Daily Current Affairs May 08

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 08. 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 08 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 08

1. What recent action was taken by the Union Health Secretary to promote the prevention of Thalassemia?
A) Launching a new vaccine for Thalassemia
B) Inauguration of a Thalassemia treatment facility
C) Launching an awareness video about Thalassemia
D) Announcement of a national holiday for Thalassemia awareness
E) Introduction of a new pharmaceutical drug for Thalassemia treatment
Answer: C) Launching an awareness video about Thalassemia

Event and Location:

• Event: The Union Health Secretary, Shri Apurva Chandra, highlighted the importance of timely detection and prevention of Thalassemia on International Thalassemia Day.
• Location: The event was held under the auspices of the Ministry of Health and Family Welfare, as reported by PIB Delhi.

Mandates and Objectives:

• Objective: To enhance national awareness and prevention of Thalassemia.
• Actions: Launch of an awareness video in collaboration with Indian Association of Pediatrics and Thalassemics India and advocating for compulsory Thalassemia testing to be integrated into the National Health Mission’s Reproductive and Child Health (RCH) programs.

Important Terms Explained:

• Thalassemia: An inherited blood disorder characterized by reduced hemoglobin production, which can lead to anemia.
• Reproductive and Child Health (RCH) programs: These are part of the National Health Mission aimed at improving reproductive and child health through various interventions, including disease screening and prevention.

Static GK Information:

Tabular Summary:

---

Banking and Finance – Daily Current Affairs May 08

2. What new regulation did SEBI enforce to manage employee misconduct?
A) Performance reviews
B) Salary increase
C) Loss recovery
D) Ethics training
E) Staff cuts
Answer: C) Loss recovery

Event and Location:

• Event: SEBI implementing stricter norms to tackle misconduct and corrupt practices among its employees.
• Location: The announcement was made in New Delhi.

Mandates and Objectives:

• Objective: To deter misconduct and ensure accountability among SEBI employees by implementing stricter rules.
• Actions: Introduction of rules allowing for the recovery of pecuniary losses from employees’ compensation, and withholding of gratuity during the pendency of proceedings against them.

Important Terms Explained:

• Pecuniary Loss: Financial loss that the SEBI can recover from employees responsible for misconduct.
• Gratuity: A sum of money paid to an employee at the end of a period of employment, which can now be withheld if there are ongoing proceedings regarding misconduct.

Static GK Information:

Tabular Summary:

---

3. What action did the RBI recently take regarding Bank of Baroda’s ‘Bob World’ mobile app?
A) Suspended onboarding
B) Lifted restrictions
C) Imposed fines
D) Decreased funding
E) Enhanced security
Answer: B) Lifted restrictions

Event and Location:

• Event: The lifting of restrictions on Bank of Baroda’s ‘Bob World’ mobile app by the Reserve Bank of India (RBI).
• Location: The announcement was made in Mumbai.

Mandates and Objectives:

• Objective: To allow Bank of Baroda to resume the onboarding of new customers through its mobile application, following the bank’s implementation of necessary corrective actions.
• Actions: RBI’s decision came after Bank of Baroda addressed supervisory concerns raised in October 2023.

Important Terms Explained:

• Onboarding: The process by which new customers are registered and begin using banking services.
• Corrective Actions: Measures taken to rectify issues identified during regulatory or supervisory evaluations.

Static GK Information:

Tabular Summary:

---

4. What is the key feature of Canara HSBC Life Insurance’s new product, Promise4Growth ULIP?
A) Fixed deposit rates
B) High-interest savings accounts
C) Investment flexibility
D) Real estate investment
E) Retirement pension plans
Answer: C) Investment flexibility

Event and Location:

• Event: Launch of the new Unit Linked Insurance Plan (ULIP), Promise4Growth, by Canara HSBC Life Insurance.
• Location: The announcement and launch occurred in Hyderabad.

Mandates and Objectives:

• Objective: To offer a financial product that combines investment opportunities with insurance coverage, promoting financial prosperity and security.
• Actions: Introduction of Promise4Growth ULIP, featuring a new fund option and providing customers with flexibility in investment choices.

Important Terms Explained:

• Unit Linked Insurance Plan (ULIP): A financial product that combines investment and insurance. It allows policyholders to invest in various funds provided by the insurance company while providing life cover.
• Midcap Momentum Growth Index Fund: A fund option within the ULIP that focuses on investing in mid-sized companies with potential for rapid growth.

Static GK Information:

Tabular Summary:

---

Science and Technology – Daily Current Affairs May 08

5. What certification has Infosys recently achieved that emphasizes their commitment to ethical AI practices?
A) ISO 9001:2015
B) ISO 27001
C) ISO 14001
D) ISO 42001:2023
E) ISO 22000
Answer: D) ISO 42001:2023

Event and Location:

• Event: Infosys has been certified with ISO 42001:2023 for its Artificial Intelligence Management System (AIMS).
• Location: The announcement was made in Bengaluru, India.

Mandates and Objectives:

• Objective: To adhere to and promote responsible AI practices through the implementation of an effective AI Management System.
• Actions: Infosys integrated the ISO 42001:2023 standards into its Topaz Responsible AI Suite, which is designed to enhance accountability and mitigate risks in AI initiatives.

