May 10

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INDEX
National & States Affairs ……………………….………………………………………………………..…….. 5
Banking, Finance, Inusrance & Economic Affairs …………………………………………………….. 7
Science & Technology …………..……………………..………………………………………………………… 8
Schemes & Initiatives ………..……………………..…………………………………………………………… 9
Ranks, Reports & Surveys …………………………………………………………………….………………. 9
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National & States Affairs
1. K. Sanjay Murthy, Secretary of Department of Higher Education, under Ministry of Education, has launched the
“Capacity Building on Design and Entrepreneurship (CBDE)” program for Higher Education Institutes (HEIs). The capacity
building program is designed to equip identified HEIs and faculty members to focus on design and entrepreneurship
development in their institution with the support of mentors from industry. More than 130 participants virtually attended
the meeting. 30 HEIs have been selected through a process anchored by the Indian Institute of Information Technology,
Design and Manufacturing (IIITDM), Kancheepuram. A Malaviya Mission Teacher Training Center (MMTTC) is the nodal
center for the program. Manoj Kohli is the Chairperson of Program Advisory Council, CBDE. {Read more}
Smart Points:
• MoE – launched “Capacity Building on Design and Entrepreneurship (CBDE)” program for Higher Education Institutes
• 30 HEIs have been selected through a process, anchored by IIITDM Kancheepuram
• Nodal center for the program – Malaviya Mission Teacher Training Center (MMTTC)
• Minister of Education: Dharmendra Pradhan | Constituency – Madhya Pradesh
• MoS in Ministry of Education: Subhas Sarkar
2. The government is planning to introduce the draft “Explosives Bill, 2024”, as a replacement for the “Explosives Act,
1884”, which it aims to revoke. The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed raising
fines for violation of regulations and enhancing the efficiency of licensing procedures. Explosives encompass gunpowder,
nitroglycerin, nitroglycol, dinitrotoluene, and picric acid. According to the proposed Explosives Bill 2024, the Union
government will designate the authority responsible for granting, suspending, or revoking licences. Currently, the
Petroleum and Explosives Safety Organisation (PESO), operating under the DPIIT, is the regulatory body responsible for
issuing licences for the manufacture, possession, use, sale, import, and export of any explosive material. Under the
provisions of the draft bill, if a licensee engages in manufacturing, importing, or exporting in violation of any regulations,
they may face imprisonment for up to 3 years, a fine of Rs 1,00,000, or both. In contrast, the current Explosives Act
stipulates a prison term of 3 years and a fine of Rs 50,000 for such violations. Under the provisions of the new bill, if
someone is found in possession, using, selling, or transporting any explosive in violation of the regulations, they may face
imprisonment for up to 2 years, a fine of Rs 50,000, or both. In the current legislation, the fine stands at Rs 3,000. {Read
more}
Smart Points:
• Government plans to introduce the draft “Explosives Bill, 2024”, to replace the “Explosives Act, 1884”
• DPIIT has proposed raising fines for violation of regulations & enhancing the efficiency of licensing procedures
• PESO (under DPIIT) – is the regulatory body responsible for issuing licences for the manufacture, possession, use,
sale, import, and export of any explosive material
• Under the provisions of the draft bill:
- if a licensee engages in manufacturing, importing, or exporting in violation of any regulations, they may face
imprisonment for up to 3 years, a fine of Rs 1,00,000, or both
- if someone is found in possession, using, selling, or transporting any explosive in violation of the regulations,
they may face imprisonment for up to 2 years, a fine of Rs 50,000, or both
• HQs of DPIIT – New Delhi | Director – Pratima Singh | Founded in – 1995 (Functions under Ministry of C&I)
