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Current Affairs 25th May 2024

Current Affairs 25th May 2024

Welcome to your one-stop shop for catching up on all the important happenings on May 25th, 2024! From international developments to domestic triumphs, this blog post will bring you the latest in Current Affairs 25th May 2024.


1) MoWCD Officially Dissolves Food & Nutrition Board

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In a move to streamline government functions, the Ministry of Women and Child Development (MoWCD) officially dissolved the Food and Nutrition Board (FNB). This action follows the government’s rationalization strategy, aiming to consolidate resources and improve efficiency. FNB is the MoWCD’s technical support branch, with its headquarters in Delhi.


The FNB stopped operations on December 1, 2023, after receiving official dissolution clearance on November 30, 2023.

The FNB was originally founded by the Ministry of Agriculture and Farmers’ Welfare. It was moved to the Ministry of Women and Children in 1993.


  • Responding to suggestions from the Principal Economic Adviser’s November 2020 report, a decision was made during a Cabinet meeting on April 6, 2023.
  • During the meeting, the Cabinet supported the MoWCD’s suggestions to rationalise and close the FNB, Rashtriya Mahila Kosh, and Central Social Welfare Board.

FNB’s Structure and Network:

  • The FNB operated four regional offices and quality control laboratories in Faridabad (Haryana), Mumbai (Maharashtra), Kolkata (West Bengal), and Chennai (Tamil Nadu).
  • It also ran 43 Community Food and Nutrition Extension Units (CFNEUs) around the country.

Transfer of Properties:

  • CFNEUs in Mumbai, Jaipur (Rajasthan), and Bhubaneswar (Odisha) were moved to the Directorate of Estates within the Ministry of Housing and Urban Affairs (MoHUA).
  • Four properties in Faridabad, Chennai, Navi Mumbai, and Kolkata are being transferred.
  • The central and regional food testing laboratories in Faridabad and Chennai would be turned over to the Food Corporation of India (FCI) or the Department of Food and Public Distribution (DFPB).
  • Laboratories in Navi Mumbai and West Bengal would be leased to the FCI and DFPB pending state approval.

About Ministry of Women and Child Development (MoWCD):

  • Union Minister– Smriti Zubin Irani (Constituency: Amethi, UP)
  • Minister of State– Dr. Munjpara Mahendrabhai Kalubhai (Constituency: Surendranagar, Gujarat)

About Food Corporation of India (FCI):

  • FCI is a statutory body established in 1965 under the Food Corporation Act of 1964.
  • Chairman & Managing Director (CMD)- Ashok K. K. Meena
  • Headquarters– New Delhi, Delhi

Click here to read from source

2) MoRTH releases New Driving License Rules w.e.f. June 1, 2024; Makes Driving Tests at RTO Optional

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The Ministry of Road Transport and Highways (MoRTH) has proposed new laws that would ease the process of getting a driver’s license (DL) beginning June 1, 2024.

  • The new laws allow candidates to take their driving exams at privately owned driving instruction centers.
  • This will alleviate congestion at Regional Transport Offices (RTOs).
  • The new legislation has decreased the documents necessary for new driver’s licenses.
  • In order to streamline the process and minimize the need for physical visits to RTOs, the new regulations will directly tie the essential paperwork required to the type of vehicle being registered.

This also imposes severe consequences for infractions.

About Ministry of Road Transport and Highways (MoRTH):

  • Union Minister– Nitin Jairam Gadkari (Constituency- Nagpur, Maharashtra)
  • Minister of State (MoS)– General (Retd.) Vijay Kumar Singh (Constituency- Ghaziabad, Uttar Pradesh)

Click here to read from source


3) Unclaimed deposits in Banks reached Rs 42,270 crore as of March 2023: RBI Data

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According to statistics submitted in Parliament by the Reserve Bank of India (RBI), unclaimed deposits in public and private sector banks were Rs 42,270 crore as of March 2023.

  • The COVID-19 epidemic had a substantial influence on this number, with unclaimed deposits totaling Rs 39,900 crore in December 2022, more than doubling the amount from December 2019.
  • Several banking institutions disperse unclaimed deposits across their networks. These institutions include public, private, international, and regional rural banks.
  • Public Sector Banks (PSBs) held Rs 33,303 crore (83% of total) as of December 2022. It is greatest at State Bank of India (SBI), with 2.16 crore accounts valued Rs 8,069 crore.

