Daily Current Affairs and GK | 7 May 2024

Topic: Corporates/Companies

1. Bhavesh Gupta's resignation was announced by One 97 Communications (Paytm).

• Bhavesh Gupta was president and chief operating officer (COO) of the company.
• His resignation has been acknowledged by the company’s board.
• He will be relieved from his position on May 31, 2024.
• After May 31, 2024, he will still assist the company as an advisor in the chief executive officer (CEO) office.
• Varun Sridhar became the CEO of Paytm Services (PSPL), according to Paytm.
• Additionally, the company declared that Rakesh Singh has been named Paytm Money's CEO.
• Singh has previously served as CEO of Fisdom's stock broking division.
• Varun Sridhar, former CEO of Paytm Money, has currently become the CEO of PSPL.

Topic: Biotechnology and Diseases

2. FLiRT’s rapid spread in the United States is causing concern about a summer infection wave.

• FLiRT is a group of new Covid-19 variants from the Omicron JN.1 lineage. 
• KP.2 and KP 1.1 variants are thought to be more contagious than previous Omicron variants due to the additional mutations.
• In the US, the KP.2 has taken over the JN.1 variant. However, hospitalisations have not increased.
• Another FLiRT variant, KP.1.1, has been reported in the United States. But in contrast to KP.2, it is not as common.
• The acronym 'FLiRT' is based on the scientific terms for their mutations, according to the Infectious Disease Society of America.
• As of April 2024, KP.2 is responsible for about 25% of newly diagnosed COVID-19 cases.
• Comparing the FLiRT variations to earlier Omicron subvariants, KP.2 in particular seems to have more transmissibility.
• Indians got their immunity through diseases, so there's no need to worry about a fresh epidemic.
• In the US, mRNA vaccinations were widely administered and these were linked to immune system impairment.
• In India, FLiRT has not yet been identified. A sore throat, cough, exhaustion, nasal congestion, runny nose, headache, muscle aches, fever, and possible loss of taste or smell are some of its symptoms. 

Topic: Space and IT

3. ISRO achieved a significant milestone in the development of its semi-cryogenic engine.

• ISRO successfully tested pre-burner ignition for the development of its semi-cryogenic propulsion systems.
• The pre-burner ignition test article will support the Powerhead system of the semi-cryogenic engine. The ignition trial on the test article was held on May 2.
• Smooth and sustained ignition of the pre-burner is important for the starting of the engine.
• The trial was held at the cryo-integrated engine test facility at the ISRO Propulsion Complex (IPRC) in Mahendragiri, Tamil Nadu.
• What is a semi-cryogenic engine?
  • ISRO is developing a semi-cryogenic engine which works on a propellant combination of liquid oxygen and kerosene.
  • Its main aim is to increase the payload capability of launch vehicle Mk III (LVM3) and future launch vehicles.
  • A cryogenic rocket engine is a rocket engine that uses a cryogenic fuel and oxidizer.
  • Cryogenics is the study of the production and behaviour of materials at extremely low temperatures.

Topic: New Development

4. Mindgrove Technologies launched the first indigenously designed microcontroller chip.

• IIT Madras-incubated startup Mindgrove Technologies has launched the country's first commercial, high-performance SoC (system on chip). It has been named 'Secure IoT’.
• A microprocessor chip designed, owned, and marketed in India will be released in the market very soon. It will soon power smart electronic devices.
• The chip is likely to cost 30 per cent less than other chips in the same segment.
• Mindgrove Technologies has received the shipment of its first system-on-chip – Secure IOT – from Taiwan.
• A system-on-chip is used in the printed circuit board (PCB) and is like the brain of the device.
• This chip will help domestic original equipment manufacturers (OEMs) use an indigenous chip in their devices.
• Bhavesh Gupta's resignation, One 97 Communications, Paytm, FLiRT’s rapid spread in the United States.

Topic: International News

5. Jose Raul Mulino wins the presidential election of Panama.

• Panama’s former security minister Jose Raul Mulino is set to become Panama's President.
• Mulino said his government would be pro-investment and pro-business.
• Mulino was one of the favourites for the presidency after he replaced Martinelli.
• Mulino won 34.3% of the vote, followed by the lawyer Ricardo Lombana on 24.8% and former president Martín Torrijos on 16%.
• Mulino will take office on July 1 for a five-year term.
• Panama is facing an economic slowdown and expects growth of 2.5% in 2024.
• Panama:
  • It is a Central American country bordered by Costa Rica and Colombia.
  • Panama City is the capital and largest city of Panama.
  • Balboa and the United States dollar are the official currencies.

Topic: MoUs /Agreements

6. CAG of India and the Auditor General of Nepal signed a pact to increase collaboration in auditing.

• Girish Chandra Murmu, the Comptroller and Auditor General of India (CAG) and Toyam Raya, Auditor General of Nepal signed a MoU.
• The agreement's main aim is to enhance collaboration and exchange of expertise in the field of auditing.
• Through this MoU, a platform will be established for capacity development, knowledge exchange, and mutual assistance in conducting audits.
• This MoU will help in developing and strengthening professional capacity.
• The partnership between the SAIs of India and Nepal will enhance collaboration in training programs.

