Current Affairs 26 & 27 May 2024

We are here for you to provide the important Recent and Latest Current Affairs 26 & 27 May 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Kerala Topped Unemployment Rate; Delhi Recorded Lowest for Q4 FY24: PLFS SurveyMinistry of Statistics and Programme Implementation (MoSPI) released the latest Periodic Labour Force Survey (PLFS) for 15-29 year age group for January-March, 2024 Quarter for FY24(2023-24). As per PLFS, Kerala topped youth unemployment rate among 15-29 age group at 31.8% for Q4 (Jan-March) FY24.
Key Points:
i.While, Delhi registered the lowest unemployment rate among 15-29 age group at 3.1% for Q4 FY24, followed by Gujarat(9%), Haryana (9.5%), among others.
ii.The data showed that unemployment rate for 15-29 age group has increased from 16.5% (October-December, 2023) to 17% (January-March,2024).
iii.Jammu & Kashmir (J&K) registered the highest unemployment rate for women at 48.6% for Q4 FY24.
About Ministry of Statistics and Programme Implementation (MoSPI):
Minister of State (Independent Charge) – Rao Inderjit Singh (Constituency- Gurugram, Haryana)
Headquarters- New Delhi, Delhi
>> Read Full News

MHA Constituted High-Powered Committee to Tackle Increasing Cybercrimes Originating From SE Asian RegionOn 16th May 2024, Ministry of Home Affairs (MHA) constituted a inter-ministerial committee of various law enforcement and intelligence agencies to tackle the increasing organised cybercrimes originating from South-East (SE) Asian countries like: Cambodia, Myanmar and Laos PDR.

• SE Asian region accounted for 45% of cyber financial frauds taking place in India.

About the Committee:
i.The high-powered committee is chaired by VSK Kaumudi, Special Secretary (internal security) in the Ministry of Home Affairs (MHA).
ii.Other members in the committee are officers from Reserve Bank of India (RBI), Department of Financial Services, Banks, Financial Intelligence Unit (FIU), Department of Telecommunication (DoT) and financial technology companies, among others as its members.
iii.Indian Cybercrime Coordination Centre (I4C) which works under the Cyber and Information Security Division, MHA has been mandated to tackle increasing cybercrimes and its related attacks in India in a coordinated and comprehensive manner.
Key Statistics about CyberCrime in India:
i.Around 3.25 lakh “mule” accounts have been frozen over the last 4 months.
Note: Mule accounts are those accounts which are used for laundering cybercrime funds by using Know Your Customer (KYC), and others.
ii.Since July 2023, I4C removed over 3000 Uniform Resource Locator (URLs), 595 mobile phone apps have been blocked,  5.3 lakh SIM cards and 80,848 IMEI(International Mobile Equipment Identity) numbers have been removed.
iii.In last few months, around Rs 7000 crore reported to have been lost in cybercrimes.
iv.Around 4600 complaints have been reported related to digital arrest from January-April, 2024.

• Digital arrest means in which a person impersonates a government official.

About Indian Cybercrime Coordination Centre (I4C):
i.It is an initiative of MHA, Government of India (GoI), to provide a framework and ecosystem for Law Enforcement Agencies (LEAs) for tackling the cybercrimes in a coordinated and comprehensive manner.
ii.Indian Cybercrime Coordination Centre scheme was approved on 5th October, 2018.
iii.It was launched on 10th January, 2020 in New Delhi, Delhi.
Chief Executive Officer (CEO) – Rajesh Kumar
About Ministry of Home Affairs(MHA):
Union Minister- Amit Shah (Lok Sabha Constituency- Gandhinagar, Gujarat)

CDS Gen Anil Chauhan Attends ‘Ex Cyber Suraksha 2024’ For Advancing Cyber Defence Capabilities
On May 22 2024, the Chief of Defence Staff (CDS) Gen Anil Chauhan attended ‘Exercise Cyber Suraksha 2024’, highlighting the critical importance of enhancing India’s cyber defence capabilities.

