amendment) Regulations,
2024.
 Verification of Rumours:
 According to the 2nd proviso of Regulation 30(11) of the LODR Regulations, if a
rumour related to a transaction is verified within 24 hours of a material price
movement, the unaffected price will be considered.
 This unaffected price will apply to transactions where SEBI or stock exchange
pricing norms are applicable.
 Volume-Weighted Average Price (VWAP) :
 The adjusted VWAP will be used for transactions that fall under SEBI or stock
exchange pricing norms.

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 This ensures that the unaffected price reflects a fair market value unaffected by
the rumour's impact.
 Explanation
 Framework Applicability:
 Initially targets the largest listed entities to ensure significant market transactions
are regulated.
 Gradually expands to include more entities to ensure comprehensive market
regulation.
 Unaffected Price Validity:
 The validity period allows for flexibility based on the transaction stage, ensuring
that the unaffected price remains relevant.
 Ensures that prices are based on genuine market conditions rather than
speculative movements.
 Regulation and Rumour Verification:
 Ensures transparency and timely verification of market rumours.
 Protects investors by ensuring that prices reflect true market conditions, not

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 speculative or unverified information.
 Adjusted VWAP:
 Using VWAP helps maintain fair and consistent pricing for transactions.
 Ensures that prices are not artificially inflated or deflated due to unverified
rumours, providing stability and trust in the market.
2.16 SEBI amends rule to Facilitate Ease of Doing for Companies Planning IPOs
 SEBI's Amendments to Simplify IPO Process.
 Overview:
 SEBI issued SEBI (Issue of Capital and Disclosure Requirements) (Amendment)
Regulations, 2024 to amend the SEBI (Issue of Capital and Disclosure
Requirements) Regulations, 2018.
 These changes aim to ease the process for companies planning Initial Public
Offerings (IPOs).
 Key Changes:
 Simplified OFS Criteria:
 Changes in the size of the Offer for Sale (OFS) requiring fresh filing will now be

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 based on either the issue size in rupees or the number of shares, not both.
 This simplification reduces the complexity and administrative burden on
companies planning an IPO.
 Flexibility in Meeting Minimum Promoter Contribution (MPC) :
 Promoter group entities and non-individual shareholders holding more than 5%
of post-offer equity can contribute to the shortfall in MPC without being labeled
as promoters.
 Equity shares from the conversion of compulsorily convertible securities held for
a year before filing the Draft Red Herring Prospectus (DRHP) will count towards
MPC.
 This provides more flexibility for companies in meeting MPC requirements,
facilitating smoother IPO processes.
 Adjustments for Force Majeure Events:
 Bid closing dates can be extended by a minimum of one day due to force majeure
events, such as banking strikes, instead of the previous requirement of three
days.

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 This adjustment ensures that unforeseen events do not unduly delay the IPO
process.
 Rule Amendments:
 These changes are part of amendments to the Issue of Capital and Disclosure
Requirements (ICDR) rules, as notified by SEBI on May 17, 2024.
 The amendments are intended to streamline the IPO process and provide greater
flexibility for companies and promoters.
 Explanation
 Simplified OFS Criteria:
 By focusing on either issue size or the number of shares, SEBI reduces the
administrative complexity, making it easier for companies to manage their IPO
filings.
 Flexibility in Meeting MPC:
 Allowing additional contributors to the MPC without labeling them as promoters
provides companies with more options to meet regulatory requirements.
 Including equity shares from convertible securities held for a year adds flexibility

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 and aids in meeting the MPC criteria effectively.
 Adjustments for Force Majeure Events:
 The reduction in the extension period required for force majeure events helps
avoid unnecessary delays in the IPO process.
 This change ensures that minor disruptions do not significantly impact the overall
timeline for public offerings.
 Conclusion:
 SEBI's amendments to the ICDR rules reflect a commitment to simplifying and
modernizing the IPO process.
 These measures provide greater flexibility, reduce administrative burdens, and
accommodate unforeseen events, thereby supporting companies in their journey
to go public.
2.17 SEBI Amends Framework for Dynamic Price Bands for Scrips in Derivatives
Segment
 SEBI's Amended Guidelines on Dynamic Price Bands:
 Overview:

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 The Securities and Exchange Board of India (SEBI) has amended guidelines on
dynamic price bands for scrips in the derivatives segment.
 The aim is to improve uncertainty management and reduce information
disproportion.
 Important Facts:
 Scrips:
 Scrip refers to any kind of substitute for money that is not legal tender.
 It can be used as a form of credit, exchangeable for something of value in the
future (e.g., scrip dividends).
 Price Band:
 A price band is a price floor and a cap within which buyers can place bids on a
security, typically during an initial public offering (IPO).
 Key Points of the Amended Framework:
 Current Scenario:
 Cash market and futures contracts start with a price band at 10% of the previous
day’s closing price.

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 This band can be altered by 5% during the day if there are at least 25 trades
involving 5 unique client codes (UCCs) on each side at or above 9.90%.
 Each adjustment follows a 15-minute cooling-off period during which trading
continues within the current band.
 Amendments by SEBI:
 Conditions for adjustments are enhanced to 50 trades, 10 unique UCCs, and 3
trading members on each side.
 The price band for the scrip and all its futures contracts on any exchange will be
adjusted after a cooling-off period, provided conditions are met in either the cash
market or the current month contract at any exchange.
 Adjustments and Cooling-off Period:
 SEBI will increase the cooling-off period of 15 minutes and decrease the flexing
percent of 5% in a calculated manner.
 For the first two adjustments, the price band will be adjusted by 5% after a
cooling period of 15 minutes.
 If the adjustment occurs during the last half hour of trading, the cooling period

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 will be 5 minutes.
 For the next two adjustments, the price band will be adjusted by 3% after a 30-
minute cooling period and by 2% after a 60-minute cooling period.
 Implementation:
 The circular will be implemented by stock exchanges in a phased manner starting
from June 3, 2024.
 Important Concepts:
 Cooling-off Period:
 Also known as the “quiet period,” it is the time between when a company files its
registration statement with the Securities and Exchange Commission (SEC) and
when the registration statement becomes effective, allowing the securities to be
sold to the public.
 Hedging:
 A hedge is an investment that helps limit financial risk by holding an investment
that will move in a different direction from the primary investment, offsetting or
limiting overall loss.

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2.18 SEBI Mandates Social Enterprises on SSE to Submit Annual Impact Report
for FY24
 Annual Impact Report Submission:
 Deadline:
 Social enterprises registered or raising funds through SSE must submit an 'Annual
Impact Report' for FY 2023-24 by the end of October 2024.
 Disclosure Requirement:
 In September 2023, SEBI mandated that social enterprises disclose the annual
impact report within 90 days from the end of the financial year.
 Report Content:
 The annual report should include both qualitative and quantitative details of the
social impact created by the social enterprise.
 Key components: strategic intent, planning, approach, and an impact scorecard.
 Not-for-Profit Organisations (NPOs) :
 NPOs registered on SSE must show their annual activities on the exchange for
FY24.

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 If an NPO is registered but does not have listed securities, the report should
include significant activities, interventions, and programmes, among other
details.
 Key Highlights:
 Appointment of Additional Agencies:
 SEBI has appointed two additional agencies as Self-Regulatory Organisations
(SROs) to assess the societal impacts of social activities by social enterprises:
 ICMAI Social Auditors Organisation under the Institute of Cost Accountants of
India (ICAI).
 ICSI Institute of Social Auditors under the Institute of Company Secretaries of
India.
 Role of Agencies:
 These agencies can act as platforms to register social auditors.
 They are added to the existing SRO mentioned under ICAI for the social impact
assessor.
 Social Impact Assessor:

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 Definition:
 A social impact assessor is any individual registered with an SRO under the
Institute of Chartered Accountants of India or another such agency.
 The assessor must have completed a certification program organized by the
National Institute of Securities Market (NISM).
 Social Stock Exchange (SSE) :
 Purpose:
 SSE is a platform distinct from existing stock exchanges, designed to help non-
profit organisations and for-profit social enterprises raise funds from the capital
market.
 Social Enterprises:
 Definition:
 Social enterprises include NPOs and for-profit social enterprises aiming to achieve
social objectives.
 They must engage in social activities within 16 broad categories as defined by
SEBI.

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2.19 SEBI Notified Framework for Issue of Subordinate Units in Privately Placed
InvITs
 SEBI's New Framework for Infrastructure Investment Trusts (InvITs) :
 SEBI notified a framework allowing privately placed InvITs to issue subordinate
units.
 Amendments made to Securities and Exchange Board of India (Infrastructure
Investment Trusts) Regulations, 2014, now called Securities and Exchange Board
of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024.
 Significance:
 Aims to narrow the valuation gap between sponsor and InvIT.
 Includes risk mitigation measures for subordinate units.
 Key Features of Subordinate Units:
 Subordinate units issued to sponsors or associates upon infrastructure project
acquisition.
 No voting rights or distribution rights compared to ordinary units.
 Subordinate units' amount at acquisition not to exceed 10% of project acquisition

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 price.
 Total outstanding subordinate units not to exceed 10% of total outstanding
ordinary units.
 InvIT cannot raise funds through public issues if subordinate units are
outstanding.
 Reclassified into ordinary units after meeting performance benchmarks in 3 years.
 Investment manager to obtain in-principal approval for listing subordinate units.
 Progress on performance benchmark disclosure in InvIT's annual report.
 Pricing based on guidelines for ordinary unit issuance.
 About InvITs:
 Investment instruments similar to mutual funds, allowing direct investment in
infrastructure projects.
 Investment can be made directly or through Special Purpose Vehicles (SPVs).
 Regulated by SEBI through Securities and Exchange Board of India (Infrastructure
Investment Trusts) Regulations, 2014.

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 3 Reports

3.1 India has Low Health Insurance Coverage for Older Citizens: ADB report
 Health Insurance Coverage:
 India has the lowest health insurance coverage among older people, standing at
only 21%.
 South Korea and Thailand have achieved universal health coverage.
 Report Overview:
 The report examines progress in Asia and the Pacific in preparing for and
achieving well-being among older people.
 It explores four dimensions of well-being: health, productive work, economic
security, and social engagement.
 Key Findings:
 On average, 57% of older people have at least one diagnosed noncommunicable
disease (NCD), but only 40% receive regular health checks, and 43% of older
people with functional limitations lack long-term care.
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 Up to 94% of workers aged 65+ in Asia are employed in the informal sector.
 Social pensions coverage is significantly higher than that of contributory pensions,
reaching 46% of older persons, on average.
 Highlights:
 The aging population in Asia and the Pacific is set to nearly double by 2050 to 1.2
billion or 25.2% of the regional population, emphasizing the need for pension,
welfare, and healthcare programs.
 Governments are urged to invest in health, education, skills, and retirement
preparedness.
 The financial preparedness index shows high shares of financially prepared near-
old people in Japan (86%) and India (73%), lower in China (64%) and South Korea
(58%).
 In India, China, and South Korea, 80-90% of retirement finances come from
private income and assets.
 Life expectancy at age 60 is forecasted to increase by 3.7 years for women and
4.1 years for men from 2022 to 2050.

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 Older women in India are expected to see the highest life expectancy increase
(6.4 years).
 40% of people over 60 in Asia-Pacific lack pension access, with women
disproportionately affected.
 The average labor force participation rate for people aged 65 and over was 32.0%
for men and 15.2% for women.
 Indian Scenario:
 India is enhancing health insurance for older citizens through schemes like
Ayushman Bharat, covering the bottom quartile.
 The Insurance Regulatory and Development Authority of India (IRDAI) removed
the age limit of 65 for buying health insurance from 1st April 2024.
 India also needs to extend essential services to optimize older people’s physical
and functional capacity.
 Over half of those lacking healthcare access in Bangladesh, Indonesia, and India
are in the bottom two wealth quintiles.
 India's economic growth impact from an aging population in 2031-2040 is

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 expected to be lower due to its young population demographics.
3.2 Overview of World Press Freedom Index 2024: India ranks 159th, Norway Tops
 India's Ranking in World Press Freedom Index (WPFI 2024) :
 India is ranked 159th out of 180 countries with a score of 31.28.
 In 2023, India was ranked 161st with a score of 36.62.
 Top and Bottom Rankings:
 Norway tops the 2024 index for the 8th consecutive year.
 Denmark is ranked 2nd, followed by Sweden in 3rd place.
 The bottom three countries are Eritrea (180th), Syria (179th), and Afghanistan
(178th).
 About WPFI:
 It is an annual ranking of countries based on press freedom.
 Compiled and published by RSF since 2002.
 Ranks 180 countries based on journalists' ability to work freely across five
categories: Political Context, Legal Framework, Economic Context, Social Context,
and Security.

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 Press Freedom Situation in India:
 RSF report states press freedom is in crisis in India.
 9 journalists and 1 media worker have been detained as of May 3, 2024.
 No journalist/media worker has been killed in India since January 2024.
 India's media has faced an "unofficial state of emergency" since Narendra Modi
came to power in 2014.
 Laws like the 2023 Telecommunications Act, the 2023 draft Broadcasting Services
(Regulation) Bill, and the 2023 Digital Personal Data Protection Act give
government power to control media.
 Government-critical journalists face online harassment, threats, and physical
attacks, with reporters from Kashmir often harassed and detained by authorities.
 Global Overview of WPFI 2024:
 The political indicator, one of five indicators, has seen a decline, with a global
average fall of 7.6 points.
 The Maghreb-Middle East region has the worst situation in the 2024 WPFI,
followed by the Asia-Pacific region.

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  Less than 10% of Africa is in a "very serious" situation, with almost 50% of
countries in a "difficult" situation.
3.3 World’s Wealthiest Cities Report 2024 by Henley & Partners: New York Tops
 Wealthiest Cities in the World:
 New York City, USA: Retained its title as the Wealthiest City.
 349,500 millionaires, 744 centi-millionaires, and 60 billionaires.
 Total wealth exceeds USD 3 trillion.
 California's Bay Area, USA: Ranked 2nd.
 Tokyo, Japan: Ranked 3rd.
 Singapore, Singapore: Ranked 4th.
 London, UK: Ranked 5th.
 Indian Cities Among Top 50:
 Mumbai, Maharashtra (24th) :
 58,800 millionaires, 236 centi-millionaires, and 29 billionaires.
 Delhi (37th) :
 30,700 millionaires, 123 centi-millionaires, and 16 billionaires.
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 Over the past decade (2013-2023), Mumbai's millionaire population increased by
82%, and Delhi's increased by 95%.
 Key Highlights:
 USA Dominance:
 11 cities in the Top 50, making it the World's richest country.
 China's Presence:
 5 cities in mainland China, along with Hong Kong and Taipei.
 Beijing made it to the Top 10 for the first time, ranking 10th with a 90% surge in
millionaires over the past decade.
 Decline of London:
 London dropped to the 5th position with a 10% decline in millionaires population
over the past 10 years.
 Potential Growth Cities:
 Bengaluru, Scottsdale, and Ho Chi Minh City are expected to see significant
wealth increase over the next decade.
 These cities have registered over 100% growth rates in their millionaire

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 populations over the past 10 years.
 Dubai's Wealth:
 Emerged as the wealthiest city in the Middle-East with a 78% growth in
millionaire population over the past 10 years.
 Ranked 21st in the list.
3.4 India Received over USD 111 Billion in Remittances in 2022: UN’s International
Organization for Migration(IOM)
 Global Remittance Scenario:
 India received over USD 111 billion in remittances in 2022, becoming the first
country to surpass the USD 100 billion mark.
 International remittances surged by 650% from USD 128 billion to USD 831 billion
between 2000 and 2022.
 Top Remittance Recipients:
 India topped the list with USD 111 billion, followed by Mexico (USD 61.10 billion).
 China, formerly 2nd, dropped to 3rd with USD 51 billion, followed by The
Philippines (USD 38.05 billion) and France (USD 30.4 billion).

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 Remittance Trends in South Asia:
 Only India, Pakistan (6th position with USD 30 billion), and Bangladesh (8th
position with USD 21.5 billion) are among the top 10 recipients of international
remittances.
 Migrants from countries like India, Egypt, Bangladesh, Ethiopia, and Kenya
predominantly work in sectors such as construction, hospitality, security,
domestic work, and retail.
 Risks Faced by Migrants:
 Migrants from the sub-region face risks like financial exploitation, excessive
financial debt due to migration costs, xenophobia, and workplace abuses.
 Preferred Destination for Migrants:
 Gulf countries, particularly the United Arab Emirates (UAE), Kuwait, and Qatar,
remained favorable destinations for migrant workers.
 Migrants in UAE, Kuwait, and Qatar accounted for 88%, 73%, and 77% of the
population, respectively.
 International Mobile Students:

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 The USA is the largest destination for international mobile students, followed by
the UK, Australia, Germany, and Canada.
 Asian countries, especially China and India, are major origins of internationally
mobile students.
 Gender Distribution among Migrants:
 Countries like the US, Canada, and France have more female than male
international migrants.
 India, Bangladesh, and Pakistan have a higher percentage of male emigrants than
females.
 India-Specific Findings:
 India is the largest source of migrants globally, with nearly 1.8 million people,
accounting for 1.3% of India’s population, being international migrants.
 India has consistently been one of the top recipients of remittances in 2010,
2015, and 2020.
 India is the 13th most popular destination country globally for immigrants,
hosting 4.48 million immigrants from various countries.

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  India has four major migration corridors with other countries, including UAE, USA,
Saudi Arabia, and Bangladesh, among the top 10 international migration
corridors.
3.5 World Bank Report: Annual Investments of USD 260 Billion Needed to Halve
Agrifood Emissions by 2030; Achieve Net Zero by 2050
 Investment Requirement:
 Annual investments need to increase by an estimated 18 times, reaching USD 260
billion a year.
 This increase is necessary to halve current agrifood emissions by 2030 and
achieve net zero emissions by 2050.
 Key Findings of the Report:
 The global agrifood system can potentially cut nearly one-third of global GHG
emissions through accessible measures.
 These actions promise enhanced food security, resilience against climate change,
and protection for vulnerable populations.
 Emissions from agrifood must reach net zero by 2050 to meet the 1.5°C target,

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 highlighting its critical role in global climate goals.
 Benefits could amount to USD 4.3 trillion by 2030, offering a 16-to-1 return on
investment costs.
 Challenges in Achieving Net Zero Emissions:
 Agrifood contributes significantly to climate change, accounting for almost one-
third of global emissions.
 Developing countries bear the brunt of agrifood emissions, necessitating action
across all income levels.
 The top 10 agrifood system emitters include high-income, middle-income, and
low-income countries, indicating a need for global action.
 Financial Constraints:
 Only 2.4% of total mitigation finance is allocated to reducing agrifood emissions.
 The sector lags behind others in receiving adequate funding for climate action.
 India's Contribution and Challenges:
 In India, 60% of agrifood emissions originate from the farm gate, with the
livestock sector being a major contributor.

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  Despite relatively low emission intensity in rice production, India's scale of
production still results in considerable emissions.
3.6 India Overtakes Japan To Become World’s 3rd Largest Solar Power Generator
 India's Solar Power Achievement:
 In 2023, India surpassed Japan to become the world’s third-largest producer of
solar power, generating 113 Terawatt-hour (TWh) compared to Japan’s 110 TWh.
 This marked India’s significant rise from being 9th in solar energy deployment in
2015.
 India’s solar generation increased 17 times from 0.5% in 2015 to reaching 5.8% in
2023.
 Wind generation also increased slightly from 2.5% to 4.2% in 2023.
 Global Solar Power Trends:
 India witnessed the world’s fourth-largest increase in solar generation in 2023,
with a growth of 18 TWh.
 China led global solar production in 2023, producing 584 TWh, surpassing the
combined output of the United States, Japan, Germany, and India.

