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Daily Current Affairs 24th May 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 24th May 2023. It includes all Major National, International, Business and Sports related current affairs of 24th May 2023. 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 24th May 2023 Current affairs test.


Awards & Recognition

1. Georgi Gospodinov Bags 2023 International Booker Prize for ‘Time Shelter’

  • Bulgarian author Georgi Gospodinov, alongside translator Angela Rodel, has clinched the 2023 International Booker Prize for ‘Time Shelter’.
  • This is the first time a work from Bulgaria has been nominated for this prestigious award.
  • The accolade acknowledges fiction that has been translated into English and published in the UK or Ireland within the last year.
  • The award consists of a cash prize of 50,000 pounds (roughly $62,000), which is equally distributed between the author and the translator.

Appointments on the National & International Stage

2. Vijay Shekhar’s Tenure as Part-Time Chairman Extended by RBI

  • The Reserve Bank of India has approved Paytm Payments Bank’s proposal to retain Vijay Shekhar Sharma as its part-time chairman for another year, starting from May 23, 2023.
  • One97 Communications holds a majority stake in Paytm Payments Bank with 49%, while the remaining stake is owned by the bank’s founder, Vijay Shekhar Sharma.
  • The bank, which began its operations in 2017, is headquartered in Noida.

Banking & Economic Developments

3. Google Pay Adds Support for RuPay Credit Cards

  • In collaboration with the National Payments Corporation of India (NPCI), Google Pay has added support for RuPay credit cards through the Unified Payments Interface (UPI).
  • This integration allows users to link their RuPay credit cards on Google Pay and transact with merchants who accept RuPay, both online and offline.
  • This addition benefits RuPay credit cardholders from several banks, including Axis Bank, HDFC Bank, and Kotak Mahindra Bank.

National Policy Updates

4. FAME-II Subsidy for Electric Two-Wheelers to be Reduced from June 2023

  • The Ministry of Heavy Industries has announced that the FAME-II scheme’s subsidies for electric two-wheelers will be decreased for vehicles registered after June 1, 2023.
  • The revised subsidy is set at ₹10,000 per kilowatt hour (kWh), and the maximum subsidy will be reduced from 40% of the vehicle’s price to 15%.
  • The FAME India Scheme operates under the broader National Electric Mobility Mission Plan.

Bilateral Agreements

5. Green Hydrogen Pact Solidified Between India and Australia

  • During the final leg of PM Modi’s three-nation tour – covering Japan, Papua New Guinea, and Australia – he was accorded a ceremonial reception at Sydney’s Admiralty House.
  • During this visit, India and Australia fortified their ties by sealing agreements on migration, mobility partnership, and the Green Hydrogen initiative.
  • These agreements were signed after bilateral discussions between PM Narendra Modi and Australian PM Anthony Albanese.

Sports Partnerships

6. Adidas Designated as Indian Cricket Team’s Kit Sponsor

  • The Board of Control for Cricket in India (BCCI) has announced a collaboration with German sports brand Adidas, making them the official kit sponsor for the Indian cricket team.
  • In 2020, BCCI had partnered with MPL Sports, which followed their earlier alignment with the American brand, Nike.
  • After MPL’s contract ended prematurely, Killer Jeans served as the interim sponsor, with their contract ending on May 31, 2023.

Significant Days & Their Significance

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7. India Observes Commonwealth Day on May 24

  • Though Commonwealth Day is globally celebrated on March 13, India and a few other countries mark it on May 24.
  • This day shines a light on the achievements of the 54 Commonwealth nations, especially in areas such as climate action and gender equality. The theme for 2023 is “Forging a Sustainable and Peaceful Common Future”.
  • Initially named Empire Day, it commemorates Queen Victoria from 1902 and became a yearly observance in 1916. By 1958, to reflect the changing dynamics among the Commonwealth nations, UK’s then PM, Harold Macmillan, renamed it to Commonwealth Day.
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