Topic: Sports

7. In the Madrid Open 2024, Iga Swiatek won the women's singles title on May 4.

• By defeating Aryna Sabalenka, World No. 1 Iga Swiatek won the thrilling final of the clay-court tournament for the first time.
• Sponsored by Matua, the 2024 Madrid Open was a professional tennis tournament held in Madrid, Spain from 23 April to 5 May 2024.
• It was the 15th edition of the WTA Tour and the 22nd edition of the event on the ATP Tour.
• Winners of the Madrid Open 2024:

Topic: Important Days

8. World Athletics Day 2024: 07 May

• Every year on 07 May, World Athletics Day is celebrated to make people aware of the importance of fitness.
• The theme for World Athletics Day 2024 is “World Mile Challenge”.
• World Athletics Day was for the first time celebrated in 1996.
• It was launched by Primo Nebiolo, best known as the former President of the World Athletics.
• World Athletics was known as the International Amateur Athletic Federation till 2001 and the International Association of Athletics Federations from 2001 to 2019.
• In 2019, the name was changed to World Athletics.
• World Athletics was founded in 1912 in Stockholm, Sweden. It is headquartered in Monaco.

Topic: Personality in News

9. 'Titanic' actor Bernard Hill passed away at the age of 79.

• The Veteran English actor was best known for his powerful performances in 'The Lord of the Rings trilogy and 'Titanic'.
• Hill's portrayal of King Theoden in 'The Lord of the Rings' left a lasting impression on audiences around the world.
• In James Cameron's Oscar-winning film, he also gave a stellar performance as Captain Edward Smith, the leader of the RMS Titanic.
• Spanning over five decades, Hill's career included a wide range of stage, television, and film roles.

Topic: Miscellaneous

10. On 5 May, UNICEF India has appointed Kareena Kapoor as its National Ambassador.

• Since 2014, Kareena Kapoor has been associated with UNICEF India and has worked on issues such as girls' education, gender equality, basic education, vaccination, and breastfeeding.
• As an ambassador, Kareena Kapoor Khan will support UNICEF India in advancing every child's right to early childhood development, health, education, and gender equality.
• In addition, she has been instrumental in several global campaigns for UNICEF on #EveryChildRights.
• At the same event, the appointment of its first Youth Advocates has also been announced by UNICEF India, who are peer leaders and champions on issues such as climate action, mental health, innovations, and girls in STEM.
• All four advocates, aged between 16 and 24, have specific areas of interest.
• Gauranshi Sharma from Madhya Pradesh is for right to play and disability inclusion and Kartik Verma from Uttar Pradesh is for climate action and child rights advocacy.
• Nahid Afrin from Assam is for mental health and early childhood development, and Vinisha Umashankar from Tamil Nadu is a budding innovator and STEM pioneer.

Topic: India and Its Neighbour

11. A new Rs 100 note depicting Indian territories will be issued by Nepal.

• Recently, the printing of a new Rs 100 note announced by Nepal, which has a map that includes the Indian territories of Lipulekh, Limpiyadhura, and Kalapani. India has opposed this move.
• In a meeting chaired by Nepali Prime Minister Pushpakamal Dahal Prachanda, the Council of Ministers decided to include the disputed areas in the new map of Nepal.
• The decision was taken following Nepal Rastra Bank's proposal to update the map on Rs 100 banknotes.
• During meetings held on April 25 and May 2, the redesign, with the updated map, was approved.
• Nepal Rastra Bank has been authorized by the government to replace the current map on currency notes with the updated version.
• Lipulekh, Kalapani, and Limpiyadhura were included in the November 2019 map of India.
• Tensions arose between India and Nepal in May 2020 after Nepal released a political map that included similar areas.

Topic: Corporates/Companies

12. RBI approved setting up REC Limited subsidiary in Gift City, Gujarat.

• The Reserve Bank of India (RBI) has provided a ‘No Objection Certificate' (NOC) to REC Ltd for setting up a subsidiary in Gujarat International Finance Tech-City (GIFT) city.
• REC Limited subsidiary will be involved in various financial activities, including lending, investment, and other financial services.
• The GIFT City will provide a conducive environment for international lending activities along with world-class infrastructure.
• REC Limited:
  • It was established in 1969 and focuses on power sector financing and development across India.
  • It provides financial assistance to state electricity boards, state governments, and central and state power utilities.
  • It is engaged in projects related to generation, transmission, distribution, and renewable energy.

Topic: Environment and Ecology

13. A newly discovered tardigrade species named after the Chandrayaan-3 mission.

• A new species of marine tardigrade has been discovered on the coast of Tamil Nadu.
• It has been named ‘Batillipes chandrayaani’ after the Chandrayaan-3 moon mission by researchers.
• Tardigrades are commonly known as ‘water bears’. These are microscopic marvels.
• It is the third marine tardigrade species that has been scientifically discovered in Indian waters and the second from the east coast.
• Marine tardigrades are found in oceans and account for 17% of all known tardigrade species.
• They have tiny physiques but are among the hardest animals and are highly regarded for their survival skills.
• It grows to a length of 0.15 millimetres and 0.04 millimetres in width.
• Batillipes chandrayaani is also the 39th species described under the genus Batillipes.