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 Installed Capacity and Ranking:
 In terms of installed power capacity, India ranked 5th globally at 73 Gigawatts
(GW), while Japan stood at third place with 83 GW.
 Global Electricity Generation:
 Solar power accounted for a record 5.5% of global electricity in 2023, while wind
power provided a higher share at 7.8%.
 Solar remained the fastest-growing electricity source globally for the 19th
consecutive year, outpacing coal.
 Global growth in solar generation (+307 TWh, +23%) outpaced wind (+206 TWh,
+9.8%).
 Discrepancies in Solar Production:
 As of May 2024, solar power constituted 18% of India’s installed electricity
capacity (442 GW) but only 6.66% of actual production.
 Discrepancies between installed capacity and actual power production highlight
fluctuations in demand and local circumstances.
 Renewable Energy Contribution:

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  Globally, renewable energy contributed 30% of electricity production in 2023,
with significant contributions from solar and wind power.
 China accounted for 51% of additional global solar generation and 60% of new
global wind generation.
 India's Fossil Fuel Dependency:
 In 2023, India generated 78% (1,536 TWh) of its electricity from fossil fuels, higher
than the global average of 61% and the regional average of 68% in Asia.
 India was the third-largest power sector emitter globally, emitting 1,404 million
tonnes of CO2 from electricity generation, behind China (5,491 MtCO2) and the
US (1,570 MtCO2).
 India's Renewable Energy Plans:
 India plans to triple renewable capacity by 2030, aiming for 509 GW.
3.7 Illegal trafficking of Wildlife Remains Prevalent: UNODC 3rd World Wildlife
Crime Report
 UNODC World Wildlife Crime Report 2024:
 The United Nations Office on Drugs and Crime (UNODC) has released the 3rd

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 edition of its World Wildlife Crime Report titled ‘World Wildlife Crime Report
2024: Trafficking in Protected Species’.
 The report highlights the persistent issue of illegal trafficking in plant and animal
wildlife.
 Report Summary:
 Preparation and Purpose:
 The report is prepared by the Research and Trend Analysis Branch of the UNODC.
 It presents recent trends in the illicit trafficking of protected species and provides
a comprehensive assessment of the causes and global implications of wildlife
crime.
 Data and Analysis:
 The study, published every four years, uses data from 2020-2021 to analyze the
scope of illegal wildlife trade.
 The first and second editions were published in 2016 and 2020, respectively.
 Key Highlights:
 Seizure Data:

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 Seizures in 2020 and 2021 were about half compared to previous years, likely due
to COVID-19 disruptions rather than a true decline in trafficking.
 From 2015 to 2021, 13 million items were seized, indicating illegal trade involving
around 4,000 species across 162 countries and territories.
 Approximately 3,250 of these species are listed in the Convention on
International Trade in Endangered Species of Wild Fauna and Flora (CITES)
Appendices.
 Most Trafficked Species:
 The most trafficked species were corals (16%), crocodilians (9%), and elephants
(6%).
 SDG Indicator:
 For the first time, an indicator on progress towards Sustainable Development
Goal (SDG) target 15.7 was included to end trafficking of protected species of
flora and fauna.
 Positive Trends:
 Trafficking of elephant ivory and rhinoceros horn has dropped.

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  Recommendations:
 The report calls for improved enforcement and implementation of legislation,
including anti-corruption measures.
 Wildlife crime, including the trafficking of rare plants and animals, has
contributed to local or global extinctions, necessitating stronger actions against it.
3.8 THE Young University Rankings 2024: Mahatma Gandhi University Tops
Universities; Singapore’s NTU tops globally among Indian
 Times Higher Education (THE) Young University Rankings 2024.
 Global and Indian Highlights:
 Mahatma Gandhi University (MGU) in Kottayam, Kerala, ranked 81st globally, is
the highest-ranking Indian university.
 Nanyang Technological University (NTU), Singapore, has topped the global
ranking for the 2nd consecutive year.
 Anna University, Chennai, Tamil Nadu (TN), ranked 96th, is the only other Indian
university featured among the top 100.
 Representation of Indian Universities:

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 India is represented by 55 institutions in the 2024 ranking, an increase from 45 in
2023 and 26 in 2020.
 Top Indian universities in the 2024 ranking include:
 IIT Gandhinagar, Gujarat (151)
 International Institute of Information Technology (IIIT), Hyderabad, Telangana
(151)
 Amrita Vishwa Vidyapeetham, Coimbatore, TN (163)
 Indian Institute of Science Education and Research (IISER), Pune, Maharashtra
(165)
 KIIT University (Kalinga Institute of Industrial Technology), Bhubaneswar, Odisha,
has climbed to 11th rank among Indian universities, improving from the 151-200
rank in 2023 to 168 in 2024.
 KIIT University is ranked ahead of institutions like Indraprastha Institute of
Information Technology (IIIT) Delhi (201-250) and IIT Ropar, Punjab (201-250).
 About KIIT University:
 KIIT attained deemed-to-be university status under Section 3 of the University

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 Grants Commission (UGC) Act, 1956, in 2004, as conferred by the Government of
India.
 THE Young University Ranking 2024 Overview:
 The rankings list the world’s best universities that are 50 years old or younger.
 Universities are evaluated based on 18 performance indicators.
 The 2024 ranking includes 673 universities, up from 605 in 2023.
 An additional 499 institutions are listed with "reporter" status, meaning they
provided data but did not meet the eligibility criteria to receive a rank.
 Key Highlights of Global Trends:
 The number of Asian universities on the list has doubled in five years, from 165 in
2020 to 327 in 2024, representing 49% of the table in 2024.
 The number of universities from Africa has increased from 39 in 2020 to 77 in
2024, with the share of African universities increasing from 9% to 11%.
 Australia has the highest average score for its universities, followed by Germany
and France.
3.9 WB Report “Water for Shared Prosperity” Highlights Importance of Access to

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 Safe Drinking Water
 Release of the Report:
 The global flagship report titled “Water for Shared Prosperity” was co-published
by the World Bank and the Government of Indonesia.
 It was released during the 10th World Water Forum held in Bali, Indonesia.
 Importance of Safe Water Access:
 The report underscored the significance of access to safe drinking water and
sanitation for both human and economic development.
 About the 10th World Water Forum:
 Held from 18th to 25th May 2024 with the theme “Water for Shared Prosperity”.
 Provides a platform for the water community and decision-makers to collaborate
on global water challenges.
 Organized by the World Water Council based in Marseille, France.
 Significance of the Report:
 Aims to identify water challenges and risks faced by marginalized populations and
inform policies for enhancing water accessibility and climate resilience while

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 alleviating poverty and promoting shared prosperity.
 Key Findings:
 Highlighted that 2.2 billion people lacked access to safe drinking water services
and 3.5 billion lacked safely managed sanitation in 2022.
 Lack of access resulted in 1.4 million annual deaths and 50% of global
malnutrition.
 Outlined four components of prosperity: education, jobs and income, peace and
social cohesion, and the environment.
 Revealed an increase in people lacking safe water and basic sanitation over the
past two decades due to climate change, with developing countries being most
affected.
 Recommendations:
 Protecting depleting aquifers, implementing nature-based solutions like
reforestation, and investing in water storage infrastructure.
 Upgrading housing and land use regulations to mitigate flood risks and
implementing Early Warning Systems (EWS) and insurance to tackle extreme

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 weather conditions.
 Reforming water tariffs and subsidies for fair allocation of resources, and
enhancing service provider operations to reduce water losses and operating
costs.
3.10 WEF’s Travel & Tourism Development Index 2024: India ranked 39th; USA
tops
 India's Ranking in TTDI 2024:
 India is ranked 39th among 119 economies in the Travel & Tourism Development
Index (TTDI) 2024 with a score of 4.25.
 In TTDI 2021, India was ranked 54th with a score of 4.1, indicating an
improvement in ranking and score.
 Global Rankings:
 The United States of America (USA) tops the list with a TTDI score of 5.24,
followed by Spain (5.18) and Japan (5.09) at 2nd and 3rd rank respectively.
 Mali is placed at the bottom of the Travel and Tourism Development Index 2024
with a score of 2.78.

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 About TTDI:
 Compiled in collaboration with the University of Surrey in the United Kingdom
(UK).
 Evolved from the Travel & Tourism Competitiveness Index (TTCI) series, a flagship
index of WEF since 2007.
 Covers 119 countries' travel and tourism sectors across various factors and
policies.
 Indian Scenario:
 India showcases strong price competitiveness (18th) and competitive air
transport (26th), ground, and port infrastructure (25th).
 Ranks high in natural (6th), cultural (9th), and non-leisure (9th) resources, making
it one of three countries in the top 10 across all resource pillars.
 Global Scenario:
 West Asia saw the highest recovery in international tourist arrivals, surpassing
2019 levels by 20%.
 Europe, Africa, and the Americas exhibited robust recoveries at about 90% of

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 2019 levels in 2023.
 High-income economies generally have more favorable conditions for travel and
tourism development.
 Improvements in TTDI Scores:
 Among 71 economies with improved TTDI scores since 2019, 52 are from low to
upper-middle-income brackets.
 Saudi Arabia (+5.7%, 50th to 41st) and the United Arab Emirates (UAE) (+4.4%,
25th to 18th) are the only high-income economies in the top 10 most improved.
 Developing nations with notable improvements include Uzbekistan, Côte d’Ivoire,
Albania, Tanzania, and Indonesia.
3.11 Rangelands Faces Silent Demise Threatens Food Security; Losses 50% of
Rangelands: UNCCD Report
 Report Overview:
 The UNCCD released the report titled “Global Land Outlook Thematic Report on
Rangelands and Pastoralists” in Ulaanbaatar, Mongolia.
 It reveals that up to 50% of the world’s vast rangelands are degraded, nearly

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 double the previous estimates ranging from 20% to 35%.
 About Rangelands:
 Rangelands are vast open land areas used by livestock and wild animals for
grazing, including savannas, shrublands, and wetlands.
 They cover 80 million square kilometers, constituting 54% of all land on earth,
and account for 1/6th of global food production and 33% of the earth's carbon
reservoir.
 Economic Significance:
 Livestock production contributes significantly to GDP in countries like Ethiopia
and India.
 Brazil's beef production accounts for 16% of the world's total, supporting a third
of its agribusiness GDP.
 Livestock production provides employment for around 80% of the population in
many Western African states.
 Key Symptoms of Degradation:
 Symptoms include soil fertility decline, erosion, salinization, and soil compaction,

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 which restrict plant growth and contribute to droughts and biodiversity loss.
 Causes of Degradation:
 Degradation is attributed to land use changes, urban expansion, excessive
grazing, abandonment, and policies incentivizing overexploitation.
 Regions Affected by Degradation:
 Central Asia, China, and Mongolia are the most affected regions, followed by
North Africa, Near East, Sahel, West Africa, and South America.
 Degradation in India:
 Around 120 million hectares of land in India are degraded due to various factors
such as erosion, contamination, and physical degradation.
 Recommendations:
 Integrate climate change strategies with management plans.
 Prevent land use changes that decrease rangeland diversity.
 Adopt effective rangeland conservation measures.
 Promote pastoralism-based strategies and practices.
 Encourage supportive policies involving wider participation for rangeland

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 protection.
 Key Facts:
 Rangelands cover 9.5 million square kilometers globally, constituting 12% of
protected rangelands.
 Livestock supports 1.2 billion people living under the poverty threshold.
 Pastoralists maintain about 1 billion animals across more than 100 countries,
supplying 10% of the world's meat.
 Rangelands host 33% of global biodiversity hotspots.
3.12 Global Carbon Emissions Pricing Raised Record USD 104 Billion in 2023:
World Bank Report
 Report:
 According to the World Bank (WB)’s 11th annual report titled “State and Trends
of Carbon Pricing 2024”, total revenues from carbon taxes and Emissions Trading
Systems (ETSs) in 2023 have reached a record high of USD 104 billion. This marks
the first time that carbon pricing revenues have crossed the threshold of USD 100
billion. The total revenue from carbon taxes and ETS in 2022 was about USD 95

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 billion. The report also noted that the price levels continue to fall short of the
ambition needed to achieve the 2015 Paris Climate Agreement goals.
 Key Findings:
 At present, there are 75 carbon pricing instruments in operation worldwide,
increased by 2 instruments compared to 73 instruments mentioned by the World
Bank in its last year report (2023).
 These instruments covered around 24% of global Greenhouse Gas (GHG)
emissions.
 Large Middle-Income countries including India, Brazil, Chile, Colombia, and
Türkiye have made positive progress towards carbon pricing implementation.
 Currently, less than 1% of global GHG emissions are covered by direct carbon
price at or above the range cover recommended by the High-Level Commission
on carbon prices to limit temperature rise below 2 degrees Celsius.
 The report mentioned that traditional sectors like power and industry contributed
maximum in carbon pricing. It considers new sectors for carbon pricing which are
aviation, shipping, and waste.

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  It suggests governments consider carbon pricing for sectors such as iron and
steel, aluminum, cement, fertilizers, among others.
 Carbon Price:
 In 2017, the High-Level Commission on Carbon Prices concluded that carbon
prices needed to be USD 40-80/ton of carbon dioxide equivalent (tCO2e) in 2020
and reach USD 50-100/tCO2e by 2030 to be on track to limit temperature rises to
well below 2 degrees Celsius.
 In 2024, only 7 carbon pricing instruments, covering less than 1% of global GHG
emissions.
 Adjusted for inflation, the carbon prices should now be in USD 63 to 127 per ton.
 About Carbon Pricing: Carbon pricing is an instrument that captures the external
costs of GHG emissions. It is paid by the public for damage to crops, healthcare
costs from heatwaves and droughts, and loss of property from flooding and sea-
level rise, tying them to their sources through a price, usually in the form of a
price on the carbon dioxide (CO2) emitted.
3.13 Oxford Economics’ Global Cities Index 2024: Delhi ranks 350th & tops

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 among Indian City; New York Tops 2024 Index
 Delhi's Ranking in Global Cities Index 2024:
 Delhi secured the 350th position among the world's largest 1,000 cities, emerging
as the highest-ranked Indian city.
 Top Performers in the Index:
 New York City, USA, claimed the top spot in the 2024 Index, followed by London,
UK, and San Jose, USA, at the second and third ranks respectively.
 Overview of Global Cities Index 2024:
 The index evaluates 1,000 cities across 163 countries based on 27 indicators
categorized into Economics, Human Capital, Quality of Life, Environment, and
Governance.
 Cities are classified into different regions, including North America, Western
Europe, Central America and the Caribbean, Middle East and North Africa, South
America, Sub-Saharan Africa, Eastern Europe and Central Asia, Southern Asia, East
Asia, and Oceania.
 Performance of Indian Cities:

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 Delhi outperformed Mumbai across various metrics except for the Environment
category.
 Indian cities collectively ranked 380th in the Governance category.
 Sultanpur, Uttar Pradesh, ranked at the lowest position (1000th spot) among all
Indian cities featured in the index.
 Other Indian cities listed in the index include Kolkata, West Bengal (528th), Pune,
Maharashtra (534th), and Thrissur, Kerala (550th).
 Global Scenario:
 The top 10 cities in the index are located in North America, Western Europe, East
Asia, and Oceania.
 New York leads in the Economics category, followed by Los Angeles and San Jose,
with seven US cities among the top 10.
 London tops the Human Capital category, with Tokyo and Riyadh following
closely.
 Grenoble, France, leads in Quality of Life, while Suva (Fiji), Fortaleza (Brazil), and
San Juan (Puerto Rico) perform well in the Environment category.

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  Auckland, Christchurch, and Wellington of New Zealand rank highest in the
Governance category.
3.14 THE Asia University Rankings 2024: IISc Topped among Indian Institutes;
China’s Tsinghua University Tops
 THE Asia University Rankings 2024:
 Ranked 739 universities from 31 countries/regions.
 Represents an increase of 10.5% from 669 in 2023.
 Top Ranked Institutions:
 Tsinghua University (China) topped the list for the 6th consecutive year.
 Followed by Peking University (China) and National University of Singapore (NUS)
(Singapore) at 2nd and 3rd rank respectively.
 Indian Representation:
 Indian Institute of Science (IISc), Bengaluru, ranked 32nd, is the highest ranked
Indian institution.
 Total of 91 Indian institutions featured in the 2024 list (up from 75 in 2023).
 Performance Indicators:

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  Rankings based on 18 performance indicators, expanded from 13 in 2023.
 Indicators grouped into 5 areas: Teaching, Research environment, Research
quality, International outlook, and Industry.
 Indian Scenario:
 IISc, Bengaluru, is the sole Indian institution in the top 50 and top 100 Asian
Universities.
 In 2023, four Indian institutes/universities were in the top 100.
 Shoolini University of Biotechnology and Management Sciences (Himachal
Pradesh) dropped from 77th (2023) to 150th (2024) while Mahatma Gandhi
University (Kerala) dropped from 95th (2023) to 134th (2024).
3.15 Bank Credit Growth to Slip 200 bps to 14% in FY25: CRISIL Ratings
 Bank Credit Growth Outlook:
 Expected to moderate by ~200 basis points (bps) (2%) to ~14% in FY 2024-2025,
compared to ~16% growth in FY 2023-2024.
 Strong economic activity and retail credit demand were primary drivers of loan
growth in the previous fiscal year.

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 Factors Affecting Growth in FY25:
 Moderation influenced by a high base effect, revised risk weights, and slightly
lower Gross Domestic Product (GDP) growth at 6.8% in FY25, compared to 7.6% in
FY24.
 Fundamental drivers of credit demand remain strong, with private corporate
capital expenditure (capex) expected to revive in the 2nd half of fiscal 2025.
 Segment-Wise Growth Expectations:
 Corporate Credit (~45% of bank credit):
 Expected to grow at ~13%, driven by private sector industrial capex.
 Retail Credit (~28% of bank credit):
 Forecasted to grow fastest at ~16%, despite a slight moderation from ~17% in
fiscal 2024.
 Micro, Small, and Medium Enterprises (MSME) Credit (~16% of overall credit):
 Estimated growth of ~15% (from 19% in FY24), supported by downstream capex
and government initiatives, and improved sector formalization.
 Agricultural Credit:

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 Growth linked to monsoon trends, with moderation expected after a strong fiscal
2024.
 Influence of Deposit Growth on Credit Growth:
 Pace of deposit growth will influence credit growth, with banks relying more on
excess Statutory Liquidity Ratio (SLR) holdings.

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 4 . International Organization Current Affairs

4.1 UN’s 1st International Conference on DPI held under India’s Leadership in New
York
 United Nations Conference on Citizen Stack:
 The first United Nations (UN) Conference on ‘Citizen Stack: Digital Public
Infrastructure, Transformative Technology for Citizens’ was held at UN
headquarters in New York, United States (US) under India’s leadership.
 The conference aimed to harness technology to propel Sustainable Development
Goals (SDGs) and foster inclusivity.
 India introduced its Digital Public Infrastructure (DPI) framework as a global
standard, sharing its 'Citizen Stack' initiative to encourage other nations to
develop their own DPI.
 India Stack and DPI:
 India Stack is a collection of technology products and frameworks aimed at
providing digital services to Indian citizens.

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 DPI, on the other hand, consists of digital infrastructure components and
Application Programming Interfaces (APIs) that enable the delivery of digital
services, utilizing Aadhar, eSign, Digilocker, and Unified Payments Interface (UPI).
 Key Points from the Conference:
 Global leaders, tech innovators, and policy experts convened to discuss the global
adoption of DPI.
 Discussions also focused on how DPI ensures data protection and privacy in the
deployment of digital infrastructures.
 India Stack was cited as a successful example of technology integration into
citizen services, fostering international cooperation for the development of digital
infrastructure globally.
 The conference emphasized utilizing technology for achieving Sustainable
Development Goals (SDGs) and promoting inclusivity.
 Emphasis was placed on public-private partnerships driving innovation, with
contributions from startups, Multi-National Companies (MNCs), and academia.
 Examples from countries like the Philippines and Ethiopia were showcased,

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 demonstrating varied paths to similar national outcomes of delivering services to
citizens using digitization.
4.2 UAE-India CEPA Council inks MoU with Indian Chamber of Commerce
 MoU Signing:
 The UAE-India CEPA Council (UICC) and the Indian Chamber of Commerce (ICC)
have signed a Memorandum of Understanding (MoU).
 The MoU aims to enhance economic and trade relations between the United Arab
Emirates (UAE) and India.
 Objective:
 To promote awareness of the UAE-India bilateral economic partnership.
 To highlight the benefits of the UAE-India Comprehensive Economic Partnership
Agreement (CEPA).
 Comprehensive Collaboration:
 UICC and ICC will establish comprehensive collaboration efforts.
 The focus will be on public promotion, increasing awareness, and mobilizing
private sector stakeholders for economic engagement between the two nations.

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 Activities and Initiatives:
 The collaboration will include dialogue, information sharing, and joint events.
 These activities will facilitate member interactions and promote the roles of both
organizations.
 Trade and Economic Growth:
 The MoU is expected to boost trade volumes between India and the UAE.
 It will extend the benefits of favorable trade policies to enterprises in both
countries.
 The initiative aims to create economic growth opportunities.
 UICC Establishment:
 The UICC was established in 2024.
 Since its establishment, bilateral trade has surged by nearly 16%, reaching USD
84.5 billion over the fiscal year from April 2022 to March 2023.
 Sectoral Growth:
 Sectors such as gems and jewellery, pharmaceuticals, and fruits and vegetables
have witnessed significant growth as a result of the bilateral trade surge.

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4.3 China emerged as Largest Trading Partner of India in FY24 with USD 118.4
Billion: GTRI Report
 Introduction:
 The Global Trade Research Initiative (GTRI) published data showing that China
emerged as India's largest trading partner with USD 118.4 billion in two-way
commerce in FY24 (2023-24).
 The United States (U.S.A.) was the second-largest trading partner with USD 118.3
billion in trade in FY24.
 India-China Trade Relations:
 China replaced the U.S.A. as India's largest trading partner in FY24 after a gap of
two years.
 India’s exports to China increased by 8.7% to USD 16.67 billion in FY24 compared
to FY23.
 Main sectors contributing to this growth include iron ore, cotton yarn/fabrics,
handlooms, spices, fruits, and vegetables.
 India's imports from China increased by 3.24% to USD 101.7 billion in FY24.

