Current Affairs Quiz 7th May 2024 Quiz

Exp. Thomas Cook launches video KYC for forex buyers

Thomas Cook India has launched video KYC for its retail foreign exchange customers for a safe digital transaction.

The company said that the new initiative, ‘Ab Forex Ghar Baithe’, offers customers a paperless means to buy forex without stepping out of home.

The Aadhaar-based video KYC verification ensures doorstep delivery within two hours. Customers can complete the transaction online, including loading/topping up of prepaid forex cards, fund transfers, and foreign exchange transactions.

Exp. ICICI Bank introduces UPI for NRIs through international mobile numbers

ICICI Bank has rolled out a new facility allowing its non-resident Indian (NRI) customers to make Unified Payments Interface (UPI) transactions in India using their international mobile numbers.

Previously, NRIs had to register an Indian mobile number with their Non-Resident External (NRE) or Non-Resident Ordinary (NRO) bank accounts to use UPI, limiting their ability to make payments conveniently.

The new facility allows ICICI Bank’s NRI customers to use their international mobile numbers registered with their NRE/NRO accounts for UPI payments.

This change applies to customers residing in ten countries, including the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia.

This service is available through its mobile banking app, iMobile Pay, providing an easy way for NRIs to make utility payments, merchant and e-commerce transactions, and other financial activities without switching to an Indian mobile number.

Customers can make payments by scanning any Indian QR code, sending money to a UPI ID, or sending to an Indian bank account.

About Industrial Credit and Investment Corporation of India (ICICI) Bank

• Founded – 1994
• Headquarters – Mumbai
• MD & CEO – Sandeep Bakhshi
• Tagline – Hum Hai Na Khayal Apka

Exp. India Ratings raises FY25 GDP growth forecast to 7.1% from 6.5%

India Ratings and Research on Monday revised upward the country’s GDP growth estimate for FY25 to 7.1 per cent from 6.5 per cent earlier.

The projection is marginally higher than the Reserve Bank’s estimate of 7 per cent.

The domestic rating agency said strong support from the sustained government capex, deleveraged balance sheets of corporate and banking sector, and the incipient private corporate capex cycle make it revise its estimate.

The agency said it expects the growth in private final consumption expenditure to jump to 7 per cent in FY25, up from 3 per cent in FY24, and added that this will be a three-year high.

Updated GDP List

• India Ratings – 7.1% (FY25)
• OECD – 6.6%(FY25), 6.6%(FY26)
• Fitch Rating –7% (FY25)
• SBI – 8% (FY25)
• World Bank – 6.6% (FY25), 6.5% (FY26)
• NCAER – over 7% (FY25)
• Deloitte – 6.6% (FY25)
• NIPFP – 7.1% (FY25)
• IMF – 6.8% (FY25), 6.5% (FY26)
• UNTCAD – 6.5% (FY24)
• Moody’s Analytics – 6.1% (FY24)
• ADB – 7% (FY25), 7.2%(FY26)

Exp. World’s deepest blue hole discovered in Mexico

Researchers have discovered the world’s deepest blue hole located in Mexico’s Chetumal Bay, named Taam Ja’ Blue Hole (TJBH).

Initially thought to be the second deepest, recent measurements have now recorded it at depths exceeding 420 meters below sea level (mbsl), surpassing all known blue holes to date

A blue hole is a large marine cavern or sinkhole, which is open to the surface and has developed in a bank or island composed of a carbonate bedrock.

What are blue holes and how are they formed?

• Blue holes are large marine caverns or sinkholes, typically formed in limestone or other carbonate rock beds.
• They stand out dramatically as dark blue water-filled pits, contrasting sharply with the lighter blue of surrounding shallow waters.

