Daily Current Affairs May 04 & 05

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 04 & 05. 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 04 & 05 | Daily Current Affairs 2024

 

Sports – Daily Current Affairs May 04 & 05

1. What enabled Real Madrid to clinch their 36th Spanish league title?
A) Barcelona’s win
B) Cadiz’s victory
C) Barcelona’s loss at Girona
D) Madrid’s draw
E) Girona’s loss
Answer: C) Barcelona’s loss at Girona

Event and Location:

• Event: Real Madrid winning its 36th Spanish league title
• Location: Madrid, Spain

Mandates and Objectives:

• Objective: Real Madrid aimed to secure the Spanish league title by outperforming its rivals in the league standings.
• Outcome: The combination of Real Madrid’s victory over Cadiz and Barcelona’s loss to Girona ensured Madrid clinched the league title.

Important Terms Explained:

• La Liga: The top professional football division of the Spanish football league system.
• Champions League: A yearly football competition organized by the Union of European Football Associations (UEFA), involving top-division European clubs.

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Ranking – Daily Current Affairs May 04 & 05

2. What is India’s rank in the 2024 World Press Freedom Index as reported by Reporters Without Borders?
A) 159
B) 152
C) 150
D) 161
E) 180
Answer: A) 159

Event and Location:

• Event: Release of the 2024 World Press Freedom Index by Reporters Without Borders (RSF).

Mandates and Objectives:

• Objective: The World Press Freedom Index assesses the state of journalism in various countries, measuring factors like media independence, self-censorship, the legislative framework, transparency, and the safety of journalists.

Important Terms Explained:

• Reporters Without Borders (RSF): An international non-profit organization that aims to defend and promote freedom of information and press freedom worldwide.
• World Press Freedom Index: An annual ranking of countries compiled by RSF, evaluating the level of freedom available to journalists.

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Banking and Finance – Daily Current Affairs May 04 & 05

3. Which neobanking startup has recently secured a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI)?
A) Jupiter
B) Groww
C) Fi
D) One Card
E) Uni Cards
Answer: C) Fi

Event and Location:

• Event: Neobanking startup Fi has obtained a non-banking finance company (NBFC) licence from the Reserve Bank of India.
• Location: India

Mandates and Objectives:

• Purpose of the Licence: The NBFC licence allows Fi to provide loans directly from its own books, enabling the startup to operate as a lender rather than merely an intermediary.
• This expands Fi’s operational capabilities in the financial services sector.

Important Terms Explained:

• NBFC (Non-Banking Finance Company): A company registered under the Companies Act that is engaged in the business of loans and advances, acquisition of stocks, equities, debt, etc., issued by the government or local authority, but does not include any institution whose principal business is that of agriculture, industrial activity or sale/purchase/construction of immovable property.
• Neobanking: A type of digital banking without any branches, operating exclusively online without traditional physical branch networks, often focusing on providing user-friendly banking solutions.

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4. What is the primary benefit offered by the YES Bank ANQ Pi Credit Card?
A) Rewards on dining and travel
B) Cashback on international purchases
C) Credit on UPI for domestic transactions
D) International lounge access
E) No tax collected at source for international payments
Answer: C) Credit on UPI for domestic transactions

Event and Location:

• Event: Launch of YES Bank ANQ Pi and Phi credit cards.
• Location: India

Mandates and Objectives:

• Objective: To offer innovative financial products that bridge the gap between traditional banking and the fintech industry, catering to evolving consumer needs. The Pi card focuses on providing credit for UPI transactions domestically, while the Phi card extends its utility to both domestic and international markets with additional benefits.

Important Terms Explained:

• UPI (Unified Payments Interface): A system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing, and merchant payments into one platform.
• EMI (Equated Monthly Installment): A fixed payment amount made by a borrower to a lender at a specified date each calendar month.

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5. What is the primary focus of HDFC Life’s ‘No Jhanjhat Life Insurance Fatafat’ campaign?
A) To increase awareness and usage of paper-based insurance applications
B) To highlight the lengthy process of traditional life insurance applications
C) To offer a seamless and swift online life insurance purchasing experience
D) To promote in-person consultation for life insurance
E) To reduce the digital penetration of life insurance products
Answer: C) To offer a seamless and swift online life insurance purchasing experience

Event and Location:

• Event: Launch of the ‘No Jhanjhat Life Insurance Fatafat’ campaign by HDFC Life.
• Location: India

Mandates and Objectives:

• Objective: To simplify and speed up the life insurance purchasing process through an online platform, making it more accessible and convenient for customers in today’s fast-paced world.

