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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Imposes Business Restrictions on Edelweiss Asset Reconstruction Company and ECL Finance     

• The Reserve Bank of India (RBI) imposed business restrictions on Edelweiss Asset Reconstruction Company (EARCL) and ECL Finance due to material concerns observed during supervisory examinations.
• EARCL is barred from acquiring financial assets, and ECL Finance is prohibited from undertaking structured transactions for its wholesale exposures.
• The action is based on material concerns observed during supervisory examinations, primarily arising from the group entities’ conduct.
• EARCL and ECL Finance were found to be “acting in concert” by entering into a series of structured transactions for “evergreening stressed exposure of ECL, using the platform of EARCL and connected alternative investment funds (AIFs), thereby circumventing applicable regulations.
• The structures against the Edelweiss Group companies follow similar measures taken by the RBI against JM Financial Products and IIFL Finance.

Key Highlights :

• The RBI also observed that security receipts (SRs) in the case of both ECL and EARCL had been incorrectly valued.
• Moreover, it found that ECL had indulged in a slew of wrong practices.
• These included the submission of incorrect details of its eligible book debts, to its lenders, for computing drawing power.
• Moreover, loan-to-value norms for lending against shares had not been complied with.
• The RBI also encountered incorrect reporting to the Central Repository for Information on Large Credits (CRILC) system.
• Besides, the entities had not adhered to the Know Your Customer (KYC) guidelines by ECL, the RBI observed.
• In April 2024, Kotak Mahindra Bankwas barred from taking on new customers through its online and mobile banking channels and issuing fresh credit cards due to deficiencies in its IT systems.
• Restrictions were also imposed on Bank of Baroda and Paytm Payments Bank.

What is a Security Receipt?

• Security receipts are instruments issued by asset reconstruction companies (ARCs) as consideration for their purchase of distressed assets from banks/Non-Banking Financial Companies (NBFCs).

About Edelweiss Asset Reconstruction Company (EARC) :

• EARC is sponsored by Edelweiss, a leading diversified financial services conglomerate in India, and CDPQ Private Equity Asia Pte Limited (CDPQ).
• EARC specializes in acquiring Non-Performing Assets (NPAs) from banks and financial institutions.
• The company resolves NPAs through strategies outlined in the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 (SARFAESI).
• EARC operates two distinct business divisions: Wholesale Assets and Retail Assets.

HDFC Bank to Discontinue SMS Alerts for Unified Payments Interface Transactions Below ₹100      

• HDFC Bank has informed the customers it will stop sending SMS alerts for any UPI (Unified Payments Interface) payment spent below Rs 100 or receipt of money less than Rs 500.
• As per the bank, this step will be effective from June 25, 2024.
• From this date, SMS notifications will be pushed only for transactions above Rs 100 (for money sent/paid) and above Rs 500 (for money received).
• Reason for Change: The decision is due to the high cost of sending bulk messages, which costs banks a few crores of rupees daily due to the large volume of UPI transactions, averaging around ₹40 crore per day.

What is UPI?

• UPI, or Unified Payments Interface, has become the backbone of digital transactions in India.
• The UPI was introduced in India on April 11, 2016, by Dr Raghuram G Rajan, Governor, RBI at Mumbai, Maharashtra and developed by the National Payments Corporation of India (NPCI).
• It allows you to instantly transfer money between any two parties’ bank accounts.
• UPI transactions require the authorisation of a Personal Identification Number (PIN), a 4-6 digit pass code set by the customers as a security measure to ensure safe and approved transactions.
• For normal UPI the transaction limit is up to Rs 1 Lakh per transaction.
• 3 prominent UPI applications are the Walmart-owned PhonePe, Google Pay and Paytm.
• In 2023, UPI transactions in India reached a record high with 117.6 billion transactions and a value of ₹183 trillion.
• Besides India, the popular digital payment method has spread to seven countries.
• These include Bhutan, France (for e-commerce), Mauritius, Nepal, Singapore, Sri Lanka, and UAE.
• The share of UPI in digital payments in India has reached close to 80% in 2023.
• India accounts for nearly 46% of the world's digital transactions (as per 2022 data).