Important Terms Explained:

• ISO 42001:2023: The world’s first international standard for AI management systems, focusing on the systematic approach to managing AI, including risk mitigation and ethical practices.
• Artificial Intelligence Management System (AIMS): A framework used by organizations to manage the various aspects of AI governance, risk management, and compliance.

Static GK Information:

Tabular Summary:

---

6. What significant development has Setu introduced for the BFSI sector in India?
A) A new cryptocurrency
B) An advanced blockchain platform
C) A domain-specific Large Language Model (LLM)
D) A novel digital payment system
E) An updated regulatory framework
Answer: C) A domain-specific Large Language Model (LLM)

Event and Location:

• Event: Unveiling of Sesame, India’s first Large Language Model (LLM) specifically designed for the BFSI sector.
• Location: The launch occurred at the Adbhut India event, organized by People+ai.

Mandates and Objectives:

• Objective: To democratize financial services in India using AI technologies and enhance various BFSI operations such as credit underwriting, fraud detection, and personal finance advisory.
• Actions: Collaboration between Setu and Sarvam AI to develop a domain-specific LLM tailored to the needs and data of India’s BFSI sector.

Important Terms Explained:

• Large Language Model (LLM): A type of AI that processes and generates human-like text based on the data it has been trained on. It’s used to understand and produce language in a way that is relevant to specific domains.
• BFSI Sector: Refers to the Banking, Financial Services, and Insurance sector, encompassing firms and institutions that offer financial products and services.

Static GK Information:

Tabular Summary:

---

 

National Affairs – Daily Current Affairs May 08

7. What significant contribution did the National Archives of India recently make to preserving historical documents?
A) Digitizing the Constitution of India
B) Acquiring the private paper collection of Late Shri Rafi Ahmad Kidwai
C) Publishing a series of books on Indian freedom fighters
D) Restoring ancient manuscripts from the Mughal era
E) Launching an online portal for public access to archival records
Answer: B) Acquiring the private paper collection of Late Shri Rafi Ahmad Kidwai

Event and Location:

• Event: The acquisition of the private paper collection of Late Shri Rafi Ahmad Kidwai by the National Archives of India (NAI).
• Location: The event took place at the National Archives of India, as reported by PIB Delhi.

Mandates and Objectives:

• Objective: To preserve and maintain historical documents for research and public access.
• Actions: The acquisition includes original correspondences of Shri Rafi Ahmad Kidwai with notable Indian leaders, enhancing the archival collection of important Indian historical documents.

Important Terms Explained:

• National Archives of India (NAI): A premier archival institution responsible for preserving non-current records of the Government of India and facilitating their access for research and public use.
• Public Record Act 1993: Legislation that provides the framework for managing public records, ensuring their preservation, and regulating access.

Static GK Information:

Tabular Summary:

---

8. Which entities recently collaborated through a Memorandum of Understanding to enhance indigenous shipbuilding capabilities in India?
A) Indian Coast Guard and Tata Steel
B) Indian Navy and Reliance Industries
C) Indian Coast Guard and Jindal Steel & Power
D) Indian Navy and Larsen & Toubro
E) Indian Coast Guard and Mahindra Defence
Answer: C) Indian Coast Guard and Jindal Steel & Power

Event and Location:

• Event: Signing of a Memorandum of Understanding (MoU) between the Indian Coast Guard (ICG) and Jindal Steel & Power (JSP).
• Location: The event took place in New Delhi.

Mandates and Objectives:

• Objective: To enhance the indigenous content in shipbuilding by using domestically produced marine grade steel.
• Actions: The MoU focuses on indigenisation, specifying quality, grades, dimensions, and designated steel plants to assure timely supply of marine-grade steel for the Indian Coast Guard’s shipbuilding needs.

Important Terms Explained:

• Marine Grade Steel: A type of steel that is especially resistant to corrosion in maritime environments, making it ideal for shipbuilding.
• Indigenisation: The process of increasing the use of domestically produced materials and technologies in manufacturing to reduce dependence on imports.

Static GK Information:

Tabular Summary:

---

9. What is the main objective of the MEDITECH STACKATHON 2024 launched in New Delhi?
A) To increase medical device imports
B) To analyze and improve MedTech value chains
C) To promote medical tourism
D) To focus on pharmaceutical sales
E) To decrease the growth rate of the MedTech industry
Answer: B) To analyze and improve MedTech value chains

Event and Location:

• Event: Launch of the MEDITECH STACKATHON 2024.
• Location: The event took place in New Delhi.

Mandates and Objectives:

• Objective: To catalyze transformative change in India’s MedTech sector through comprehensive value chain analysis of select medical devices.
• Actions: The STACKATHON aims to address challenges such as import dependence, foster domestic manufacturing, and position India as a global leader in medical technology.

Important Terms Explained:

• Value Chain Mapping: A strategic analysis to identify the key activities within the industry that create value and a competitive advantage.
• MedTech Industry: Refers to the medical technology sector that includes medical devices and equipment.

Static GK Information:

Tabular Summary:

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs May 07