15th May, 2024

1. The Ministry of labor and employment has boarded the PM Gati Shakti portal to identify and bridge gaps in social security coverage across the country.
2. According to a recent study by Intel and the International Data Corporation (IDC), India’s AI spending is projected to triple, reaching $5 billion by 2027 from $1,703.8 million in 2023.
3. The Indian Air Force (IAF) has been actively assisting the Uttarakhand in combating the forest fires.
4. Uttarakhand Government Launches ‘Pirul Lao-Paise Pao’ Campaign
5. Venezuela is believed to be the first nation in modern times to have completely lost all of its glaciers.
6. The new coronavirus variant called KP.2, nicknamed FLiRT has recently been discovered by the researchers.
7. State Bank of India (SBI) has become the 1st Bank in India to act as Trading-cum-Clearing Member (TCM) at the India International Bullion Exchange IFSC Limited (IIBX) which is India’s 1st International Bullion Exchange in GIFT City.
8. Bajaj Finserv Asset Management Limited has launched the Bajaj Finserv Multi Asset Allocation Fund.
9. Tata Motors (TaMo) has overtaken Tata Consultancy Services (TCS) as the most profitable firm within the Tata Group after 10 years.
10. OpenAI (the company which has launched ChatGPT) has announced its latest artificial intelligence large language model “ GPT – 4o (o stands for Omni)” that it says will make ChatGPT smarter and easier to use.
11. The United Nations Office on Drugs and Crime (UNODC) has released the 3rd edition of its World Wildlife Crime Report titled ‘World Wildlife Crime Report 2024: Trafficking in Protected Species’
12. Manuscript of three Indian literary works namely Ramcharitmanas, Panchatantra and Sahrdayāloka-Locana have been included in Memory of the World (MOW) AsiaPacific Regional Register along with 17 other works globally (total 20 literary works were included)
13. International Sun Day
14. 12 May: International Nurses Day
15. . May 12: The United Nations (UN)’s International Day of Plant Health (IDPH)
16. The Olympic Gold-Medalist and World Champion javelin thrower Neeraj Chopra claimed the second spot in the Doha Diamond League 2024 that was held in Doha, Qatar.
17. The Five-time World Champion & World No. 1 Magnus Carlsen (from Norway)emerged as the winner of the 2024 Superbet Poland Rapid & Blitz, a part of World Chess Tour that was held in Warsaw, Poland.
18. Hyderabad-based Greenko has entered into an agreement with Norway’s Yara Clean Ammonia.
19. Croatian conservative leader Andrej Plenkovic was appointed as Prime Minister for a third consecutive term.
20. Global average concentration of carbon dioxide (CO2) was 4.7 parts per million (ppm) in March 2024 (higher than March 2023), signifying large spike in Keeling Curve.

National News

1. Ministry of Labour and Employment has boarded the PM Gati Shakti portal
   • What: The Ministry of labor and employment has boarded the PM Gati Shakti portal to identify and bridge gaps in social security coverage across the country.
   • Tell me more:
     • The idea is to leverage the infrastructure data available on the portal to extend social security coverage to workers engaged in existing and upcoming industrial clusters around these projects
     • It will also be ensuring availability of Employees’ State Insurance Corporation’s hospital and dispensary in the closest vicinity to these clusters.
     • the EPFO and ESIC are examining the 268 SEZs identified through the Gati Shakti platform to bring numerous workers under social security schemes.
       Source: Economic Times

2. India’s AI spend may touch $5 bn by 2027
   • What: According to a recent study by Intel and the International Data Corporation (IDC), India’s AI spending is projected to triple, reaching $5 billion by 2027 from $1,703.8 million in 2023.
   • This growth is driven by a Compound Annual Growth Rate (CAGR) of 31.5%
   • Tell me more:
     • The growth in AI spending is set to be the fastest among the eight markets surveyed, including Australia, India, Indonesia, Japan, South Korea, Malaysia, Singapore, and Taiwan.
     • Key sectors driving AI spending include Banking, Financial Services, and Insurance (BFSI), as well as manufacturing, especially electronics and consumer goods, which are crucial for India’s economic growth
       Source: Business Standard

State News

1. IAF Conducts Bambi Bucket Operations to Combat Forest Fires in Uttarakhand
   • What: The Indian Air Force (IAF) has been actively assisting the Uttarakhand in combating the forest fires.
   • In response to the raging fires in the Pauri Garhwal sector, the IAF provided much-needed relief by undertaking Bambi Bucket operations using its Mi17 V5 helicopters.
     Source: Indian Express
2. Uttarakhand Government Launches ‘Pirul Lao-Paise Pao’ Campaign

• What: Uttarakhand Government Launches ‘Pirul Lao-Paise Pao’ Campaign
• Why: To combat the forest fires and forest devastation.
• About Pirul Lao-Paise Pao campaign:
  • Under this campaign, the locals and youth will collect dry pirul (pine tree leaves) from the forest and transport it to designated collection centres.
  • They will receive a reward of Rs 50 per kilogram (kg), which will be deposited directly into their bank accounts.
  • It reduces the fire risk posed by Pirul in Pine forests and utilise them for productive purposes such as electricity generation.
    • Due to their high burning capacity, they constitute a serious fire threat in pine forests, hence collecting these leaves from the woodland region can lessen the risk of fires.
    • The Uttarakhand government has built a 25-kilowatt (KW) power plant in Uttarkashi district’s Chakori Dhanari village that generates electricity using Pirul as a raw material
      Source: ANI

  
  

International News

1. Venezuela may be the first nation to lose all its glaciers
   • What: Venezuela is believed to be the first nation in modern times to have completely lost all of its glaciers.
     • A glacier is an accumulation of ice and snow that slowly flows over land.

