20 May 2024 Current Affairs in English

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Today’s Current Affairs – 20 May 2024

20 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 20 May 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 20 May Current Affairs lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

20th May Daily Current Affairs 2024

20 May 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 20 May 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

World Bee Day 2024

World Bee Day is celebrated each year on 20 May to raise awareness of the importance of bees as pollinators, the threats they face, and their contribution to sustainable development.

For centuries bees, among the hardest working creatures on the planet, have benefited people, plants, and the environment. By carrying pollen from one flower to another, bees and other pollinators enable not only the production of an abundance of fruits, nuts, and seeds but also more variety and better quality, contributing to food security and nutrition.  To raise awareness of the importance of pollinators, the threats they face, and their contribution to sustainable development, the United Nations designated 20 May as World Bee Day.

World Bee Day Theme 2024

In recognition of the pivotal role that youth can play in addressing challenges bees and other pollinators are facing, World Bee Day 2024 focuses on the theme “Bee Engaged with Youth.” This theme highlights the importance of involving young people in beekeeping and pollinator conservation efforts, recognizing them as the future stewards of our environment.

This year’s campaign aims to raise awareness among youth and other stakeholders about the essential role of bees and other pollinators in agriculture, ecological balance, and biodiversity preservation. By engaging young people in beekeeping activities, educational initiatives, and advocacy efforts, we can inspire a new generation of environmental leaders and empower them to make a positive impact on the world.

Sri Sri Ravi Shankar Receives First Stamp Released Commemorating Completion Of 200 Years Of Indian Origin Tamils In Sri Lanka

Department of Posts, Ministry of Communications & IT has brought out a Commemorating Postage Stamp on Srimath Anagarika Dharmapala, the great Buddhist thinker and visionary from Sri Lanka. Indian spiritual guru Sri Sri Ravi Shankar received the first stamp released commemorating the completion of 200 years of Indian Origin Tamils in Sri Lanka.

The Minister highlighted that Swami Vivekanand and Srimath Anagarika Dharmapala together represented the two great religions at the World Parliament of Religions held in Chicago in 1893.

Student Enrollment Under SC Category Grows By 44%

The student enrollment under the Scheduled Caste category has grown by 44%, from 46 lakh in 2014-15 to 66 lakh in 2021-22. According to a report of the National Commission for Backward Class, minority female student enrollment also witnessed over 42% increase, from over 10 lakh in 2014-15 to 15 lakh in 2021-22.

Female SC enrollment increased by 51%, whereas that of ST students went up by 65.2%. According to the report, during the academic year 2020-21, a 27% reservation for OBC students was implemented in Central Schools, resulting in over 34 thousand OBC children securing admissions.

Nishad Kumar, Preethi Pal Win Medals At World Para Athletics Championships

The Indian team picked up its first medals in the World Para Athletics Championships with high jumper Nishad Kumar and 200-meter runner Preethi Pal winning a silver and bronze in Kobe, Japan. Kumar, a Tokyo Paralympics silver medallist, cleared 1.99 meters to finish second in the men’s T47 high jump final and pick up India’s first medal on the third day of competition.

American Roderick Townsend won the gold with a jump of 2.05 meters.

Nikhat Zareen And Minakshi Clinch Gold Medals At Elorda Cup In Kazakhstan

In Boxing, India’s reigning world champion, Nikhat Zareen and another boxer Minakshi clinched gold medals at the Elorda Cup 2024 in Astana, Kazakhstan. The Indian pugilists concluded their Elorda Cup 2024 campaign with 12 medals, including two gold, two silver, and eight bronze medals.

Nikhat in the women’s 52 kg category, triumphed over Zhazira Urakbayeva of Kazakhstan with a 5-Nil victory, while Minakshi defeated another Uzbekistan boxer Rahmonova Saidahon, 4-1 in the women’s 48 kg event.

JSW Steel to spend over Rs 19,000 crore to expand the Dolvi plant

The cost of JSW Steel’s third phase of capacity expansion at its plant in Dolvi will be among the lowest for brownfield expansions for the company, a top official told ET. JSW Steel will spend a little over ₹19,000 crore on this capacity addition, which will help it cater to the demand for value-added special steel products, Jayant Acharya, CEO of JSW Steel.

Bank of Maharashtra tops among PSU banks in business growth in FY24

State-owned Bank of Maharashtra recorded the highest growth rate last fiscal in terms of total business and deposit mobilization among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth.

The Pune-headquartered lender has registered a 15.94% rise in the total business (domestic) in FY24, followed by the country’s largest lender State Bank of India (SBI) with 13.12% growth, according to published financial numbers of the public sector banks (PSBs).

BoM continued to maintain its top spot in terms of growth in deposit mobilization, with a 15.66% rise in FY24. It was followed by SBI (11.07%), Bank of India (11.05%), and Canara Bank (10.98%). Out of 12 public sector banks, only these four lenders could log a double-digit growth in deposits in the financial year 2023-24.

In terms of low-cost CASA deposits, the Bank of Maharashtra continued to top the chart with 52.73% growth, followed by the Central Bank of India with a 50.02% rise at the end of March 2024. With regard to loan growth, the Kolkata-based UCO Bank was a tad higher at 16.38%, followed by BoM at 16.30%.

