May - 2024 Current Affairs

Correct Answer :   Tata Motors

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Tata Motors’ subsidiaries, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), have teamed up with Bajaj Finance to offer an innovative financing programme for their authorised passenger and electric vehicle dealers. This partnership aims to streamline financing options and support the business operations of these dealers.

Market Impact and Sales Growth :

TMPV and TPEM continue to lead the Indian automotive market with their pioneering efforts in both the Internal Combustion Engine (ICE) and Electric Vehicle (EV) segments. Tata Motors reported an 11.5% year-on-year increase in total wholesales last month, with 77,521 units sold compared to 69,599 units in April 2023.

Total passenger vehicle sales saw a 2% rise to 47,983 units from 47,107 units in April 2023. TPEM, which boasts a robust EV portfolio including the Nexon EV, Tigor EV, Tiago EV, Xpres-T, and Punch EV, sold 4,701 units in April, maintaining a dominant 71.47% market share. In FY2024, the company sold 73,833 EVs, marking a 48% year-on-year growth.

Statements from Leadership :

Gupta, representing Tata Motors, emphasized the importance of dealer partners, stating, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers.”

Anup Saha, Deputy Managing Director of Bajaj Finance Ltd, highlighted the benefits of the partnership, saying, “Through this financing programme, we will arm TMPV and TPEM’s authorised passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market.”

About Bajaj Finance :

Bajaj Finance, a prominent Non-Banking Financial Company (NBFC) in India, serves over 83.64 million customers, providing a wide range of financial services and solutions.

Correct Answer :   May 20

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Every year May 20 is celebrated as World Refugee Day. This day was celebrated for the first time on 20 May 2001.

The year 2001 also marked the 50th anniversary of the 1951 Refugee Convention.

India has not signed the 1951 Refugee Convention, but has been active in UNHCR since 1981. 

Correct Answer :   21 May

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Every year, on May 21, India observes National Anti-Terrorism Day. This day is dedicated to raising awareness about the dangers of terrorism and the importance of unity in combating this global menace. It also commemorates the assassination of former Prime Minister Rajiv Gandhi, who was killed by a suicide bomber on this day in 1991.

The observance of this day serves as a solemn reminder of the need for vigilance and the collective responsibility to eradicate terrorism in all its forms.

National Anti-Terrorism Day History :

* National Anti-Terrorism Day was first observed in 1992, a year after the assassination of Rajiv Gandhi. Gandhi, the youngest Prime Minister of India at 40, was a prominent advocate for peace and modernisation. His assassination by the Liberation Tigers of Tamil Eelam (LTTE) was a stark reminder of the devastating impact of terrorism on society.

* The suicide bombing assassination occurred during an election rally in Sriperumbudur, Tamil Nadu. The LTTE orchestrated this attack in retaliation for Gandhi's decision to deploy the Indian Peacekeeping Force (IPKF) to Sri Lanka in 1987. The IPKF was intended to enforce a peace accord between the Sri Lankan government and the LTTE, but it ultimately led to prolonged conflict and significant casualties.

* In the wake of his death, the Indian government established National Anti-Terrorism Day to honour his legacy and to promote awareness about the severe consequences of terrorist activities.

National Anti-Terrorism Day Significance :

* The National Anti-Terrorism Day serves as a platform to educate the public about the various forms of terrorism and their far-reaching impacts on human lives, economic stability, and social harmony.

* The day is marked by a range of activities, including debates, discussions, and educational programs in schools and colleges. These initiatives aim to instill a sense of responsibility among the younger generation to contribute to the fight against terrorism.

* Furthermore, government officials, security forces, and civil society organisations participate in various events to reinforce the importance of unity and resilience. The observance of this day also involves the administration of a pledge, wherein individuals commit to oppose all forms of terrorism and violence.

* This pledge is a reaffirmation of the collective resolve to safeguard the nation from terrorist threats..

Source : Money Control

Correct Answer :   May 21

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The world celebrates International Tea Day on May 21st, a day designated by the United Nations to highlight the cultural and economic significance of tea. Tea, the world's most consumed beverage after water, boasts a long and rich history, with evidence of its consumption in China dating back 5,000 years.

