Current Affairs Quiz - May, 2024

Notes:
Preliminary data from NASA’s James Webb Space Telescope (JWST) suggests a more than 50% likelihood of dimethyl sulfide (DMS) gas on the exoplanet K2-18b. However, further analysis is required before a definitive conclusion can be reached. DMS is a gas that is only produced by living beings on Earth, primarily by phytoplankton in marine environments. The presence of DMS in K2-18b’s atmosphere could be a groundbreaking discovery, as the planet is believed to be ocean-covered and 2.6 times larger than Earth. K2-18b, discovered in 2015, is a super Earth exoplanet orbiting an M-type star. M stars, smaller and cooler than the sun, comprise the Red Dwarf category. K2-18b resides in the Goldilocks zone, where temperatures sustain liquid water.

Notes:
The Financial Intelligence Unit (FIU), established in 2004 under the Ministry of Finance recently issued alert indicators under the Prevention of Money Laundering Act (PMLA) for various sectors, including capital markets, insurance, online payment gateways, and cryptocurrency services. It analyzes suspicious financial transactions to combat money laundering and terrorism financing. Organizations like banks, stockbrokers, and insurance companies are mandated to register with FIU-IND as reporting entities under PMLA.

Notes:
The UK government has implemented groundbreaking laws mandating minimum security standards for internet-connected smart devices, aiming to shield consumers and businesses from hacking and cyber-attacks. Manufacturers are now barred from employing weak default passwords such as “admin” or “12345”. Users will be prompted to change any common passwords upon device start-up, enhancing overall security measures.

Notes:
Recently, an Indian Air Force (IAF) helicopter collected water from Bhimtal Lake in Nainital, Uttarakhand to help control a nearby forest fire.The Indian Army and the IAF were called in to help control the blaze, with MI-17 choppers lifting water from the lake for firefighting efforts. Bhimtal Lake, Uttarakhand’s largest lake in the Nainital district, is a centerpiece of the Kumaon region, dubbed India’s “lake district.” Named after the Mahabharata’s Bhima, it formed naturally due to Earth’s crust shifts. Constructed in 1883 during the British era, it features a masonry dam.

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 Koothandavar festival in Koovagam, Tamil Nadu, unfolds a narrative of marriage and widowhood within a day during the Tamil month of Chithirai. Lasting 18 days, it honors Lord Aravan’s sacrifice from the Tamil Mahabharata. Transgender individuals marry Aravan on the 17th day, symbolizing devotion. On the final day, Aravan is ritually sacrificed, and his widowed spouses mourn, echoing Lord Krishna’s lament for Aravan’s plight. This unique celebration draws global attention to transgender identity.

Notes:
Shashi Bhushan Singh, an Indian Railway Traffic Service officer, has been appointed as Secretary (Director level) of the National Jute Board in Kolkata by the Central Government. The appointment is for 5 years or until further notice. Established under the National Jute Board Act, 2008, the NJB began operations on April 1, 2010, consolidating the Jute Manufactures Development Council and the National Centre for Jute Diversification.

Notes:
Groww Mutual Fund recently introduced India’s inaugural Nifty Non-Cyclical Consumer Index Fund. This mutual fund aims for long-term capital growth by investing in securities from the Nifty Non-Cyclical Consumer Index (TRI), comprising 30 companies less affected by economic instability. Non-cyclical stocks, also termed defensive stocks, sustain demand irrespective of economic fluctuations, catering to daily consumer necessities like food and utilities, making them resilient investment choices.

Notes:
IN-SPACe has released norms, guidelines, and procedures (NGP) for Indian Space Policy, 2023, enhancing regulatory predictability and ease of business. It covers Authorization for space activities within Indian territory and jurisdiction, including launch, operation, and re-entry of space objects. Only Indian entities can seek Authorization, while non-Indian entities can apply through Indian counterparts. The NGP outlines criteria and conditions for Authorization, ensuring transparency and compliance with regulations in the Indian space sector.

Notes:
India’s Mindgrove Technologies, incubated by IIT Madras, has launched Secure IoT, the nation’s first high-performance SoC (system on chip). Supported by Peak XV Partners, the chip enables Indian OEMs to integrate locally-made technology, reducing costs without sacrificing quality. Secure IoT, a system-on-chip, consolidates multiple electronic components into one, facilitating smaller and more efficient devices. This breakthrough marks a significant step towards India’s self-reliance in technology and innovation.