Daily Current Affairs May 10

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 10. 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 10 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 10

1. Which of the following is a key goal of celebrating the International Day of Argania?
A) To promote Morocco as a tourist destination
B) To emphasize the historical significance of the Argan tree
C) To increase awareness about the benefits and challenges of the Argan tree
D) To boost the global trade of Argan oil
E) To create new Argan tree species
Answer: C) To increase awareness about the benefits and challenges of the Argan tree

Event and Location:

• Event: International Day of Argania
• Location: Worldwide, with a focus on Morocco

Mandates and Objectives:

• The International Day of Argania aims to increase awareness about the Argan tree, emphasizing its ecological and economic significance.
• The celebration helps highlight the challenges faced by these ancient trees and promotes efforts to preserve them.

Important Terms Explained:

• Argan Tree: A species native to Morocco, important for its ecological role and economic value through products like Argan oil.
• Arganeraie: A woodland ecosystem in Morocco characterized by its Argan tree population.
• Argan Oil: A valuable oil extracted from the seeds of the Argan tree, used in culinary, cosmetic, and medicinal applications.
• UNESCO’s Intangible Cultural Heritage of Humanity: A list that recognizes practices, expressions, knowledge, and skills considered part of a place’s cultural heritage.
• Globally Important Agricultural Heritage System (GIAHS): A designation by FAO recognizing traditional agricultural systems that are rich in biodiversity and sustainably managed.

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Ranking – Daily Current Affairs May 10

2. Which two Indian cities are recognized among the world’s top 50 wealthiest cities, surpassing Washington DC?
A) Mumbai and Kolkata
B) Delhi and Bangalore
C) Mumbai and Delhi
D) Chennai and Mumbai
E) Bangalore and Hyderabad
Answer: C) Mumbai and Delhi

Event and Location:

• Event: Recognition of Mumbai and Delhi among the world’s top 50 wealthiest cities
• Location: Global, with a focus on India

Mandates and Objectives:

• The inclusion of Mumbai and Delhi in the top 50 wealthiest cities list signifies India’s growing economic stature and its cities’ appeal to high-net-worth individuals (HNWIs).
• This ranking by Henley and Partners reflects the economic opportunities and cosmopolitan lifestyle these cities offer, attracting wealthy investors globally.

Important Terms Explained:

• High-Net-Worth Individuals (HNWIs): Typically defined as individuals with liquid assets over a certain figure, such as USD 1 million.
• Henley and Partners: A firm specializing in residence and citizenship planning, known for publishing reports on global wealth and migration trends.

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Banking and Finance – Daily Current Affairs May 10

3. What is the primary purpose of the partnership between YES BANK and EBANX?
A) Market Expansion
B) Technology Upgrade
C) Cross-Border Payments
D) Digital Security
E) Regulatory Compliance
Answer: C) Cross-Border Payments

Event and Location:

• Event: Partnership announcement between YES BANK and EBANX
• Location: India

Mandates and Objectives:

• The partnership between YES BANK and EBANX aims to enhance global commerce by providing scalable and seamless cross-border payment solutions to merchants in India.
• It focuses on improving payment acceptance capabilities for global merchants and fostering digital inclusion and global trade with India.

Important Terms Explained:

• Cross-Border Payments: Transactions involving money transfers across different countries. This partnership focuses on streamlining such payments between global merchants and Indian markets.
• Unified Payments Interface (UPI): A real-time payment system in India that allows transactions to be made through a mobile platform, facilitating easy and quick payments.
• Pix: A payment system in Brazil similar to UPI, emphasizing rapid, digital transactions without the need for physical bank cards.

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4. What is the main feature of Zeta’s new service launched for banks in India?
A) Digital Loans
B) Investment Services
C) Digital Credit
D) Insurance Offerings
E) Savings Accounts
Answer: C) Digital Credit

Event and Location:

• Event: Launch of ‘Digital Credit as a Service’ by Zeta.
• Location: India

Mandates and Objectives:

• Zeta has launched its ‘Digital Credit as a Service’ to help banks in India rapidly conceive and launch various credit products using a digital platform.
• This service aims to leverage the UPI network’s capabilities to enhance credit issuance, targeting a significant share of the projected market by 2030.

Important Terms Explained:

• Digital Credit as a Service: A service offering that enables banks to offer credit products digitally, from origination to collections, through an integrated tech and service platform.
• Credit Line on UPI: A scheme under the National Payments Corporation of India (NPCI) that facilitates the issuance of credit over the Unified Payments Interface (UPI) network.
• Unified Payments Interface (UPI): A system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.

