Current Affairs Today May 24 2018

We are here for you to provide the important current affairs May 24 2018 which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, India Today, Indian Express, Business Standard, all Government official websites. Our complete current affairs helps you to get more marks in Banking, insurance, UPSC, SSC, CLAT, Railway and all other competitive Exams.

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 INDIAN AFFAIRS

India and Nepal plan to run joint operation to control wildlife poaching
On May 22,2018, Governments of India and Nepal has joined hands to plan on running a joint operation to control wildlife poaching.
Objective:
In order to control wildlife poaching and trafficking of animal parts.
Keypoints of the joint operation:
i. The operation is to be conducted in Shuklaphanta National Park in Kanchanpur district on Nepal’s side and Krishnapur Wildlife Sanctuary in Uttar Pradesh.
ii. This move comes after both the sides realised that the two reserves are contagious to each other.
iii. This decision was taken at a joint security meeting held at Haldwani, Uttarakhand.
iv. There should be a regular surveillance at the border crossings to build a network to share information. Both India and Nepal will conduct joint patrol at bordering forest areas.
v. The two sides also agreed to manage the wildlife corridors at Brahmadev and Laljhadi to ease the movement of animals, particularly elephants.
Nepal:
Capital: Kathmandu.
Prime Minister : Khadga Prasad Oli.

Joint Military Exercise SURYA KIRAN-XIII between India and Nepal to be conducted at Pithoragarh
India and Nepal’s joint military exercise Surya Kiran-XIII will be held at Pithoragarh district, Uttarakhand from 30th May to 12thJune 2018.Military-Exercise-SURYA-KIRAN-XIIISURYA KIRAN-XIII:
i. The exercise will see the participation of over 300 soldiers from Nepali and Indian armies. They will share their experiences of counter-insurgency and counter-terrorism operations.
ii. Surya Kiran is a bi-annual event. It is hosted alternatively by Nepal and India.
iii. Surya Kiran has the highest troop participation compared to other international military exercises with India.
iv. This exercise aims to conduct battalion level joint training with focus on counterterrorism operations in mountainous terrain.
v. Additionaly, disaster management training and relief work will be conducted as part of this exercise.
vi. This exercise would improve the level of defence cooperation and Indo-Nepal bilateral relations.
About Indian Army:
♦ Chief of the Army Staff (COAS) – General Bipin Rawat
♦ Headquarters – New Delhi

India’s first National Sports University in Manipur: Union Cabinet approves ordinance
On May 23,2018, The Union Cabinet approved the ordinance of setting India’s first National Sports University in Imphal, Manipur.
Key points:
i. The ordinance for this proposal in on the lines of the bill introduced in Lok Sabha in August 2017.
ii. The proposed institute will focus on various areas likesports science, sports technology, high performance training.
iii.  Manipur government has already granted land for the institute.Rs. 100 crore has been allocated for the institute .
Manipur:
♦ Chief Minister: N Biren Singh
♦ Governor : Jagdish Mukhi
♦ National Parks:  i. Keibul Lamjao National Park; ii. Sirohi National Park.

Union Cabinet approves ordinance to amend Insolvency and Bankruptcy Code
On 23rd May 2018, the Union Cabinet approved an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.Parliament passes Insolvency & Bankruptcy Code Amendment BillInsolvency and Bankruptcy Code:
i. Through this amendment to the Insolvency and Bankruptcy Code, homebuyers are given the status of creditors in the insolvency process.
ii. This also eases some conditions for the micro, small and medium scale enterprises (MSMEs).
iii. These changes are part of the recommendations of a committee to review and recommend changes in the IBC.
iv. The government amended Section 29A clause of the IBC. It lists entities barred from bidding for companies under insolvency.
v. This is to ensure that wilful defaulters and those whose accounts have been classified as non-performing assets for more than one year are barred from bidding for stressed assets.
vi.This is Recommended by 14-member high-level committee chaired by ministry of corporate affairs secretary Injeti Srinivas
Tag lines of some banks:
♦ Canara Bank – Together we can
♦ Central Bank of India – Central To you Since 1911
♦ Corporation Bank – A Premier Public Sector Bank