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 Critical products for India’s dependence on China include telecom and
smartphone parts, advanced technology components.
 India imported telecom and smartphone parts worth USD 4.2 billion from China,
which is 44% of total imports in the telecom sector.
 India imported laptops and personal computers (PCs) worth USD 3.8 billion from
China, which is 77% of India’s imports in this sector.
 India is heavily dependent on China’s Lithium, which is critical for the
electrification of the transport sector.
 India imported USD 2.2 billion worth of Lithium from China, which is 75% of
India’s imports in this sector.
 India’s trade deficit with China increased from USD 53.57 billion in FY19 to USD
85.09 billion in FY24.
 This is due to the stagnant growth of India’s exports to China, which remained
almost the same between FY19 and FY24.
 India’s exports to China saw a marginal decline of 0.6%, decreasing from USD
16.75 billion to USD 16.66 billion.

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 Imports from China increased by 44.7%, rising from USD 70.32 billion to USD
101.75 billion.
 India-U.S. Trade Relations:
 India-U.S. bilateral trade stood at USD 118.3 billion in FY24.
 India’s exports to the U.S. decreased by 1.32% to USD 77.5 billion in FY24
compared to FY23.
 Imports from the U.S. decreased by 20% to USD 40.8 billion in FY24.
 Between FY19 and FY24, trade with the U.S. showed positive growth.
 India’s exports to the U.S. increased by 47.9%, rising from USD 52.41 billion to
USD 77.52 billion.
 Imports from the U.S. increased by 14.7%, growing from USD 35.55 billion to USD
40.78 billion.
 This resulted in an expanded trade surplus for India, increasing from USD 16.86
billion to USD 36.74 billion.
 India's Trade with Other Countries:
 The United Arab Emirates (U.A.E.) was the third-largest trading partner of India in

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 FY24 with USD 83.6 billion in trade.
 Russia was the fourth-largest trading partner with USD 65.7 billion.
 Saudi Arabia was the fifth-largest with USD 43.4 billion.
 Singapore was the sixth-largest with USD 35.6 billion.
 India-U.A.E. Bilateral Trade:
 India’s exports to the U.A.E. increased by 18.3%, rising from USD 30.13 billion to
USD 35.63 billion between FY19 and FY24.
 Imports from the U.A.E. increased significantly by 61.2%, rising from USD 29.79
billion to USD 48.02 billion.
 This led to a marginal trade surplus of USD 30.34 billion turning into a deficit of
USD 12.39 billion by FY24.
 India-Russia Bilateral Trade:
 India’s exports to Russia increased significantly by 78.3%, rising from USD 2.39
billion to USD 4.26 billion between FY19 and FY24.
 Imports from Russia surged by 952%, rising from USD 5.84 billion to USD 61.44
billion.

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  This widened the trade deficit from USD 3.45 billion to USD 57.18 billion.
 India-Saudi Arabia Bilateral Trade:
 India’s exports to Saudi Arabia increased by 107.9%, rising from USD 5.56 billion
to USD 11.56 billion between FY19 and FY24.
 Imports from Saudi Arabia increased marginally by 11.7%, rising from USD 28.48
billion to USD 31.81 billion.
 This slightly reduced the trade deficit from USD 22.92 billion to USD 20.25 billion.
4.4 WHO Releases 1st Global Guidelines to Reduce Bloodstream Infections from
Catheter Use
 Publication of WHO Guidelines:
 The World Health Organization (WHO) has published its first global guidelines
titled “Guidelines for the prevention of bloodstream infections and other
infections associated with the use of intravascular catheters: part I: peripheral
catheters.”
 The guidelines aim to combat bloodstream and other infections from catheter
usage in minor blood vessels during medical procedures.

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 Global Collaboration Priority:
 WHO emphasizes global collaboration to implement best practices.
 The goal is to mitigate bloodstream infections and ensure safe care for all
patients globally.
 About WHO’s Guidelines:
 The guidelines encompass 14 good practice statements and 23
recommendations.
 Key areas for health workers include:
 Education and training of health workers.
 Techniques of asepsis and hand hygiene practices.
 Insertion, maintenance, access, and removal of catheters.
 Catheter selection.
 Risk Factors and Complications:
 Poor practices in catheter insertion, maintenance, and removal carry a high risk of
introducing germs directly into the bloodstream.
 Infections can lead to severe conditions such as bloodstream infections, sepsis,

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 and complications in major organs.
 Soft tissue infections at catheter insertion sites can also occur.
 Scope of the Issue:
 Up to 70% of inpatients require the use of a catheter inserted into a peripheral
vein or artery, known as peripherally inserted catheters (PIVCs), during hospital
stays.
 Patients reliant on catheters are especially vulnerable due to illness or weakened
immunity.
 Mortality and Antibiotic Resistance:
 WHO estimated that between 2000–2018, healthcare-associated sepsis had a
mortality rate of 24.4%.
 Antibiotic-resistant bacteria contribute significantly to bloodstream infections,
causing millions of deaths annually.
 In 2019, bacterial antimicrobial resistance (AMR) directly caused at least 1.27
million deaths and contributed to an additional 4.95 million deaths.
4.5 WIPO Concludes New Treaty on IP, GRs & ATK; Benefits Global South & India

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 New WIPO Treaty on Intellectual Property Genetic Resources (GRs) and
Associated Traditional Knowledge (ATK) :
 Treaty Approval:
 World Intellectual Property Organization (WIPO) members have approved a new
treaty on Intellectual Property (IP) Genetic Resources (GRs) and Associated
Traditional Knowledge (ATK).
 For the first time, the system of knowledge and wisdom, which has supported
economies, societies, and cultures for centuries, is now inscribed into the global
IP system.
 Benefits for the Global South and India:
 This treaty will benefit countries of the global South, including India, a mega
biodiversity hotspot with an abundance of traditional knowledge and wisdom.
 It bridges the gap between local communities and their GRs and ATK for the first
time in the global IP community.
 Mandatory Disclosure Obligations:
 Implementation Requirements:

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 Upon ratification and entry into force, the treaty will require contracting parties
to implement mandatory disclosure obligations for patent applicants regarding
the origin of GRs.
 The treaty compels nations, including developed ones, to amend their legal
frameworks for robust implementation.
 Protection for Indian GRs:
 The treaty offers additional protection for Indian GRs and ATK, safeguarding them
against misappropriation in countries lacking disclosure obligations.
 Currently, only 35 countries have disclosure obligations, which are often not
mandatory and lack appropriate sanctions for effective enforcement.
 Safeguarding Biodiversity and Innovation:
 Biodiversity and Transparency:
 The WIPO treaty safeguards biodiversity and enhances transparency in the patent
system.
 It strengthens innovation by incentivizing inclusive participation and addressing
the needs of all nations and communities.

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 Global Support and Adoption:
 Collective Effort:
 The treaty's adoption, with consensus among over 150 countries, reflects a
collective effort spanning two decades of negotiations.
 Most developed countries generate IP by using these resources and knowledge
for research and innovation.
 Endorsement by Developed Countries:
 Developed countries’ endorsement signifies a crucial step towards bridging
conflicting paradigms within the IP system.
 About World Intellectual Property Organization (WIPO) :
 Establishment and Role:
 WIPO, established in 1967, is a self-funding agency of the United Nations (UN).
 It serves as a global forum for IP services, policy, information, and cooperation.

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 5 . National ESI & Finance Current Affairs

5.1 DoP Secretary, Dr. Arunish Chawla launches the Meditech Stackathon 2024 in
collaboration with CII at New Delhi
 Launch of Meditech Stackathon 2024:
 Organizers: Department of Pharmaceuticals (DoP), Ministry of Chemicals and
Fertilizers (MoC&F), in collaboration with the Confederation of Indian Industry
(CII).
 Location: New Delhi, Delhi.
 Objective: Revolutionize India’s MedTech sector through comprehensive value
chain analysis, fostering innovation, and reducing import dependence.
 Objectives of STACKATHON:
 Analyze diverse product segments in the medical devices industry.
 Identify key stakeholders and challenges hindering industry development.
 Focus on reducing import dependence, overcoming regulatory hurdles, and
addressing technological gaps.
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 Focused Groups in STACKATHON:
 Cancer Therapy
 Imaging
 Critical Care
 Assistive Medical Devices
 Body Implants
 Surgical Instruments and Hospital Equipment
 Consumables & Disposables
 IVD (In Vitro Diagnostic) Instruments and Reagents
 Key Points about India's MedTech Industry:
 Projected annual growth rate of 28% by 2030, reaching USD 50 billion.
 Ranks 4th in Asia and top 20 globally in the medical devices market.
 Net imports for 2022-23 totaled USD 4.1 billion, with an import coverage ratio of
0.45.
 Emphasis on quality to enhance global competitiveness.
 Exports have exceeded imports in consumables and disposables in 2023.

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5.2 India’s 1st Commercial Utility-Scale BESS Project Received Regulatory Approval
 Approval and Development:
 India's first commercial standalone Battery Energy Storage System (BESS) project
has received regulatory approval from the Delhi Electricity Regulatory
Commission (DERC).
 The project is a collaboration between BSES Rajdhani Power Limited (BRPL), India
Grid Trust (IndiGrid), and the Global Energy Alliance for People and Planet
(GEAPP).
 It will be a 20 MW/40 MWh BESS installed at BRPL's 33/11 kV Kilokari substation
in Delhi.
 Project Details:
 The initiative is supported by GEAPP's concessional loan amounting to 70% of the
total project cost.
 GEAPP aims to achieve 1 GW of BESS commitments in India by 2026, aligning with
India's goal of deploying 47 GW of BESS by 2032.
 Operations are expected to commence within 18 to 20 months.

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 The project will incorporate cutting-edge technologies for a cleaner, more
sustainable energy future.
 Notably, the project's annual tariff of Rs 57.6 lakh per MW is 55% lower than the
previous benchmark of Rs 130 lakh per MW per annum.
 Significance:
 Given India's substantial Variable Renewable Energy (VRE) penetration, exceeding
12% in certain regions, BESS integration in the distribution grid is crucial.
 The project will facilitate the uptake of low-cost VRE by BRPL.
 It offers a comprehensive Monitoring, Evaluation, and Learning (MEL) plan and
will share key aspects and learnings with other Indian Distribution Companies
(DISCOMs), state regulators, and power sector stakeholders in India and globally.
 The project will provide various benefits to DISCOMs such as reduced power
procurement costs, enhanced grid stability, and improved resource adequacy.
 The project's Special Purpose Vehicle (SPV), Kilokari BESS Private Limited, owned
by IndiGrid and Ampere-hour Energy, will receive payment from BRPL through a
fixed-capacity tariff on an availability basis, making it more attractive for

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 investors.
 Additional Information:
 GEAPP is an alliance of philanthropy, governments in emerging and developed
economies, and technology, policy, and financing partners.
 IndiGrid is the first Infrastructure Investment Trust (“InvIT”) in the Indian power
sector.
5.3 NPCI issues Guidelines for Merchant Acquisition on BHIM Aadhar Pay
 NPCI Guidelines for BHIM Aadhaar Pay (BAP) :
 Acquiring banks are now responsible for verifying merchant details for BHIM
Aadhaar Pay (BAP), where merchants receive digital payments through Aadhaar
Authentication.
 Banks are required to verify merchant details, whether directly onboarded or
through partners.
 The banks should assign appropriate Merchant Category Code (MCC) as per the
nature of the business, following specifications defined by the International
Organization for Standards (ISO).

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  MCCs like 6010, 6011, and 6012, used for cash-related services or miscellaneous
categories, should not be assigned to Merchants onboarded for BAP.
 Acquiring banks must ensure that cash withdrawal transactions are not allowed
on the BAP service’s merchants and should have oversight on such merchants.
 Acquiring banks are responsible for monitoring merchant activity, including
onboarding, transaction monitoring, and training.
 Banks should have a board-approved policy in place for merchant acquisition.
 Reviews or audits of third-party services engaged by the merchants are
mandated.
 Merchants associated with any acquiring bank on BAP can accept payments from
customers of any bank via biometric authentication.
 Participating banks include payments banks, small finance banks, cooperative
banks, regional rural banks, and mainline commercial banks.
5.4 DoT organized ‘Telecom Design Collaboration Sprint’ in Bengaluru
 Event and Organizer:
 The Department of Telecommunications (DoT) organized the 'Telecom Design

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 Collaboration Sprint'.
 This first-of-its-kind initiative was held at the International Institute of
Information Technology Bangalore (IIIT-B), Karnataka.
 Focus of Collaboration:
 The collaboration emphasizes deep-tech rapid ideation.
 The aim is to develop innovative solutions for a future-ready telecom stack.
 Objectives of the Sprint:
 Collective Strengths:
 Startups are encouraged to leverage their expertise in vital 5G infrastructure.
 This fosters innovation and accelerates the development of the telecom stack.
 Holistic Solutions:
 The collaboration aims to create comprehensive 5G solutions.
 It focuses on meeting current industry needs and anticipating future
advancements.
 Market Opportunities:
 The efforts aim to unlock market potential.

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  Startups are empowered to compete and thrive in the telecom sector.
 Key Outcomes:
 Formation of Outcome-Based Focus Groups:
 Discussions led to the formation of focus groups aimed at addressing gaps in the
Indian telecom ecosystem.
 These groups will prepare for upcoming technologies like 6G (sixth-generation
wireless).
 Focus areas include Core Infrastructure, Distribution Units (DUs), Radio Units
(RUs), Central Units (CUs), and other elements.
 The goal is to bridge current gaps and cater to future needs.
 Additional Working Groups:
 Two additional working groups were established.
 These groups will facilitate focused efforts on specific areas within the telecom
sector.
5.5 MSDE and Mahindra & Mahindra launch Pilot Projects to Empower Women in
Drone Technology

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 Memorandum of Understanding (MoU) :
 The Ministry of Skill Development and Entrepreneurship (MSDE) signed an MoU
with Mahindra & Mahindra Ltd. (M&M).
 The MoU initiates two pilot projects under the Drone Didi Yojana.
 Key Points:
 Agricultural Expertise:
 The partnership will leverage the agricultural expertise of M&M through
comprehensive training.
 Selected Centres:
 Two Centres of National Skill Training Institute (NSTI) in Hyderabad, Telangana,
and Noida, Uttar Pradesh (UP) were chosen for the pilot projects.
 The focus is on empowering rural women in agriculture.
 Training Program:
 The partnership aims to skill 500 women across exclusive batches of 20 women
each at NSTI centres.
 A 15-day curriculum approved by the Directorate General of Civil Aviation (DGCA)

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 will be used.
 The curriculum will be delivered through Remote Pilot Training Organisation
(RPTO) instructors at these centres.
 NSTI Support:
 NSTIs will provide infrastructure and hostel facilities.
 Local Women Self Help Groups (SHGs) and Non-Governmental Organizations
(NGOs) will be engaged for participant mobilization.
 Mahindra Group Contribution:
 Mahindra Group will provide initial setup support, including simulation
machinery, drones, simulator controllers, software, desktop computers with i5
processors, and trainers.
 They will also cover operating costs during the pilot projects, including DGCA
License Holder Instructors’ expenses at the centres.
 Drone Didi Yojana:
 Launched in 2023, Drone Didi Yojana aims to train 15,000 women in drone
operations for agricultural purposes.

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  The training includes fertilizing crops, monitoring crop growth, planting seeds,
and creating livelihood opportunities for women in new technology areas.
5.6 ISRO Chief S. Somanath Launched Zero Emission Initiative of SFO Technologies
 Launch of Carbon Reduction Initiative:
 Sreedhara Panicker Somanath, Chairman of ISRO and Secretary of the
Department of Space, Government of India, launched the carbon reduction
initiative of Kochi-based SFO Technologies, part of the NeST Group.
 This initiative aligns with the United Nations' objective of achieving 50% carbon
reduction by 2035 and zero emissions by 2040.
 Key Highlights:
 Chandrayaan Replica Unveiling:
 A replica of Chandrayaan was unveiled, symbolizing the cooperation between SFO
Technologies and ISRO.
 Opportunities in the Indian Space Industry:
 Sreedhara Panicker Somanath highlighted the tremendous opportunities
available for the private sector in the Indian space industry.

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  Future Industry Valuation:
 The Central Government envisions the Indian space industry growing to a USD 9
to 10 billion industry in the next 5 to 10 years.
 Currently, the Indian space industry is valued at USD 2 billion.
 Past Collaborations between ISRO and SFO Technologies:
 Chandrayaan Mission:
 SFO Technologies collaborated with ISRO on the Chandrayaan mission, providing
RF subsystems.
 Aditya Mission:
 SFO Technologies worked with ISRO on Aditya, India’s first mission to the Sun.
 Manufacturing Contributions:
 SFO Technologies contributed to manufacturing antenna systems and cryogenic
control systems for launch vehicles.
5.7 IAF Conducts Maiden Airdrop Test of BHISHM, World’s 1st Air-Lifted Portable
Hospital in Agra
 Event:

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 The Indian Air Force (IAF) conducted the first air drop test of BHISHM portable
cubes in Agra, Uttar Pradesh.
 BHISHM portable cubes are the world’s first air-lifted portable hospital.
 Project BHISHM:
 Named "Project BHISHM" (Bharat Health Initiative for Sahyog, Hita, and Maitri).
 Designed to treat up to 200 casualties, focusing on rapid response and
comprehensive care.
 Key Features of BHISHM Portable Cubes
 Aid Cube Equipment:
 Equipped with innovative tools to enhance disaster response and medical support
during emergencies.
 Utilizes Artificial Intelligence (AI) and Data Analytics for effective coordination,
real-time monitoring, and efficient management of medical services.
 Deployment:
 The Aid Cube can be deployed in just 12 minutes.
 Swift deployment bridges the crucial time gap from primary care to definitive

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 care, crucial for saving lives during the golden hour of emergencies.
 Modular Design:
 Consists of 72 detachable mini cubes.
 Each mini cube serves as a specialized station for emergency response and
humanitarian efforts.
 Flexible and easily transportable by hand, cycle, or drone.
 Robust Features:
 Cubes are robust, waterproof, and lightweight.
 Designed for different configurations, making them suitable for various
emergency scenarios.
5.8 AIC Signs MoU with CSC to Widen “Sampoorna Pashudhan Kawach” across
Rural India
 Agriculture Insurance Company of India Ltd. (AIC) and CSC e-Governance Services
India Ltd. MoU
 Partnership Announcement: AIC signed a Memorandum of Understanding (MoU)
with CSC e-Governance Services India Ltd. at AIC Head Office, New Delhi.

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 Purpose: To expand the reach of AIC’s cattle insurance product, “Sampoorna
Pashudhan Kawach.”
 Key Objectives
 Challenges Mitigation:
 Addressing lack of awareness among farmers.
 Overcoming limited veterinary services in rural areas.
 Educating farmers about the benefits of livestock insurance.
 Key Benefits
 Distribution Channel:
 CSC will leverage its extensive network of 6 lakh Common Service Centres (CSCs)
across rural India to distribute AIC’s insurance products.
 Product Coverage:
 The partnership will extend to other AIC products like Saral Krishi Bima and
Sampoorna Ritu Kavach.
 System-Enabled Processes:
 The entire process from enrollment, claim assessment, to policy servicing will be

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 system-enabled end to end.
 Additional Information
 CSC’s Role:
 CSC is a government-owned entity facilitating digital access to various services in
rural India, playing a pivotal role in this partnership.
5.9 3AI Holding & SML Launched India’s GenAI Platform ‘Hanooman’
 Partnership Announcement: 3AI Holding and Seetha Mahalaxmi Healthcare (SML)
India, based in Abu Dhabi and India respectively, have jointly launched India’s
homegrown generative artificial intelligence (GenAI) platform named ‘Hanooman
AI’.
 Language Support: The platform supports 98 global languages, including 12 Indian
languages such as Hindi, Marathi, Gujarati, Bengali, Kannada, Odia, Punjabi,
Assamese, Tamil, Telugu, Malayalam, and Sindhi.
 Target Sectors: Hanooman AI is designed to cater to four sectors: healthcare,
governance, financial services, and education.
 Open-Source Alternative: The platform offers an open-source alternative to

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 commercial Large Language Models (LLMs) while also providing a closed-source
model for enterprise on-premise solutions.
 Versatile Features:
 Hanooman AI is equipped to handle various tasks ranging from casual chats to
professional advice.
 It also has capabilities to handle complex technical tasks such as coding and
tutoring.
5.10 DAHD & UNDP India signs MoU on Digitalization of Vaccine Cold Chain
Management
 Parties Involved and Location:
 The Department of Animal Husbandry & Dairying (DAHD), Ministry of Fisheries,
Animal Husbandry & Dairying (MoFAHD), and the United Nations Development
Programme (UNDP) India signed a Memorandum of Understanding (MoU).
 The MoU signing took place at the UNDP Country office in New Delhi, Delhi.
 Aim:
 The aim of the MoU is to enhance animal health and husbandry practices by

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 leveraging UNDP’s expertise and DAHD’s mandate to establish a robust
framework in India.
 Initiatives Under the MoU:
 Development of Vaccine Cold Chain Management System:
 UNDP will support India's first animal vaccine supply chain management system in
collaboration with DAHD.
 This involves implementing new technology and Artificial Intelligence (AI) based
Animal Vaccine Intelligence Network (AVIN) to monitor the cold chain
infrastructure in real-time, ensuring proper management and delivery of vaccines
nationwide.
 Adoption of One Health Approach:
 A One Health approach will be adopted to digitalize and remotely monitor cold
chains, ensuring vaccines are stored at 2-8 degree Celsius.
 This initiative aims to improve immunization coverage, including the Foot and
Mouth diseases (FMD) vaccination program, targeting a significant number of
large and small animals.

