Current Affairs Quiz - May, 2024

Notes:
Daryapur arachnologist unveils Peucetia chhaparajnirvin, a new green lynx spider species. Found in Tal Chhapar Wildlife Sanctuary, Rajasthan, it’s named after the locale. Typically dwelling on Vachellia nilotica leaves, its green hue aids camouflage for ambushing prey. With swift legs, it hunts nocturnally, feasting on small insects. Lynx spiders, known for their active hunting style sans webs, belong to the family Oxyopidae in the order Araneida.

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:
Air Marshal Nagesh Kapoor took charge as Air Officer Commanding-in-Chief (AOC-in-C) Training Command on May 1, 2024. Commissioned in 1986, he’s a veteran with over 3400 flying hours and notable stints as Commanding Officer and Station Commander. His roles include Chief Instructor at Air Force Academy, Defence Attaché in Pakistan, and staff positions in strategy and air defense. Prior to TC, he was Air Officer-in-Charge Personnel at Air HQ.

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:
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:
On May 3, 2024, the Permanent Mission of India to the UN and the Ministry of Panchayati Raj, with UNFPA, host “Localizing the SDGs: Women in Local Governance in India Lead the Way” during CPD57 in New York. Elected women representatives, including Sabhadhipati Supriya Das Datta (Tripura), Sarpanch Kunuku Hema Kumari (Andhra Pradesh), and Sarpanch Neeru Yadav (Rajasthan), led by Secretary Vivek Bharadwaj, will showcase Indian women’s grassroots leadership.

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.

Notes:
Nepal introduced a new Rs 100 currency note featuring disputed Indian territories—Lipulekh, Limpiyadhura, and Kalapani—triggering contention from India. Prime Minister Prachanda chaired a meeting where the decision was made. Rekha Sharma, also the communication minister, announced the update following Nepal Rastra Bank’s proposal. The move follows tensions since Nepal’s 2020 political map included these areas. India had included them in its 2019 map, leading to diplomatic strains, notably over a road construction.

Notes:
An Atlas V rocket is poised to launch Boeing’s Starliner crew capsule on its third test flight, marking the first with astronauts aboard. Starliner is a spacecraft designed to ferry astronauts to space, consisting of a crew capsule and service module. With innovative features like wireless internet and tablet interfaces, it’s reusable up to 10 times, fitting atop Atlas V rockets operated by United Launch Alliance, a Boeing-Lockheed Martin venture.