INTERNATIONAL AFFAIRS

Dr. Harsh Vardhan leads Indian delegation in Mission Innovation (MI) Ministerial at Malmo, Sweden
On May 24,2018, India launches  international incubator for clean energy innovators in MI3 at Malmo , Sweden.India announces its plan for hosting MI clean energy materials Workshop in October-November, 2018 at New Delhi .
i. At the Solutions Summit, the MI 2020 Solutions booklet was launched, showcasing over fifty cutting-edge breakthroughs emerging from MI members investments ranging from blockchain technologies to the world’s first commercial passenger electric boat.
ii. World Economic Forum White paper on public-private cooperation was also released.
iii. India announced setting up of First International Incubator for clean energy in public-private partnership at a total investment of around US $ 5 million in Delhi………………………………..Click here to Read more

Nepal: first country in South-East Asia validated for eliminating trachoma
On May 24,2018, The World Health Organization (WHO) declared Nepal the first country to eliminate Trachoma.Trachoma was the second leading cause of preventable blindness in the Himalayan nation in the 1980s.Eliminating trachomaThe disease puts more than 190 million people in 41 countries at the risk of blindness. It is responsible for the blindness or visual impairment of around 1.9 million people worldwide.
Objective of WHO:
In 1998, the World Health Assembly had resolved to eliminate trachoma as a public health problem.
Preventive measures taken by the Govt. of Nepal to eradicate Trachoma:
i. In 2002, the Government of Nepal had stepped up the efforts to eliminate trachoma with the establishment of a National Trachoma Programme. The prevalence of active (inflammatory) trachoma in the country fell by 40 per cent following the implementation of sustained control activities from 2002 to 2005.
ii. The Nepal government, through the ministry of water supply and sanitation, provided incentives to local communities and districts to build and maintain latrines, measures that were crucial to improve sanitation and reduce the disease carrying flies.
iii. The national trachoma programme in that country also collaborated with the Ministry of Education to include a module on trachoma in the school curriculum
About Trachoma :
Trachoma is a chlamydial infection which happens due to lack of hygiene, unclean water supply and can spread by contact with eye, nose, or throat secretions of a person suffering from the disease or indirectly via flies. The infection is particularly common among children.
World Health Organization(WHO):
Headquarters:  Geneva, Switzerland.
Head: Tedros Adhanom.

India moves one notch up to 44th rank in IMD’s competitiveness rankings
India has moved up one rank and reached the 44th place in terms of competitiveness, in the annual rankings compiled by International Institute for Management Development (IMD).
India moves one notch up to 44th rank in IMD’s competitiveness rankings:
i. United States has obtained first rank in the list. It is followed by Hong Kong and Singapore in the second and third place respectively.
ii. The Netherlands and Switzerland also have secured a place in the top five positions.
iii. India has improved one rank from last year and secured 44th position worldwide. It has been ranked the 12th most competitive economy out of the 14 Asian countries on the list.
iv. The other top 10 countries are: Denmark (6th), the UAE (7th), Norway (8th) and Sweden (9th) and Canada (10th).
v. China has secured 13th position. The IMD’s competitiveness rankings are published every year since 1989. This year 63 countries have been ranked. Cyprus and Saudi Arabia have made their first appearance in the list.
About International Institute for Management Development (IMD) World Competitiveness Center:
♦ Director – Arturo Bris
♦ Type – a research group at IMD business school in Switzerland

Palestine joins world’s chemical weapons watchdog: EU
Palestine has submitted its instrument of accession to Chemical Weapons Convention to European Union (EU).OPCWPalestine joins world’s chemical weapons watchdog:
i. The Organization for the Prohibition of Chemical Weapons (OPCW) said that, on 17th May 2018 Palestine deposited its instrument of accession to the Chemical Weapons Convention.
ii. The Convention will come into force for Palestine on 16th June 2018. The OPCW is an international chemical weapons watchdog.
iii. It has been acting as the implementing body for the Chemical Weapons Convention since 1997.