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  Technical Assistance to Centre of Excellence for Animal Husbandry (CEAH):
 Technical assistance will be provided to the Centre of Excellence for Animal
Husbandry (CEAH) based in Bengaluru, Karnataka, to enhance its capabilities in
animal husbandry practices.
 Support for Livestock Insurance Programs:
 The MoU will support livestock insurance programs to mitigate risks and enhance
resilience in the animal husbandry sector.
 Communication Plans and Capacity Building:
 It will also focus on improving communication plans for better outreach,
extension services, and skill development initiatives to enhance capacities in the
animal husbandry sector.
5.11 Federation of Indian Export Organisations (FIEO) Projected India’s
Merchandise to Grow USD 500 to 510 Billion in FY25
 Export Projection for FY25:
 The Federation of Indian Export Organisations (FIEO) forecasts merchandise
exports from India to increase by approximately 14% to reach USD 500-510 billion

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 in FY25.
 Services exports are estimated to reach USD 390-400 billion in the same fiscal
year, resulting in a total export worth of USD 890-910 billion.
 Performance in FY24:
 India's merchandise exports experienced a 3% contraction, amounting to USD 437
billion in FY24.
 Total exports from India in FY24 stood at USD 788 billion.
 Factors Driving Export Growth:
 Traditional markets such as the United States of America (U.S.A.) and Europe,
along with Free Trade Agreements (FTAs) with countries like Australia, United
Arab Emirates (UAE), and European Free Trade Association (EFTA), are expected
to boost India's export sector.
 Key sectors projected to drive positive export growth include machinery,
electrical and electronic, automobile, pharma, and biotechnology, benefiting from
the Production-Linked Incentive (PLI) schemes.
 Challenges Faced:

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  Increased demand for credit due to rising inflation, high commodity prices, and a
significant surge in sea and freight prices.
 Sea freight prices have spiked from USD 700 to USD 3,700, primarily due to
conflicts in the Middle East, necessitating longer voyage times and route
diversions.
 Impact of Global Developments:
 The imposition of new tariffs by the U.S. on Chinese goods like Electronic Vehicles
(EVs) and batteries creates an opportunity for India to fill the supply gap and
explore new markets with lower tariffs.
 Recommendations:
 Establishment of an export development fund by the Government of India (GoI)
to support Micro, Small, and Medium Enterprises (MSMEs) with a budgetary
allocation of 1% of the previous year's exports.
 Introduction of a sub-target for exports within the Priority Sector Lending (PSL)
framework to facilitate achieving the overall export target.
5.12 EPFO created 11.4% more formal jobs in FY24

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 Formal Job Creation Growth:
 Formal job creation under the Employees’ Provident Fund Organisation (EPFO)
rose by 11.4% in 2023-24 (FY24) to 15.4 million compared to 13.85 million in
FY23.
 Provisional Payroll Data for March 2024:
 Provisional payroll data for March 2024 shows 1.44 million net members were
added to EPFO, down from 1.54 million in February 2024.
 In March 2024, 0.74 million new members joined EPFO, with 56.83% in the 18-25
age group, indicating many are first-time job seekers.
 About 1.18 million members exited and rejoined EPFO, choosing to transfer their
accumulations instead of applying for final settlement.
 Gender-wise Analysis:
 Gender-wise, 0.2 million new female members joined, with a net addition of 0.29
million, indicating a shift towards a more inclusive workforce.
 Industry-wise Membership Trends:
 There is increased membership in various industries, including manufacturing,

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 marketing, IT services, restaurants, accounting, fish processing, and beedi making.
 Contribution of Expert Services:
 Expert services such as manpower suppliers, contractors, and security services
accounted for around 43% of net membership additions, indicating the significant
role played by these sectors in job creation.
5.13 Logistics Startup Porter’s becomes India’s 3rd Unicorn in 2024
 Porter Becomes 3rd Unicorn in 2024:
 Bengaluru (Karnataka)-based logistics services platform, Porter, achieved unicorn
status in 2024 with a valuation of around USD 1 billion.
 Path to Unicorn Status:
 Porter attained unicorn status after completing a fresh internal round, where
individuals purchased shares from the employee stock ownership plan (ESOP)
pool at a valuation of USD 1 billion.
 Other Unicorns in 2024:
 Krutrim, an Artificial Intelligence (AI) startup of Ola, and Perfios, a Fintech-
focussed Software as a Service (SaaS) firm, are the other two Indian startups that

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 joined the unicorn club in 2024.
 Definition of a Unicorn:
 A unicorn refers to privately owned startups or companies whose valuation
exceeds USD 1 billion.
 Investment Details:
 During the fresh round, approximately 15-20 individuals invested Rs 25 crore in
Porter.
 Valuation Increase:
 Porter doubled its valuation from USD 500 million, which it commanded during its
2021 fundraise, to reach the USD 1 billion mark during the internal round.
 Investment Background:
 Established in 2014, Porter has raised approximately USD 150 million from
prominent investors such as Tiger Global, Peak XV Partners, Lightrock, and the
Mahindra Group.
5.14 MoWCD Officially Dissolves Food & Nutrition Board
 Ministry of Women and Child Development (MoWCD) Decision:

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 The MoWCD has officially dissolved the Food and Nutrition Board (FNB) as part of
a government rationalisation plan.
 The FNB was a technical support wing of the MoWCD, headquartered in Delhi.
 Originally established under the Ministry of Agriculture and Farmers Welfare, FNB
was transferred to the MoWCD in 1993.
 Background:
 The decision to dissolve the FNB followed a Cabinet meeting on April 6, 2023.
 This decision was based on recommendations from the Principal Economic
Adviser’s report in November 2020.
 The Cabinet approved MoWCD’s proposals for the rationalisation and closure of
the FNB, Rashtriya Mahila Kosh, and the Central Social Welfare Board.
 FNB’s Structure and Network:
 The FNB had 4 regional offices and quality control laboratories located in
Faridabad (Haryana), Mumbai (Maharashtra), Kolkata (West Bengal), and Chennai
(Tamil Nadu).
 It also operated 43 Community Food and Nutrition Extension Units (CFNEUs)

For any feedback and query, kindly mail at [email protected]

 across the country.
 Transfer of Properties:
 CFNEUs in Mumbai, Jaipur (Rajasthan), and Bhubaneswar (Odisha) were
transferred to the Directorate of Estates under the Ministry of Housing and Urban
Affairs (MoHUA).
 Properties in Faridabad, Chennai, Navi Mumbai, and Kolkata are being
transferred.
 The central and regional food testing laboratories in Faridabad and Chennai are
being handed over to the Food Corporation of India (FCI) or the Department of
Food and Public Distribution (DFPB).
 Leased laboratories in Navi Mumbai and West Bengal will be leased to the FCI and
DFPB, pending state clearances.
5.15 MoRTH releases New Driving License Rules w.e.f. June 1, 2024; Makes
Driving Tests at RTO Optional
 New Regulations by Ministry of Road Transport and Highways (MoRTH) for
Driving Licenses (Effective 1st June 2024) .

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 Simplified Application Process:
 Applicants can take their driving tests at privately operated driving training
centres.
 This aims to reduce congestion at Regional Transport Offices (RTOs).
 Prospective drivers can apply for a driver's licence online through the official
website (https://parivahan.gov.in/) or by visiting an RTO in person.
 About the New Regulations:
 Documentation Requirements:
 Required documentation for new DLs is reduced.
 Documents needed are based on the type of vehicle, minimizing physical reviews
at RTOs.
 Penalties for Violations:
 Strict penalties are imposed for violations.
 Efficiency and Safety:
 The new regulations aim to enhance the efficiency of the driving license process.
 They also aim to improve road safety standards across India.

For any feedback and query, kindly mail at [email protected]

 Private Driving School Requirements:
 Land Requirements:
 Training centres must have at least 1 acre of land for light motor vehicle training.
 They must have 2 acres for heavy motor vehicle training.
 Testing Facilities:
 Centres must provide access to appropriate testing facilities.
 Licensing Fee Penalties:
 Driving instruction schools will face a Rs 5,000 fee for issuing or renewing licenses
without training and for getting a duplicate license.
 Trainer Qualifications:
 Trainers need a high school diploma or equivalent.
 They must have at least 5 years of driving experience.
 Trainers should have knowledge of biometrics and IT systems.
 Training Duration:
 Light Motor Vehicles (LMV) :
 29 hours over 4 weeks (8 hours of theory and 21 hours of practical training).

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 Heavy Motor Vehicles (HMV) :
 38 hours over 6 weeks (8 hours of theory and 31 hours of practical training).
 Penalties:
 Minors Driving:
 A fine of Rs 25,000 will be imposed.
 The vehicle owner's registration will be canceled.
 The minor will be ineligible for a license until the age of 25.
 Speeding:
 The fine remains between Rs 1,000 and Rs 2,000.
 Driving Without a Valid License:
 The fine ranges from Rs 1,000 to Rs 2,000.
 Licensing-Related Fees and Charges:
 Learner’s Licence (Form 3): Rs 150
 Learner’s Licence Test (or repeat test): Rs 50
 Driving Test (or repeat test): Rs 300
 Driving Licence Issue: Rs 200

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  International Driving Permit: Rs 1,000
 Addition of Another Vehicle Class to Licence: Rs 500
 Driving Licence Renewal: Rs 200
 Late Renewal: Rs 300 + Rs 1,000 per year or part thereof beyond the grace period
 Appeal Against Licensing Authority Orders: Rs 500
5.16 Tata Communications Partners With Cisco To Launch Webex Calling in India
 Tata Communications and Cisco Systems Launch Webex Calling with Cloud PSTN
in India.
 Partnership Overview:
 Tata Communications Limited, a global communications technology player, has
partnered with Cisco Systems, Inc.
 Together, they have launched Webex Calling with cloud Public Switched
Telephone Network (PSTN) for enterprises in India.
 Key Features of Webex Calling:
 First-of-its-Kind Service: Webex Calling by Tata Communications is the first service
in India to integrate Cisco’s Webex Calling with Tata Communications'

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 GlobalRapide platform.
 Comprehensive Business Phone System: It provides enterprise-grade calling via a
globally available cloud platform.
 Global User Base: Webex Calling is used by over 14 million users worldwide.
 Benefits and Capabilities
 Flexible Deployment Options: Businesses can deploy the system in various
configurations to meet their specific needs.
 Centralized Administration: The service allows for centralized management of
communications across the enterprise.
 AI-Driven Collaboration Tools and Devices: It includes advanced AI-driven tools
for enhancing collaboration and productivity.
 Explanation
 First-of-its-Kind Service: This innovation marks a significant milestone in India’s
communications landscape, offering advanced cloud-based calling solutions.
 Comprehensive Business Phone System: Enterprises gain access to a robust and
reliable phone system designed for modern business needs.

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 Global User Base: The large number of existing users globally underscores the
reliability and effectiveness of Webex Calling.
 Additional Points
 Integration with Tata Communications GlobalRapide Platform: This integration
enhances the service's capabilities by leveraging Tata Communications' extensive
network infrastructure.
 Enterprise-Grade Calling: Ensures high-quality, reliable voice communications for
businesses of all sizes.
 Enhanced Collaboration: AI-driven tools and devices facilitate better teamwork
and productivity within organizations.
 Conclusion
 The partnership between Tata Communications and Cisco Systems brings a
pioneering cloud-based communication solution to Indian enterprises.
 Webex Calling offers flexibility, centralized management, and advanced
collaboration tools, positioning it as a leading choice for modern business
communication needs.

For any feedback and query, kindly mail at [email protected]

5.17 India Develops First Research Testbed Facility to Study Norwesters
 India's First Research Testbed Facility for Norwesters.
 Overview:
 India is set to develop a first-of-its-kind research testbed facility to study
Norwesters, which affect the east and northeast regions of India every summer;
 The facility will enable meteorologists to deploy drones, mobile vans, and high-
end instruments to track Norwesters.
 Development and Collaboration:
 The research testbed will be jointly developed by:
 India Meteorological Department (IMD), New Delhi;
 Indian Institute of Tropical Meteorology (IITM), Pune, Maharashtra;
 National Centre for Medium-Range Weather Forecasting (NCMRWF), Delhi.
 Location and Coverage:
 The facility will cover a large area adjoining West Bengal, Odisha, and Jharkhand;
 The control center will be located at Chandbali in the Bhadrak district of Odisha.
 Purpose and Goals:

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 The facility aims to study thunderstorms from their formation stage, through
growth, to propagation over the eastern parts of India;
 The goal is to enhance the understanding and forecasting of Norwesters.
 Timeline:
 The facility is expected to be completed by 2026, as stated by the Minister of
Earth Sciences.
 Context and Importance:
 Norwesters: These are extremely severe thunderstorms originating over east and
northeast India, south Nepal, Bhutan, and Bangladesh;
 Known as ‘Kalbaisakhi’ in India and ‘Barodoli Cheerha’ in Assam.
 Explanation:
 Norwesters: Understanding these storms is crucial as they have significant
impacts on the region, including severe weather conditions that can affect
agriculture, infrastructure, and daily life;
 Research Testbed: This facility will provide critical data and insights, helping to
improve forecasting and preparedness for these severe weather events.

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  Conclusion:
 The establishment of this research testbed facility represents a significant
advancement in meteorological research and disaster preparedness in India;
 Collaboration between leading meteorological and research institutions will
ensure comprehensive and effective study of Norwesters, ultimately benefiting
the affected regions.
5.18 Kerala Topped Unemployment Rate; Delhi Recorded Lowest for Q4 FY24:
PLFS Survey
 Ministry of Statistics and Programme Implementation (MoSPI) - Periodic Labour
Force Survey (PLFS) Jan-Mar 2024:
 Overview:
 The latest PLFS for the 15-29 age group in urban areas was released for the
January-March 2024 quarter (FY24).
 Key Findings:
 Youth Unemployment Rate:
 Kerala topped with a youth unemployment rate of 31.8% for Q4 FY24.

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 Delhi registered the lowest youth unemployment rate at 3.1% for Q4 FY24.
 The survey covered 22 states and Union Territories (UTs) across India.
 Overall Unemployment Rate (15-29 age group) :
 Increased from 16.5% (Oct-Dec 2023) to 17% (Jan-Mar 2024).
 Slightly lower than the 17.3% recorded for Jan-Mar 2023.
 Overall Unemployment Rate (all age groups) :
 Increased marginally from 6.5% for Q3 FY24 to 6.7% for Q4 FY24.
 Slightly below the 6.8% recorded for Q4 FY23.
 States with High Youth Unemployment (15-29 age group) for Q4 FY24:
 Jammu & Kashmir: 28.2%
 Telangana: 26.1%
 Rajasthan: 24%
 Odisha: 23.3%
 States with Low Youth Unemployment (15-29 age group) for Q4 FY24:
 Delhi: 3.1%
 Gujarat: 9%

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 Karnataka: 11.5%
 Madhya Pradesh (M.P.): 12.1%
 Female Unemployment Rate:
 Highest Female Unemployment Rates:
 Jammu & Kashmir (J&K): 48.6%
 Kerala: 46.6%
 Uttarakhand: 39.4%
 Telangana: 38.4%
 Himachal Pradesh: 35.9%
 Lowest Female Unemployment Rates:
 Delhi: 5.7%
 Gujarat: 10.9%
 M.P.: 13.5%
 Haryana: 13.9%
 Karnataka: 15%
 Overall Female Unemployment:

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 Increased slightly from 22.5% in Q3 FY24 to 22.7% in Q4 FY24.
 Lower than the 22.9% recorded for Q4 FY23.
 Male Unemployment Rate:
 Highest Male Unemployment Rates:
 Kerala: 24.3%
 Bihar: 21.2%
 Odisha: 20.6%
 Rajasthan: 20.6%
 Chhattisgarh: 19.6%
 Lowest Male Unemployment Rates:
 Delhi: 2.5%
 Gujarat: 8.5%
 Karnataka: 10.1%
 Himachal Pradesh: 10.2%
 M.P.: 11.7%
 About Periodic Labour Force Survey (PLFS) :

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 Launched by:
 National Sample Survey Office (NSSO) in 2017.
 Purposes:
 Estimate key employment and unemployment indicators such as Worker
Population Ratio, Labour Force Participation Rate, and Unemployment Rate.
 Provide estimates in a short time interval of 3 months (quarterly) for urban areas
in the Current Weekly Status (CWS).
 Estimate employment and unemployment indicators in both usual Status (ps+ss)
and CWS in both rural and urban areas annually.
 Definitions:
 Labour Force Participation Rate (LFPR) :
 Percentage of persons in the labor force (working, seeking, or available for work)
in the population.
 Current Weekly Status (CWS) :
 Activity status determined based on a reference period of the last 7 days
preceding the date of the survey.

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5.19 MHA Constituted High-Powered Committee to Tackle Increasing
Cybercrimes Originating From SE Asian Region
 Ministry of Home Affairs (MHA) - Inter-Ministerial Committee on Cybercrime:
 Overview:
 The MHA has constituted an inter-ministerial committee to address the increasing
organized cybercrimes originating from South-East (SE) Asian countries such as
Cambodia, Myanmar, and Laos PDR.
 The SE Asian region accounts for 45% of cyber financial frauds taking place in
India.
 About the Committee:
 Chairperson:
 Chaired by VSK Kaumudi, Special Secretary (Internal Security) in the Ministry of
Home Affairs (MHA).
 Members:
 Includes officers from the Reserve Bank of India (RBI), Department of Financial
Services, banks, Financial Intelligence Unit (FIU), Department of

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 Telecommunication (DoT), and financial technology companies.
 Mandate:
 The Indian Cybercrime Coordination Centre (I4C), under the Cyber and
Information Security Division of the MHA, is tasked with tackling increasing
cybercrimes and related attacks in India in a coordinated and comprehensive
manner.
 Key Statistics about Cybercrime in India:
 Mule Accounts:
 Approximately 3.25 lakh "mule" accounts have been frozen over the last 4
months.
 Explanation: Mule accounts are used for laundering cybercrime funds by
exploiting Know Your Customer (KYC) processes.
 Cybercrime Measures:
 Since July 2023, the I4C has removed over 3000 Uniform Resource Locators
(URLs), blocked 595 mobile phone apps, removed 5.3 lakh SIM cards, and 80,848
IMEI (International Mobile Equipment Identity) numbers.

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  Financial Impact:
 Around Rs 7000 crore has been reported lost in cybercrimes over the last few
months.
 Digital Arrest Complaints:
 Approximately 4600 complaints related to digital arrests have been reported
from January-April 2024.
 Explanation: Digital arrest involves impersonation of government officials.
5.20 IndianOil Equips Indian Army with Green Hydrogen Fuel Cell Bus; MoU
Signed to Promote Hydrogen Fuel Cell technology
 Handing Over Ceremony:
 IndianOil handed over a state-of-the-art green hydrogen fuel cell bus to the
Indian Army.
 The event took place at the National War Memorial, India Gate, New Delhi.
 Collaboration:
 Memorandum of Understanding (MoU) :
 IndianOil and the Indian Army signed an MoU to deploy hydrogen fuel cell

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 technology for heavy-duty e-mobility.
 This initiative aims to promote sustainable, eco-friendly transportation solutions.
 Project Objectives:
 Performance Evaluation:
 The project focuses on evaluating the performance of fuel-cell electric buses in
the challenging climatic conditions of the Delhi-National Capital Region (NCR).
 Impact Assessment:
 It assesses the impact of local fuel and air quality on the performance of fuel cell
systems and vehicles.
 Effectiveness and Reliability:
 The project evaluates the effectiveness, longevity, and operational reliability of
fuel cell buses intended for public fleet utilization.
 Significance:
 Sustainable Transportation:
 Promotes the use of green hydrogen fuel cell technology, contributing to eco-
friendly transportation solutions.

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  Innovation in Mobility:
 Pioneers the deployment of advanced hydrogen fuel cell technology for heavy-
duty vehicles.
 Environmental Impact:
 Aims to reduce emissions and improve air quality in the Delhi-NCR region through
the use of clean energy sources.
5.21 Krish and Bhoomi: DD Kisan Launches its First AI Anchors in 50 Languages
 Introduction:
 First Indian Government TV Channel: DD Kisan has become the first Indian
government TV channel to introduce two Artificial Intelligence (AI) Anchors, AI
Krish and AI Bhoomi.
 Launch Date: The AI anchors were launched on DD Kisan’s 9th anniversary, May
26, 2024.
 Features of AI Anchors:
 Language Capabilities: AI Krish and AI Bhoomi can speak in 50 different languages.
 Availability: The AI anchors can read news 24/7 and 365 days without breaks.

