Daily Current Affairs May 15

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 15. 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 15 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 15

1. When is the International Day of Families celebrated and what is its primary significance?
A) May 15; To celebrate the diversity of family life around the world.
B) May 15; To honor the economic contributions of families.
C) May 14; To acknowledge the cultural importance of families.
D) May 14; To recognize the challenges faced by nuclear families.
E) May 16; To promote international policies for families.
Answer: A) May 15; To celebrate the diversity of family life around the world.

Event and Location:

• Event: International Day of Families 2024
• Location: Worldwide

Mandates and Objectives:

• Recognize the Importance of Families: To highlight the critical role that families play in our society.
• Raise Awareness: To bring attention to the challenges that families face globally.
• Promote Diversity: To celebrate the various forms that families take around the world.
• Support Policies: To encourage the implementation of policies that strengthen family units.

History:

• 1989: The idea for the International Day of Families originated.
• 1994: The UN declared 1994 as the International Year of the Family and established the International Day of Families to be celebrated annually on May 15.
• 2024: Marks the 30th anniversary of the International Day of Families.

Significance:

• Building Blocks of Society: Families are essential for providing love, support, and a sense of belonging.
• Diversity and Inclusion: This day celebrates the diversity of family structures and the unique contributions of each.
• Policy Promotion: Encourages the creation and implementation of policies that support and strengthen families.

Important Terms Explained:

• International Day of Families: A UN-established day to recognize and celebrate the importance of families worldwide, held annually on May 15.
• International Year of the Family: 1994 was designated by the UN to increase awareness of family-related issues and improve policies for families globally.

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Sports – Daily Current Affairs May 15

2. Who recently became India’s 85th Chess Grandmaster and how long did he wait to achieve this title?
A) Viswanathan Anand; 5 years
B) Praggnanandhaa R; 10 years
C) P Shyaamnikhil; 12 years
D) Nihal Sarin; 8 years
E) Vidit Gujrathi; 7 years
Answer: C) P Shyaamnikhil; 12 years

Event and Location:

• Event: P Shyaamnikhil becomes India’s 85th Chess Grandmaster
• Location: Dubai Police Masters, Dubai

Mandates and Objectives:

• Achieve Grandmaster Title: Complete the third and final Grandmaster norm.
• Promote Chess Excellence: Highlight the achievement in the Indian chess community.
• Inspire Young Players: Serve as an inspiration for young chess players in India and globally.

History:

• 2012: P Shyaamnikhil secured his first two Grandmaster norms but had to wait for his third norm.
• 2011: Achieved the first GM norm at the Mumbai Mayor’s Cup.
• 2012: Secured the second GM norm at the Indian Championship.
• 2017: Competed in tournaments across Europe, Vietnam, and UAE in pursuit of the final GM norm.
• 2022: Won the Commonwealth Championship.
• 2024: Achieved the third GM norm at the Dubai Police Masters, completing his journey to become a Grandmaster.

Significance:

• Long-awaited Achievement: Marks the end of a 12-year wait for the final GM norm.
• Recognition of Persistence: Highlights Shyaamnikhil’s dedication and perseverance in the chess world.
• Inspiration: Demonstrates the importance of resilience and continuous effort in achieving goals.

Important Terms Explained:

• Grandmaster (GM): The highest title awarded to chess players by the international chess federation FIDE. It requires achieving three GM norms and a 2500 Elo rating.
• GM Norm: A high-level performance standard in international chess tournaments, a prerequisite for achieving the Grandmaster title.
• Elo Rating: A method for calculating the relative skill levels of players in two-player games such as chess.

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Obituary – Daily Current Affairs May 15

3. Which Canadian author, a 2013 Nobel Prize winner for literature, recently passed away at the age of 92?
A) Margaret Atwood
B) Alice Munro
C) Michael Ondaatje
D) Robertson Davies
E) Yann Martel
Answer: B) Alice Munro

Event and Location:

• Event: Death of Alice Munro
• Location: Port Hope, Ontario, Canada

Mandates and Objectives:

• Honor a Literary Legacy: Recognize Alice Munro’s significant contributions to literature.
• Celebrate Achievements: Highlight her Nobel Prize win and other literary honors.
• Acknowledge Influence: Note her impact on Canadian and global literature.

History:

• 1931: Born in Wingham, Ontario.
• 1968: First major break-through with “Dance of The Happy Shades,” winning the Governor General’s Award.
• 1977: Long-term relationship with the New Yorker magazine began.
• 2013: Won the Nobel Prize for Literature.
• 2024: Passed away at age 92.