About HDFC Bank :

• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

Reserve Bank of India Fines HSBC Rs 36.38 Lakh for Foreign Exchange Management Act Regulation Violations      

• The Reserve Bank of India (RBI) imposed a fine of Rs 36.38 lakh on foreign lender HSBC for Foreign Exchange Management Act (FEMA) violations.
• The violations pertain to the reporting requirements under the Liberalised Remittance Scheme of FEMA, 1999, which HSBC did not follow.
• RBI issued a show cause notice to HSBC.
• The bank responded with a written reply and made oral submissions.
• After reviewing the facts and HSBC's responses, the RBI concluded that the violations were substantiated, leading to the imposition of the penalty.

What is the Foreign Exchange Management Act (FEMA)?

• The Foreign Exchange Management Act, 1999 (FEMA), is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India"
• This new Act is in consonance with the frameworks of the World Trade Organisation (WTO).
• It also paved the way for the Prevention of Money Laundering Act, 2002 which came into effect on July 1, 2005.

Recent News :

• In May 2024, The Reserve Bank of India (RBI) imposed a penalty of ₹1 crore on ICICI Bank and fined Yes Bank ₹91 lakh for non-compliance with regulatory directions.

About HSBC :

• Headquarters : London, England, UK
• Group Chairman : Mark Tucker
• Group Chief Executive :Noel Quinn

Asian Development Bank Pledges $2.6 Billion in Sovereign Loans to India        

• The Asian Development Bank (ADB) committed $2.6 billion in sovereign lending to India in 2023 for projects that aim to strengthen urban development, support industrial corridor development, promote power sector reforms, build India’s climate resilience, support horticulture, and enhance connectivity.
• The loans aim to foster India's structural transformation, job creation, infrastructure enhancement, green growth, and socioeconomic inclusiveness, and integrate smart technologies and innovations.
• ADB also extended $23.53 million in technical assistance and $4.1 million in grants under the sovereign portfolio.
• In addition, ADB committed over $1 billion for private sector projects during the year.

Key Highlights :

• India's Relationship with ADB: India is a founding member and one of the largest shareholders of ADB, headquartered in the Philippines.
• ADB focuses on development in the Asia-Pacific regions.
• ADB-Funded Projects in India : Projects funded by ADB in India include the Visakhapatnam–Chennai Industrial Corridor Development project, road connectivity projects in Bihar and Madhya Pradesh, the expansion of the Delhi–Meerut rapid rail transit corridor, horticulture development projects in Himachal Pradesh.
• ADB's Portfolio in India: As of 31 December 2023, ADB had committed 623 public sector loans, grants, and technical assistance totalling $55.3 billion to India, with its current sovereign portfolio in India including 67 loans worth $14.15 billion.

What is Sovereign Debt?

• Sovereign debt is the government debt of a country, a sovereign nation.
• It is also referred to as government debt, national debt, public debt, or country debt.
• The sovereign debt of a country consists of all its debt liabilities to both domestic and foreign creditors.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

Axis Bank Collaborates with Mastercard to Introduce NFC Soundbox      

• Axis Bank, in partnership with Mastercard, has introduced the NFC Soundbox, a new payment solution.
• The NFC Soundbox serves as an all-in-one payment solution, enabling users to accept Bharat QR, UPI, Tap & Pay, and Tap + Pin payments.
• Axis Bank claims to be the first bank in India to offer a Soundbox capable of accepting Tap + Pin payments, facilitating transactions exceeding Rs 5000 via card instruments.

