Daily Current Affairs 21 May 2024 | Latest News | Download PDF

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Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs February 2024 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs May 21 2024, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs May 21 2024 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

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CURRENT AFFAIRS : BANKING & FINANCE

New Point of Sale Deployment Slows to Lowest Growth Rate Since Demonetisation: RBI Data

• The convenience of Unified Payments Interface (UPI) platforms is increasingly favoured by merchants and consumers, reducing the reliance on debit cards for cashless transactions.

Key Highlights :

• New PoS Terminal Deployment:The deployment of new point-of-sale (PoS) terminals grew at the slowest pace in fiscal 2023-24 since demonetisation, according to RBI data.
• New PoS terminal deployment rose by 14% between March 2023 and 2024, compared to 28% and 29% in the preceding two years.
• The highest growth rate in recent years was 82% in 2016-2017, following demonetisation when the base was 1.38 million machines.
• Impact of UPI on PoS Deployment:Despite ongoing deployment of PoS terminals due to merchants wanting to offer various payment options and increased credit card usage, QR code-based UPI transactions are becoming more popular.
• Growth of UPI QR Codes:Deployment of QR codes for UPI payments has doubled in the last two years.
• In March 2023, there were 346 million QR codes in use, compared to 172 million in March 2022.
• Merchant Discount Rate (MDR):The government mandate for zero merchant discount rate (MDR) on UPI transactions is encouraging merchants to prefer UPI payments over card swipes.
• Transaction Data:Debit card transactions at merchant outlets decreased by 32%, from 237 million in March 2022 to 160 million in March 2023.
• UPI merchant transactions increased by 72%, from 4.82 billion to 8.30 billion during the same period.

About UPI :

• Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application.
• It is developed by the National Payments Corporation of India (NPCI).
• It was introduced in April 2016.

IFC Provides $500 Million Financing to HDFC Bank to Boost Microloans

• The International Finance Corporation (IFC) has extended $500 million in financing to HDFC Bank to expand microloans for underserved women borrowers in India.
• Women, particularly microloan borrowers in semi-urban and rural areas, will benefit from increased access to finance due to IFC’s financing of up to $500 million to HDFC Bank.
• HDFC Bank will utilize IFC’s financing for on-lending as microloans to Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) enrolled in the Sustainable Livelihoods Initiative (SLI).
• SLI is HDFC Bank’s business line dedicated to microfinance lending programs exclusively for women borrowers.

About IFC :

• The International Finance Corporation is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries.
• The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.

About HDFC Bank :

• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

SBI General Insurance Partners with CAMS to Launch Bima Central, a Groundbreaking Policyholder Servicing Platform

• SBI General Insurance Company Limited, one of India’s top general insurance carriers, has partnered with Bima Central, built by CAMS Insurance Repository, to launch the industry-first policyholder servicing platform, Bima Central.

Key Highlights :

• Functionality of Bima Central:The platform allows consumers to aggregate their insurance portfolios via an electronic Insurance Account (eIA).
• Users can manage their insurance policies effortlessly through a single digital portal, Bima Central.
• Unique Feature: For the first time in the market, SBI General Insurance customers with an eIA through CAMS Rep Bima Central will have immediate access to their insurance portfolio via the SBI General Insurance Mobile App.
• Consumer Benefit: The integration enables seamless management and access to insurance portfolios, enhancing convenience and efficiency for policyholders.

About SBI General Insurance Company Limited :

• Founded : 2009 (started operations in 2010)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Kishore Poludasu
• It is a joint venture between the State Bank of India (SBI) and the Insurance Australia Group (IAG).

CURRENT AFFAIRS: NATIONAL NEWS

GAIL hires LNG ship from CoolCo

• State-owned gas utility GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier from NYSE-listed Cool Company for 14 years to augment its transportation capability to meet India’s rising gas needs.
• The time charter for the LNG carrier will commence in early 2025 and GAIL will have the option to extend it by two additional years beyond the firm 14-year period.
• GAIL presently has four LNG carriers in its fleet and the one coming from CoolCo will be the fifth.
• Last year, GAIL hired an LNG carrier from Japanese shipping company Mitsui OSK Lines.
• This was the second MOL Group LNG carrier serving GAIL.
• The first vessel, named GAIL Bhuwan, was chartered in 2021.
• The second vessel, taken in December 2023, was named GAIL Urja.

