Daily Current Affairs 28th May 2024

National News

Dissolution of Food and Nutrition Board: Rationalizing Government Bodies

• The Food and Nutrition Board (FNB), a technical wing of the Ministry of Women and Child Development (WCD) that provided logistical support for community nutrition programs, has been officially dissolved.
• This decision is part of the government’s broader strategy to streamline various governmental bodies.

India’s Trade Deficit With Top Partners in 2023-24

• According to official data, India experienced a trade deficit with nine of its top ten trading partners during the fiscal year 2023-24.
• China surpassed the United States to become India’s largest trading partner, with bilateral trade reaching $118.4 billion.

Government Receives Rs 3,662 Crore Dividend From LIC

• As the largest shareholder in the Life Insurance Corporation (LIC), the Government of India will receive a dividend of Rs 3,662 crore.
• This follows LIC’s declaration of an interim dividend of Rs 6 per share. LIC reported a net profit of Rs 13,782 crore for the quarter ending March 31, 2024, a 4.5 percent increase compared to the same period last year.

International News

Allamaye Halina Named New PM of Chad

• Chad has undergone a significant leadership change as Mahamat Idriss Deby was sworn in as the new president, concluding three years of military rule in the country.
• This transition marks a new chapter for the oil-rich but impoverished nation.

Nepalese Climber Purnima Shrestha Conquers Mount Everest Thrice in a Single Season

• Purnima Shrestha, a Nepalese climber and photojournalist, achieved the extraordinary feat of climbing Mount Everest three times in the current season.
• She successfully reached the summit on May 12, May 19, and May 25.

Saudi Arabia Names Faisal Bin Saud Al-Mejfel As Ambassador To Syria

• Saudi Arabia has appointed Faisal bin Saud Al-Mejfel as its ambassador to Syria, marking the first such appointment in over a decade.
• This move signifies a significant shift in bilateral relations as the two nations work towards reconciliation after years of estrangement due to the Syrian civil war.

South African Regulator Fines SBI’s South Africa Branch

• The Prudential Authority of the South African Reserve Bank fined the State Bank of India’s South Africa branch 10 million rand (₹4.5 crore) for non-compliance with certain provisions of the Financial Intelligence Centre Act 38 of 2001 (FIC Act).
• The penalty includes an immediately payable portion of 5.50 million rand and a suspended amount of 4.50 million rand, contingent on compliance within 36 months.

Lithuania’s President Gitanas Nausėda Secures Landslide Reelection Victory

• Lithuanian President Gitanas Nausėda secured a second term in a landslide victory over Prime Minister Ingrida Šimonytė, with preliminary results showing him receiving 74.5% of the votes.
• This resounding win reflects broad support for his moderate conservative stance and strong advocacy for Ukraine.

Ghana Partners With Reliance Jio Arm And Others For Telecom Infrastructure

• Ghana’s Next-Gen Infrastructure Company (NGIC) is partnering with Tech Mahindra, a subsidiary of Reliance Jio, and Nokia to enhance its 4G and 5G capabilities.
• By following India’s telecom success model, Ghana aims to improve connectivity and digital services across various sectors.

Banking News

RBI Conducts Massive Liquidity Infusion Through Variable Rate Repo Auctions

• The Reserve Bank of India (RBI) is addressing the current liquidity deficit in the banking system through a series of variable rate repo (VRR) auctions.
• In May 2024, the RBI conducted nine VRR auctions, infusing a total of Rs 7.75 trillion into the system, with the latest auction amounting to Rs 1.25 trillion.

TCS Secures Core Banking Transformation Deal With Kuwait’s Burgan Bank

• Tata Consultancy Services (TCS) has signed a deal to modernize the core banking technology of Burgan Bank, a leading commercial bank in Kuwait.
• Burgan Bank will implement TCS BaNCS to replace multiple legacy systems with a modern universal banking solution, fostering innovation and enhancing customer relationships.

Business News

GAIL (India) Ltd. Commissions India’s First Green Hydrogen Plant

• GAIL (India) Ltd., a prominent natural gas transmission and distribution company, has commissioned its first green hydrogen plant in Vijaipur, Madhya Pradesh.
• This milestone marks GAIL’s entry into the new and alternative energy sector.

Appointments News

Jetha Ahir Elected as NAFED Chairman

• Shehra BJP MLA Jetha Ahir, previously the deputy speaker of the Gujarat Assembly, has been elected uncontested as the chairman of the National Agricultural Cooperative Marketing Federation of India (NAFED).
• He received support from Rajkot MP Mohan Kundariya in the election held in Delhi.

Sports News

Dipa Karmakar Etches History by Clinching Gold at Asian Gymnastics Championships

• Indian gymnast Dipa Karmakar made history by becoming the first Indian to win a gold medal at the Asian Championships.
• She achieved this feat in the women’s vault individual final at the Asian Women’s Artistic Gymnastics Championships 2024 in Tashkent, Uzbekistan, on May 26, 2024.

Charles Leclerc Makes History with Monaco Grand Prix Triumph

• Ferrari driver Charles Leclerc achieved a historic victory by becoming the first Monegasque driver to win the Monaco Grand Prix since Louis Chiron in 1931, ending a 92-year drought for local drivers.