Significance:

• Literary Contributions: Known for her short stories, often set in rural Canada.
• Awards and Recognition: Won multiple Governor General’s Awards, the Man Booker International Prize, and the Nobel Prize.
• Influence: Often compared to Anton Chekhov for her insightful and compassionate storytelling.

Important Terms Explained:

• Nobel Prize in Literature: An annual award given to an author, from any country, who has produced outstanding work in the field of literature.
• Governor General’s Award: A major Canadian literary award presented annually for the best English-language and French-language books.
• Man Booker International Prize: An international literary award given every two years to a living author of any nationality for a body of work published in English.

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Banking and Finance – Daily Current Affairs May 15

4. What is the name of HDFC Bank’s new digital credit card that offers customization and cashback benefits?
A) Flexi Pay Credit Card
B) Pixel Play Credit Card
C) Virtual Saver Credit Card
D) Smart Cashback Credit Card
E) Digital Life Credit Card
Answer: B) Pixel Play Credit Card

Event and Location:

• Event: Launch of Pixel Play Credit Card
• Location: India

Mandates and Objectives:

• Launch Innovative Product: Introduce a digital credit card that offers flexibility and cashback.
• Enhance Customer Experience: Allow customers to customize benefits and choose merchants for cashback.
• Promote Digital Transactions: Provide a fully digital application and management process.

Features of Pixel Play Credit Card:

• Customization: Users can select merchants to earn cashback, choose card design, and set their billing cycle date.
• Cashback Benefits: Offers 5% annual cashback.
• Annual Fees: Rs 500 per year.
• Fully Digital: No documentation, email, or phone calls required.
• EMI Management: Easily convert transactions to EMI and manage repayments via Payzapp.
• Application Process: Available through the Payzapp platform.

Important Terms Explained:

• EMI (Equated Monthly Installment): A fixed payment amount made by a borrower to a lender at a specified date each calendar month.
• Payzapp: HDFC Bank’s digital payment and mobile wallet application that facilitates a variety of financial transactions.
• Cashback: A benefit offered to credit card holders where a percentage of the amount spent is returned to the cardholder.

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5. What significant change has Razorpay made to its employee health insurance policy?
A) Increased retirement benefits
B) Inclusion of sibling coverage and HIV/AIDS treatments
C) Elimination of maternity benefits
D) Reduction in co-pays for employees
E) Introduction of pet insurance
Answer: B) Inclusion of sibling coverage and HIV/AIDS treatments

Event and Location:

• Event: Launch of New Employee Health Insurance Policy
• Location: Bengaluru, India

Mandates and Objectives:

• Inclusive Coverage: Extend health insurance to cover employees’ siblings, live-in or LGBTQIA+ partners, and vital treatments like HIV/AIDS and polycystic ovary syndrome.
• Customizable Plans: Allow employees to define their families and customize their health insurance plans according to their individual needs.
• Enhanced Maternity Benefits: Increase C-section coverage limit and provide regular health check-ups for all employees.

History:

• May 15, 2024: Razorpay announced the revamped health insurance policy.
• Founders: Shashank Kumar and Harshil Mathur founded Razorpay, which is the second Indian company to be part of Y Combinator.

Significance:

• Broad-Based and Inclusive: The new policy reflects a trend towards personalized, comprehensive healthcare offerings in India.
• Market Trend: Aligns with the growing adoption of flexible insurance programs and the increase in companies offering comprehensive healthcare.

Key Features:

• Sibling Coverage: Includes siblings in the health insurance plan.
• LGBTQIA+ Inclusion: Allows employees to define live-in or LGBTQIA+ partners as spouses.
• Vital Treatments: Covers treatments for HIV/AIDS and polycystic ovary syndrome.
• Enhanced Maternity Benefits: Increased C-section limit from Rs 75,000 to Rs 1 lakh.
• Regular Health Check-Ups: New benefit for all employees.

Important Terms Explained:

• HIV/AIDS Treatments: Medical treatments provided to manage Human Immunodeficiency Virus (HIV) and Acquired Immunodeficiency Syndrome (AIDS).
• Polycystic Ovary Syndrome (PCOS): A condition that affects a woman’s hormone levels and can lead to various health issues.
• LGBTQIA+: Acronym for Lesbian, Gay, Bisexual, Transgender, Queer or Questioning, Intersex, and Asexual or Allied individuals.
• C-Section: A surgical procedure used to deliver a baby through incisions in the abdomen and uterus.

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Business and Economy – Daily Current Affairs May 15

6. What was the unemployment rate for people aged 15 years and above in urban areas during the January-March 2024 quarter according to the National Sample Survey (NSSO)?
A) 6.8%
B) 6.5%
C) 6.6%
D) 6.7%
E) 9.1%
Answer: D) 6.7%

Event and Location:

• Event: Release of unemployment data by National Sample Survey (NSSO)
• Location: New Delhi, India

Mandates and Objectives:

• Assess Employment Trends: Monitor and report the unemployment rate for urban areas.
• Provide Accurate Data: Offer reliable statistics for policy-making and economic analysis.

