Daily Current Affairs May 14

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 14. 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 14 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 14

1. On what date did the United Nations General Assembly declare as World Football Day to recognize football’s unifying power and historical significance?
A) May 5th
B) May 15th
C) May 25th
D) June 5th
E) July 25th
Answer: C) May 25th

Event and Location:

• Event: The United Nations General Assembly declaring May 25th as World Football Day.

Mandates and Objectives:

• Global Unity and Awareness: The declaration is intended to celebrate football’s role in fostering global unity, promoting mutual understanding, tolerance, respect, and solidarity across different cultures and regions.
• Recognition of Historical Significance: The date commemorates the centenary of the first international football tournament, emphasizing football’s long-standing global influence.

Important Terms Explained:

• World Football Day: A day recognized by the United Nations to celebrate the influence and unifying power of football globally.
• First International Football Tournament: This refers to the football tournament during the 1924 Summer Olympics in Paris, which is considered the first to feature international representation in the modern era.

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2. Which milestone event did Mazagon Dock Shipbuilders Ltd celebrate with various inaugurations and the release of a commemorative coin?
A) 100th Anniversary
B) 150th Foundation Day
C) 200th Foundation Day
D) 250th Foundation Day
E) 300th Anniversary
Answer: D) 250th Foundation Day

Event and Location:

• Event: Mazagon Dock Shipbuilders Ltd’s celebration of its 250th Foundation Day.
• Location: Mumbai, India

Mandates and Objectives:

• Celebration of History and Achievements: The event marked a significant historical milestone for MDL, showcasing its long-standing contribution to India’s maritime capabilities and shipbuilding industry.
• Launch of New Projects: The celebration included the inauguration of new projects such as the prototype midget submarine, solar electric hybrid boat, and fuel cell electric ferry, emphasizing MDL’s ongoing innovation and expansion.

Important Terms Explained:

• Midget Submarine ‘Arowana’: A prototype developed by MDL as a proof of concept for further advancements in submarine design.
• Solar Electric Hybrid Boat and Fuel Cell Electric Ferry: Innovations launched to promote sustainable maritime transportation, featuring low operation costs and environmental benefits.

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Sports – Daily Current Affairs May 14

3. Who won the French MotoGP race at Le Mans, leading the championship standings?
A) Francesco Bagnaia
B) Marc Marquez
C) Jorge Martin
D) Valentino Rossi
E) Maverick Viñales
Answer: C) Jorge Martin

Event and Location:

• Event: Jorge Martin’s victory in the French MotoGP at Le Mans.
• Location: Le Mans, France

Mandates and Objectives:

• Championship Standings: Jorge Martin extended his lead in the championship, showcasing his skill and strategic racing capabilities.
• Race Dynamics: The race was marked by intense competition, particularly between Martin, Bagnaia, and Marquez, highlighting the high level of skill and strategy involved in MotoGP racing.

Important Terms Explained:

• MotoGP: The premier class of motorcycle road racing events held on road circuits sanctioned by the Fédération Internationale de Motocyclisme (FIM), the sport’s global governing body.
• Pole Position: The position at the front of the starting grid, assigned to the fastest qualifier.
• Pramac Racing: A motorcycle racing team currently competing in the MotoGP World Championship.

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4. Who won the first leg of the Grand Chess Tour at the Superbet Poland Rapid & Blitz?
A) Wei Yi
B) Magnus Carlsen
C) Garry Kasparov
D) Michael Khodarkovsky
E) Cristian Chirila
Answer: B) Magnus Carlsen

Event and Location:

• Event: Magnus Carlsen winning the first leg of the Grand Chess Tour at the Superbet Poland Rapid & Blitz.
• Location: Warsaw, Poland

Mandates and Objectives:

• Chess Promotion: The Grand Chess Tour, including events like the Superbet Poland Rapid & Blitz, is designed to showcase elite-level chess and inspire chess participation globally.
• Performance Highlight: Magnus Carlsen’s victory highlights his continued dominance in the chess world, enhancing his reputation and influence in the sport.

Important Terms Explained:

• Grand Chess Tour (GCT): An annual series of international chess events that brings together the world’s best players to compete in a mix of rapid, blitz, and classical tournaments.
• Rapid & Blitz Chess: Formats of chess where each player has a limited time to make their moves, leading to faster and more dynamic games.

