Daily Current Affairs May 17

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May 17 | Daily Current Affairs 2024

Important Days – Daily Current Affairs May 17

1. What was the primary focus of the roundtable discussion organized by the Department of Telecommunications (DoT) on World Telecom and Information Society Day 2024?
A) Expansion of 4G networks
B) Collaboration between telecom companies
C) Sustainable Digital Development driven by AI
D) Reduction of telecom tariffs
E) Promotion of satellite communication
Answer: C) Sustainable Digital Development driven by AI

Event and Location:

• Event: World Telecom and Information Society Day (WTISD) 2024
• Date: 17th May 2024
• Location: DoT HQ, New Delhi

Mandates and Objectives:

• Purpose: Highlight the critical role of telecommunications in sustainable development.
• Primary Objective: Discuss and promote sustainable digital development driven by AI.

Key Highlights:

• Roundtable Discussion: Focused on “Sustainable Digital Development driven by AI” with participation from over 30 industry leaders, OEMs, and startups.
• Participants: Tejas Networks, VVDN, Nivetti, Cisco, Nokia, Sensorise, Lekha, Sparsh, HFCL, XS Infosol, TEMA, MAIT, COAI, VoICE.
• 5G Training: DoT trained about 350 faculty members and students in a one-month-long 5G course aimed at its 100 5G use-case labs.
• Digital Communication Innovation Square (DCIS) and Telecom Technology Development Fund (TTDF): Supported entrepreneurs using technology to solve various problems.
• Sangam Digital Twin Initiative: Launched for infrastructure planning and design using AI-driven insights.

Important Terms Explained:

• World Telecom and Information Society Day (WTISD): Observed on 17th May to raise awareness of the possibilities that internet and ICTs can bring to societies and economies, marking the founding of the International Telecommunication Union (ITU).
• Sustainable Digital Development: The use of digital technologies to promote economic growth and social development while ensuring environmental sustainability.
• Artificial Intelligence (AI): The simulation of human intelligence processes by machines, especially computer systems, used in various applications including sustainable development.
• 5G Technology: The fifth generation of mobile network technology, offering higher speeds, lower latency, and greater capacity than previous generations.

Static GK Information:

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Banking and Finance – Daily Current Affairs May 17

2. What is the primary objective of the $500 million extended by IFC to HDFC Bank?
A) Increase international trade
B) Enhance digital banking services
C) Ramp up microloans, especially for women in semi-urban and rural areas
D) Expand branch network
E) Invest in corporate bonds
Answer: C) Ramp up microloans, especially for women in semi-urban and rural areas

Event and Location:

• Event: IFC extends $500 million to HDFC Bank
• Date: 17th May 2024
• Location: New Delhi, India

Mandates and Objectives:

• Purpose: Support HDFC Bank in providing microloans, focusing on women in semi-urban and rural areas.
• Primary Objective: Enhance financial inclusion and socio-economic growth by providing microloans to Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) through HDFC Bank’s Sustainable Livelihoods Initiative (SLI).

Key Highlights:

• Target Group: Women borrowers in semi-urban and rural areas.
• Use of Funds: On-lending as microloans to SHGs and JLGs, enabling borrowers to graduate to individual lending schemes.
• Impact: Empower women, promote self-employment, and foster financial inclusion.

Important Terms Explained:

• Microloans: Small loans typically given to individuals or small businesses who lack access to traditional banking services. These loans are crucial for financial inclusion and economic development.
• Self-Help Groups (SHGs): Community-based groups, primarily composed of women, that come together to pool savings and access microloans for income-generating activities.
• Joint Liability Groups (JLGs): A group of individuals who come together to avail of microloans under a mutual guarantee system, ensuring repayment of loans.
• Sustainable Livelihoods Initiative (SLI): HDFC Bank’s program focused on providing microfinance lending programs exclusively for women borrowers.