• The exercise has been conducted by the Defence Cyber Agency from 20th to 24th May 2024 in New Delhi (Delhi), aiming to develop Cyber Defence Capability of all Cyber security organisations and promote cooperation amongst all stakeholders.
• It also focuses on enhancing collaboration and integration among participants from various military and major national organisations.

Note: Exercise Cyber Suraksha 2024 intends to empower participants by improving their cyber defence skills, techniques, and capabilities; sharing best practices; and working toward a unified and comprehensive cyber defence posture.

INTERNATIONAL AFFAIRS

WSJ Report: Indian-Origin Nikesh Arora Became the 2nd Highest-Paid CEO in the US for 2023According to the Wall Street Journal (WSJ)’s list of the highest-paid Chief Executive Officers (CEOs) in the United States of America (USA) for 2023. Indian-origin Nikesh Arora, chairman and CEO of Palo Alto Networks became the world’s 2nd highest-paid CEO in 2023 with a substantial remuneration of USD 151.43 million (approximately Rs 1,260 crore).

• Hock E. Tan, President and CEO of Broadcom Inc., is the world’s highest-paid CEO with a pay package of USD 161.83 million in 2023.
• Stephen A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone, secured the 3rd spot with a package of USD 119.78 million in 2023.

Analysis of CEO Compensation:
i.WSJ’s analysis ranked 415 CEOs of S&P 500 companies, by their total compensation, which included cash and equity awards.
ii.CEO compensation rose year-over-year (y-o-y), with the median amount increasing by more than 8% to USD 15.7 million in 2023.
Note: The S&P 500 saw significant growth, jumping nearly 12% from the start of the year and over 26% over the past 12 months.
Top 5 Highest-Paid CEOs:

Note:
i.The S&P 500, formally known as the Standard & Poor’s 500 Composite Stock Price Index, is a stock index that tracks the share prices of 500 of the largest public companies in the US.
ii.It is a vital benchmark for tracking the performance of the US stock market.
About Nikesh Arora:
i.He joined as chairman and CEO of Palo Alto Networks in June 2018.
ii.Before that, he was President and Chief Operating Officer (COO) of SoftBank Group Corp from 2014-2016.
iii.He also held various roles at Google from 2004 to 2014.
Highlights of the List:
i.Tech giants like Tesla’s Elon Musk and Alphabet’s (the holding company of Google) Sundar Pichai (Indian-born) opted for non-traditional compensation structures in 2023.

• Elon Musk received no reported compensation; Sundar Pichai earned USD 8.80 million
• Mark Zuckerberg of Meta earned USD 24.40 million,

ii.17 executives of Indian descent featured among the top 500 earners in the US.
iii.Shantanu Narayen, Chair and CEO of Adobe closely follows Arora, ranking 11th with a total compensation of USD 44.93 million in earnings.

• He is the second-highest-paid Indian-descent CEO in the list

iv.Ranked third, fourth, and fifth among Indian-origin Americans were Sanjay Malhotra of Micron Technology (63rd, $25.28 million), Ajei Gopal of Ansys (66th, $24.63 million), and Reshma Kewalramani of Vertex Pharmaceuticals (118th, $20.59 million).
v.The WSJ report also highlighted the achievements of Indian-descent leaders across various industries like Arvind Krishna (IBM), Badrinarayanan Kothandaraman (Enphase Energy), and Sanjiv Lamba (Linde).

BANKING & FINANCE

SEBI Amends Framework for Dynamic Price Bands for Scrips in Derivatives SegmentThe market regulator Securities and Exchange Board of India (SEBI) has amended its guidelines on dynamic price bands for scrips in the derivatives segment in order to improve uncertainty in management and reduce information disproportion.
Key Points of the amended framework:
i.In the present scenario, cash market and futures contracts begin with a price band at 10 per cent of the previous day’s closing price, which can be altered by 5 per cent during the day if there are at least 25 trades involving 5 unique client codes (UCCs) on each side at or above 9.90 per cent. Each adjustment follows a 15-minute cooling-off during which trading continues within the current band.
ii. The price band for the scrip and all its futures contracts on any exchange shall be adjusted after a cooling off period, provided that conditions are met in either cash market or current month contract at any exchange.
iii.In order to tackle the inconsistency, SEBI will increase the cooling off period of 15 minutes and would decrease the flexing per cent of 5 per cent in a calculated manner.
Note:The circular would be implemented by stock exchanges in a phased manner starting from June 3,2024.
>> Read Full News

