Daily Current Affairs- 15th May 2024

Daily Current Affairs- 15th May 2024

INTERNATIONAL

Greenko ZeroC Partners with Norway’s Yara to Supply Renewable Ammonia

• Greenko ZeroC, the green ammonia production division of India’s AM Green, has finalized a significant agreement with Norway’s Yara Clean Ammonia, the leading global ammonia distributor, to supply renewable ammonia.
• This partnership is anchored in a term sheet that commits Greenko to deliver up to 50% of the renewable ammonia produced during the initial phase of its new facility in Kakinada, Andhra Pradesh. The project is an ambitious undertaking by AM Green, with plans to start by producing 1 million tonnes of green ammonia annually, scaling up to 5 million tonnes by 2030. 

NATIONAL

IndiaSkills 2024: Showcasing India’s Top Talent

• IndiaSkills Competition 2024, the nation’s largest skill event, is set to kick off in New Delhi. Organized by the Ministry of Skill Development and Entrepreneurship (MSDE), this event promises to highlight the best in skill development across the country. Over 900 students from 30 states and Union Territories, along with 400 industry experts, will participate in this grand event.
• Lasting four days, IndiaSkills will feature competitions in 61 skills, ranging from traditional crafts to modern technologies. While 47 competitions will be held onsite, 14 will take place offsite in states like Karnataka, Haryana, Uttar Pradesh, and Gujarat, ensuring access to top-notch infrastructure. Additionally, participants will engage in 9 exhibition skills such as Drone-Film making, Textile-Weaving, Leather-Shoemaking, and prosthetics-makeup. 

Special Commemorative Coin Released on MDL Shipyard 250th Anniversary

• Defence Secretary Giridhar Aramane released a commemorative Rs 250 coin on the occasion of the 250th anniversary of the foundation of Mazagaon Dock Limited (MDL).
• The defence secretary was the chief guest of the function, which was organised by the MDL in New Delhi on 14 May 2024 to mark the 250th anniversary of the MDL. 

Hero MotoCorp Becomes First Indian Two-Wheeler Company To Join ONDC Network

• Hero MotoCorp has become the first two-wheeler player in India to join the ONDC Network, bringing a host of its products to the platform. The company says joining the ONDC network will provide easy digital accessibility to customers. Hero MotoCorp will initially offer two-wheeler parts, accessories, and merchandise on the open network.
• Through ONDC’s buyer apps like Paytm and Mystore, customers gain access to Hero genuine parts with greater ease. This integration facilitates faster local deliveries, leveraging Hero MotoCorp’s extensive physical distribution network. Ultimately, the initiative aims to benefit over 115 million Hero customers nationwide, ushering in a new era of convenience and efficiency in two-wheeler retail. 

SAIL-Bhilai to Set Up Chhattisgarh’s First 15-Mw Floating Solar Plant

• Bhilai Steel Plant (BSP), the Chhattisgarh-based arm of the state-run Steel Authority of India Limited (SAIL), will install the state's first 15-megawatt (MW) floating solar project in its Maroda-1 reservoir to improve its carbon footprint. The steel major is undertaking various projects to reduce carbon emissions, conserve energy, and promote renewable energy. 

SPORTS

Indian Gymnast Srishti Khandagale Wins Silver at Asian Championships

• In Trampoline, India’s Srishti Khandagale scripted history by becoming the first ever Indian to win a medal at the Asian Trampoline Gymnastics Championships. She clinched the silver medal in Women’s Individual Age group category at the 6th Asian Trampoline Gymnastics Championship held in Hong Kong, China.
• However, she did not qualify for the upcoming Paris Olympics, as she was competing in an age group event. Kazakhstan’s Dolgopolova secured the gold medal, while Hong Kong’s S Hung won the bronze. 