Important Terms Explained:

• Jhanjhat: A Hindi term meaning hassle or complication. In this context, it refers to the complexities traditionally associated with purchasing life insurance.
• Claim Settlement Ratio: A key metric that indicates the percentage of insurance claims settled by the insurer out of the total claims received. For HDFC Life, it’s 99.7%.

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Appointments – Daily Current Affairs May 04 & 05

6. Who has been appointed as the Secretary of the National Jute Board in Kolkata?
A) Vishal Subharwal
B) Shashi Bhushan Singh
C) Vibha Padalkar
D) Anil Singh
E) Sujith Narayanan
Answer: B) Shashi Bhushan Singh

Event and Location:

• Event: Appointment of Shashi Bhushan Singh as the Secretary of the National Jute Board.
• Location: Kolkata, India

Mandates and Objectives:

• Objective: To bring experienced leadership to the National Jute Board, which operates under the Ministry of Textiles. The appointment is aimed at leveraging Singh’s expertise from his previous roles within the Indian Railways to enhance the functioning and impact of the Jute Board.

Important Terms Explained:

• IRTS (Indian Railway Traffic Service): A cadre of the Civil Services of India, managing the transportation and commercial wings of the Indian Railways.
• DoPT (Department of Personnel and Training): A department of the Government of India that handles all matters related to personnel, training, and administrative reforms.

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7. Who has been re-appointed as the Part Time Chairman of HDFC Bank for the period from May 05, 2024, to May 04, 2027?
A) Aditya Puri
B) Sashidhar Jagdishan
C) Atanu Chakraborty
D) Kaizad Bharucha
E) None of the above
Answer: C) Atanu Chakraborty

Event and Location:

• Event: Re-appointment of Atanu Chakraborty as Part Time Chairman of HDFC Bank.
• Location: HDFC Bank, India.

Mandates and Objectives:

• Duration: The tenure of Atanu Chakraborty is set for three years, starting from May 05, 2024, to May 04, 2027.
• Approval: The re-appointment received approval from:
• Reserve Bank of India (RBI) for official endorsement.
• Board of Directors of HDFC Bank for internal consent.
• Shareholder Approval: A postal ballot notice has been issued to seek the approval of shareholders for this re-appointment.

Important Terms Explained:

• Part Time Chairman: A role in which the individual serves as the chairman without being involved in the daily operations of the organization full-time.
• Independent Director: A director who does not have any material or pecuniary relationship with the company or its associated persons, except for the director’s fee and holds no other post in the company.

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8. Who has been appointed as the President of the Goods & Services Tax Appellate Tribunal (GSTAT)?
A) Justice Rohinton Fali Nariman
B) Justice Sanjaya Kumar Mishra
C) Justice Deepak Gupta
D) Justice Arun Mishra
E) None of the above
Answer: B) Justice Sanjaya Kumar Mishra

Event and Location:

• Event: Appointment of Justice Sanjaya Kumar Mishra as the President of GSTAT.
• Location: India.

Mandates and Objectives:

• Purpose of GSTAT: To provide a specialized, efficient, and timely resolution mechanism for disputes related to Goods & Services Tax (GST), thereby reducing the burden on High Courts.

Appointment Details:

• Appointee: Retired Justice Sanjaya Kumar Mishra.
• Term: 4 years, or until attaining the age of 70 years, whichever is earlier.
• Salary: ₹2.50 lakh per month.
• Approving Authority: Appointment Committee of the Cabinet, following recommendations from the Search-cum-Selection Committee.
• Operational Framework: Establishment of 31 GSTAT benches across India, including a Principal Bench in Delhi, with varying numbers in different states to handle state-specific issues.

Important Terms Explained:

• Goods & Services Tax Appellate Tribunal (GSTAT): A tribunal established to handle appeals against decisions related to GST, aiming to streamline the process and provide expert resolutions.
• Search-cum-Selection Committee (SCSC): A committee tasked with identifying and recommending candidates for various governmental positions.

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Awards – Daily Current Affairs May 04 & 05

9. What did Dr. Purnima Devi Barman primarily focus on conserving that earned her the 2024 Whitley Gold Award?
A) Bengal tiger
B) Greater Adjutant Stork
C) Marine life
D) Amazon rainforest
E) African elephant
Answer: B) Greater Adjutant Stork

Event and Location:

• Event: Receipt of the Whitley Gold Award by Dr. Purnima Devi Barman.
• Location: Royal Geographical Society awards ceremony, London, UK.