Key Highlights :

• Dual Confirmation Feature: The device features a dual confirmation mechanism, providing audio cues through its speaker and visual feedback on the screen in over 7 languages.
• This ensures a smooth and secure transaction experience for both merchants and consumers.
• Connectivity and Network: The NFC Soundbox is equipped with 4G + WiFi capability and is compatible with leading payment networks such as Visa, RuPay, and American Express.
• Enhanced Security and Convenience: The launch of the NFC Soundbox underscores a commitment to providing consumers with quick and highly secure card transactions while offering small merchants a cost-effective and comprehensive payment solution.

About Axis Bank :

• Established : 3 December 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

About Mastercard :

• Founded : 1966
• Headquarters : New York, U.S
• CEO : Michael Miebach

CURRENT AFFAIRS: NATIONAL NEWS

DoT and MHA strike down on SMS scammers

• The Department of Telecom (DoT) and the Ministry of Home Affairs (MHA) have initiated decisive measures under the Sanchar Saathi program in response to a surge in SMS fraud.
• This comes in the wake of the detection of over 10,000 fraudulent text messages sent in the past three months.
• The Indian Cyber Crime Coordination Centre (I4C) pinpointed the misuse of eight specific SMS headers, leading to their immediate prohibition.

Understanding the Terminology: SMS Headers and Principal Entities

• Within the realm of telecommunications, "principal entities" refer to companies or legal bodies that dispatch commercial SMS messages to telecom subscribers.
• An "SMS header" denotes a unique sequence of letters and numbers utilized by these entities for sending messages.
• The DoT uncovered the exploitation of these headers for illicit online activities, prompting the blacklisting of the associated organizations and headers.

DoT's Swift Response: Blacklisting and Blocking

• The DoT's response included the blacklisting of the eight principal entities and the blocking of all 73 SMS headers and 1,522 content templates under their control.
• This proactive measure aims to prevent the future use of these headers and templates, effectively thwarting further fraudulent endeavors.

A Holistic Approach to Public Safety

• This initiative aligns with the broader strategy of the DoT to safeguard the public from online threats.
• The DoT encourages individuals to utilize the Chakshu feature on Sanchar Saathi to report any suspicious or fraudulent messages they encounter.
• These preemptive measures not only safeguard individuals but also help in preventing the misuse of telecom resources.

Adherence to Regulations: Mobile Phone Users Beware

• It is imperative to note that unauthorized utilization of mobile phone numbers for any illicit activities can lead to immediate disconnection and the blacklisting of the user's information for a period of two years.
• Compliance with regulations is crucial for maintaining the integrity of the telecom ecosystem and ensuring the security of all users.

Central Council for Research in Ayurvedic Sciences to Launches PRAGATI-2024

• The Central Council for Research in Ayurvedic Sciences (CCRAS) has launched the Pharma Research in AyurGyan And Techno Innovation (PRAGATI-2024) initiative to foster research and innovation in Ayurveda.

Collaborative Efforts for Advancement

• PRAGATI-2024 aims to facilitate collaborative research between CCRAS and the Ayurveda drug industry, fostering growth and innovation in the sector.

Notable Figures at Launch Event

• Prominent figures including Vaidya Rajesh Kotecha, Rabinarayan Acharya, and Koustubha Upadhaya attended the launch event, highlighting the initiative's importance.

Emphasis on Research and Innovation

• Vaidya Rajesh Kotecha emphasized the significance of research and innovation in driving the growth of the ayurveda industry, expressing confidence in emerging practitioners and startups.

Milestone for Ayurvedic Sciences

• PRAGATI-2024 signifies a significant milestone for the ayurveda industry, poised to catalyze growth and advancement through robust research collaboration.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Russia to Construct Central Asia's First Nuclear Power Plant in Uzbekistan       

• Russia will build the first nuclear power plant in post-Soviet Central Asia, specifically in Uzbekistan.
• The announcement was made by Uzbek President Shavkat Mirziyoyev during a meeting with Russian President Vladimir Putin.

