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Banking Current Affairs :18th May 2024

Today’s Current Affairs: 18th May 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

India Extends Budgetary Support of USD 50 Million to Maldives:

  • The Government of India (GoI) has provided a Budgetary Support of USD 50 million, in the form of a rollover of Treasury Bill (T-Bill), to the Maldives for another year.
  • The State Bank of India (SBI) has subscribed for one more year to the T-bill issued by Ministry of Finance of Maldives, upon maturity of the previous subscription.

ReNew Signed MoU with Societe Generale for Energy Transition Projects of USD 1 Billion over Next 3 years:

  • ReNew Energy Global PLC (ReNew) signed a Memorandum of Understanding (MoU) with European Bank, Societe Generale, to support the ReNew’s energy transition projects in India and globally. This partnership will contribute towards India’s net zero goals.
  • Under this MoU, Societe Generale will provide financial support of USD 1 billion over the next 3 years, mainly through debt financing and advisory solutions.

SBI General Insurance Introduced ‘Bima Central’ Platform to Transform Customer Experience with Innovation:

  • State Bank of India (SBI) General Insurance Company Limited introduced Bima Central, India’s 1st insurance portfolio management platform to transform customer experience with innovation.
  • It has collaborated with Bima Central which was developed by CAMS Insurance Repository Services Limited (CAMSRep).

ADB Approves USD 148.5 Million Loan to Enhance Power Distribution System(PDS) of Sikkim:

  • The Asian Development Bank (ADB) approved USD 148.5 million loan which aimed to bolster, modernize and climate-proof distribution system to enhance reliability, quality and resilience of electricity supply in Sikkim, India.
  • The loan is in alignment with Power for All initiative led by Sikkim government which aims to ensure uninterrupted access to high-quality electricity for households, industries, among others.

TATA AIG Partnered with Aurm To Offer Safe Vaults For Insurance Coverage:

  • Tata AIG General Insurance Company Limited has partnered with Aurm, a Bengaluru-based asset protection firm to provide insurance coverage to Aurm customers for their valuables.
  • Under this partnership, Aurm’s vaults would have complete insurance coverage up to Rs 25 lakh.
  • The collaboration of Aurm’s security infrastructure and technology, Tata AIG’s insurance coverage for safe vault owners, will provide them with ease of mind in protecting their high-value possessions.

MSCI Announced Changes in MSCI Global Standard Index: 13 Indian Firms Added & 3 Removed

  • MSCI India index adds NHPC, Canara Bank, JSW Energy and other 10 firms; removes Paytm and 2 more MSCI Inc.(formerly known as Morgan Stanley Capital International Inc.) has announced changes in constituents for the MSCI Global Standard Indexes, which will take place as of close of 31st May 2024.
  • As per the May 2024 review, 13 Securities will be added to and 3 Securities will be deleted from the India Index.

Forbes 30 Under 30 Asia 2024 features 86 Indians; includes Akshit Bansal, Raghav Arora & Bhagya Shree Jain Forbes Releases 2024 30 Under 30 Asia List:

  • The 9th edition of the Forbes 30 Under 30 Asia list (2024) featured 86 entries from India which includes Akshit Bansal (29) and Raghav Arora (28), co-founders of Statiq-India and Bhagya Shree Jain (29), founder of The Disposal Company.
  • The “30 Under 30 Asia” list by Forbes showcases young entrepreneurs, leaders, and trailblazers under 30 who are driving innovation and transforming industries across the Asia-Pacific region.
  • The 2024 list features 300 entries from 21 countries and territories. India had the most entries followed by China and Japan (32 each), Singapore (27), Australia (26) and Indonesia (18).

Lawrence Wong Becomes the New Prime Minister of Singapore Lawrence Wong sworn in as Singapore’s new Prime Minister:

  • Lawrence Wong Shyun Tsai, a United States (US) trained economist and a former civil servant, was sworn in as the fourth Prime Minister (PM) of Singapore since independence.
  • The President of Singapore, Tharman Shanmugaratnam, administered the oath to Wong on May 15, 2024.

Quant Money Managers Receives RBI Nod to Acquire Stake Up to 9.98% in RBL Bank:

  • Quant Money Managers Limited has received Reserve Bank of India (RBI) approval to acquire its stake up to 9.98% of the paid-up share capital or voting rights in RBL Bank Limited by May 12, 2025, subject to certain conditions and provisions under the Banking Regulation Act, 1949.

NASA Plans to Build ‘FLOAT’, the 1st Railway System on Moon:

  • National Aeronautics and Space Administration (NASA) has announced its plan to build 1st Railway System on Moon, and named as “Flexible Levitation on a Track (FLOAT)”.
  • This Railway system is part of NASA’s Moon to Mars mission i.e. Robotic Lunar Surface Operations 2 (RLSO2).
  • It will play a vital role in the daily operations of a sustainable lunar base envisioned for 2030s.
  • The FLOAT system will be developed by NASA’s Jet Propulsion Laboratory (JPL) in California, United States of America(U.S.A.)

Anuradha Mascarenhas’s new book “At The Wheel of Research”:

  • The Indian Express, has penned a new book titled “At The Wheel of Research: An Exclusive Biography of Dr. Soumya Swaminathan”. The book is published by Bloomsbury Publishing India Pvt. Ltd.

M&M Gears Up For a ₹26,000 Crore Investment in Automotive Business:

  • Mahindra & Mahindra Ltd has unveiled an ambitious plan to invest ₹26,000 crore in its automotive business over the next three years. This significant investment will span from FY25 to FY27

Senior IPS Officers A.Y.V. Krishna & N. Venu Gopal Appointed as Additional Directors in CBI:

  • Senior Indian Police Service (IPS) officers A Y V Krishna and N Venu Gopal have been appointed as additional directors in the Central Bureau of Investigation (CBI).

Nepal PM Seeks Fourth Vote of Confidence Amid Opposition Protest:

  • Nepalese Prime Minister Pushpa Kamal Dahal, also known as Prachanda, is set to seek his fourth vote of confidence on Monday amidst turmoil in parliament.
  • The Janata Samajbadi Party Nepal has withdrawn its support within 18 months of Dahal taking office, prompting this latest confidence vote.

Venezuela Becomes First Country To Lose All Glaciers:

  • Venezuela is thought to be the first nation in modern times to have completely lost all of its glaciers.
  • New research shows that the Humboldt glacier in the Andes, which used to be very big, has shrunk to less than 2 hectares, which means it is no longer a glacier but an ice field.
  • The Sierra Nevada de Mérida mountain range in Venezuela used to have six glaciers.

Pine Needle Power Projects:

  • Uttarakhand’s innovative pine needle power projects, aimed at mitigating forest fires and generating electricity, have fallen short of expectations. Despite the vast potential, technological and practical challenges have hindered their success.

Kapil Sibal Elected as the President of Supreme Court Bar Association:

  • Senior advocate Kapil Sibal has been elected as the president of the Supreme Court Bar Association (SCBA) in a recent election held on Thursday in New Delhi.

Ambaji White Marble : GI Tag

  • Marble mined in Gujarat’s Ambaji has recently been awarded the Geographical Indication, or GI tag, by the Central Government.
  • Ambaji White Marble is a type of marble known for its stunning white appearance and unique natural patterns.