   • The country had six glaciers in the Sierra Nevada de Mérida mountain range, but by 2011, five of them had already disappeared.
   • The last remaining glacier, known as the Humboldt glacier (also called La Corona), was projected to last at least another decade.
     • However, The International Cryosphere Climate Initiative (ICCI), a scientific advocacy organisation, said the La Corona glacier was now too small to be considered as a glacier
       Source: BBC
     
     

   
   

2. New COVID variant: ‘FLiRT’
   • What: The new coronavirus variant called KP.2, nicknamed FLiRT has recently been discovered by the researchers.
   • The varient has been linked to rising cases of Covid-19 in the United States, United Kingdom, and South Korea.
   • However, it has been in circulation in India since November 2023, genomic surveillance data show.
     Source: Indian Express
   
   
   
   
   
   

Banking and Economy

1. State Bank of India has become the first trading-cum-clearing member at IIBX
   • What: State Bank of India (SBI) has become the 1st Bank in India to act as Trading-cum-Clearing Member (TCM) at the India International Bullion Exchange IFSC Limited (IIBX) which is India’s 1st International Bullion Exchange in GIFT City.
     • Bullion refers to gold and silver of high purity.
     • Trading and Clearing Member (TCM): This category of membership entitles a member to execute trades on his own account as well as solely on behalf of his clients and to clear and settle trades executed by themselves as well as by other trading members who choose to use clearing services of the members.
   • This enables SBI IBU Gift City to conduct trades on the IIBX platform and settle them on behalf of its clients.
   • Background:
     • The Reserve Bank of India (RBI) has permitted the branches of Indian Banks in GIFT-IFSC to act as a Trading Member (TM)/ Trading and Clearing Member (TCM) of IIBX.
     • It allowed the authorized Indian Banks to act as Special Category Clients (SCCs) to import Gold or Silver through IIBX.
       Source: The Hindu Business Line

     
     
   
   

2. Bajaj Finserv AMC Launches Bajaj Finserv Multi Asset Allocation Fund
   • What: Bajaj Finserv Asset Management Limited has launched the Bajaj Finserv Multi Asset Allocation Fund.
   • Minimum application amount during NFO is Rs. 500 and in multiples of Re. 1.
   • Investment strategy: The fund focuses on companies with a track record of high dividend payouts. This strategy not only offers potential growth but also indicates stable business models and accountable management.
     • It is India’s 1st Multi Asset Fund with a dividend yield strategy that aims to provide stability and growth by diversifying across asset classes.
       Source: Bajaj Finserv

3. Tata Motors overtakes TCS as group’s most profitable firm after 10 years
   • What:  Tata Motors (TaMo) has overtaken Tata Consultancy Services (TCS) as the most profitable firm within the Tata Group after 10 years.
     Source: Business Standard
4. OpenAI unveils newest AI model, GPT-4o
   • What: OpenAI (the company which has launched ChatGPT) has announced its latest artificial intelligence large language model “ GPT – 4o (o stands for Omni)” that it says will make ChatGPT smarter and easier to use.
   • The model will be available to unpaid customers, meaning anyone will have access to OpenAI’s most advanced technology through ChatGPT.
     Source: Open AI

Report and Indices

1. 3rd World Wildlife Crime Report 2024
   • What: The United Nations Office on Drugs and Crime (UNODC) has released the 3rd edition of its World Wildlife Crime Report titled ‘World Wildlife Crime Report 2024: Trafficking in Protected Species’
     • It highlights the persistent issue of illegal trafficking in plant and animal wildlife.

   • Tell me more:
     • Prepared by: Research and Trend Analysis Branch of the UNODC
     • Published in every four years
     • The study, published every four years, uses data from 2020-2021 to analyze the scope of illegal wildlife trade.
     • The first and second editions of the report were published in 2016 and 2020 respectively.
     • Key findings
       • During 2015-2021, rhinoceroses and cedars were most impacted animal and plant species respectively.
       • For seizures of animal species, there is gradual increase from 2015–2019 and then decline in 2020 and 2021.
       • For seizures of plant species, there is sharp increase in 2020 and 2021.
     • For the first time, an indicator on progress towards Sustainable Development Goal (SDG) target 15.7 was included to end trafficking of protected species of flora and fauna.
     • On positive front, trafficking of elephant ivory and rhinoceros horn elephant dropped.
     • Recommendations:
       • The report calls for improved enforcement and implementation of legislation, including anti-corruption measures, as wildlife crime, including the trafficking of rare plants and animals, has contributed to local or global extinctions.
         Source: UNODC