Key Highlights :

• Significance of the Nuclear Deal:The deal highlights Russia's capability to export energy and high-tech products to Asian markets.
• This comes at a time when Russia faces increased sanctions and pressure from the West.
• Financial Details:Russia will contribute $400 million to a joint investment fund totaling $500 million to finance projects in Uzbekistan.
• Project Specifications:The Russian state nuclear firm Rosatom will construct up to 6 nuclear reactors.
• Each reactor will have a capacity of 55 megawatts.
• This project is smaller in scale compared to a previous 2.4 gigawatt project agreed upon in 2018, which has yet to be finalized.
• Regional Context:None of the five ex-Soviet Central Asian republics (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan) currently have nuclear power plants.
• Both Uzbekistan and Kazakhstan are uranium producers and have expressed the need for nuclear power to support their growing economies.

About Russia :

• President :Vladimir Putin
• Prime Minister :Mikhail Mishustin
• Capital :Moscow
• Currency :Ruble

About Uzbekistan :

• President :Shavkat Mirziyoyev
• Prime Minister :Abdulla Aripov
• Capital :Tashkent
• Currency :Uzbek som

CURRENT AFFAIRS : STATE NEWS

Telangana Government to Unveil State Emblem on June 2

• Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao opposed the Telangana government's decision to exclude images of Charminar and Kakatiya Arch from the new state emblem to be launched on June 2nd, the State formation day.
• He warned of agitation if these images are removed.
• The Congress government in Telangana plans to unveil a new state emblem on June 2nd, arguing that the present emblem featuring Kakatiya Arch and Charminar reflects feudalism and autocratic rule.
• The new emblem, designed by artist Rudra Rajesham, will reportedly include symbols of tribal goddesses Sammakka and Sarakka, and the Nagoba festival of the tribals.
• Alongside the emblem, a new state song is also being finalized for launch on June 2nd.
• Before the elections, the Chief Minister promised that 'Jaya Jayahe Telangana', a song popular during the Telangana struggle, would be the State song if the Congress came to power.
• The choice of Oscar-winning music director M. Keeravani to compose the state song has stirred controversy, with some opposition leaders and artists opposing Keeravani's composition due to his roots in Andhra Pradesh.

About Telangana:

• Capital: Hyderabad
• Governor: C.P. Radhakrishnan
• Chief minister: Revanth Reddy
• National Park : Mrugavani National Park, KBR National Park, Nehru Zoological Park
• Wildlife Sanctuary : Kinnerasani Wildlife Sanctuary, Eturnagaram Wildlife Sanctuary.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Sony Pictures Networks India Appoints Disney’s Gaurav Banerjee as New Chief Executive Officer, Succeeding NP Singh

• Sony Corporation appointed Gaurav Banerjee as the new CEO of its India unit, Sony Pictures Networks India (SPNI), replacing NP Singh, who resigned after 25 years with the company.
• Banerjee previously worked at Disney Star, where he oversaw content for Hindi entertainment and Disney+ Hotstar, and served as the business head for Star Bharat, as well as Hindi and English movies, kids & infotainment, and regional (east) channels.

About Gaurav Banerjee :

• Banerjee began his career as a journalist at Aaj Tak and joined Star News in 2004 as a prime-time anchor and senior producer.
• He played a key role in launching the Bengali news channel Star Ananda in 2005, became head of content strategy for Star Plus in 2009, and was promoted to general manager of Star Plus in 2013.
• He led the Content Studio starting in 2015.
• Sony operates 26 channels in India, covering general entertainment, sports, and movies, and also runs a streaming service.
• This year, Sony cancelled a planned merger with India's Zee Entertainment, which would have created a $10-billion enterprise.

About Sony Pictures Networks India (SPNI) :

• Founded : 30 September 1995
• Headquarters : Mumbai, Maharashtra, India
• Culver Max Entertainment Private. Limited., trading as Sony Pictures Networks India (SPN or SPNI), is an Indian media conglomerate owned by Sony Pictures Television.