Mandates and Objectives:

• Objective: The award celebrates Dr. Barman’s exceptional work in conserving the Greater Adjutant Stork and its natural wetland habitat in Assam, utilizing community-driven conservation strategies.

Important Terms Explained:

• Greater Adjutant Stork: An endangered species known locally as “Hargila” in Assam, notable for its large size and ecological role in nutrient recycling within wetland ecosystems.

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10. Which group of journalists has been awarded the 2024 UNESCO/Guillermo Cano World Press Freedom Prize?
A) Journalists covering the conflict in Ukraine
B) Journalists from El Espectador, Colombia
C) Palestinian journalists covering Gaza
D) Independent media in Afghanistan
E) Media workers in Haiti
Answer: C) Palestinian journalists covering Gaza

Event and Location:

• Event: Awarding of the 2024 UNESCO/Guillermo Cano World Press Freedom Prize to Palestinian journalists covering Gaza.
• Location: The award ceremony will take place in Santiago, Chile, during the World Press Freedom Conference.

Mandates and Objectives:

• Purpose of the Prize: To honor journalists who have made an outstanding contribution to the defense and/or promotion of press freedom, especially under dangerous circumstances.
• Recipient: Palestinian journalists who are reporting from Gaza amid ongoing conflict.
• Recognition: The prize acknowledges their courage and commitment to freedom of expression in challenging conditions.

Award Details:

• Ceremony Date: 2 May
• Venue: World Press Freedom Conference, Santiago, Chile.

Important Terms Explained:

• UNESCO/Guillermo Cano World Press Freedom Prize: Established in 1997, this annual prize is awarded to journalists who have shown exceptional courage in the face of danger to defend and promote press freedom.
• Guillermo Cano Isaza: A Colombian journalist whose assassination in 1986 sparked the creation of the prize named in his honor.

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Defence – Daily Current Affairs May 04 & 05

11. What is the main function of the NGOPVs constructed by GSL and GRSE?
A) Naval training
B) Anti-piracy
C) Naval cooperation
D) Coastal defense
E) Ceremonial use
Answer: D) Coastal defense

Event and Location:

• Event: Keel laying ceremony for the first Next Generation Offshore Patrol Vessel (NGOPV)
• Location: Goa Shipyard Ltd (GSL), Goa

Mandates and Objectives:

• Objective of NGOPVs: To conduct missions such as Anti-Piracy, Coastal Defense & Surveillance, Search & Rescue, and Protection of Offshore Assets, enhancing the Indian Navy’s capabilities to protect national security and economic interests.

Important Terms Explained:

• NGOPV (Next Generation Offshore Patrol Vessel): A class of advanced naval ships designed for versatile maritime roles including surveillance and protection of a nation’s waters.
• Aatmanirbhar Bharat: A government initiative aimed at promoting self-reliance through increased domestic production.
• Make in India: A government initiative aimed at boosting India’s manufacturing sector and attracting foreign investment.

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International Affairs – Daily Current Affairs May 04 & 05

12. What is the primary purpose of the Memorandum of Understanding (MoU) signed between the apex auditors of India and Nepal?
A) To enhance military cooperation between India and Nepal
B) To facilitate a cultural exchange program
C) To establish a platform for capacity development and knowledge exchange in auditing
D) To increase trade agreements between the two countries
E) To promote tourism between India and Nepal
Answer: C) To establish a platform for capacity development and knowledge exchange in auditing

Event and Location:

• Event: Signing of the Memorandum of Understanding (MoU) between the apex auditors of India and Nepal.
• Location: New Delhi, India

Mandates and Objectives:

• Objective: The MoU aims to enhance collaboration and exchange of expertise in the auditing field between the Supreme Audit Institutions (SAIs) of India and Nepal. This includes capacity development and knowledge exchange among auditing professionals through collaboration in training programs and mutual assistance in conducting audits.

Important Terms Explained:

• SAIs (Supreme Audit Institutions): National agencies responsible for auditing government revenue and spending, ensuring transparency and accountability in the public sector.
• CAG (Comptroller and Auditor General of India): The authority in India responsible for auditing all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government.

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National Affairs – Daily Current Affairs May 04 & 05

13. Which railway station in Amethi has been renamed as Tapeshwarnath Dham?
A) Fursatganj Railway Station
B) Kasimpur Halt
C) Jais City
D) Nihalgarh
E) Misrauli
Answer: A) Fursatganj Railway Station

Event and Location:

• Event: The renaming of eight railway stations in Amethi, Uttar Pradesh.
• Location: Amethi, Uttar Pradesh, India

Mandates and Objectives:

• Objective: To reflect local cultural and religious significance through the names of railway stations, enhancing regional identity and pride.

