Daily Current Affairs May 02

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 02. 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 02 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 02

1. What is the primary focus of World Tuna Day, observed annually on May 2?
A) To celebrate the culinary uses of tuna
B) To promote international seafood trade
C) To raise awareness about sustainable fishing practices
D) To advocate for marine tourism
E) To focus on the expansion of tuna recipes
Answer: C) To raise awareness about sustainable fishing practices

Event and Location:

• Event: World Tuna Day, observed annually to focus on the conservation and sustainable management of tuna populations.
• Location: Globally recognized.

Mandates and Objectives:

• Conservation Awareness: The day aims to educate the public about the critical state of tuna populations and the need for sustainable fishing practices.
• UN Involvement: Established by the United Nations to ensure the long-term viability of tuna stocks and their ecological importance.

Important Terms Explained:

• Sustainable Fishing Practices: Techniques and regulations that aim to maintain fish populations and marine habitats at sustainable levels, ensuring that fishing activities do not cause overfishing or harm to the ecosystem.
• Parties to the Nauru Agreement (PNA): An agreement among eight Pacific Island countries that control the world’s largest sustainable tuna purse seine fishery, providing a framework for sustainable tuna fishing.

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Obituary – Daily Current Affairs May 02

2. Which Tamil playback singer, known for the song “Poongathave Thalthiravai” from the film “Nizhalgal”, recently passed away at the age of 72?
A) S. Janaki
B) K.S. Chithra
C) Uma Ramanan
D) Swarnalatha
E) Vani Jairam
Answer: C) Uma Ramanan

Event and Location:

• Event: The passing of renowned Tamil playback singer Uma Ramanan.
• Location: Chennai, India.

Mandates and Objectives:

• Contribution to Music: Uma Ramanan was celebrated for her extensive career in Tamil cinema as a playback singer and for her numerous live performances.
• Impact on Tamil Film Music: Her voice left a lasting impact through her famous songs, particularly those composed by Ilaiyaraaja.

Important Terms Explained:

• Playback Singer: A singer whose singing is pre-recorded for use in movies. Playback singers record songs for soundtracks, and actors or actresses lip-sync the songs for cameras; the actual singer does not appear on screen.
• Ilaiyaraaja: A renowned Indian composer and music director who is credited with integrating Indian folk music and classical music with electronic music in film scores.

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3. Which acclaimed series by Paul Auster, a postmodern take on detective fiction, is noted for examining existential themes?
A) The Locked Room
B) Moon Palace
C) Leviathan
D) The New York Trilogy
E) Timbuktu
Answer: D) The New York Trilogy

Event and Location:

• Event: The death of Paul Auster, renowned American novelist and filmmaker.
• Location: Brooklyn, New York, USA.

Mandates and Objectives:

• Career Achievements: Paul Auster was a prolific author known for writing more than 30 books, including “The New York Trilogy.” He was also a filmmaker and a translator of French literature.
• Literary Contributions: Auster was acclaimed for his innovative approach to narrative form and his exploration of complex existential themes through his works.

Important Terms Explained:

• The New York Trilogy: A series of novels by Paul Auster that include “City of Glass,” “Ghosts,” and “The Locked Room.” This series is known for its postmodern take on detective fiction, focusing on themes of identity and knowledge.
• Booker Prize: A prestigious literary award for which Auster was shortlisted, recognizing the best novel of the year written in English and published in the UK or Ireland.

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Banking and Finance – Daily Current Affairs May 02

4. Which company was granted authorization by the RBI to operate as an Online Payment Aggregator in 2024?
A) Paytm
B) Worldline ePayments India Private Limited
C) Razorpay
D) Google Pay
E) Amazon Pay
Answer: B) Worldline ePayments India Private Limited

Event and Location:

• Event: Worldline ePayments India received authorization from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator.
• Location: The announcement was made in Mumbai, India.

Mandates and Objectives:

• Authorization Details: This authorization allows Worldline ePayments India to facilitate digital payments for merchants across various sectors.
• RBI’s Role: The RBI’s approval under the Payment and Settlement Systems Act of 2007 signifies its trust in Worldline ePayments India’s compliance and its role in enhancing the regulated payments landscape in India.

Important Terms Explained:

• Online Payment Aggregator (PA): A service provider that integrates online payment services from different merchants under one umbrella, enabling them to accept a variety of payment methods from customers.
• Payment and Settlement Systems Act, 2007: An Act that provides for the regulation and supervision of payment systems in India, overseen by the RBI.