The formation of blue holes typically involves several natural processes:

• Dissolution of limestone: Initially, rainwater, which is slightly acidic, percolates through fractures in limestone or other soluble rock, gradually dissolving the rock and forming a void or cavern.
• Collapse of surface rock: Over time, as more rock dissolves, the ceiling of the cavern can no longer support its own weight. This can lead to a collapse, creating a sinkhole that opens directly to the surface.
• Sea level changes: During ice ages, when much of Earth’s water was locked up in glaciers, sea levels were much lower, and many of these caverns or sinkholes were dry or contained freshwater. As ice caps melted at the end of ice ages, sea levels rose, flooding these structures with marine water.

Exp. Oldest evidence of Earth’s magnetic field found in Greenland rocks

Geologists from MIT and Oxford University discovered the oldest evidence of Earth’s magnetic field in 3.7-billion-year-old rocks from Greenland’s Isua Supracrustal Belt.

Researchers determined them to be approximately 3.7 billion years old, showing remnants of a magnetic field with a strength of at least 15 microtesla, comparable to today’s magnetic field.

This finding suggests Earth’s conditions may have been habitable earlier than thought, with a stable magnetic shield playing a crucial role.

The magnetic field protects the planet from harmful solar radiation and cosmic rays, sustains the atmosphere, and allows liquid water essential for life.

By analyzing the magnetic properties and orientation of iron-oxide minerals, researchers determined the ancient field’s strength, extending the known existence of Earth’s magnetic field by 200 million years.

Exp. Jose Raul Mulino wins Panama’s Presidential election

José Raúl Mulino has won Panama’s presidential election after three of his nearest rivals conceded defeat.

The 64-year-old former security minister has secured nearly 35% of the counted votes, with more than 92% of the votes counted.

He has an unassailable 9 per cent lead over his nearest rival.

Jose Raul Mulino was initially chosen as a Vice-Presidential candidate by former president Ricardo Martinelli, who was himself the Presidential candidate.

About Panama

• Capital – Panama City
• Currency- Balboa
• Continent – North America
• President – José Raúl Mulino
• Panama is famous for its Panama Canal, which connects the Pacific Ocean with the Atlantic Ocean and is an important global maritime trade route.

Newly Appointed Prime Minister & President

• PM of Solomon Islands – Jeremiah Manele
• Deputy PM of Pakistan – Ishaq Dar
• President of Indonesia – Prabowo Subianto
• PM of Kuwait – Sheikh Ahmad Abdullah al-Ahmad al-Sabah
• PM of Ireland – Simon Harris (youngest PM of nation, 37)

Exp. Mohammad Rihan appointed DG of National Institute of Solar Energy

Prof. Mohammad Rihan has been named Director General of the National Institute of Solar Energy (NISE).

He is a professor of electrical engineering department in Aligarh Muslim University.

He will be on deputation for three years with a possible two-year extension.

Rihan’s expertise in smart grid and solar energy aligns with NISE’s goals in R&D, testing, certification, and skill development in solar technology.

Recent Appointment 

• Head of GST Appellate Tribunal – Sanjaya Kumar Mishra (for 4 years)
• MD of Raymond -Gautam Hari Singhania
• Secretary of National Jute Board – Shashi Bhushan Singh
• DG of Akashvani News aka All India Radio – Maushumi Chakravarty (replace Vasudha Gupta)
• Director of the Department of Promotion of Industry and Internal Trade (DPIIT) – Pratima Singh

Exp. Gurgaon admin ropes in cricketer Yuzvendra Chahal to boost voter turnout

Amid poll boycotts and apprehension over low voting rates among urban voters, the Gurgaon administration has announced cricketer Yuzvendra Chahal as its brand ambassador for the election.

The popular bowler will appeal to voters to exercise their rights.

Haryanvi singers MD Desi Rockstar and Naveen Punia have also been picked as brand ambassadors.

Haryana will vote in the sixth phase of the 2024 Lok Sabha elections on May 25.

The administration has also launched an app – Voter In Queue – to help voters find out their position in the polling queue and determine how long it will take for their turn to vote.

This is the first time the app will be used in an election.

