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Daily Current Affairs 1st May, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 1st May, 2024. It includes all Major National, International, Business and Sports related current affairs of 1st 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 1st May, 2024 Current affairs test.

National News

India’s Increasing Reliance on Chinese Imports Raises Concerns

  • A study by the Global Trade Research Initiative (GTRI) points out a significant rise in India’s dependence on imports from China, with the import bill climbing from approximately $70 billion in 2018-19 to over $101 billion in 2023-24.
  • In the last fifteen years, the proportion of India’s industrial goods sourced from China has increased to 30%, and the growth in imports from China has surpassed the overall growth of India’s imports by 2.3 times.

International News

Zimbabwe Launches New Currency Amid Doubts

  • The government of Zimbabwe has introduced a new currency known as the ZiG (Zimbabwe Gold) to tackle the persistent currency issues in the country.
  • Initially available electronically, the ZiG, which is backed by the nation’s gold reserves, is now also available in the form of banknotes and coins.

Discovery of a Fast, Ancient Herbivore Dinosaur in Argentina

  • Argentinian paleontologists have discovered a new species of medium-sized herbivorous dinosaur named Chakisaurus nekul in Patagonia.
  • The dinosaur lived around 90 million years ago during the Late Cretaceous period.
  • Published in the journal Cretaceous Research, this discovery highlights the dinosaur’s swiftness and distinct tail structure.

States News

Uttarakhand Halts Production of Several Patanjali Products

  • The Uttarakhand government has halted the production of 14 Patanjali Ayurved products, owned by Baba Ramdev, due to misleading claims about their benefits.
  • This action is part of ongoing legal actions against Ramdev for not adhering to orders to stop false advertising.

Banking News

Cred Introduces New ‘Scan & Pay’ Feature for Offline Payments

  • Cred has ventured into the offline payment market with a new UPI-based ‘Scan and Pay’ service.
  • This feature enables users to pay directly from their bank accounts using any QR code, enhancing the payment process in venues like supermarkets, eateries, beauty salons, and clothing stores.

RBI Revokes License of Acemoney (India) Over Unfair Practices

  • The Reserve Bank of India has canceled the license of the Delhi-based non-banking financial company, Acemoney (India) Limited, due to non-compliant lending practices.
  • The company was found to be charging excessive interest rates and inadequately safeguarding customer data, in addition to other risk management and conduct violations.

Economy News

India Lowers Windfall Tax on Petroleum Crude

  • The Indian government has reduced the windfall tax on petroleum crude to 8,400 Indian rupees per metric ton from 9,600 rupees, effective from May 1.
  • This follows a recent increase in the tax earlier in the month.

Appointment News

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Justice Dinesh Kumar Becomes SAT Presiding Officer

  • Justice Dinesh Kumar, the retired chief justice of the Karnataka High Court, has assumed the role of the Presiding Officer of the Securities Appellate Tribunal (SAT) starting April 29, 2024, for a term of four years.

Agreement News

India and Europe Enhance Cooperation on 6G Technology

  • The Bharat 6G Alliance is poised to sign a cooperation deal with Europe’s Industry Alliance 6G, building on a similar partnership with the United States.
  • The aim is to advance the development of 6G technology together.

Sports News

Kenyan Runners Win at TCS World 10K Bengaluru

  • Kenyan athletes dominated the 16th Tata Consultancy Services World 10K Bengaluru, with Peter Mwaniki and Lilian Kasait winning the international elite men’s and women’s categories with times of 28:15 and 30:56, respectively.

Paris Saint-Germain Secures a Record 12th Ligue-1 Championship

  • Paris Saint-Germain has clinched their 12th Ligue-1 title for the 2023-24 season under coach Luis Enrique, marking their third consecutive win and reinforcing their position as a top team in French football.

Ranks and Reports News

Indian EdTech Startup Emeritus Tops Global Ranking

  • Emeritus, an Indian edtech startup founded in 2015 by Ashwin Damera and Chaitanya Kalipatnapu, has been ranked as the leading company in TIME Magazine’s “World’s Top EdTech Companies of 2024.” Emeritus partners with renowned universities globally to offer a range of courses.

Important Days

International Labour Day 2024 Observance

  • International Labour Day, also known as May Day or Workers’ Day, was observed on Wednesday, May 1st, 2024.
  • This day celebrates workers’ achievements worldwide, focusing on their rights and promoting safe and healthy work environments, especially in light of changing climatic conditions.

Obituaries News

Prominent Journalist Vinay Vir Dies at 72

  • Vinay Vir, a distinguished journalist, editor, and publisher of the Daily Hindi Milap, passed away at 72 on April 27th, 2024.
  • He was widely respected in the journalism field and was an advocate for the Hindi language in South India.
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