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Acquisitions and Mergers – Daily Current Affairs May 17

3. What was the primary product involved in BEML’s recent order from Northern Coal Fields Limited worth Rs 250 crore?
A) Excavators
B) Bulldozers
C) Rear Dump Trucks
D) Conveyor Belts
E) Drilling Machines
Answer: C) Rear Dump Trucks

Event and Location:

• Event: BEML secures an order from Northern Coal Fields Limited
• Date: 17th May 2024
• Location: PIB Delhi

Mandates and Objectives:

• Purpose: Supply of 28 BH100 Rear Dump Trucks to Northern Coal Fields Limited (NCL).
• Primary Objective: Enhance NCL’s capacity for efficient handling of overburden and coal in heavy-duty mining operations.

Key Highlights:

• Value of Order: Rs 250 crore
• Product: BH100 Rear Dump Trucks with a payload capacity of up to 100 tonnes.
• Maintenance: Guaranteed Spare Parts contract for five years to ensure uninterrupted service and operational efficiency.
• Significance: Reflects trust and reliance on BEML’s heavy-duty mining equipment, marking a milestone in their partnership with NCL.

Important Terms Explained:

• BH100 Rear Dump Truck: A heavy-duty truck designed to transport payloads of up to 100 tonnes, primarily used in mining operations for efficient handling of overburden and coal.
• Guaranteed Spare Parts Contract: A service agreement ensuring the availability of spare parts for a specified period, in this case, five years, to maintain the operational efficiency of the equipment.

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Appointments - Daily Current Affairs May 17

4. Who was elected as the President of the Supreme Court Bar Association (SCBA) in the recent elections?
A) Pradeep Rai
B) Dr. Adish C Aggarwala
C) Priya Hingorani
D) Kapil Sibal
E) Neeraj Srivastava
Answer: D) Kapil Sibal

Event and Location:

• Event: Election of the President of the Supreme Court Bar Association (SCBA)
• Date: 17th May 2024
• Location: Supreme Court of India, New Delhi

Mandates and Objectives:

• Purpose: Elect the President of the Supreme Court Bar Association.
• Primary Objective: Ensure leadership and representation for the SCBA members.

Key Highlights:

• Winner: Senior Advocate Kapil Sibal secured 1066 votes.
• Runner-up: Senior Advocate Pradeep Rai secured 689 votes.

Important Terms Explained:

• Supreme Court Bar Association (SCBA): A professional body comprising practicing lawyers of the Supreme Court of India, representing their interests and facilitating their activities.
• Senior Advocate: A designation given to an advocate in India recognizing their expertise, experience, and contributions to the legal profession.

Static GK Information:

Career Highlights:

• Additional Solicitor General of India (1989-90)
• Senior Advocate (designated in 1983)
• Former President of SCBA (served three times between 1995-2002)
• Former Minister in the Congress-led UPA government

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5. Who were recently appointed as additional directors in the Central Bureau of Investigation (CBI)?
A) Pradeep Rai and Adish C Aggarwala
B) A Y V Krishna and N Venu Gopal
C) Rajesh Kumar Singh and Neeraj Srivastava
D) Kapil Sibal and V. Srinivas
E) A Y V Krishna and Rajesh Kumar Singh
Answer: B) A Y V Krishna and N Venu Gopal

Event and Location:

• Event: Appointment of additional directors in the Central Bureau of Investigation (CBI)
• Date: 17th May 2024
• Location: New Delhi, India

Mandates and Objectives:

• Purpose: Strengthen the investigative capabilities of the CBI.
• Primary Objective: Appoint experienced officers to bolster the CBI’s leadership team.

Key Highlights:

A Y V Krishna:

• Background: 1995-batch IPS officer of the Assam-Meghalaya cadre.
• Previous Role: Inspector General in the Central Reserve Police Force (CRPF).
• Tenure: Up to August 6, 2028.

N Venu Gopal:

• Background: IPS officer from the Himachal Pradesh cadre.
• Previous Role: Joint Director in the CBI.
• Tenure: Up to May 24, 2027.

Important Terms Explained:

• Central Bureau of Investigation (CBI): India’s premier investigative agency responsible for investigating corruption, financial crimes, and other serious offenses.
• IPS (Indian Police Service): One of the three All India Services, the IPS is responsible for policing and law enforcement in India.

