May - 2024 Current Affairs

Correct Answer :   P Santhosh

---

National Asset Reconstruction Company (NARCL), India’s state-owned bad bank, has appointed P Santhosh as its new Managing Director and Chief Executive Officer. The decision was made by NARCL’s board, which recommended Santhosh for a three-year term at the helm of the asset reconstruction company.

Interim Leadership to Permanent Role :

Santhosh’s appointment comes after he served as NARCL’s acting CEO since January 2024, following the unexpected departure of N Sundar before the completion of his term. Santhosh stepped in to fill the leadership void, and his performance during this interim period seems to have impressed the board, leading to his recommendation for the top job.

Experienced Banker with Stressed Asset Resolution Expertise :

P Santhosh brings a wealth of experience to NARCL, having previously held the position of Chief General Manager at Canara Bank, one of the sponsor institutions of the asset reconstruction company. His familiarity with the banking sector and expertise in stressed asset resolution make him well-suited for the challenging task of reviving distressed assets acquired by NARCL.

Rigorous Selection Process :

NARCL initiated a comprehensive selection process in mid-April, inviting applications from senior managers with at least ten years of experience in stressed asset resolution. The company’s ambition to gradually acquire stressed assets valued at around ?2 Lakh Crore necessitated the appointment of a seasoned professional to spearhead these efforts.

Hitting the Ground Running :

According to reports, NARCL actively began acquiring distressed assets shortly after Santhosh assumed the interim leadership role. Media sources indicate that the bad bank has already purchased 18 accounts with outstanding loans amounting to ?92,500 Crore as of March 31, 2024, demonstrating its commitment to addressing the issue of non-performing assets (NPAs) in the banking sector.

Building on Past Leadership :

Santhosh’s appointment follows in the footsteps of senior bankers who have previously led NARCL. The asset reconstruction company’s past two Managing Directors and Chief Executive Officers were Sundar and Padmakumar Nair, both seasoned professionals from the State Bank of India (SBI).

As NARCL continues its mission to resolve India’s stressed assets, the appointment of P Santhosh as MD & CEO signals a renewed focus on leveraging experienced leadership to navigate the complexities of the bad bank’s operations. With his background in banking and stressed asset resolution, Santhosh is well-positioned to drive NARCL’s efforts and contribute to the overall health of the financial sector.

Correct Answer :   Sony

---

Japan’s electronics and entertainment conglomerate Sony has appointed Gaurav Banerjee, a seasoned executive from Walt Disney, as its new Chief Executive Officer for India operations.

Departure from Disney’s Hotstar :

Banerjee’s appointment comes after his resignation from Disney’s India unit, where he held pivotal roles as the Head of Content for the popular streaming service Hotstar and the Head of Business for the company’s TV channels catering to the Hindi-speaking markets.

Transition at the Helm  :

The decision to bring in fresh leadership follows Sony’s announcement last week that its current India CEO, N.P. Singh, had decided to move on, prompting the search for a successor to steer the company’s diverse media operations in the country.

Diverse Media Portfolio :

Sony’s Indian subsidiary boasts an impressive portfolio of 26 channels, spanning genres from general entertainment to sports and movies. Additionally, the company operates a streaming service, positioning itself as a formidable player in the rapidly evolving digital entertainment landscape.

Scrapped Merger Plans :

Earlier this year, Sony scrapped its planned merger with Zee Entertainment, which would have created a $10-billion enterprise. The decision to forge ahead independently underscores Sony’s commitment to strengthening its foothold in the Indian market through strategic leadership appointments.

Disney’s Reshuffling amid Reliance Merger :

Banerjee’s departure from Disney comes at a pivotal juncture for the US entertainment giant, as it seeks regulatory approval from Indian authorities to merge its India media assets with those of Reliance, the conglomerate led by billionaire Mukesh Ambani. The proposed combination aims to create India’s largest entertainment company.

Navigating a Competitive Landscape :

The Indian media and entertainment industry is witnessing intense competition, with domestic and international players vying for a larger share of the lucrative market. Sony’s appointment of Gaurav Banerjee, with his extensive experience in content creation, distribution, and business strategy, signals the company’s determination to fortify its position and capitalize on emerging opportunities.

