9 May 2024 Current Affairs in English

9 May 2024 Current Affairs

9 May 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 9 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 9 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.

9th May Daily Current Affairs 2024

9 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 9 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.

Maharana Pratap Jayanti 2024

Maharana Pratap Jayanti is marked on both May 9 and June 2. He was born on May 9, 1540, according to the Julian calendar but according to the proleptic Gregorian calendar, his birth date is May 9, 1540. In the Hindu calendar, Maharana Pratap was born on Tritiya, Jyeshtha, Shukla Paksha, 1597 Vikram Samvat, which typically falls in late May or early June on the Western calendar.

Maharana Pratap was a legendary Rajput monarch whose name is associated with bravery. Maharana Pratap was born on May 9, 1540. Maharana Pratap hailed from Rajasthan. His father was Maharana Udai Singh II, the reigning monarch of Mewar. After a hunting mishap in January 1597, he sustained serious injuries and on January 29 of that year, at the age of 56, he passed away.

Indian Coast Guard inks MoU with private sector for indigenous marine grade steel to enhance indigenous content in shipbuilding

Indian Coast Guard and Jindal Steel & Power, on May 07, 2024, signed a Memorandum of Understanding (MoU) in New Delhi for the supply of indigenous marine grade steel to enhance the indigenous content in shipbuilding. Through this partnership, both entities have committed to fostering indigenization, enhancing capabilities to produce and use these items in the Nation’s interest.

The MoU underscores the importance of public-private partnerships in addressing complex security challenges, emphasizing the need for collaboration between government agencies and the private sector. Several key benefits including quality, grades, and dimensions along with the designated steel plants to manufacture the product are stipulated in the MoU.

National Archives of India Acquires the private paper collection of the Late Shri Rafi Ahmad Kidwai

National Archives of India (NAI) has acquired the private paper collection of the Late Shri Rafi Ahmad Kidwai, comprising original correspondences of Shri Kidwai with other eminent leaders like Pt. Nehru, Sardar Patel, Shyama Prasad Mukherjee, P.D. Tandon etc.

The National Archives of India is the custodian of the non-current records of the Government of India and holds them in trust for the use of administrators and researchers as per the provision of the Public Record Act 1993.

Canara Bank Q4 Results: Net Profit rises 18.4% to Rs 3,757 Cr

Canara Bank, a leading state-owned lender, has reported robust financial performance for the fourth quarter of the fiscal year 2023-24, with a notable 18.4% increase in net profit. The bank’s net profit surged to Rs 3,757.23 crore, marking a significant rise compared to the same period last year.

In terms of asset quality, Canara Bank witnessed a notable decline in the gross Non-Performing Asset (NPA) ratio, which improved to 4.23% compared to the previous quarter. Similarly, the net NPA ratio stood at 1.27%, reflecting a commendable reduction and underlining the bank’s efforts in minimizing credit risk.

Canara Bank also demonstrated strength in its lending operations, with a noteworthy increase in net interest income (NII) and net interest margins (NIM). The bank’s NII stood at Rs 9,580 crore, marking an 11.18% increase compared to the previous year. The NIM remained healthy at 3.07%, reflecting the bank’s ability to manage its interest income and expenses.

Indian Milk Producer Amul Appointed As ‘Official Sponsor’ Of Sri Lanka Men’s Team For ICC Men’s T20 World Cup 2024

Sri Lanka Cricket has announced that Indian milk producer Amul has been appointed as the ‘Official Sponsor’ of the Sri Lanka Men’s Team for the duration of the ICC Men’s T20 World Cup 2024. Sri Lanka will kick off the ICC Men’s T20 World Cup 2024 campaign on June 3, 2024, facing South Africa in New York.

The ICC Men’s T20 World Cup 2024 will be held in the West Indies and the USA from June 1 to 29. CEO of Sri Lanka Cricket Ashley De Silva.

RBI removes restrictions on the BoB app, allows new customer enrollment

The Reserve Bank of India (RBI) lifted the curbs on BoB World — the mobile application (app) of Bank of Baroda — with immediate effect, the bank said in a notification to the exchanges. As a result, the bank will be able to onboard customers through the mobile app.