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Defence - Daily Current Affairs May 17

6. What was the primary focus of the 12th India-Mongolia Joint Working Group meeting held in Ulaanbaatar?
A) Trade agreements
B) Cultural exchange programs
C) Capacity building programs for civil servants
D) Bilateral defence cooperation
E) Economic cooperation
Answer: D) Bilateral defence cooperation

Event and Location:

• Event: 12th India-Mongolia Joint Working Group (JWG) Meeting
• Date: 16-17 May 2024
• Location: Ulaanbaatar, Mongolia

Mandates and Objectives:

• Purpose: Bolster bilateral defence ties between India and Mongolia.

Primary Objectives:

• Review the progress on various bilateral defence cooperation initiatives.
• Identify means to further enhance cooperation in defence areas.
• Exchange views on the current geopolitical situation.

Key Highlights:

• Discussion on the potential and capacity of the Indian defence industry.
• Expression of satisfaction with ongoing defence cooperation.
• Commitment to further strengthening ties and cooperation in defence.

Additional Engagements:

• Joint Secretary and Indian Ambassador called on the Deputy Defence Minister of Mongolia.
• Visit to a training establishment in Ulaanbaatar and review of ongoing engagements.

Important Terms Explained:

• Joint Working Group (JWG): A committee formed by representatives from two or more countries to discuss and manage cooperative initiatives and shared interests, particularly in areas such as defence, trade, or technology.
• Defence Cooperation: Collaborative efforts between countries to enhance their defence capabilities and strategic relations through joint exercises, training, technology sharing, and other military engagements.

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National Affairs - Daily Current Affairs May 17

7. What was the main focus of the India-Kenya bilateral meeting led by the Secretary of DARPG and the Director General of KSG?
A) Economic cooperation
B) Cultural exchange programs
C) Capacity building programs for senior officers
D) Trade agreements
E) Defense collaboration
Answer: C) Capacity building programs for senior officers

Event and Location:

• Event: India-Kenya Bilateral Meeting
• Date: 14th May 2024
• Location: Video conferencing

Mandates and Objectives:

• Purpose: Enhance India-Kenya bilateral collaboration in personnel administration and governance.
• Primary Objective: Capacity building programs for senior officers of Kenya.

Key Focus Areas:

• Implementation of the policy “Maximum Governance-Minimum Government”

CPGRAMS reforms:

• Benchmarking of e-Services using National e-Services Delivery Assessment
• Recognition of meritocracy through Prime Minister’s Awards for Excellence in Public Administration

Important Terms Explained:

• Capacity Building: Developing and strengthening the skills, instincts, abilities, processes, and resources that organizations and communities need to survive, adapt, and thrive.
• National Centre of Good Governance (NCGG): An institute under the Government of India focused on capacity building and training programs for civil servants.
• Kenya School of Governance (KSG): An institution dedicated to the training and capacity building of Kenyan civil servants to achieve Vision 2030.

Static GK Information:

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8. What was the main focus of the India-Bangladesh bilateral meeting held on 16th May 2024?
A) Trade agreements
B) Cultural exchange programs
C) Capacity building programs for civil servants
D) Defense collaboration
E) Economic cooperation
Answer: C) Capacity building programs for civil servants

Event and Location:

• Event: India-Bangladesh Bilateral Meeting
• Date: 16th May 2024
• Location: Online mode

Mandates and Objectives:

• Purpose: Discuss and implement capacity building programs for civil servants of Bangladesh.
• Primary Objective: Conduct capacity building programs and other developmental initiatives for Bangladeshi civil servants.

Key Focus Areas:

• Conducting capacity building programs for faculty of Capacity Building Institutions of the Ministry of Public Administration.
• Senior Executive Development Program.
• Alumni meet of Bangladesh Civil Servants at NCGG.
• Participation of Bangladesh Civil Servants in the 27th National e-Governance Conference.

