Daily Current Affairs May 18 & 19

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 18 & 19. 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.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

May 18 & 19 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 18 & 19

1. What was the theme for the International Day for Women in Maritime celebrated by the Ministry of Ports, Shipping and Waterways in 2024?
A) Women Empowerment in Maritime
B) Safe Horizons: Women in Shaping the Future of Maritime Safety
C) Gender Equality in Maritime Sector
D) Women Leaders in Maritime
E) Sustainable Maritime Practices
Answer: B) Safe Horizons: Women in Shaping the Future of Maritime Safety

Event and Location:

• Event: International Day for Women in Maritime
• Location: New Delhi, India
• Date: May 18, 2024

Mandates:

• Mandate: Celebrating the contributions of women seafarers and emphasizing the importance of gender equality in the maritime sector.

Objectives:

• Recognize and honor women seafarers for their dedication and contributions.
• Highlight the theme “Safe Horizons: Women in Shaping the Future of Maritime Safety,” focusing on the safety and security of women in maritime.
• Promote gender equality as a key pillar for a sustainable future in the maritime industry.

Important Terms Explained:

• International Day for Women in Maritime: A day dedicated to acknowledging and celebrating the contributions of women in the maritime sector.
• Sustainable Development Goal 5: One of the United Nations Sustainable Development Goals, aiming to achieve gender equality and empower all women and girls.
• International Maritime Organization (IMO): A specialized agency of the United Nations responsible for regulating shipping and promoting maritime safety and security.

Static GK Information:

Tabular Summary:

---

2. On which date is World AIDS Vaccine Day observed annually to raise awareness and support for the development of an AIDS vaccine?
A) April 7
B) May 18
C) June 5
D) July 11
E) December 1
Answer: B) May 18

Event and Location:

• Event: World AIDS Vaccine Day
• Location: Observed globally
• Date: Annually on May 18

Mandates and Objectives:

• Mandate: To raise awareness about the urgent need for an AIDS vaccine.

Objectives:

• Mobilize greater support for the development of an HIV vaccine.
• Recognize and thank scientists, doctors, volunteers, and health professionals working on the AIDS vaccine.
• Combat the stigma surrounding HIV/AIDS.

Important Terms Explained:

• AIDS (Acquired Immunodeficiency Syndrome): A chronic and potentially life-threatening condition caused by the human immunodeficiency virus (HIV).
• HIV (Human Immunodeficiency Virus): The virus that causes AIDS by attacking the immune system, making the body more susceptible to infections and certain cancers.
• Antiretroviral Therapy (ART): Treatment that helps manage HIV symptoms and slows the progression of the virus.
• Pre-Exposure Prophylaxis (PrEP): Medication taken to prevent HIV infection in people who are at high risk.

History:

• First Observed: May 18, 1998
• Significant Speech: On May 18, 1997, then-US President Bill Clinton advocated for the development of an AIDS vaccine, marking the date for World AIDS Vaccine Day.

Significance:

• Public Health Challenge: The HIV/AIDS epidemic has claimed millions of lives since the 1980s.
• Ongoing Need: Despite advances in treatment, an effective HIV vaccine is still not available, making the continued effort for its development crucial.
• Global Initiative: The day underscores the need for solidarity and global cooperation in combating HIV/AIDS.

Tabular Summary:

---

3. What is the theme for International Museum Day 2024?
A) Museums as Cultural Hubs
B) Museums and Digital Innovation
C) Museums for Education and Research
D) Museums and the Environment
E) Museums and Community Engagement
Answer: C) Museums for Education and Research

Event and Location:

• Event: International Museum Day 2024
• Location: Celebrated globally
• Date: May 18, 2024 (Saturday)

Mandates and Objectives:

• Mandate: Enhance public awareness of museums and highlight their important role in society.

Objectives:

• Raise awareness about the educational and research roles of museums.
• Promote the cultural, historical, and scientific value of museums.
• Encourage public engagement with museums through themed events and activities.