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5. Which team won its first Sultan Azlan Shah Trophy by defeating Pakistan in a penalty shootout?
A) Japan
B) Malaysia
C) Canada
D) South Korea
E) New Zealand
Answer: A) Japan

Event and Location:

• Event: Japanese men’s hockey team winning the Sultan Azlan Shah Trophy for the first time.
• Location: Ipoh, Malaysia

Mandates and Objectives:

• Historical Achievement: Japan’s victory marked its first win at the Sultan Azlan Shah Trophy, highlighting a significant milestone in its sports history.
• Competitive Excellence: The win against Pakistan in a penalty shootout underscores the competitive spirit and skill level of the Japanese team.

Important Terms Explained:

• Sultan Azlan Shah Trophy: An international men’s field hockey tournament organized by the Malaysia Hockey Confederation, named after the former Sultan of Perak and a notable figure in Asian hockey.
• Penalty Shootout: A method used in field hockey to determine a winner after a match ends in a tie, involving players taking turns trying to score against the goalkeeper.

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Obituary – Daily Current Affairs May 14

6. Sushil Kumar Modi, who recently passed away, held which of the following positions during his political career?
A) Deputy Chief Minister of Bihar
B) Member of Lok Sabha
C) Member of Rajya Sabha
D) All of the above
E) None of the above
Answer: D) All of the above

Event and Location:

• Event: The passing of Sushil Kumar Modi, a prominent political figure in Bihar.
• Location: Passed away in New Delhi, with significant political history in Bihar.

Mandates and Objectives:

• Political Legacy: Sushil Kumar Modi was recognized for his extensive contributions to Bihar’s political landscape and his role in the BJP’s success in the state.

Important Terms Explained:

• MLA (Member of Legislative Assembly): An elected representative to the legislative assembly of a state in India.
• MLC (Member of Legislative Council): A member of the upper house in the state legislature in India.
• Rajya Sabha: The upper house of India’s bicameral Parliament, representing the states.

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Banking and Finance – Daily Current Affairs May 14

7. Which bank has become the first trading-cum-clearing member of the India International Bullion Exchange (IIBX) at GIFT City?
A) HDFC Bank
B) ICICI Bank
C) State Bank of India
D) Axis Bank
E) Kotak Mahindra Bank
Answer: C) State Bank of India

Event and Location:

• Event: State Bank of India (SBI) becoming the first trading-cum-clearing member of India International Bullion Exchange (IIBX).
• Location: GIFT City, Gujarat

Mandates and Objectives:

• Role Expansion: SBI can now conduct and settle trades on behalf of its clients at IIBX.
• RBI Guidelines: Allow branches of an Indian Bank in GIFT IFSC to act as trading and clearing members, enhancing the operations at IIBX.

Important Terms Explained:

• India International Bullion Exchange (IIBX): An exchange at GIFT City that facilitates the trading of gold and other precious metals, aiming to improve market transparency and efficiency.
• GIFT City: Gujarat International Finance Tec-City, a business district in Gujarat, India, designed to promote financial services and technology.
• Trading-Cum-Clearing Member (TCM): A member of an exchange that can execute and also settle trades, usually on behalf of clients.

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8. What is the purpose of the new functionality introduced in the Annual Information Statement (AIS) by the CBDT?
A) To increase tax rates
B) To display status of feedback
C) To reduce taxpayer services
D) To introduce new taxes
E) To collect feedback only
Answer: B) To display status of feedback

Event and Location:

• Event: Introduction of a new functionality in the Annual Information Statement (AIS) by the CBDT.

Mandates and Objectives:

• Transparency and Compliance: The new functionality aims to enhance transparency and ease of compliance by allowing taxpayers to see the status of their feedback on reported financial transactions.
• Feedback Mechanism: Taxpayers can provide feedback on transactions, which is then verified with the source/reporting entities.

Important Terms Explained:

• Central Board of Direct Taxes (CBDT): A part of the Department of Revenue in the Ministry of Finance that provides essential inputs for policy and planning of direct taxes in India.
• Annual Information Statement (AIS): A comprehensive statement that captures financial transaction data, helping taxpayers to verify and assess their tax liabilities accurately.