For any feedback and query, kindly mail at [email protected]

  Objectives:
 Information Dissemination:
 Provide farmers with information about farming research, market trends,
weather updates, and government programmes.
 Aim to make the channel accessible to farmers in every state across India.
 Channel’s Role in Agriculture:
 Three-Dimensional Agriculture Concept:
 Balanced Farming: Promoting sustainable agricultural practices.
 Animal Husbandry: Providing information related to livestock management.
 Plantation: Offering guidance on plantation and crop management.
5.22 NSDC & ILO Partners to Enhance Skill Development & Lifelong Learning
 Memorandum of Understanding (MoU) :
 Parties Involved: National Skill Development Corporation (NSDC) under the
Ministry of Skill Development and Entrepreneurship (MSDE) and the International
Labour Organization (ILO).
 Objective: Advance skill development and lifelong learning in India and globally.

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 Key Highlights:
 Empowerment and Employability:
 Aim to empower individuals globally by equipping them with essential
competencies and qualifications.
 Enhance employability and promote sustainable economic growth.
 Policy and Governance Development:
 Develop effective policies, governance, and financing structures.
 Enhance skill development at both national and international levels.
 Skill India Digital Hub (SIDH) :
 Governments, workers’ and employers’ organizations in ILO member countries
can use SIDH.
 Digitize systems, processes, skills delivery, and job matching using a cost-effective
model.
 Public-Private Partnerships and Knowledge Exchange:
 Enhance Sector Skill Councils (SSCs) through public-private partnerships.
 Develop micro-credentials and promote Recognition of Prior Learning (RPL) via a

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 global knowledge-sharing platform.
 Flexibility and Inclusivity in Programs:
 Programs designed to be flexible and inclusive.
 Foster adaptability among learners and ensure skills development is relevant and
accessible to all segments of society.
5.23 TCS & IIT-Bombay Partnered to Develop India’s 1st Quantum Diamond
Microchip Imager
 Overview:
 Partnership: Tata Consultancy Services (TCS) and the Indian Institute of
Technology, Bombay (IIT-Bombay) in Mumbai, Maharashtra.
 Project: Development of India’s 1st Quantum Diamond Microchip Imager.
 Objectives and Benefits
 Precision Enhancement: The imager will enhance precision in semiconductor chip
examination.
 Reduction of Chip Failures: Aimed at reducing chip failures to improve reliability.
 Energy Efficiency: Will contribute to improving the energy efficiency of electronic

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 devices.
 Alignment with Government Initiatives
 National Quantum Mission: The project supports the Government of India's
initiative to position India as a leader in global quantum technology.
 Collaboration Details
 Duration: The project will span over the next 2 years.
 Development Site: The quantum imaging platform will be developed in the
PQuest Lab at IIT-Bombay.
5.24 MEA, Meity and CSC eGovernance Signed MoU To Provide eMigrate
Services Through CSC
 Signing Parties:
 Ministry of External Affairs (MEA)
 Ministry of Electronics and Information Technology (MeitY)
 CSC eGovernance Services India Limited (CSC SPV)
 Purpose of the MoU:
 To provide eMigrate services through Common Services Centres (CSCs) in India.

For any feedback and query, kindly mail at [email protected]

 Objectives of the eMigrate Project:
 Assist blue-collar workers going to Emigration Check Required (ECR) countries.
 Address challenges experienced by migrant workers by streamlining the
emigration process online.
 Bring overseas employers, registered recruitment agents, and insurance providers
onto a common platform to promote safe and legal migration.
 MoU Highlights:
 Integration of eMigrate Portal of MEA with CSC’s portal.
 Provision of eMigrate services to citizens through CSCs, including:
 Registration, uploading, and processing of required documents on the eMigrate
portal.
 Booking for medical and other services required by migrant workers.
 Awareness creation about eMigrate services across India.
 About CSC:
 Common Services Centers (CSCs) are a key component of the Digital India
Mission.

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 They serve as front-end service delivery hubs offering digital services to citizens,
especially in rural and remote areas.
 CSCs provide various services including social welfare programs, financial services,
education, skill development, healthcare, agriculture services, and digital literacy.

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 6 . State ESI & Finance Current Affairs

6.1 IAF Conducted ‘Bambi Bucket’ Operation To Combat Forest Fires in Uttarakhand
 IAF Bambi Bucket Operations in Uttarakhand:
 The Indian Air Force (IAF) conducted Bambi Bucket operations in collaboration
with the Uttarakhand government.
 Utilized the Mi-17 V5 helicopter to combat forest fires in Nainital, Uttarakhand.
 Conducted 23 sorties totaling 11 and a half hours.
 Used 44,600 liters of water to combat the blazing fires in the mountains.
 About Bambi Bucket:
 Introduced in 1983 and invented by Canadian Don Arney.
 Revolutionized aerial firefighting by enabling helicopters to transport large
volumes of water beneath the aircraft, offering swift extinguishing of wildfires
from the air.
 Uttarakhand Government's 'Pirul Lao-Paisa Pao' Campaign:
 Launched to combat forest fires and forest devastation.
For any feedback and query, kindly mail at [email protected]
 Inaugurated by the Uttarakhand Chief Minister (CM) Pushkar Singh Dhami in
Rudraprayag district, Uttarakhand.
 Uttarakhand Pollution Control Board designated to oversee the campaign.
 Objectives of the Campaign:
 Locals and youth collect dry pirul (pine tree leaves) from the forest and transport
them to designated collection centers.
 Receive a reward of Rs 50 per kilogram (kg), deposited directly into their bank
accounts.
 Reduces fire risk posed by Pirul in Pine forests and utilizes them for productive
purposes such as electricity generation.
 About Pirul:
 Term used in Uttarakhand to denote pine tree leaves.
 Traditionally used as domestic animal bedding, fertilizer, and fruit packaging.
 Constitutes a serious fire threat in pine forests due to their high burning capacity.
 Collection of these leaves from woodland regions can lessen the risk of fires.
 Electricity Generation from Pirul:

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  Uttarakhand government built a 25-kilowatt (KW) power plant in Uttarkashi
district's Chakori Dhanari village.
 Generates electricity using Pirul as a raw material, contributing to sustainable
energy practices.
6.2 Assam Launched DRIMS For Reporting Damages During Disasters
 Assam Launches Disaster Reporting and Information Management System
(DRIMS) .
 Overview of DRIMS
 Initiative: Launched by the Assam State Disaster Management Authority
(ASDMA).
 Inauguration: Conducted by Ravi Kota, Chief Secretary of Assam, at Assam
Administrative Staff College (AASC), Khanapara in Guwahati, Assam.
 Development: Created in collaboration with the United Nations Children’s Fund
(UNICEF).
 Key Features of DRIMS
 Digital Platform: A state-of-the-art system for accurate disaster reporting and

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 damage assessment.
 Impact Indicators: Captures critical data on damages during disasters, assisting in
relief and rehabilitation efforts.
 Relief and Rehabilitation: Facilitates the provision of grants to impacted
beneficiaries.
 Additional Capabilities
 Tracking Damages: Monitors livestock losses, crop damages, and other types of
damage.
 Speeding Up Repairs: Enhances the efficiency of post-disaster repair work.
6.3UP Rickshaw Driver Arti Won the UK’s Prestigious Royal Award In London
Arti's Achievement and Recognition:
Award Winner:
Arti, an 18-year-old rickshaw driver from Uttar Pradesh, has won the prestigious
Amal Clooney Women’s Empowerment Award at the Prince’s Trust Awards.
 The event celebrates the achievements of young people from around the world
and took place in London, United Kingdom.

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 Meeting with Royalty:
 After winning the award, Arti met King Charles III at Buckingham Palace in
London.
 Award Recognition:
 The award acknowledges her role in inspiring other young girls through her
involvement in the Indian government’s Pink E-rickshaw initiative.
 Named after the famous English Barrister Amal Clooney, the award highlights
significant contributions to women's empowerment.
 Pink E-Rickshaw Initiative:
 Mission Shakti Scheme:
 The Pink E-Rickshaw Initiative is part of the Mission Shakti scheme launched by
the Indian government.
 It aims to empower women by offering pink e-rickshaws with subsidies to female
drivers.
 Empowerment Goals:
 The initiative seeks to increase women's access to income-generating

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 opportunities across India.
 It focuses on providing employment opportunities for underprivileged women,
especially widows and single mothers.
 Impact on Women:
 By improving access to safe transportation, the initiative boosts the mobility and
independence of women.
 It enhances their ability to participate in economic activities and secure
livelihoods.
 Introduction to the Program:
 Arti was introduced to the Pink E-Rickshaw program in July 2023 through Project
Lehar.
 Project Lehar was a collaboration between Prince’s Trust International and the
Aga Khan Foundation (AKF).
 Prince’s Trust International:
 Foundation and Purpose:
 Prince’s Trust International (now King’s Trust International) was founded by King

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 Charles.
 The organization supports young people across 20 countries through programs
focused on employment, education, and enterprise.

For any feedback and query, kindly mail at [email protected]

 7 . Bank & Insurance Current Affairs

7.1 NIPL & Bank of Namibia inks Pact to Develop UPI-like Payment System for
Namibia
 Partnership between NIPL and Bank of Namibia (BoN) :
 NPCI International Payments Limited (NIPL), the overseas arm of the National
Payments Corporation of India (NPCI), signed a pact with the Bank of Namibia
(BoN).
 The pact aims to develop a Unified Payments Interface (UPI)-like instant payment
system for Namibia.
 The objective is to modernize Namibia’s financial ecosystem by leveraging India’s
UPI experience and technology.
 The partnership focuses on improving accessibility, affordability, connectivity with
domestic and international payment networks, and interoperability.
 Objective:
 Enhance digital financial services and facilitate real-time Person-to-Person (P2P)
For any feedback and query, kindly mail at [email protected]
 and person-to-merchant (P2M) payment transactions in Namibia.
 About the Partnership:
 BoN will gain access to technology and insights from NIPL to create a robust
digital platform in Namibia for the digital welfare of its citizens.
 This partnership empowers Namibia with supreme authority in digital payments.
 Benefits include enhanced payment interoperability and improved financial
access for underserved populations.
 Platform Impact:
 Anticipated reduction in cash dependency and promotion of financial inclusion in
Namibia.
 The platform targets rural and informal sectors to provide essential financial
services.
7.2 Mirae AMF Launched Nifty Mid Small-Cap 400 Momentum Quality 100 ETF
 Mirae Asset Nifty MidSmallCap400 Momentum Quality 100 ETF:
 Type: An open-ended scheme replicating/tracking Nifty Midsmallcap400
Momentum Quality 100 total return Index (TRI).

For any feedback and query, kindly mail at [email protected]

 Benchmark Index: Nifty Midsmallcap400 Momentum Quality 100 total return
Index.
 Investment Objective: To generate returns, before expenses, that are
commensurate with the performance of the Nifty Mid Small-Cap 400 Momentum
Quality 100 TRI, subject to tracking error.
 Minimum Investment: Rs 5000 and in multiples of Re. 1 thereafter.
 Fund Managers:
 Managed by Ekta Gala, who has experience with ICICI Prudential Asset
Management Company.
 Managed by Vishal Singh, who has experience with National Stock Exchange (NSE)
Indices Limited.
 They will manage the scheme, investing 95-100% in securities and 0-5% in money
market instruments/debt securities, instruments, and/or units of debt/liquid
schemes of domestic mutual funds.
 Exit Load:
 No exit load will be levied on redemptions made by large investors directly with

For any feedback and query, kindly mail at [email protected]

 the fund house.
 Applicable for investors who made transactions on the exchange.
 Investment Options:
 The scheme does not offer any plan/option for investment.
 Creation Unit Size:
 Creation unit size will be 2 lakh units.
7.3 Infibeam’s CCAvenue Partners with Shivalik SFB to Boost Merchant Access
 Partnership between CCAvenue and Shivalik Small Finance Bank (SFB) :
 Objective: Empower merchants by granting them access to Shivalik SFB’s
extensive customer base.
 Integration: Infibeam integrates Shivalik SFB’s Internet banking service with
CCAvenue’s payment platform.
 Benefits: Account holders of Shivalik SFB can seamlessly make payments on
CCAvenue-powered websites, enhancing their online shopping experience.
 CCAvenue's Milestone:
 CBDC Transactions: CCAvenue was India’s first payment gateway player to

For any feedback and query, kindly mail at [email protected]

 process Central Bank Digital Currency (CBDC) or Digital Rupee transactions for
online retail merchants.
 About Shivalik Small Finance Bank (SFB) :
 Establishment: Founded in 1998.
 First SFB Transition: Shivalik SFB became the first Small Finance Bank (SFB) in
India to transition from an Urban Co-operative bank.
7.4 Canara HSBC Life Insurance Introduces Promise4Growth Plan
 Introduction of Promise4Growth by Canara HSBC Life Insurance:
 Canara HSBC Life Insurance Company Limited introduced Promise4Growth, a new
Unit Linked Insurance Plan (ULIP).
 It is designed for customers embarking on a journey towards financial prosperity
and security.
 About Promise4Growth:
 It offers 3 plan options: Promise4Wealth, Promise4Care, and Promise4Life, each
aligned with different savings goals and life stages.
 Policyholders may avail tax benefits on premium paid and benefits received as

For any feedback and query, kindly mail at [email protected]

 per prevailing tax laws under the Income Tax Act, 1961.
 The plan offers the option to choose from a bouquet of 9 Unit Linked Funds.
 Key Points:
 Promise4Growth provides unparalleled flexibility and a wide range of investment
options.
 This includes a new fund called the "Midcap Momentum Growth Index Fund."
 It offers substantial growth prospects for individuals.
 The plan enables clients to navigate different economic cycles and milestones.
 It offers flexibility to choose from a variety of funds and smoothly switch between
them.
 This allows clients to chart their own course for financial prosperity.
7.5 Setu unveils Sesame, India’s 1st Domain-Specific LLM for BFSI sector
 Introduction of Sesame by Setu and Sarvam Artificial Intelligence:
 Setu, a division of the Pine Labs Group, launched Sesame, India’s first Large
Language Model (LLM) for the Banking, Financial Services, and Insurance (BFSI)
sector.

For any feedback and query, kindly mail at [email protected]

 It is developed in collaboration with Sarvam Artificial Intelligence (AI).
 Launch Event:
 The unveiling occurred at Adbhut India, organized by People+ai.
 Notable figures like Nandan Nilekani, co-founder of Infosys, and Shankar
Maruwada were present at the event.
 Key Features of Sesame:
 Sesame is a domain- and region-specific LLM trained on custom BFSI data.
 Its aim is to enhance credit decision-making and provide hyper-personalized
financial services.
 Utilizes data for various purposes:
 Creditworthiness assessment
 Customer profiling
 Enhancing financial processes such as credit underwriting and fraud detection
 Data and Model Sovereignty:
 Setu and Sarvam AI ensure data and model sovereignty by storing and processing
information locally.

For any feedback and query, kindly mail at [email protected]

7.6 FPSB India Signed MoU with IFSCA to Promote GIFT-IFSC as a “Global Finance
Hub”
 Signing of Memorandum of Understanding (MoU) :
 Financial Planning Standards Board (FPSB) India signed a Memorandum of
Understanding (MoU) with the International Financial Services Centres Authority
(IFSCA).
 The MoU is aimed at promoting the International Financial Services Centre (IFSC)
in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat as a
“Global Finance Hub”.
 Objectives:
 Improve the financial market ecosystem.
 Nurture skilled professionals to cater to the needs of the expanding financial
workforce of GIFT City.
 Key Features of the MoU:
 Talent pipeline support.
 Ecosystem development.

For any feedback and query, kindly mail at [email protected]

  Promotional activities.
 Research collaboration.
7.7 BOI Signed MoU with Indian Coast Guard for “BOI Rakshak Package
 MoU Signing:
 Bank of India (BOI) signed a Memorandum of Understanding (MoU) with the
Indian Coast Guard (ICG).
 The MoU aims to offer a Defence service salary package through the "BOI
Rakshak Salary/Pension Savings Scheme."
 Account Details:
 The minimum balance required for the account is zero or nil.
 BOI Rakshak Salary/Pension Savings Scheme:
 The scheme covers all ranks of ICG, including veterans, recruits, agniveers, and ex-
servicemen.
 Benefits offered under the scheme include:
 Personal Accidental Insurance coverage up to Rs 1.5 crore.
 Air Accidental cover up to Rs 1 crore.

For any feedback and query, kindly mail at [email protected]

 Permanent Total Disability cover up to Rs 50 lakhs.
 Partial Disability cover up to Rs 25 lakhs.
 Additional benefits provided by the bank:
 Concessions in retail loans.
 Reduced processing charges.
 Discounts on locker rentals.
 Eligibility:
 All permanent employees of the defence forces (Indian Army, Indian Air Force,
Indian Navy, Paramilitary Forces, and Coast Guards).
 Permanent employees of central and state police, civil police, home guards, traffic
police, and reserve police of all states.
 Police forces of the union territories, Railway Protection Force, and Government
Railway Police.
 BOI Mobile Omni Neo App:
 The app enhances access to financial solutions for defence personnel, especially
those at borders and remote areas.

For any feedback and query, kindly mail at [email protected]

  About BOI Mobile Omni Neo App:
 Launched by Indian Public Sector Bank (PSB), BOI in September 2023.
 Offers more than 200 services to its customers.
 Key Features of the App:
 24×7 fund transfer capabilities using Immediate Payment Service (IMPS), National
Electronic Fund Transfer (NEFT), and Real-Time Gross Settlement (RTGS).
 Instant transfer of up to Rs 25,000 without adding a beneficiary.
 Ability to open a savings account online.
7.8 HDFC Bank & AIM Empower Social Sector Start-Ups with Rs 19.6 Crore Grants
 HDFC Bank Parivartan Start-up Grants Programme:
 HDFC Bank, India's largest Private Sector Bank (PSB), partners with Atal
Innovation Mission (AIM) under NITI Aayog to support social sector startups with
grants.
 In FY24 (FY 2023-24), 170 social startups received grants worth a total of Rs 19.6
crore through the 7th "HDFC Bank Parivartan Start-up Grants Programme".
 The grants were distributed through 41 incubators.

For any feedback and query, kindly mail at [email protected]

 Key Focus Areas for 2024 Grants:
 Climate Innovation
 Financial Inclusion
 Agriculture and Sustainable Rural Economy
 Accessible and Affordable Healthcare
 Education and Livelihood Enhancement
 Gender Diversity and Inclusion
 Geographic Distribution:
 The startups that received grants are from various states, including Maharashtra,
Uttar Pradesh, Tamil Nadu (TN), Karnataka, Rajasthan, Delhi, and Haryana.
 Over 50% of the 170 startups are from more than 60 tier-II and tier-III cities in
India.
 Incubators Receiving Grants:
 Healthcare Technology Innovation Centre (HITC) at Indian Institute of Technology
(IIT) Madras, TN
 Agriculture & Water Technology Development Hub (AWaDH) at IIT Ropar, Punjab

For any feedback and query, kindly mail at [email protected]

 Technology-Hub (T-Hub), Hyderabad, Telangana
 Foundation for Innovation and Technology - Indian Institute of Technology (FIT-IIT
Delhi)
 Research Innovation and Scientific Entrepreneurship (RISE) Foundation at Indian
Institutes of Science Education and Research (IISER) Kolkata, WB
 Veermata Jijabai Technological Institute (VJTI), Mumbai, Maharashtra
 Forge Forward, Coimbatore, TN
 NTIBF at National Institute of Food Technology Entrepreneurship and
Management (NIFTEM), Kundli, Haryana
 Collaboration with Nodal Agencies:
 High-impact tracks for FY24 were developed in collaboration with:
 Reserve Bank Innovation Hub (RBI–H)
 Ministry of Food Processing Industries (MoFPI)
 National Skill Development Corporation (NSDC)
 Goa Start-up mission
 HDFC Parivartan Start-up Grants Programme Overview:

For any feedback and query, kindly mail at [email protected]

  Launched by HDFC Bank in 2017 as an annual grants programme for social
startups.
 The initiative has supported more than 120 incubators from around 400 startups
across India.
 Aim: To identify startups working towards social impact and support them
through monetary grants to incubators.
7.9 SBI Becomes the 1st Bank as Trading-cum-Clearing Member (TCM) of IIBX
 State Bank of India (SBI) Achievement:
 SBI has become the first bank in India to act as a Trading-cum-Clearing Member
(TCM) at the India International Bullion Exchange IFSC Limited (IIBX).
 IIBX is India’s first International Bullion Exchange located in GIFT City,
Gandhinagar, Gujarat.
 This enables the International Financial Services Centre (IFSC) Banking Unit (IBU)
of SBI to conduct trades on the IIBX platform.
 Background Information:
 In February 2024, the Reserve Bank of India (RBI) permitted branches of Indian

For any feedback and query, kindly mail at [email protected]

 Banks in GIFT IFSC to act as Trading Members (TM) or Trading and Clearing
Members (TCM) of IIBX.
 RBI allowed authorized Indian Banks to act as Special Category Clients (SCCs) to
import Gold or Silver through IIBX.
 About India International Bullion Exchange IFSC Limited (IIBX) :
 Launched on 29th June 2022 by Prime Minister Narendra Modi at GIFT-IFSC in
Gandhinagar, Gujarat.
 IIBX is regulated by the International Financial Services Centres Authority (IFSCA).
 Eligible entities to become members of IIBX include Registered Partnership Firms,
Private Limited Companies, Public Limited Companies, and IBU Branches at GIFT
City, among others.
 Trading and Clearing Member (TCM) :
 TCM membership entitles a member to execute trades on their own account and
solely on behalf of their clients.
 TCM members can clear and settle trades executed by themselves as well as by
other trading members who choose to use their clearing services.

