Current Affairs Quiz 9th May 2024 Quiz

Exp. Sri Lanka signs 20-Year Power Deal with Adani Green Energy for Wind Stations

Sri Lanka has sealed a 20-year power deal with Adani Green Energy Ltd of India.

Sri Lanka’s Cabinet of Ministers have approved the project under which two wind power stations will be developed by Adani, marking a crucial step towards sustainable energy solutions.

The approval granted last year for Adani’s $442 million investment in 484 megawatts wind power plants underscores the growing partnership between the two nations in the renewable energy sector.

As part of the deal, Adani will receive 8.26 cents per kilowatt-hour that is approximately 7 rupees. This collaboration comes amidst Sri Lanka’s efforts to address energy challenges, including power blackouts and fuel shortages experienced during its economic crisis in 2022.

About Sri Lanka

• Legislative capital – Sri Jayawardenepura Kotte
• Executive and Judicial capital – Colombo
• Currency – Sri Lankan rupee
• President – Ranil Wickremesinghe
• Prime Minister – Dinesh Gunawardena

Exp. Indian Coast Guard and Jindal Steel & Power sign MoU to enhance indigenous shipbuilding

The Indian Coast Guard and Jindal Steel & Power Ltd signed an MoU for the supply of indigenous marine-grade steel.

The MoU highlights the critical role of public-private partnerships in tackling intricate security challenges, emphasising the necessity of cooperation between governmental bodies and the private sector.

Within the MoU, various significant advantages such as quality, grades, and dimensions, alongside the identification of specific steel plants tasked with manufacturing the product are outlined.

These provisions serve as assurances to shipbuilding yards, ensuring a timely and consistent supply of marine-grade steel for the Indian Coast Guard.

About Indian Coast Guard

• Formed – 18 August 1978
• Headquarters – New Delhi
• Director General – Rakesh Pal

Exp. Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja

The Competition Commission of India (CCI) has approved the acquisition of additional shares in Sikkim Urja Limited (formerly Teesta Urja Limited) by Greenko Energies Private Limited.

Sikkim Urja Ltd is a special purpose vehicle incorporated for the purpose of the implementation of the 1,200 MW hydropower project in North Sikkim.

According to the CCI, Greenko Energies, an indirect company wholly owned by Greenko Mauritius, will acquire the additional shares in the capacity of 6 units of 200 MW each in the hydro power project.

The project will be executed by Greenko Mauritius, a wholly owned subsidiary of Greenko Energy Holdings (GEH).

Exp. South Indian Bank and Northern Arc Capital join hands to set new benchmarks in the financial sector

South Indian Bank has formed an association with Northern Arc Capital aiming to explore and maximise commercial prospects by combining efforts in loan origination, underwriting, disbursement, collection, and reconciliation procedures.

The collaboration between South Indian Bank and Northern Arc Capital is aimed to create an ecosystem that promotes innovation and allows the seamless flow of credit across many sectors.

The cooperation will allow South Indian Bank to use nPOS, Northern Arc’s unique technology platform for co-origination, co-lending, and pool buyouts, as well as interact with numerous originators for loan origination, underwriting, disbursement, and reconciliation.

Recent MoUs Signed in Banking Sector

• Infibeam’s CCAvenue partners with Shivalik SFB to improve merchant access
• Tata Motors partners with South Indian Bank for commercial vehicle finance
• NABARD & RBI Developed Innovation Hub to fasten digital Agri lending
• Indian Bank ties up with Tata Solar Power to finance Central Rooftop Solar scheme
• SIDBI inks MOU with Jeevika Bihar, UMED Maharashtra to extend Prayaas to rural livelihood mission

Exp. HDFC Bank, Atal Innovation Mission empower social sector startups with Rs 19.6 crore grants

HDFC Bank has supported social sector startups in India with grants worth Rs 19.6 crore in FY24, in partnership with Atal Innovation Mission (under NITI Aayog).

In FY 2023-24, 170 social start-ups received funding via 41 incubators, with a total of Rs 19.6 crore in the ‘Parivartan Start-up Grants programme.’

The focus areas for the 2024 grants included climate innovation, financial inclusion, agriculture and sustainable rural economy, accessible and affordable healthcare, education and livelihood enhancement, gender diversity and inclusion.

