6 May 2024 Current Affairs in English

6 May 2024 Current Affairs

6 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 6 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 6 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.

6th May Daily Current Affairs 2024

06 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 6 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 Laughter Day 2024

World Laughter Day is a yearly bash that happens on the first Sunday of May. This year, it’s on May 5. It’s all about laughing out loud and enjoying the good times. As Shakespeare once said, “Laugh a lot, let those happy wrinkles show.” This article is here to tell you why laughter is awesome and the story behind this cool day.

In 2024, the focus of World Laughter Day in India revolves around the theme of unity. This special day is dedicated to bringing people together through the uplifting power of joy and laughter. Read the complete article here.

Tejaswin Shankar wins men’s High Jump event at USATF Festival

India’s Tejaswin Shankar clinched victory in the men’s High Jump event at the USATF Festival in Tucson, Arizona, USA. The National record holder Tejaswin cleared 2.23 meters in his first attempt to secure the top spot at the World Athletics Continental Tour – Silver event. With this jump, he equaled his season-best effort.

Mumbai-based Fintech Getvantage Secures NBFC License From RBI

Neobanking startup Fi, backed by investors such as Peak XV and Temasek, has secured a non-banking finance company (NBFC) license from the Reserve Bank of India, enabling it to provide loans from its books. Fi has joined the likes of Jupiter, Groww, and Cred, all of whom got into the lending business either by getting a fresh license or by acquiring another NBFC.

Requirement for NBFC License with RBI:

• The applicant company shall be registered under the Companies Act, 2013 or 1956
• The applicant company should have a minimum net owned fund of ₹ 2 crores.
• Procedure for Application to the RBI for NBFC License
• The applicant company needs to be a company registered under the Companies Act, 2013 with a minimum paid-up capital of Rs. 2 crores.
• If the applicant is a foreign company, its minimum capital shall be Rs. 5 crores.

NBFCs lend and make investments and hence their activities are akin to that of banks; however, there are a few differences as given below:

1. NBFC cannot accept demand deposits;
2. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
3. The deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in the case of banks.

NBFCs whose asset size is ₹ 500 cr or more as per the last audited balance sheet are considered systemically important NBFCs.

REC gets RBI nod to set up subsidiary in GIFT City

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has received a ‘No Objection Certificate’ (dated May 3, 2024) from the Reserve Bank of India, for setting up a wholly owned subsidiary in International Financial Services Centre (IFSC), Gujarat International Finance Tec-City (“GIFT”), Gandhinagar, Gujarat.

The decision to expand operations into GIFT, a burgeoning hub for financial services in India, comes as REC continues to diversify its portfolio and explore new avenues for growth. The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.

Assam’s Purnima Devi Barman Receives ‘Green Oscar’ Whitley Gold Award 2024

A wildlife biologist from Assam has been honored with a leading UK wildlife charity award for her conservation efforts of the endangered Greater Adjutant Stork and its wetland habitat. She received it in recognition of her conservation of the stork known locally as “Hargila” in Assamese.

Dr Purnima Devi Barman won the GBP 1,00,000 Whitley Gold Award from the Whitley Fund for Nature (WFN), which supports grassroots conservation leaders from around the world, at a Royal Geographical Society awards ceremony in London.

The Gold Award from WFN noted how the numbers of the Hargila – translating as “bone-swallower” – had dwindled to an estimated 450 birds in Northeast India before Ms Barman’s intervention. The Whitley Awards also celebrated six other grassroots conservationists – from Guyana, Papua New Guinea, Bhutan, Cameroon, Nepal, and Brazil – for their locally-led solutions.

Paytm’s President & COO Bhavesh Gupta resigns, moves into an advisory role

One97 Communications Limited (OCL), which owns the brand Paytm, announced the resignation of its President & Chief Operating Officer Bhavesh Gupta, and his moving into an advisory role in the CEO office post on May 31. OCL also announced the appointment of Rakesh Singh as the new Chief Executive Officer of Paytm Money Ltd (PML).

Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at Paytm Services Pvt Ltd (PSPL), which is into mutual fund distribution. OCL has reported movement to the TPAP model for UPI Payments and is now working with Yes Bank, Axis Bank, State of India, and HDFC Bank.

ICICI market cap tops Rs 8 trillion, bank storms into the top five

Shares of ICICI Bank surged over 5% on Monday, sending its market capitalization past the `8-trillion mark and into the league of the top five companies by market value. The private lender has become the second bank to cross this milestone, after HDFC Bank.

Reliance Industries maintains its position as the most-valued Indian company, boasting a market capitalization of Rs 19.8 trillion, while software giant Tata Consultancy Services follows closely behind with a market cap of Rs 14 trillion. Among banks, HDFC Bank leads with a market capitalization of Rs 11.6 trillion, and State Bank of India has a market value of Rs 7.4 trillion

YES Bank collaborates with ANQ to launch 2 co-branded credit cards Pi, Phi

YES Bank has partnered with Bengaluru-based financial services provider, ANQ, to unveil two co-branded credit cards — Pi and Phi.

The strategic partnership aims to bridge the gap between traditional banking and the fintech industry, offering innovative solutions to meet evolving consumer needs

The YES Bank-ANQ Pi credit card is a digital-only card that offers credit on UPI for domestic transactions, providing users with convenient and secure payment options. YES Bank is a full-service commercial bank headquartered in Mumbai. ANQ is a digital banking platform that harnesses the power of decentralized Finance (DeFi) to deliver next-generation financial services.

Palestinian Journalists Covering Gaza Named Winners of 2024 UNESCO Press Freedom Prize

Palestinian journalists covering Gaza have been named winners of the 2024 UNESCO/Guillermo Cano World Press Freedom Prize. The winners were chosen upon the recommendation of an international jury of media professionals. The UNESCO has recorded the deaths of 26 journalists, but the actual number could be much more.

The UNESCO/Guillermo Cano Prize is given annually, as a “tribute to the courage of journalists facing difficult and dangerous circumstances,” according to UNESCO Director-General Audrey Azoulay.

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