Daily BeePedia

25th May 2024

INDEX

RBI, Banking and Economy ___________________________________________ 3

SEBI and Financial Awareness _________________________________________ 3

NABARD and Agriculture ___________________________________________

National __________________________________________________________ 3

International _____________________________________________________ 4

States____________________________________________________________ 4

Reports and Indexes _______________________________________________ 5

Science and Technology ___________________________________________ 5

Defence __________________________________________________________ 6

Events ___________________________________________________________ 7

Awards & Rewards ___________________________________________________ 7

Appointments _____________________________________________________

Important Days ___________________________________________________ 8

Obituaries_________________________________________________________

Books ___________________________________________________________

Sports ___________________________________________________________ 8
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25th May 2024

Memory check 24th May 2024

Q.1: Which of the following statements about the current status of Indian manufacturing is/are correct?
1. Manufacturing contributes 17% of India's GDP.
2. Manufacturing exports reached USD 447.46 billion in FY23.
3. The Index of Industrial Production (IIP) growth was 68.3% from April-October 2023.
A) 1 and 2 only
B) 2 and 3 only
C) 1 and 3 only
D) 1, 2, and 3
E) None of the above

Q.2: Which of the following statements about government policy support for Indian manufacturing is/are
incorrect?
1. The Make in India 2.0 initiative aims to increase manufacturing's GDP share.
2. PLI schemes are part of the Atmanirbhar Bharat Campaign.
3. GST and reduction in corporate tax are aimed at the ease of doing business.
A) 1 only
B) 2 only
C) 3 only
D) 1 and 2 only
E) None of the above

Q.3: Which of the following statements about challenges in the Indian manufacturing sector is/are correct?
1. Only 24% of India's workforce possesses the required skills.
2. Logistics costs in India are 14% lower than the global average.
3. China accounts for a significant portion of India's imports in textiles, machinery, and electronics.
A) 1 only
B) 2 only
C) 1 and 3 only
D) 2 and 3 only
E) 1, 2, and 3

Q.4: Which of the following statements about opportunities in the Indian manufacturing sector is/are
incorrect?
1. The PMI in May 2024 was 58.8, indicating contraction.
2. MSMEs contribute about 30% to GDP and nearly 45% of India's total exports.
3. Pharmaceutical manufacturing costs in India are 30%–35% higher than in the US and Europe.
A) 1 only
B) 2 only
C) 3 only
D) 1 and 3 only
E) 2 and 3 only

Q.5: Which of the following statements about the BSE market capitalization milestone is/are correct?
1. BSE's total market capitalization reached $5 trillion in May 2024.
2. The $5 trillion market cap milestone places India among the top five countries globally.
3. Retail investors and government reforms have driven market cap growth.
A) 1 only
B) 2 only
C) 3 only
D) 1 and 2 only
E) 1, 2, and 3

Answer key at the

end of the file

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25th May 2024

RBI, Banking and Economy

HSBC acquires 6.125% stake in CCIL IFSC

 HSBC, a leading global bank, acquired a 6.125% equity stake in CCIL IFSC Limited through its branch
in Gift City.
 The investment value for this transaction is ₹6.125 crore.
 Clearing Corporation of India Ltd (CCIL), the promoter of CCIL IFSC, will hold a 57.125% stake in the
subsidiary.
 CCIL IFSC is being incorporated with an authorized capital of ₹200 crore and a paid-up capital of ₹100
crore.
 CCIL IFSC will build and operate the Foreign Currency Settlement System (FCSS) at Gift City, India's
sole international financial services centre (IFSC).
 The transaction involves the acquisition of 61.25 lakh equity shares at ₹10 each and is expected to
complete within six months.
 The FCSS will enhance the Gift City ecosystem by promoting more use cases within the IFSC.
 This investment highlights HSBC’s strategic commitment to supporting market infrastructure
development in India, similar to its investments in National Payments Corporation of India (NPCI) and
Clearing Corporation of India Ltd (CCIL).
 State Bank of India (SBI) also acquired a 6.125% stake in CCIL IFSC for ₹6.125 crore.

SEBI and FINANCIAL AWARENESS

Google to buy minority stake in Flipkart for $350 millon

 Google has proposed an investment of about $350 million (₹2,900 crore) to buy a minority stake in
Flipkart.
 Flipkart is raising $1 billion in an ongoing funding round.
 Flipkart has received a commitment of $600 million from its parent firm Walmart.
 Flipkart posted a net loss of ₹4,846 crore in FY23.
Learn Along:
About Google
CEO: Sundar Pichai Founders: Larry Page, Sergey Brin Founded: 4 September 1998

Biocon ties up with Handok for weight loss drug in Korea

 Biocon has signed an exclusive licensing and supply deal with South Korean pharma firm Handok for
commercialisation of chronic weight management drug Liraglutide in East Asia.
 The announcement led to Biocon's shares reaching a 52-week intraday high of ₹330.95 on the BSE.
 Biocon will handle the development, manufacturing, and supply of the drug.
 Handok will be responsible for regulatory approval and commercialisation in the South Korean
market.