About GAIL

• GAIL Limited Headquarters: New Delhi, Sandeep Kumar Gupta; (Chairman & MD).

Cabinet Approves Ambitious IndiaAI Mission to Strengthen the AI Innovation Ecosystem

• The Government of India launched the IndiaAI Mission with a budget outlay of Rs.10,371.92 crore, a comprehensive national-level program to democratize and catalyze the AI innovation ecosystem in the country and ensure the global competitiveness of India’s AI startups and researchers.
• The IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through strategic programs and partnerships across the public and private sectors.
• The Mission will be implemented by ‘IndiaAI’ Independent Business Division (IBD) under Digital India Corporation (DIC).
• The government will fund up to 50 per cent of AI compute infrastructure that will be created in partnership with the private sector.
• The government is looking to set up at least 10,000 graphics processing unit (GPU) based compute capacity in the country soon.
• Meity has set a target to make available GPU-based servers approved under the IndiaAI Mission by March 2026.
• The rapid development of AI across the globe has led to an increase in demand for GPU-based servers as they can process data at a higher speed compared to CPU-based servers.
• The Cabinet has approved the India AI Mission with an outlay of Rs 10,372 crore for five years to encourage AI development in the country.
• The funding for the project could be done by the government either through a viability gap funding or voucher-based system.

CURRENT AFFAIRS : INTERNATIONAL NEWS

South African Government Urges Faster Visa Issuance for Indian Tourists

• The South African government is developing mechanisms for the speedy clearance of visa applications from India and is working on a proposal to introduce E-Visas for Indian tourists.
• In the first quarter of 2024, 16,000 Indian visitors travelled to South Africa.
• The initiative was announced during an event organised by South Africa Tourism.

Key Highlights :

• Presidential Directive: South African President Cyril Ramaphosa has requested a joint report from the Ministers of Tourism, Home Affairs, and State Security on measures to expedite visa clearance.
• Visa Waiver Proposal: The Tourism Ministry has proposed a 90-day visa waiver for passengers from both China and India.
• Current Visa Waivers: Currently, passengers from Russia and Brazil receive a visa waiver for up to 90 days in one calendar year. They also have the option to apply for a visa extension while in South Africa.
• BRICS Alliance: The visa waiver facility will be extended to passengers from India and China, who are also members of the BRICS alliance.

About South Africa :

• President : Cyril Ramaphosa
• Capital : Pretoria (executive), Cape Town (legislative), Bloemfontein (judicial)
• Currency : South African rand

CURRENT AFFAIRS: BUSINESS NEWS

Thomas Cook India launched TCPay, shares rise 2.26%

• Thomas Cook (India) Limited’s shares were up by 2.26 per cent after the company launched TCPay, it is a service aimed at simplifying international money transfers.
• The company said sending money abroad involved visiting branches, cumbersome paperwork, and limited operating hours.
• TCPay aims to change this by offering a digital interface that allows for paperless transactions.
• The service is further enhanced by Thomas Cook’s recently launched Video KYC process, which enables customers to transfer funds conveniently from their homes.
• Thomas Cook reported that TCPay offers advantages, including 24×7 access, transfers, and a digital interface accessible through Thomas Cook’s digital tools such as FXNOW (B2C app), Portal, and Call Center for assistance.
• The Video KYC process is made to ensure convenient, safe, and quick transactions for customers.
• The shares were up 2.26 per cent to ₹203.35 at 11.37 on the BSE.

IREDA incorporates a subsidiary in GIFT City, Gujarat

• The Indian Renewable Energy Development Agency Ltd (IREDA) has incorporated a wholly-owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.
• The subsidiary, “IREDA Global Green Energy Finance IFSC Limited,” was officially incorporated on May 7, after receiving the No Objection letter from the Reserve Bank of India on February 8.
• This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector’s growth, aligning with the Government of India’s ambitious ‘Panchamrit’ targets.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

ITC Chairman Sanjiv Puri, Assumes Role as Confederation of Indian Industry President, Succeeds R Dinesh  

• Sanjiv Puri, chairman and managing director of consumer goods major ITC Limited., has taken over as president of the Confederation of Indian Industry (CII) for the 2024-25 period.
• He takes over from R Dinesh, Chairman of TVS Supply Chain Solutions.