ECONOMY & BUSINESS

BSE: Market Capitalisation to GDP Ratio Records 15-year High of 140.2%According to the Bombay Stock Exchange (BSE) data, India’s market capitalization to Gross Domestic Product ratio (mcap-to-GDP) has recorded growth of 15-year high of 140.2%. This increase is significantly higher compared to 95.8% at the end of March 2023.
Key Points:
i.On21st May 2024, total mcap of the 4,357 companies available for trading on the BSE reached Rs 414.46 trillion or USD 5trillion as against India’s GDP at current prices of Rs 296.6 trillion in FY24.
ii.The total mcap of India’s top 30 listed companies that are part of S&P BSE Sensex increased to 27.2% at the end of March 2023.
About Bombay Stock Exchange (BSE):
It is an Indian stock exchange and also Asia’s first stock exchange established in 1875.
Chief Executive Officer (CEO)– Sundararaman Ramamurthy
Headquarters- Mumbai, Maharashtra
>> Read Full News

AWARDS & RECOGNITIONS

UP Rickshaw Driver Arti Won the UK’s Prestigious Royal Award In LondonArti(18), a rickshaw driver from Uttar Pradesh (UP) has won the prestigious Amal Clooney Women’s Empowerment Award at the Prince’s Trust Awards, an event that celebrates the achievements of young people from around the world in London, United Kingdom (UK).

• She has also met King Charles III at Buckingham Palace, London, UK, after winning the award.
• The award is given in recognition for her role in inspiring other young girls through her involvement in the Indian government’s Pink E-rickshaw initiative.

Note: Amal Clooney Women’s Empowerment Award was named after the famous English Barrister Amal Clooney.
About Pink E-Rickshaw Initiative:
i.Pink E-Rickshaw Initiative is an initiative which was launched as part of the Mission Shakti scheme by the Indian government.
ii.Under this initiative, the pink e-rickshaws with a subsidy were offered for female drivers.
iii.It aims to empower women and increase their access to income-generating opportunities throughout India.
iv.It increases employment opportunities for underprivileged women, especially widows and single mothers by improving their access to safe transportation, therefore boosting their mobility and independence.
Note: Arti was first introduced to the Pink E-Rickshaw program by the Indian government in July 2023 through Project Lehar, which was run in collaboration with Prince’s Trust International and the Aga Khan Foundation (AKF).
About Prince’s Trust International :
Prince’s Trust International (now King’s Trust International) was founded by King Charles, which supports young people across 20 countries through employment, education and enterprise programmes.

APPOINTMENTS & RESIGNATIONS

Former Cabinet Secretary Pradeep Kumar Sinha Appointed as Non-Executive Part-Time Chairman Of ICICI BankThe former Cabinet Secretary Pradeep Kumar Sinha has been appointed as the Non-Executive Part-time Chairman of ICICI Bank Limited.

• He will succeed Girish Chandra Chaturvedi who is set to retire from the post on 30th June 2024.
• He will take over the position with effect from July 1, 2024, for a three–year term as per Reserve Bank of India (RBI) approval.