US disinvites China from RIMPAC exercise over South China Sea
On 23rd May 2018, Pentagon, the headquarters of the United States Department of Defense disinvited China from participating in Rim of the Pacific (RIMPAC) exercise.
US disinvites China from RIMPAC exercise over South China Sea:
i. The RIMPAC is a biennial exercise. It is hosted by the United States. It is expected to begin in June.
ii. United Nations has uninvited China due to its militarization of islands in the South China Sea.
iii. China, Philippines, Vietnam, Taiwan, Malaysia and Brunei have been fighting over the South China Sea for several years.

Pakistan hosted SCO Regional Anti-Terrorist Structure meeting in Islamabad
On 23rd May 2018, the Shanghai Cooperation Organisation-Regional Anti-Terrorist Structure (SCO-RATS) meeting started in Islamabad, Pakistan.SCOShanghai Cooperation Organisation-Regional Anti-Terrorist Structure (SCO-RATS) meeting:
i. The Shanghai Cooperation Organisation-Regional Anti-Terrorist Structure (SCO-RATS) meeting is a three day meeting.
ii. This is the first time Pakistan is hosting the (SCO-RATS) meeting. The main agenda of the meeting is issues related to terrorist threats in the region and how to manage them.
iii .Experts from the 8 SCO member states: China, Kazakhstan, India, Kyrgyzstan, Russia, Tajikistan, Uzbekistan and Pakistanand representatives of the SCO-Regional Anti-Terrorist Structure (SCO-RATS) are taking part in the meeting.
About Shanghai Cooperation Organisation (SCO):
♦ Founded – 2001
♦ Secretary-General – Rashid Alimov
♦ Headquarters – Beijing, China

5th India CLMV Business Conclave held at Phnom Penh, Cambodia on 21-22 May 2018
On May 21,2018, The Ministry of Commerce and Industry announced the commencement of the 5th Cambodia, Laos PDR, Myanmar, Vietnam (CLMV) countries conclave held at Phnom Penh, Cambodia on 21-22 May 2018.
Objectives:
The two day conclave will consist of sectoral sessions,country sessions and business to business meetings.
Key points:
i. The conclave focused on agricultureagri-businessfarm equipment, Health care, ICTEducation, SkillingManufacturing, SMEs etc.
ii. The conclave was inaugurated by Union minister of Commerce and Industry Shri. Suresh Prabhu and the Prime Minister of Cambodia Hun Sen.
iii. The governments and private sector of the five countries would consider using PPP (Public Private Partnership) form and studying goods production under“Made in I-CLMV” logo for regional and global markets.
♦ Vietnam:
Capital: Hanoi
♦ Laos:
Capital: Vientiane
♦ Myanmar:
Capital: Naypyidaw.

BANKING & FINANCE

Bank credit grows at 12.64%, deposits at 7.61%
On May 24,2018, Reserve Bank of India announced that banks’ credit grew at 12.64% and deposits at 7.61% as on May 11,2018 data.Growth in bank deposits falls to five-decade lowKey points:
i. Credit grew by 12.64 percent year-on-year to Rs 85,51,099 crore in the fortnight ending in May 11, 2018 compared to the fortnight ending in May 12, 2017, banks’ advances stood at Rs 75,90,941 crore.
ii. April 27, 2018, bank credit had increased by 12.61 percent to Rs 85,38,570 crore,from Rs. 75,82,391 crore in the period ended April 28, 2017.
iii. Loans to agriculture and allied activities increased by 3.8 percent in March 2018, against an increase of 12.4 percent in March 2017.
iv. Advances to industry grew by 0.7 percent in March 2018, compared with a contraction of 1.9 percent in March 2017.
v. Banks’ deposits grew by 7.61 percent to Rs 1,13,92,165 crore in the fortnight ending in May 11, 2018, compared with Rs 1,05,86,083 crore in the fortnight ending in May 12, 2017, the data by Reserve Bank of India (RBI) showed.
RBI:
Current 24th governor : Urjit Patel.