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Business and Economy – Daily Current Affairs May 10

5. Which banking term best describes the transaction conducted by Bharti Enterprises involving ICICI Lombard shares?
A) Dividend
B) Stake Sale
C) Interest
D) Loan
E) Deposit
Answer: B) Stake Sale

Event and Location:

• Event: Stake sale of ICICI Lombard shares by Bharti Enterprises
• Location: Mumbai, India

Mandates and Objectives:

• Bharti Enterprises sold a significant portion of their stake in ICICI Lombard, indicating a strategic shift in their investment.
• The transaction involved selling 38.50 lakh shares through block deals on the BSE, reducing Bharti’s stake from 2.43% to 1.63%.

Important Terms Explained:

• Stake Sale: A financial transaction where an owner sells a portion or all of their shares in a company, often to raise capital or reallocate resources.
• Block Deals: Large quantity securities transactions made through a stock exchange but negotiated privately, often involving institutional investors.

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Appointments – Daily Current Affairs May 10

6. What recent corporate advancement did R Shankar Raman achieve at Larsen & Toubro?
A) CEO
B) President
C) Director
D) CFO
E) EVP
Answer: B) President

Event and Location:

• Event: Elevation of R Shankar Raman to President
• Location: Larsen & Toubro, India

Mandates and Objectives:

• R Shankar Raman has been elevated to the role of President at Larsen & Toubro, continuing to serve as the whole-time Director and CFO.
• This elevation recognizes his contributions and the strategic importance of his roles within the company.

Important Terms Explained:

• President: A senior executive role responsible for overseeing significant segments or the entire operations of a company.
• CFO (Chief Financial Officer): An executive role responsible for managing the financial actions of a company.
• Whole-time Director: A board member who is actively involved in the day-to-day management of the company.

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7. Who has recently assumed the position of Chief of Personnel of the Indian Navy?
A) Vice Admiral Anil Kumar
B) Vice Admiral Sanjay Bhalla
C) Rear Admiral Ravi Vats
D) Admiral Sunil Lanba
E) Vice Admiral Karambir Singh
Answer: B) Vice Admiral Sanjay Bhalla

Event and Location:

• Event: Vice Admiral Sanjay Bhalla assumes charge as the Chief of Personnel of the Indian Navy.
• Location: India

Mandates and Objectives:

• Vice Admiral Sanjay Bhalla took over the significant role of Chief of Personnel, overseeing various personnel-related functions within the Indian Navy.

Important Terms Explained:

• Chief of Personnel (COP): A key position in the Navy responsible for overseeing personnel management, including assignments, promotions, and welfare of naval staff.
• Ati Vishisht Seva Medal (AVSM), Nao Sena Medal (NM): Indian military decorations awarded for distinguished service of a high order to officers of the armed forces.

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8. What new position has R Lakshmi Kanth Rao recently assumed at the Reserve Bank of India?
A) Chief General Manager
B) Executive Director
C) Regional Director
D) Banking Ombudsman
E) Committee Member
Answer: B) Executive Director

Event and Location:

• Event: Appointment of R Lakshmi Kanth Rao as Executive Director of the Reserve Bank of India.
• Location: India

Mandates and Objectives:

• As Executive Director, Rao will oversee the Deposit Insurance and Credit Guarantee Corporation, the Right to Information Act (FAA), and the Department of Communication.
• His role involves significant responsibilities in bank and NBFC regulation, supervision, consumer protection, and communications.

Important Terms Explained:

• Executive Director (ED): A senior role at RBI tasked with oversight and management of specific departments and regulatory functions.
• Deposit Insurance and Credit Guarantee Corporation (DICGC): Provides insurance of deposits and guarantees of credit facilities.
• Right to Information Act (FAA): Legislation that empowers citizens to access information under the control of public authorities.

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Awards – Daily Current Affairs May 10

9. For what achievement was Pawan Sindhi awarded the Global Pride of Sindhi Award 2024?
A) Business leadership
B) Social work
C) Artistic achievement
D) Scientific research
E) Sports excellence
Answer: B) Social work

Event and Location:

• Event: Awarding of the Global Pride of Sindhi Award 2024
• Location: Mukesh Patel auditorium, Juhu, Mumbai, India

Mandates and Objectives:

• Pawan Sindhi received the Global Pride of Sindhi Award 2024 in recognition of his outstanding contributions to social work.
• His work has significantly impacted societal improvement, promoting values like humanity, peace, and prosperity.

Important Terms Explained:

• Global Pride of Sindhi Award: A prestigious honor recognizing individuals of Sindhi descent who have made significant contributions in various fields.
• Social Work: Professional and academic discipline committed to the pursuit of social welfare, social change, and social justice.