For any feedback and query, kindly mail at [email protected]

  Significance:
 SBI’s role as TCM at IIBX marks a significant milestone in the integration of Indian
banks into the international bullion trading ecosystem.
 The initiative aligns with the broader goals of enhancing India’s participation in
global bullion markets and establishing GIFT City as a key international financial
hub.
7.10 Bajaj Finserv Launches India’s 1st Multi Asset Allocation Fund with Dividend
Yield Strategy
 Introduction:
 Bajaj Finserv Asset Management Limited launched the Bajaj Finserv Multi Asset
Allocation Fund, an open-ended investment scheme.
 It offers investors a unique avenue to access multiple asset classes through a
single investment.
 The fund aims to provide stability and growth by diversifying across asset classes.
 New Fund Offer (NFO) :
 NFO opened on 13th May 2024 and closes on 27th May 2024, available for

For any feedback and query, kindly mail at [email protected]

 subscription until or before 6th June 2024.
 Minimum application amount during NFO is Rs. 500 and in multiples of Re. 1.
 Investment Objectives:
 To generate income from fixed income instruments and capital appreciation by
investing in equity, equity-related securities, Gold and Silver Exchange Traded
Funds (ETFs), exchange traded commodity derivatives, Real Estate Investment
Trusts (REITs), and Infrastructure Investment Trusts (InvITs).
 Note: There is no assurance that the investment objective of the scheme will be
achieved.
 Key Features:
 Benchmark: 65% Nifty 50 Total Returns Index (TRI) + 25% NIFTY Short Duration
Debt Index + 10% Domestic Prices of Gold.
 Fund Manager: Nimesh Chandan and Sorbh Gupta (equity investments), Nimesh
Chandan and Siddharth Chaudhary (debt investments), and Vinay Bafna
(commodities investments).
 Investment Strategy:

For any feedback and query, kindly mail at [email protected]

  Focus on high dividend-yield companies for compounding growth through
dividend reinvestment.
 Asset allocation ranges: 35% to 80% in equity, 10% to 55% in fixed-income
instruments, 10% to 55% in commodities, and 0% to 10% in REITs/InvITs.
 Embraces a multi-theme, multi-sector approach with a multi-cap orientation.
 Prioritizes quality portfolio and a safety-first approach.
 Adjusts fixed-income allocations based on macroeconomic factors, valuation
metrics, and investor behavior.
 Exit Load Structure:
 For each purchase of units through Lumpsum / switch-in / Systematic Investment
Plan (SIP) and Systematic Transfer Plan (STP) :
 Within 1 Year: No exit load on up to 30% of units redeemed/switched; 1% of Net
Asset Value (NAV) for redemption / switch-out of units over 30%.
 After 1 Year: No exit load on units redeemed/switched from another scheme
after 1 year.
7.11 HDFC Bank Launched PIXEL – India’s First Virtual Credit Card

For any feedback and query, kindly mail at [email protected]

 Launch:
 HDFC Bank Limited has launched PIXEL, India's first virtual credit card.
 PIXEL allows users to design their cards with personalized benefits and offers.
 Available in two variants: PIXEL Play and PIXEL Go.
 Currently on the Visa Network.
 This marks HDFC Bank’s debut in the end-to-end mobile app-based customizable
credit card range.
 Key Points
 Digital-First Card:
 The PIXEL card is a digital-first credit card offering flexibility and customization.
 Customers can register for the PIXEL cards on the PayZapp, the mobile application
of HDFC Bank.
 App Features:
 The PayZapp app provides features like card controls, rewards, EMI dashboard,
notifications, statements, repayments, disputes, hotlisting, and recent
transactions.

For any feedback and query, kindly mail at [email protected]

 Technology Provider:
 Zeta, a Mumbai-based banking tech company, is the technology provider for
PIXEL.
 Key Features
 Credit-Free Period:
 Both variants of PIXEL offer up to 50 days of a credit-free period.
 Cashback Options:
 Users can customize the choice of online platforms to earn 3% cashback on
Amazon, Flipkart, PayZapp, and unlimited, and 1% cashback on other spends.
 About PIXEL Play
 Target Users:
 PIXEL Play targets users who want the benefits of digital customization and credit
card.
 Customization:
 Enables users to select merchants to earn accelerated cashback, choose card
color, and set the billing date.

For any feedback and query, kindly mail at [email protected]

  About PIXEL Go
 Target Users:
 PIXEL Go targets new users entering the world of credit cards and building their
credit scores.
 Payment Flexibility:
 Offers the flexibility of payments through pay-in-parts.
7.12 TATA AIG General Insurance unveils India’s 1st Satellite In-Orbit Third-Party
Liability Insurance policy
 Launch:
 TATA AIG General Insurance Company Limited has introduced India’s first
‘Satellite In-Orbit Third-Party Liability Insurance’ policy.
 This policy provides financial protection to satellite manufacturers and operators
in the Indian space sector.
 TATA AIG becomes the first private insurer in India to offer a satellite insurance
cover.
 Background

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 Third-Party Liability Insurance:
 Essential for private enterprises in the satellite industry.
 Covers potential legal claims from third-party bodily injury and property damage
involving satellites in orbit.
 FDI in Space Sector:
 In April 2024, the Indian government amended the Foreign Exchange
Management (Non-Debt Instruments) Rules 2019 to permit 100% FDI in the space
sector.
 About Satellite In-Orbit Third-Party Liability Insurance
 Coverage:
 Offers comprehensive coverage for third-party bodily injury and property
damage.
 Adheres to international standards and best practices.
 Protection:
 Protects satellite owners from legal claims arising from incidents involving their
satellites in orbit.

For any feedback and query, kindly mail at [email protected]

 Addresses risks from potential hazards like solar storms.
 Focus:
 Specifically caters to the needs of satellite manufacturers and operators in the
Indian Space Sector.
 In-Orbit Covers vs. Launch Covers
 In-Orbit Covers:
 Focus on the operational phase of the satellite once it is in orbit.
 Provide coverage for incidents involving the satellite while it is orbiting.
 Launch Covers:
 Concerned with the success or failure of the launch vehicle.
 Do not cover the satellite's operations once it is in orbit.
 Additional Information
 Market Growth:
 India aims to increase its global launch market share fivefold.
 Projected to reach USD 47.3 billion by 2032 due to the privatization of space
launches.

For any feedback and query, kindly mail at [email protected]

7.13 SBI General Insurance Introduced ‘Bima Central’ Platform to Transform
Customer Experience with Innovation
 Launch: State Bank of India (SBI) General Insurance Company Limited launched
Bima Central, India’s first insurance portfolio management platform.
 Collaboration: Developed in collaboration with CAMS Insurance Repository
Services Limited (CAMSRep).
 Key Points about Bima Central Platform
 e-Insurance Account (eIA) :
 Allows customers to aggregate their insurance portfolio through an electronic-
Insurance Account (eIA).
 Policyholders can manage their insurance policies and access their portfolio
through the SBI General Insurance mobile app and the Bima Central app.
 Management Features:
 Enables users to add beneficiaries, nominees, and family members.
 Offers eIA policyholders a single window, integrated access to their aggregated
insurance benefits.

For any feedback and query, kindly mail at [email protected]

  Compliance
 Electronic Format Requirement:
 It is mandatory for policyholders to hold new insurance policies in electronic
format (e-Policy) in eIA since April 2024.
7.14 TATA AIG Partnered with Aurm To Offer Safe Vaults For Insurance Coverage
 Partnership: Tata AIG General Insurance Company Limited has partnered with
Aurm, a Bengaluru-based asset protection firm.
 Purpose: To provide insurance coverage for Aurm customers' valuables.
 Insurance Coverage
 Coverage Limit: Aurm’s vaults would have complete insurance coverage up to Rs
25 lakh.
 Protection: The collaboration combines Aurm’s security infrastructure and
technology with Tata AIG’s insurance coverage, ensuring safe vault owners have
peace of mind in protecting their high-value possessions.
 Aurm's Services
 State-of-the-Art Storage: Aurm partners with banks and real estate firms to

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 provide advanced safe deposit storage facilities.
 Availability: These facilities are fully automated and available 24 hours a day, 365
days a year.
7.15 MSCI Announced Changes in MSCI Global Standard Index: 13 Indian Firms
Added & 3 Removed
 Changes to MSCI India Index
 Additions: 13 securities will be added to the MSCI India Index.
 Bosch Limited
 Canara Bank
 Indus Towers Limited
 Jindal Stainless Limited
 JSW Energy Limited
 Mankind Pharma
 NHPC Limited
 PB Fintech Limited
 Phoenix Mills Limited

For any feedback and query, kindly mail at [email protected]

 Solar Industries India Limited
 Sundaram Finance Limited
 Thermax Limited
 Torrent Power Limited
 Deletions: 3 securities will be removed from the MSCI India Index.
 Berger Paints India Limited
 Indraprastha Gas Limited (IGL)
 Paytm (One97 Communications Limited)
 Net Stock Count: Following these changes, the total number of stocks in the MSCI
India Index will be 146.
 MSCI Global Standard Indexes
 Overall Changes:
 42 securities will be added globally.
 121 securities will be deleted globally.
 Emerging Markets Index:
 Largest Additions:

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 Chandra Asri Pacific (Indonesia)
 JSW Energy (India)
 Canara Bank (India)
 MSCI Global Small Cap Indexes
 Changes:
 233 securities will be added.
 293 securities will be deleted.
 India-specific Changes:
 29 securities added.
 15 securities removed.
 Net inclusion of 14 stocks brings India's total to 497 in the MSCI Global Small Cap
Index.
 MSCI Equity Indexes May 2024 Review
 Global Investable Market Indexes:
 187 securities added.
 326 securities deleted.

For any feedback and query, kindly mail at [email protected]

 Global All Cap Indexes:
 113 securities added.
 83 securities deleted.
 Frontier Markets Index:
 9 additions.
 5 deletions.
 Impact on India
 FII Passive Flows: With the additions to the MSCI Global Standard/Emerging
Market (EM) Index, India is expected to see a net inflow of over USD 2.5 billion.
 MSCI EM Index Weight:
 India's weight will increase from 18.3% to approximately 19%.
 This is the highest increase in basis points among all emerging markets in this
review.
 China remains the highest with a weight of 25.7% and 703 members.
 Changes in Weights of Specific Companies
 Increased Weights:

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  YES Bank
 Zomato
 Vedanta
 AU Small Finance Bank
 Macrotech Developers
 Polycab India
 Samvardhana Motherson
 Suzlon Energy
 Decreased Weights:
 Dabur
 ICICI Lombard
 Jubilant Foodworks
 PI Industries
7.16 SBI Mutual Fund Launches SBI Automotive Opportunities Fund
 Fund Launch Details
 Launch Date: The new fund offer (NFO) opened for subscription on 17th May
For any feedback and query, kindly mail at [email protected]
 2024 and will close on 31st May 2024.
 Fund Type: It is an open-ended equity scheme following the automotive and
allied business activities theme.
 Investment Objective
 Goal: To generate long-term capital appreciation for unit holders.
 Benchmark and Management
 Benchmark: The fund will be benchmarked against the Nifty Auto Total Return
Index (TRI).
 Fund Managers: The scheme will be managed by Tanmaya Desai and Pradeep
Kesavan.
 Plans Available
 Regular Plan: For investors who wish to route their investment through any
distributor.
 Direct Plan: For investors who purchase/subscribe to units in the scheme directly
with the Mutual Fund or through a Registered Investment Advisor (RIA).
 Investment Strategy

For any feedback and query, kindly mail at [email protected]

 Equity Investments: The fund will invest 80%-100% of the net assets in equity and
equity-related instruments of automotive and allied businesses.
 Other Investments:
 0%-20% in equity and equity-related instruments of other companies and in debt
and debt-related instruments and money market instruments including tri-party
repos.
 0%-10% in units issued by Real Estate Investment Trusts (REITs) and Infrastructure
Investment Trust (InvITs).
 Investment Solutions
 Systematic Investment Solutions:
 Systematic Investment Plan (SIP).
 Systematic Withdrawal Plan (SWP).
 Minimum Application:
 Lumpsum: Rs 5,000.
 SIP: Rs 500, with a minimum of 12 installments.
 Exit Load Structure

For any feedback and query, kindly mail at [email protected]

  Entry Load: There is no entry load.
 Exit Load:
 1% if units are redeemed within one year from the allotment.
 Nil after one year.
 Key Points
 Unique Offering: This is the first active mutual fund in India specifically targeting
the automotive and allied business sector.
 Domestic and International: The fund will invest in stocks of both domestic and
international automobile companies and allied businesses.
 Flexible Investment Options: The fund offers flexible investment solutions
through SIP and SWP, catering to different investor needs.
7.17 Yes Bank launches YES Grandeur for India’s Emerging Affluent Segment
 Overview of YES Grandeur
 Target Segment: Aimed at India’s emerging affluent segment.
 Requirements:
 Average Monthly Balance (AMB) of Rs 5 lakh.

For any feedback and query, kindly mail at [email protected]

  Net Relationship Value (NRV) of Rs 20 lakh.
 Key Features of YES Grandeur Debit Card
 Travel Benefits:
 Zero cross-currency markup charges.
 Airport lounge access.
 Program Benefits
 Dedicated Relationship Managers: Personalized service for account holders.
 Preferential Rates and Fee Exemptions: Special rates and fee waivers for account-
related services.
 Special 3-in-1 Account: Combines demat, trading, and savings accounts for
comprehensive financial management.
 Additional Information
 Indian Middle Class Growth: According to People Research on India’s Consumer
Economy (PRICE) ICE 360° surveys, the Indian middle class is projected to nearly
double to 61% by 2046-47.
7.18 Bank of Maharashtra tops among PSU banks in Business Growth in FY24; SBI

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 FY24 net profit rises 21.59%
 Bank of Maharashtra (BoM) Performance in FY24
 Top Performer: BoM emerged as the top performer among Public Sector Banks
(PSBs) in business growth.
 Business Growth: Recorded a 15.94% rise in total business (domestic) in FY24.
 SBI Performance: SBI followed with a 13.12% growth rate in total business.
 Total Business Comparison
 BoM Total Business: Rs 4,74,411 crore.
 SBI Total Business: Rs 79,52,784 crore, about 16.7 times higher than BoM.
 Deposit Mobilization
 BoM Growth: Achieved a 15.66% rise in deposit mobilization.
 Other PSBs:
 SBI: 11.07% growth.
 Bank of India: 11.05% growth.
 Canara Bank: 10.98% growth.
 Double-Digit Growth: Only BoM, SBI, Bank of India, and Canara Bank achieved

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 double-digit deposit growth in FY24.
 CASA Deposits
 BoM Performance: Achieved a 52.73% growth rate in low-cost CASA deposits.
 Central Bank of India: Followed with a 50.02% rise in CASA deposits by March
2024.
 Loan Growth
 UCO Bank: Led with a 16.38% increase in loan growth.
 BoM: Followed closely with a 16.30% increase.
 SBI: Recorded a 16.26% increase.
 Other PSBs: Reported loan growth rates below 16% in FY24.
 Asset Quality
 Gross NPAs:
 BoM: 1.88%.
 SBI: 2.24%.
 Net NPAs:
 BoM: 0.2%.

For any feedback and query, kindly mail at [email protected]

 Indian Bank: 0.43%.
 Capital Adequacy Ratio (CAR) .
 BoM: Leading with a CAR of 17.38% by the end of FY24.
 Indian Overseas Bank: 17.28%.
 Punjab & Sind Bank: 17.16%.
 SBI Financial Performance in FY24
 Q4FY24 Results:
 Net Profit: Rs 20,698.35 crore, up 24% from Q4FY23.
 Annual Net Profit: Rs 61,077 crore, up 21.59% YoY.
 Considerations: Accounted for a wage settlement and a one-time exceptional
item of Rs 7,100 crore.
 Net Interest Income (NII): Rose by 3.1% YoY to Rs 41,656 crore.
 Asset Quality:
 Gross NPA: Decreased by 2.9% QoQ.
 Net NPA: Decreased by 6.1% QoQ.
 Operating Profit: Surged by 16.7% YoY to Rs 28,747 crore for the March quarter

For any feedback and query, kindly mail at [email protected]

 and grew by 12.05% for the fiscal year.
7.19 SIDBI & Airbus Helicopters Signed MoU for Helicopter Financing in India
 Parties Involved and MoU Purpose:
 The Small Industries Development Bank of India (SIDBI) signed a Memorandum of
Understanding (MoU) with Airbus Helicopters.
 The MoU aims to facilitate financing for the purchase of Airbus helicopters in
India.
 Significance:
 The MoU is expected to stimulate growth in the helicopter market, particularly in
sectors like health, infrastructure, and tourism.
 It provides SIDBI with an opportunity to expand its financing capabilities in the
rotary wing sector, meeting the development needs of India's growing helicopter
industry.
 Key Points of the MoU:
 Facilitating Identification of Potential Operators:
 The MoU enables both Airbus Helicopters and SIDBI to identify potential civil

For any feedback and query, kindly mail at [email protected]

 helicopter operators in India seeking financing solutions for helicopter purchases.
 Knowledge Transfer:
 Airbus Helicopters will provide technical and industry-related knowledge to SIDBI
under the MoU.
 Exclusive Financing:
 SIDBI will evaluate the identified prospects and provide financing exclusively for
the purchase of Airbus helicopters.
7.20 TReDS Platform RXIL Crosses Rs 1 lakh crore in MSME Invoice Financing
 Achievements of RXIL:
 India’s 1st Trade Receivables electronic Discounting System (TReDS) exchange
platform, Receivables Exchange of India Limited (RXIL), has financed over 50 lakh
Micro, Small, and Medium Enterprises (MSME) invoices totaling Rs 1 lakh crore.
 RXIL boasts over 25,000 registered MSMEs and has established strategic
partnerships with state governments to ensure timely and competitive payments.
 It offers working capital solutions for MSMEs through invoice financing,
facilitating their financial needs.

For any feedback and query, kindly mail at [email protected]

  Background and Ownership:
 RXIL is a joint venture (JV) promoted by the Small Industries Development Bank of
India (SIDBI), NSE India (National Stock Exchange of India Ltd), State Bank of India
(SBI), ICICI Bank, and YES Bank Limited.
 It was the first entity to receive the Reserve Bank of India (RBI)’s approval to
launch the TReDS Exchange Platform in 2016.
 Financial Performance and Goals:
 In FY24, RXIL’s monthly invoice financing volumes exceeded Rs 6,000 crore.
 The platform aims to finance Rs 75,000 crore worth of invoices in FY25,
demonstrating its continued growth and impact in providing working capital
solutions for MSMEs.
7.21 SBI General Insurance Signed Bancassurance Partnership With JSFB To
Increase Insurance Penetration
 Partnership Agreement:
 SBI General Insurance Company Limited has entered a strategic Bancassurance
Partnership agreement with Jana Small Finance Bank (JSFB).

For any feedback and query, kindly mail at [email protected]

 Customer Access:
 Jana Small Finance Bank customers will gain access to a wide range of general
insurance products from SBI General Insurance.
 Insurance Products:
 The products offered will encompass various insurance options including health,
personal injury, home, motor, and travel insurance.
 Additionally, commercial line insurance products such as property, marine, and
engineering insurance will be available to cater to the needs of businesses and
enterprises.
 Market Position Enhancement:
 SBI General Insurance aims to bolster its market position by leveraging Jana Small
Finance Bank’s extensive customer base, utilizing its branch networks across 24
states and Union Territories (UT).
 Bancassurance Definition:
 Bancassurance refers to an arrangement between a bank and an insurance
company, enabling the insurance company to sell its products to the bank’s client

For any feedback and query, kindly mail at [email protected]

 base.
 Benefits of Bancassurance:
 This partnership arrangement can be mutually beneficial for both the bank and
the insurance company, offering additional revenue streams and expanding
customer reach.
7.22 Thomas Cook India Introduced TCPay For International Money Transfers
 Introduction of TCPay:
 Mumbai(Maharashtra) based Thomas Cook (India) Limited (TCIL) has launched
'TCPay', a new digital service aimed at simplifying international money transfers.
 Features of TCPay:
 TCPay offers 24x7 access and paperless transfers through a user-friendly digital
interface.
 It is integrated across Thomas Cook’s digital platforms like FXNOW (B2C app),
Portal, and Call Center for customer assistance.
 Integration with Video KYC Process:
 TCPay is coupled with Thomas Cook’s Video Know Your Customer (KYC) process,

For any feedback and query, kindly mail at [email protected]

 enabling customers to complete transfers without paperwork.
 Smooth Outward Remittances:
 The implementation of TCPay ensures smooth and seamless outward remittances
for both individuals and businesses.
7.23 NIMF Launches Industry First Sonic Identity: ‘The Sound of Freedom’
 Nippon Life India Asset Management Limited (NAM India) Announcement:
 NAM India, the asset manager of Nippon India Mutual Fund (NIMF), has launched
the sonic identity 'The Sound of Freedom,' symbolizing financial freedom.
 This marks NIMF as the first asset management company (AMC) in India to
introduce its own brand sound.
 The initiative reflects NIMF's dedication to innovation and fostering stronger
connections with investors.
 New Musical Logo - 'MOGOSCAPE':
 The new musical logo of NIMF, named 'MOGOSCAPE,' encapsulates the core
values, emotions, and persona of the organization.
 About NAM India:

For any feedback and query, kindly mail at [email protected]

  NAM India is one of the largest asset managers in India, managing assets across
mutual funds, including Exchange Traded Funds (ETFs), and offering portfolio
management services and alternative investments funds.
 The company is headquartered in Mumbai, India.
7.24 BSE: Market Capitalisation to GDP Ratio Records 15-year High of 140.2%
 Market Capitalization to GDP Ratio:
 Growth Record:
 India’s market capitalization to GDP ratio (mcap-to-GDP) reached a 15-year high
of 140.2%.
 This is a significant increase from 95.8% at the end of March 2023.
 Contributing Factors:
 The growth is due to a 61% increase in the market capitalization of all companies
traded on the BSE since March 2023.
 India’s GDP at current prices is estimated to have grown by 10% in FY24 (2023-
24).
 Historical Context:

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 The previous all-time high for the mcap-to-GDP ratio was 149.4% at the end of
December 2007.
 In December 2007, the combined market capitalization of BSE-listed companies
was Rs 71.7 trillion compared to India’s GDP of Rs 48 trillion.
 Current Market Statistics:
 Market Capitalization:
 On May 21, 2024, the total market capitalization of the 4,357 companies traded
on the BSE reached Rs 414.46 trillion (USD 5 trillion).
 India’s GDP at current prices for FY24 is Rs 296.6 trillion.
 Recent Milestones:
 The total market capitalization of BSE-listed companies reached USD 4 trillion in
November 2023.
 Within six months, this figure surpassed USD 5 trillion.
 Historical milestones include:
 USD 1 trillion in May 2007.
 USD 2 trillion in July 2017.

