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Banking Current Affairs : 17th May 2024

Today’s Current Affairs: 17th May 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

Total exports of merchandise and services:

  • India’s total exports of merchandise and services in April 2024 is estimated to be 64.56 billion dollars against 60.40 billion dollars in April 2023.
  • The data shows a positive growth of 6.88% on a yearly basis.
  • As per the data released by the Ministry of Commerce and Industry, Country’s merchandise exports grew by 1.08% at 34.99 billion dollars in April 2024

Unemployment rate:

  • The unemployment rate in urban areas for persons aged 15 and above has decreased to 6.7% during the previous quarter January to March 2024.
  • The unemployment rate was 6.8% during the corresponding period of last year.
  • According to the Periodic Labour Force Survey quarterly bulletin (January – March 2024), the female unemployment rate decreased to 8.5%.
  • According to the survey, the Labour Force Participation Rate in urban areas has shown an increasing trend from 48.5% to 50.2% from January to March 2024 in comparison to the corresponding period of last year.
  • In the same period, Female Labour Force Participation Rate in urban areas rose from 22.7% to 25.6%.

Indian economy likely to grow:

  • Moody’s Ratings projected a 6.6% growth rate for the Indian economy in the fiscal year ending March 2025 (FY25).
  • The forecast attributes the growth to strong credit demand and robust economic performance, which will support the profitability of non-bank finance companies (NBFCs).

ReNew inks initial pact with Societe Generale for $1 billion debt financing:

  • Energy firm ReNew announced that it has signed an initial pact with European bank Societe Generale for up to $1 billion in financing as debt and advisory solutions over the next three years.
  • The MoU aims to support the financing and development of the company’s various strategic energy transition projects both in India and globally.

2024 World Hydrogen Summit:

  • India has set up its pavilion at the 2024 World Hydrogen Summit, currently underway in Rotterdam, Netherlands from May 13-15.
  • Organized by the Ministry of New and Renewable Energy, the India Pavilion stands as one of the largest at the event, showcasing the country’s advancements in green hydrogen technology and facilitating engagement with stakeholders.

China’s industrial output grew by 6.7%:

  • China’s industrial output grew by 6.7% year-on-year in April, a significant increase from the 4.5% growth recorded in March.
  • This robust growth, as reported by the National Bureau of Statistics (NBS) on Friday, exceeded analysts’ expectations of a 5.5% rise, indicating a strengthening recovery in the manufacturing sector

Bharat Pavilion Unveiled at the 77th Cannes Film Festival:

  • Inauguration of the Bharat Pavilion, formerly known as the India Pavilion, marked a significant moment at the 77th Cannes Film Festival. The renaming reflects India’s commitment to traditional storytelling while seeking global collaborations.

NASA Appoints New Chief for Artificial Intelligence:

  • NASA has given a new role to David Salvagnini as the agency’s Chief Artificial Intelligence (AI) Officer.
  • This is an addition to his current job as Chief Data Officer. The appointment shows NASA’s commitment to using AI technology responsibly.

Sunil Chhetri Announces Retirement from International Football:

  • Sunil Chhetri, India’s most decorated footballer, has announced his retirement from international football.
  • The FIFA World Cup Qualifier game against Kuwait in Kolkata on June 6 will be his last appearance for the national team.

PhonePe Launches UPI in Sri Lanka in Partnership with LankaPay:

  • PhonePe has joined forces with LankaPay to introduce UPI payments in Sri Lanka.
  • This collaboration allows PhonePe users to seamlessly utilize UPI for transactions across LankaPay QR merchants, providing them with familiarity and security while traveling.

LIC Granted 3-Year Extension by Sebi to Achieve 10% Public Shareholding:

  • The Securities and Exchange Board of India (Sebi) has extended LIC’s deadline to achieve a minimum 10% public shareholding. LIC, a state-owned insurance giant, now has until May 16, 2027, to fulfill this obligation.

Chandrakant Satija Honoured with Global Excellence Award 2024:

  • Sahara Star Hotel in Mumbai on May 12th, Chandrakant Satija, the renowned educationist and Founder/CEO of Chandra Admission Consultants, was honored with the Global Excellence Award 2024.

Global Report On Internal Displacement 2024:

  • The number of internally displaced people increased to 75.9 million, from 71.1 million in the preceding year, according to the Global Report on Internal Displacement 2024 (GRID-2024) released recently.
  • Global Report on Internal Displacement 2024 is an annual report published by the Geneva-based Internal Displacement Monitoring Centre (IDMC). It records internal displacements due to conflict and violence and disasters.

Bulava Missile:

  • Russian President has bolstered the country’s military capabilities by ordering the addition of a new nuclear-capable missile known as the Bulava into the Russian military arsenal.
  • RSM-56 Bulava (NATO reporting name: SS-N-32) is a Russian submarine-launched intercontinental ballistic missile (ICBM).

Ligdus Garvale : New Spider Species

  • A team of naturalists recently documented a new spider species named ‘Ligdus Garvale’ from Garvale, a village nestled in the Somwarpet taluk of the Kodagu district, Karnataka.
  • Ligdus Garvale is a new species of jumping spider. It marks only the second recorded instance of the Ligdus genus in 129 years.

World Migration Report 2024:

  • The World Migration Report 2024 was launched by the International Organization for Migration (IOM), revealing significant shifts in global migration patterns. World Migration Report is IOM’s flagship report released biennially.
  • The report highlighted that Mexico, China, the Philippines, and France were the other four nations in the top five remittance recipient countries, with India being the top country receiving remittances in 2010, 2015, 2020, and 2022.

India Proposes Digital Competition Bill, 2024 Against Tech Giants:

  • The government has proposed the Digital Competition Bill, 2024 taking a clue from European regulatory frameworks This draft law aims to regulate the operations of major technology firms such as Google, Facebook, and Amazon, ensuring they do not misuse their dominant positions.