Beyond its delicious taste, tea offers a range of health benefits due to its anti-inflammatory and antioxidant properties. The tea industry is a crucial source of income and jobs, particularly in developing countries, where millions of families rely on tea production for their livelihood. This year's International Tea Day specifically honours the role women play throughout the tea production chain, "from crop to cup."

The UN emphasises the importance of sustainable tea production for the benefit of future generations. This focus extends to environmental concerns, as tea production is sensitive to climate change. The UN urges tea-producing countries to develop strategies that address both adaptation to and mitigation of climate change's impact.

Beyond a beverage, a balm for the soul :

For tea enthusiasts, this simple cup of brewed leaves transcends a mere drink. It's a steaming hug in a mug-a comforting ritual steeped in tradition. Tea can be a trusted companion, offering solace for a broken heart or a weary mind. Its diverse flavours and aromas can transport you to faraway lands or evoke cherished memories.

A cultural cornerstone :

Tea ceremonies in Japan are steeped in mindfulness and tranquilly, while sharing a cup of chai in India fosters connection and community. From afternoon tea in England to Moroccan mint tea, the way tea is prepared and consumed varies greatly around the world, yet it universally holds a special place in many cultures.

Tea outlook for 2027 :

Looking ahead, the UN report "Current Market Situation and Medium-Term Outlook" predicts that global tea consumption and production are projected to keep rising over the next decade, driven by robust demand in developing and emerging countries. This will create new rural income opportunities and improve food security in tea-producing countries.

Correct Answer :   UNDP

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The Department of Animal Husbandry & Dairying (DAHD), Ministry of Fisheries, Animal Husbandry & Dairying signed a Memorandum of Understanding (MoU) today (20th May 2024) with the United Nations Development Programme (UNDP) India on Digitalization of Vaccine Cold Chain Management, Capacity Building, and Communication Planning.

The MOU was signed today at “We the People Hall”, UNDP Country office, Lodhi Estate, New Delhi between Smt. Alka Upadhyay, Secretary, Department of Animal Husbandry & Dairying and Ms. Caitlin Wiesen. UNDP Resident Representative in India. This strategic partnership aims to enhance the digitalization of vaccine cold chain management, capacity building, and communication planning in India.

Addressing the Meeting Smt. Alka Upadhyay highlighted Strong and efficient supply chains equipped with reliable cold chain equipment are vital to increase immunization coverage and outreach.  She added, Considering the large human population and livestock population in India with 142.86 Crore people, 53.57 Crore farm animals and 85.18 Crore poultry population, catering all the veterinary services to the doorstep of farmers and to ensure the nutritional security of the large population is a challenge.

She further explained “With digitalization of the entire vaccine stock management system and providing real-time information on vaccine stocks and flows, and storage temperatures, the inequities in vaccine supply will be addressed by managing constraints of infrastructure, management information systems, and human resources. The vaccine cold chain management process, she added will be monitored with the help of new age technology and artificial intelligence through the Animal vaccine Intelligence Network (AVIN) developed by UNDP.

UNDP Resident Representative Ms. Caitlin Wiesen, while signing the MoU, said that “Amid confluence of frequent zoonotic disease outbreak and climate change, animals and the communities engaged in rearing them are increasingly vulnerable. She added that through this partnership with the Department of Animal Husbandry and Dairying, UNDP will support and strengthen India’s first animal vaccine supply chain management system ensuring communities and animals are protected and further mitigating the risks at the human-animal-environment interface.”

Smt Sarita Chauhan, Joint Secretary (LH), DAHD while explaining  the objectives of collaboration mentioned that, the essential but arduous work of real time monitoring of the vast cold chain infrastructure available across the country will be possible with the help of new age technology and artificial intelligence through the cold chain monitoring system developed by UNDP, which will support the Department to manage and deliver vaccines across the country in the right quantity, right quality, at the right time and right temperature with supportive supervision..

Source : PIB

Correct Answer :   Florida

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Florida is known as "The Sunshine State" due to its abundant sunshine and pleasant climate.

The United States is known for its diverse range of state nicknames, each reflecting unique aspects of its culture, geography, or history. One such moniker is “The Sunshine State,” bestowed upon Florida for its abundant sunshine and pleasant climate. Let’s delve into the origins, significance, and usage of this iconic nickname.

Which State of United States is Known as “The Sunshine State”?