NATIONAL
DD Kisan channel to launch AI anchor Krish and Bhoomi on 26 May 2024

 Doordarshan's DD Kisan channel will launch two AI anchors, Krish and Bhoomi, on 26 May 2024,
celebrating its 9th anniversary.
 DD Kisan will be the first government TV channel to use AI anchors for broadcasting information on
agricultural mandi prices, weather updates, and agricultural research.
 The AI anchors can speak in 50 languages and broadcast 24/7 without stopping.

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25th May 2024

 The world's first AI news anchor was introduced by Chinese state news agency Xinhua in 2018,
named Qiu Hao.
 India's first AI news anchor, Sana, was introduced by the India Today group on its Aaj Tak Hindi
news channel in 2023.
 DD Kisan was launched on 26 May 2015 by Prime Minister Narendra Modi to promote inclusive
growth of farmers.
 The channel provides information on agriculture, including weather, mandi prices, government
schemes, and latest research.
 In its 9th year, DD Kisan will revamp to highlight efforts of progressive farmers and serve the rural and
agricultural community in India.

INTERNATIONAL
UAE President confers First-Class Medal of Independence on ambassador of Paraguay

 UAE President Sheikh Mohamed bin Zayed Al Nahyan awarded the First-Class Medal of
Independence to Jose Aguero Avila, Ambassador of Paraguay to the UAE, marking the end of his
tenure.
 The medal recognized Avila's contributions to the development and advancement of bilateral
relations across various fields.
 Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation, presented the medal
during a meeting at the Ministry of Foreign Affairs.
Learn Along:
About UAE
Capital: Abu Dhabi Currency: UAE dirham

STATES
Thiruvananthapuram International Airport achieves zero waste to landfill accolade

 Thiruvananthapuram International Airport is the first airport in India to achieve the Zero Waste to
Landfill (ZWL) accolade.
 Awarded by the Confederation of Indian Industry (CII-ITC) Centre of Excellence for Sustainable
Development, recognizing exceptional waste management and sustainability practices.
 The ZWL assessment confirmed the airport's 99.50% waste diversion from landfills.
 The airport achieved 100% diversion of plastic waste and municipal solid waste (MSW), including
wet and dry waste, from landfills.
 Achievements were driven by the 5R principles: Reduce, Reuse, Reprocess, Recycle, and Recover.
 For FY 2022-2023, ZWL practices were meticulously assessed, with major waste sources including
paper, cutlery, food, and road waste.
 The airport holds ISO 14001:2015 certification, mandating a comprehensive Environmental
Management System (EMS).
 Waste management system adheres to ISO 14001:2015 standards, involving waste segregation,
recycling, monitoring, and reduction.
 Designated sites for segregated waste collection are transferred to a recycling yard and recovery
facility.
 The accolade highlights the airport’s dedication to environmental stewardship and innovative waste
management.
 An Environment and Sustainability team works continuously to enhance environmental performance
and set new benchmarks in sustainability.
Learn Along:
About Kerala
CM:Pinarayi Vijayan Governor:Arif Mohammed Khan Capital: Thiruvananthapuram

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25th May 2024

REPORTS AND INDEXES

Oxford Global Cities Index Report 2024

 Delhi ranked 350th in the 2024 Oxford Economics Global Cities Index, the highest among Indian
cities.
 The Oxford Economics Global Cities Index analyzes 1,000 cities globally based on Economics,
Human Capital, Quality of Life, Environment, and Governance.
 Delhi ranked 55th in Human Capital and 108th in Economics.
 Other Indian cities, Bengaluru and Mumbai, ranked 411th and 427th respectively.
 Sultanpur, Uttar Pradesh ranked 1000th.
 The index highlights that the cities included contribute to 60% of the world's GDP and are home to 30%
of the global population.
 The index forecasts significant economic growth for Indian cities like Delhi and Mumbai up to 2035.
 Technologically advanced cities such as San Francisco and Seattle are expected to lead in income
growth.
 Cities like Jakarta and Manila are noted for rapid economic growth despite infrastructural challenges.
 European cities grow slower but maintain high income levels per capita.
 New York is ranked as the best city globally, with Delhi as the best in India.

