Daily Current Affairs May 09

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs May 09. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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May 09 | Daily Current Affairs 2024

Obituary – Daily Current Affairs May 09

1. Which award did Salam Bin Razzaq win for his Urdu literature work?
A) Ghalib Award
B) Maharashtra Urdu Sahitya Akademi Award
C) Sahitya Akademi Award
D) Padma Shri
E) Jnanpith Award
Answer: C) Sahitya Akademi Award

Event and Location:

• Event: The passing of Salam Bin Razzaq, a notable Urdu litterateur.
• Location: Navi Mumbai, India.

Mandates and Objectives:

• Achievements: Salam Bin Razzaq was recognized with multiple awards throughout his career for his contributions to Urdu literature, most notably the Sahitya Akademi Award for his collection of short stories, ‘Shikasta Buton Ke Darmiyan’, in 2004.
• Career Impact: His work often reflected the life and struggles of ordinary people, aiming to provide a voice to the underrepresented in society through his literary expressions.

Important Terms Explained:

• Sahitya Akademi Award: A literary honor in India that recognizes outstanding books of literary merit published in any of the major Indian languages recognized by the Sahitya Akademi, India’s National Academy of Letters.
• Urdu Literature: A rich tradition of poetry and prose in the Urdu language, with strong cultural roots in South Asia, particularly in India and Pakistan.

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Ranking – Daily Current Affairs May 09

2. Which country became the first to receive over $100 billion in remittances in 2022?
A) China
B) Mexico
C) India
D) France
E) Philippines
Answer: C) India

Event and Location:

• Event: India becoming the first country to receive over $100 billion in remittances in a single year.
• Location: India.

Mandates and Objectives:

• Significance of Remittances: These funds, sent home by migrants working abroad, play a crucial role in the economy of receiving countries, supporting millions of families and contributing significantly to their GDP.
• Trends: India’s remittance inflows have shown consistent growth, indicating the importance of its diaspora and their contribution to the national economy.

Important Terms Explained:

• Remittances: Funds transferred by foreign workers to individuals in their home country. These are often used for family support and are a vital source of foreign exchange for many countries.
• International Organisation for Migration (IOM): An intergovernmental organization that provides services and advice concerning migration to governments and migrants, including internally displaced persons, refugees, and migrant workers.

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3. In 2023, which country did India surpass to become the third-largest solar power generator globally?
A) United States
B) Brazil
C) Japan
D) China
E) Germany
Answer: C) Japan

Event and Location:

• Event: India surpassing Japan to become the third-largest solar power generator in the world in 2023.

Mandates and Objectives:

• Strategic Importance: This advancement underscores India’s commitment to increasing clean electricity production, crucial for reducing carbon emissions and supporting sustainable economic growth.
• Global Impact: India’s rise in solar power generation aligns with global efforts to transition to renewable energy sources, reflecting significant progress in solar energy deployment.

Important Terms Explained:

• Solar Power Generator: A country or entity that produces electricity by converting solar energy into power.
• Ember: A global energy think tank that monitors and reports on electricity generation trends and transitions to sustainable energy.

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Banking and Finance – Daily Current Affairs May 09

4. What is the total grant amount awarded by HDFC Bank’s Parivartan Start-up Grants programme for FY2024?
A) Rs 15.5 crore
B) Rs 19.6 crore
C) Rs 20 crore
D) Rs 18.2 crore
E) Rs 17.5 crore
Answer: B) Rs 19.6 crore

Event and Location:

• Event: HDFC Bank announces the award of grants through its Parivartan Start-up Grants programme for FY2024.
• Location: Mumbai, India.

Mandates and Objectives:

• Purpose: To support social sector start-ups through financial grants, fostering social innovation and positive change in various communities across India.
• Partnership Details: The programme is conducted in partnership with the Atal Innovation Mission under NITI Aayog, focusing on key areas like climate innovation, financial inclusion, and sustainable rural economy.

Important Terms Explained:

• Parivartan Start-up Grants: A funding initiative by HDFC Bank aimed at supporting social sector start-ups in India by providing them with grants to help scale their impact.
• Atal Innovation Mission (AIM): A Government of India endeavour to promote a culture of innovation and entrepreneurship across the country, under the umbrella of NITI Aayog.

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5. How much did the Reserve Bank of India accept in total for the buyback of Government Securities during the auction?
A) ₹10,513 crore
B) ₹17,384.552 crore
C) ₹28,464.954 crore
D) ₹40,000 crore
E) ₹1.92-lakh crore
Answer: A) ₹10,513 crore

Event and Location:

• Event: Reserve Bank of India’s buyback auction for Government Securities.
• Location: Mumbai, India.

