Current Affairs Quiz - May, 2024

Notes:
The National Bank for Agriculture and Rural Development (NABARD) recently sanctioned a study on the impact evaluation of Geographical Indication (GI) products to Symbiosis School of Economics. A GI is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. The protection of intellectual property through laws will help to reap benefits in terms of economic growth, employment and income generation.

Notes:
Scientists continue to explore Mexico’s Taam Ja’ Blue Hole in Chetumal Bay, hinting at a connection to a complex network of underwater caves. Blue holes, like Taam Ja’, are sinkholes formed by the dissolution of soluble rock, such as limestone. Taam Ja’ is the world’s deepest known underwater sinkhole, plunging at least 1,380 feet below sea level. It surpasses the previous record holder, the Sansha Yongle Blue Hole, by 390 feet.

Notes:
India and Croatia convened their 11th Foreign Office Consultations in New Delhi. Discussions encompassed regional and global concerns, emphasizing bilateral relations’ enhancement in trade, defense, science, tourism, and culture. Cultural and people-to-people exchanges were underscored. Indian Secretary Pavan Kapoor and Croatian Director General Dr. Petar Mihatov led the respective delegations. They also deliberated on international cooperation, emphasizing the India-EU Free Trade Agreement’s timely conclusion.

Notes:
Vinay Vir, the esteemed journalist, publisher, and editor of Daily Hindi Milap, known for championing Hindi in the South, passed away at 72. His impactful management and editing elevated Hindi’s presence. Born into a family of freedom fighters, Vinay Vir was a dedicated advocate for Hindi’s growth. Secretary of the Yudhvir Foundation, he honored achievers. His legacy remains intertwined with the advancement of Hindi and the recognition of talent.

Notes:
In West Bengal, Swarna Chitrakar is a revered figure among the village’s patuas (scroll painters). The Prime Minister recently lauded Odisha’s Bhagyashree Sahu, another pattachitra artist, on his show Mann ki Baat. Pattachitra, a traditional cloth-based scroll painting, originates from Odisha and West Bengal, dating back to the 12th century. Patuas depict daily life scenes, accompanied by songs. Pattachitra serves ritual and souvenir purposes in Odisha, forming a key part of Bengali narrative art.

Notes:
Zimbabwe introduces the ZiG currency, aiming to stabilize its economy. The ZiG, backed by gold reserves, replaces the depreciated Zimbabwe dollar. Initially launched electronically, physical banknotes and coins are now in circulation. Despite efforts to restore faith, skepticism persists, with some government departments refusing to accept the new currency. This move reflects ongoing struggles to address Zimbabwe’s enduring economic challenges.

Notes:
Recently, an Indian Air Force (IAF) helicopter collected water from Bhimtal Lake in Nainital, Uttarakhand to help control a nearby forest fire.The Indian Army and the IAF were called in to help control the blaze, with MI-17 choppers lifting water from the lake for firefighting efforts. Bhimtal Lake, Uttarakhand’s largest lake in the Nainital district, is a centerpiece of the Kumaon region, dubbed India’s “lake district.” Named after the Mahabharata’s Bhima, it formed naturally due to Earth’s crust shifts. Constructed in 1883 during the British era, it features a masonry dam.

Notes:
Air Marshal Nagesh Kapoor took charge as Air Officer Commanding-in-Chief (AOC-in-C) Training Command on May 1, 2024. Commissioned in 1986, he’s a veteran with over 3400 flying hours and notable stints as Commanding Officer and Station Commander. His roles include Chief Instructor at Air Force Academy, Defence Attaché in Pakistan, and staff positions in strategy and air defense. Prior to TC, he was Air Officer-in-Charge Personnel at Air HQ.

Notes:
SEBI approved changes in mutual fund regulations to combat front-running in Indian asset management companies (AMCs). Front-running, or trading with non-public information ahead of significant transactions, is illegal in India and can impact asset prices. It occurs in various financial markets like stocks and commodities. Common strategies include Buy-Buy-Sell (BBS) and Sell-Sell-Buy (SSB) patterns. These regulatory changes aim to safeguard market integrity and investor interests.

Notes:
Kerala’s health department confirms five West Nile fever cases in Kozhikode, Malappuram, and Thrissur districts. Health Minister Veena George orders increased mosquito control measures. Four patients have recovered; one remains under observation. Kerala recorded its first West Nile case in 2011 and first death in 2022. The virus, traced back to Uganda in 1937, primarily infects birds and spreads via migratory birds. It’s a flavivirus, with global cases from Africa to the Americas. West Nile Fever, caused by the West Nile Virus (WNV), is a flavivirus commonly found in Africa, Europe, and the Americas. It primarily spreads through infected mosquitoes biting birds and occasionally humans.