The move likely impacted the bank’s incremental retail business sourced through the digital platform. About 98% of savings accounts and 91% of current accounts are sourced digitally in the first quarter of 2023-24. About 43% of time deposits and 74% of retail advances are sourced through the BoB World app, according to analysts.

South Indian Bank and Northern Arc Capital join hands to set new benchmarks in the financial sector

South Indian Bank has formed an association with Northern Arc Capital aiming to explore and maximize commercial prospects by combining efforts in loan origination, underwriting, disbursement, collection, and reconciliation procedures.

This collaboration has been formalized with the signing of a Memorandum of Understanding (MOU), demonstrating both institutions’ commitment to a mutually beneficial partnership. The cooperation represents a shared commitment to leveraging synergies, expertise, and resources to improve the efficiency and effectiveness of lending operations.

RBI asks NBFCs not to lend more than Rs 20,000 in cash for gold loan

The Reserve Bank of India (RBI) has cautioned the non-banking finance companies (NBFCs) extending gold loans against breaching the Rs 20,000 cap on cash loan disbursal.

While issuing the advisory, the central bank referred to the provisions of Section 269 SS of the Income Tax Act, 1961, which stipulates that no individual can receive more than Rs 20,000 as a loan amount in cash.

In March, the RBI barred IIFL Finance, a non-banking financial company, from sanctioning and disbursing fresh gold loans following “material supervisory concerns” and to protect the interests of customers. NBFCs are required to maintain a Loan-to-Value (LTV) ratio not exceeding 75% for loans granted against the collateral of gold jewelry.

SBI General Insurance names Jaya Tripathi as Head of the Key Relations Group

SBI General Insurance, one of India’s top general insurers, has named Jaya Tripathi as Head of the Key Relations Group. Her new role will involve leading the expansion of new business prospects and alliances, driving sales team growth, and deepening partner relationships to increase profitability.

L&T Finance launches ‘The Complete Home Loan’

L&T Finance Ltd (LTF) has launched ‘The Complete Home Loan’, offered through a digitized process, along with a dedicated relationship manager and optional home décor finance. According to the company, home décor finance aims to provide flexibility and convenience in acquiring essential furnishings for a comfortable living space.

The loan will be given against an architect’s certificate or contract certification when the house is ready for interior decoration. It will be about 15% of the entire home loan, not exceeding ₹75 lakh, and can go up to 10 years.

Google launches a wallet app in India for Android users but without payment features

Tech giant Google 8 May announced the launch of the Google Wallet app in India, enabling users to save their travel tickets, gift cards, and event passes in one place. It however does not support payment features such as saving credit cards or debit cards in the wallet for on-tap payments.

Google has partnered with 20 of India’s top brands to enable the Google Wallet experience, including PVR & INOX, Air India, Indigo, Flipkart, Pine Labs, Kochi Metro, Abhibus, and many others, with more partners to be added in the months to follow. Google Wallet is now available for download from the Google Play Store for all Android users in India.

Reliance acquires petrochemicals step-down subsidiary for Rs 314 cr

Reliance Industries Ltd on Wednesday said it has acquired a step-down subsidiary engaged in the manufacture of petrochemicals and hydrogen, for Rs 314.48 crore. In a stock exchange filing, the firm said Reliance Chemicals and Materials Ltd (RCML) is a step-down wholly owned subsidiary of the Company through Reliance Projects & Property Management Services Ltd (RPPMSL).

RCML was incorporated in India on November 2, 2022, to undertake the business of manufacturing petrochemicals, vinyl, hydrogen & its derivatives, rare and industrial gases, bio-energy products, and carbon fiber.

Birla Fertility acquires Kerala-based AMRC IVF to foray into South India

Birla Fertility and IVF, a part of the CK Birla group, announced the acquisition of an 86% stake in Kerala-based fertility chain AMRC IVF for an undisclosed amount. According to industry sources, the deal is valued at below Rs 100 crore, and the transaction will be financed through internal accruals.

As part of the deal, Birla IVF will integrate seven centers of AMRC, spread across Kerala, Karnataka, and Tamil Nadu, marking the network’s entry into South India. The deal aligns with the company’s plans to increase its coverage to 100 centers across the country by FY28, with an expected investment of Rs 500 crore.

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