For any feedback and query, kindly mail at [email protected]

 USD 3 trillion in May 2021.
 Performance of Major Indices:
 Sensex Performance:
 The total market capitalization of India’s top 30 listed companies in the S&P BSE
Sensex increased by 27.2% at the end of March 2023.
 Combined market capitalization of Sensex companies rose from Rs 115.9 trillion
at the end of March 2023 to Rs 147.4 trillion on May 21, 2024.
 Nifty50 Performance:
 The combined market capitalization of National Stock Exchange Nifty50 increased
by 33.2%, from Rs 136.5 trillion at the end of March 2023 to Rs 181.8 trillion on
May 21, 2024.
 MidCap and SmallCap Performance:
 The S&P BSE MidCap index increased by 64% in 2023.
 The S&P BSE SmallCap index rose by 60.6% in 2023.
 The sharp rally in small and midcaps is attributed to a significant increase in new
retail investors entering the equity market.

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7.25 NSE Lowered Tick Size to 1 Paisa for Stock Price Below Rs 250
 Announcement:
 The National Stock Exchange of India Limited (NSE) has lowered the tick size for
all stocks priced below Rs 250 in the cash segment from 5 paisa to 1 paisa.
 This change aims to enhance liquidity and improve price discovery by allowing
more granular price adjustments.
 The new tick size will be effective from 10th June 2024.
 Key Points:
 Applicability:
 The new tick size applies to all securities except Exchange Traded Funds (ETFs),
including the EQ, BE, BZ, BO, RL, and AF series.
 Settlement Securities:
 The tick size for T+1 settlement securities will also be applicable to T+0 (T0)
settlement securities.
 Price-Related Computations:
 All price-related computations, such as closing price, base price, common

For any feedback and query, kindly mail at [email protected]

 equilibrium price, and settlement price, will be framed according to the
applicable tick size of the security.
 Monthly Adjustment:
 The NSE will examine and adjust the tick size of each security on a monthly basis
based on the closing prices of the last trading day of each month to determine
the applicable tick size for the following month.
 About Tick Size:
 Definition:
 Tick size is the minimum price increment between two consecutive bid (Buy) and
offer (Sell) prices.
 For example, if a stock has a tick size of Rs 0.10 (10 paisa) and the Last Traded
Price (LTP) was Rs 200, the next possible bid prices would be Rs 199.90, 199.80,
199.70, 199.60, and so on. In this case, the bid price cannot be Rs 199.86 as it
does not meet the tick size requirement of Rs 0.10.
 Competitive Context:
 Comparison with BSE:

For any feedback and query, kindly mail at [email protected]

  The new tick size of NSE is more competitive with the Bombay Stock Exchange
(BSE), which implemented the same 1 paisa tick size for stocks below Rs 100 in
March 2023.
7.26 Government Set to Launch New National Portal “NHCX” to Simplify Health
Insurance Claims
 Ministry of Health and Family Welfare (MoHFW) to Launch National Health Claim
Exchange (NHCX) :
 Overview:
 Purpose: Simplify the process of filing health insurance claims, foster
transparency, and ensure interoperability of health insurance claims to enhance
sector efficiency.
 Launch Timeline: Expected within the next 2-3 months.
 Development and Integration:
 Developed By: National Health Authority (NHA) as part of the Ayushman Bharat
Digital Mission (ABDM).
 Ayushman Bharat Health Accounts (ABHA) : Reached 62.12 crore accounts as of

For any feedback and query, kindly mail at [email protected]

 May 24, 2024.
 Functionality:
 Single-Window Platform: Connects health insurance companies, hospitals, and
insurance policyholders for easier and faster claim settlements.
 Integration:
 Insurance Regulatory and Development Authority of India (IRDAI) has advised all
insurers and service providers to integrate with the NHCX platform.
 The government aims to integrate around 50 health insurance companies and
200-250 hospitals across the country.
 Additional Information:
 Electronic Insurance Policies:
 Following IRDAI's mandate for issuing all insurance policies in electronic form
from April 1, all individual insurance plans are consolidated in an e-Insurance
Account (eIA).
 NHCX represents the next significant reform in the insurance industry.
 Bima Sugam:

For any feedback and query, kindly mail at [email protected]

  IRDAI has approved Bima Sugam, an online marketplace for insurance.
 It helps policyholders compare premiums and features of all categories of
insurance products.
7.27 Bank of Maharashtra Introduces Maha Krishi Samrudhi Yojana to Offer
Financial Support for Food & Agro-Based Industries
 Introduction of Maha Krishi Samrudhi Yojana (MKSY) by Bank of Maharashtra
(BoM) :
 MKSY aims to provide financial assistance to Food and Agro-Based industries and
Agri infrastructure projects, including startups involved in processing activities
and agricultural infrastructure development.
 Eligibility Criteria:
 Individuals, proprietorships, partnership concerns, Farmer Producer Companies
(FPCs), private limited companies, public limited companies, and Limited Liability
Partnership (LLP) concerns are eligible for assistance under MKSY.
 MKSY extends to both new and existing food and agro processing units under the
"Agriculture" category.

For any feedback and query, kindly mail at [email protected]

 Features of MKSY:
 Provides finance for new/expansion of existing units, including
acquisition/construction of land, building, plant, and machinery based on project
cost.
 Facilities include term loans, working capital/Export credit, Letters of Credit (LCs),
and Bank Guarantees (BGs) with a maximum loan limit of up to Rs. 100 Crore (no
limit on minimum amount).
 Repayment period for term loans is up to 10 years, while working capital loans
are repayable on demand.
 Adopts a cluster-based approach, aligning with the One District One Product
(ODOP) initiative of the Ministry of Food Processing Industries (MoFPI).
 Aligns with the directions of the Department of Agriculture and Farmers Welfare
(DA&FW), Ministry of Agriculture & Farmers’ Welfare(MoAF&W).
 Margin & Rating Support:
 Offers low-margin financing for term loans (minimum 10 to 25%) and working
capital limits (Stocks and Book Debt, minimum 25%).

For any feedback and query, kindly mail at [email protected]

 Mandates Internal Credit Rating for accounts with aggregate exposure above Rs.
25.00 lakhs, and External Credit rating for accounts with aggregate exposures
above Rs. 25.00 crores, with a minimum credit risk rating of "BBB".

For any feedback and query, kindly mail at [email protected]

 8 . One liner Current Affairs

8.1 2024 Pulitzer Prizes in Journalism, Books, Drama and Music: ProPublica won
Prize under Public Service
 Pulitzer Prize Winners (2024) :
 The Pulitzer Board announced the winners of the 108th Pulitzer Prize across
categories including Journalism, Books, Drama, Music, and Special Citations.
 The Pulitzer Prize is the highest national honor in the United States of America
(USA) in the fields of journalism, literature, and music composition.
 Journalism Category:
 Public Service Category:
 ProPublica won the 2024 Pulitzer Prize in Journalism for Public Service.
 Journalists Joshua Kaplan, Justin Elliott, Brett Murphy, Alex Mierjeski, and Kirsten
Berg were recognized for their groundbreaking report revealing attempts by
politically influential billionaires to influence Supreme Court justices with lavish
gifts. This led to the adoption of the court's first code of conduct.
For any feedback and query, kindly mail at [email protected]
 Investigative Reporting Category:
 Hannah Dreier of The New York Times won the 2024 Pulitzer Prize in Journalism
for Investigative Reporting.
 She was awarded for her series of stories focusing on the lives of migrant child
laborers across the USA.
 Editorial Writing Category:
 David E. Hoffman of The Washington Post won the 2024 Pulitzer Prize in
Journalism for Editorial Writing.
 He was recognized for a research series focusing on how authoritarian regimes
use new technologies to suppress dissenting voices.
 Breaking News Photography Category:
 The Photography Staff of Reuters won the 2024 Pulitzer Prize in Journalism for
Breaking News Photography.
 The Photography Staff of The Associated Press won the 2024 Pulitzer Prize in
Journalism for Feature Photography.
 Special Citations:

For any feedback and query, kindly mail at [email protected]

  A special citation was awarded to the late writer and critic Greg Tate for his
notable works including "Flyboy in the Buttermilk: Essays on Contemporary
America" and "The Black Experience."
 The Pulitzer Board also gave a Special Citation Award to journalists and media
workers covering the war in Gaza.
8.2 ACI Asia-Pacific & Middle East GAR Awards 2024; 3 Indian Airports Bagged
‘Silver’ Award
 Recognition of Indian Airports:
 Indira Gandhi International Airport (New Delhi, Delhi) :
 Awarded under the ‘Over 35 million passengers per annum’ category.
 Recognized with a Silver category award for its environmental and sustainability
initiatives.
 Kempegowda International Airport (KIA) (Bengaluru, Karnataka) :
 Awarded under the ‘Between 15-35 million passengers per annum’ category.
 Received a Silver category award for its green airport practices and efforts.
 Chaudhary Charan Singh International Airport (Lucknow, Uttar Pradesh) :

For any feedback and query, kindly mail at [email protected]

 Awarded under the ‘Less than 8 million passengers per annum’ category.
 Honored with a Silver category award for its commitment to environmental
sustainability.
 Context and Importance:
 ACI Asia-Pacific and Middle East:
 An organization representing airports in the Asia-Pacific and Middle East regions.
 Annually recognizes airports that demonstrate outstanding achievements in
environmental sustainability.
 Green Airports Recognition (GAR) Awards:
 The awards aim to promote environmental best practices and recognize airports
that have made significant progress in reducing their environmental impact.
 Categories are based on the annual passenger traffic of the airports to ensure fair
comparison and recognition.
 Explanation of Categories:
 ‘Over 35 Million Passengers Per Annum’ Category:
 Airports with very high passenger traffic, requiring large-scale sustainability

For any feedback and query, kindly mail at [email protected]

 measures.
 ‘Between 15-35 Million Passengers Per Annum’ Category:
 Medium to large airports with significant passenger traffic, implementing
effective green practices.
 ‘Less than 8 Million Passengers Per Annum’ Category:
 Smaller airports focusing on innovative and impactful environmental initiatives.
8.3 Adani’s Vizhinjam Port in Kerala Approved as India’s 1st Transshipment Port

8.4 India Economy to Grow Faster than 7% in FY25: National Council of Applied
Economic Research (NCAER)

8.5 35th Goldman Environmental Prize: Chhattisgarh Bachao Andolan Leader Alok
Shukla bags it

8.6 Indian-origin teacher Gina Justus Receives 2024 Cambridge Dedicated Teacher

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 Award for Middle East and North Africa (MENA) region.

8.7 Aligarh Muslim University (AMU) Professor Mohammad Rihan Took Charge as
Director General of National Institute of Solar Energy (NISE).

8.8 Hitesh Sethia Appointed as MD and CEO of Jio Financial Services Limited for 3
Years

8.9 Yes Bank & ANQ Finance Partnered to Launch Pi and Phi Co-branded Credit
Cards

8.10 Neobank Fi Secures NBFC Licence from RBI

8.11 Groww Receives Licence to Operate as Payment Aggregator from RBI

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8.12 NHPC Ltd (formerly National Hydroelectric Power Corporation Limited) &
Norway’s Ocean Sun Signed MoU to Implement Floating Solar Energy Technology
in India

8.13 Designer Bhavi Mehta wins Oxford Bookstore Book Cover Prize 2024 for
‘The Book Beautiful’

8.14 Jeremiah Manele Sworn in as New Prime Minister of Solomon Islands

8.15 DRDO successfully tests Long-range Supersonic Missile-Assisted Release of

Torpedo (SMART) system from Odisha

8.16 FIDE Bestows Grandmaster(GM) Title to Indian Chess Player Vaishali

Rameshbabu

For any feedback and query, kindly mail at [email protected]

8.17 Former RBI Governor D Subbarao launched a new book titled, ‘Just A
Mercenary?: Notes from My Life and Career’

8.18 Ministry of Mines Signed a MoU with Shakti for Sharing Knowledge in
Critical Minerals

8.19 Army Dental Centre Research and Referral Releases Special Postal Cover for
“Silver Jubilee” Celebration

8.20 RailTel and Quadrant Future Tek signed MoU to explore and deliver train
collision avoidance system KAVACH Globally

8.21 Comptroller and Auditor General(CAG) of India Signed MoU with Auditor
General of Nepal to Enhance Audit Expertise

For any feedback and query, kindly mail at [email protected]

8.22 Organisation for Economic Co-operation and Development (OECD) Revised
India’s GDP Growth Forecast for FY25 to 6.6%

8.23 Assam Conservationist Dr Purnima Devi Barman wins Whitley Gold Award
2024

8.24 Appointment Committee of the Cabinet (ACC) Appoints Sanjaya Kumar

Mishra as President of Goods and Services Tax Appellate Tribunal (GSTAT)

8.25 China Successfully Launches ‘Chang’e-6,’ World’s 1st Mission to Bring

Samples from Moon

8.26 India to host Badminton World Federation (BWF) World Junior Badminton
Championships 2025 in Guwahati

For any feedback and query, kindly mail at [email protected]

8.27 Flying Wedge Defence and Aerospace unveiled FWD-200B, India’s 1st
Indigenous Bomber Unmanned Combat Aerial Vehicle (UCAV)

8.28 Fship Logistics Partners with India Post for Last-mile E-commerce Delivery
Services

8.29 IFFCO Receives FCO Approval for Nano Zinc Liquid, Nano Copper Liquid
Fertilisers

8.30 C-DAC developed Thermal Camera transferred to CP Plus; Meity launched

ITS Booklet

8.31 Atanu Chakraborty Reappointed as Part-Time Chairman & Independent

Director of HDFC Bank

For any feedback and query, kindly mail at [email protected]

8.32 RBI Approves Appointment of Sanjeev Nautiyal as Next MD & CEO of Ujjivan
SFB

8.33 Mallika Nadda Appointed as Chairperson of Special Olympics Asia-Pacific

Advisory Council

8.34 Dr. Subhransu Sekhar Acharya Assumed Charge as CMD of National Small
Industries Corporation Limited (NSIC)

8.35 Vice-Admiral Krishna Swaminathan Assumed Charge as Vice-Chief of Naval

Staff

8.36 German Company HyImpulse Launched Candle Wax-Powered Rocket on a

Test Flight into Space

For any feedback and query, kindly mail at [email protected]

8.37 Former Minister José Raúl Mulino Elected as President of the Republic of
Panama

8.38 Rakesh Singh Appointed as CEO of Paytm Money

8.39 China defeats Indonesia to win BWF Thomas and Uber Cup 2024 Finals

8.40 Nepal government is set to introduced the new Rs 100 currency note
featuring a map which includes the controversial border territories of Lipulekh,
Limpiyadhura and Kalapani of Uttarakhand in its strategic northwest trijunction
between India, Nepal and China.

8.41 India and Ghana Agrees to Operationalise Unified Payment Interface (UPI)
on Ghana Interbank Payment and Settlement Systems (GHIPSS) in 6 months

For any feedback and query, kindly mail at [email protected]

8.42 Ind-Ra Raises India’s GDP Growth Forecast for FY25 to 7.1% from 6.5%

8.43 UNICEF India appoints Kareena Kapoor Khan as its National Ambassador

8.44 Lando Norris marks his first victory in F1 career after winning Miami Grand
Prix 2024

8.45 Frank A. Shrontz, chairman emeritus & Former CEO of Boeing Co. Passed
Away

8.46 IA Western Command & IAF conducted Joint Ex- Gagan Strike-II in Punjab

8.47 Infosys Receives ISO 42001:2023 Certification for Artificial Intelligence

Management System

For any feedback and query, kindly mail at [email protected]

8.48 Adani Green Energy Limited(AGEL) Signed a 20-year Agreement with
Government of Sri Lanka for Wind Power Stations

8.49 Scotland Parliament Elected John Swinney as its First Minister

8.50 Coca-Cola India Announces First Ever Partnership with Hockey India for
National Women’s Hockey League

8.51 YES BANK Partnered with EBANX to Empower Cross-Border Commerce in

India

8.52 India contributes USD 500,000 to U.N. Trust Fund for Counter-Terrorism

8.53 Google Launched Google Wallet for Android Users in India

For any feedback and query, kindly mail at [email protected]

8.54 Batillipes Chandrayaani: New Tardigrade Species Discovered from Coast of
TN; Named After Chandrayaan-3 Mission

8.55 Peucetia chhaparajnirvin: New Green Lynx Spider Discovered from

Rajasthan

8.56 Indian Boxers clinch 43 Medals at the ASBC Asian U-22 and Youth Boxing
Championships 2024

8.57 Sahitya Akademi Award-winning Urdu litterateur Salam Bin Razzaq Passed
Away

8.58 Belize, Jamaica, St. Vincent and Grenadines Received WHO Certification for
Eliminating Mother-to-Child Transmission of HIV and Syphilis

For any feedback and query, kindly mail at [email protected]

8.59 RBI Lifts Restrictions on Bank of Baroda’s mobile app “BoB World”; Allows
Onboarding Customers

8.60 Securities and Exchange Board of India (SEBI) Gives Approval To CARE
Ratings’ Subsidiary to Offer Environmental, Social, and Governance (ESG) Ratings

8.61 Russian President Vladimir Putin Proposes Reappointment of Mikhail

Mishustin as PM

8.62 Rizwan Koita Replaces Mahesh Verma as Chairperson of National

Accreditation Board for Hospitals and Healthcare Providers (NABH).

8.63 Kadet Defence Systems Introduced India’s 1st Loitering Aerial Munitions for
Armed Forces

For any feedback and query, kindly mail at [email protected]

8.64 Astronomers Detect Rocky Planet “55 Cancri e” with Atmosphere

8.65 The Indian National Space Promotion and Authorization Center (IN-SPACe)
Signed MoU with GalaxEye For Testing Facilities

8.66 Ablennes joseberchmansis & Ablennes gracalii: ICAR-CMFRI Kochi Identifies

2 New Needlefish Species from Indian Waters

8.67 Football: Mumbai City Beats Mohun Bagan 3-1 to Win the Indian Super
League 2023-24 Final

8.68 Fomer Bureaucrat & Padma Bhushan Awardee Moosa Raza Passed Away

8.69 The Indian Coast Guard (ICG) Signed MoU with Hindalco For Indigenous
Marine-Grade Aluminium

For any feedback and query, kindly mail at [email protected]

8.70 Dileep Sanghani Re-elected as Chairman of IFFCO; Balvir Singh Retains Vice
Chairman Position

8.71 ISRO successfully tests AM PS4 Engine, a 3D Printed Rocket Engine at

Mahendragiri, TN

8.72 The Defence Research and Development Organisation (DRDO) announced

that one of its labs, Defence Materials and Stores Research and Development
Establishment (DMSRDE) has made Liquid Ramjet Fuel For Advanced Air-
Breathing Engine

8.73 NASA-JAXA XRISM Mission Discovered Iron Fingerprints in NGC 4151

8.74 Renowned Punjabi Poet & Padma Shri Awardee Surjit Patar Passed Away

For any feedback and query, kindly mail at [email protected]

8.75 Hollywood Film Producer & Director Roger Corman Passed Away

8.76 Renowned Chess trainer & Kerala’s 1st International Master Varugeese
Koshy Passed Away

8.77 7th India-France Joint Military “Ex-SHAKTI” 2024 Commences in Meghalaya

8.78 India & Iran Signed a Long Term Contract to Operate Chabahar Port in Iran

8.79 India’s Ramcharitmanas, Panchatantra and Sahṛdayāloka –Locana Included

in UNESCO’s Memory of the World (MOW) Register

8.80 Hyderabad-based Greenko Zeroc Signed Green Ammonia Supply Pact with
Norway’s Yara

For any feedback and query, kindly mail at [email protected]

8.81 IIFL Securities Limited Appointed Nemkumar as its New Managing Director
(MD)

8.82 Magnus Carlsen Wins the 2024 Superbet Poland Rapid & Blitz;
Praggnanandhaa Finishes Fourth

8.83 Indian Javelin Thrower Neeraj Chopra finished second at the Doha Diamond
League 2024

8.84 Padma Shri Awardee Birubala Rabha, Anti-witch Hunting Crusader, Passed
Away

8.85 IAF Conducted ‘Bambi Bucket’ Operation To Combat Forest Fires in

Uttarakhand

For any feedback and query, kindly mail at [email protected]

8.86 Mazagon Dock Shipbuilders Ltd celebrates 250th Foundation Day

8.87 National Security Guard (NSG) holds 7th Joint Anti-Terror Mock Drills
Exercise TARKASH with United States (US) Special Operations Forces (SOF) in
Kolkata

8.88 India’s GDP is Projected to Grow at 6.6% in FY25: Moody’s Ratings

8.89 Renowned English Author Ruskin Bond Received Sahitya Akademi

Fellowship

8.90 The United Nations Development Programme has appointed Alain

Noudéhou of Benin as the new Executive Director of the UN Multi – Partner
Trust Fund Office (MPTFO).

