Current Affairs Quiz - May, 2024

Notes:
The Financial Intelligence Unit (FIU), established in 2004 under the Ministry of Finance recently issued alert indicators under the Prevention of Money Laundering Act (PMLA) for various sectors, including capital markets, insurance, online payment gateways, and cryptocurrency services. It analyzes suspicious financial transactions to combat money laundering and terrorism financing. Organizations like banks, stockbrokers, and insurance companies are mandated to register with FIU-IND as reporting entities under PMLA.

Notes:
The Reserve Bank of India (RBI) launched the ‘Inflation Expectations Survey of Households’ and ‘Consumer Confidence Survey’ to inform its bi-monthly monetary policy decisions. The former gathers subjective assessments on price movements from 19 cities, collecting both qualitative and quantitative data on inflation expectations. The latter seeks qualitative responses on economic conditions, employment, prices, income, and spending, also spanning 19 cities. These surveys aim to provide crucial insights for RBI’s policy formulation.

Notes:
The launch of the ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 20 (Yard 130)’, 6th Barge of the 11 x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Pvt Ltd, Thane for Indian Navy, occurred on 29 Apr 24. The contract was signed on 05 Mar 21. These Barges, designed and built indigenously, enhance operational capabilities by facilitating transportation and embarkation of ammunition. They are a part of the Make in India initiative.

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:
India will host the 46th Antarctic Treaty Consultative Meeting (ATCM 46) and the 26th Meeting of the Committee for Environmental Protection (CEP 26) in Kochi, Kerala, from May 20 to 30. Organized by the Ministry of Earth Sciences (MoES) through the National Centre for Polar and Ocean Research (NCPOR), these meetings aim to foster global discussions on Antarctica’s environmental conservation and scientific collaboration. India, a Consultative Party since 1983, operates two research stations and enacted the Antarctic Act in 2022.

Notes:
Uttarakhand government suspends Patanjali Ayurved’s manufacturing licenses for 14 products over misleading ads. The company faces scrutiny for non-compliance with advertising regulations. The move, issued on April 24 by the state’s drug regulator, cites Patanjali’s persistent dissemination of deceptive efficacy claims. This action reflects the government’s commitment to enforce truthful advertising standards and holds implications for Ramdev’s legal battles.

Notes:
The Pension Department has launched an online portal called Bhavishya for tracking pension payments and sanctions for government retirees. The portal is integrated with the pension processing and payment services of five banks, including State Bank of India, Bank of Baroda, Punjab National Bank, and Canara Bank.

Notes:
Russia’s government released new footage allegedly targeting two Ukrainian High Mobility Artillery Rocket Systems (HIMARS) following increased US military aid to Ukraine. HIMARS was developed in the late 1990s for the United States Army by Lockheed Martin Corporation, a US-based aerospace and Security Company. The M142 HIMARS is a light, multiple rocket launcher that’s mounted on a standard U.S. Army Family of Medium Tactical Vehicles (FMTV) M1140 truck frame. It’s designed to engage and defeat targets such as artillery, light armor, air defense concentrations, personnel carriers, and trucks.

Notes:
RailTel Corporation of India has partnered with a tech firm to implement KAVACH, an indigenous Automatic Train Protection System, in India and abroad. Developed by RDSO in collaboration with the Indian industry, KAVACH operates at Safety Integrity Level – 4 with a remarkably low error probability. Its features include centralized train movement monitoring, automatic overspeed prevention, and SOS message relaying.

Notes:
Nepal introduced a new Rs 100 currency note featuring disputed Indian territories—Lipulekh, Limpiyadhura, and Kalapani—triggering contention from India. Prime Minister Prachanda chaired a meeting where the decision was made. Rekha Sharma, also the communication minister, announced the update following Nepal Rastra Bank’s proposal. The move follows tensions since Nepal’s 2020 political map included these areas. India had included them in its 2019 map, leading to diplomatic strains, notably over a road construction.