Leveraging Expertise for Growth :

Banerjee’s tenure at Disney, where he spearheaded content strategy for the popular Hotstar platform and oversaw the Hindi TV channels business, equips him with valuable insights into the Indian consumers’ evolving preferences and consumption patterns. This expertise is expected to prove instrumental as Sony charts its course for growth in the rapidly evolving media landscape.

As the Indian media and entertainment sector continues to attract global attention and investment, strategic leadership appointments like Sony’s hiring of Gaurav Banerjee underscore the importance of having experienced professionals at the helm to navigate the complexities of this dynamic market.

Correct Answer :   India

---

India has taken on the chairmanship of the Colombo Process for the first time since the forum’s establishment in 2003. The Colombo Process is a regional consultative forum consisting of 12 member states from South and Southeast Asia focused on the management of overseas employment and the protection of migrant workers.

Promoting Safe, Orderly, and Legal Migration

The Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal announced on ‘X’ that India will chair the Colombo Process for the 2024-26 term. The forum aims to promote safe, orderly, and legal migration among its member states.

Regional Consultative Process :

The Colombo Process serves as a platform for member states to share best practices and policies regarding overseas employment. It is a non-binding process that facilitates discussions on improving the management of migration and protecting the rights of migrant workers.

India’s Role and Contributions :

India has been an active participant in the Colombo Process since its inception. It has engaged in ministerial consultations, senior officers’ meetings, and Thematic Area Working Groups (TAWGs). India has also contributed to various studies under the process, including those on remittance frameworks, recruitment agency ratings, and social protection for migrant workers.

Support from International Organizations :

Amy Pope, Director General of the International Organisation for Migration (IOM), expressed support for India’s new role. She emphasized the IOM’s commitment to assisting the Colombo Process in its efforts to safeguard migrant workers’ rights and facilitate safe migration practices.

Correct Answer :   May 29th

---

International Day of United Nations Peacekeepers, celebrated annually on May 29th, we honour the extraordinary contributions of peacekeepers towards international peace and security. Since the establishment of the first UN peacekeeping mission in 1948, more than two million peacekeepers have served in 71 missions, helping countries navigate from war to peace.

Current Peacekeeping Missions and Their Impact :

Currently, over 76,000 peacekeepers from more than 120 countries are deployed across 11 global operations. Their hard work and commitment help foster peace and stability for millions affected by conflict. Despite evolving challenges, peacekeepers remain steadfast in safeguarding civilians, saving and transforming lives, and promoting peace.

Honouring the Establishment of UN Peacekeeping :

The International Day of United Nations Peacekeepers honours the establishment of the UN’s first peacekeeping mission, UNTSO, which was deployed in 1948. On this day, we recognize the bravery and commitment of all peacekeepers who serve globally and pay our respects to those who sacrificed their lives in the pursuit of peace.

This Year’s (2024) Theme: “Fit for the Future: Building Better Together” :

This year (2024), the United Nations commemorates the International Day of Peacekeepers under the theme, “Fit for the Future: Building Better Together.” This theme acknowledges UN Peacekeeping’s crucial role in helping countries transition from conflict to peace over 75 years and supports the Secretary-General’s New Agenda for Peace to address future crises and conflicts effectively.

Emphasizing Collaboration and Innovation :

The theme emphasizes the importance of fostering collaboration and innovation to address the evolving challenges of peacekeeping effectively. As global conflicts continue to change, UN Peacekeeping operations must adapt to the unique needs and circumstances of each mission.

Summit of the Future: Reaffirming Commitment to Peacekeeping :

The upcoming Summit of the Future in September presents a unique opportunity to reaffirm our commitment to peacekeeping and address the challenges that lie ahead.

Appreciating Partners in Peace :

On this International Day of Peacekeepers, we extend our appreciation to all our partners in peace, including UN agencies, humanitarian organizations, local communities, women, youth, media professionals, host governments, troop and police contributing countries, member states, and many others.

Social Media Campaign: Sharing Stories of Peacekeepers :

To mark this occasion, the Department of Peace Operations launched a month-long social media campaign. During the month of May, inspiring stories of peacekeepers and the powerful partnerships that drive progress, peace, and sustainable development will be shared, ultimately creating a better future for all. This initiative aims to raise awareness and foster continued support for the essential work of UN Peacekeepers worldwide.

