Banking Current Affairs : 20th May 2024

Today’s Current Affairs: 20th May 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

LIC Received Approval from SEBI for Additional 3 years to meet MPS norm:

• Life Insurance Corporation of India (LIC) has received the approval from Securities and Exchange Board of India (SEBI) for additional 3 years to comply with the Minimum Public Shareholding (MPS) norms.
• SEBI granted this additional 3 years to LIC to achieve 10% Public shareholding under Rule 19(2) (b) (iv) of the Securities Contracts (Regulation) Rules, 1957 i.e. within a time period of 5 years from the date of listing.
• Now, the revised timeline for LIC to achieve is on or before 16th May, 2027.

India’s 2024 Economic Growth Projection Revised upwards to 6.9%:

• The ‘World Economic Situation and Prospects (WESP) 2024 – Mid Year Update,’ published by the United Nations Department of Economic and Social Affairs (UN-DESA), India’s economy is estimated to expand by 6.9% in 2024.
• This is an upward revision from the 6.2% Gross domestic product (GDP) forecast made by the UN in January 2024.

Forbes’ World’s Highest-Paid Athletes 2024:

• Forbes’ released the list of World’s Highest-Paid Athletes 2024 featuring top 50 highest paid athletes.
• Soccer Player Cristiano Ronaldo (Portugal) topped the list with a total earnings of USD 260 million, which includes USD 200 million on the field earnings and USD 60 million off the field earnings.

IN-SPACe honoured with Geospatial World Leadership Award at GWF 2024:

• Indian National Space Promotion and Authorisation Centre (IN-SPACe), under the Department of Space (DOS), Government of India, has won the Geospatial World Leadership Award 2024 under “Enabling Public Policy” category.

Former Union Minister Kapil Sibal Elected as President of Supreme Court Bar Association:

• Kapil Sibal, senior advocate and former Union Minister of Law and Justice has been elected as the President of Supreme Court Bar Association (SCBA) for the fourth time.
• Kapil Sibal won the election by securing 1,066 votes, defeating Pradeep Kumar Rai, a senior advocate who secured 689 votes.
• Sibal would take over from the incumbent, senior advocate Adish C. Aggarwala

Andrej Plenkovic Appointed as PM-Designate of Croatia for 3rd Term:

• Andrej Plenkovic (54 years), incumbent Croatian Prime Minister(PM) and President of the Croatian Democratic Union (HDZ) party, has been appointed as PM-designate of the Republic of Croatia for 3rd consecutive term.
• He has been serving as the PM of Croatia since 19th October 2016.

Neeraj Chopra Wins Gold Medal in 27th National Federation Senior Athletics Competition 2024:

• Neeraj Chopra won the Gold medal in the men’s Javelin with 82.27 meter(m) throw in 27th National Federation Senior Athletics Competition 2024.
• The tournament held at Kalinga Stadium in Bhubaneswar, Odisha.
• This was the first time for Neeraj Chopra from Haryana to participate in an event in India in three years.
• Last time, he competed at the Federation Cup in 2021 and won a gold medal with an 87.80 m throw.

World Telecommunication and Information Society Day 2024:

• The United Nations (UN) World Telecommunication and Information Society Day (WTISD) is annually observed across the globe on 17 May to raise awareness of the benefits of the Internet and other information and communication technologies (ICT).
• WTISD 2024 was observed under the theme: “Digital Innovation for Sustainable Development.”

HIV Vaccine Awareness Day:

• World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on May 18th.
• This day is dedicated to raising awareness about the urgent need for AIDS vaccines and acknowledging the efforts of individuals, including doctors, scientists, and community members, who are committed to developing vaccines to combat HIV/AIDS.

SBI Raises Short-Term Retail Fixed Deposit Rates Amidst Economic Shifts:

• In response to rising credit demand and falling liquidity, State Bank of India (SBI) has increased short-term retail fixed deposit rates by 25-75 basis points (bps), marking its first interest rate hike since December.

India’s Foreign Exchange Reserves Jump $2.56 Billion to $644.15 Billion:

• India’s foreign exchange reserves saw an increase of $2.56 billion, reaching a total of $644.15 billion for the week ended May 10, according to the Reserve Bank of India (RBI).

Government-Backed ONDC Attracts 10 Unicorns and 125 Startups:

• The Open Network for Digital Commerce (ONDC), backed by the government, has garnered significant interest from key players in India’s digital ecosystem.
• Among the 125 startups committed to the platform are renowned unicorns like Zerodha, EaseMyTrip, and Cars24

India-Middle East-Europe Economic Corridor:

• India and the UAE recently concluded a significant meeting focused on the India-Middle East-Europe Economic Corridor (IMEEC).
• The meeting, held under the Intergovernmental Framework Agreement, aimed at enhancing cooperation for the development and operationalization of the corridor.

Phtheirospermum lushaiorum : Hemi-Parasitic Terrestrial Plant

• A rare hemi-parasitic terrestrial plant named Phtheirospermum lushaiorum has been found in Phawngpui National Park in Mizoram.
• Phtheirospermum lushaiorum is a new species of hemi-parasitic terrestrial plant.
• These hemi-parasitic plants lack a fully developed root system and form connections with another plant, from which they obtain some or all of their water and minerals.

SPECULOOS-3b : New Dwarf Planet

• An international team of astronomers recently detected a new, Earth-sized planet named SPECULOOS-3b, just 55 light years away, orbiting an ultra-cool red dwarf star.
• SPECULOOS-3b is an Earth-size planet orbiting an ultracool red dwarf star, 55 light-years away from Earth.

Vishing : Cybercrime

• The government released a circular warning its employees of a sophisticated cybercrime— vishing.
• Vishing is short form of voice+phishing, is carried out through a call on a mobile phone or landline.
• It’s a technique wherein a threat actor calls the victim over the phone and tries to trick him/her into clicking on malicious files or emails, which can then take one to a legitimate-looking website asking to share personal information.

RoseTTAFold : AI-Based Prediction Tool

• AI-based prediction tool RoseTTAFold has provided a major scientific breakthrough in the last four years in the area of computational drug development.
• RoseTTAFold is developed by researchers at the University of Washington, U.S.

MATES Migration Scheme:

• The Australian Federal Budget Document, released recently, announced the start date for the Mobility Arrangement for Talented Early-professionals Scheme (MATES) for Indian Nationals.
• Australia and India entered into a Migration and Mobility Partnership Arrangement (MMPA).

Global Report On Neglected Tropical Diseases (NTD) Of 2024:

• Ahead of the World Health Assembly 77th session, the World Health Organization (WHO) released its Global report on neglected tropical diseases (NTD) of 2024.
• The report provides an account of the progress made in 2023 towards the implementation of the Road map for neglected tropical diseases 2021-2030.
• As of December 2023, a total of 50 countries have successfully eliminated at least one NTD, marking the halfway point towards the 2030 target of 100 countries.

Char Dham Yatra : Death Of 11 Pilgrims

• With nearly twice the number of pilgrims embarking on the Char Dham yatra in Uttarakhand since it commenced on May 10, the state government has reported the death of 11 pilgrims in the first five days.
• The pilgrimage to Yamunotri, Gangotri, and Kedarnath Dham commenced on May 10, while the doors to Badrinath Dham opened on May 12.