About Sony Group Corporation :

• Founded : 7 May 1946
• Headquarters : Kōnan, Minato, Tokyo, Japan
• Chairman &CEO :Kenichiro Yoshida

CURRENT AFFAIRS: AWARDS AND HONOURS

NHPC receives 'The Economic Times HR World Future Ready Organization Award 2024-25', a prestigious recognition.

• NHPC, India’s premier hydropower company, has been honoured with the esteemed ‘The Economic Times HR World Future Ready Organization Award 2024-25’.
• This significant accolade underscores NHPC’s steadfast dedication to nurturing a workforce prepared for the future and its strategic approach to human resource management.

Emphasizing Employee Growth and Development

• The award recognizes NHPC’s holistic endeavours in enhancing employee skills, implementing Environmental, Social, and Governance (ESG) measures, advocating for Diversity, Equity & Inclusion (DE&I), and embracing continual technological advancements.
• These initiatives, alongside robust employee engagement practices and effective corporate governance strategies, have established NHPC as a trusted entity among all stakeholders.

Celebrating Achievement at an Extravagant Event

• The esteemed accolade was accepted by NHPC's Director (Personnel), Shri Uttam Lal, alongside Executive Director (HR), Shri Lucas Guria, and a delegation of NHPC officers, during a lavish awards ceremony in Mumbai.
• This event provided a stage to honour organizations showcasing progressive human resource management and organizational development strategies.

CURRENT AFFAIRS: MOUS AND AGREEMENT

OpenAI signs content deal with NewsCorp for AI training

• News Corp has partnered with OpenAI to revolutionize news dissemination through AI technologies.
• This collaboration will allow OpenAI to utilize both current and archived news content from News Corp’s extensive portfolio over several years.
• OpenAI is renowned for developing influential AI models.
• Sam Altman-led OpenAI has signed content and product partnerships with The Atlantic and Vox Media, helping the artificial intelligence firm to boost and train its products.

Details of the News Corp and OpenAI Partnership

• Under this agreement, OpenAI will have access to a vast archive of content from prominent News Corp publications, including The Wall Street Journal, Barron’s, and the New York Post.
• Unlike previous deals focused mainly on training AI models, this partnership allows OpenAI to use News Corp’s material to answer user queries.
• Financial details remain undisclosed, but the deal is estimated to be worth over $250 million over five years.

Broader Context of Media Companies Collaborating with AI

• News Corp is not alone in this trend; other major news organizations like The Associated Press, Axel Springer, and The Financial Times have also licensed their content to AI firms, primarily for training purposes.
• This indicates a growing interest among news organizations in leveraging AI to expand their reach and adapt to technological advancements.

Implications of the Partnership

• OpenAI CEO Sam Altman suggests that this collaboration could pave the way for more partnerships between journalism and AI, aiming to maintain high journalistic standards in AI applications.
• Moody’s has viewed the deal positively, suggesting potential financial and technological benefits for News Corp.
• This evolving nature of partnerships signifies a significant shift in how news content is utilized and shared, pointing towards a digital future where AI enhances the news industry’s resilience.

CET, IIT Madras bag patent for inventing a non-intrusive voltage measuring device

• The Indian Institute of Technology Madras (IIT Madras) and the College of Engineering Thiruvananthapuram (CET) have achieved a significant breakthrough in electrical measurement technology.
• Their collaborative efforts have resulted in a patented device capable of measuring voltage without physical contact, marking a substantial advancement in the field of electrical engineering.

Patent Recognition: Non-Intrusive Voltage Measurement

• The Indian Patent Office has granted a patent for the project titled "An instrumentation system with a fully non-intrusive probe for AC voltage measurement.
• This recognition underscores the innovative nature of the device developed through joint efforts by Boby George, Head of the Department of Medical Sciences and Technology at IIT Madras, and P.S. Shenil, Associate Professor in the Department of Electrical and Electronics Engineering at Government Engineering College, Barton Hill. Notably, Dr. Shenil brings prior experience from CET to this collaboration.