Note: Pradeep Kumar Sinha has also been approved as an Additional Independent Director by the Board of Directors of ICICI Bank for a five-year term (2024 to 2029) during the meeting held from February 15-17, 2024.
About Pradeep Kumar Sinha:
i.Pradeep Kumar Sinha was a 1977 batch  Indian Administrative Service (IAS) officer from Uttar Pradesh (UP) Cadre.
ii.He has been a Government Nominee Director in major Public Sector Undertakings (PSUs) like Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL), Gas Authority Of India Limited (GAIL).
iii.He has served as a Cabinet Secretary of India from 2015 to 2019.
iv.He has also served as a Principal Advisor to the Prime Minister (PM) Narendra Modi from 2019 to 2021.
v.He has also served as an Additional Independent Director in Bharti Airtel Limited from 2022 to May 14 2024.
About ICICI Bank Limited:
Managing Director and Chief Executive Officer (MD & CEO) – Sandeep Bakhshi
Headquarters – Mumbai, Maharashtra
Established – 1994
Tagline – Hum Hai Na, Khayal Apka

Shahid Afridi Joins Yuvraj Singh, Chris Gayle As Tournament Ambassador For ICC Men’s T20 World Cup 2024
Shahid Afridi, Pakistan cricketer has been named as a Tournament ambassador for the International Cricket Council (ICC) Men’s T20 World Cup 2024 which will take place in the United States of America (USA) and West Indies from 1 to 29 June, 2024.

• He has joined Chris Gayle, Yuvraj Singh and Usain Bolt in the list of ambassadors.
• He has won the Player of the Match award after Pakistan beat Sri Lanka in the final of the 2009 T20 World Cup held in London, United Kingdom (UK).
• He was also the Player of the Tournament of the inaugural T20 World Cup held in South Africa in 2007.

SCIENCE & TECHNOLOGY

IAF Conducted Night Vision Goggles-aided Landing of C-130J Aircraft in Eastern Sector
Indian Air Force (IAF)’s C-130J Super Hercules tactical transport aircraft successfully carried out a Night Vision Goggles(NVG)-aided landing at the Kargil airstrip, Advanced Landing Ground (ALG) in the Eastern sector(close to the Line of Control (LoC) with Pakistan).

• The IAF has for the first time landed an aircraft using NVG. C-130J was manufactured by Lockheed Martin.
• This will enable IAF to conduct safer and more effective operations in low-light conditions. Thus, it will enhance the capability of IAF to conduct night-time operations.

Note:
i.Kargil ALG is located at an altitude of around 10,000 feet and is a restricted airstrip with unidirectional approach surrounded by rough terrain. This is the only airstrip in this area becoming critical for any exigency.
ii.IAF’s C-130J is a medium-sized, all-weather transport aircraft capable of inter-theatre and intra-theatre airlift operations.

SPORTS

Asian Relay Championships 2024 – Indian mixed 4x400m team wins gold and men’s and women’s 4x400m teams win silver medalsThe India’s mixed 4×400 relay team has set a national record by winning a gold medal at the inaugural edition of Asian Relay Championships 2024 while the men’s and women’s 4×400 teams secured silver medals.

• The first Asian Relay Championship was held from 20th May to 21st May 2024 in Bangkok, Thailand.

Key Highlights of the Championship:
Mixed Relay Team:
i.The Indian team of Muhammed Ajmal, Jyothika Sri Dandi, Amoj Jacob and Subha Venkatesan won the gold medal and finished the race in 3 minutes(m):14.12Seconds(s).
ii.Sri Lanka clocked 3m:17.00s to clinch the silver medal while Vietnam with 3m:18.45s. bagged the bronze medal.
Men’s Relay Team:
i.The men’s team was represented by Muhammed Anas Yahiya, T Santosh Kumar, Mijo Chacko Kurian, and Arokia Rajiv clocked 3m:05.76s and bagged the silver medal behind Sri Lanka(3m:04.48s) winning the gold medal while Vietnam(3m:07.37s) settled with the bronze medal.
Women’s Relay Team:
i.The Indian women’s 4×400 meters relay team comprise of Vithya Ramraj, MR Poovamma, Rupal and Prachi Choudhary clocked 3 minutes 33.55 seconds to win the silver medal
ii.The Vietnamese team (3m:30.81s) bagged the gold medal while the Japanese team (3m:35.45s) clinched the bronze medal respectively.
Note: The Indian men’s and women’s relay team have qualified for the Paris Olympics 2024.
About Asian Relay Championship 2024:
i.The first Asian Relay Championships is the inaugural edition which was held in Bangkok, Thailand, on 20 and 21 May 2024.
ii.It also offered an opportunity to Asian athletes to qualify for the 2024 Paris Summer Olympics starting 26 July 2024.