Mandates and Objectives:

• Objective of the Auction: To buy back Government Securities as part of the central bank’s financial management strategies.
• Market Dynamics: The RBI’s acceptance of offers reflects its assessment of fair market values, rejecting offers priced out of sync with secondary market prices.

Important Terms Explained:

• Government Securities (G-Secs): Debt instruments issued by a government to support government spending and obligations.
• Buyback: The process by which a government or corporation purchases its own debt securities or shares from the marketplace, typically to manage the supply of money or to boost the value of the security or for financial restructuring.

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Appointments – Daily Current Affairs May 09

6. Who was approved by the IRDAI to become the Chairman of HDFC Life in May 2024?
A) Deepak Parekh
B) Keki Mistry
C) Nandan Nilekani
D) Shikha Sharma
E) Aditya Puri
Answer: B) Keki Mistry

Event and Location:

• Event: Appointment of Keki Mistry as Chairman of HDFC Life.
• Location: India.

Mandates and Objectives:

• Reason for Appointment: The position was vacated by Deepak Parekh, necessitating a new appointment to maintain leadership stability and oversight at HDFC Life.
• Approval Process: The appointment required and received approval from the Insurance Regulatory and Development Authority of India (IRDAI), ensuring compliance with regulatory standards.

Important Terms Explained:

• IRDAI (Insurance Regulatory and Development Authority of India): The national regulatory body for the insurance sector in India, responsible for overseeing and directing the insurance industry to protect consumer interests.
• Chartered Accountant: A professional designation given to accounting professionals in many countries around the world that often signifies a higher standard of competency in the field of accountancy.

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7. Who was sworn in as the seventh First Minister of Scotland?
A) Humza Yousaf
B) Nicola Sturgeon
C) John Swinney
D) Kate Forbes
E) Graeme McCormick
Answer: C) John Swinney

Event and Location:

• Event: John Swinney being sworn in as the seventh First Minister of Scotland.
• Location: Court of Session, Edinburgh, Scotland.

Mandates and Objectives:

• Responsibilities: As First Minister, Swinney is expected to appoint his cabinet and lead the government with a focus on collaborative work across the parliament to address issues like child poverty.
• Leadership Style: Swinney intends to use a “moderate centre left” platform and seeks to work inclusively with other political parties to govern effectively.

Important Terms Explained:

• First Minister: The head of the Scottish Government, responsible for the overall direction and administration of the devolved government in Scotland.
• SNP (Scottish National Party): A political party in Scotland that supports and campaigns for Scottish independence.

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8. Who has been appointed as the Chief Information Security Officer of NPCI in 2024?
A) Vishwanath Krishnamurthy
B) Benjamin Ambrose
C) Pravin Kumar
D) Ashok Kumar
E) Rajesh Singh
Answer: B) Benjamin Ambrose

Event and Location:

• Event: Appointment of Benjamin Ambrose as the Chief Information Security Officer of NPCI. NPCI has appointed Pravin Kumar as Chief Market Information Security Officer.
• Location: Mumbai, India.

Mandates and Objectives:

• Objective of Appointments: To enhance NPCI’s data protection and security capabilities, particularly in response to increased scrutiny and regulatory demands on information security within the financial sector.
• Roles and Responsibilities: Benjamin Ambrose’s role includes ascertaining and controlling risks, developing security standards, and enhancing NPCI’s security capabilities.

Important Terms Explained:

• NPCI (National Payments Corporation of India): An organization that operates retail payments and settlement systems in India. It is an initiative of the Reserve Bank of India (RBI) and an umbrella organization for operating retail payments in India.
• Chief Information Security Officer: A senior-level executive responsible for an organization’s information and data security.

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Defence – Daily Current Affairs May 09

9. Who is chairing the “Parivartan Chintan – II” conference on jointness and integration of the Indian Armed Forces?
A) Chief of Army Staff
B) Chief of Naval Staff
C) Chief of Air Staff
D) Chief of Defence Staff
E) Prime Minister of India
Answer: D) Chief of Defence Staff

Event and Location:

• Event: “Parivartan Chintan – II”, a conference focused on jointness and integration of the Indian Armed Forces.
• Location: New Delhi, India.

