31 May 2024 Current Affairs in English

Today’s Current Affairs – 31 May 2024

31 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 31 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 31 May Current Affairs 2024 lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

31st May Daily Current Affairs 2024

31 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 31 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 No-Tobacco Day 2024

The World Health Organization’s annual World No Tobacco Day on May 31st spotlights tobacco’s health hazards, aiming to spur momentum toward a smoke-free future. With tobacco causing 6 million annual deaths projected to exceed 8 million by 2030, concerted efforts guided by the U.N. Sustainable Development Agenda could dramatically curb usage and improve health and finances.

The theme of World No Tobacco Day in 2024 centers on “Protecting children from tobacco industry interference.” This theme of WNTD 2024 is focused on advocating for an end to the targeting of youth with harmful tobacco products. Read the complete article here.

Government raises retirement & death gratuity limits to Rs 25 Lakh

The maximum limit of retirement gratuity and death gratuity has been revised by the government from 20 lakh to 25 lakh rupees. Ministry of Personnel, Public Grievances and Pensions has issued an official memorandum in this regard. It said the revised limit will come into effect from 1st January 2024.

India’s IIT Madras startup Agnikul Cosmos launches the world’s 1st rocket with a fully 3D-printed engine

In a remarkable achievement, IIT Madras’ startup, Agnikul Cosmos, has launched the world’s first rocket with a single-piece three-dimensional (3D) printed engine. The rocket Agnibaan SOrTeD (SubOrbital Technological Demonstrator) is also India’s first semi-cryogenic engine-powered rocket launch that was completely designed and manufactured indigenously.

It was also launched from India’s first privately developed launchpad called ‘Dhanush’ established by Agnikul at Sriharikota in Andhra Pradesh at 7.15 a.m. today. The test flight aims to demonstrate in-house and homegrown technologies, gather crucial flight data, and ensure the optimal functioning of systems for Agnikul’s orbital launch vehicle, the ‘Agnibaan’.

Agnibaan is a two-stage rocket with a capacity to carry up to 300 kg to a height of 700 km. The rocket engines are powered by liquid oxygen or kerosene. It can access both low- and high-inclination orbits and is completely mobile, designed for accessing more than 10 launch ports, as per the company.

Armed Forces Medical Services & IIT Hyderabad ink MoU for Collaborative Research and Training

The Armed Forces Medical Services (AFMS) have signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Hyderabad to collaborate on research and training. The MoU aims to foster innovation and research in developing novel medical devices and addressing health issues specific to soldiers serving in varied terrains.

India hosts a side event on Women, Children, and Adolescent Health in collaboration with Norway, UNICEF, UNFPA, and PMNCH

During the ongoing 77th World Health Assembly, India hosted a side event on Women, Children, and Adolescent Health in collaboration with Norway, the United Nations Children’s Fund (UNICEF), the United Nations Population Fund (UNFPA), and the Partnership for Maternal, Newborn and Child Health (PMNCH).

The purpose of the event was to share emerging evidence and discoveries, fostering dialogue on pivotal opportunities for investment in maternal, newborn, child, and adolescent health and well-being. It aimed to advocate for continued and augmented investment, prompting policy adjustments across diverse stakeholders and sectors.

NSE Indices launch India’s first EV index

Index provider NSE Indices launched a new thematic index called Nifty EV & New Age Automotive index. The 33-stock index will track the performance of companies that form a part of the electric vehicle (EV) ecosystem or are involved in the development of new-age automotive vehicles or related technology.

Bajaj Auto, Tata Motors, Mahindra & Mahindra, and Maruti Suzuki are the top four components of the index. The base date for the index is April 02, 2018, and the base value is 1,000.

RBI projects 7% Real GDP growth in the current financial year

The Reserve Bank of India has projected a 7% GDP growth in the current financial year. In its annual report, it said the real GDP growth for 2024-25 is projected to grow at 7% with risks evenly balanced. RBI said the Indian economy expanded at a robust pace in fiscal 2024, with real GDP growth accelerating to 7.6% from 7% in the previous year.

According to the annual report, the outlook for the Indian economy remains bright, underpinned by a sustained strengthening of macroeconomic fundamentals, robust financial and corporate sectors, and a resilient external sector.

On May 22, the RBI’s Central Board of Directors approved the transfer of Rs 2.11 lakh crore as surplus to the government for FY 2023-2024.

The income of the Reserve Bank of India (RBI) in the financial year 2023-24 rose around 17 percent year-on-year due to a significant rise in interest income from foreign securities, as per the central bank’s report.

The central bank said the surplus to transfer to the government for the financial year 2023-24 is based on the Economic Capital Framework (ECF) adopted by the RBI on August 26, 2019, as per recommendations of the Bimal Jalan committee. The sharp jump in the surplus amount could be attributed to higher income from the forex holding of the central bank, among other factors.

RBI finalizes framework for self-regulatory organizations in the fintech sector

The Reserve Bank of India released the final framework for recognizing self-regulatory organizations in the financial technology sector, encouraging entities to have a representative membership from the fintech sector. The banking regulator has indicated that there may be more than one SRO-FT, and fintech firms would be encouraged to participate in at least one.

An SRO-FT may have membership from fintechs currently regulated by the RBI, including non-banking financial companies-account aggregators (NBFC-AA), and NBFC-peer-to-peer (P2P) lending platforms, among others, excluding banks.

An SRO is a non-governmental organization that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country.

Applicants will be required to have a minimum net worth of Rs 2 crore within a year of being recognized as an SRO-FT. The entity should be a not-for-profit company.

The shareholding of an SRO-FT should be diversified, and no entity should hold 10% or more of its paid-up share capital.

Organisations such as the Payments Council of India (PCI), and the Fintech Association for Consumer Empowerment, DLAI, are some of the leading bodies in the race to apply for an SRO-FT.

Daily Current Affairs 2024

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