Florida is known as “The Sunshine State” due to its abundant sunshine and pleasant climate. This nickname was officially adopted by the 1970 Legislature, reflecting the state’s reputation for sunny weather throughout the year. With its subtropical and tropical climate, Florida enjoys ample sunlight, making it a favored destination for tourists seeking sunny skies and outdoor activities.

Why is Florida Known as “The Sunshine State”?

Florida earned the moniker “Sunshine State” due to its abundant sunshine and favorable climate. With its subtropical and tropical climate, the state experiences sunny weather throughout the year, attracting tourists and residents alike. The nickname was officially adopted by the 1970 Legislature, highlighting Florida’s reputation for sunshine and warmth. Its flat terrain, low elevation, and geographical location further contribute to its exposure to sunlight, making it a favored destination for outdoor enthusiasts and sun-seekers.

Geographical and Climatic Features of Florida :

Florida’s geographical location, extending into the southeastern United States and bordered by the Atlantic Ocean and the Gulf of Mexico, contributes to its sunny climate. The state’s flat terrain and low elevation further enhance its exposure to sunlight, earning it the distinction of being “The Sunshine State.”

Tourism and Outdoor Recreation :

The abundance of sunshine in Florida plays a pivotal role in shaping its tourism industry and outdoor recreational activities. From world-renowned beaches and theme parks to nature reserves and water sports, the state’s sunny weather attracts millions of visitors annually, seeking to bask in its warm rays and enjoy its outdoor attractions.

Correct Answer :   Gopi Thotakura

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Indian expatriate Gopi Thotakura joined the ranks of space explorers as the first Indian to embark on a journey beyond Earth’s atmosphere. The NS-25 mission, part of Jeff Bezos’s Blue Origin program, saw Thotakura and five other crew members lift off aboard the New Shepard spacecraft from a private ranch in West Texas.

Among the crew was also Ed Dwight, marking the first time a Black astronaut ventured into space. This mission marked the program’s return to space tourism after a two-year hiatus following a rocket mishap. Thotakura’s inclusion in the crew highlights the growing diversity and global participation in space exploration.

Members of New Shepard (Mission NS-25)

* Gopichand Thotakura : An entrepreneur and pilot of Indian origin, Thotakura secured his place among the six crew members for the NS-25 mission.
* Ed Dwight : A former Air Force aviator, Dwight’s journey to space comes decades after facing rejection from NASA’s astronaut corps. At 90 years old, he sets a record as the oldest person in space.
* Mason Angel : Founder of Industrious Ventures, Angel brings entrepreneurial expertise to the crew.
* Sylvain Chiron : Renowned for spearheading Brasserie Mont Blanc, Chiron represents France in the crew.
* Kenneth L. Hess : A software engineer and entrepreneur, Hess contributes technical expertise to the mission.
* Carol Schaller : A retired Certified Public Accountant, Schaller completes the ensemble of adventurers for NS-25.

Blue Origin’s Space Tourism Endeavors :

Blue Origin’s NS-25 mission marks the seventh human flight of the program, with aspirations to expand beyond suborbital journeys. Jeff Bezos envisions these flights as a stepping stone to larger ambitions, including lunar exploration. To date, 31 individuals have experienced space travel aboard New Shepard, with notable figures like William Shatner and Michael Strahan among them. Blue Origin aims to collaborate with NASA to advance lunar exploration efforts in the future, building on the legacy of Alan Shepard and the New Shepard program.

Correct Answer :   18th May 2024

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The Indian banking industry mourns the loss of a legendary figure, N Vaghul, who passed away on Saturday (18th May 2024) in Chennai at the age of 88. Vaghul, a former chairman of ICICI Bank, left an indelible mark on the financial sector with his visionary leadership and commitment to excellence.

An Accidental Journey into Banking :

Born with aspirations of becoming a civil servant, Vaghul’s path took an unexpected turn when he was forced to wait a few years to take the coveted civil services examination. Seizing the opportunity, he joined the State Bank of India (SBI) in 1954, embarking on a remarkable journey that would shape the banking landscape.

A Trailblazer in Indian Banking :

After nearly two decades at SBI, Vaghul moved to the National Institute of Bank Management before joining the Central Bank of India as an executive director. His leadership capabilities were further recognized when he became the chairman and managing director of Bank of India. However, his most significant contribution came when he joined the erstwhile development bank ICICI Ltd in 1985.