SCIENCE AND TECHNOLOGY

Government sets up Committee to tackle Southeast Asian Cybercrimes

 The Ministry of Home Affairs (MHA) set up an inter-ministerial committee to address the rise in
transnational organized cybercrime from Southeast Asian countries like Cambodia, Myanmar, Laos,
and the Philippines.
 The committee is led by the special secretary (internal security) of the MHA and includes members
from the Reserve Bank of India, Department of Financial Services, banks, Financial Intelligence
Unit, Department of Telecommunication, and financial technology companies.
 The committee's purpose is to develop long-term strategies to combat cybercrime and mitigate its
impact.
 45% of cyber-financial frauds in India originate from Southeast Asia, costing the economy over Rs
7,061.51 crore. The government has recovered about 12% of the lost funds.
 I4C has implemented measures to disrupt hacker infrastructure, including monitoring and blocking
Skype accounts, Google and Meta ads, SMS headers, and “mule” bank accounts.
 Significant progress has been made, such as blocking thousands of URLs, mobile apps, SIM cards,
and IMEI numbers.
 Cybercriminals deceive people through investment opportunities, games, dating apps, and fake trading
platforms. Indian teens and young adults have been lured to Cambodia under false job promises and
forced into cybercrime.
 The government has warned the public about misleading job ads and schemes promising quick returns.
Cybercrime prevention measures include:
 Multi-factor authentication for improved security.
 Keeping software up to date to fix security vulnerabilities.
 Using strong, unique passwords for each account.
 Antivirus software to detect and stop malware.
 WPA3 security for Wi-Fi protection.
 Educating about phishing to avoid fake emails.
 Using VPNs to encrypt data transfers.
 Firewalls to monitor and manage network data.
 Backing up data to ensure recovery.

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25th May 2024

 Disabling unused services to reduce attack vectors.

DEFENCE
ICG takes preparatory measures in view of Cyclone Storm ‘Remal’ originating from Central Bay of
Bengal

 Indian Coast Guard (ICG) has initiated comprehensive measures to minimize loss of life and property
due to Cyclonic Storm ‘Remal’ in the central Bay of Bengal.
 Expected to intensify into a Severe Cyclonic Storm by May 25, 2024 and make landfall near West
Bengal Coast on the night of May 26 & 27.
 ICG has coordinated with state administrations and stakeholders for a synchronized response.
 All relevant information has been disseminated to stakeholders for preparedness and coordinated action.
 Remote Operating Stations at Haldia and Paradip are broadcasting regular, multilingual Very High
Frequency alerts advising precautions to transit merchant mariners.
 ICG ships and aircraft are conducting surveillance along the storm's projected path to provide timely
assistance.
 Nine disaster relief teams positioned at Haldia, Paradip, Gopalpur, and Frazerganj for immediate
emergency assistance.
 ICG has notified Bangladesh Coast Guard to undertake preparations and alert fishermen and merchant
marine vessels.
 Merchant vessels at anchorages have been alerted, and port authorities advised to take appropriate
actions.
 Despite the fishing ban, the Fisheries Department has been cautioned to inform country boats about
the developing situation.

Indian Armed Forces To Shift To Integrated Theatre Commands

 Since 2019, the Indian government has aimed to reorganize its military through the creation of
integrated theatre commands for smoother operations.
 The goal is to unify the Indian Army, Navy, and Air Force under common commands for coordinated
responses to threats and battle zones.
Theatre Commands
 Theatre commands involve units from all three defence forces working under one commander,
improving operational organization and resource utilization.
Steps Towards Integration
 The creation of the Chief of Defence Staff (CDS) and the Department of Military Affairs (DMA) in
2019 was crucial for overseeing the transition to theatre-based commands.
 Initial integrations included joint supply nodes and establishing Mumbai as a tri-service defence
station.
Proposed Theatre Commands and Headquarters
 Western Theatre Command (Jaipur): Focus on threats from Pakistan.
 Northern Theatre Command (Lucknow): Focus on the China border.
 Maritime Theatre Command (Coimbatore): Focus on the Indian Ocean Region.
 Additional commands like Air Defence Command are under consideration.
Leadership and Command Management
 Each theatre command would be led by a General or higher rank commander, likely reporting to the
Defence Minister.
 This structure aims to enhance coordination and resource distribution across military operations.
More About Integrated Theatre Commands
 Integrated Theatre Commands consolidate resources from all military branches for efficiency.
 Inspired by the U.S. and China, these reforms address inefficiencies highlighted during the 1999 Kargil
war.

