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:
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 Controller General of Patents, Designs, and Trademarks awarded the Geographical Indication certificate to ‘Kutch Ajrakh’ artisans from Gujarat. Ajrakh, a textile craft deeply rooted in Gujarat’s culture, especially in Kutch, Sindh, and Barmer, involves intricate hand-block printing on cotton cloth. Its name derives from ‘Azrak’, meaning indigo, a key dye used. Traditionally, Ajrakh prints symbolize sky (blue), land and fire (red), and stars (white), reflecting rich symbolism and history.

Notes:
The Bombay High Court ruled that public sector banks can’t recommend Look Out Circulars (LOCs) against loan defaulters. LOCs are government directives to immigration authorities, restricting a person’s movement. They’re used by law enforcement to prevent individuals under investigation from leaving or entering the country. Typically issued by police or intelligence agencies, LOCs are a tool authorized by the Ministry of Home Affairs to detain suspects at designated ports.

Notes:
José Raúl Mulino, 64, wins Panama’s presidential election with nearly 35% of votes and a 9% lead over rivals. Outgoing president, Laurentino Cortizo, congratulates him. The election, held on May 5, 2024, saw Mulino stand in for Ricardo Martinelli, who faced legal troubles. Mulino, supported by Martinelli’s party, acknowledges his assistance. Martinelli fled after a money laundering conviction. Elections also chose parliament and local governments for the next five years.

Notes:
The ICAR-Central Marine Fisheries Research Institute (CMFRI) reports severe coral bleaching in the Lakshadweep Sea due to prolonged marine heatwaves since 2023. Rapid warming in the Indian Ocean, coupled with strong El Niños, has increased heatwave frequency, now annual in the tropical region. The western Indian Ocean saw the highest rise, with about 1.5 events per decade, followed by the north Bay of Bengal at 0.5 events per decade. In 2020, 85% of corals in the Gulf of Mannar bleached.

Notes:
During Lok Sabha elections, the Polavaram water project becomes central, featured in party manifestoes. The project, dating back to 1941, faces delays and controversies. Rehabilitation and Resettlement incomplete, project’s fate uncertain after floods damage diaphragm wall. Future steps for dam construction remain unclear. The Polavaram Water Project, also known as the Indira Sagar Project, is located in the East Godavari and West Godavari districts of Andhra Pradesh, India. The project is a multi-purpose dam on the Godavari River that provides irrigation, drinking water, and hydropower to the districts of East Godavari, Visakhapatnam, West Godavari, and Krishna.

Notes:
Columbia University announced the 2024 Pulitzer Prize winners on May 7. The prestigious award, established by Joseph Pulitzer in 1904, recognizes excellence in journalism, arts, and culture. Winners are selected by the Pulitzer Prize Board, with categories spanning journalism and arts. The ceremony, to be held later, will see recipients honored by the university president. This year’s winners join a legacy dating back to the first prize in 1917.

Notes:
India and Australia held their inaugural Joint Committee Meeting (JCM) in Canberra, Australia. Indian Commerce Secretary Shri Sunil Barthwal led the delegation, meeting with Deputy Secretary George Mina from Australia’s Department of Foreign Affairs and Trade (DFAT). Discussions encompassed implementing the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), addressing issues from market access to pharmaceutical pricing. Both nations explored mutual interests like coastal tourism and prawn disease prevention, establishing an institutional mechanism for data exchange.