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Latest Current Affairs

Barbara Kingsolver and Hernan Diaz win Fiction Pulitzer Prize 2023

Barbara Kingsolver (American Novelist) and Hernan Diaz (Argentina Writer) were awarded the Pulitzer Prize 2023 in the fiction category.

Barbara Kingsolver was awarded for her novel 'Demon Copperhead' and Hernan Diaz won for his novel 'Trust'.

Other categories:

Drama: English, by Sanaz Toossi.

Biography: G-Man: J. Edgar Hoover and the Making of the American Century, by Beverly Gage (Viking).

Memoir or Autobiography: Stay True, by Hua Hsu (Doubleday).

Fitch lowered India’s GDP growth forecast to 6% for 2023-24

Fitch Ratings has predicted India's GDP growth forecast for 2023-24 to 6% from 6.2% and 6.7% in 2024-25.

Reason: Headwinds from elevated inflation, interest rates, and subdued global demand.

The rating firm has also reaffirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable Outlook.

‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate.

RBI imposes ₹1.73 crore fine on HSBC for wrong credit card data

RBI has imposed a monetary penalty of ₹1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006.

HSBC has furnished incorrect credit information regarding several expired credit cards with nil dues to all four credit information companies.

The RBI imposed the penalty in the exercise of powers conferred under the provisions of Section 25(1) and Section 23(4) of the CIC (Regulation) Act, 2005.

MoHUA, MoR jointly ink MoU with JICA for Project SMART

The MoHUA and the Ministry of Railways jointly signed an MoU with Japan International Cooperation Agency for 'Station Area Development along Mumbai-Ahmedabad High-Speed Rail' (Project-SMART).

Project-SMART envisages developing surrounding areas of Mumbai - Ahmedabad High-Speed Railway (MAHSR) Stations.

This also aimed to enhance accessibility and convenience of commuters & other stakeholders and to promote economic activities in the vicinity of station areas.

PMJJBY, PMSBY, and APY complete 8 years of inception

Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY), and Atal Pension Yojana (APY) have completed their 8 years of providing social security cover on May 9.

PMJJBY: One-year life insurance scheme renewable from year to year offering coverage for death for any reason.

PMSBY is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to an accident.

TNCA launches talent scout program for women

The Tamil Nadu Cricket Association (TNCA) has launched a Talent Scout Program for women to unearth new talents.

The Talent Scout Wing which will comprise former men and women first-class cricketers and coaches, will help in identifying the talent across the state.

The TNCA has formed four groups of four members each who will cover all 37 districts in Tamil Nadu.

Any player who is above 13 years of age can attend the trials.

Ban diesel four-wheelers in cities with 10 lakh population: Panel

According to a report commissioned by the oil ministry, India should ban the use of diesel-powered four-wheelers in cities with over 10 lakh population by 2027 and switch to electric and gas-fuelled vehicles.

The report of the committee headed by former Oil Secretary Tarun Kapoor.

It has also suggested phasing out motorcycles, scooters, and three-wheelers with internal combustion engines by 2035.

It help India to achieve the goal of cutting emissions to net zero by 2070.

RBI parks incremental reserves in US treasuries, other sovereign securities

The Reserve Bank of India (RBI) has deployed it's incremental reserves in bonds and Securities, focusing on US Treasuries and debt issued by other top-rated sovereigns.

Reason: To manage its foreign currency assets and ensure the stability of the Indian economy.

The latest half-yearly report on foreign exchange management showed that as of end-March 2023, of the total foreign currency assets of $509.69 billion, $411.65 billion was invested in securities.