Mentoring the Next Generation of Leaders :

During his tenure at ICICI Bank, Vaghul mentored and guided many senior executives, including K.V. Kamath, who succeeded him as chairman and continued to build upon his legacy. Vaghul’s commitment to nurturing talent and fostering leadership played a pivotal role in shaping the bank’s future success.

Recognizing Excellence: Padma Bhushan Awardee :

In recognition of his exceptional contributions to the banking industry, Vaghul was honored with the prestigious Padma Bhushan, India’s third-highest civilian award, in 2009. This accolade served as a testament to his dedication and the indelible impact he had on the financial sector.

A Life of Philanthropy and Giving :

Beyond his professional accomplishments, Vaghul was a generous philanthropist, dedicated to giving back to society. He is survived by his wife, daughter, and son, who continue to carry forward his legacy of compassion and service.

Remembering a Banking Pioneer :

As the Indian banking community mourns the loss of N Vaghul, his remarkable journey from an accidental banker to a visionary leader and philanthropist serves as an inspiration for generations to come. His unwavering commitment to excellence, mentorship, and giving back will forever be etched in the annals of the country’s financial history.

Correct Answer :   Sanjiv Puri

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Sanjiv Puri, the Chairman and Managing Director of ITC Ltd., has been elected as the President of the Confederation of Indian Industry (CII) for the term 2024-25. Puri succeeds R Dinesh, Chairman of TVS Supply Chain Solutions, in this prestigious role. Alongside Puri, Rajiv Memani assumes the position of President-Designate, while R Mukundan takes on the role of Vice President for the same term.

Sanjiv Puri: Leading the CII :

Sanjiv Puri, an alumnus of IIT Kanpur and Wharton School of Business, brings a wealth of experience to his new role, having been actively involved in various initiatives to foster growth and sustainability in India’s corporate landscape. Notably, Puri’s leadership extends beyond ITC Ltd., as he has chaired expert groups and received accolades such as the ‘Best CEO Award’ from Business Today and the ‘Transformational Leader Award’ from the Asian Centre for Corporate Governance and Sustainability.

Rajiv Memani: President-Designate :

Rajiv Memani, currently serving as the Chairman and CEO of EY India, assumes the role of President-Designate of the CII for 2024-25. With his background in consulting and extensive experience in global markets, Memani is poised to bring strategic insights and leadership to the CII, furthering its objectives in promoting business-friendly policies and fostering economic growth.

R Mukundan: Vice President :

R Mukundan, the Managing Director and CEO of Tata Chemicals Limited, takes on the role of Vice President of the CII for the term 2024-25. With a strong educational background and expertise in the chemical industry, Mukundan is well-positioned to contribute to the CII’s agenda, advocating for the interests of businesses across sectors.

About the Confederation of Indian Industry (CII) :

Established in 1895, the Confederation of Indian Industry is one of India’s oldest business lobby groups, representing the interests of various industries and advocating for favorable policies conducive to economic growth. Headquartered in New Delhi, the CII plays a pivotal role in engaging with the government and stakeholders to shape India’s business landscape.

Correct Answer :   Iran

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Once seen as a likely successor to Iran’s Supreme Leader, President Ebrahim Raisi has died in office, leaving the Islamic Republic’s hardline establishment facing an uncertain future.

An ultraconservative president, 63-year-old Raisi was killed Sunday (19th May 2024), along with Foreign Minister Hossein Amir-Abdollahian and other high-ranking officials, in a helicopter crash in Iran’s remote northwest. Their death comes at a delicate time for a country that faces unprecedented challenges at home and from abroad.

The Islamic Republic’s economy remains crippled by American sanctions, its young population is becoming growingly restive, and the country faces increasingly belligerent adversaries in the Middle East and beyond.

Raisi’s death will “trigger elections at a time when the IRI (Islamic Republic of Iran) is at the nadir of its legitimacy and zenith of its exclusionary policies,” Ali Vaez, Iran Project Director at the International Crisis Group think tank

If confirmed, Raisi's death would trigger elections at a time when the IRI is at the nadir of its legitimacy and zenith of its exclusionary policies. That means in less than 2 months, a successor may emerge who is as conservative and loyal to the system as Raisi was. 1/ pic.twitter.com/bShtZ3lucS

— Ali Vaez (@AliVaez) May 19, 2024

Source : Edition