BUSINESS & ECONOMY

NITI Aayog, ABB India sign pact to benefit India from AI, robotics
On May 24,2018, NITI Aayog and ABB India signed a Statement of Intent (SOI) to benefit India from AI and Robotics.
Objective of the SoI:
To work together in preparing key sectors of the economy for digitalisation, artificial intelligence (AI) robotics, and industrial automation and the fast growing segment of electric mobility.
Key Points :
i. The first workshop for senior government officials under this collaboration would be organised in June in Bengaluru.
ii. The workshop will focus on digital and automation technologies for the food processing sector
iii. Based on the interactions between NITI Aayog and ABB , recommendations to the government ministries will be provided for guidelines and policies for development.
About ABB India :
It is an electrical equipment manufacturer headquartered in West Bengal .

AWARDS & RECOGNITIONS

Julia Louis-Dreyfus to be awarded Mark Twain prize
On May 24,2018, Actress and Comedian Julia Louis-Dreyfus will be awarded annual Mark Twain award for American Humor from John F. Kennedy Centre of Performing Arts.Mark Twain Prizei. Mark Twain himself will be presenting this award to her.
ii. Julia will be receiving the award on 21 October in a ceremony at Washington .
iii. Past winners of the award include Richard Pryor, Tina Fey, Will Ferrell, Lily Tomlin and Eddie Murphy. Bill Cosby was given the award in 2009.

CSIR bags the Clarivate Analytics India Innovation Award 2018 in the Government Research Organizations Category
Council of Scientific & Industrial Research (CSIR) has received the Clarivate Analytics India Innovation Award 2018 in the Government Research Organizations Category.
CSIR – Clarivate Analytics India Innovation Award 2018:
i. Every year, Clarivate Analytics honours the most innovative companies in India based on patent-related metrics.
ii. Clarivate Analytics was formerly the IP & Science division of Thomson Reuters. The factors considered for selection are metrics for both patent volume (patents published) and patent quality (grant success rate, extent of globalization, and citations).
iii. As per to the SCImago Institutions Ranking World Report 2017, CSIR was ranked 9th in the world among 1207 government institutions. It scored an overall rank of 75 in the world.
About Council of Scientific & Industrial Research (CSIR):
♦ Director General – Dr. Girish Sahni
♦ Headquarters – New Delhi

Nari Shakti Puraskar conferred to all six members of INSV Tarini team
On 24th May 2018, Union Minister for Women and Child Development, Maneka Sanjay Gandhi presented the Nari Shakti Puraskar 2017 to the members of the INSV Tarini team in New Delhi.INSV Tarini teamNari Shakti Puraskar 2017:
i. INSV Tarini team is an all-women team consisting of 6 members: Lt Commander Vartika Joshi, Lt Commander Pratibha Jamwal, Lt Commander Swathi Patarpalli, Lt Aishwarya Bodapatti, Lt SH Vi jaya Devi and Lt Payal Gupta.
ii. President Ram Nath Kovind presented the Nari Shakti Puraskars on International Women’s Day (8th March 2018) in Rashtrapati Bhavan.
iii. Since the INSV Tarini team was sailing at that time, the award has been presented now.
iv.T his crew is a part of the Indian Navy’s ‘Navika SagarParikrama’. The all-women team circumnavigated the globe recently.

APPOINTMENTS & RESIGNS

Airtel Payments Bank appoints Anubrata Biswas as MD & CEO
On 24th May 2018, Airtel Payments Bank appointed Anubrata Biswas as its Managing Director and Chief Executive Officer.Anubrat Biswas
Anubrata Biswas – MD & CEO of Airtel Payments Bank:
i. Anubrata Biswas has succeeded Shashi Arora as MD & CEO of Airtel Payments Bank. Shashi Arora resigned in December 2017 after the e-KYC controversy.
ii. Earlier, Anubrata Biswas was Joint General Manager and Retail Business Head – South India for ICICI Bank

Mahender Singh Kanyal appointed as the next Ambassador of India to the Republic of Suriname
On May 23,2018, The  Ministry of External Affairs announced the appointment of Mahendra Singh Kanyal as the next Ambassador of India to the Republic of Suriname.
Key points:
i. Shri Mahender Singh Kanyal (YOA:2003), presently Director at Headquarters, has been appointed as the next Ambassador of India to the Republic of Suriname.
ii. He is expected to take up the assignment shortly.
Suriname:
Capital: Paramaribo.
Currency: Surinamese Dollar.

