Current Affairs Quiz - May, 2024

Notes:
The National Council of Applied Economic Research predicts India’s economy to surpass 7% growth this fiscal year, citing global growth, trade acceleration, and a promising monsoon. The IMF has raised India’s growth forecast for 2024-25 to 6.8%, up from 6.5%. Government data reveals a 7.6% growth in FY24.

Notes:
A study mapped Afghanistan’s five river basins, each crucial for irrigation and regional dynamics. Notably, the Harirod-Murghab, originating in central mountains, sustains fertile lands in the northwest. The Helmand Basin, covering 51%, hosts Afghanistan’s longest river, vital in the southwest. The Kabul Basin, formed by the Kabul River, dominates the southeast’s drainage, while the Northern Basin differs in its internal flow. Understanding these basins aids water management and regional stability.

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 Ministry of Mines and Shakti Sustainable Energy Foundation signed an MoU to enhance knowledge support for critical minerals crucial to India’s economic growth, national security, and low-carbon energy transition. The agreement was inked during the ‘Critical Minerals Summit’ at the India Habitat Centre, New Delhi, emphasizing the importance of beneficiation and processing capabilities.

Notes:
India has initiated Project ISHAN (Indian Single Sky Harmonized Air Traffic Management) in Nagpur, Maharashtra. The project aims to streamline air traffic management (ATM) by consolidating India’s four Flight Information Regions (FIRs) into a single system overseen from Nagpur. India’s airspace is currently divided into four FIRs and a sub-FIR at Guwahati. The FIRs are controlled by India through Delhi, Mumbai, Kolkata, and Chennai, with a sub-FIR at Guwahati. India also shares its FIRs with 12 neighboring countries.

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:
Justice (retired) Dinesh Kumar, former Chief Justice of the Karnataka High Court, has been appointed as the Presiding Officer of the Securities Appellate Tribunal (SAT), filling a 4-month vacancy left by Justice Tarun Aggarwal’s retirement in December 2023. SAT, an autonomous body under the SEBI Act, 1992, hears appeals against orders from financial regulators like SEBI, PFRDA, and IRDAI, aiming to streamline appeal processes outside of High Courts.

Notes:
NPCI’s overseas arm signed a pact with the Bank of Namibia to develop a UPI-like instant payment system for Namibia, leveraging India’s UPI technology and experiences. The collaboration aims to modernize Namibia’s financial ecosystem, enhancing accessibility, affordability, and connectivity with domestic and international payment networks. It also emphasizes interoperability, signaling a significant step towards improving financial inclusion and digital transactions in Namibia.

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:
National Anti-Doping Agency (NADA) India recently concluded up its #PlayTrue Campaign, drawing over 12,133 participants nationwide. Held from April 15th to 30th, 2024, the campaign aimed to raise awareness about clean sports and anti-doping practices. It showcased NADA’s dedication to educating athletes, coaches, and sports enthusiasts on anti-doping regulations. Through various activities like quizzes and awareness sessions, NADA encouraged fair play and integrity in sports, aligning with World Anti-Doping Agency (WADA’s) vision.