Daily Current Affairs 03rd May 2024, Important News Headlines (Daily GK Update)

International News

Solomon Islands Elects Pro-China Leader Jeremiah Manele as New Prime Minister

In a significant political development, the Solomon Islands has elected former Foreign Minister Jeremiah Manele as its new prime minister, indicating that the South Pacific island nation is likely to maintain close ties with China.

Banking News

RBI Imposes Monetary Penalties on Co-operative Banks

The Reserve Bank of India (RBI) has recently imposed monetary penalties on several co-operative banks for various regulatory violations. These penalties are based on deficiencies in regulatory compliance and are not intended to validate or invalidate any specific transactions or agreements entered into by the banks with their customers.

NPCI Partners with Bank of Namibia to Develop UPI-Like Instant Payment System

In a groundbreaking move, NPCI International Payments Limited (NIPL) has joined hands with the Bank of Namibia (BoN) to introduce a real-time payment system akin to India’s Unified Payment Interface (UPI) in Namibia. This partnership marks NPCI’s first collaboration with a central bank for deploying the UPI stack in an international market, aiming to revolutionize digital payments in Namibia.

RBI Announces 8% Interest on Floating Rate Bond 2034: All You Need to Know

The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, with the Reserve Bank of India (RBI) declaring an 8% interest rate for the Floating Rate Savings Bond (FRSB) 2034. This bond offers a variable interest rate that resets every six months, reflecting market conditions.

Economy News

India’s Manufacturing Activity in April: Second Strongest in 3.5 Years

India’s manufacturing sector has continued its robust performance into the first quarter of the new fiscal year, maintaining its momentum from the previous year’s stellar showing. In April, the HSBC India Manufacturing Purchasing Managers’ Index (PMI) revealed a buoyant picture, with manufacturing activity registering its second strongest expansion since early 2021.

Micron’s Venture in India: Rollout of First India-Made Chips

Micron India’s Sanand unit gears up to unveil its inaugural batch of domestically manufactured semiconductor chips in 2025, with a focus on global exportation. Anand Ramamoorthy, the managing director, underscores the burgeoning global demand, strategic partnerships, and the diverse applications spanning various sectors, notably emphasizing agility and the scarcity of talent in niche domains such as cybersecurity.

Adani Green Energy Secures $400 Million Financing for 750 MW Solar Projects

Adani Green Energy Ltd (AGEL) has successfully secured USD 400 million financing from a consortium of five leading international banks for its 750 MW solar projects in Rajasthan and Gujarat. The financing will support the construction of these projects, expected to come online from November 2024 onwards.

Business News

Former BharatPe COO Dhruv Bahl Launches Eternal Capital VC Fund

In the dynamic landscape of Indian startups, former BharatPe COO Dhruv Dhanraj Bahl steps into the world of venture capital with the launch of his maiden fund, Eternal Capital, with a substantial corpus of Rs 240 crore, including a greenshoe option.

Appointments News

Pratima Singh (IRS) Appointed as Director in DPIIT

The Department of Personnel & Training (DoPT) has announced the appointment of Pratima Singh, an officer of the Indian Revenue Service (IRS), as the Director in the Department of Promotion of Industry and Internal Trade (DPIIT).

Sports News

Amul Becomes Lead Sponsor for USA and South Africa in T20 World Cup 2024

The renowned Indian dairy giant Amul has been named the Lead Arm sponsor for the USA and South Africa cricket teams during the highly anticipated T20 World Cup in June.

ICC Imposes Five-Year Ban on West Indies Cricketer Devon Thomas for Anti-Corruption Breaches

The International Cricket Council (ICC) has taken strong action against West Indies player Devon Thomas by imposing a five-year period of ineligibility from all cricket after he admitted to breaching multiple anti-corruption codes.

India to Host 2025 BWF World Junior Badminton Championships in Guwahati

The Badminton World Federation (BWF) has announced that India will host the prestigious 2025 BWF World Junior Championships at the National Centre of Excellence in Guwahati. This marks a significant milestone as India will be hosting this premier badminton event for the first time since 2008, when it was held in Pune.

Banking News

ICICI Bank Joins India’s Top 5 Companies with Market Cap Surpassing Rs 8 Trillion

In a remarkable achievement, ICICI Bank has etched its name among India’s top five companies by market capitalization, surpassing the Rs 8 trillion mark. The private lender’s shares surged over 5%, propelling its market value to new heights and cementing its position as a financial powerhouse.

Important Days

World Press Freedom Day 2024 Celebrates on May 3rd

On May 3rd, the global community will come together to observe World Press Freedom Day, a significant event that honours the fundamental principles of press freedom and the vital role journalists play in informing and enlightening the public. This year, World Press Freedom Day falls on a Friday, and the theme for 2024 is “A Press for the Planet: Journalism in the Face of the Environmental Crisis.” The theme highlights the crucial role of journalism and freedom of expression in addressing the global environmental crisis and driving meaningful action on pressing environmental issues.

Obituaries News

Veteran Politician and Former Union Minister V. Srinivas Prasad Passes Away at 76

The Indian political landscape has lost a seasoned leader with the passing of V. Srinivas Prasad, a Bharatiya Janata Party (BJP) Member of Parliament (MP) and former Union Minister. Prasad, who had an illustrious career spanning five decades, breathed his last at the age of 76 in Bengaluru, Karnataka.