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Daily Current Affairs 17th May, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 17th May, 2024. It includes all Major National, International, Business and Sports related current affairs of 17th May, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 17th May, 2024 Current affairs test.

National News

NTPC Talcher launches ‘Girl Empowerment Mission’ to support girls’ education & development

● NTPC Talcher Thermal inaugurates its flagship corporate socialresponsibility (CSR) initiative, the“Girl Empowerment Mission 2024”.
● This one-month-long initiative aims to support 40 young girls from eight government schools covering four Gram Panchayats by providing them with access to quality education, health, life skills training, and mentorship.

 People Given Citizenship Certificates For The First Time Under CAA

● The first set of citizenship certificates to 14 people was issued under theCitizenship (Amendment) Act or CAA, nearly two months after the Centre notified it, initiating the process of granting Indian nationality to persecuted non-Muslim migrants from Pakistan, Afghanistan and Bangladesh.
● Under the CAA, the qualification period of citizenship application has been reduced from 11 to 5 years for undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan who came to India before
December 31, 2014.

India records highest number of Internet shutdowns globally in 2023

● India witnessed the highest number of Internet shut downs in the world in 2023, a record it has held for the sixth straight year
● The Internet was snapped 116 times in the country last year, the Keep It On coalition, a grouping of civil society bodies that advocates against Internet blockades
● Officials in India continue to impose Internet shutdown orders over communal tension, violence, exams, and other reasons.

Banking and Finance News

Reserve Bank of India’s Investment in IIFC’s UK Arm Decreases by 20% in FY24

● According to the latest Half Yearly Report on Management of Foreign Exchange Reserve, the Reserve Bank of India’s (RBI) investmentin the state-owned India Infrastructure Finance Company (IIFC) UK subsidiary decreased by a 5th from the previous year, reaching $932 million in FY’2023-24.
● The central bank is required to invest a portion of its foreign exchange reserves, specifically $5 billion, in the company.
● This mandate came from demands by the government to support infrastructure funding.

EaseMyTrip Partners with the Small Industries Development Bank of India and the Uttarakhand Tourism Development Board

● com partners with the Small Industries Development Bank of India (SIDBI)and the Uttarakhand Tourism Development Board (UTDB) to introduce a Homestay Entrepreneurship Training Programme.
● The program aims to empower homestay owners along the Chardham Yatra route by enhancing their hospitality skills and promoting eco-friendly practices.
● Launched in April and continuing through May, the training program targets 150 homestay owners. It integrates classroom learning with practical sessions.
● Upon completion of the training, participants receive a certification jointly issued by EaseMyTrip, SIDBI, and UTDB, validating theirnewly acquired skills.


Business News

PhonePe Teams Up with LankaPay to Encourage Unified Payments Interface Payments in Sri Lanka

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● PhonePe, a leading fintech company based in Bengaluru, has partnered with Sri Lanka-based Lanka Pay to enable Unified Payments Interface (UPI) transactionsfor PhonePe users in Sri Lanka.

● PhonePe users travelling to Sri Lanka can now make payments using UPI’s rails across LankaPay’s merchants throughout thecountry.
● Transactions will be conducted in Indian Rupees (INR),with currency exchange rates applied to such transactions.
● Apart from the National Payments Corporation of India’s (NPCI)UPI, these transactions will be facilitated by the LankaPay National Payment Network.
● LankaPay is owned by the Central Bank of Sri Lanka.

ReNew inks initial pact with Societe Generale for $1 billion debt financing

● Energy firm ReNew announced that it has signed an initial pact with European bank Societe Generale for up to $1 billion in financing as debt and advisory solutions over the next three years.
● Renews has signed a Memorandum of Understanding (MoU) with Societe Generale, to support the financing and development of the company’s various strategic energy transition projects both in India and globally.

TVS Motor Company begins operations in Italy

● TVS Motor Company(TVSM) unveiled operations in Italy via its branch office TVS Motor Italia headed by Giovanni Notarbartolo di Furnari.
● The company will introduce a selection of its advanced, high-quality thermic and electric scooters and motorcycles, the leading two and three wheeler manufacturer.
● It is a strategic step towards our global ambitions. Italy’s rich automotive culture and its embrace of cutting-edge transport solutions present a perfect backdrop for our product range

Singapore’s Lawrence Wong Takes Oath as New Prime Minister After 2 Decades

● Lawrence Wonghas been sworn in as Singapore’s new Prime Minister, succeeding Lee Hsien Loong after his two-decade tenure.
● Lawrence Wong took his oath of office at the Istana government office, officially assuming the role of Prime Minister.
● The transition of power marks a significant moment in Singapore’s political landscape, with Lawrence Wong becoming only the second person outside of the Lee family to lead the nation.

Corteva Agriscience Names Subroto Geed as New President for South Asia

● Corteva Agriscience, an agriculture solutions company, has appointed Subroto Geed as the President of South Asia.
● In his role, Geed will lead the South Asia business of Corteva Agriscience, focusing on driving growth for the company’s Seed andCrop Protection businesses.


Mous And Agreement 

FICCI, IESA sign contract to foster innovation in the semiconductor industry

● The Federation of Indian Chambers of Commerce and Industry (FICCI) and the India Electronics and Semiconductor Association(IESA) have signed a Memorandum of Understanding to promote innovation, support the semiconductor and electronics industry, and strengthen supply chains.

Life Insurance Corporation of India Shares Jump 6% Following SEBI’s Extension of Deadline to Meet Minimum Public Holding Requirements Until May 2027

● The Securities and Exchange Board of India (SEBI) has granted the State- owned Life Insurance Corporation of India (LIC)an additional 3 years until May 2027 to comply with minimum public shareholding norms.
● Following the announcement, LIC’s shares witnessed a significant surge of more than 6%, reflecting investor optimism.
● The revised timeline for the Corporation to achieve10% public shareholding is on or before May 16, 2027.
● Post LIC’s May 2022 IPO, the government of India owns 50% of the insurer.
● The decision aligns with Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957,which mandates achieving 10% public shareholding within 5 years from the date of listing.
● In December 2023, the Department of Economic Affairs granted LIC a one-time exemption to achieve25% minimum public shareholding within 10 years.

Sports News

T20 World Cup to stream and broadcast with sign language, audio description

● In a first for Indian sports streaming, the ICC Men’s T20 cricket WorldCup will be streamed with Hindi audio description and Indian Sign Language (ISL) for visually and hearing impaired viewers, Disney+ Hotstar, the
streaming service with the rights to stream the tournament this year announced.

Important Days

World Telecommunication And Information Society Day 2024 – May 17

● World Telecommunication And Information Society Day2024 is celebrated on May 17.
● The United Nations General Assembly(UNGA) declared May 17 as World Telecommunication and Information Society Day.
● In the year 1865, International Telecommunication Union was founded, when the first Indian Telegraph Convention was signed.

World Hypertension Day 2024 – May 17

● World Hypertension Day 2024is celebrated on May 17.
● This day is prompted by the World Hypertension League(WHL).
● The Theme of World Hypertension Day 2024 is “Measure Your Blood Pressure Accurately, Control it, Live Longer!”.

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