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3. Bajaj Auto announced to launch world’s first CNG-powered motorcycle on June 18, 2024. With
this upcoming model, Bajaj will be aiming to cater to cost-conscious customers amidst rising fuel
prices by introducing a portfolio of CNG-powered motorcycles. The prototype of Bajaj’s CNG
motorcycle resembles a typical commuter bike. It features halogen turn indicators, telescopic forks,
and a monoshock unit for suspension. {Read more}
Smart Points:
• Bajaj Auto – to launch world’s first CNG-powered motorcycle (in June’24)
• HQs of Bajaj Auto – Pune, Maharashtra | CEO – Rajiv Bajaj
4. The Department of Telecommunications (DoT), under Ministry of Communications, organised the first-of-its-kind
“Telecom Design Collaboration Sprint” at IIIT Bangalore to bring together 15 leading startups/MSME in the Radio Access
Network (RAN), core ecosystems, institutions such as IIT Madras, C-DOT, IIT Delhi and other network entities. The sprint
was driven by three primary objectives: Leveraging collective strengths, Fostering holistic solutions, and Creating market
opportunities. The DoT aims at creating a robust and forward-looking mobile telecom stack with an emphasis on
advancing towards 6G technology. {Read more}
Smart Points:
• DoT – organised first-of-its-kind “Telecom Design Collaboration Sprint” at IIIT Bangalore
• Primary objectives: Leveraging collective strengths, Fostering holistic solutions & Creating market opportunities
• Minister of Communications: Ashwini Vaishnaw | Constituency – Odisha
MoS in Ministry of Communications: Devusinh Chauhan
5. Ministry of Tourism took part in the “Arabian Travel Mart 2024”, held in Dubai from May 6
to 9 May 2024. Ministry of Tourism launched the “Cool Summers of India” campaign to
promote the country as a destination for tourism during the year. The campaign has been
launched by India’s government to attract tourism in the Middle East. The campaign aims to
highlight the lesser-known destinations of the country like hill resorts, including the Himalayas.
{Read more}
Smart Points:
• Ministry of Tourism – took part in the “Arabian Travel Mart 2024”, held in Dubai, UAE
• Ministry of Tourism – launched the “Cool Summers of India” campaign to attract tourism in the Middle East
• Minister of Tourism: G. Kishan Reddy | Constituency – Secunderabad, Telangana
• MoS in Ministry of Tourism: Shripad Yesso Naik & Ajay Bhatt
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Banking, Finance, Insurance & Economic Affairs
6. The Indian Renewable Energy Development Agency Ltd (IREDA) has incorporated a wholly-owned subsidiary in the
International Financial Services Centre (IFSC) located in GIFT City, Gujarat. The subsidiary, named “IREDA Global Green
Energy Finance IFSC Limited,” was officially incorporated on May 7, after receiving the No Objection letter from the RBI on
February 8, 2024. IREDA’s entry into the IFSC is anticipated to unlock fresh business prospects and establish its global
footprint in the renewable energy sector. Recently, REC Ltd also received an NOC from RBI for setting up a subsidiary in
GIFT City. {Read more}
Smart Points:
• IREDA – incorporated a wholly-owned subsidiary “IREDA Global Green Energy Finance IFSC Ltd” in GIFT City, Gujarat
• Recently, REC Ltd also received an NOC from RBI for setting up a subsidiary in GIFT City
• HQs of IREDA – New Delhi | CMD – Pradip Kumar Das | Motto – “Energy for Ever” | Founded – 1987
7. The International Financial Services Centre (IFSC) Authority has granted permission to Foreign
Portfolio Investors (FPIs) to issue ‘Derivative Instruments’ with Indian securities as underlying assets
in the GIFT-IFSC. A derivative is an instrument whose value is derived from the value of one or more
underlying assets, which can be commodities, precious metals, currency, bonds, stocks, stocks
indices, etc. Non-bank entities registered with SEBI as FPIs are also permitted to issue Derivative
Instruments in the GIFT-IFSC. Furthermore, the entity is mandated to furnish requisite information to
the Clearing Corporations in GIFT-IFSC in the prescribed format by the 10th day of every month.