Key Data Points:

Overall Unemployment Rate (Jan-Mar 2024): 6.7%

Comparison to Previous Periods:

Gender-Specific Unemployment Rates:

Females (15+ years):

Males (15+ years):

Labour Force Participation Rate (LFPR):

Definitions:

• Unemployment Rate: Percentage of unemployed people in the labor force.
• Labour Force: The population that supplies or offers to supply labor for economic activities, including both employed and unemployed individuals.
• Current Weekly Status (CWS): A metric considering someone unemployed if they did not work even for one hour in a week but sought or were available for work.

Important Terms Explained:

• National Sample Survey (NSSO): An organization under the Ministry of Statistics and Programme Implementation in India, conducting large-scale surveys on various socio-economic topics.
• Periodic Labour Force Survey (PLFS): A survey initiated by the NSSO in April 2017 to provide estimates on key labor force indicators.

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7. What is the primary objective of Hero MotoCorp joining the Open Network for Digital Commerce (ONDC)?
A) To sell two-wheeler vehicles directly online.
B) To enhance reach and convenience by offering parts, accessories, and merchandise digitally.
C) To provide financial services to customers.
D) To develop a new line of two-wheeler models.
E) To establish an international distribution network.
Answer: B) To enhance reach and convenience by offering parts, accessories, and merchandise digitally.

Event and Location:

• Event: Hero MotoCorp joining the Open Network for Digital Commerce (ONDC)
• Location: New Delhi, India

Mandates and Objectives:

• Enhance Digital Accessibility: Provide customers with an easy and accessible digital platform to purchase two-wheeler parts, accessories, and merchandise.
• Improve Reach: Expand the reach of Hero MotoCorp’s products through the ONDC network.
• Support Digital India Mission: Contribute to the Indian government’s Digital India initiative by innovating in the digital commerce space.
• Create Efficient Environment: Develop a fair and efficient ecosystem for channel partners and customers.

History:

• ONDC Introduction: The ONDC is an initiative aimed at promoting open networks developed on open-sourced methodology, using open specifications and open network protocols, independent of any specific platform.
• Hero MotoCorp Integration: Hero MotoCorp has recently joined ONDC to enhance its digital commerce capabilities and improve customer convenience.

Significance:

• Digital Transformation: Facilitates the digital transformation of Hero MotoCorp’s sales and distribution network.
• Hyperlocal Deliveries: Speeds up order processing through hyperlocal deliveries supported by Hero MotoCorp’s extensive physical distribution network.
• Innovative Taxonomy: Pioneers automotive taxonomy within the ONDC network to make it easier for customers to find vehicle parts and accessories.

Important Terms Explained:

• Open Network for Digital Commerce (ONDC): A government-backed initiative in India to promote open networks, allowing seamless digital commerce across various platforms and applications.
• Digital India Mission: An initiative by the Government of India to ensure government services are made available to citizens electronically by improving online infrastructure and by increasing internet connectivity.

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8. What is Moody’s forecast for the growth of the Indian economy in FY25?
A) 6.2%
B) 7.0%
C) 6.6%
D) 6.8%
E) 8.0%
Answer: C) 6.6%

Event and Location:

• Event: Moody’s forecast for Indian economy’s growth
• Location: India

Mandates and Objectives:

• GDP Growth Forecast: Project the economic growth for FY25.
• Impact on NBFCs: Analyze how economic growth affects the profitability and loan growth of non-bank finance companies (NBFCs).
• Comparative Analysis: Compare Moody’s projections with other agencies and institutions.

History:

• 2023-24: Indian economy grew by an estimated 8%.
• FY25: Moody’s predicts a growth rate of 6.6%.
• Following Year: Moody’s predicts a growth rate of 6.2%.

Significance:

• Credit Demand: Strong credit demand supports the NBFC sector’s profitability.
• Rising Funding Costs: Despite rising funding costs, robust economic growth mitigates the impact on NBFCs.
• Asset Quality: Economic conditions help preserve asset quality even as interest rates rise.

Important Terms Explained:

• Gross Domestic Product (GDP): The total value of goods produced and services provided in a country during one year.
• Non-Bank Finance Companies (NBFCs): Financial institutions that offer various banking services but do not have a banking license.
• Credit Demand: The desire for individuals and businesses to borrow money.

