Correct Answer : Option (C) - Namibia

---

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Thursday (2nd May 2024) entered into an agreement with the Bank of Namibia (BoN) for developing an instant payment system like Unified Payment Interface (UPI) for the African nation.

This partnership marks NPCI’s first-ever collaboration with a central bank to deploy the UPI stack in an international market.

The collaboration is aimed at developing real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in Namibia.

“Through this collaboration, BoN will gain access to best-in-class technology and insights from NIPL, enabling the creation of a similar platform in Namibia for the digital welfare of its citizens,” NIPL said in a release.

The agreement aims at improving accessibility, affordability, connectivity with both domestic and international payment networks, and interoperability of payments.

“By enabling this technology, the country will gain sovereignty in the digital payments landscape and stand to benefit from enhanced payment interoperability and improved financial access for underserved populations. This will also ensure scalability and adaptability to embrace future technological advancements and market demands, thereby propelling economic prosperity in the region,” said Ritesh Shukla, chief executive officer (CEO), NPCI International.

Correct Answer : Option (A) - Zimbabwe

---

Zimbabwe on Tuesday (30th April 2024) started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins.

It’s the southern African country’s latest attempt to halt a long-running currency crisis underlining its persistent economic troubles. The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency.

Since it was launched electronically on 5th April 2024, the ZiG — short for Zimbabwe Gold and backed by the country’s gold reserves — appears to be heading down the same path of mistrust, with some government departments refusing to accept it.

The ZiG is the sixth currency Zimbabwe has used since the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes to date. That set off a chaotic series of events: first the U.S. dollar was allowed as legal tender, then banned, then unbanned.

Correct Answer : Option (C) - May 3rd

---

On May 3rd, the global community will come together to observe World Press Freedom Day, a significant event that honours the fundamental principles of press freedom and the vital role journalists play in informing and enlightening the public.

Date and Theme

* This year, World Press Freedom Day falls on a Friday (3rd May 2024), and the theme for 2024 is “A Press for the Planet: Journalism in the Face of the Environmental Crisis.” The theme highlights the crucial role of journalism and freedom of expression in addressing the global environmental crisis and driving meaningful action on pressing environmental issues.

Origin and Significance

* World Press Freedom Day was first proclaimed by the United Nations General Assembly in December 1993, following a recommendation from UNESCO’s General Conference. It marks the anniversary of the Declaration of Windhoek, which has become a global observance of press freedom.

* The day serves as a reminder of the importance of press freedom, ensuring public access to information and government respect for freedom of expression. It raises awareness of the challenges faced by journalists globally, such as threats, violence, and censorship.