Daily Current Affairs- 17th May 2024

Daily Current Affairs- 17th May 2024

OBITURY

Padma Shri awardee writer Malti Joshi dies at the age of 90 years

• Noted storyteller and Padma Shri awardee Malti Joshi passed away at the age of 90 years at her residence in New Delhi on 15 May 2024. She was suffering from oesophagus cancer. Malti Joshi was known for her work in Hindi and Marathi language. She was awarded Padam Shri in 2018. 

IMPORTANT DAYS

World Hypertension Day

• The world observes 17 May as World Hypertension Day. The day is observed to raise public awareness about hypertension as a silent but deadly public health issue. Hypertension rarely causes any symptoms but can cause a high death rate as it increases the risk of heart attacks, stroke, renal failure, and other end-organ damage.
• World Hypertension League selects a theme for the World Hypertension Day, The theme for 2024 World Hypertension Day is "Measure Your Blood Pressure Accurately, Control It, Live Longer!" 

World Telecommunication and Information Society Day

• World Telecommunication Day is observed every year on 17 May. It marks the founding of ITU when the first International Telegraph Convention was signed in Paris on 17 May 1865. It is also known as World Telecommunication and International Society Day. Since 1969, it has been celebrated annually.
• The World Telecommunication and Information Society Day (WTISD) will be celebrated with the theme 'Digital Innovation for Sustainable Development. 

APPOINTMENT & RESIGNATION

Senior IPS Officers A.Y.V. Krishna & N. Venu Gopal Appointed as Additional Directors in CBI

• Senior IPS officers A Y V Krishna and N Venu Gopal have been appointed as additional directors in the Central Bureau of Investigation (CBI). Krishna, a 1995-batch Indian Police Service (IPS) officer of Assam-Meghalaya cadre, is currently working as Inspector General in the Central Reserve Police Force (CRPF).
• He has been inducted as the additional director of CBI for a tenure up to August 6, 2028, an order issued by the Personnel Ministry said, Krishna's batchmate Venu Gopal (Himachal Pradesh cadre) is presently working as joint director in the CBI. 

Kapil Sibal Elected as the President of Supreme Court Bar Association

• Senior Advocate Kapil Sibal has won the election for the President post of the Supreme Court Bar Association (SCBA). Kapil Sibal secured 1,066 votes and defeated his nearest rival and senior advocate Pradeep Rai.
• This is the fourth time, Kapil Sibal will serve as the president of the SCBA. Sibal had announced his candidature for for the post of Supreme Court Bar Association (SCBA) president on May 8. 

SUMMIT'S & MOU's

ReNew and Societe Generale ink MoU to provide up to $1-b financing for energy transition projects

• ReNew has signed a Memorandum of Understanding (MoU) with Societe Generale for providing up to $1 billion financing for development of energy transition projects both in India and overseas.
• Both parties will help strengthen the collaboration on utility-scale energy projects including solar, wind, complex renewables and green hydrogen. They will leverage respective capabilities in energy storage and solar modules manufacturing. As a key milestone towards aspiration in India and worldwide, 

3rd EPG meeting of BIMSTEC held In Dhaka, Bangladesh

• The third meeting of the Eminent Persons’ Group (EPG) on the future direction of   BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) was held on 12 and 13 May 2024 at the BIMSTEC Secretariat in Dhaka, Bangladesh. The meeting was chaired by Dr. Soonthorn Chaiyindeepum of Thailand, as Thailand is the current chairman of BIMSTEC.
• The EPG comprises eminent personalities from all seven BIMSTEC members: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. It was set up to prepare a roadmap for BIMSTEC's future. 

BANKING AND ECONOMY

ADB approves USD 148 mn loan to improve power supply in Sikkim

• Asian Development Bank ADB has approved a USD 148.5 million loan to help modernise and enhance the reliability, quality and resilience of electricity supply in Sikkim. This project fully supports Sikkims Power for All initiative, ensuring round-the-clock uninterrupted access to quality electricity for households, industries, businesses, and the public.
• The project will modernise Sikkim’s power distribution system by upgrading it with approximately 770 kilometres of climate-resilient medium-voltage underground and/or covered conductors, 

UN revises India’s 2024 GDP growth upwards to 6.9% from 6.2% projected in Jan

• The United Nations has revised India’s growth projections for 2024, and has projected the economy to expand by close to 7 per cent this year. The agency’s World Economic Situation and Prospects (WESP) report as of mid-2024, released on Thursday, stated that India’s economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025. 

Mahindra & Mahindra to invest ₹26,000 crore in automotive business in next 3years

• Expecting a surge in auto demand, Mahindra & Mahindra Ltd has announced plans to invest ₹26,000 crore in its automotive business over the next three years. Of this, ₹12000 crore will be invested in the electric vehicle unit Mahindra Electric Automobile Limited (MEAL).
• The investment will be made between FY25 and FY27 for developing new vehicles and building up capacity. M&M’s SUV business will get ₹8,500 crore investments, while commercial vehicles will get ₹4,000 crores. The company will also invest ₹5,000 crore in its farm equipment business.