IOC Launched “Let’s Move India” Campaign to inspire people to celebrate Athletes at Paris Olympics
The International Olympic Committee (IOC) in partnership with Reliance Foundation and Abhinav Bindra Foundation has launched “Let’s Move India” campaign, inviting everyone to embrace the joy of movement and to celebrate athletes participating at the 2024 Olympic Games scheduled to be held in Paris, France.

• People will be invited from across the country to join the campaign through digital challenge on social media.
• The initiative was unveiled on Viacom18’s JioCinema, the official Media Rights-Holder of the Olympic Games Paris 2024 in India.
• Young people can also take part in a series of regional school initiatives in collaboration with the Reliance Foundation and Abhinav Bindra Foundation to coincide with the International Olympic Day 2024 (23rd June 2024).

About International Olympic Committee (IOC):
President– Thomas Bach
Headquarters– Lausanne, Switzerland
Established in– 1894

IMPORTANT DAYS

First-Ever UN World Football Day – 25 May 2024The first-ever United Nations (UN)’s World Football Day was observed across the globe on 25th May 2024 to acknowledge the global reach of football and its impact across various spheres, including commerce, peace, and diplomacy.

• World Football Day recognises football’s unique ability to create spaces for cooperation and connection worldwide.
• 25th May 2024 marks the 100th anniversary of the 1924 Olympic Football Tournament held in Paris, France.

Background:
i.On 7th May 2024, the United Nations General Assembly (UNGA) adopted the resolution A/RES/78/281, proclaiming the 25th May of every year as World Football Day.
ii.The resolution was initiated by Bahrain, Libya and Tajikistan and was subsequently unanimously adopted by 170 nations at the UNGA.
About Fédération Internationale de Football Association (FIFA)
Secretary General– Fatma Samba Diouf Samoura
President– Gianni Infantino
Headquarters– Zürich, Switzerland
Established on– 21st May 1904
>> Read Full News

International Day of Missing Children 2024 – May 25 International Day of Missing Children or International Missing Children’s Day (IMCD) is annually observed across the globe on 25 May to commemorate the missing children, including those who have subsequently been found, and to raise awareness about the issue of missing children.

• This Day is now widely known as Missing Children’s Day, with the “forget-me-not flower” as its emblem.

Background:
In 1983, the then United States (US) President Ronald Reagan proclaimed May 25th “National Missing Children’s Day” in the US.
International Recognition:
i.In 2001, May 25th was formally recognised as 1st ever International Missing Children’s Day (IMCD).
ii.Efforts by the Global Missing Children’s Network (GMCN), Missing Children Europe, the International Centre for Missing and Exploited Children (ICMEC), and the European Commission contributed to its establishment.
>> Read Full News

World Thyroid Day 2024 – May 25 World Thyroid Day (WTD) is annually observed across the globe on 25 May to raise awareness about the significance of the thyroid gland, a vital endocrine (hormone-producing) gland, and to educate people on thyroid diseases and their symptoms.

• WTD forms part of International Thyroid Awareness Week (ITAW) (25-31 May 2024), supported by the global, non-profit network of patient organisations known as Thyroid Federation International (TFI).

The theme of the ITAW-WTD 2024 is “Non-Communicable Diseases (NCDs)“.

• The Blue Paisley Ribbons are used as the symbol for Thyroid Awareness.

Background:
i.In March 2008, the European Thyroid Association (ETA) announced the 1st “European Thyroid Day” on 25 May 2008.
ii.WTD was established in 2008 as part of a campaign led by the ETA and the American Thyroid Association (ATA) to emphasise the prevalence of thyroid diseases.
About European Thyroid Association (ETA):
President– Laura Fugazzola (Italy)
Headquarters– Altdorf, Germany
>> Read Full News

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