In terms of capital adequacy ratio, the Bank of Maharashtra was leading PSBs at 17.38%, followed by Indian Overseas Bank at 17.28% and Punjab & Sind Bank at 17.16 at the end of FY24.

Debt and equity holders approve the merger of IDFC with IDFC First Bank

Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The proposal was passed by the overwhelming majority of 99.99% of the NCD holders. As part of the composite scheme of amalgamation, IDFC FHCL would first merge with IDFC and then IDFC into IDFC First Bank Ltd.

Under the proposed reverse merger scheme, an IDFC shareholder will get 155 shares for every 100 shares she/he holds in the bank. Both stocks have a face value of Rs 10 each. IDFC was an infra lender in the private sector space, and following its bigger peers like ICICI and IDBI, it also launched a banking subsidiary in 2015 — IDFC Bank.

Fusion Micro Finance gets a $25 million loan from US International DFC

Fusion Micro Finance has entered into a loan agreement with the United States International Development Finance Corporation (DFC) for an overall facility of $25 million, the company said in a release. The microfinancier has received an initial disbursement of $20 million as external commercial borrowing (ECB).

Lai Ching-Te of Taiwan’s Ruling DPP Sworn in as the New President

Lai Ching-te of Taiwan’s ruling Democratic Progressive Party (DPP) was sworn in as the self-governing island’s new President. A trained physician Lai succeeds Tsai Ing-wen to lead the democracy amid increasing threats from China, which claims the self-governing island as its territory. Taiwan has had an independent government since 1949.

Vice President Hsiao Bi-khim, was also officially sworn in. She was Taiwan’s de facto ambassador to the US from 2020 to 2023 and formerly served as a DPP lawmaker for several terms.

N Vaghul, doyen of Indian banking, passes away

Narayanan Vaghul, a doyen of Indian banking who was instrumental in bringing up ICICI, passed away at his residence in Chennai. A banker par excellence, Vaghul, who received the Padma Bhushan award in 2009, was the youngest Chairman of a bank when he helmed the Bank of India at the age of 44.

SBI acquires 6.125% stake in CCIL IFSC, strengthens presence in GIFT City

State Bank of India has executed transaction documents to acquire a 6.125% stake in CCIL IFSC Limited for ₹6.125 crore. CCIL IFSC, which will be incorporated with an authorized and paid-up capital of ₹200 crore and ₹100 crore, respectively, will operate the foreign currency settlement system and act as a clearing house and system operator at the IFSC within GIFT City.

Hindi writer Malti Joshi dies at 90

Renowned Hindi writer and Padma Shri recipient Malti Joshi died on 16 May. She was 90. Popularly known as “Malwa ki Meera”, Joshi was awarded the Padma Shri by then President Ramnath Kovind in 2018. Some of her most popular works include “Madhayantar”, “Pataakshep”, “Parajay”, “Ek Ghar Sapno Ka”, “Woh Tera Ghar, Ye Mera Ghar”, and her novel “Aurat Ek Raat Hai”.

She wrote more than 60 books in Hindi and Marathi languages.

Yes Bank launches premium services under ‘Yes Grandeur’ for affluent, elite customers

Yes Bank has launched premium banking services under the label ‘Yes Grandeur’ targeting the elite and rising affluent class to drive business growth. The exclusive banking program, tailored to meet distinctive financial and lifestyle needs, has an eligibility threshold of the average monthly balance of ₹5 lahks or a Net Relationship Value (NRV) of ₹20 lahks, with additional

consideration given to loan relationships. Customers can also avail of zero cross-currency markup charges on international debit card spends, complimentary airport lounge access, and lifestyle privileges across brands like Taj, ITC Hotels, Disney+ Hotstar, SonyLIV, and Amazon, among others.

According to the BCG CCI Proprietary Income Model, India’s affluent segment is projected to expand 2.3 times over the next decade leading to a major shift in consumer banking dynamics. A report by PRICE highlights that India’s middle class is expected to nearly double, comprising 61% of the total population by 2046-2047.

Iran’s President Ebrahim Raisi, minister dies in a helicopter crash

Iranian President Ebrahim Raisi and foreign minister have passed away in a helicopter crash. The eighth President of Iran, Ebrahim Raisolsadati, more popularly known as Ebrahim Raisi, was a principlist and a Muslim jurist, who became the Iranian President in 2021. Ebrahim Raisi was born on December 14, 1960.

Daily Current Affairs 2024

Get a competitive edge in all government exams with Daily Current Affairs 2024 by Oliveboard! Tailored for exams like NABARD Grade ARBI Grade BSEBI Grade AIFSCA Grade AIBPS POIBPS ClerkSBI PO and SBI ClerkIDBI Assistant ManagerFCISSC CGLSSC CHSLLIC AAOLIC ADOUPSC CSE & various other exams., our daily updates keep you ahead of the curve. Stay informed about the latest events in politics, economics, technology, and beyond. With concise summaries, Oliveboard’s Daily Current Affairs helps you stay abreast of important topics and enhance your exam preparation. Stay ahead, stay informed, and increase your chances of success with Oliveboard’s Daily Current Affairs 2024!


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