Current Affairs Quiz - May, 2024

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.

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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.

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World Press Freedom Day, observed annually on May 3, 2024, focuses on “A Press for the Planet: Journalism in the Face of the Environmental Crisis.” Emphasizing journalism’s role in addressing global environmental issues, it highlights the importance of a free press in informing the public and holding decision-makers accountable. Proclaimed by the UN General Assembly in 1993, it commemorates the Declaration of Windhoek, promoting press freedom globally.

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Hindu devotees gather in Hinglaj, Lasbela district, Pakistan, for an annual festival at the ancient cave temple of Hinglaj Mata. The pilgrimage begins with a trek to steep mud volcanoes, where pilgrims climb stairs and rocks to reach the summit. Tossing coconuts and rose petals into the crater, they seek divine permission to visit the temple. Dedicated to Goddess Hinglaj, it’s one of the oldest temples in the Indian subcontinent. Located near the Hingol River, in Balochistan, Pakistan, the temple complex features shrines, caves, and sacred natural formations.

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SEBI approved changes in mutual fund regulations to combat front-running in Indian asset management companies (AMCs). Front-running, or trading with non-public information ahead of significant transactions, is illegal in India and can impact asset prices. It occurs in various financial markets like stocks and commodities. Common strategies include Buy-Buy-Sell (BBS) and Sell-Sell-Buy (SSB) patterns. These regulatory changes aim to safeguard market integrity and investor interests.

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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:
According to IQAir, Kathmandu is the most polluted city in the world as of May 2, 2024. IQAir is a Swiss technology company that monitors the pollution levels of 101 cities in real time. The Ministry of Health and Population of Nepal has advised residents to wear masks due to the alarming increase in air pollution in the Kathmandu valley. In 2023, IQAir’s World Air Quality report ranked India as the third most polluted country and New Delhi as the most polluted capital city.

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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:
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:
The OECD’s “Economic Outlook” report, released on May 2, 2024, raised India’s economic growth forecast for 2024-25 to 6.6%, up from 6.2%. It also projects a 6.6% growth rate for 2025-26. The OECD joins other institutions in revising India’s growth prospects. The report attributes India’s accelerated growth to increased public investment and business confidence. It emphasizes the need for the government to address indebtedness through revenue growth, spending efficiency, and fiscal rules.