Correct Answer :   Kansas

---

Kansas is famously known as The Sunflower State due to the abundance of wild sunflowers that adorn its plains. This nickname stems from the state’s significant cultivation of sunflowers and their representation in its landscape and culture. The sunflower holds practical importance in Kansas’s agricultural economy while symbolizing the state’s resilience and natural beauty.

The Origin of the Nickname “The Sunflower State” :

Kansas earned the moniker “Sunflower State” due to the abundance of wild sunflowers that dot its plains. These resilient flowers, with their bright yellow petals, have become an iconic symbol of the state, embodying its spirit of resilience, strength, and natural beauty. The sunflower’s prominence in Kansas’s landscape is so profound that it was officially designated as the state flower in 1903.

Symbolism in the State Flag :

The sunflower’s significance is further underscored by its presence on the official state flag of Kansas. Against a field of azure blue, the state flag proudly displays the state seal, encircled by thirty-four stars symbolizing Kansas’s place as the thirty-fourth state to join the Union. Above the seal, a magnificent sunflower blooms, its vibrant petals reaching towards the sun, representing the state’s optimism and vitality.

Agricultural Heritage :

Beyond its symbolism, the sunflower holds practical importance for Kansas. The state’s fertile soil and favorable climate provide ideal conditions for sunflower cultivation, making Kansas one of the nation’s leading producers of this versatile crop. Sunflowers not only contribute to the state’s agricultural economy but also play a role in supporting local wildlife, as their seeds serve as a vital food source for birds and other animals.

Cultural Significance :

The sunflower’s influence extends beyond agriculture, permeating Kansas’s culture and identity. It is celebrated in art, literature, and festivals throughout the state, serving as a source of inspiration for artists and a source of pride for residents. From sprawling fields of golden blooms to intricate floral arrangements, the sunflower’s beauty continues to captivate all who encounter it.

Correct Answer :   25 May 2024

---

* Disney songwriter Richard M. Sherman died of an age-related illness at 95 on Saturday, 25 May 2024

* Richard was best known for being part of the Sherman Brothers with his late brother Robert B. Sherman

* Richard is survived by his wife Elizabeth of 66 years, three children, six grandchildren and three great-grandchildren


Richard M. Sherman, one half of the renowned Sherman Brothers duo, who crafted some of Disney’s most iconic and memorable songs, has passed away at the age of 95. Sherman, along with his late brother Robert, left an indelible mark on millions of childhoods through their award-winning compositions for films like “Mary Poppins,” “The Jungle Book,” and “Chitty Chitty Bang Bang.”

The Voices Behind Disney’s Musical Magic :

Together, the Sherman Brothers won two Academy Awards for the 1964 classic “Mary Poppins” – best score and best song for “Chim Chim Cher-ee.” They also received a Grammy for best movie or TV score. Their partnership with Disney spanned over a decade, during which they wrote more than 150 songs, including the iconic “It’s a Small World (After All).”

A Legacy of Joy and Imagination :

The Walt Disney Co. paid tribute to Sherman, stating, “Generations of moviegoers and theme park guests have been introduced to the world of Disney through the Sherman brothers’ magnificent and timeless songs.” Their songs were not only catchy and playful but also worked on multiple levels, appealing to audiences of all ages – a skill they learned from Walt Disney himself.

A Lifetime of Musical Collaboration :

Richard and Robert Sherman began their partnership with Disney in the 1960s, having previously written hit pop songs like “Tall Paul” and “You’re Sixteen.” Their repertoire also included Broadway musicals such as “Over Here!” and stagings of “Mary Poppins” and “Chitty Chitty Bang Bang” in the mid-2000s.

A Celebration of Wordsmithing :

The brothers credited their father, composer Al Sherman, for their love of wordsmithing and songwriting. Their legacy includes popularizing terms like “fantasmagorical” and “supercalifragilisticexpialidocious.” They often teased songs out of each other, brainstorming titles and trying to top each other with improvements.

A Lasting Legacy :

Richard Sherman is survived by his wife, Elizabeth, two children, Gregory and Victoria, and a daughter, Lynda, from a previous marriage. A private funeral will be held on Friday, with a public celebration of life service to be announced later by Disney.