Over a half of the 170 startups hail from over 60 tier 2 and 3 cities.

NITI Aayog (National Institution for Transforming India)

• Founded – 1st January 2015
• Preceding – Planning Commission (15th March 1950)
• Headquarters – New Delhi
• Chairperson – Narendra Modi
• Vice Chairperson – Suman K Bery
• CEO – BVR Subrahmanyam
• NITI Aayog comes under the Ministry of Commerce and Industry

Exp. RBI removes restrictions on BoB app, allows new customer enrollment

Reserve Bank of India lifted the restrictions on Bank of Baroda, allowing the bank to resume onboarding new customers through its ‘Bob World’ mobile application.

As a result, the bank will be able to onboard customers through the mobile app.

The move likely impacted the bank’s incremental retail business sourced through the digital platform.

About 98 per cent of savings accounts and 91 per cent of current accounts are sourced digitally in the first quarter of 2023-24. About 43 per cent of time deposits and 74 per cent of retail advances are sourced through the BoB World app.

About Bank of Baroda (BOB)

• Founded – 1908
• Headquarters – Vadodara, Gujarat
• MD & CEO – Debadatta Chand
• Chairman – Hasmukh Adhia
• Tagline – India’s International Bank

Exp. Vladimir Putin sworn in as Russian President for 5th time

Vladimir Putin was sworn in as president of the Russian Federation for the fifth time for a six-year term.

He took the oath of office at a ceremony held at the Grand Kremlin Palace in Moscow.

The ceremony was attended by Russia’s top military and political leadership, but the United States and many European nations boycotted the ceremony, saying that the presidential election was a fraud.

Putin, in power as president or prime minister since 1999. In 1999, after President Boris Yeltsin’s resignation, Putin was appointed interim president of Russia.

About Russia

• Capital – Moscow
• Currency – Rubel
• President – Vladimir Putin
• Prime Minister – Mikhail Mishustin

Newly Appointed Prime Minister & President

• Presidential of Panama – Jose Raul Mulino
• 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

Exp. SBI General Insurance names Jaya Tripathi as Head of Key Relations Group

SBI General Insurance, one of India’s top general insurers, has named Jaya Tripathi as Head of Key Relations Group.

Her new role will involve leading the expansion of new business prospects and alliances, driving sales team growth, and deepening partner relationships to increase profitability.

Her broad experience includes top leadership positions in notable companies like as Mahindra Holidays, ICICI Lombard, Forevermark Diamonds (De Beers Group), and Aditya Birla Group, where she has made important contributions to commercial and strategic development.

She has earned a Post Graduate Diploma in Business Management (Marketing) from Symbiosis International University.

Recent Appointment in Banking & Insurance Sector

• CEO of Paytm Money – Rakesh Singh
• MD & CEO of Ujjivan Small Finance Bank – Sanjeev Nautiyal (replace Ittira Davis; for 3 years) effect from 1 July 2024
• Executive Director of Ujjivan SFB – Carol Furtado (3 years)
• Chairman of HDFC Bank – Atanu Chakraborty (reappointment for 3 years)
• MD & CEO of Jio Financial Services – Hitesh Sethia
• MD & CEO Axis Bank – Amitabh Chaudhry (reappointment for 3 years)

Exp. L&T Finance launches ‘The Complete Home Loan’

L&T Finance Ltd (LTF) has launched ‘The Complete Home Loan’, offered through a digitised process, along with a dedicated relationship manager and optional home décor finance.

Home décor finance aims to provide flexibility and convenience in acquiring essential furnishings for a comfortable living space.

The loan will be given against an architect’s certificate or contract certification when the house is ready for interior decoration. It will be about 15 per cent of the entire home loan, not exceeding ₹75 lakh, and can go up to 10 years.

The dedicated relationship manager will serve as a point of contact for the customer throughout the loan process, ensuring a smooth and satisfactory experience, while the digitised process will simplify the journey of availing the loan with tech intervention.

