28 May 2024 Current Affairs in English

Today’s Current Affairs – 28 May 2024

28 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 28 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 28 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.

28th May Daily Current Affairs 2024

28 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 28 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 Hunger Day 2024

On May 28th, the world unites for World Hunger Day. This day raises awareness about the urgent issue of global hunger. In 2011, The Hunger Project, a global organisation dedicated to ending hunger and poverty, established World Hunger Day as a yearly event. The theme for World Hunger Day 2024 is “Thriving Mothers, Thriving World.”

Goldman Sachs raises India’s GDP growth forecast to 6.7% for calendar year 2024

Global investment bank Goldman Sachs has raised India’s GDP growth forecast to 6.7% for the calendar year 2024. The latest data released by the bank said they expect a sustained growth momentum with additional fiscal space on account of a bumper dividend transfer from the RBI.

The financial company said that in India, growth momentum remains strong and core inflation is expected to bottom out in April-June. The report also came on a day when the IMD confirmed its forecast of above-average monsoon rains this year which are expected to spur production in the agricultural sector that was hit by erratic weather last year.

Google Invests $350 Million In Walmart-Owned Flipkart

Tech major Google is investing nearly $350 million in Walmart-owned e-commerce firm Flipkart for a minority share, according to sources. The investment is part of the $1 billion funding round started by Flipkart in 2023. Flipkart’s valuation had been adjusted to $33 billion after fintech firm PhonePe was separated from the group in December 2022.

Fischer Medical Ventures makes India’s first indigenous MRI system

Chennai-headquartered Fischer Medical Ventures (FMVL), aiming to lessen the country’s reliance on imported devices, has manufactured its magnetic resonance imaging (MRI) systems domestically, claiming to be the first company in the country to achieve this.

The company is developing its MRI systems at a production facility in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam. AMTZ, India’s premier medical technology park, provides a conducive environment for production, with access to facilities and a skilled workforce.

Jyoti Ratre Becomes India’s Oldest Woman To Conquer Mount Everest

Jyoti Ratre, an entrepreneur and fitness enthusiast from Madhya Pradesh, has become the oldest Indian woman to conquer Mount Everest. The 55-year-old mountaineer reached the summit at 6:30 a.m. on May 19. This was Ratre’s second attempt to summit the highest peak in the world. In 2023, she had to return from 8,160 mt due to harsh weather.

Tata AIG introduces surety bonds for the infrastructure sector

TATA AIG General Insurance, a private general insurer, has rolled out Surety Insurance Bonds to support the government’s ambitious agenda on infrastructure development, which has been allocated 3.3% of the GDP in FY 2024.

A surety bond is a legally binding agreement between three parties: the obligee (the entity requiring the bond), the principal (the party required to fulfill a certain task or duty), and the surety (the party ensuring that the principal can perform the assignment).

The surety bond, which is most typically used in construction and infrastructure projects, guarantees that the principal will meet the commitments indicated in a contract. If the principal fails to meet these obligations, the surety compensates the obligee, reducing their financial risk.

Smartphones Become India’s Fourth Largest Export Item With 42% Growth

Smartphones are now the fourth-largest export item from India with 42% growth to $15.6 billion in FY24, up by one notch in the ranking from the preceding year. India started collecting data for smartphones separately from April 2022. While India’s top export items are dominated by petroleum products, smartphones replaced motor gasoline.

According to commerce department data, the spike in smartphone exports was driven by a 158% increase in shipments to the US at $5.6 billion, followed by the United Arab Emirates ($2.6 billion), the Netherlands ($1.2 billion), and the UK ($1.1 billion).

RBI imposes penalty on ICICI Bank and YES Bank for rule violations

The Reserve Bank of India has imposed a penalty of Rs 1 crore on ICICI Bank for non-compliance with norms relating to loans, and a Rs 91 lakh fine on another private sector lender, Yes Bank, for violating norms relating to customer service and unauthorized operation of internal/office accounts.

RBI found that ICICI Bank had sanctioned term loans to certain entities in lieu of or to substitute budgetary resources envisaged for certain projects, and without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations, among others.

On Yes Bank, the banking regulator found the lender levied charges for non-maintenance of minimum balance in certain savings accounts having insufficient/zero balance and opened and operated certain internal accounts in the name of its customers for unauthorized purposes like parking funds and routing customer transactions.

Kerala tops youth unemployment rate, Delhi registers lowest: PLFS Survey

Kerala recorded the highest unemployment rate among the 15-29 age group in urban areas for the January-March quarter of 2024, while Delhi had the lowest joblessness rate, according to the latest Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics and Programme Implementation (MOSPI).

The survey, which covered 22 states and Union territories, identified Jammu & Kashmir, Telangana, Rajasthan, and Odisha as other states with high unemployment rates in this age category. The overall unemployment rate for the 15-29 age group was 17% for the January-March period, an increase from 16.5% in the previous quarter but slightly lower than the 17.3% in same period.

For all age groups, the unemployment rate was 6.7 per cent , marginally up from 6.5 per cent in the previous quarter and slightly below the 6.8 per cent from the previous year. Delhi (3.1 per cent ), Gujarat (9 per cent ), and Haryana (9.5 per cent ). Karnataka (11.5 per cent ) and Madhya Pradesh (12.1 per cent ) also had relatively low unemployment rates.

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 A, RBI Grade B, SEBI Grade A, IFSCA Grade A, IBPS PO, IBPS Clerk, SBI PO and SBI Clerk, IDBI Assistant Manager, FCI, SSC CGL, SSC CHSL, LIC AAO, LIC ADO, UPSC 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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