Current Affairs Quiz - May, 2024

Notes:
The National Council of Applied Economic Research predicts India’s economy to surpass 7% growth this fiscal year, citing global growth, trade acceleration, and a promising monsoon. The IMF has raised India’s growth forecast for 2024-25 to 6.8%, up from 6.5%. Government data reveals a 7.6% growth in FY24.

Notes:
Scientists continue to explore Mexico’s Taam Ja’ Blue Hole in Chetumal Bay, hinting at a connection to a complex network of underwater caves. Blue holes, like Taam Ja’, are sinkholes formed by the dissolution of soluble rock, such as limestone. Taam Ja’ is the world’s deepest known underwater sinkhole, plunging at least 1,380 feet below sea level. It surpasses the previous record holder, the Sansha Yongle Blue Hole, by 390 feet.

Notes:
The Ministry of Mines and Shakti Sustainable Energy Foundation signed an MoU to enhance knowledge support for critical minerals crucial to India’s economic growth, national security, and low-carbon energy transition. The agreement was inked during the ‘Critical Minerals Summit’ at the India Habitat Centre, New Delhi, emphasizing the importance of beneficiation and processing capabilities.

Notes:
Former world number one archer Deepika Kumari re-inducted into the Target Olympic Podium Scheme (TOPS) core group for Paris Games. TOPS, initiated by the Ministry of Youth Affairs and Sports in 2014 (revamped in 2018), aims to enhance India’s Olympic and Paralympic performance. Funded by the National Sports Development Fund (NSDF) and Khelo India scheme, it identifies elite athletes through the TOPS Elite Athletes’ Identification Committee and provides targeted training via the Mission Olympic Cell (MOC).

Notes:
The Defence Research and Development Organisation (DRDO) conducted a successful test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system on May 1, 2024, from Dr APJ Abdul Kalam Island, Odisha coast. The test validated advanced mechanisms like symmetric separation and velocity control. Defence Minister Rajnath Singh and DRDO chief Dr Samir V Kamat praised the SMART team. SMART is a next-gen lightweight torpedo delivery system boosting Indian Navy’s anti-submarine capabilities, featuring a supersonic missile carrier with a 643 km range and a 20 km lightweight torpedo.

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:
Uttarakhand government suspends Patanjali Ayurved’s manufacturing licenses for 14 products over misleading ads. The company faces scrutiny for non-compliance with advertising regulations. The move, issued on April 24 by the state’s drug regulator, cites Patanjali’s persistent dissemination of deceptive efficacy claims. This action reflects the government’s commitment to enforce truthful advertising standards and holds implications for Ramdev’s legal battles.

Notes:
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.

Notes:
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.

Notes:
India protests China’s construction in Shaksgam Valley, deemed illegal. The valley is part of Pakistan-Occupied Kashmir. It is a disputed territory claimed by India but controlled by Pakistan and ceded to China in 1963 by Pakistan. Article 6 of the agreement stipulates renegotiation after Kashmir dispute settlement. It borders Xinjiang, POK, and Siachen Glacier. The Karakoram highway, built in the 1970s, resulted from the agreement between China and Pakistan.