P Shyaamnikhil of Tamil Nadu becomes India’s 85th Grandmaster

• Tamil Nadu’s P Shyaamnikhil became India’s 85th chess Grandmaster (GM). The 31-year-old chess prodigy, who started his career at the age of eight, finally secured his third and final GM norms at the 2024 Dubai Police Masters Chess Tournament. R Vaishali was the 84th Indian GM.
• Before the start of the Dubai Police Master Chess Tournament, Shyaamnikhil needed just one win and eight draws to achieve the coveted GM title.
• Shyaamnikhil had accumulated the required 2500 ELO rating points and two GM norms in 2012 itself . But he had to wait further 12 years to get the mandatory third GM norm to be accorded GM status. He finally achieved the third GM norm in the Dubai Police Masters Chess Tournament. 

OBITURY

Birubala Rabha, activist who campaigned against witch hunting, passed Away

• Assam-based social activist Birubala Rabha, who campaigned against witch hunting in the state, died in Guwahati after battling with cancer.
• She was honoured with the Padma Shri award by the central government in 2021 and nominated for the Nobel Peace Prize in 2005. 

Alice Munro, Nobel Prize winner and ‘master of the short story,’ dies at 92

• Alice Munro, the Nobel Literature Prize winner best known for her mastery of short stories and depictions of womanhood in rural settings, has died in Ontario, Canada, at the age of 92. The news was confirmed to CNN “with great sadness” by a spokesperson at her publisher, Penguin Random House.
• Born in 1931 in Wingham, Ontario, Munro grew up on what she described as the “collapsing enterprise of a fox and mink farm, just beyond the most disreputable part of town” in a 1994 interview with “The Paris Review.” Amid familial struggles, Munro found an escape in reading as a child. Her early enthusiasm for renowned writers such as Emily Brontë, Charles Dickens, and Lucy Maud Montgomery, among others, reflected an appreciation for literature beyond her age. 

APPOINTMENS & RESIGNATIONS

IIFL Securities Appoints Nemkumar as Managing Director

• IIFL Securities Limited, a leading financial services house, said that it has appointed Mr. Nemkumar H, Whole-Time Director on the Board, as the Managing Director with effect from May 15, 2024 for a period of 5 years.
• R. Venkataraman is currently the Chairman and Managing Director of the company. His tenure as Managing Director is due to expire on May 14, 2024. Mr. Venkataraman has decided not to seek renewal of his term as Managing Director. However, Mr. Venkataraman shall continue as the Chairman & Non-Executive Director on the Board of the Company. The Board believes that the separation of the posts of Chairman and Managing Director is better aligned with good corporate governance standards.

 IMPORTANT DAYS

International Day of Families

• International Day of Families is observed every year on 15 May. The day highlights the importance of families. The UN focuses on some important issues that are central to the well-being of families across the world like health, education, children's rights, gender equality, work-family balance, and social inclusion among others.
• The theme for International Day of Families 2024 is “Families and Climate Change.” Climate change is a pressing issue of our times. The changes in climate and weather patterns can have serious consequences to human life, leading to loss of livelihood and displacement of families. Climate change can lead to “economic disruption in industries sensitive to climate impacts such as agriculture and fisheries,” notes the UN. 

SUMMIT'S & MOU's

Maiden Indian Pavilion set up at the World Hydrogen Energy Summit

• India has set up its maiden pavilion at the World Hydrogen Summit and Exhibition 2024. The Pavilion was set up by the Union Ministry of New & Renewable Energy, and it was inaugurated by the Secretary of the Ministry of New and Renewable Energy, Bhupinder Singh Bhalla, on May 12, 2024.
• The World Hydrogen Summit 2024 is being held in Rotterdam, Netherlands, from 13-15 May 2024. The Summit is being attended by 15,000 delegates from around the world.

 BANKING AND ECONOMY

RBI Allows Quant Mutual Fund to Increase Stake in RBL Bank

• The Reserve Bank of India (RBI) has given permission to Quant Mutual Fund to raise its holding in RBL Bank to 9.98%. This means Quant can now buy more shares of RBL Bank through its various investment plans, increasing its overall ownership stake in the bank.
• Prior to this approval, Quant Mutual Fund, which manages different investment portfolios, held 4.68% of the total shares (equity capital) of RBL Bank, a private sector lender. With the RBI’s nod, Quant can now increase this ownership to nearly 10%.