Recent Brand Ambassador

• Kareena Kapoor Khan – UNICEF India National Ambassador
• Sana Mir – ICC Women’s T20 World Cup Qualifier
• Yuvraj Singh – ICC Men’s T20 World Cup 2024
• Usain Bolt – ICC Men’s T20 World Cup 2024
• Chris Gayle – ICC Men’s T20 World Cup 2024
• MS Dhoni – French carmaker Citroen
• Sanjana Sanghi – SPACE India
• Neeraj Chopra – Eveready Batteries

Exp. Japan win 2024 Men’s AFC U-23 title

Japan defeated Uzbekistan in the final to win the Men’s AFC U-23 Asian Cup for the second time.

In the final match played at the Jassim bin Hamad Stadium in Doha, Qatar.

Japan had earlier won the tournament title in 2016.

The solitary goal scored by substitute Yamada in injury time secured Japan’s victory and qualification for the 2024 Paris Olympics.

The 6th edition of the AFC U-23 Asian Cup was held in Qatar with 16 teams from across Asia vying for the coveted title.

The tournament served as a crucial qualification event for the upcoming Paris Olympics, with the top three teams earning automatic spots.

Exp. Mumbai City FC win the ISL 2023-24

The Mumbai City FC football club defeated Mohun Bagan Super Giant by 3-1 goals to win the 2023-24 Indian Super League (ISL) final.

It was played at the Vivekananda Yuba Bharati Krirangan Stadium in Kolkata (West Bengal).

This was Mumbai City FC’s second title.

In the final match, Jorge Pereyra Diaz, Bipin Singh and Jakub Vojtus scored for Mumbai City FC, while the solitary goal for the Mohun Bagan Bagan Super Giant was scored by Jason Cumming.

The winner of the ISL 2023-24 Mumbai City FC took Rs 6 crore as the prize money, and the runners-up, Mohun Bagan Super Giant, got Rs 3 crore as prize money.

Incidentally, Mumbai City FC won its first ISL title in 2020-21 by defeating the Mohun Bagan team.

Other Awards

Exp. 7 May 2024 – World Asthma Day

World Asthma Day is observed every year on first Tuesday of May. This year was observed on 7 May.

Objective – To raise awareness about asthma, a long-term lung disease that affects millions of people around the world.

Theme 2024 – Asthma Education Empowers

Asthma is a chronic respiratory condition characterised by inflammation and narrowing of the airways, leading to symptoms such as wheezing, coughing, chest tightness, and shortness of breath.

The first World Asthma Day was celebrated in 1998, at the same time as the first World Asthma Meeting in Barcelona, Spain. Since then, it has become a major global event, with over 35 countries participating in the first year.  

Exp. 7 May – World Athletics Day

World Athletics Day is observed every year on 7 May.

This day aims to promote sports and encourage people, especially the youth, to participate in athletics.

It is an annual event dedicated to honouring athletes and instilling values such as dedication and motivation that we can learn from sports.

World Athletics Day was established by the International Association of Athletics Federations (IAAF), now known as World Athletics, in 1996.  

Exp. Malayalam director-screenwriter Harikumar passes away

Veteran Malayalam director and screenwriter Harikumar passed away.

Harikumar, whose career spanned several decades, made his directorial debut with the 1981 film Ambal Poovu.

Over the years, he directed a total of 18 films, including notable works like Sukritham, Udyanapalakan, and Jalakam, collaborating with esteemed screenwriters such as M T Vasudevan Nair, Lohithadas, Sreenivasan, and Kaloor Denis.

Among his directorial ventures, Sukritham, written by M T Vasudevan Nair in 1994, stood out, earning critical acclaim and winning the National Award for Best Malayalam Film.

Exp. Former Boeing CEO Frank Shrontz passed away

Former Boeing CEO Frank Shrontz passed away at the age of 92.

Shrontz, an attorney by training, was Boeing’s chief executive officer from 1986 to 1996.

It was an era of innovation, from designing ground-breaking new jets such as the Boeing 777 to elevating quality standards after he studied processes pioneered by Japanese automakers such as Toyota Motor Corp.