Important Terms Explained:

• NOC (No-Objection Certificate): A formal permission granted by the Union Home Ministry of India, required for renaming public infrastructure like railway stations, to ensure no geographical or administrative conflicts arise.
• Geographical Survey of India (GSI): An Indian government agency responsible for conducting geological surveys and studies of India, also involved in renaming processes to provide relevant geographical data.

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14. What is the primary aim of the ‘Nakshatra Sabha’ astro-tourism initiative launched by Uttarakhand Tourism?
A) To promote the traditional dance and music of Uttarakhand
B) To establish Uttarakhand as a leading medical tourism destination
C) To develop infrastructure in remote areas of Uttarakhand
D) To preserve night skies and boost local economies through astro-tourism
E) To increase agricultural productivity in Uttarakhand
Answer: D) To preserve night skies and boost local economies through astro-tourism

Event and Location:

• Event: Launch of ‘Nakshatra Sabha’, India’s first astro-tourism campaign by Uttarakhand Tourism.
• Location: Starting in Mussoorie and expanding to Uttarkashi, Pithoragarh, Nainital, and Chamoli in Uttarakhand, India.

Mandates and Objectives:

• Objective: To offer a comprehensive astro-tourism experience that includes stargazing, astrophotography, and camping under the stars.

Goals:

• Preservation of Night Skies: Implementing policies to maintain the natural darkness and reduce light pollution.
• Economic Development: Boosting local economies through increased tourist activities and providing training opportunities for local residents.
• Education and Engagement: Organizing seminars and webinars to educate and engage tourists and locals alike in astronomy and dark sky conservation.

Important Terms Explained:

• Astro-tourism: Tourism dedicated to stargazing and other astronomical activities, usually in locations with clear dark skies.
• Dark Sky Preservation: Efforts to minimize light pollution to protect the visibility of the night sky and support nocturnal ecosystems.

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15. What is the primary purpose of the ‘Run for Sun’ Marathon organized by the Ministry of New and Renewable Energy in New Delhi?
A) To promote solar energy among school children
B) To celebrate International Sun Day with artistic expressions
C) To raise awareness about the role of solar energy in combating climate change
D) To educate citizens on the significance of solar energy through Solar Stops
E) To establish a new athletic competition in India
Answer: C) To raise awareness about the role of solar energy in combating climate change

Event and Location:

• Event: ‘Run for Sun’ Marathon
• Location: Jawaharlal Nehru Stadium, New Delhi

Mandates and Objectives:

• The Marathon is organized by the Ministry of New and Renewable Energy (MNRE) as part of International Sun Day celebrations.
• Primary Objective: To raise awareness about the importance of solar energy in mitigating climate change and promoting a cleaner, healthier future.

Important Terms Explained:

• Solar Energy: A form of energy obtained from sunlight. Solar power is harnessed using various technologies such as solar panels, which convert sunlight into electricity.
• MNRE (Ministry of New and Renewable Energy): An Indian government ministry responsible for all forms of renewable energy policy, planning, and development.

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16. What is the primary purpose of REC Limited setting up a subsidiary in GIFT City, Gujarat?
A) To explore new investment opportunities
B) To engage in international lending activities
C) To expand its infrastructure capabilities
D) To offer financial services
E) To diversify its financial portfolio
Answer: B) To engage in international lending activities

Event and Location:

• Event: REC Limited receiving approval to set up a subsidiary in GIFT City
• Location: Gujarat International Finance Tec-City (GIFT), Gandhinagar, Gujarat

Mandates and Objectives:

• Objective: REC Limited aims to establish a presence in GIFT City to engage in international lending and other financial services, capitalizing on the conducive environment for such activities provided by GIFT City.

Important Terms Explained:

• REC Limited: A Maharatna Central Public Sector Enterprise under the Ministry of Power, primarily functioning as a leading Non-Banking Financial Company (NBFC) in India.
• GIFT City: Stands for Gujarat International Finance Tec-City, a planned business district in Gujarat, India, aimed at providing high-quality physical infrastructure so that finance and tech firms can relocate their operations from cities such as Mumbai, Bangalore, Gurgaon where infrastructure is either inadequate or very expensive.
• Maharatna Status: A recognition given by the government of India to central public sector enterprises (CPSEs) to empower them to expand their operations and emerge as global giants.

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Over All Review

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