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Business and Economy – Daily Current Affairs May 14

9. What is the rate of Wholesale Price Index (WPI) inflation for April 2024?
A) 1.2%
B) 1.26%
C) 0.5%
D) 5.5%
E) 4.83%
Answer: B) 1.26%

Event and Location:

• Event: The Wholesale Price Index (WPI) inflation rate reached a 13-month high.
• Location: India

Mandates and Objectives:

• Monetary Policy Considerations: Although WPI inflation is not a direct factor in the Monetary Policy Committee’s (MPC) decisions, which primarily considers CPI, it reflects on the pricing power of companies.
• Economic Indicators: WPI inflation serves as a significant indicator of price movements and inflationary trends in the wholesale sector.

Important Terms Explained:

• Wholesale Price Index (WPI): WPI measures the changes in the prices of goods sold and traded in bulk by wholesalers. It is used to monitor price movements that reflect supply and demand in industry, manufacturing, and construction.
• Monetary Policy Committee (MPC): A committee of the Reserve Bank of India that is responsible for fixing the benchmark interest rate in India. The MPC’s main objective is to maintain price stability and growth.
• Base Effect: It refers to the impact of the past year’s inflation rate on the current year’s inflation rate calculation, which can make it appear higher or lower.
• Basis Points (bps): A unit of measurement for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%.

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10. What is the maximum percentage stake that Quant Mutual Fund is allowed to acquire in RBL Bank as per RBI’s recent approval?
A) 4.68%
B) 9.98%
C) 10%
D) 12%
E) 15%
Answer: B) 9.98%

Event and Location:

• Event: Reserve Bank of India (RBI) approval for Quant Mutual Fund to increase its stake in RBL Bank.
• Location: Mumbai, India

Mandates and Objectives:

• Regulatory Approval: The RBI’s approval allows Quant Mutual Fund to increase its stake in RBL Bank under specific conditions.
• Banking Regulation Act: This act governs the acquisition and ownership stakes in banks, ensuring stability and regulatory compliance.

Important Terms Explained:

• Quant Mutual Fund (Quant MF): A financial institution that invests in various securities, pools from individual and corporate investors.
• RBL Bank: A private sector bank in India offering a range of banking and financial services.
• Banking Regulation Act, 1949: An Indian law that regulates all banking firms in India, setting the legal framework within which banks operate.

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11. Which organizations partnered to provide homestay entrepreneurship training along the Chardham Yatra route?
A) EaseMyTrip, SIDBI, UTDB
B) EaseMyTrip, RBI, Karnataka Tourism
C) SIDBI, OYO Rooms, UTDB
D) MakeMyTrip, SIDBI, Uttarakhand Govt.
E) EaseMyTrip, SIDBI, Gujarat Tourism
Answer: A) EaseMyTrip, SIDBI, UTDB

Event and Location:

• Event: Launch of a homestay entrepreneurship training program along the Chardham Yatra route.
• Location: Chardham Yatra route, Uttarakhand, India

Mandates and Objectives:

• Upskilling Homestay Owners: The training program aims to upskill 150 homestay owners in areas such as hospitality, eco-friendly practices, and management.
• Partnership Objectives: Collaboration among EaseMyTrip, SIDBI, and UTDB to enhance tourism and sustainability in the region.

Important Terms Explained:

• Chardham Yatra: An important Hindu pilgrimage circuit in the Indian Himalayas located in Uttarakhand.
• Homestay Entrepreneurship Training Program: A program aimed at improving the skills of homestay owners to offer better services and manage their facilities more efficiently.

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Awards – Daily Current Affairs May 14

12. Who received the ‘PSU Samarpan Award’ for their leadership and contributions at Hindustan Shipyard Limited?
A) Cmde Hemant Khatri
B) Cmde Rajesh Goyal
C) Cmde Anil Kumar
D) Cmde Vijay Singh
E) Cmde Arjun Patel
Answer: A) Cmde Hemant Khatri

Event and Location:

• Event: Cmde Hemant Khatri being honored with the ‘PSU Samarpan Award’.
• Location: New Delhi, India

Mandates and Objectives:

• Recognition of Excellence: The award celebrates Khatri’s leadership and his role in the transformative growth and success of Hindustan Shipyard Limited.
• Promotion of Public Sector Achievements: The award is given to acknowledge significant contributions of public sector professionals to the advancement of the nation.

