Daily Current Affairs 29th May 2024, Important News Headlines (Daily GK Update)

International News

Massive Landslide in Papua New Guinea Buries Entire Village

A devastating landslide in the remote village of Yambali in the Enga Province of Papua New Guinea has buried an entire village, resulting in a catastrophic loss of life. According to the United Nations agency International Organization for Migration (IOM), more than 670 people have died, and over 2000 are feared trapped under the soil. The death toll is likely to rise as rescue efforts are hampered by the region’s inaccessibility and remoteness.

Banking News

RBI Launches PRAVAAH, Retail Direct Mobile App, and FinTech Repository

The Reserve Bank of India (RBI) Governor Shaktikanta Das has unveiled three major initiatives: the Pravaah portal, the Retail Direct Mobile App, and a FinTech Repository. These initiatives, previously announced in the RBI’s bi-monthly Statement on Development and Regulatory Policies in April 2023, April 2024, and December 2023, aim to enhance regulatory processes, provide easier access to government securities for retail investors, and improve the understanding of the FinTech sector.

Poonawalla Fincorp and IndusInd Bank Launch Co-Branded RuPay Credit Card

Poonawalla Fincorp Limited, in partnership with IndusInd Bank, has introduced the co-branded ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. This new card, designed to enhance customer experience with rewards and benefits, is available without any joining or annual fees. Users can earn rewards for every ₹100 spent, including UPI transactions, and benefit from 2.5 times reward points on e-commerce transactions. Additional perks include a ₹0.40 cash credit per reward point, buy-one-get-one movie ticket offers through BookMyShow, a 1% fuel surcharge waiver, and milestone achievement rewards.

Business News

Reliance Industries to Begin Construction on India’s First Multimodal Logistics Park Near Chennai

Reliance Industries is set to begin construction on India’s first Multimodal Logistics Park at Mappedu near Chennai in June, a project conceptualized 12 years ago. Despite initial setbacks, the project, valued at Rs 1,424 crore and spanning 184.27 acres in Tiruvallur district, is now ready to proceed, with potential to revolutionize the southern region’s logistics landscape.

Reliance Industries Strikes Deal with Rosneft for Rouble Payments

Reliance Industries, India’s major refining company, has inked a significant agreement with Russia’s Rosneft. Under this deal, Reliance will purchase at least 3 million barrels of oil per month from Rosneft, paying in Russian roubles. This move aligns with Russian President Vladimir Putin’s call for alternative trading mechanisms amid Western sanctions. Additionally, the agreement enables Reliance to secure oil at discounted rates amidst expectations of extended OPEC+ supply cuts.

Reliance Industries Partners with Norway’s Nel to Boost New Energy Investments

Reliance Industries Ltd (RIL) has forged a significant technology partnership with Norway’s Nel ASA to expedite its foray into new energy investments. This alliance is poised to play a pivotal role in facilitating RIL’s transition towards green energy, particularly through the production of green hydrogen.

Economy News

Indian Economy Grew 7.4% in Q4 FY24; 8% in FY24: SBI Research Report

The Indian economy showcased robust growth, with a GDP increase of 7.4% in Q4 FY24 and an overall 8% growth for the fiscal year FY24, according to an SBI Research report. This announcement comes ahead of the official GDP figures release by the Centre on May 31 for Q4 FY24 and the provisional estimates for FY24. The Reserve Bank of India (RBI) estimated Q4 FY24 real GDP growth at 7.3%, with expectations for Q1 FY25 at 7.5%, and full-year FY25 growth projected at 7.0%. Chief Economic Adviser V. Anantha Nageswaran also indicated a high possibility of India’s economic growth touching 8% in FY24.

Schemes News

Crackdown on Fraudulent SMS Under Sanchar Saathi Initiative

In a concerted effort to combat the rising threat of fraudulent SMS, the Department of Telecommunication (DoT), in collaboration with the Union Ministry of Home Affairs, has launched the Sanchar Saathi Initiative. This initiative aims to tackle the proliferation of deceptive messages targeting unsuspecting mobile users. Notably, the government has identified and blocked eight SMS headers frequently exploited by cybercriminals.

Awards News

Indian Peacekeeper Receives UN Military Gender Advocate of the Year Award

Major Radhika Sen, an Indian military peacekeeper serving with the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO), has been awarded the prestigious 2023 United Nations Military Gender Advocate of the Year Award. This award recognizes her dedication and efforts in promoting the principles of UN Security Council resolution 1325 on women, peace, and security.

Sports News

ICC Players of the Month for April 2024 Announced

Hayley Matthews, the West Indies captain, has been named the ICC Women’s Player of the Month for her exceptional all-round performances that spearheaded the West Indies’ success in Pakistan across both ODI and T20I series. Muhammad Waseem, the UAE captain and opener, has been named the ICC Men’s Player of the Month for his notable run-scoring feats as the UAE triumphed in the ACC Premier Cup.

Important Days

International Day of United Nations Peacekeepers 2024 Celebrated Annually on May 29th

On the International Day of United Nations Peacekeepers, celebrated annually on May 29th, we honour the extraordinary contributions of peacekeepers towards international peace and security. Since the establishment of the first UN peacekeeping mission in 1948, more than two million peacekeepers have served in 71 missions, helping countries navigate from war to peace. This year, the United Nations commemorates the International Day of Peacekeepers under the theme, “Fit for the Future: Building Better Together.”

Celebrating International Day of Action for Women’s Health 2024

The International Day of Action for Women’s Health in 2024 holds immense significance as it serves as a powerful platform to advocate for gender equality, women’s rights, and ensuring a healthy and fulfilling life for all women worldwide.

World Hunger Day 2024, A Call to End Global Hunger

On May 28th, the world unites for World Hunger Day, a day dedicated to raising awareness about the urgent issue of global hunger. It’s time to acknowledge the millions suffering from malnutrition and the need for sustainable solutions to end hunger for good. The theme for 2024 is “Mobilising in Critical Times of Threats and Opportunities,” which emphasizes empowering women to make decisions independently, free from coercion and discrimination.

Sports News

Legendary Disney Songwriter Richard M. Sherman Passes Away at 95

Richard M. Sherman, one half of the renowned Sherman Brothers duo, who crafted some of Disney’s most iconic and memorable songs, has passed away at the age of 95. Sherman, along with his late brother Robert, left an indelible mark on millions of childhoods through their award-winning compositions for films like “Mary Poppins,” “The Jungle Book,” and “Chitty Chitty Bang Bang.”

Miscellaneous News

Indian Mountaineer Satyadeep Gupta Achieves Historic Double Dual Ascent

In a remarkable feat, Indian mountaineer Satyadeep Gupta has etched his name in history by becoming the first person to scale Mt. Everest and Mt. Lhotse twice in a single season. Additionally, he is the first Indian to traverse the two peaks in an astonishing 11 hours and 15 minutes.