Agreed Programs:

• One-week capacity building program in NCGG for senior civil servants of Bangladesh.
• Two two-week capacity building programs for faculty members of BPATC, BCS Administration Academy, NAPD, and NADA of Bangladesh in July and September 2024.
• Alumni meet for shared learning experiences.
• Participation of awarded Bangladesh civil servants as speakers at the 27th National e-Governance Conference.

Important Terms Explained:

• Capacity Building: Developing and enhancing the skills, abilities, and resources that organizations and individuals need to perform their functions effectively.
• National Centre of Good Governance (NCGG): An Indian institute dedicated to capacity building and training for civil servants.
• Bangladesh Public Administration Training Centre (BPATC): An institution focused on training Bangladeshi civil servants.
• National Academy for Planning and Development (NAPD): An institution in Bangladesh aimed at planning and development training.
• Bangladesh Civil Service Administration Academy (BCSAA): An academy for training Bangladesh Civil Service officers.
• National Academy for Development Administration (NADA): A Bangladeshi institution dedicated to development administration training.

Static GK Information:

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9. What was the primary focus of the ONDC Startup Mahotsav organized by DPIIT?
A) Trade agreements
B) Cultural exchange programs
C) Capacity building for civil servants
D) Collaboration between startups and the Open Network for Digital Commerce (ONDC)
E) Defense collaboration
Answer: D) Collaboration between startups and the Open Network for Digital Commerce (ONDC)

Event and Location:

• Event: ONDC Startup Mahotsav
• Date: 17th May 2024
• Location: Vanijya Bhawan, New Delhi

Mandates and Objectives:

• Purpose: Leverage the opportunities provided by the Open Network for Digital Commerce (ONDC) for startups.
• Primary Objective: Foster collaboration between startups and ONDC to democratize digital commerce in India.

Key Highlights:

• Participants: Around 5,000 startups participated in hybrid mode.
• Commitments: 12 unicorns and over 125 startups committed to onboarding ONDC.
• Transactions: ONDC facilitated 7.22 million transactions in April 2024.
• Sellers Onboarded: Over 5 lakh sellers, with more than 70% being small or medium-sized sellers.

Important Terms Explained:

• ONDC (Open Network for Digital Commerce): A protocol aimed at democratizing digital commerce by lowering entry barriers and providing a level playing field for all e-commerce players.
• Startup India Initiative: Launched on 16th January 2016 to support entrepreneurs and build a robust startup ecosystem in India.

Static GK Information:

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10. What is the primary purpose of the GST portal's new forms for pan masala and gutkha manufacturers?
A) Increase the production capacity
B) Enhance product quality
C) Curb tax evasion
D) Promote exports
E) Regulate prices
Answer: C) Curb tax evasion

Event and Location:

• Event: Launch of forms on the GST portal for registering machines of pan masala and gutkha makers
• Date: 17th May 2024

Mandates and Objectives:

• Purpose: Curb tax evasion in the pan masala and gutkha sector.
• Primary Objective: Ensure proper registration and monitoring of machines used by manufacturers.

Key Highlights:

Forms Introduced:

• Form GST SRM-I: For registration and disposal of machines.
• Form GST SRM-II: To be introduced shortly, will require information on inputs and outputs during a month.
• Compliance Requirement: Manufacturers must register their machines within 30 days of the notification (by April 1, 2024), deadline extended to May 15.
• Penalty: Non-compliance could lead to a fine of Rs 1 lakh per machine and possible confiscation of the machine by the GST department, as per the Finance Act, 2024.

Important Terms Explained:

• GST Portal: The online platform for managing goods and services tax (GST) related activities in India.
• Form GST SRM-I: A form for registering and disposing of machines used in the manufacturing of pan masala and gutkha.
• Form GST SRM-II: A forthcoming form that will gather information on monthly inputs and outputs of the registered machines.

Static GK Information:

• GST Council: The governing body responsible for the implementation and administration of GST in India, consisting of the Union Finance Minister and state finance ministers.
• Central Board of Indirect Taxes and Customs (CBIC): The agency responsible for administering indirect taxes in India, including GST, customs, central excise, and service tax.
• Finance Act, 2024: An act that includes provisions related to financial regulations, including penalties for non-compliance with GST requirements.

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