A Leap in Safety and Efficiency

• This new invention represents a significant leap forward, enabling voltage measurement without physical contact.
• By eliminating the need for direct contact, the device enhances safety and efficiency in electrical measurement practices, paving the way for advancements in various applications within the field of electrical engineering.

What is a Contactless voltage measurement device?

• A contactless voltage measurement device, also known as a non-contact voltage tester (NCVT), is a tool designed to detect electrical voltage without requiring direct contact with conductors.
• They are capable of distinguishing between alternating current (AC) and direct current (DC) power and operate by detecting changes in electromagnetic fields. Advanced features in NCVTs enable users to adjust sensitivity levels for precise detection of electronic devices.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research & Development Organisation Successfully Flight-Tests RudraM-II Air-to-Surface Missile from Su-30 MK-I off Odisha Coast     

• The Defence Research & Development Organisation (DRDO) successfully flight-tested the RudraM-II air-to-surface missile from the Su-30 MK-I platform of the Indian Air Force (IAF) off the Odisha coast at approximately 1130 hours.
• The flight test met all trial objectives, validating the missile's propulsion system and control & guidance algorithm.

About RudraM-II :

• RudraM-II is an indigenously-developed solid-propelled air-launched missile system meant for Air-to-Surface role to neutralise many types of enemy assets.
• A number of state-of-the-art indigenous technologies developed by various DRDO laboratories have been incorporated in the missile system.
• The RudraM-II missile possesses a range of 300 km and is equipped with precision target-seeking capabilities.
• It is adaptable for use on multiple platforms, including the Mirage 2000.
• Additionally, it can achieve speeds of up to Mach 5.5 and carry a payload of 200 kg.
• The performance of the missile has been validated from the flight data captured by range tracking instruments like electro-optical systems, radar and telemetry stations deployed by Integrated Test Range, Chandipur at various locations, including the on-board ship.

About DRDO :

• Established : 1958
• Headquarters : New Delhi, India
• Chairman : Dr. Samir V Kamat
• The DRDO is an agency under the Department of Defence Research and Development in the Ministry of Defence of the Government of India (GoI).

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State :Ajay Bhatt
• Defence Secretary : Giridhar Aramane

CURRENT AFFAIRS: SPORTS NEWS

Charles Leclerc achieves a historic victory at the Monaco Grand Prix.

• Charles Leclerc, the Ferrari driver, has made history by becoming the first Monegasque driver to win the Monaco Grand Prix since Louis Chiron in 1931, ending a remarkable drought of 92 years.

Chaotic Race Overcomes Hurdles

• Leclerc's victory, his first since the 2022 Austrian Grand Prix, came after a chaotic race characterised by two standing starts and multiple first-lap collisions. Despite these challenges, the 26-year-old driver, who had previously struggled to secure a podium finish in six attempts at the iconic race, started from pole position and maintained control throughout.

Dominant Performance on Narrow Street Circuit

• The narrow confines of Monaco's street circuit are renowned for limited overtaking opportunities, playing to Leclerc's strengths.
• McLaren's Oscar Piastri finished second, trailing Leclerc by 7.1 seconds, while Ferrari's Carlos Sainz secured third place.

2024 Grand prix Winners:

GRAND PRIX	WINNER	CAR
Bahrain	Max Verstappen	RED BULL RACING HONDA RBPT
Saudi Arabia	Max Verstappen	RED BULL RACING HONDA RBPT
Australia	Carlos Sainz	FERRARI
Japan	Max Verstappen	RED BULL RACING HONDA RBPT
China	Max Verstappen	RED BULL RACING HONDA RBPT
Miami	Lando Norris	MCLAREN MERCEDES
Emilia Romagna	Max Verstappen	RED BULL RACING HONDA RBPT
Monaco	Charles Leclerc	FERRARI

Dipa Karmakar secures a historic gold medal at the Asian Gymnastics Championships.

• Historic Achievement: Dipa Karmakar secures India's first-ever gold at the Asian Championships.
• Vault Individual Final: Remarkable performance in Tashkent earns her the coveted medal.

