Praggnanandhaa toppled Magnus Carlsen for the first time in a Classical event. The 18-year-old Indian prodigy took down the World No. 1 with the White pieces in the 3rd round of Norway Chess 2024. Praggnanandhaa got an early edge out of the opening and eventually converted it into a victory. With this win, Pragg now takes the sole lead with 5.5 points in the event.
The National Highways Authority of India (NHAI) has launched an initiative to monetize its infrastructure, seeking investments from the UAE to sustain and enhance India’s expanding national highway network. NHAI aims to build lasting UAE investor relationships, with positive responses in Dubai and upcoming meetings in Abu Dhabi.
This initiative represents a strategic move to secure sustainable funding for India’s highway expansion, attract significant capital, and foster a beneficial partnership for both India and investors.
The journey of Hindi journalism began on May 30, 1826, with publication of the first Hindi newspaper, ‘Udant Martand,’ started by Pt. Jugal Kishore Shukla. This day is dedicated to the special contribution of Hindi journalists working for public welfare, imbued with truth & courage. The Hindi publication of Udant Martand was a milestone in the history of Indian journalism.
S&P Global ratings has revised India’s outlook on economy to positive from stable. The agency expects broad continuity in economic reforms and fiscal policies regardless of the election outcome. Since September 26 2014, the Agency placed India’s outlook on Economy as stable. After a gap of 10 years, the outlook has been upgraded to positive.
Robust economic growth, improvement in the quality of government spending, political commitment to fiscal consolidation, GDP expanding close to 7% annually over the next three years, Improvements in infrastructure and connectivity in India, Expectation on general government deficit to dip to 6.8% by fiscal 28 from 7.9% in fiscal 2025, are the rational behind the outlook.
The agency, however, retained the Sovereign rating at BBB minus, citing Fiscal setting vulnerabilities.
Defence Research and Development Organisation successfully flight-tested the RudraM-II air-to-surface missile from Su-30 MK-I platform of the Indian Air Force in Odisha. RudraM-II is an indigenously-developed solid-propelled air-launched missile system. A number of state-of-the-art indigenous technologies developed by DRDO laboratories have been incorporated in the missile.
India assumed the Chair of Colombo Process for 2024-26, for the first time since its inception. India looks to promote safe, orderly and legal migration. Colombo Process is a Regional Consultative Process of migrant worker origin countries from South and South East Asia. It serves as a forum for exchange of best practices on overseas employment.
External Affairs Ministry, Ministry of Electronics and Information Technology and Common Services Centers eGovernance Services India Limited have signed a Memorandum of Understanding today to provide the eMigrate services through CSC in the country. eMigrate project aims to assist mainly the blue-collar workers going to Emigration Check Required countries.
The Electronics and Information Technology Ministry said that the project was conceptualized to address issues faced by the migrant workers by making emigration process online seamless and also to bring foreign employers and registered recruitment agents and insurance companies on one common platform aimed at promoting safe and legal migration.
Power Finance Corporation Ltd. (PFC) has been honoured with the Corporate Social Responsibility award in the NF (Non-Fossil Fuel) business category at the Outlook Planet Sustainability Summit & Awards 2024, held in Goa. PFC's win in the CSR NF category is a testament to its unwavering commitment to social responsibility and sustainable business practices.
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honoured with the ‘Sustainability Champion – Editor’s Choice Award’ at the ‘Outlook Planet Sustainability Summit & Awards 2024’. The Award ceremony was organised by Outlook Group, in collaboration with IIT Goa.
This award recognizes REC’s commitment to sustainability initiatives and its efforts in driving progress towards a greener future. The award highlights the corporation’s pledge to sustainability initiatives, leading the path toward a greener future.
In December 2023, General Assembly announced that May 30 will be observed as International Potato Day every year. Potatoes rank among the top five staple food items used throughout the world. The day will be celebrated to highlight the significance of potatoes from the Andean region to the world. The first ever International Potato Day will be observed this year on May 30.
Theme for 2024 is "Harvesting Diversity, Feeding Hope".
The Reserve Bank of India barred the Edelweiss group’s asset reconstruction company from acquiring financial assets and security receipts, and also its non-banking financial arm from undertaking any structured transaction for wholesale exposure, other than repayment and/ or closure of accounts in its normal course of business.
EARCL has also been barred from reorganising the existing SRs into senior and subordinate tranches. EARCL and ECL Finance were found to be “acting in concert” by entering into a series of structured transactions for “evergreening stressed exposure of ECL, using the platform of EARCL and connected AIFs, thereby circumventing applicable regulations”.
The Reserve Bank has imposed a fine of Rs 36.38 lakh on foreign lender HSBC for Foreign Exchange Management Act (FEMA) violations.
The central bank said reporting requirements under the Liberalised Remittance Scheme of FEMA, 1999 were not followed by HSBC. The RBI had issued a show cause notice to HSBC, in response to which the bank submitted a written reply.