Current Affairs Quiz - May, 2024

Notes:
Krishna M Ella, co-founder of Bharat Biotech, now heads the Indian Vaccine Manufacturers Association (IVMA) for 2024-2026. He succeeds Adar C Poonawalla, CEO of Serum Institute of India (SII). Ella aims to enhance collaboration among vaccine manufacturers, researchers, and policymakers to expedite vaccine development and bolster production. IVMA also prioritizes enabling access to affordable vaccines in developing nations. SII, under Poonawalla, pioneered the Covishield vaccine during the Covid-19 pandemic.

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:
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 International Monetary Fund (IMF) approved a $1.1 billion disbursement to Pakistan under the Stand-By Arrangement (SBA), aimed at addressing balance of payments issues. SBAs offer short-term financial aid to member countries, commonly used by both advanced and emerging economies. Eligibility extends to nations with external financing needs. Funding is contingent on policy reforms, including quantitative targets and structural measures. Loan duration ranges from 12 to 36 months.

Notes:
The United States has rejected nearly one-third of shipments from Mahashian Di Hatti Pvt Ltd (MDH) since October 2023 due to salmonella contamination. Salmonella, a bacteria found in animals’ intestines and feces, causes gastrointestinal illness. It spreads to humans through contact with contaminated items or animals. Salmonella can survive for weeks in dry environments and months in water. Symptoms include diarrhea, fever, and stomach cramps, with severe cases requiring medical attention.

Notes:
NHPC Limited, India’s premier hydropower developer, has inked a Memorandum of Understanding with Ocean Sun, a Norwegian tech firm specializing in floating solar solutions. The agreement aims to explore joint ventures in deploying Ocean Sun’s innovative floating solar technology, utilizing hydro-elastic membranes. NHPC’s commitment to sustainable development and renewable energy expansion is reinforced through this partnership, aligning with its portfolio diversification into solar, wind, and green hydrogen projects.

Notes:
Sri Lanka’s Cabinet approves renovation of Kankesanthurai Port, funded entirely by India. The port, located in the Northern Province, spans about 16 acres and is 104 km from Karaikal Port in Puducherry, India. The decision underscores efforts to enhance connectivity and infrastructure in the region. Additionally, a direct passenger ship service links Nagapattinam in Tamil Nadu to Kankesanthurai, covering 111 km in around three and a half hours.

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:
A new study highlights Red colobus as key to tropical forest conservation. Imperiled across Africa, they’re vital biodiversity indicators and one of two major simian groups globally. Facing extinction due to hunting and habitat loss, over half are Endangered or Critically Endangered. The Red Colobus Conservation Action Plan, led by IUCN, aims to prioritize their conservation, safeguarding Africa’s forests and curbing unsustainable hunting.

Notes:
Dubai is developing the world’s largest airport, Al Maktoum International Airport, under Sheikh Mohammed bin Rashid Al Maktoum’s leadership. With a capacity for 260 million passengers annually, it will feature 400 terminal gates and five parallel runways. Beyond transportation, it aims to integrate into urban life, commerce, and global trade, positioning itself as the “world’s airport” within Dubai South. This ambitious project underscores Dubai’s dedication to innovation and global connectivity.