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5. What is the main objective of the partnership between NPCI International and the Bank of Namibia?
A) To introduce new banking regulations in Namibia
B) To develop a UPI-like instant payment system for Namibia
C) To enhance the tourism industry in Namibia
D) To export Indian financial products to Namibia
E) To increase the export of Namibian goods to India
Answer: B) To develop a UPI-like instant payment system for Namibia

Event and Location:

• Event: Signing of a pact between NPCI International Payments Limited (NIPL) and the Bank of Namibia (BoN) for developing an instant payment system.
• Location: New Delhi, India.

Mandates and Objectives:

• Financial Inclusion: The collaboration aims to modernize Namibia’s financial ecosystem, improve accessibility, and offer affordable digital financial services.
• Technology Transfer: Leveraging India’s UPI technology, the partnership is set to provide Namibia with the tools and insights to build a similar instant payment platform, enhancing financial access and reducing cash dependency.

Important Terms Explained:

• Unified Payment Interface (UPI): A system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing, and merchant payments under one umbrella.
• NPCI International Payments Limited (NIPL): The international arm of NPCI, aimed at exporting NPCI’s indigenously developed offerings and technological acumen globally.

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6. What led to the lifting of restrictions on Bajaj Finance’s ‘eCOM’ and ‘Insta EMI Card’ products by the RBI?
A) Introduction of new financial products
B) Improvement in the economic outlook
C) Remedial actions taken by the company
D) Change in RBI’s policy
E) Public demand for the products
Answer: C) Remedial actions taken by the company

Event and Location:

• Event: The Reserve Bank of India (RBI) lifting restrictions on Bajaj Finance’s ‘eCOM’ and ‘Insta EMI Card’ products.
• Location: Mumbai, India.

Mandates and Objectives:

• Regulatory Compliance: The RBI’s decision to lift the restrictions was based on the remedial actions undertaken by Bajaj Finance, demonstrating compliance with regulatory guidelines.
• Resumption of Business Operations: Following the lifting of restrictions, Bajaj Finance announced the resumption of sanction and disbursal of loans for the specified products, ensuring continued service to its customers.

Important Terms Explained:

• EMI Card: A financial product that allows consumers to convert their purchases into easy monthly installments at various merchant outlets and e-commerce platforms.
• NBFC (Non-Banking Financial Company): Financial institutions that provide banking services without meeting the legal definition of a bank.

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Awards – Daily Current Affairs May 02

7. For what contribution was Dr. Bina Modi honored by the Vice President of India?
A) Advancing women’s leadership
B) Outstanding Contribution to Corporate Social Responsibility
C) Support to marginalized farmer communities
D) Development of educational programs
E) Environmental conservation efforts
Answer: B) Outstanding Contribution to Corporate Social Responsibility

Event and Location:

• Event: Dr. Bina Modi was felicitated by the Vice President of India for her contributions to Corporate Social Responsibility.
• Location: The event took place at the inauguration of the new building for the Society of Indian Law Firms (SILF) in New Delhi, India.

Mandates and Objectives:

• Awards and Recognitions: Dr. Modi received recognition for her dedication to CSR, specifically in supporting vulnerable communities and promoting sustainable development.
• Support for SILF: Dr. Modi expressed her ongoing commitment to support SILF in their mission to be responsible towards citizens, aligning with their objectives.

Important Terms Explained:

• Corporate Social Responsibility (CSR): This refers to companies taking responsibility for their impact on society. It includes various initiatives that benefit social welfare, environmental sustainability, and community development.
• Society of Indian Law Firms (SILF): A professional body representing law firms in India. SILF aims to provide a collective voice for its members and to promote ethical practices in the legal profession.

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8. Which edtech startup, based in Puttur, recently won the ‘Elevate Karnataka 2023 Call 2’ competition?
A) EduTech Learners
B) Cherrilearn
C) LearnMax Pro
D) Karnataka EdInnovations
E) Digilearn Academy
Answer: B) Cherrilearn

Event and Location:

• Event: Cherrilearn winning the ‘Elevate Karnataka 2023 Call 2’ competition.
• Location: Mangaluru, India.

Mandates and Objectives:

• Educational Mission: Cherrilearn aims to empower students, especially in underserved communities across India, by providing interactive and gamified learning experiences.
• Funding and Impact: The award brings funding that will enable Cherrilearn to expand its reach and enhance its educational offerings.

Important Terms Explained:

• Elevate Karnataka 2023 Call 2: A competition that identifies and rewards innovative startups in Karnataka, providing them with funding to scale their operations and impact.
• Edtech: A field involving the use of technology to deliver education in more effective, inclusive, and scalable ways.