{Read more}
Smart Points:
• IFSC Authority – granted permission to Foreign Portfolio Investors (FPIs) to issue ‘Derivative Instruments’ in GIFT-
IFSC
• Derivative: an instrument whose value is derived from the value of one or more underlying assets
• Entity is mandated to furnish requisite information to the Clearing Corporations in GIFT-IFSC in the prescribed
format by the 10th day of every month
• HQs of IFSCA – Gandhinagar, Gujarat | Chairman – K. Rajaraman | Established – 2020
8. ICICI Bank has surpassed Rs 8-trillion market cap, becoming the 2nd largest bank after HDFC Bank. It also entered into
the league of the top five companies by market value. Reliance Industries maintains its position as the most-valued Indian
company, with a market capitalisation of Rs 19.8 trillion, followed by Tata Consultancy Services (Rs 14 trillion), HDFC Bank
(Rs 11.6 trillion), State Bank of India (Rs 7.4 trillion), and ICICI Bank (Rs 8.14 trillion). {Read more}
Smart Points:
• ICICI Bank – surpassed Rs 8-trillion market cap, becoming 2nd largest bank after HDFC Bank
• It also entered into league of top 5 companies by market value
• Most-valued Indian company with m-cap – Reliance Industries (Rs 19.8 tn)
- 2nd – TCS (Rs 14 tn) | 3rd – HDFC Bank (Rs 11.6 tn) | 4th – SBI (Rs 7.4 tn) | 5th – ICICI Bank (Rs 8.14 tn)
• HQs of ICICI Bank – Mumbai | MD & CEO – Sandeep Bakhshi | Taglines – “Hum Hain Na!” & “Khayal Apka”
https:// /#
9. HDFC Bank, India’s leading private sector bank, has announced the winners of its “Parivartan Start-up Grants
Programme” for FY2024. This year, 41 incubators and accelerators in the field of social impact entrepreneurship will
receive grants totaling Rs 19.6 crore to support 170 start-ups working across specific focus areas. This year’s programme is
undertaken in partnership with Atal Innovation Mission (AIM), a Government of India initiative under NITI Aayog. The
focus areas for the 2024 grants include Climate Innovation, Financial Inclusion, Agriculture and Sustainable Rural Economy,
Accessible and Affordable Healthcare, Education and Livelihood Enhancement, Gender Diversity and Inclusion. The start-
ups that have received grants come from various states across India, with the largest number originating from
Maharashtra. {Read more}
Smart Points:
• HDFC Bank – announced winners of its “Parivartan Start-up Grants Programme” for FY24
• 41 incubators & accelerators in field of social impact entrepreneurship will receive grants of Rs 19.6 Cr to support
170 start-ups working across specific focus areas
• It was undertaken in partnership with – Atal Innovation Mission (NITI Aayog)
• The largest number of start-ups receiving grants are from – Maharashtra
• HQs of HDFC Bank – Mumbai, MH | MD & CEO – Sashidhar Jagdishan | Tagline – “We understand your World”
Science & Technology

10. Pakistan, in collaboration with China, launched its first-ever lunar mission, “iCube-
Qamar”, from the Chinese city of Hainan. The satellite will orbit the moon as part of
Beijing’s ‘Chang’e-6’ space mission. The satellite was launched aboard a Chinese Long
March5 Y8 rocket. Pakistan’s Institute of Space Technology (IST), in collaboration with
China’s Shanghai University and Pakistan national space agency SUPARCO, jointly
developed the iCUBE-Q or CubeSat. CubeSats are miniature satellites typically
characterised by their small size and standardised design. iCUBE-Q will also collect data on
the lunar magnetic field, establish a lunar magnetic field model, and lay the groundwork for future missions and
international lunar cooperation. {Read more}
Smart Points:
• Pakistan + China = launched its first-ever lunar mission, “iCube-Qamar”, from Hainan (as part of ‘Chang’e-6’)
• It was launched aboard a Chinese rocket ‘Long March5 Y8’
• Institute of Space Technology (Pakistan) + Shanghai University (China) + SUPARCO (Pakistan) = jointly developed
iCUBE-Q or CubeSat
• Pakistan – Islamabad – Pakistani Rupee | PM – Shehbaz Sharif | President – Asif Ali Zardari
• China – Beijing – Renminbi | President – Xi Jinping | PM – Li Qiang
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Schemes & Initiatives
11. Kerala government has decided to become part of the Centre’s “Scheme for Modernisation and Reforms through
Technology in Public Distribution System (SMART-PDS)”. The SMART-PDS initiative is envisaged to prevent food grain
leakage and increase the efficiency of the distribution chain. The technology-based initiative aims at bringing the food
distribution network of all States under a single platform. It will also integrate related operations of agencies, including
Food Corporation of India (FCI) and Central Warehousing Corporation (CWC). The platform will enable authorities to
monitor food grain movement at various levels, from procurement to distribution, on a real-time basis. Ministry of
Consumer Affairs, Food and Public Distribution had estimated a project cost of Rs 349.9 crore for the period from 2023-
2026. The Union and State governments will bear the cost of the scheme in the ratio of 60:40. {Read more}
Smart Points:
• Kerala – to become part of the Centre’s “Scheme for Modernisation and Reforms through Technology in Public
Distribution System (SMART-PDS)”
• ‘SMART-PDS’ is envisaged to prevent food grain leakage and increase the efficiency of the distribution chain
• Estimated outlay of the scheme for the period from 2023-2026 – Rs 349.9 crore
• The cost of the scheme will be born by the Central & State Govt in the ratio of – 60:40
• Kerala: Capital – Thiruvananthapuram | CM – Pinarayi Vijayan | Governor – Arif Mohammad Khan
Ranks, Reports & Surveys

12. India is the origin of the largest number of international migrants, nearly
18 million, with large diasporas in UAE, US and Saudi Arabia. And it continues
its march as the top country receiving remittances from its diaspora. In 2022,
India received $111 billion in all, the first country to reach and even surpass
the $100-billion mark, according to the “World Migration Report, 2024” by
the UN’s International Organisation for Migration (IOM). India, Mexico and
China were the top three remittance recipient countries in 2022, followed by the Philippines, France and Pakistan.