Important Terms Explained:

• PSU Samarpan Award: A prestigious accolade given to individuals in public sector undertakings (PSUs) who have shown exceptional leadership and have significantly contributed to the country’s development.
• Hindustan Shipyard Limited (HSL): A key player in India’s maritime sector, involved in shipbuilding and ship repair.

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Science and Technology – Daily Current Affairs May 14

13. What is the primary reason for the current operational approach to the XRISM satellite’s instrument issue?
A) High costs of repair
B) Technological limitations
C) To prioritize other projects
D) To continue collecting valuable scientific data
E) Lack of expert knowledge
Answer: D) To continue collecting valuable scientific data

Event and Location:

• Event: Decision to continue operations with the XRISM satellite despite an instrument issue.

Mandates and Objectives:

• Operational Continuity: The decision to operate the instrument as-is for the next 18 months is to maximize data collection before attempting another repair.
• Scientific Output: Focus on continuing to collect valuable scientific data despite the mechanical issue with the gate valve.

Important Terms Explained:

• XRISM (X-ray Imaging and Spectroscopy Mission): A satellite mission by JAXA and NASA aimed at conducting X-ray astronomy, which faced an issue with a gate valve failing to open.
• Gate Valve: A component used to control the flow of substances through a distribution system. In this case, it’s used on an instrument aboard XRISM and affects the instrument’s functionality.
• Cryogenic Temperatures: Extremely low temperatures used in various scientific applications, including space instruments. Handling issues at these temperatures can be technically challenging.

Static GK Information:

• Countries Involved: Japan and USA
• Agencies: Japan Aerospace Exploration Agency (JAXA) and National Aeronautics and Space Administration (NASA)

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International Affairs – Daily Current Affairs May 14

14. What is the main goal of the ‘Long-Term Dubai Gaming Visa’ initiative launched by Dubai?
A) To attract tourists
B) To enhance local education
C) To entice gaming industry professionals
D) To increase real estate investments
E) To promote traditional arts
Answer: C) To entice gaming industry professionals

Event and Location:

• Event: Launch of the ‘Long-Term Dubai Gaming Visa’.
• Location: Dubai, United Arab Emirates

Mandates and Objectives:

• Industry Growth: This visa initiative aims to attract up to 30,000 workers from the gaming industry by 2033, including developers, programmers, and engineers.
• Regional Development: The initiative is part of a broader effort to establish Dubai and the surrounding region as a leading hub in the gaming and esports industries.

Important Terms Explained:

• Dubai Gaming Visa: A specialized visa aimed at attracting professionals from the gaming industry to live and work in Dubai.
• Program for Gaming 2033: A strategic initiative by Dubai to boost its role in the global gaming industry and enhance its GDP through increased activities related to gaming and esports.

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National Affairs – Daily Current Affairs May 14

15. What is the capacity of the floating solar plant being installed by SAIL-Bhilai in Chhattisgarh?
A) 15 MW
B) 35 MW
C) 50 MW
D) 20 MW
E) 25 MW
Answer: A) 15 MW

Event and Location:

• Event: Installation of Chhattisgarh’s first floating solar plant by Bhilai Steel Plant (BSP), a unit of Steel Authority of India Limited (SAIL).
• Location: Maroda-1 reservoir, Durg district, Chhattisgarh, India.

Mandates and Objectives:

• Environmental Sustainability: The project aims to reduce carbon emissions and promote renewable energy within the steel production processes.
• Green Steel Production: The initiative is part of SAIL’s strategy to integrate green energy sources to enhance the environmental sustainability of its operations.

Important Terms Explained:

• Floating Solar Plant: A type of photovoltaic system that floats on water bodies, typically installed on reservoirs or lakes to conserve land and reduce water evaporation.
• NTPC-SAIL Power Supply Company Limited (NSPCL): A joint venture between National Thermal Power Corporation (NTPC) and SAIL, focusing on power generation.
• Engineering, Procurement, and Construction (EPC) Contract: A common form of contracting arrangement within the construction industry where the EPC contractor is responsible for all the activities from design, procurement, construction, to commissioning and handover of the project to the end-user or owner.

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