Banking Current Affairs : 28th May 2024

Today’s Current Affairs: 28th May 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

South African Regulator Fines SBI’s South Africa Branch:

• The Prudential Authority of the South African Reserve Bank has imposed a financial penalty of 10 million rand (₹4.5 crore) on the State Bank of India’s South Africa branch for non-compliance with certain provisions of the country’s Financial Intelligence Centre Act 38 of 2001 (FIC Act).

Faisal bin Saud Al-Mejfel as Ambassador to Syria:

• Saudi Arabia’s appointment of Faisal bin Saud Al-Mejfel as its ambassador to Syria signifies a significant shift in bilateral relations, marking the first such appointment in over a decade.

TCS Secures Core Banking Transformation Deal with Kuwait’s Burgan Bank:

• Tata Consultancy Services (TCS) has signed a deal to modernize the core banking technology of Burgan Bank, a leading commercial bank in Kuwait.

NAFED Chairman:

• Shehra BJP MLA Jetha Ahir, who has previously served as the deputy speaker of the Gujarat Assembly, has been elected uncontested as the chairman of the National Agricultural Cooperative Marketing Federation of India (NAFED).

Asian Gymnastics Championships:

• The Indian gymnast, Dipa Karmakar, has scripted history by becoming the first-ever Indian to secure a gold medal in any Asian Championships.
• Hailing from Tripura, Dipa achieved this remarkable feat in the women’s vault individual final at the Asian Women’s Artistic Gymnastics Championships 2024, held in Tashkent, Uzbekistan, on May 26, 2024.

India’s Fourth Largest Export Item with 42% Growth:

• Smartphones have become a major export success story for India, now ranking as the fourth-largest export item with a 42% growth, reaching $15.6 billion in FY24.
• This marks an improvement by one notch in the ranking from the preceding year.

The Economic Times HR World Future Ready Organization Award 2024-25:

• NHPC, India’s premier hydropower company, has been bestowed with the prestigious ‘The Economic Times HR World Future Ready Organization Award 2024-25’.
• This coveted recognition highlights NHPC’s unwavering commitment to fostering a future-ready workforce and its strategic approach to human resource management.

India’s Oldest Woman to Conquer Mount Everest:

• Jyoti Ratre, an entrepreneur and fitness enthusiast from Madhya Pradesh, has etched her name in history by becoming the oldest Indian woman to conquer Mount Everest.

Food and Nutrition Board has been shut down by the Women and Child Development (WCD) Ministry:

• A board responsible for providing technical and logistical support for the functioning of community nutrition programs has been “officially dissolved” as part of a plan for the rationalization of government bodies.
• The Food and Nutrition Board has been shut down by the Women and Child Development (WCD) Ministry.
• It was a technical wing of the ministry headquartered in Delhi.

Remal Makes Landfall On Bangladesh Coast:

• Cyclone Remal made landfall on the Bangladesh coast. The cyclone is likely to land in the adjoining West Bengal region around midnight on 27th May, the India Meteorological Department (IMD) predicted.
• It is the first cyclone over the Bay of Bengal in this pre-monsoon season.
• The cyclone that is hurtling towards the West Bengal and Bangladesh coastlines with landfall has been named ‘Remal’ as per the standard convention of naming tropical cyclones in the region.
• The IMD follows a specific naming convention for tropical cyclones forming in the North Indian Ocean, including the Arabian Sea and the Bay of Bengal.
• The name “Remal”, means “sand” in Arabic.

WIPO Concludes New Treaty on IP, GRs & ATK:

• World Intellectual Property Organization (WIPO) Members have approved a new WIPO treaty on Intellectual Property (IP) Genetic Resources (GRs) and Associated Traditional Knowledge (ATK).
• For the 1st time the system of knowledge and wisdom, which supports economies, societies and cultures for centuries, are now inscribed into the global IP system.
• This will benefit countries of the global South and India, a mega biodiversity hotspot with abundance of traditional knowledge, and wisdom.

NSE Lowered Tick Size to 1 Paisa for Stock Price Below Rs 250:

• National Stock Exchange of India Limited (NSE) announced that it has lowered the tick size for all stocks from 5paisa (at present) to 1 paisa for securities priced below Rs 250 in the cash segment.
• The main objective for this new tick size is to enhance liquidity and improve price discovery by allowing more granular price adjustments.
• The new tick size will be effective from 10th June, 2024.

South African Reserve Bank Fines SBI Branch Over Compliance:

• The Prudential Authority of the South African Reserve Bank (SARB), the central bank of South Africa (SA), has imposed a financial penalty of 10 million rand (~Rs 4.5 crore) on the State Bank of India (SBI)’s SA branch for violating anti-money laundering laws in SA.

Goldman Sachs Revised India’s 2024 GDP Growth Projection Upwards to 6.7%:

• Goldman Sachs Group Inc has revised its projection for India’s Growth Domestic Product (GDP) for Calendar Year 2024 (CY24), upwards by 10 Basis Points (bps) to 6.7% from 6.6%.
• It has also estimated that Reserve Bank of India (RBI) will cut the interest rates in the 4th Quarter (Q4) of current Calendar Year (CY24) or Q3FY25(2024-25).

ACI Asia-Pacific & Middle East GAR Awards 2024:

• Airport Council India (ACI) Asia-Pacific and Middle East announced 8th Green Airports Recognition (GAR) awards for 2024.
• Three Indian Airports have been awarded under Silver category. They are,
  • Indira Gandhi International Airport (New Delhi, Delhi) under ‘Over 35 million passengers per annum’ category
  • Kempegowda International Airport (KIA) (Bengaluru, Karnataka) under ‘Between 15-35 million passengers per annum’ category.
  • Chaudhary Charan Singh International Airport (Lucknow, Uttar Pradesh-UP) under ‘less than 8 million passengers per annum’ category.

Vice Admiral Gurcharan Singh Assumes Charge as Commandant National Defence Academy:

• Vice Admiral Gurcharan Singh takes over as Commandant, National Defence Academy Vice Admiral Gurcharan Singh, AVSM, NM an alumnus of the National Defence Academy (NDA) assumed the role of Commandant, NDA (Khadakwasla) on 25 May 2024, in Pune, Maharashtra.
• He succeeded Vice Admiral Ajay Kocchar, AVSM, NM, who assumed the appointment of Commandant, NDA on 01 April 2022.

NASA Launches Small Climate Satellite PREFIRE from New Zealand’s Rocket Lab’s Launch Complex to Study Earth’s Poles:

• National Aeronautics and Space Administration (NASA) successfully launched the first pair of small climate satellites atop the Rocket Lab’s Electron rocket from Launch Complex 1 in Māhia, New Zealand.

SpaceX Launched 1st Batch of Satellites for New U.S. Spy Constellation:

• American aerospace company, SpaceX launched 1st batch of operational spy satellites built by it.
• These satellites were built as part of a new United States of America (U.S.A.) intelligence network, to enhance country’s space-based surveillance powers.
• The mission called NROL-146, was launched aboard the Falcon 9 Rocket which lifted off from the Vandenberg Space Force Base in South California, U.S.A.