National News
India Contributes $500,000 to UN Counter-Terrorism Trust Fund
India has reaffirmed its dedication to the global fight against terrorism by contributing $500,000 to the UN Counter-Terrorism Trust Fund (CTTF). Ambassador Ruchira Kamboj, India’s Permanent Representative to the UN, delivered the contribution to Under Secretary General Vladimir Voronkov on May 7. This financial support adds to India’s ongoing commitment, totaling $2.55 million, aimed at bolstering multilateral efforts against terrorism.
International News
Japan and Nagaland Inaugurate Kohima Peace Memorial and Eco Park
The Kohima Peace Memorial and Eco Park in Nagaland hold profound significance, celebrating the collaborative effort between the Government of Japan, the Japanese International Cooperation Agency, and the Government of Nagaland. The inauguration of these projects represents not only historical importance but also serves as a symbol of peace, reconciliation, and educational value.
Putin Reappoints Mikhail Mishustin as Russian Prime Minister
In a widely anticipated move, Russian President Vladimir Putin has reappointed Mikhail Mishustin as the Prime Minister of Russia, subject to approval by the lower house of parliament, the State Duma. This decision comes as part of the legal procedure following Putin’s inauguration for his fifth presidential term.
Chad’s Military Dictator Idriss Deby Wins Presidential Election
Mahamat Idris Deby Itno, Chad’s military dictator and interim president, has secured victory in the presidential election held on May 6, 2024. This provisional result, announced by the National Election Management Agency on May 10, 2024, is poised to extend Deby’s rule for another six years.
Appointments News
Vice Admiral Sanjay Bhalla Takes Helm as Chief of Personnel of Indian Navy
Vice Admiral Sanjay Bhalla, AVSM, NM, a seasoned naval officer with over 35 years of distinguished service, has assumed the pivotal role of Chief of Personnel of the Indian Navy on 10 May 2024. His extensive career has been marked by a series of challenging and fulfilling appointments, both at sea and ashore.
RBI Appoints R. Lakshmi Kanth Rao as Executive Director
The Reserve Bank of India (RBI) has appointed R. Lakshmi Kanth Rao as Executive Director, effective from May 10, 2024. Rao brings over 30 years of experience at the RBI, having previously served as Chief General Manager in charge of the Department of Regulation.
Zeta Launches Digital Credit as a Service for Banks in India: Revolutionizing Credit Access
Zeta, a global provider of cutting-edge banking technology, has unveiled its Digital Credit as a Service offering at Democratizing Credit 2024. Leveraging NPCI’s Credit Line on UPI scheme, Zeta aims to tap into the burgeoning credit market in India, projecting transaction volumes to surpass $1 trillion by 2030. With a goal to capture 50% of this market, Zeta’s solution streamlines credit issuance processes for banks, facilitating the rapid deployment of diverse credit products.
Agreements News
DRDO and IIT Bhubaneswar Collaborate on Defence Technology Projects
The Defence Research and Development Organisation (DRDO) and the Indian Institute of Technology (IIT) Bhubaneswar have initiated a partnership aimed at advancing research in electronics warfare, AI-driven surveillance, power systems, and radar systems. DRDO has sanctioned nine projects from the Electronics and Communication Systems (ECS) Cluster to IIT Bhubaneswar, with an additional seven projects awaiting approval, backed by ₹18 crore in funding.
Business News
Indian Export Performance in 2023-24 under Minister Piyush Goyal
In 2023-24, India experienced positive export growth to 115 out of 238 countries/territories, with major gains seen in key markets such as the USA, UAE, China, and the UK. However, import declined from 124 countries during this period.
India’s Industrial Production Growth Slows to 4.9% in March 2024
India’s industrial production growth rate decelerated to 4.9% in March 2024 compared to 5.7% in February, as per data from the Ministry of Statistics and Programme Implementation. The Index of Industrial Production (IIP) for FY24 stood at 5.8%, up from 5.2% in the previous year. In March 2023, industrial output had grown by 1.9%.
Thomas Cook India Introduces TCPay: A Game-Changer in International Money Transfers
Thomas Cook India has revolutionized international money transfers with the launch of TCPay, a user-friendly digital service designed to simplify and enhance the remittance process. Traditionally, sending money abroad involved tedious paperwork and limited operating hours. With TCPay, customers can now enjoy 24×7 remittances with ease and efficiency.
Agreements Days
Indian Coast Guard Inks MoU with Hindalco for Indigenous Marine-Grade Aluminium
The Indian Coast Guard (ICG) and Hindalco Industries, a leading industry group, have joined forces to promote the manufacturing and supply of indigenous marine-grade aluminium for the construction of ships. The collaboration, formalized through a Memorandum of Understanding (MoU), aims to enhance India’s self-reliance in the shipbuilding sector.
Sports Days
New Zealand’s Colin Munro Announces Retirement from International Cricket
In a surprising move, Colin Munro, the hard-hitting New Zealand top-order batsman, has announced his retirement from international cricket after being overlooked for the upcoming T20 World Cup. The decision marks the end of an era for the explosive left-hander, who etched his name as one of the most destructive T20 batters in the world.
Important Days
World Migratory Bird Day 2024: Celebrating the Importance of Insects
World Migratory Bird Day (WMBD) is an annual global campaign that aims to raise awareness about the conservation of migratory birds and their habitats. This year, WMBD will be celebrated on two dates: Saturday, 11 May 2024, and Saturday, 12 October 2024, to align with the cyclic patterns of bird migration in different hemispheres. The theme for World Migratory Bird Day 2024 is “Insects”. This year’s campaign will focus on highlighting the vital role that insects play in the lives of migratory birds.
National Technology Day 2024, Celebrating India’s Technological Prowess
National Technology Day is celebrated annually in India on 11 May. This day is dedicated to recognizing the contributions of innovators, scientists, and engineers, and to promoting scientific and technological innovation in the country. The day was first established in 1998 to commemorate the successful nuclear test at Pokhran. This test was a significant milestone in India’s technological advancement, and it paved the way for the country to acquire a leading position in the field of nuclear weapons technology.