Important Terms Explained:

• ICOM (International Council of Museums): The organization that initiated International Museum Day, aiming to promote the role of museums in society.
• Artefacts: Objects made by humans, typically an item of cultural or historical interest, preserved in museums.

History:

• First Observed: 1977
• Initiated by: International Council of Museums (ICOM)
• Purpose: Unite the creative efforts of museums and raise global awareness about their activities.
• Theme Adoption: The tradition of adopting an annual theme began in 1992.
• Growth: From 20,000 museums in 90 countries in 2009 to 35,000 museums in 140 countries by 2014.

Significance:

• Global Unity: International Museum Day aims to unite museums globally, emphasizing their role in fostering understanding and appreciation of diverse cultures.
• Educational Value: Museums serve as vital educational resources, providing insights into art, culture, history, and science.
• Public Engagement: Encourages people to visit museums and participate in events, enhancing public appreciation of cultural heritage.

Static GK Information:

Tabular Summary:

---

Obituary – Daily Current Affairs May 18 & 19

4. Which legendary Indian banker and former chairman of ICICI Bank recently passed away at the age of 88?
A) K V Kamath
B) Narayanan Vaghul
C) Shaktikanta Das
D) Anand Mahindra
E) Madan Sabnavis
Answer: B) Narayanan Vaghul

Event and Location:

• Event: Death of Narayanan Vaghul, legendary Indian banker and former chairman of ICICI Bank.
• Location: Chennai, India.

Mandates and Objectives:

• Mandate: Vaghul’s career spanned multiple banks and influential roles where he was instrumental in shaping India’s financial sector.

Objectives:

• Helped build ICICI Bank into a leading financial institution.
• Mentored many senior executives, including K V Kamath.
• Advocated for innovation and large-scale implementation in the banking sector.

Important Terms Explained:

• ICICI Bank: A major Indian multinational banking and financial services company.
• Padma Bhushan: The third-highest civilian award in India, awarded to Vaghul in 2009 for his contributions to banking and finance.
• Philanthropy: Vaghul’s belief in philanthropy extended beyond financial contributions, emphasizing meaningful societal impact.

Static GK Information:

Tabular Summary:

---

5. Which Padma Shri recipient and veteran author recently passed away at nearly 90 years of age?
A) Ruskin Bond
B) R K Narayan
C) Malti Joshi
D) Khushwant Singh
E) Anita Desai
Answer: C) Malti Joshi

Event and Location:

• Event: Death of veteran author and storyteller Malti Joshi.

Mandates and Objectives:

• Mandate: Recognize the passing of a distinguished literary figure whose works have been extensively researched and appreciated.

Objectives:

• Acknowledge Malti Joshi’s contributions to literature and storytelling.
• Highlight her influence and recognition, including being a Padma Shri recipient.

Important Terms Explained:

• Padma Shri: The fourth-highest civilian award in India, given for distinguished contributions in various fields, including arts and literature.
• Storytelling: The art of conveying events in words, images, and sounds, often by improvisation or embellishment.

Static GK Information:

Tabular Summary:

---

Banking and Finance – Daily Current Affairs May 18 & 19

6. Which entity’s shareholders and non-convertible debenture (NCD) holders recently approved a proposal to merge with IDFC First Bank?
A) HDFC
B) ICICI
C) IDFC Ltd
D) SBI
E) Axis Bank
Answer: C) IDFC Ltd

Event and Location:

• Event: Approval of merger between IDFC Ltd and IDFC First Bank by shareholders and NCD holders.
• Location: Meeting convened by the National Company Law Tribunal (NCLT) on May 17, conducted via video conferencing and other audio-visual means.

Mandates and Objectives:

• The objective of the merger is to combine IDFC Ltd with IDFC First Bank to streamline operations and leverage the strengths of both entities.
• Mandate: The approval of the composite scheme of amalgamation by an overwhelming majority of equity shareholders (99.95%) and NCD holders (99.99%).