Stellar Performance

• Exceptional Display: Dipa scores an average of 13.566 points, clinching gold in the women's vault.
• Tough Competition: Silver and bronze medals claimed by North Korean athletes with impressive scores.

Olympic Quest

• Narrow Miss: Dipa falls short of securing an Olympic quota despite her victory.
• All-Round Performance: Finishing 16th overall leaves her just shy of qualification for Paris Summer Olympics.

Indian Medalists Shine at Asian Championships

2006, Surat

• Ashish Kumar's Bronze: Secures bronze in individual floor exercise final, showcasing India's talent.

2015, Hiroshima

• Dipa Karmakar's Debut: Wins bronze in vault individual final, marking a significant milestone.

2019, Ulaanbaatar

• Pranati Nayak's Achievement: Claims bronze in vault individual final, adding to India's medal tally.

2022, Doha

• Pranati Nayak's Repeat Performance: Secures bronze in vault individual final, showcasing consistency.

2024, Tashkent

• Dipa Karmakar's Historic Gold: Makes history with India's first-ever gold in vault individual final.

About Dipa Karmakar: India's Inspirational Gymnast

Early Life and Stature

• Triumphant Journey: From Tripura, Dipa Karmakar stands tall at 4 feet 11 inches, defying odds with her remarkable achievements.

International Successes

• Commonwealth Glory (2014): Claims bronze at Glasgow Commonwealth Games, marking her international debut.
• Olympic Trailblazer (2016): Makes history as first Indian woman gymnast to qualify for Summer Olympics, finishing fourth in vault at Rio Olympics.

Global Triumphs

• Golden Moment (2018): Secures India's first-ever gold at a global gymnastics event, triumphing at FIG World Cup in Mersin, Turkey.
• Continued Excellence: Adds bronze at 2018 Artistic Gymnastics World Cup in Germany to her impressive resume.

Awards and Accolades

• Highest Sporting Honor: Receives Rajiv Gandhi Khel Ratna Award in 2016, recognizing her outstanding contributions to Indian sports.
• Civilian Recognition: Honoured with Padma Shri in 2017, underscoring her excellence in gymnastics and inspiring millions.

Hayley Matthews And Muhammad Waseem Named ICC Players Of The Month For April 2024

• Hayley Matthews, the captain of the West Indies team, has been awarded the ICC Women’s Player of the Month for her outstanding all-round performances that were instrumental in the West Indies’ triumph in Pakistan across both the ODI and T20I series.

Versatile Excellence in Various Formats

• Matthews clinches her third ICC Women’s Player of the Month title following a series of remarkable all-round performances in April, amassing 451 runs and claiming 12 wickets across ODIs and T20Is.

Setting the Momentum with Dominant Displays

• The West Indies skipper made a statement early on with an unbeaten 140 runs and three wickets in the opening ODI, followed by a splendid 141-run inning and two wickets in the third ODI, sealing a series clean sweep.
• In the ensuing T20I series, Matthews solidified her position as the top-ranked Women’s T20I all-rounder, scoring consecutive half-centuries and grabbing six wickets, motivating her team to a resounding 4-1 series victory.

Muhammad Waseem: ICC Men’s Player of the Month

• Muhammad Waseem, the captain and opener for the UAE team, has been honoured as the ICC Men’s Player of the Month for his remarkable batting prowess that propelled the UAE to victory in the ACC Premier Cup.

Explosive Batting Showcase

• Waseem becomes the first UAE player to claim this accolade, courtesy of a series of powerful batting performances that led his team to clinch the ACC Premier Cup in Oman.
• Throughout the month, the opener accumulated 269 runs at an average of 44.83, including a dazzling century off just 56 balls in the final against the hosts.
• With an impressive strike rate of 182.99, Waseem showcased his explosive batting skills consistently during the UAE’s campaign, with impactful innings against Bahrain, Oman, and Cambodia.