About Sanjiv Puri :

• Puri heads ITC Ltd, a conglomerate with businesses in FMCG, hotels, paperboards & packaging, agribusiness, and IT.
• He is also the Chairman of ITC Infotech India Ltd, its subsidiaries in the UK and US, and Surya Nepal Private Ltd.

Other Appointments :

• Rajiv Memani, Chairman of the India region of EY, has been appointed as the President-Designate of CII for the year 2024-25.
• Memani is also a member of EY’s global management body as the chair of its global emerging markets committee.
• He advises large Indian companies, private equity funds, and multinational organizations on various business strategies.
• R Mukundan, Managing Director and CEO of Tata Chemicals Limited, has taken over as the Vice President of CII for the 2024-25 period.

About CII :

• Established : 1895
• Headquarters : New Delhi, India
• Director General : Chandrajit Banerjee
• The CII is a non-governmental trade association and advocacy group.

CURRENT AFFAIRS : PERSON IN NEWS

Gopi Thotakura Makes History as 1st Indian Space Tourist on Blue Origin’s Private Astronaut Launch

• Indian expatriate Gopi Thotakura made history as he became the first Indian space tourist and the second Indian to venture into space as part of the crew for Amazon founder Jeff Bezos’ Blue Origin’s NS-25 mission.
• The Blue Origin successfully completed its 7th human spaceflight and the 25th flight for the New Shepard program.
• Andhra-born Gopi Thotakura was a part of the crew among five other crew members.

List of other Crew Members :

1. Ed Dwight: Former Air Force aviator, became the oldest person in space at 90 years old.
2. Mason Angel: Founder of Industrious Ventures.
3. Sylvain Chiron: Spearheaded Brasserie Mont Blanc, a craft brewery in France.
4. Kenneth L. Hess: Software engineer and entrepreneur.
5. Carol Schaller: Retired Certified Public Accountant (CPA).

• Note : Wing Commander Rakesh Sharma, a former Indian Air Force pilot, was the first Indian citizen to fly to space in 1984.
• Blue Origin’s 7th human flight, NS-25, lifted off from Launch Site One in West Texas .
• To date, Blue Origin has facilitated the journey of 31 individuals aboard the New Shepard, a compact and fully reusable rocket system named in homage to Alan Shepard, the first American in space.

About New Shepard :

• New Shepard is a fully reusable sub-orbital launch vehicle developed for space tourism by Blue Origin.
• It is named in homage to Alan Shepard, the first American in space, and is designed to transport astronauts and research payloads beyond the Karman line.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

SBI Acquires 6.125% Stake in CCIL IFSC, Enhances Presence in GIFT City   

• State Bank of India (SBI) has executed transaction documents to acquire a 6.125% stake in CCIL IFSC Limited for ₹6.125 crore.

Key Highlights :

• CCIL IFSC Description: CCIL IFSC will be incorporated with an authorised capital of ₹200 crore and paid-up capital of ₹100 crore.
• It will operate the foreign currency settlement system and act as a clearing house and system operator at the International Financial Services Centre (IFSC) within the Gujarat International Finance Tec City (GIFT City).
• Transaction Completion Timeframe: The indicative period for completing the transaction, which involves acquiring 61.25 lakh equity shares at ₹10 each, is up to six months from the date of execution of transaction documents.
• Promoters and Stakes: The Clearing Corporation of India Ltd (CCIL) is promoting CCIL IFSC, holding a 57.125% stake in the proposed company.
• SBI’s Stake in CCIL: At the group level, SBI holds a 21.30% stake in CCIL, with SBI holding 16.80% and SBI-DFHI holding 4.50%.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti

ICICI Bank to Acquire Small Stake in New Entity to be Established in GIFT-IFSC   

• ICICI Bank has entered into a memorandum of understanding (MoU) in relation to an investment in the equity shares of a company to be incorporated (Target Entity) as a subsidiary of The Clearing Corporation of India (CCIL) along with seven (7) other shareholders.
• Post investment, ICICI Bank will hold 6.125% shareholding in the Target Entity through the acquisition of 6,125,000 equity shares of face value Rs 10 each.
• The Target Entity is proposed to be incorporated as a subsidiary of CCIL.
• The Target Entity, to be incorporated in GIFT-IFSC, will set up and operate the Foreign Currency Settlement System (FCSS) and act as a clearing house and system operator for the same.
• The Target Entity will also provide services in GIFT-IFSC, including any or all of the services currently provided by CCIL in India, and undertake other permissible activities within GIFT-IFSC, subject to necessary approvals from relevant authorities under applicable laws.

About ICICI Bank :

• Founded : 5 January 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sandeep Bakhshi

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army to Receive Igla-S Air Defence Systems Partially Assembled in India

• The Indian Army is set to receive Russian Igla-S very short-range air defence systems (VSHORAD) under the fourth tranche of Emergency Procurements (EP).
• These systems were contracted in 2023, with deliveries beginning by the end of May 2024.
• The Army is also set to receive the first of two Israeli Hermes-900 Medium Altitude Long Endurance Unmanned Aerial Vehicles (UAV) assembled by Adani Defence Systems and Technologies Limited (ADSTL) in Hyderabad next month.

About Igla-S :

• The Igla-S systems are being assembled by ADSTL in India under technology transfer from Rosoboronexport, the Russian defense export agency.
• The Army contracted 48 Igla-S launchers, 100 missiles, 48 night sights, and one missile testing station under a ₹260 crore contract.
• Igla-S is a man-portable air defence system (MANPADS) developed by Russia.
• It is a hand-held system designed to bring down low-flying aircraft and can also identify and neutralize air targets such as cruise missiles and drones.
• It comprises the 9M342 missile, the 9P522 launching mechanism, the 9V866-2 mobile test station, and the 9F719-2 test set, providing a comprehensive air defence solution.
• These components work together to provide a comprehensive air defence solution.
• Igla-S has a range of 500 meters to 6 kilometers and can attack targets up to an altitude of 3.5 kilometers.
• Its missile speed is 400 meters per second, and deployment time is 13 seconds.
• The acquisition of Igla-S MANPADS enhances India’s air defence capabilities, especially in mountainous regions, providing a crucial component in the soldier’s last line of defence against enemy combat aircraft, helicopters, and UAVs.

About Indian Army :

• Chief of Defence Staff : General Anil Chauhan
• Chief of the Army Staff : General Manoj Pande

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Oil signs second long-term LNG deal with France’s Total Energies

• Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in France for supply of LNG (liquefied natural gas).
• Under the contract, TotalEnergies would supply 1 million metric tonne per annum (mmtpa) of LNG to IOCL for a period of around 10 years.
• This is the second long-term contract between the two companies in the past one year.
• Last July, they had signed an agreement for supply of 0.8 mmtpa of LNG.
• Around the same period last year, the public sector refining and marketing major also signed an agreement with Abu Dhabi National Oil Company (ADNOC) for the supply of 1.2 mmtpa of LNG starting 2026.
• Chairperson: Shrikant Madhav Vaidya, Headquarters: New Delhi.

DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects

• Defence Research and Development Organisation (DRDO) will collaborate with the Indian Institute of Technology (IIT) Bhubaneswar for artificial intelligence (AI) driven surveillance and other projects .
• A meeting was held between DRDO and IIT Bhubaneswar officials recently.
• Binay Das, director general (DG) of the Electronics and Communication Systems (ECS) cluster, DRDO, and many senior scientists and officials of both institutions were present in the meeting.
• During the meeting, nine sanctioned projects of the ECS Cluster of DRDO were handed over to IIT Bhubaneswar while another 7 projects are in the process to be sanctioned with Rs 18 crore funding.
• IIT Bhubaneswar will work on the sanctioned projects, which would be beneficial in electronics warfare, AI-driven surveillance, power systems, radar systems etc, officials said.
• S R Samantaray, head of the School of Electrical sciences of IIT, the collaboration of IIT Bhubaneswar and DRDO will contribute to the emerging research and development need of defence applications, creating a platform for ‘Atma Nirbhar Bharat’.
• This form of collaboration will enhance the sustainability of defence research programmes and will be part of the eco-system for nation building.