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Defence – Daily Current Affairs May 02

9. Which countries will co-chair the 7th Joint Defence Cooperation Committee (JDCC) meeting in New Delhi in 2024?
A) India and Malaysia
B) India and Indonesia
C) Indonesia and Australia
D) India and Singapore
E) India and Thailand
Answer: B) India and Indonesia

Event and Location:

• Event: The 7th Joint Defence Cooperation Committee (JDCC) meeting between India and Indonesia.
• Location: New Delhi, India.

Mandates and Objectives:

• Bilateral Relations: The meeting aims to discuss regional and global issues of mutual interest and strengthen the defence and strategic partnership between India and Indonesia.
• Scope of Cooperation: The discussions will cover areas such as military exchanges, capacity building, defence industry collaboration, and other bilateral defence activities.

Important Terms Explained:

• Comprehensive Strategic Partnership: A diplomatic relationship that includes broader cooperation across multiple areas, such as economic, military, scientific, and cultural sectors.
• JDCC: A platform established to enhance and coordinate defence cooperation activities between India and Indonesia.

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International Affairs – Daily Current Affairs May 02

10. What is the launch date and time of Pakistan’s first lunar mission, iCube-Q?
A) May 1, 12:50 pm
B) May 2, 12:00 pm
C) May 3, 12:50 pm
D) May 4, 11:30 am
E) May 5, 01:00 pm
Answer: C) May 3, 12:50 pm

Event and Location:

• Event: Pakistan’s maiden lunar mission, iCube-Q, is set to launch.
• Location: The launch will occur aboard China’s Chang’e 6 lunar probe.

Mandates and Objectives:

• Mission Goals: The iCube-Q satellite aims to land on the Moon’s far side, collect samples from the lunar surface, and return them to Earth for research.
• Collaboration: The satellite is developed by the Institute of Space Technology (IST) in collaboration with Shanghai University SJTU and Suparco, Pakistan’s national space agency.

Important Terms Explained:

• CubeSat Satellite: CubeSats are small, cube-shaped satellites typically used for space research. They are economical and are constructed from modular components that adhere to specific size constraints.
• Chang’e 6: This is part of China’s series of lunar missions aimed at exploring the Moon, specifically its far side.

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11. What emerged as a focal point during the discussions at the 11th Joint Trade Committee meeting between India and New Zealand?
A) Agricultural exports
B) Vehicle manufacturing
C) Services sector
D) Textile trade
E) Technology partnerships
Answer: C) Services sector

Event and Location:

• Event: The 11th Joint Trade Committee meeting between India and New Zealand.
• Location: New Delhi, India.

Mandates and Objectives:

• Focus on Service Sector: The services sector was highlighted as a central area of focus during the discussions, indicating a significant interest in enhancing business-to-business and people-to-people contacts within this sector.
• Bilateral Cooperation: The meeting explored strengthening bilateral trade and economic relations, addressing market access issues, and fostering collaboration in various sectors like agriculture, food processing, and pharmaceuticals.

Important Terms Explained:

• Services Sector: Encompasses a broad category of economic activities that do not result in the production of goods. It includes areas such as hospitality, education, healthcare, and IT services.
• Joint Trade Committee: A bilateral platform where representatives of two countries meet to discuss and enhance trade relations, solve market access issues, and promote economic cooperation.

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National Affairs – Daily Current Affairs May 02

12. What is the main purpose of the Constitution Park inaugurated in Pune?
A) To serve as a tribute to the Constitution of India
B) To provide a recreational area for the citizens
C) To serve as a training center for the Indian Army
D) To promote private investments in public projects
E) To showcase military achievements
Answer: A) To serve as a tribute to the Constitution of India

Event and Location:

• Event: Inauguration of India’s first Constitution Park.
• Location: Pune, India.

Mandates and Objectives:

• Purpose of the Park: The Constitution Park is designed to enlighten citizens about their civic responsibilities and to serve as a tribute to the Constitution of India, emphasizing its significance in granting rights and outlining duties.
• Collaboration: The project is a collaborative effort between the Indian Army and the Punit Balan Group.

Important Terms Explained:

• Constitution of India: The supreme law of India, laying down the framework demarcating fundamental political principles, establishes the structure, procedures, powers, and duties of government institutions, and sets out fundamental rights, directive principles, and the duties of citizens.
• Fundamental Rights and Duties: Rights are the basic human rights guaranteed to all citizens irrespective of race, place of birth, religion, caste, or gender. Duties are the moral obligations of all citizens of India, which the Constitution expects its citizens to perform.

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13. Which city in India will host the 46th Antarctic Treaty Consultative Meeting (ATCM) and the 26th Meeting of the Committee for Environmental Protection (CEP) in 2024?
A) New Delhi
B) Mumbai
C) Kochi
D) Bengaluru
E) Chennai
Answer: C) Kochi

Event and Location:

• Event: The 46th Antarctic Treaty Consultative Meeting (ATCM) and the 26th Meeting of the Committee for Environmental Protection (CEP).
• Location: Kochi, Kerala, India.