CURRENT AFFAIRS: IMPORTANT DAYS

World No Tobacco Day 2024 - May 31

• World No Tobacco Day is observed every year on May 31.
• This day is also known as World Anti-Tobacco Day.
• World No Tobacco Day is to spread awareness to the people about the harmful effects of tobacco which causes cancer, lung disease, etc.

Theme

• The theme for World No Tobacco Day 2024 is "Protecting children from tobacco industry interference".

World No Tobacco Day History

• World No Tobacco Day is one of the public health campaigns organized by the World Health Organization.
• In 1987, the World Health Assembly passed a resolution called “World No Smoking Day”.
• The main objective of this day was to urge tobacco users to withdraw tobacco products.
• In 1988, the World Health Assembly celebrated May 31 as World No Tobacco Day.
• In 1998, the World Health Organization established the Tobacco-Free Initiative (TFI) to focus on global health issues of tobacco.
• In 2008, on World No Tobacco Day, the World Health Organization (WHO) called for a ban on all tobacco products, advertisements, promotions, and sponsorship.

Daily CA One- Liner: May 31

• The Reserve Bank of India (RBI) imposed business restrictions on Edelweiss Asset Reconstruction Company (EARCL) and ECL Finance due to material concerns observed during supervisory examinations.
• HDFC Bank has informed the customers it will stop sending SMS alerts for any UPI (Unified Payments Interface) payment spent below Rs 100 or receipt of money less than Rs 500.
• The Reserve Bank of India (RBI) imposed a fine of Rs 36.38 lakh on foreign lender HSBC for Foreign Exchange Management Act (FEMA) violations.
• The Asian Development Bank (ADB) committed $2.6 billion in sovereign lending to India in 2023 for projects that aim to strengthen urban development, support industrial corridor development, promote power sector reforms, build India’s climate resilience, support horticulture, and enhance connectivity.
• Axis Bank, in partnership with Mastercard, has introduced the NFC Soundbox, a new payment solution.
• Russia will build the first nuclear power plant in post-Soviet Central Asia, specifically in Uzbekistan.
• Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao opposed the Telangana government's decision to exclude images of Charminar and Kakatiya Arch from the new state emblem to be launched on June 2nd, the State formation day.
• Sony Corporation appointed Gaurav Banerjee as the new CEO of its India unit, Sony Pictures Networks India (SPNI), replacing NP Singh, who resigned after 25 years with the company.
• The Defence Research & Development Organisation (DRDO) successfully flight-tested the RudraM-II air-to-surface missile from the Su-30 MK-I platform of the Indian Air Force (IAF) off the Odisha coast at approximately 1130 hours.
• The Department of Telecom (DoT) and the Ministry of Home Affairs (MHA) have initiated decisive measures under the Sanchar Saathi program in response to a surge in SMS fraud
• The Central Council for Research in Ayurvedic Sciences (CCRAS) has launched the Pharma Research in AyurGyan And Techno Innovation (PRAGATI-2024) initiative to foster research and innovation in Ayurveda
• NHPC, India’s premier hydropower company, has been honoured with the esteemed ‘The Economic Times HR World Future Ready Organization Award 2024-25’.
• News Corp has partnered with OpenAI to revolutionize news dissemination through AI technologies.
• Charles Leclerc, the Ferrari driver, has made history by becoming the first Monegasque driver to win the Monaco Grand Prix since Louis Chiron in 1931, ending a remarkable drought of 92 years.
• The Indian Institute of Technology Madras (IIT Madras) and the College of Engineering Thiruvananthapuram (CET) have achieved a significant breakthrough in electrical measurement technology
• Historic Achievement: Dipa Karmakar secures India's first-ever gold at Asian Championships
• Hayley Matthews, the captain of the West Indies team, has been awarded the ICC Women’s Player of the Month for her outstanding all-round performances that were instrumental in the West Indies’ triumph in Pakistan across both the ODI and T20I series
• World No Tobacco Day is observed every year on May 31.