Important Terms Explained:

• Non-Convertible Debenture (NCD): A debt instrument that cannot be converted into equity shares but provides regular interest payments.
• Amalgamation: The process of merging two or more companies into a single entity to consolidate assets and liabilities.
• Reverse Merger Scheme: A method where a private company becomes a public company by acquiring an already public company.

Static GK Information:

Tabular Summary:

---

7. Which bank recorded the highest growth rate in terms of total business and deposit mobilisation among public sector banks in FY24?
A) State Bank of India
B) Bank of India
C) Canara Bank
D) Bank of Maharashtra
E) Central Bank of India
Answer: D) Bank of Maharashtra

Event and Location:

• Event: Bank of Maharashtra tops among PSU banks in business growth in FY24.
• Location: New Delhi, India

Mandates and Objectives:

Business Growth:

• Bank of Maharashtra (BoM) recorded the highest growth rate in total business and deposit mobilisation among public sector banks (PSBs) in FY24.
• Total Business Growth: BoM achieved a 15.94% rise in total business (domestic) for FY24.
• Deposit Mobilisation Growth: BoM saw a 15.66% rise in deposit mobilisation, the highest among PSBs.

CASA Deposits:

• BoM led in low-cost Current Account Savings Account (CASA) deposits with a growth of 52.73%, followed by the Central Bank of India with a 50.02% rise.

Loan Growth:

• UCO Bank reported the highest loan growth at 16.38%, followed closely by BoM at 16.30%, and SBI at 16.26%.

Asset Quality:

• Gross NPAs: BoM and SBI reported the lowest gross Non-Performing Assets (NPAs) at 1.88% and 2.24%, respectively.
• Net NPAs: BoM and Indian Bank reported the lowest net NPAs at 0.2% and 0.43%, respectively.

Capital Adequacy Ratio:

• BoM led with a Capital Adequacy Ratio of 17.38%, followed by Indian Overseas Bank (17.28%) and Punjab & Sind Bank (17.16%).

Important Terms Explained:

CASA Deposits:

• Stands for Current Account Savings Account deposits, which are low-cost funds for banks as they typically pay lower interest rates on these accounts.

Gross NPA (Non-Performing Assets):

• Represents the total amount of non-performing assets before accounting for provisions. It indicates the health of a bank’s loan portfolio.

Net NPA:

• Represents the amount of non-performing assets after accounting for provisions. Lower net NPAs indicate better asset quality.

Capital Adequacy Ratio:

• A measure of a bank’s capital expressed as a percentage of its risk-weighted assets. It ensures that the bank can absorb a reasonable amount of loss and complies with statutory requirements.

Static GK Information:

Tabular Summary:

---

Acquisitions and Mergers – Daily Current Affairs May 18 & 19

8. What percentage stake did SBI acquire in CCIL IFSC to strengthen its presence in GIFT City?
A) 5.00%
B) 6.125%
C) 7.50%
D) 10.00%
E) 15.00%
Answer: B) 6.125%

Event and Location:

• Event: Acquisition of a 6.125% stake in CCIL IFSC by State Bank of India (SBI).
• Location: Gujarat International Finance Tec City (GIFT City), India.

Mandates and Objectives:

• Mandate: SBI has executed transaction documents to acquire a 6.125% stake in CCIL IFSC Limited.

Objectives:

• To operate the foreign currency settlement system.
• To act as a clearing house and system operator at the International Financial Services Centre (IFSC) in GIFT City.
• Strengthen SBI’s presence in GIFT City.

Important Terms Explained:

• CCIL IFSC: A subsidiary of Clearing Corporation of India Ltd (CCIL) focused on foreign currency settlement and clearing house operations at GIFT City.
• GIFT City: Gujarat International Finance Tec-City, a business district in Gujarat, India, designed to provide high-quality infrastructure and services for financial services companies.
• Foreign Currency Settlement System: A system for settling foreign currency transactions, ensuring efficient and secure transfer of funds between parties.
• Clearing House: An intermediary that facilitates the exchange of payments, securities, or derivatives transactions, ensuring the smooth functioning of financial markets.