Migrants sent an estimated $831 billion in international remittances globally in 2022. The Mexico-to-US corridor is the
largest in the world at nearly 11 million people. The India-UAE corridor is the fourth largest. There were 3.47 million
Indians in UAE, followed by 2.7 million in the US, and 2.5 million in Saudi Arabia. {Read more}
Smart Points:
• “World Migration Report, 2024” – released by UN’s IOM
• India – origin of largest number of international migrants, nearly 18 mn, with large diasporas in UAE, US & Saudi
Arabia
• In 2022, India received $111 billion in all, first country to reach & even surpass the $100-billion mark
• Top remittance recipient countries in 2022 – India, Mexico, China, Philippines, France & Pakistan
• Migrants sent an estimated $831 billion in international remittances globally in 2022
• Mexico-to-US corridor – the largest in world at nearly 11 million people | India-UAE corridor – 4th largest
• Indians abroad: 3.47 million in UAE, 2.7 million in US & 2.5 million in Saudi Arabia
• HQs of IOM – Geneva, Switzerland | Director General – Amy E. Pope
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13. Due to rapid solar energy deployment in the country, India has overtaken
Japan to become the world’s third-largest solar power generator in 2023,
according to the “Global Electricity Review” published by a global energy
think tank, Ember. Top 5 solar power-generating countries in the world in
2023 are China, USA, India, Japan & Germany. Solar produced a record 5.5%
of global electricity in 2023. In line with the global trend, India generated
5.8% of its electricity from solar in 2023. India saw the world’s fourth-largest
increase in solar generation in 2023 (+18 terawatt hour or TWh), behind
China (+156 TWh), the United States (+33 TWh) and Brazil (+22 TWh). According to the International Energy Agency’s (IEA)
“Net Zero Emissions” scenario, solar would increase to 22% of global electricity generation by 2030. {Read more}
Smart Points:
• “Global Electricity Review” – published by Ember (London, UK)
• India – overtook Japan to become world’s 3rd largest solar power generator in 2023
• Top 5 solar power-generating countries in 2023: China, USA, India, Japan & Germany
• Electricity produced from solar in 2023: Global – 5.5% | India – 5.8%
• India – saw world’s 4th largest increase in solar generation in 2023 (+18 terawatt hour or TWh)
- 1st – China (+156 TWh) | 2nd – United States (+33 TWh) | 3rd – Brazil (+22 TWh)
• According to IEA’s “Net Zero Emissions” scenario, solar would increase to 22% of global electricity generation by 2030
❖ Other Miscellaneous News & Current Static GK:

• Keetham Bird Sanctuary – Uttar Pradesh
• Dandeli Anshi Tiger Reserve – Karnataka
• Okavango Delta – Botswana
• May 2 – World Password Day (1st Thursday of May)
• May 5 – International Day of the Midwife
(Theme - “Midwives: A Vital Climate Solution”)
• May 7 – World Athletics Day
(Theme - “World Mile Challenge”)
• May 7 – 65th Raising Day of Border Roads Organisation (BRO)
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A GLIMPSE OF SOME GENUINE TESTIMONIALS
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A GLIMPSE OF SOME GENUINE TESTIMONIALS
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ippines – Manila – Peso | President – Ferdinand Marcos Jr
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