Though the brothers were estranged for a period, they largely avoided sibling rivalry, with Richard Sherman reflecting on their partnership with humor and wisdom – much like the trunkful of songs they wrote together. The passing of Richard M. Sherman marks the end of an era, but his musical legacy will continue to bring joy and imagination to generations to come.

Correct Answer :   Krishna-Godavari

---

The Krishna-Godavari delta region holds a historical significance as the Rice Bowl of India. Located in Andhra Pradesh, this region boasts fertile lands nurtured by the Krishna and Godavari rivers. With its favorable climatic conditions and rich soil, it has been a key contributor to India’s rice production for centuries, sustaining local livelihoods and serving as a cornerstone of the nation’s agricultural heritage.

Rice Production in India :

Rice is a staple food in India, especially in the eastern and southern regions. It is a tropical crop requiring a hot and humid climate, which makes areas with ample water supply ideal for its cultivation. Classified as a Kharif crop, rice demands substantial water, often grown in delta regions, coastal plains, and the northeastern parts of the country. India’s agriculture sector heavily relies on rice production, making it the second-largest producer of rice globally, with nearly 120 million tons produced in the last financial year.

The Rivers that Sustain Rice Production in India :

The Godavari, Krishna, Penna, and Tungabhadra rivers are among India’s most significant water sources and play a crucial role in sustaining the agricultural landscape of Andhra Pradesh. These rivers provide the necessary water for extensive irrigation systems, which in turn support the state’s large-scale rice farming.

States which Known as “The Rice Bowl of India”?

* Andhra Pradesh : Andhra Pradesh is famously known as the “Rice Bowl of India.” This title is attributed to its significant rice production, which constitutes up to 77 percent of the state’s total crop yield. The abundance of water from major rivers such as the Godavari, Krishna, Penna, and Tungabhadra ensures ample irrigation, making rice cultivation highly productive in this region.

* Chhattisgarh : Chhattisgarh is also sometimes referred to as the “Rice Bowl of India.” This designation is traditionally associated with the fertile delta region formed by the Krishna and Godavari rivers. Chhattisgarh’s own extensive rice cultivation contributes significantly to its recognition as a major rice-producing state in the country.

Rice Bowl of Andhra Pradesh :

Within Andhra Pradesh, the East Godavari district holds the specific title of the “rice bowl of India.” This district is particularly renowned for its prolific rice production, benefiting from the rich alluvial soil and consistent water supply from the Godavari river. The intensive rice farming practices in this district underscore its vital role in the state’s agricultural output.

Correct Answer :   Chennai

---

Reliance Industries is set to begin construction on India’s first Multimodal Logistics Park at Mappedu near Chennai in June 2024, a project conceptualized 12 years ago. Despite initial setbacks, the project, valued at Rs 1,424 crore and spanning 184.27 acres in Tiruvallur district, is now ready to proceed, with potential to revolutionize the southern region’s logistics landscape.

Project Overview :

Reliance Industries secured the bid for the Multimodal Logistics Park in 2022, surpassing the Adani Group. The park aims to deliver efficient, cost-effective logistics services including cargo aggregation, distribution, intermodal transfer, sorting, and repacking. Initial delays were due to connectivity issues and poor private sector response.

Strategic Location :

The park is strategically located 52 km from Chennai Port, 80 km from Ennore Port, and 87 km from Kattupalli Port, poised to become a central logistics hub in southern India. It is estimated to handle approximately 7.17 million tonnes of cargo over 45 years, serving secondary market clusters in Ranipet, Ambur, Tirupur, and Bengaluru.

Connectivity and Industrial Impact :

Key to the project’s success is ensuring rail connectivity from Mappedu to the ports. It is also situated near the Sriperumbudur-Oragadam industrial belt and the Chennai Peripheral Ring Road, close to significant automobile and electronics manufacturing clusters.

Government and Developmental Support :

A Memorandum of Understanding was signed in October 2021 among Tamil Nadu Industrial Development Corporation, National Highways Logistics Management Limited, and Chennai Port Trust. Prime Minister Narendra Modi laid the foundation stone on May 26, 2022, highlighting the project’s national significance.