Static GK Information:

Tabular Summary:

---

Appointments – Daily Current Affairs May 18 & 19

9. Who will be appointed as the new MD and CEO of IndiaFirst Life Insurance following the retirement of R M Vishakha?
A) Dinesh Kumar Khara
B) V. Vaidyanathan
C) Rushabh Gandhi
D) Vikram Limaye
E) Sunil Kakar
Answer: C) Rushabh Gandhi

Event and Location:

• Event: Appointment of Rushabh Gandhi as the Managing Director (MD) and CEO of IndiaFirst Life Insurance.
• Location: Mumbai, India.

Mandates and Objectives:

• Mandate: The board of IndiaFirst Life Insurance has approved the elevation of Deputy CEO Rushabh Gandhi to MD and CEO, following the retirement of current MD and CEO R M Vishakha.

Objectives:

• Ensure a smooth leadership transition.
• Continue driving growth and profitability of IndiaFirst Life Insurance under new leadership.

Important Terms Explained:

• Managing Director (MD) and CEO: The MD and CEO is responsible for the overall management and strategic direction of the company.
• Life Insurance Sector: The sector providing financial protection to individuals against the risk of death, offering various insurance products like term life, whole life, and endowment policies.

Static GK Information:

Tabular Summary:

---

10. Who has taken over as the President of the Confederation of Indian Industry (CII) for the year 2024-25?
A) R Dinesh
B) Rajiv Memani
C) R Mukundan
D) Sanjiv Puri
E) Mukesh Ambani
Answer: D) Sanjiv Puri

Event and Location:

• Event: Appointment of Sanjiv Puri as the President of Confederation of Indian Industry (CII) for 2024-25.
• Location: India

Mandates and Objectives:

CII’s New Leadership:

• President: Sanjiv Puri, Chairman and Managing Director of ITC Limited, has taken over as the President of CII for 2024-25.
• President-Elect: Rajiv Memani, Chairman of EY India, is the President-Elect for 2024-25.
• Vice President: R Mukundan, Managing Director & CEO of Tata Chemicals Limited, is the Vice President.

Puri’s Background and Contributions:

• Puri is an alumnus of IIT Kanpur and Wharton School of Business.
• He has led significant initiatives including the Expert Group on agri-exports by the 15th Finance Commission and NITI Aayog Group on ‘Farm to Table-driving India’s agriculture sector digitally’.
• He chairs the ‘Action Council on ESG in Business’ under Business 20 India.
• Puri is a member of the Governing and Executive Board of Indian School of Business (ISB) and the Board of US-India Strategic Partnership Forum.
• He is also the Chairman of the Board of Governors of IIT, Gandhinagar and a member of the BRICS Business Council.

Vision and Strategy:

• As Chairman of ITC, Puri spearheads the ITC Next vision, focusing on future technology, climate positivity, innovation, and inclusivity.
• Puri also holds key positions in ITC Infotech India Ltd and its subsidiaries in the UK and USA, as well as Surya Nepal Private Ltd.

Important Terms Explained:

CII (Confederation of Indian Industry):

• An apex industry body in India that works to create and sustain an environment conducive to the development of India.
• Engages with policy makers, thought leaders, and industry leaders to shape economic policies.

ESG (Environmental, Social, and Governance):

• Criteria used to evaluate a company’s operations and performance on environmental sustainability, social impact, and governance practices.

NITI Aayog:

• The National Institution for Transforming India, a policy think tank of the Government of India, providing directional and policy inputs.

BRICS Business Council:

• A forum established to promote business cooperation among the BRICS nations (Brazil, Russia, India, China, and South Africa).

