Daily Current Affairs 3rd May 2024

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Daily Current Affairs 3rd May, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 3rd May, 2024. It includes all Major National, International, Business and Sports related current affairs of 3rd 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 3rd May, 2024 Current affairs test.

International News

Solomon Islands Elects Pro-China Leader as Prime Minister

In a notable political development, the Solomon Islands has chosen former Foreign Minister Jeremiah Manele as its new prime minister, suggesting that the South Pacific island nation will likely continue its close relationship with China.

Banking News

RBI Penalizes Co-operative Banks

The Reserve Bank of India (RBI) has imposed financial penalties on several co-operative banks for regulatory breaches. These penalties are a response to shortcomings in regulatory compliance, not a judgment on specific transactions or agreements between the banks and their customers.

NPCI Partners with Namibia for Instant Payment System

NPCI International Payments Limited (NIPL) has collaborated with the Bank of Namibia to introduce a real-time payment system similar to India’s Unified Payment Interface (UPI). This marks NPCI’s first partnership with a central bank for deploying the UPI system internationally, aiming to transform digital payments in Namibia.

RBI Announces 8% Interest on Floating Rate Bond 2034

The Indian government has launched a Floating Rate Bond maturing in 2034, with the Reserve Bank of India setting an 8% interest rate for the Floating Rate Savings Bond (FRSB) 2034. This bond features a variable interest rate that adjusts every six months based on market conditions.

Economy News

India’s Manufacturing Activity Strong in April

India’s manufacturing sector has remained robust in the new fiscal year’s first quarter, continuing the momentum from the previous year. The HSBC India Manufacturing Purchasing Managers’ Index for April showed strong expansion, with manufacturing activity experiencing its second-highest growth since early 2021.

Micron India to Roll Out First Chips in 2025

Micron India’s Sanand facility is preparing to release its first domestically produced semiconductor chips in 2025, focusing on global exports. Managing Director Anand Ramamoorthy highlighted the growing global demand, strategic partnerships, and diverse applications, with emphasis on agility and a shortage of talent in areas like cybersecurity.

Adani Green Energy Secures $400 Million for Solar Projects

Adani Green Energy Ltd has secured $400 million in financing from a group of five international banks for its 750 MW solar projects in Rajasthan and Gujarat. The funding will support the construction of these projects, expected to begin operating from November 2024.

Business News

Former BharatPe COO Launches VC Fund

Dhruv Dhanraj Bahl, former COO of BharatPe, has ventured into the world of venture capital by launching Eternal Capital with an initial corpus of Rs 240 crore, including a greenshoe option.

Appointments News

Pratima Singh Appointed as Director in DPIIT

Pratima Singh, an Indian Revenue Service officer, has been appointed as Director in the Department of Promotion of Industry and Internal Trade, according to the Department of Personnel & Training.

Sports News

Amul Sponsors USA and South Africa in T20 World Cup

Indian dairy giant Amul will be the lead arm sponsor for the USA and South Africa cricket teams during the T20 World Cup in June.

ICC Bans West Indies Cricketer Devon Thomas for Five Years

The International Cricket Council has banned West Indies player Devon Thomas for five years for violating multiple anti-corruption codes.

India to Host BWF World Junior Badminton Championships in 2025

India will host the 2025 BWF World Junior Championships at the National Centre of Excellence in Guwahati, marking the first time since 2008 that India will host this prestigious badminton event.

Banking News

ICICI Bank Joins India’s Top Five Companies by Market Cap

ICICI Bank has become one of India’s top five companies by market capitalization, surpassing Rs 8 trillion. The private bank’s shares have surged, increasing its market value and solidifying its status as a financial leader.

Important Days

World Press Freedom Day 2024 Celebrated on May 3rd

On May 3rd, the world will observe World Press Freedom Day, which highlights the principles of press freedom and the role of journalists in informing the public. The 2024 theme, “A Press for the Planet: Journalism in the Face of the Environmental Crisis,” emphasizes journalism’s role in addressing environmental issues.

Obituaries News

Veteran Politician V. Srinivas Prasad Dies at 76

The Indian political scene mourns the loss of V. Srinivas Prasad, a Bharatiya Janata Party Member of Parliament and former Union Minister, who died at 76 in Bengaluru, Karnataka. Prasad’s career spanned five decades.

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