Pradeep Kumar Gupta concurrently accredited as the next Ambassador of India to the lslamic Republic of Mauritania
On May 23,2018, The  Ministry of External Affairs announced the appointment of Pradeep kumar Gupta as the next Ambassador of India to the Islamic Republic of Mauritiana.Pradeep Kumar GuptaKey Points:
i. Shri Pradeep Kumar Gupta, (YOA : 2004), presently Ambassador of lndia to Republic of Mali,has been concurrently accredited as the Ambassador of lndia to the lslamic Republic of Mauritania with residence in Bamako (Mali).
ii. He is expected to take up his assignment shortly.
Mauritiana:
Capital: Nouakchott.
Currency: Ouguiya (MRO).

Govt appoints non-executive chairpersons at 3 PSBs
On May 24,2018, The Finance Ministry appointed non-executive chairpersons in 3 PSBs.
Key Points:
i. The Banks are : Punjab and Sindh Bank, Dena Bank, Central Bank of India.
ii. These appointments have been done on recommendations for the Banks Board Bureau (BBB).
iii. The appointments are : Charan Singh as chairperson of Punjab and Sindh Bank, Anjali Bansal as Chairperson of Dena Bank  and Tapan Ray as chairperson of Central Bank of India.
iv. Charan Singh has served at IMF as senior economist and at Reserve Bank of India as director.
v. Anjali Bansal is founder of Spencer Stuart’s India and had worked with McKinsey and Company
vi. Tapan Ray has served as Secretaryin the Ministry of Corporate Affairs.
♦ Dena Bank :
Tagline : Trusted Family Bank .
♦ Punjab & Sindh Bank:
Tagline: Where Service is a way of Life .
♦ Central Bank of India:
Tagline: Central to you since 1911.

SCIENCE & TECHNOLOGY

UNICEF launches data visualisation app
On 24th May 2018, the UNICEF released a data visualisation app that offers user-friendly visual representation of complex analytics of the education scenario in the country.
UNICEF launches data visualisation app:
i. The app has been developed with technical inputs from the UNICEF, along with the National Institute of Education Planning and Administration (NIEPA) and the National Council for Educational Research and Training (NCERT).
ii. It makes use of the UDISE (Unified District Information System for Education), the NAS (National Assessment survey) and demographic data.
iii. It can be used as a visual tool by policy makers, senior government officials, academia, and researchers to monitor programs in the education sector.
iv. Yasmin Ali Haque is the UNICEF (United Nations Children’s Fund) Representative in India.

SPORTS

Munich Grand Prix: Tejaswini strikes gold
On 23rd May 2018, Tejaswini Sawant won gold medal in the 50m rifle prone event in the Grand Prix in Munich.TejaswiniMunich Grand Prix: Tejaswini strikes gold:
i. India’s Tejaswini Sawant shot 621.4 and won gold in the 50m rifle prone event. Another Indian Anjum Moudgil scored 0.2 point lesser and won the silver medal. Austria’s Olivia Hofmann finished in the third place.
ii. In the men’s 50m rifle prone event, India’s Chain Singh won the silver medal. United States’ Matthew Emmons won the gold medal. Oleh Tsarkov of Ukraine finished in the third place.
About National Rifle Association of India (NRAI):
♦ President – Raninder Singh
♦ Headquarters – New Delhi

IMPORTANT DAYS

Commonwealth Day 2018 – May 24
On 24th May 2018, Commonwealth Day 2018 was observed in India.Commonwealth Day 2018
Commonwealth Day 2018:
i. Commonwealth Day was earlier known as Empire Day. It is an annual celebration of the Commonwealth of Nations.
ii. It is celebrated on the second Monday in March in many countries. In India it is celebrated on 24th May.
iii. The theme for Commonwealth Day 2018 is: ‘Towards a Common Future’.
About Commonwealth of Nations:
♦ Secretary-General – Patricia Scotland
♦ Member states – 53 states