Static GK Information:

Tabular Summary:

---

 

Science and Technology – Daily Current Affairs May 18 & 19

11. What is the primary goal of India’s upcoming Mangalyaan-2 mission?
A) To orbit the Moon
B) To land a rover and helicopter on Mars
C) To launch a manned mission to Mars
D) To study the Sun’s atmosphere
E) To explore Jupiter’s moons
Answer: B) To land a rover and helicopter on Mars

Event and Location:

• Event: Announcement of Mangalyaan-2 mission details
• Location: Space Application Centre, during National Technology Day

Mandates and Objectives:

• Mandate: To land a rover and helicopter on Mars, positioning India as the third nation to achieve this feat after the US and China.

Objectives:

• Successfully land a rover on Mars using an advanced sky crane.
• Deploy a helicopter to explore the Martian atmosphere.
• Ensure continuous communication with a relay satellite.

Important Terms Explained:

• Mangalyaan-2: The second Mars mission by the Indian Space Research Organisation (ISRO) aimed at landing a rover and helicopter on Mars.
• Launch Vehicle Mark-III (LVM3): India’s heaviest rocket, developed by ISRO, to be used for launching the Mangalyaan-2 mission.
• Sky Crane: A landing system inspired by NASA’s Perseverance rover, designed to lower the rover onto the Martian terrain.
• Supersonic Parachute: A crucial component for the rover’s descent through the Martian atmosphere, ensuring a safe landing.

History and Significance:

• First Asian Nation to Reach Mars Orbit: India achieved this milestone with its first Mars mission, Mangalyaan-1.
• Significance: The Mangalyaan-2 mission showcases India’s growing capabilities in space exploration, aiming to solidify its position as a top spacefaring nation.

Key Components of the Mission:

• Rover Landing System: The rover will use an advanced sky crane system for a precise touchdown on Mars.
• Martian Helicopter: Equipped with scientific instruments, including the “Martian Boundary Layer Explorer” (MarBLE), designed to study the Martian atmosphere.
• Relay Communication Satellite: Ensures continuous communication between Mars and Earth.

Static GK Information:

Tabular Summary:

---

Defence – Daily Current Affairs May 18 & 19

12. Which air defence system, partly assembled in India, is the Indian Army set to receive from Russia?
A) S-400
B) Igla-S
C) Barak 8
D) Akash
E) Patriot
Answer: B) Igla-S

Event and Location:

• Event: Delivery of Igla-S air defence systems to the Indian Army.
• Location: India, with partial assembly carried out locally.

Mandates and Objectives:

• Mandate: Enhance air defence capabilities of the Indian Army with the acquisition of Igla-S Very Short Range Air Defence (VSHORAD) systems.

Objectives:

• Fill a critical void in air defence against low-altitude aerial threats such as aircraft, helicopters, and drones.
• Strengthen self-sufficiency in defence manufacturing through local assembly.

Important Terms Explained:

• Igla-S VSHORAD System: A portable missile system designed to counter low-altitude aerial threats within close proximity.
• Technology Transfer Agreement: An arrangement where technology and know-how are transferred from one country or company to another, facilitating local assembly and production.
• Rosoboronexport: The Russian state agency responsible for the export of defence-related products and services.
• Adani Defence Systems and Technologies Limited (ADSTL): An Indian defence manufacturing company involved in the local assembly of the Igla-S system.

Static GK Information:

Tabular Summary:

Significance and Future Prospects:

• Enhanced Defence Readiness: The integration of Igla-S systems significantly boosts the Indian Army’s capability to counter low-altitude threats.
• Self-Sufficiency: Local assembly and technology transfer agreements contribute to India’s goal of indigenous defence production.
• Resolution of Payments Issue: The use of national currencies resolves past financial disputes, paving the way for smoother future collaborations between India and Russia.
• Ongoing Developments: Alongside the Igla-S, the acquisition of Israeli Hermes-900 UAVs further strengthens India’s defence arsenal.

