Current Affairs Quiz - May, 2024

Notes:
The Department of Public Enterprises has bestowed Navratna status upon the Indian Renewable Energy Development Agency Limited (IREDA). Established in 1987 under the Ministry of New and Renewable Energy, IREDA functions as a Non-Banking Financial Institution. The Navratna status is awarded based on specific criteria including consistent high performance, such as achieving ‘excellent’ or ‘very good’ ratings in MoUs for three out of the last five years and a composite score of 60 or above in selected performance indicators.

Notes:
The UN has formed a panel to address critical energy transition minerals, primarily sourced from underdeveloped nations like those in Africa. This initiative aims to curb resource nationalism and environmental damage caused by high demand for these minerals. The panel’s goal is to establish global principles for a smoother transition to renewable energies, aligned with sustainable development goals and climate agreements. It emphasizes equitable benefits for communities and environmental protection.

Notes:
Invest India projects India’s e-commerce to reach 325 billion by 2030, driven by 500 million consumers and widespread internet access. It anticipates India becoming the 3rd largest online retail market by 2030. The agency, under the Ministry of Commerce and Industry, revealed in 2022, e-commerce was worth 70 billion, constituting 7% of retail.

Notes:
Hindu devotees gather in Hinglaj, Lasbela district, Pakistan, for an annual festival at the ancient cave temple of Hinglaj Mata. The pilgrimage begins with a trek to steep mud volcanoes, where pilgrims climb stairs and rocks to reach the summit. Tossing coconuts and rose petals into the crater, they seek divine permission to visit the temple. Dedicated to Goddess Hinglaj, it’s one of the oldest temples in the Indian subcontinent. Located near the Hingol River, in Balochistan, Pakistan, the temple complex features shrines, caves, and sacred natural formations.

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:
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:
The Sri Madhava Perumal Temple reveals a historic trade route from over 1,000 years ago. Submerged in the Bhavanisagar dam, lowered water levels now unveil the temple in Erode district, Tamil Nadu. Hoysala King Veera Ballala III appointed Madhava Perumal Dhandanayaka to govern, who constructed the Dhandanayaka Fort 680 years ago. His son, Veera Siddha Keththaya Dhandanayaka, built the temple within. Later ruled by Vijayanagara Empire, Ummattur chiefs, and Tipu Sultan, the fort witnessed the Battle of Sathyamangalam in 1790.

Notes:
The Comptroller and Auditor General of India (CAG), Girish Chandra Murmu, signed an MoU with Nepal’s Auditor General, Toyam Raya, in Kathmandu. The MoU aims to enhance cooperation between the auditing institutions of both countries, facilitating the exchange of expertise and professional capacity-building in public sector auditing. During his visit, Murmu met Nepal’s Prime Minister and Finance Minister, along with discussions on mutual cooperation in public sector audit with the Chairman of Nepal’s Public Accounts Committee.

Notes:
The ICC has banned West Indies cricketer Devon Thomas for five years due to breaching anti-corruption codes of SLC, ECB, and CPL. The ban was imposed by the ICC as the designated Anti-Corruption Official. Thomas accepted the charges, leading to the sanction without a tribunal hearing. The ban includes a suspension of the last 18 months. Thomas admitted to violating several provisions of the codes.

Notes:
Recent research on Paliyar Tribals in Kodaikanal and Theni areas urges immediate government action for their upliftment. Derived from “Palaniyan” in Tamil, they’re also known as Paliyans, Pazhaiyarares, and Panaiyars. Distributed in Tamil Nadu districts, they speak Tamil and traditionally hunted and gathered. They worship Vanadevadai and Karuppan. They bury their dead on the western side of their residential area, avoiding cremation.