India inks 10-year deal to operate Iran’s Chabahar port

• India signed a 10-year contract with Iran to develop and operate the Iranian port of Chabahar, the Narendra Modi-led government said, strengthening relations with a strategic Middle Eastern nation.
• India has been developing the port in Chabahar on Iran’s south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, Afghanistan and central Asian countries, bypassing the port of Karachi and Gwadar in its rival
• S. sanctions on Iran, however, slowed the port’s development.
• The long-term deal was signed between Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran, authorities in both countries said.
• Under the agreement, IPGL will invest about $120 million while there will be an additional $250 million in financing, bringing the contract’s value to $370 million, said Iranian Minister of Roads and Urban Development Mehrdad Bazrpash.
• IPGL first took over operations of the port at the end of 2018 and has since handled container traffic of more than 90,000 TEUs and bulk and general cargo of more than 8.4 million tonnes

CURRENT AFFAIRS: SPORTS NEWS

Brazil Declared Host Of 2027 Women’s World Cup At FIFA Congress

• Brazil was declared the host of the 2027 Women’s World Cup at the FIFA Congress, beating the joint bid of Belgium, Netherlands and Germany to become the first South American country to hold the tournament.
• Brazil won with 119 votes versus 78 for the joint European entry, boosted by a technical evaluation from the world governing body FIFA that gave a high score for its commercial plan and stadiums purpose-built for the 2014 Men’s World Cup.
• The 74th FIFA congress, making its debut in Premier League-mad Thailand, made its choice by open vote for the first time as the organisation seeks to move on from the corruption and shady dealing that dogged it in the past.
• Brazil hosted the men’s football World Cups in 1950 and 2014; now it’s time for women.
• This will be the first Women’s World Cup to be held in South America.
• The FIFA Women’s World Cup has seen five nations crowned champions, with the 2023 title going to Spain.
• FIFA President: Gianni Infantino.

Coca-Cola India announces its first-ever partnership with Hockey India, for the National Women’s Hockey League

• The Coca-Cola India Foundation, announces its first-ever partnership with Hockey India, for the National Women’s Hockey League 2024.
• The 1st Phase of the tournament commenced on 30thApril, and it will conclude on 9thMay 2024, in Ranchi, Jharkhand.
• The domestic league promises an exhilarating showcase of talent and skill.
• The National Women’s Hockey League features teams that secured top-eight positions in Pune’s recently concluded 14th Hockey India Senior Women National Championship 2024.
• The participating athletes represent various states, including Haryana, Maharashtra, Jharkhand, Madhya Pradesh, Bengal, Mizoram, Manipur, and Odisha.
• In line with Coca-Cola India’s commitment to sports, the three-year collaboration underscores its role in positively shaping the sports and gender equality landscape.
• The partnership also aligns with the company’s #SheTheDifference campaign, an initiative to celebrate, uplift, and support women.
• This strategic partnership aims to elevate women’s hockey by tackling essential components, such as providing specialized coaching, the provision of training equipment, nutritional support, and the organization of camps and tournaments to foster growth.

CURRENT AFFAIRS: IMPORTANT DAYS

World Metrology Day 2024 – May 20

• World Metrology Day is celebrated on May 20
• This day is observed to raise the importance of Metrology. Metrology Day is prompted by the Measurements Standards Laboratory(MSL).
• The first World Metrology Day was held in 1961.
• The World Metrological Organization came into force in 1950.
• World Metrology Day commemorates the renowned meter convention in Paris, France in the year 1875.
• After the convention, the Bureau International des Poids et Mesures(BIPM) and the International Organization of Legal Metrology(OIML) were established to ensure the importance of metrology.
• The function of the World Metrological Organization is important to people’s health and safety.

