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:
Humza Yousaf resigned as Scotland’s first minister and leader of the Scottish National Party (SNP) after 13 months in office, amidst political turmoil. His leadership faced criticism following the SNP’s failed coalition with the Scottish Greens, leading to upcoming no-confidence motions.

Notes:
Rajasthan introduced a digital water distribution system for agriculture, employing “Barabandi,” a fixed turn method for canal water distribution. The new online “barabandi” system, developed by NIC Jaipur, allows scheduled irrigation supply accessible remotely. Farmers can track water flow to their fields, reducing manual errors. This innovation aims to optimize water usage and enhance agricultural efficiency in Rajasthan.

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:
Recent lava from La Cumbre volcano on Fernandina Island, Galápagos, devastates the habitat of rare land iguanas. Positioned atop the mantle plume generating Galápagos, it erupted for the first time since 2020. The island, 1,125 km off Ecuador’s mainland, boasts a large caldera hosting a permanent lake, attracting diverse wildlife, including tens of thousands of Galápagos land iguanas nesting within it.

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:
World Tuna Day, celebrated annually on May 2nd, highlights the decline in global tuna stocks and the necessity of enforcing international regulations for their preservation. Tuna, vital for both developed and developing nations, faces threats from overfishing. The day emphasizes sustainable fishing practices, reducing bycatch, and promoting international cooperation to ensure future tuna supplies. It serves as a crucial reminder of the urgent need to address the challenges confronting the tuna industry globally.

Notes:
The Uttarakhand Tourism Development Board and Starscapes have collaborated to introduce Nakshatra Sabha, an Astro Tourism venture. Beyond star-gazing, it offers solar observations, astrophotography contests, and camping. Aimed at astronomy enthusiasts and adventurers, it aims to merge cosmic wonders with Uttarakhand’s natural beauty, fostering an engaging platform for travelers.

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:
Adani Green Energy Ltd (AGEL), India’s top renewable energy firm, secured USD 400 million in funding from five international banks for its 750 MW solar projects in Rajasthan and Gujarat. These projects are scheduled to start operating from November 2024. The Rajasthan project, with 500 MW capacity, has a long-term power purchase agreement (PPA) with SECI, while the Gujarat project, with 250 MW capacity, is a standalone merchant power project in Khavda, the world’s largest RE cluster.