Mandates and Objectives:

• Purpose of Meetings: These meetings aim to address environmental, scientific, and governance issues concerning Antarctica. The focus is on safeguarding Antarctica’s ecosystem, promoting scientific research, and discussing sustainable management of the region.
• India’s Role: As a host, India underscores its commitment to environmental conservation and scientific collaboration in Antarctica.

Important Terms Explained:

• Antarctic Treaty System: An international treaty that establishes Antarctica as a zone for peaceful purposes and scientific research, promoting international cooperation.
• Committee for Environmental Protection (CEP): An advisory body that offers guidance on environmental matters to the parties of the Antarctic Treaty.

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14. What is the primary purpose of the Scientific Excursion conducted by CSIR-AMPRI and KAMP?
A) To promote local tourism in Bhopal
B) To conduct competitive exams for students
C) To provide practical scientific learning experiences
D) To showcase technological advancements in other countries
E) To increase enrollment in the participating schools
Answer: C) To provide practical scientific learning experiences

Event and Location:

• Event: Scientific Excursion for students organized by the Council of Scientific & Industrial Research (CSIR) – Advanced Materials and Processes Research Institute (AMPRI) in collaboration with the Knowledge & Awareness Mapping Platform (KAMP).
• Location: Bhopal, Madhya Pradesh, India.

Mandates and Objectives:

• Educational Outreach: The excursion was part of the CSIR Jigyasa and Viksit Bharat Program aimed at fostering scientific curiosity and knowledge among students.
• Interactive Learning: Students had the opportunity to engage in hands-on activities in various scientific labs such as the 3D printing Lab and Raman Spectrometer lab, enhancing their understanding of advanced scientific concepts and technologies.

Important Terms Explained:

• CSIR Jigyasa Program: An initiative by CSIR to connect school students and scientists so as to extend student’s classroom learning with well-planned research laboratory-based learning.
• Viksit Bharat Program: A program aiming at the development of India through scientific and technological interventions.

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15. When is the prototype of the first privately-manufactured Vande Bharat sleeper train expected to be ready?
A) May 2025
B) June 2025
C) June 2024
D) December 2024
E) January 2025
Answer: C) June 2024

Event and Location:

• Event: The launch of the prototype for the Vande Bharat sleeper version by Titagarh Rail Systems Ltd. (TRSL).
• Location: India.

Mandates and Objectives:

• Innovation in Rail Transport: The Vande Bharat sleeper aims to enhance overnight train travel in India, combining high-speed capability with comfort better than existing trains like the Rajdhani Express.
• Private Sector Involvement: This marks the first instance of a Vande Bharat train being manufactured by a private Indian firm, indicating a significant step in public-private partnership in rail infrastructure.

Important Terms Explained:

• Vande Bharat Trains: A series of indigenously designed semi high-speed, self-propelled train sets by Indian Railways.
• Sleeper Version: This variant of the Vande Bharat trains will be equipped with sleeping berths, designed for long-distance overnight travel.

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• Integral Coach Factory (ICF), Chennai: Currently the primary manufacturer of Vande Bharat trains. Located in Chennai, it is one of the oldest and largest coach manufacturing units of the Indian Railways.
• Titagarh Rail Systems Ltd. (TRSL): A Kolkata-based company set to launch the prototype of the sleeper version of the Vande Bharat trains.

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16. What is the primary goal of the World Castor Sustainability Forum (WCSF) launched by India?
A) To increase global production of castorseed
B) To provide a sustainable and traceable supply chain of castor
C) To reduce the cost of castor oil production
D) To monopolize the global castor oil market
E) To solely focus on increasing India’s castorseed yield
Answer: B) To provide a sustainable and traceable supply chain of castor

Event and Location:

• Event: Launch of the World Castor Sustainability Forum (WCSF) by India.
• Location: India.

Mandates and Objectives:

• Sustainability Focus: The WCSF is aimed at enhancing the sustainability and traceability of the castor supply chain, ensuring that it meets global demand responsibly.
• Supporting Global Demand: With India meeting over 90% of the global demand for castor oil, the initiative is crucial for maintaining the supply chain’s integrity and sustainability.

Important Terms Explained:

• Castorseed: The seed from which castor oil is extracted, widely used in various industries including manufacturing, pharmaceuticals, and cosmetics.
• Sustainability in Supply Chains: Involves managing environmental, social, and economic impacts, and the encouragement of good governance practices, throughout the lifecycles of goods and services.

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