For any feedback and query, kindly mail at [email protected]

8.91 Vice Admiral Sanjay Bhalla assumes charge as Chief of Personnel of Indian
Navy

8.92 Japan Launches World’s First 6G Device, 20 Times Faster Than 5G

8.93 P.Shyam Nikhil Becomes India’s 85th Chess Grand Master (GM)

8.94 Canadian Author & Nobel Laureate in Literature Alice Munro Passed Away

8.95 Former Bihar Deputy CM Sushil Kumar Modi Passed Away

8.96 Unemployment Rate at 6.7% in Q4FY24: 22nd Quarterly Periodic Labour

Force Survey (PLFS) by National Sample Survey Office (NSSO)

8.97 India Extends Budgetary Support of USD 50 Million to Maldives

For any feedback and query, kindly mail at [email protected]

8.98 ReNew Signed MoU with Societe Generale for Energy Transition Projects of
USD 1 Billion over Next 3 years

8.99 ADB Approves USD 148.5 Million Loan to Enhance Power Distribution
System(PDS) of Sikkim

8.100 Forbes 30 Under 30 Asia 2024 features 86 Indians; includes Akshit Bansal,
Raghav Arora & Bhagya Shree Jain

8.101 Lawrence Wong Becomes the New Prime Minister of Singapore

8.102 R Lakshmi Kanth Rao Assumed Charge as Executive Director of RBI

8.103 NASA Plans to Build ‘Flexible Levitation on a Track (FLOAT)’, the 1st Railway
System on Moon

For any feedback and query, kindly mail at [email protected]

8.104 Renowned Author, Storyteller & Padma Shri Awardee Malti Joshi Passed
Away

8.105 Anuradha Mascarenhas’s new book “At The Wheel of Research”, biography
of former WHO Chief Scientist Soumya

8.106 Federation of Indian Chambers of Commerce and Industry (FICCI) signed a

Memorandum of Understanding (MoU) with India Electronics and
Semiconductor Association (IESA), to promote innovation, bolster the
semiconductor and electronics industry and fortify supply chains.

8.107 PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka

8.108 India’s 2024 Economic Growth Projection Revised upwards to 6.9%: United
Nations Department of Economic and Social Affairs (UN-DESA),’s ‘World
Economic Situation and Prospects (WESP) 2024
For any feedback and query, kindly mail at [email protected]
8.109 Forbes’ World’s Highest-Paid Athletes 2024: Portuguese Soccer Player
Ronaldo Tops

8.110 Indian National Space Promotion and Authorisation Centre (IN-SPACe)

honoured with Geospatial World Leadership Award at Geospatial World
Leadership Award 2024

8.111 Sela Tunnel of Arunachal Pradesh Recognised as India’s Highest Tunnel by

International Book of Honour

8.112 Former Union Minister Kapil Sibal Elected as President of Supreme Court
Bar Association

8.113 Andrej Plenkovic Appointed as PM-Designate of Croatia for 3rd Term

For any feedback and query, kindly mail at [email protected]

8.114 Junta Leader Mahamat Déby Elected as President of Republic of Chad

8.115 Neeraj Chopra Wins Gold Medal in 27th National Federation Senior
Athletics Competition 2024

8.116 Former Gujarat Governor & Veteran Congress Leader Kamla Beniwal Passed
Away

8.117 World Hydrogen 2024 Summit & Exhibition Held in Netherlands: India set
up its Maiden Pavilion

8.118 IndiaFirst Life Insurance Approved the Appointment of Rushabh Gandhi as

its New MD and CEO

8.119 Pakistan Conducted Training Launch of ‘Fatah-II’, an Indigenous Rocket

For any feedback and query, kindly mail at [email protected]

 System

8.120 Researchers Discovered “Super fluffy” Exoplanet with Cotton candy-like

Density

8.121 Australia & Uzbekistan Confirmed as Host of Asian Football Confederation

(AFC) Women’s Asian Cup 2026 & 2029

8.122 Padma Awardee and Former Chairman of ICICI Bank, Narayanan Vaghul
passed away

8.123 ITC Chairman Sanjiv Puri Take Charge as President of Confederation of

Indian Industry (CII) for 2024-25

8.124 William Lai Ching-te Sworn in as 16th President of Taiwan; Bi-khim Hsiao

For any feedback and query, kindly mail at [email protected]

 Took Oath as Vice President

8.125 ISRO’s Mangalyaan-2 Mission to Include Helicopter, Sky Crane, Rover for
Navigation on Mars

8.126 Blue Origin’s NS-25 mission Lifted off with 6 Crew Members Including One
Indian

8.127 Satwiksairaj Rankireddy and Chirag Shetty won the doubles title in
Badminton World Federation (BWF) Thailand Open 2024

8.128 Max Verstappen beats Lando Norris to win the Emilia-Romagna Grand Prix
2024

8.129 Brazil Declared Host of FIFA Women’s World Cup 2027

For any feedback and query, kindly mail at [email protected]

8.130 Iran President Ebrahim Raisi Passed away; Mohammad Mokhber Takes
Charge as Interim President

8.131 ICRA: India’s GDP Growth to Dip to Four-quarter low of 6.7% in Q4 of FY24

8.132 RITES signs pact with Bangladesh Railway to Supply 200 BG Passenger
Coaches

8.133 Indian Oil Corporation Limited (IOCL) Exports 1st consignment of India’s 1st
Premium Fuel “XP100” to Sri Lanka

8.134 Bloomberg Billionaires Index May 2024: Mukesh Ambani & Gautam Adani
among top 15

8.135 Luis Abinader Re-elected as President of Dominican Republic for 2nd Term

For any feedback and query, kindly mail at [email protected]

8.136 GalaxEye Space Solutions Pvt Ltd, has successfully tested its Synthetic
Aperture Radar (SAR) technology on a subscale High Altitude Pseudo-Satellite
(HAPS) developed by the Council of Scientific and Industrial Research (CSIR) –
National Aerospace Laboratories (NAL). With this, GalaxEye becomes the world’s
1st private entity to conduct SAR trials on the HAPS platform.

8.137 Microsoft introduces ‘Copilot+ PCs’ featuring advance AI

8.138 German Author Jenny Erpenbeck and Translator Michael Hofmann Won
International Booker Prize 2024 for ‘Kairos’

8.139 To Lam Named as the New President of Vietnam

8.140 RBI Approved the Appointment of Pradeep Natarajan as Whole Time

Director of IDFC First Bank

For any feedback and query, kindly mail at [email protected]

8.141 India Finishes Third, Kazakhstan Tops the Medal Tally of the Elorda Cup
Astana 2024

8.142 Magnus Carlsen Won the Casablanca Chess Tournament 2024; Anand
Secured 3rd Position

8.143 Spain Becomes 99th Member of International Solar Alliance (ISA)

8.144 Mahindra Finance Receives IRDAI Approval to Sell Insurance Products as

Corporate Agent

8.145 Ligdus Garvale: New Spider Species Identified in Karnataka

8.146 Oscar-award-winning American Film Producer Fred Roos Passed Away

For any feedback and query, kindly mail at [email protected]

8.147 Oscar-winning Polish Music Composer Jan A.P. Kaczmarek Passed Away

8.148 GoI Appoints Sheel Nagu as Acting Chief Justice (ACJ) of Madhya Pradesh
High Court; R Mahadevan as ACJ of Madras HC

8.149 Indian-Origin Scientist Shrinivas R. Kulkarni won the Prestigious Shaw Prize
in Astronomy for 2024

8.150 Thiruvananthapuram International Airport Becomes the 1st Airport to

achieve Zero Waste to Landfill (ZWL) accolade awarded by the CII-ITC CESD
(Centre for Excellence for Sustainable Development)

8.151 Delhi HC Appointed Justice Najmi Waziri as Chairperson of Administrative

Committee of Equestrian Federation of India (EFI).

For any feedback and query, kindly mail at [email protected]

8.152 Former Ambassador Allamaye Halina Appointed as New Prime Minister of
Chad

8.153 Emblica chakrabartyi: New Plant Species Discovered in Kerala

8.154 According to the Wall Street Journal (WSJ)’s list of the highest-paid Chief
Executive Officers (CEOs) in the United States of America (USA) for 2023. Indian-
origin Nikesh Arora, chairman and CEO of Palo Alto Networks became the
world’s 2nd highest-paid CEO in 2023 with a substantial remuneration of USD
151.43 million (approximately Rs 1,260 crore).

8.155 Arti(18), a rickshaw driver from Uttar Pradesh (UP) has won the prestigious
Amal Clooney Women’s Empowerment Award at the Prince’s Trust Awards, an
event that celebrates the achievements of young people from around the world
in London, United Kingdom (UK).

For any feedback and query, kindly mail at [email protected]

8.156 Former Cabinet Secretary Pradeep Kumar Sinha Appointed as Non-
Executive Part-Time Chairman Of ICICI Bank

8.157 Shahid Afridi Joins Yuvraj Singh, Chris Gayle As Tournament Ambassador For
ICC Men’s T20 World Cup 2024

8.158 IAF Conducted Night Vision Goggles-aided Landing of C-130J Aircraft in

Eastern Sector

8.159 Asian Relay Championships 2024 – Indian mixed 4x400m team wins gold
and men’s and women’s 4x400m teams win silver medals

8.160 The International Olympic Committee (IOC) Launched “Let’s Move India”
Campaign to inspire people to celebrate Athletes at Paris Olympics

For any feedback and query, kindly mail at [email protected]

8.161 The Prudential Authority of the South African Reserve Bank (SARB), the
central bank of South Africa (SA), has imposed a financial penalty of 10 million
rand (~Rs 4.5 crore) on the State Bank of India (SBI)’s SA branch for violating
anti-money laundering laws in SA.

8.162 Goldman Sachs Revised India’s 2024 GDP Growth Projection Upwards to
6.7%; Expects RBI Rate Cut in Q4

8.163 Power Grid Corporation of India Limited (POWERGRID) Receives Association

for Talent Development (ATD) BEST Awards 2024 for the 3rd time in Learning &
Development (L&D) Field; NTPC Secures 3rd Rank Globally

8.164 Vice Admiral Gurcharan Singh Assumes Charge as Commandant, National

Defence Academy

8.165 Gitanas Nauseda Re-elected as the President of Lithuania for 2nd Term
For any feedback and query, kindly mail at [email protected]
8.166 NASA Launches Small Climate Satellite PREFIRE (Polar Radiant Energy in the
Far-InfraRed Experiment) from New Zealand’s Rocket Lab’s Launch Complex to
Study Earth’s Poles

8.167 SpaceX Launched 1st Batch of Satellites for New U.S. Spy Constellation

8.168 Iran’s Bardiya Daneshwar won Sharjah Masters 2024 in Chess; India’s Divya
Deshmukh won Challengers 2024 Title

8.169 Malaysia Masters 2024 – PV Sindhu finishes runner-up in the Women’s

Singles; Viktor Axelsen wins the Men’s Singles title

8.170 Oscar Winning American Songwriter Richard M. Sherman Passed Away

8.171 RBI Imposes Monetary Penalty on ICICI Bank, Yes Bank For Rule Violations

For any feedback and query, kindly mail at [email protected]

8.172 77th Cannes Film Festival: Sean Baker’s Anora won Palme d’Or & Payal
Kapadia’s All We Imagine As Light won Grand Prix

8.173 DRDO Chairman Samir V Kamat Gets One Year Extension in Service

8.174 Indian Premier League 2024: Kolkata Knight Riders won the championship
defeating Sunrisers Hyderabad

8.175 Dipa Karmakar Becomes 1st Indian Gymnast to Win Gold Medal at Asian
Gymnastics Championships 2024

8.176 Archery World Cup 2024: Indian Women’s Compound Team Wins Gold &
Mixed Team Wins Silver

8.177 Formula 1: Ferrari’s Charles Leclerc wins Monaco F1 GP 2024

For any feedback and query, kindly mail at [email protected]

8.178 Poonawalla Fincorp & IndusInd Bank Jointly Launch Co-branded Poonawalla
Fincorp IndusInd Bank eLITE RuPay Credit Card

8.179 GoI Announces USD 1 Million Immediate Relief Aid for Landslide-Hit Papua
New Guinea

8.180 Indian-Origin Sculptor Anish Kapoor Topped the 6th Hurun India Art List
2024

8.181 Emmanuelle Soubeyran Elected as New Director General of World

Organisation for Animal Health (WOAH)

8.182 Jetha Ahir Elected as Chairman of National Agricultural Cooperative

Marketing Federation of India Ltd (NAFED)

For any feedback and query, kindly mail at [email protected]

8.183 Oedocladium sahyadricum: New Algal Species Discovered in Western Ghats

8.184 The Indian Institute of Technology Kanpur (IITK) has partnered with the
Defence Research and Development Organisation (DRDO) and inaugurated the
DRDO-Industry-Academia Centre of Excellence (DIA CoE) on IITK campus for
interdisciplinary research in next-generation defence technologies.

8.185 SBI Research Report: India’s GDP Growth Likely to Touch 8%; 7.4% GDP
Growth for Q4FY24

8.186 Muthoot Pappachan Group Named Actor Shah Rukh Khan as its Brand
Ambassador

8.187 Agnikul Cosmos launched Agnibaan SOrTeD (SubOrbital Technological

Demonstrator) powerd by World’s 1st 3D Printed Semicryogenic Rocket Engine

For any feedback and query, kindly mail at [email protected]

8.188 DRDO Successfully Conducted the Flight-test of RudraM-II Air-to-Surface
Missile from Su-30 MK-I off the Odisha Coast

8.189 South Korea Completes Development of Long-Range Surface-to-Air Missile

(L-SAM) system

8.190 Indian Arm Wrestlers won 7 medals at the Asian Arm-wrestling

Championship 2024

8.191 Oscar Winning Canadian Film Producer Albert S. Ruddy Passed Away

8.192 Ayushman Bharat Diwas 2024 – April 30

8.193 International Jazz Day 2024 – April 30

For any feedback and query, kindly mail at [email protected]

8.194 World Immunization Week 2024 – 24 to 30 April

8.195 International Workers’ Day 2024 – May 01

8.196 World Tuna Day 2024 – May 2

8.197 World Press Freedom Day 2024 – May 3

 Theme - A Press for the Planet: Journalism is the Face of the environmental crisis.
8.198 International Sun Day 2024 – May 3

8.199 International Leopard Day 2024- May 3

8.200 International Firefighters’ Day 2024 – May 4

8.201 World Laughter Day 2024 – May 5

For any feedback and query, kindly mail at [email protected]
  Theme - Laughter Unites Us All
8.202 World Hand Hygiene Day 2024 – May 5

8.203 International Day of the Midwife 2024 – May 5

 Theme - Midwives: A Vital Climate Solution
8.204 World Cartoonist Day 2024 – May 5

8.205 World Portuguese Language Day 2024 – May 5

8.206 African World Heritage Day 2024 – May 5

 Theme - Safeguarding Africa’s Heritage through Education
8.207 International No Diet Day 2024 – May 6
 Theme - Embrace Yourself: Reject Diet Culture, Love You
8.208 World Asthma Day 2024 – May 7
 Theme - Asthma Education Empowers
For any feedback and query, kindly mail at [email protected]
8.209 65th Border Roads Organisation Raising Day – 7 May 2024

8.210 World Athletics Day 2024 – May 7

 Theme - World Mile Challenge
8.211 World Red Cross and Red Crescent Day 2024 – May 8
 Theme - Keeping Humanity Alive
8.212 World Thalassaemia Day 2024 – May 8
 Theme - Empowering Lives, Embracing Progress: Equitable and Accessible
Thalassaemia Treatment for All
8.213 Time of Remembrance and Reconciliation for Those Who Lost Their Lives
during the Second World War – 8-9 May 2024

8.214 International Day of Argania 2024 – May 10

 Theme - The Argan Tree facing the challenges of climate change
8.215 National Technology Day 2024 – May 11
For any feedback and query, kindly mail at [email protected]
  Theme - Promoting Clean and Green Technologies for a Sustainable Future
8.216 World Migratory Bird Day 2024 – May 11
 Theme - Protect Insects, Protect Birds
8.217 International Day of Plant Health 2024 – May 12
 Theme - Plant Health, Safe Trade, and Digital Technology
8.218 International Nurses Day 2024 – May 12
 Theme - Our Nurses. Our Future. The economic power of care
8.219 International Day of Families 2024 – May 15
 Theme - Families and Climate Change
8.220 International Day of Living Together in Peace 2024 – May 16

8.221 International Day of Light 2024 – May 16

8.222 National Dengue Day 2024 – May 16

For any feedback and query, kindly mail at [email protected]

8.223 World Telecommunication and Information Society Day 2024 – May 17
 Theme - Digital Innovation for Sustainable Development
8.224 World Hypertension Day 2024 – May 17
 Theme - Measure Your Blood Pressure Accurately, Control It, Live Longer
8.225 Endangered Species Day 2024 – May 17
 Theme - Celebrate Saving Species
8.226 International Day Against Homophobia, Transphobia, and Biphobia 2024 –
May 17
 Theme - No One Left Behind: equality, freedom and justice for all
8.227 International Museum Day 2024 – May 18

8.228 World AIDS Vaccine Day 2024 – May 18

8.229 International Day for Women in Maritime 2024- May 18

 Theme - “Safe Horizons: Women Shaping the Future of Maritime Safety
For any feedback and query, kindly mail at [email protected]
8.230 World Bee Day 2024 – May 20
 Theme - Bee Engaged with Youth
8.231 World Metrology Day 2024 – May 20
 Theme – Sustainability
8.232 World Day for Cultural Diversity for Dialogue and Development 2024 – May
21

8.233 International Tea Day 2024 – May 21

8.234 National Anti-Terrorism Day 2024 – May 21

8.235 International Day for Biological Diversity 2024 – May 22

 Theme - Be part of the Plan
8.236 International Day to End Obstetric Fistula 2024 – May 23
 Theme - Breaking the Cycle: Preventing Fistula Worldwide
For any feedback and query, kindly mail at [email protected]
8.237 World Turtle Day 2024 – May 23
 Theme - Let’s Party
8.238 International Day of Vesak or Buddha Purnima 2024 – May 23

8.239 First-Ever UN International Day of the Markhor 2024 – 24 May

8.240 Indian Commonwealth Day 2024 – May 24

 Theme - One Resilient Common Future: Transforming our Common Wealth
8.241 World Schizophrenia Awareness Day 2024 – May 24

8.242 First-Ever UN World Football Day – 25 May 2024

8.243 International Day of Missing Children 2024 – May 25

8.244 World Thyroid Day 2024 – May 25

For any feedback and query, kindly mail at [email protected]
  Theme - Non-Communicable Diseases (NCDs)
8.245 World Hunger Day 2024 – May 28
 Theme - Thriving Mothers. Thriving World
8.246 International Day of Action for Women’s Health 2024 – May 28
 Theme - Mobilising in Critical Times of Threats and Opportunities
8.247 World Menstrual Hygiene Day 2024 – May 28
 Theme - Together for a #PeriodFriendlyWorld
8.248 International Day of United Nations Peacekeepers 2024 – May 29
 Theme - Fit for the Future: Building Better Together
8.249 World Digestive Health Day 2024 – May 29
 Theme - Your Digestive Health: Make It A Priority
8.250 International Everest Day 2024 – May 29

8.251 UN’s First-Ever International Day of Potato – 30 May 2024

 Theme - Harvesting diversity, feeding hope
For any feedback and query, kindly mail at [email protected]
8.252 World Vape Day 2024 – May 30
 Theme - Misperception Epidemic

For any feedback and query, kindly mail at [email protected]