     
     
   
   

Awards

1. UNESCO adds Ramcharitmanas, Panchatantra to Memory of the World Asia-Pacific Register
   • What: Manuscript of three Indian literary works namely Ramcharitmanas, Panchatantra and Sahrdayāloka-Locana have been included in Memory of the World (MOW) AsiaPacific Regional Register along with 17 other works globally (total 20 literary works were included)
   • The decision was taken at the 10th meeting of the Memory of the World Committee for Asia and the Pacific (MOWCAP), held at Ulaanbaatar, Mongolia.
   • Tell me more:
     • About Literary Works
       • Ramcharitmanas: Written in the 16th Century by Goswami Tulsidas. An epic poem written in Awadhi language and consists of Seven Kāndas.
       • Panchatantra: Written by Pt. Vishnu Sharma in Sanskrit. One of the oldest collection of surviving Indian Fables.
       • Sahrdayāloka-Locana: Written by Acharya Anandvardhan in Sanskrit and is a
         text of Indian Poetics.
         Source: The Print

Important Days

1. May 3: International Sun Day
   • What: International Sun Day (also known as World Sun Day) is annually observed across the globe on 3rd May to raise awareness about the significant benefits of solar energy in fostering a greener and healthier planet and promoting eco-friendly energy.
     Source: National Day Today

2. 12 May: International Nurses Day
   • What: International Nurses Day (IND) is annually observed across the globe on 12th May to honour the contributions of nurses to society and recognise their role in the overall healthcare system.
   • IND commemorates the birth anniversary of a English nurse, social reformer, and statistician Florence Nightingale (also known as the founder of modern nursing).
   • Theme: “Our Nurses. Our Future. The economic power of care”.
   • Observed by: International Council of Nurses (ICN).
     Source: ICN
   
   
   
   

3. May 12: The United Nations (UN)’s International Day of Plant Health (IDPH)
   • What: The United Nations (UN)’s International Day of Plant Health (IDPH) is annually observed across the globe on 12 May
   • Why: To raise global awareness of the importance of protecting plant health to end hunger and reduce poverty, protect biodiversity and the environment, and boost economic development.
   • Theme: “Plant Health, Safe Trade, and Digital Technology”.
   • Organized by: Food and Agriculture Organization of the United Nations (FAO) in collaboration with the International Plant Protection Convention (IPPC).
     Source: FAO

   
   

Sports

1. Highlights of Doha Diamond League 2024
   • What: The Olympic Gold-Medalist and World Champion javelin thrower Neeraj Chopra claimed the second spot in the Doha Diamond League 2024 that was held in Doha, Qatar.
   • First position: Jakub Vadlejch from Czech Republic
   • Third position: Anderson Peters of Grenada
   • Also, India’s Kishore Jena, who claimed the silver medal at the Hangzhou 2022 Asian Games held in China in 2023, finished ninth in his Diamond League debut.
   • Note- The next men’s javelin Diamond League meeting will be held in Paris on July 7,2024.
     Source: Hindustan Times

2. World No. 1 Magnus Carlsen Wins Superbet Poland Rapid & Blitz
   • What: The Five-time World Champion & World No. 1 Magnus Carlsen (from Norway)emerged as the winner of the 2024 Superbet Poland Rapid & Blitz, a part of World Chess Tour that was held in Warsaw, Poland.
   • Results:

Source: Business Wire

Memorandum of Understanding

1. Hyderabad-based Greenko signs green ammonia supply pact with Norway’s Yara
   • What: Hyderabad-based Greenko has entered into an agreement with Norway’s Yara Clean Ammonia.
   • Why: Under this agreeement, Greenko will supply renewable ammonia to the Yara, which is the world’s largest trader and distributor of ammonia.
   • Greenko will supply green ammonia from Phase 1 of its ammonia production facility in Kakinada, India.
   • The plant will produce, and export renewable ammonia by 2027.
     Source: Business Standard

Appointments

1. Croatia: Plenkovic appointed as Prime Minister for third term
   • What: Croatian conservative leader Andrej Plenkovic was appointed as Prime Minister for a third consecutive term.
     Source: AP News

Miscellaneous

1. Keeling Curve
   • Global average concentration of carbon dioxide (CO2) was 4.7 parts per million (ppm) in March 2024 (higher than March 2023), signifying large spike in Keeling Curve.
   • It is the largest ever recorded leap in CO2 concentration at 425.22 ppm.
   • About Keeling Curve
     • It is the record of atmospheric CO2 from
     • Recorded by: Mauna Loa Observatory (MLO), since 1958.
     • MLO is a station that measures the elements in atmosphere that contribute to climate change.
     • It is located in Hawaii on the side of Mauna Loa, the world’s largest active volcano.
     • It is named after Dr. Charles David Keeling.

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