Anti-Terrorism Day 2024 – May 21

• Anti-Terrorism Day is celebrated every year on May 21.
• This day is to commemorate the death anniversary of former Prime Minister Rajiv Gandhi.
• This day is observed on the death anniversary of former Prime Minister Rajiv Gandhi in 1991.
• He was the sixth Prime Minister of India in 1984.
• Later, he was killed by terrorists in a Campaign.
• After the death of Rajiv Gandhi, the Government of V.P Singh has decided on May 21 as Anti-Terrorism Day is the 31st death anniversary of former Prime Minister Rajiv Gandhi.
• On this day, the Anti Terrorism Pledge is taken in all public places, Government Offices, Government institutions, etc.

World Day For Cultural Diversity For Dialogue And Development 2024 – May 21

• World Day for Cultural Diversity for Dialogue and Development was observed on May 21.
• UNESCO has adopted this day since 2001.
• UNESCO adopted the World Day for Cultural Diversity in 2001.
• In 2002, the United Nations General Assembly declared May 21 as World Day for Cultural Diversity for Dialogue and Development.
• In 2015, the second committee of the United Nations General Assembly adopted the resolution on Cultural Diversity.
• The United Nations General Assembly has sanctioned holidays for diversity issues.
• The 17 Sustainable Development Goals (SDG) have been achieved by creating the function of cultures.

Daily CA One- Liner: May 21

• State-owned gas utility GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier from NYSE-listed Cool Company for a 14-year period to augment its transportation capability to meet India’s rising gas needs
• The Government of India launched the IndiaAI Mission with a budget outlay of Rs.10,371.92 crore, a comprehensive national-level program to democratize and catalyze the AI innovation ecosystem in the country and ensure the global competitiveness of India’s AI startups and researchers.
• Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in France for supply of LNG (liquefied natural gas).
• Brazil was declared the host of the 2027 Women’s World Cup at the FIFA Congress, beating the joint bid of Belgium, Netherlands and Germany to become the first South American country to hold the tournament
• Thomas Cook (India) Limited’s shares were up by 2.26 per cent after the company launched TCPay, it is a service aimed at simplifying international money transfers
• The Indian Renewable Energy Development Agency Ltd (IREDA) has incorporated a wholly-owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat
• Defence Research and Development Organisation (DRDO) will collaborate with Indian Institute of Technology (IIT) Bhubaneswar for artificial intelligence (AI) driven surveillance and other projects
• India signed a 10-year contract with Iran to develop and operate the Iranian port of Chabahar, the Narendra Modi-led government said, strengthening relations with a strategic Middle Eastern nation.
• The Coca-Cola India Foundation, announces its first-ever partnership with Hockey India, for the National Women’s Hockey League 2024
• The convenience of Unified Payments Interface (UPI) platforms is increasingly favoured by merchants and consumers, reducing the reliance on debit cards for cashless transactions.
• The International Finance Corporation (IFC) has extended $500 million in financing to HDFC Bank to expand microloans for underserved women borrowers in India.
• SBI General Insurance Company Limited, one of India’s top general insurance carriers, has partnered with Bima Central, built by CAMS Insurance Repository, to launch the industry-first policyholder servicing platform, Bima Central.
• The South African government is developing mechanisms for the speedy clearance of visa applications from India and is working on a proposal to introduce E-Visas for Indian tourists.
• Sanjiv Puri, chairman and managing director of consumer goods major ITC Limited., has taken over as president of the Confederation of Indian Industry (CII) for the 2024-25 period.
• Indian expatriate Gopi Thotakura made history as he became the first Indian space tourist and the second Indian to venture into space as part of the crew for Amazon founder Jeff Bezos’ Blue Origin’s NS-25 mission.
• State Bank of India (SBI) has executed transaction documents to acquire a 6.125% stake in CCIL IFSC Limited for ₹6.125 crore.
• ICICI Bank has entered into a memorandum of understanding (MoU) in relation to an investment in the equity shares of a company to be incorporated (Target Entity) as a subsidiary of The Clearing Corporation of India (CCIL) along with seven (7) other shareholders.
• The Indian Army is set to receive Russian Igla-S very short-range air defence systems (VSHORAD) under the fourth tranche of Emergency Procurements (EP).
• World Metrology Day is celebrated on May 20 annually
• Anti-Terrorism Day is celebrated every year on May 21
• World Day for Cultural Diversity for Dialogue and Development was observed on May 21