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Science and Technology – Daily Current Affairs May 10

10. What significant development has ISRO recently made in its propulsion technology?
A) Hybrid fuel
B) Electric thrusters
C) Semi-cryogenic engine
D) Solar sails
E) Nuclear propulsion
Answer: C) Semi-cryogenic engine

Event and Location:

• Event: Development of a semi-cryogenic engine by ISRO
• Location: Bengaluru, India

Mandates and Objectives:

• ISRO is developing a semi-cryogenic engine using a liquid oxygen (LOX) and kerosene propellant combination to enhance the payload capability of its Launch Vehicle Mark-3 (LVM3) and future launch vehicles.
• This development aims to improve the efficiency and performance of space launch missions.

Important Terms Explained:

• Semi-cryogenic Engine: An engine that uses a combination of cryogenic (very low temperature) and non-cryogenic propellants, specifically liquid oxygen and kerosene in ISRO’s case.
• Liquid Propulsion Systems Centre (LPSC): An ISRO facility dedicated to the development of liquid propulsion systems for both launch vehicles and spacecraft.

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11. What is the main purpose of the MoU signed between GalaxEye and IN-SPACe?
A) Satellite launch
B) Data analysis
C) Facility access
D) Sensor development
E) Climate study
Answer: C) Facility access

Event and Location:

• Event: Signing of a Memorandum of Understanding (MoU) between GalaxEye and IN-SPACe.
• Location: Ahmedabad, India

Mandates and Objectives:

• The MoU between GalaxEye and IN-SPACe facilitates the start-up’s access to co-working and testing facilities at ISRO’s laboratories, supporting their satellite development projects.
• This collaboration is aimed at enhancing GalaxEye’s capabilities in building multi-sensor earth observation satellites and utilizing advanced sensor technologies for various applications.

Important Terms Explained:

• IN-SPACe (Indian National Space Promotion and Authorization Centre): An autonomous agency under India’s Department of Space that facilitates private sector participation in the space sector.
• Earth Observation (EO) Satellites: Satellites designed to observe and monitor Earth’s surface to gather valuable data for various uses, including environmental monitoring, urban planning, and disaster management.

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National Affairs - Daily Current Affairs May 10

12. What is the primary goal of the 'Pirul Lao-Paise Pao' campaign initiated by the Chief Minister of Uttarakhand?
A) Boost economy
B) Create jobs
C) Industrial use
D) Prevent fires
E) Technology upgrade
Answer: D) Prevent fires

Event and Location:

• Event: Launch of 'Pirul Lao-Paise Pao' campaign
• Location: Rudraprayag district, Uttarakhand, India

Mandates and Objectives:

• The campaign's primary goal is to reduce the risk of forest fires by encouraging the collection of Pirul, which are highly flammable pine needles.

Important Terms Explained:

• Pirul: Refers to pine needles known for their rapid flammability, which contributes to frequent forest fires in pine forests.

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13. What is the primary goal of the Drone Didi Yojana as part of the MoU signed between the Ministry of Skill Development & Entrepreneurship and Mahindra & Mahindra Ltd.?
A) Agricultural innovation
B) Women's empowerment
C) Technology transfer
D) Economic growth
E) Corporate partnership
Answer: B) Women's empowerment

Event and Location:

• Event: Signing of MoU between the Ministry of Skill Development & Entrepreneurship (MSDE) and Mahindra & Mahindra Ltd. for the Drone Didi Yojana
• Location: India

Mandates and Objectives:

• The Drone Didi Yojana aims to train 15,000 women to operate drones for agricultural purposes, enhancing their skills in new technology areas and creating new livelihood opportunities.
• The program specifically targets rural women, empowering them through training in emerging technologies to contribute to nation-building.

Important Terms Explained:

• Drone Didi Yojana: A scheme launched to train women in drone operations for agriculture, fostering skill development and empowerment.
• Memorandum of Understanding (MoU): A formal agreement between two parties, in this case, MSDE and Mahindra & Mahindra Ltd., to collaborate on the Drone Didi Yojana.

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14. What is the primary objective of the partnership between Google and Kochi Metro Rail Limited (KMRL)?
A) Service expansion
B) Ticket sales
C) Digital ticketing
D) User convenience
E) Payment security
Answer: C) Digital ticketing

Event and Location:

• Event: Partnership announcement between Google and Kochi Metro Rail Limited (KMRL) for digital ticketing.
• Location: Kochi, India

Mandates and Objectives:

• The main goal of the partnership is to enhance the digital ticketing system for Kochi Metro users through the integration of Google Wallet with KMRL's services.
• This collaboration aims to provide a more streamlined and convenient ticketing experience, simplifying the process of accessing metro services.

Important Terms Explained:

• Google Wallet: A digital wallet platform developed by Google that allows users to store and use electronic versions of payment cards, tickets, and boarding passes among other things.
• KMRL (Kochi Metro Rail Limited): The government agency responsible for the construction, operation, and maintenance of the metro rail in Kochi, India.

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Over All Review

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