Current Affairs May 2024

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Questions and Answers

Under which Ministry does the Central Drugs Standard Control Organisation (CDSCO) operate?

  • Ministry of Finance
  • Ministry of Commerce and Industry
  • Ministry of Human Resource Development
  • Ministry of Health & Family Welfare (correct)

What is the primary purpose of the corporate governance charter launched by the Confederation of Indian Industry (CII)?

  • To provide funding to startups
  • To offer guidelines on corporate governance tailored for startups (correct)
  • To regulate the startup industry in India
  • To promote international trade for startups

What is the main benefit of ensuring good corporate governance in a company?

  • To reduce the company's tax liabilities
  • To ensure the company is run in a fair manner to achieve the best interests of all stakeholders (correct)
  • To increase the company's profit margins
  • To increase the company's market share

At which stage of a startup should the organisation's assets be distinct from the founders' assets?

<p>At the Inception stage (C)</p> Signup and view all the answers

What is the role of the CDSCO's 9 zonal offices across the country?

<p>To regulate the pharmaceutical industry (C)</p> Signup and view all the answers

What is the purpose of the self-evaluative scorecard in the CII's corporate governance charter?

<p>To assess the startup's adherence to corporate governance practices (D)</p> Signup and view all the answers

What is the primary focus of the CII's corporate governance charter?

<p>To offer guidelines on corporate governance tailored for startups (C)</p> Signup and view all the answers

What is a key aspect of corporate governance in India?

<p>Ensuring the company is run in a fair manner (A)</p> Signup and view all the answers

What is the significance of the four stages of a startup in the CII's corporate governance charter?

<p>They offer guidelines on corporate governance tailored for startups at different stages (B)</p> Signup and view all the answers

What is the main objective of the CDSCO?

<p>To ensure the quality control of imported drugs (A)</p> Signup and view all the answers

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Study Notes

Banking and Finance

  • ICICI Bank partnered with the National Payments Corporation of India (NPCI) to enable its NRI customers to make UPI payments instantly in India using their international mobile number.
  • The Asian Development Fund (ADF) will be replenished with $5 billion to support vulnerable sections in the Asia Pacific region.
  • Indian Overseas Bank will sell 92 NPA accounts having Rs 13,472 cr loan outstanding through e-auction.
  • GetVantage, a pioneer in revenue-based finance (RBF), secured the first-ever NBFC license for an RBF start-up in India.
  • India Ratings raises sovereign GDP growth estimate for FY25 to 7.1%.
  • Groww Mutual Fund launches Groww Nifty Non-Cyclical Consumer Index Fund.
  • Wipro and Microsoft teamed up for AI virtual assistants for financial services.

Business and Economy

  • IndusInd Bank sets a new target of Rs 4.2 lakh crore by 2030.
  • India is on track to become the third-largest consumer market by 2026, according to UBS.
  • IndiGo places a firm order for 30 Airbus A350-900 widebody aircraft.
  • India allows 14,000 MT non-basmati white rice exports to Mauritius.
  • Indian airlines are expected to have 50% market share in international passenger traffic by FY28, according to CRISIL.
  • Dhoni-backed EMotorad will build the world's biggest electric cycle gigafactory.

Science and Technology

  • ISRO is working on a semi-cryogenic engine that uses liquid oxygen and kerosene.
  • IIT Madras and Sambalpur University will collaborate on research.

Health

  • World Health Organisation (WHO) released a report highlighting that global immunisation efforts have saved an estimated 154 million lives over the past 50 years.
  • World Asthma Day 2024 was observed on May 7, 2024.

Miscellaneous

  • Real Madrid clinched their 36th La Liga title.
  • Sabyasachi Mukherjee became the first Indian designer to walk the Met Gala carpet.
  • Air Marshal Nagesh Kapoor assumed command as AOC-in-C, Training Command.
  • Visa appoints Sujai Raina as India head.
  • José Raúl Mulino won Panama's Presidential Election.
  • Frank Shrontz, former Boeing CEO, died at 92.
  • Zee Media Corporation terminated CEO Abhay Ojha; Idris Loya will take over.

Regulatory Bodies

  • CDSCO: The Central Drugs Standard Control Organisation operates under the Ministry of Health & Family Welfare, headquartered in New Delhi, and is responsible for approving drugs, conducting clinical trials, setting drug standards, and ensuring quality control of imported drugs.
  • CII launches a new corporate governance charter for startups, which provides suggestions on Corporate Governance tailored for startups and offers guidelines suitable for different stages of a startup.

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