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 Under General Bipin Rawat (Chief of Defence Staff, 2020), efforts for unified command, better logistics,
and divided strategic theatres (Northern, Western, Eastern, Southern, and Air Defence) began.
 The system promotes collaboration, efficient force use, reduces redundancy, and optimizes defence
spending.
 The proposed Maritime Theatre Command will secure India's maritime interests.

EVENTS
10th World Water Forum opens in Indonesia's Bali

 The 10th World Water Forum under the theme "Water for Shared Prosperity" opened on Indonesia's
island of Bali.
 Attendees included country leaders and United Nations representatives.
 Focused on four key topics: water conservation, clean water and sanitation, food and energy
security, and mitigation of natural disasters.
 Indonesian President Joko Widodo highlighted that by 2050, 500 million small farmers who
contribute 80% of the world's food will be most vulnerable to drought.
 Indonesia hopes to strengthen global collaboration to address water-related challenges.

AWARDS AND REWARDS

FTII student bags ‘La Cinef’ Award at 77th Cannes Film Festival

 “SUNFLOWERS WERE THE FIRST ONES TO KNOW”, a film by Chidanand Naik from the Film and
Television Institute of India (FTII), won the Cannes’ La Cinef Award for Best Short at the 77th
Cannes Film Festival.
 The winner was announced on 23rd May 2024, and Director Chidanand Naik received the award.
 The film was directed by Chidananda S Naik, shot by Suraj Thakur, edited by Manoj V, and sound by
Abhishek Kadam.
 This is a historic moment for Indian Cinema, highlighting FTII's success at international stages,
especially at Cannes.
 The recognition comes four years after another FTII film ‘CATDOG’ won an award at the 73rd Cannes.
 The 77th Cannes Film Festival featured multiple entries from India, including several FTII alumni such
as Payal Kapadia, Maisam Ali, Santosh Sivan, and Chidanand S Naik.
 The film tells the story of an elderly woman who steals the village's rooster, causing community
disarray and invoking a prophecy that sends her family into exile.
 This film is a product of FTII's TV Wing’s One-year program, where students from different disciplines
collaborate on a year-end project.

NHPC conferred with ‘The Economic Times HR World Future Ready Organization Award 2024-25’

 NHPC, India’s premier hydropower company, has been conferred with ‘The Economic Times HR
World Future Ready Organization Award 2024-25’.
 The award recognizes NHPC's preparedness in upskilling employees, Environmental, Social and
Governance (ESG) interventions, Diversity, Equity & Inclusion (DE&I) initiatives, technological
upgradations, Employee Engagement processes, and Corporate Governance strategies.
 The award establishes NHPC as a trusted brand among all its stakeholders.
 The award was received by Director (Personnel), NHPC, Shri Uttam Lal, along with Executive
Director (HR), Shri Lucas Guria, and a team of NHPC officers.
 The awards ceremony was held in Mumbai on 23rd May, 2024.
Learn Along:
About NHPC

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25th May 2024

 NHPC Ltd. (Formerly known as National Hydroelectric Power Corporation Ltd.) was incorporated in 1975 under
Companies Act, 1956.
 CMD: Rajeev Kumar Vishnoi

IMPORTANT DAYS
Day/Week Observance Significance
25 May World Football Day 2024 marks the 100th anniversary of the first international
football tournament in history with the representation of all regions,
which took place on May 25, 1924, during the summer Olympic
games held in Paris. In recognition of this milestone, on May 7, 2024,
the General Assembly passed Resolution proclaiming May 25 as
World Football Day on 25 May 2024.

SPORTS
JSSPS Cadet Secures Two Bronze Medals at IWF World Youth Weightlifting Championship in Lima,
Peru
 Babulal Hembrom, a Jharkhand State Sports Promotion Society (JSSPS) cadet, secured two
bronze medals at the IWF World Youth Weightlifting Championship.
 Babulal clinched third place in 49 kg Snatch and Clean & Jerk categories at the championship in
Lima, Peru.
 JSSPS is supported by Central Coal Fields Ltd (CCL) to promote sports facilities in coal-bearing states.
 Around 500 sports persons receive training and formal education at the prestigious JSSPS campus in
Ranchi.
 Babulal's achievement endorses the efforts of CCL and the coal ministry in promoting sports culture in
coal-bearing states.
 The Coal Ministry plans to set up “Centre of Excellence in Sports” in each of its 7 subsidiaries
under a CSR initiative.

Answer key to Memory check

Q:1- A Q:2- E Q:3- C Q:4- D Q:5- E

Sources of the News:

The Hindu,The Indian Express,Business Standard, The Financial Express ,PIB, etc.

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