Recent Facilities Launched in Banking & Insurance Sector

• ICICI Pru Life launches ULIP having fund value-based distributor payouts
• HDFC Life launched ‘No Jhanjhat Life Insurance Fatafat’ campaign
• YES Bank collaborates with ANQ to launch Pi and Phi credit cards
• AU SFB launches 2 credit cards AU SPONT Rupay Credit Card and Secured Credit Card – NOMO (No Missing Out)
• NABARD unveils Climate Strategy 2030

Exp. 2024 Pulitzers Winner announced

Columbia University of the United States of America announced the 2024 Pulitzer Prize winners.

The awards, considered the most prestigious in the fields of journalism and arts, were conferred by Columbia University on the recommendation of the Pulitzer Prize Board.

Book, Drama, and Music Category

Journalism Category 

Special Awards and Citation

• Greg Tate – A special citation has been issued to the late writer and critic Gregory Stephen Tate, also popularly known as Greg Tate. Greg Tate was an American writer, musician, and producer.
• Journalists and Media Workers Covering the War in Gaza

About Pulitzer Prize

• The Pulitzer Prize was instituted by Joseph Pulitzer.
• He was a newspaper owner who, in 1904, provided for the foundation of the Pulitzer Prize as an incentive for excellence in Journalism, art, and culture.
• The first Prize was provided in 1917.

Exp. Uttarakhand Govt Launches Pirul Lao Paise Pao Campaign

The Uttarakhand government has launched the Pirul Lao-Paise Pao campaign to contain the raging forest fire in the state.

Under the Pirul Lao-Paise Pao campaign, the local youth and villagers will collect dry Pirul (Pine tree leaves) in the forest and take them to the designated Pirul collection centre.

The Tehsildar in their respective areas will manage the pirul collection centre under the supervision of the Sub-Divisional Magistrate.

The Pirul will be weighed and stored at the collection centre, and the villagers or youth will be paid Rs 50 per kg, which will be directly transferred to the bank accounts.

The collected Pirul will be packed and processed, and sold to the industries for further use.

About Uttarakhand

• Capital – Dehradun (Winter), Gairsain (Summer)
• Chief Minister – Pushkar Singh Dhami
• Governor – Gurmit Singh

Recent Schemes launched by state governments

• Neengal Nalama Scheme (Tamil Nadu) – To improve the health index and social well-being of all citizens in the state
• Widow Remarriage Promotion Scheme (Jharkhand) – To provide 2 lakh to all the widowed who will get remarriage.
• MYUVA Scheme (Uttar Pradesh) – To support young entrepreneurs
• Indiramma Housing Scheme (Telangana) – To provide Rs 5 lakh financial assistance to construct houses
• CM’s Health Insurance Scheme (Nagaland) – To ensures financial security and protection

Exp. 8 May – World Thalassaemia Day

World Thalassaemia Day is observed on May 8th every year.

Objective – To raise awareness about thalassaemia, a genetic blood disorder characterised by abnormal haemoglobin production.

Theme 2024 – Empowering Lives, Embracing Progress: Equitable and Accessible Thalassaemia Treatment for All.

What is Thalassaemia?

• Thalassaemia is a genetic disorder that affects the production of haemoglobin, leading to a shortage of red blood cells and anaemia.
• While carriers of the thalassaemia gene may lead normal lives, those with thalassaemia major require repeated blood transfusions and are susceptible to various infections, organ complications, and potential organ failure.

Exp. Filmmaker Sangeeth Sivan passes away

Renowned filmmaker from Kerala Sangeeth Sivan passed away at the age of 61.

He had films like ‘Vyooham,’ ‘Daddy,’ ‘Gandharvam,’ and the ‘Yodha’. Apart from this, he also made 10 Hindi movies like ‘Kya Kool Hai Hum’ and ‘Apna Sapna Money Money’.

Exp. Renowned Urdu Writer Salam Bin Razzaq passes away

The renowned Urdu litterateur and academician, Shaikh Abdussalam Abdurrazzaq passed away at the age of 83.

He was popularly known by his pseudonym Salam Bin Razzaq.

Razzaq won the prestigious Sahitya Akademi Award for Urdu literature for his acclaimed short stories collection, ‘Shikasta Buton Ke Darmiyan’, in 2004.

Born in 1941 at Panvel in Raigad district, Razzaq had a very humble beginning in life. He was deeply inspired by the trials and travails of the common masses which reflected in his writings, both prose and poetry.