Future Prospects :

The Multimodal Logistics Park is expected to transform logistics services in southern India, contributing to various industries like leather, heavy machinery, automobiles, cement, sugar, and chemicals. Construction starting in June marks a significant milestone in enhancing the region’s logistics infrastructure.

Correct Answer :   28 May

---

On May 28th, the world unites for World Hunger Day, a day dedicated to raising awareness about the urgent issue of global hunger. It’s time to acknowledge the millions suffering from malnutrition and the need for sustainable solutions to end hunger for good.

The History of World Hunger Day :

In 2011, The Hunger Project, a global organization dedicated to ending hunger and poverty, established World Hunger Day as a yearly event. This day serves as a platform to advocate for sustainable solutions that address the root causes of hunger, promote food security, and empower communities.

Theme for 2024: “Thriving Mothers, Thriving World” :

The theme for World Hunger Day 2024 is “Thriving Mothers, Thriving World.” This theme underscores the critical role that women play in ensuring food security for their families and communities. According to the UN, over 1 billion women and adolescent girls experience malnutrition, a condition with devastating consequences for both mothers and their children.

Investing in Women’s Empowerment :

By investing in women’s health, education, and economic opportunities, we can break the cycle of hunger and create a future where all can thrive. Empowering women is a key step towards achieving food security and ending global hunger.

A Call to Action for All :

World Hunger Day is a call to action for everyone. We can all play a part in ending hunger by supporting organizations working on the ground, advocating for policies that promote food security, and making informed choices about the food we consume. Together, we can build a world where everyone has access to the nutritious food they need to live healthy and fulfilling lives.

Sustainable Solutions to End Hunger :

To tackle the issue of global hunger, we must adopt sustainable solutions that address the root causes and create lasting change. Here are some key approaches:

* Agricultural Development : Supporting small-scale farmers with resources and training can boost food production and promote sustainable agriculture practices.

* Education : Ensuring access to quality education is crucial to breaking the cycle of poverty and hunger.

* Healthcare : Improving healthcare services can reduce hunger-related illnesses and malnutrition, particularly among vulnerable populations.

* Economic Empowerment : Creating job opportunities and supporting entrepreneurship in impoverished regions can help families and communities achieve food security and financial stability.

By working together and implementing these sustainable solutions, we can create a world where hunger is a thing of the past, and everyone has the opportunity to thrive.

Correct Answer :   Dr. Sameer V Kamat

---

The tenure of Defence Research and Development Organisation (DRDO) chairman Dr Samir V Kamat was on Monday (27th May 2024) extended for another year by the Centre.

As per a government order, Dr Kamat will continue in his present position as the DRDO chief till May 31, 2025.

He was appointed to the highest post in the DRDO in August 2022 and was slated to retire on May 31, 2024.

The incumbent DRDO chief is seen as a reformer in his organisation and would be in charge of carrying out the reforms planned by the government for making the organisation more result-oriented and focusing on core science and technology areas.

Dr Kamat completed his B.Tech (Hons) in Metallurgical Engineering from IIT-Kharagpur in 1985 and PhD in Materials Science and Engineering from The Ohio State University, USA in 1988 and joined DRDO in 1989.

Dr Kamat is credited with providing leadership and direction to several critical material programmes in the DRDO such as the development of high strength steels for naval ship hulls, development of high temperature titanium alloys and nickel-based, superalloy-based components for aero engines, development of tungsten heavy alloys for kinetic energy penetrators, development of fused silica radomes for missile seekers, development of armour solutions for personnel as well as combat vehicles and stealth materials for airborne and naval applications.

These have found use in various systems being developed by DRDO laboratories.

In addition, Dr Samir V Kamat has spearheaded the development of naval systems such as advanced light weight torpedo, anti-torpedo decoy systems, autonomous underwater vehicles, advanced hull mounted and towed array sonars for ships and fuel cells based air independent propulsion systems for submarines.

Dr Kamat is a Fellow of the Indian National Academy of Engineering (INAE) and the Institution of Engineers India (IEI).

He is a recipient of Distinguished Alumni Award from IIT-Kharagpur, Metallurgist of the Year Award from Ministry of Steel and Scientist of the Year Award from DRDO.

Dr Samir V Kamat has published more than 180 papers in International peer-reviewed journals...

Source : India Today