Mandates and Objectives:

• Purpose of the Conference: To review progress and ideate on reforms necessary for achieving transformation through jointness and integration among the Indian Armed Forces.
• Leadership Role: Chaired by the Chief of Defence Staff, General Anil Chauhan, highlighting his pivotal role in coordinating the efforts across the three services.

Important Terms Explained:

• Parivartan Chintan: A conference series aiming at fostering novel reformative ideas and initiatives for the integration of the Indian Armed Forces.
• Theaterization: A military restructuring strategy that involves organizing military resources under unified, geographically organized commands to enhance operational efficiency and coordination.

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National Affairs – Daily Current Affairs May 09

10. Which initiative has been launched by Manipur Governor Anusuiya Uikey to educate students in relief camps?
A) School Bus Program
B) School on Wheels
C) Education in Relief Camps
D) Mobile Learning Centers
E) Study Camp Initiative
Answer: B) School on Wheels

Event and Location:

• Event: Launch of the “School on Wheels” initiative.
• Location: Manipur, India.

Mandates and Objectives:

• Purpose: To provide education to students who are temporarily residing in relief camps due to ethnic conflict and natural disasters.
• Initiative Details: The “School on Wheels” includes a bus equipped with a library, computers, and sports items, and it visits various relief camps with a teacher to ensure continued education for displaced students.

Important Terms Explained:

• School on Wheels: A mobile educational initiative that brings schooling facilities to displaced students in various locations, particularly in temporary relief camps.
• Ethnic Conflict: Refers to conflicts between different ethnic groups. In this context, it pertains to the strife between the Meitei and Kuki-Zomi communities in Manipur.
• SDRF (State Disaster Response Fund): Used here for providing financial assistance and essential commodities to those affected by the hailstorm in Manipur.

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11. Which subsidiary has IREDA incorporated in GIFT City, Gujarat?
A) IREDA International Finance Limited
B) Global Green Energy Investments IFSC Limited
C) IREDA Global Green Energy Finance IFSC Limited
D) IREDA Renewable Investments Global Limited
E) Green Energy Global Finance IFSC Limited
Answer: C) IREDA Global Green Energy Finance IFSC Limited

Event and Location:

• Event: Incorporation of “IREDA Global Green Energy Finance IFSC Limited” by Indian Renewable Energy Development Agency Ltd. (IREDA).
• Location: International Financial Services Centre (IFSC), GIFT City, Gujarat, India.

Mandates and Objectives:

• Strategic Purpose: To extend IREDA’s global reach and secure competitive funding for the renewable energy sector, supporting India’s ambitious renewable energy goals.
• Operational Advantages: The subsidiary will act as an offshore platform, enhancing IREDA’s ability to access innovative financial solutions and collaborate with international investors.

Important Terms Explained:

• IREDA (Indian Renewable Energy Development Agency Ltd.): A government-owned agency under the administrative control of the Ministry of New and Renewable Energy, focused on promoting, developing, and extending financial assistance for renewable energy and energy efficiency/conservation projects.
• IFSC (International Financial Services Centre): Specialized zones in India designed to provide financial services to customers outside the jurisdiction of the domestic economy, facilitating external flows of finance, financial products, and services across borders.

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12. What is the main aim of the “Telecom Design Collaboration Sprint” organized by the Department of Telecommunications (DoT)?
A) To regulate the telecommunications sector more effectively
B) To enhance global communication standards
C) To foster innovation in the development of a comprehensive and future-ready telecom stack
D) To provide training to telecom professionals
E) To reduce the cost of telecom services in India
Answer: C) To foster innovation in the development of a comprehensive and future-ready telecom stack

Event and Location:

• Event: The “Telecom Design Collaboration Sprint” organized by the Department of Telecommunications (DoT).
• Location: IIIT Bangalore, India.

Mandates and Objectives:

• Collaborative Goals: To bring together startups/MSMEs, academia, and research institutions to drive innovation and solution development in the telecom sector, particularly focusing on 5G technologies and setting the groundwork for 6G advancements.
• Innovation and Market Focus: The initiative aims to leverage collective strengths to foster holistic solutions and create market opportunities within the telecom industry.

Important Terms Explained:

• Telecom Design Collaboration Sprint: A first-of-its-kind initiative by DoT aimed at rapid ideation and solution development in telecom technologies, specifically targeting advancements in 5G and preparation for 6G.
• 5G and 6G technologies: The fifth and upcoming sixth generations of mobile network technology, offering faster speeds, lower latency, and the capacity to connect many devices.

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