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Comparative Forecasts:

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Awards – Daily Current Affairs May 15

9. Who was honored with the Global Excellence Award 2024 for being the “Most Trusted Admission Consultant in Vidarbha Region”?
A) Sashidhar Jagdishan
B) Chandrakant Satija
C) Niranjan Gupta
D) Shilpa Shetty Kundra
E) T Koshy
Answer: B) Chandrakant Satija

Event and Location:

• Event: Global Excellence Award 2024
• Location: Sahara Star Hotel, Mumbai
• Date: May 12, 2024

Mandates and Objectives:

• Recognize Excellence: Honor individuals making significant contributions in their fields.
• Highlight Achievements: Acknowledge Chandrakant Satija’s impact in the education sector.
• Promote Quality Education: Encourage initiatives that provide quality education and career guidance.

Achievements of Chandrakant Satija:

• Award Title: Most Trusted Admission Consultant in Vidarbha Region
• Presenter: Bollywood actress Shilpa Shetty Kundra
• Experience: Over 21 years in the education sector
• Founder and CEO: Chandra Admission Consultants
• Services: Provides quality education, career counseling, and admission guidance

Significance:

• Trust and Recognition: Earned the trust of parents and students in Vidarbha, Chhattisgarh, and Madhya Pradesh.
• Specialization: Assists in securing admissions in prestigious institutions in India and abroad for various courses including MBBS, BTech, MBA, BBA, and Law.

Important Terms Explained:

• Global Excellence Award: An accolade recognizing outstanding contributions and achievements in various fields.
• Chandra Admission Consultants: An educational consultancy firm founded by Chandrakant Satija, specializing in admission guidance for top colleges in India and abroad.

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10. Which organization received the Geospatial World Forum Leadership Award for “Public Policy: Enabling Industry Development” in 2024?
A) ISRO
B) NASA
C) IN-SPACe
D) ESA
E) SpaceX
Answer: C) IN-SPACe

Event and Location:

• Event: Geospatial World Forum Leadership Award Ceremony
• Location: Rotterdam
• Date: May 14, 2024

Mandates and Objectives:

• Recognize Contributions: Acknowledge organizations and individuals making exceptional contributions to the geospatial field.
• Promote Innovation: Highlight innovative approaches addressing global challenges through geospatial technologies.
• Encourage Industry Development: Support the growth of the space sector and non-government entities in the space economy.

Significance of IN-SPACe’s Contribution:

• Public Policy: Recognized for enabling industry development in the space sector.
• Support for Non-Government Entities: Fostered growth and participation of non-government entities in the space economy.
• Enhancement of Capabilities: Implemented policies that significantly enhanced India’s capabilities in space exploration, research, and technology development.

Key Achievements:

• Space Sector Reforms: Played a pivotal role in transforming India’s space landscape.
• Foreign Direct Investment Policy: Recent liberalization empowers entrepreneurial endeavors and stimulates the adoption of downstream space applications.
• International Collaboration: Encourages global collaboration and development in space technology.

Important Terms Explained:

• Geospatial World Forum (GWF): An annual event that acknowledges exceptional contributions to the geospatial field, highlighting advancements and innovations.
• IN-SPACe (Indian National Space Promotion and Authorization Centre): An organization established to promote and authorize space activities in India, focusing on non-government entities and industry development.

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Science and Technology – Daily Current Affairs May 15

11. Where did TCS announce the creation of its Global AI Centre of Excellence, and what will it focus on?
A) London; Financial Technologies
B) New York; Cybersecurity
C) Paris; Human-Centered AI
D) Tokyo; Robotics
E) Berlin; Quantum Computing
Answer: C) Paris; Human-Centered AI

Event and Location:

• Event: Creation of Global AI Centre of Excellence
• Location: Paris, France
• Announcement: Choose France Summit

Mandates and Objectives:

• Human-Centered AI: Develop AI technologies focusing on the brain-machine interface, building empathy in machines, and enhancing creativity.
• Sector Focus: Initially target the banking & financial services (BFS), manufacturing, and consumer sectors.
• Talent Development: Hire new talent, partner with universities for internships and projects to support the National AI Mission.
• Cultural Integration: Leverage France’s renowned design and engineering talent.

Significance:

• Boost AI Capabilities: Enhance human-centered AI capabilities.
• Integration with Local Ecosystem: Join France’s growing AI ecosystem and utilize local expertise.
• Support National AI Mission: Contribute to the development of AI talent and technology in alignment with France’s national initiatives.

Important Terms Explained:

• AI Centre of Excellence: A dedicated hub for developing advanced AI technologies and applications.
• Brain-Machine Interface: Technology that enables direct communication between the brain and external devices.
• Empathy in Machines: Developing AI systems that can understand and respond to human emotions.

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Over All Review

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