---

 

National Affairs – Daily Current Affairs May 18 & 19

13. Which public sector companies in India are set to actively scout for critical mineral assets abroad as per the government’s recent announcement?
A) Coal India, NMDC, ONGC Videsh
B) Nalco, Hindustan Copper, MECL
C) Reliance Industries, Tata Steel, Adani Group
D) Indian Oil, Bharat Petroleum, Hindustan Petroleum
E) SAIL, GAIL, NTPC
Answer: A) Coal India, NMDC, ONGC Videsh

Event and Location:

• Event: Government’s announcement for public sector companies to scout for critical mineral assets abroad.
• Location: New Delhi, India

Mandates and Objectives:

• Mandate: Public sector companies Coal India, NMDC, and ONGC Videsh Ltd (OVL) are directed to actively look for critical mineral assets overseas.

Objectives:

• Secure access to essential minerals like lithium, copper, nickel, and cobalt.
• Enhance India’s resource base for clean energy technologies.
• Establish international collaborations and trade routes for mineral procurement.

Important Terms Explained:

• Critical Minerals: Minerals that are essential for the production of advanced technologies, especially clean energy solutions. Examples include lithium, copper, nickel, and cobalt.
• PSUs (Public Sector Undertakings): Government-owned corporations in India.
• ONGC Videsh Ltd (OVL): The overseas investment arm of the state-owned Oil and Natural Gas Corporation (ONGC).
• Khanij Bidesh India Ltd (KABIL): A joint venture of National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL), and Mineral Exploration and Consultancy Ltd (MECL), aimed at scouting for mineral assets abroad.

Static GK Information:

Tabular Summary:

---

14. During which event did India and the UK reaffirm their commitment to concluding a mutually beneficial Free Trade Agreement (FTA)?
A) G20 Summit
B) UK-India Business Summit
C) Annual UK-India Strategic Dialogue
D) Commonwealth Heads of Government Meeting
E) BRICS Summit
Answer: C) Annual UK-India Strategic Dialogue

Event and Location:

• Event: Annual UK-India Strategic Dialogue
• Location: London, United Kingdom

Mandates and Objectives:

• Mandate: To review and advance the 2030 Roadmap and reaffirm the commitment to a mutually beneficial Free Trade Agreement (FTA).

Objectives:

• Conclude a comprehensive FTA.
• Enhance cooperation in trade, defence, climate, and health sectors.
• Review progress on the 2030 Roadmap since its last review in January 2023.

Important Terms Explained:

• Free Trade Agreement (FTA): A treaty between two or more countries to reduce barriers to imports and exports among them.
• 2030 Roadmap: A strategic plan established in 2021 to enhance UK-India cooperation in various sectors including trade, defence, and climate.
• Migration and Mobility Partnership: An agreement to enhance opportunities for students and entrepreneurs between India and the UK.

History and Significance:

• First Established: The 2030 Roadmap was established in 2021 to foster UK-India cooperation.
• Milestones: Collaboration on the world’s first malaria vaccine, support for India’s G20 Presidency, and increased student and entrepreneur mobility.
• FTA Negotiations: 13 rounds of talks have been conducted, with the 14th round commencing in January 2024.

Key Discussions and Progress:

• 2030 Roadmap Review: Foreign Secretary Vinay Kwatra and Sir Philip Barton reviewed significant progress, including:
  • Collaboration on the world’s first malaria vaccine.
  • Support for India’s G20 Presidency.
  • Enhanced opportunities under the Migration and Mobility Partnership.
• Defence Cooperation: Discussions with UK Minister of State for Defence Procurement James Cartlidge on future defence initiatives.
• Milestones Celebrated: Emphasis on deepening cooperation across various sectors by Lord Tariq Ahmad, FCDO Minister for South Asia.
• FTA Negotiations: Covering 26 chapters including goods, services, investments, and intellectual property rights.
• India seeks greater access for skilled professionals.
• The UK aims to reduce import duties on products like scotch whisky and electric vehicles, and expand service opportunities in India.

Bilateral Trade Growth:

• Trade Increase: Bilateral trade reached USD 20.36 billion in 2022-23, up from USD 17.5 billion in 2021-22.
• Significance of FTA: Facilitates further economic growth and strengthens bilateral relationships.

Tabular Summary:

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs May 17