About Reserve Bank of India (RBI):

  • Governor – Shaktikanta Das
  • Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
  • Headquarters– Mumbai, Maharashtra
  • Establishment– April 1, 1935

Click here to read from source

4) IRDAI Introduced New Corporate Governance Regulations for Insurers

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The Insurance Regulatory and Development Authority of India (IRDAI) has implemented new corporate governance standards for insurers. On March 21, 2024, the Insurance Regulatory and Development Authority of India took action to publish new corporate governance regulations. These regulations, formally titled “The Insurance Regulatory and Development Authority of India (Corporate Governance for Insurers) Regulations, 2024” (hereinafter referred to as “the Regulations”), aim to establish clear guidelines for the insurance industry.

  • Effective immediately, insurance firms must obtain prior permission for their Board Chairperson selections.
  • Existing chairpersons have until March 31, 2026, or the end of their present mandates, whichever comes first, to comply with the new requirements.
  • On May 15, 2024, the Insurance Regulatory and Development Authority of India (IRDAI) released two distinct Master Circulars that loosened procedural restrictions on management expenses and share transfers.

About Insurance Regulatory and Development Authority of India (IRDAI):

  • Constituted in 1999, the Insurance Regulatory and Development Authority (IRDAI) subsequently achieved formal incorporation as a statutory body in April 2000.
  • Chairperson– Debasish Panda
  • Headquarters-Hyderabad, Telangana

Click here to read from source

5) SEBI Introduced Framework to Determine Unaffected Price in Response to Market Rumour

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On May 21, 2024, the Securities and Exchange Board of India (SEBI) announced a new Framework for assessing unaffected prices for transactions following the confirmation of market rumors.

This market speculation might be about anything, including the departure of senior management, the cancellation of an order, or financial health.


  • The framework will apply to the top 100 listed businesses beginning June 1, 2024, and the top 250 listed entities (the following top 150) beginning December 1, 2024.
  • The unaffected price will be effective for 60 or 180 days, depending on the transaction stage, from the rumor confirmation date to the relevant date under current requirements such as public announcement, board approval, etc.

Key Points:

The SEBI LODR (Amendment) Regulations, 2024, which modify Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations), now mandate that listed businesses take action to verify market rumors whenever these rumors correspond with significant fluctuations in stock price.

The second proviso of Regulation 30(11) of the LODR Regulations dictates that when a listed entity verifies a rumour about a transaction within 24 hours of a material price movement triggering, the unaffected price shall be considered for transactions subject to SEBI or stock exchange pricing norms.

Therefore, transactions subject to SEBI or stock exchange pricing guidelines will utilize a modified Volume-Weighted Average Price (VWAP).

About Securities and Exchange Board of India (SEBI):

  • Chairman- Madhabi Puri Buch
  • Headquarter- Mumbai, Maharashtra
  • Established- 1992

Click here to read from source

6) SEBI amends rule to Facilitate Ease of Doing for Companies Planning IPOs

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The Securities and Exchange Board of India (SEBI) has issued SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024, which amend the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

  • Key modifications include simplified criteria for adjusting the amount of the Offer for Sale (OFS) and increased flexibility in achieving Minimum Promoter Contribution (MPC) standards.
  • Additionally, SEBI has made changes to handle force majeure situations throughout the IPO process.
  • These modifications are part of updates to the Issue of Capital and Disclosure Requirements (ICDR) regulations.

Key Points:

Simplified OFS Criteria

Changes in OFS size necessitating a new filing will now be based on either the issue size in rupees or the number of shares, not both.

Flexibility in Meeting MPC

  • Promoter group businesses and non-individual shareholders with greater than 5% post-offer ownership could potentially contribute to reducing the MPC deficit, even though they wouldn’t be considered promoters.
  • Equity shares from compulsorily convertible securities held for a year before submitting the Draft Red Herring Prospectus (DRHP) will contribute to MPC.

Adjustments for Force Majeure Events

In the event of force majeure circumstances, such as bank strikes, bid closing dates will be extended by at least one day, instead of following the customary three-day extension threshold.

Rule Amendments

These modifications are part of the adjustments to the Issue of Capital and Disclosure Requirements (ICDR) regulations, which SEBI notified on May 17. These reforms are intended to shorten the IPO process and provide flexibility for firms and promoters.

About Securities and Exchange Board of India (SEBI):

  • Chairperson– Madhabi Puri Buch
  • Headquarters– Mumbai, Maharashtra
  • Establishment–1992

Click here to read from source

7) TCS Signed a Core Banking Deal With Kuwait’s Burgan Bank (Current Affairs 25th May 2024)

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Tata Consultancy Services (TCS), a global leader in information technology (IT) services, consulting, and business solutions, has inked an agreement to update Burgan Bank’s core banking system, one of Kuwait’s newest commercial banks.

  • TCS will use TCS BaNCS to combine various isolated old apps into a contemporary universal banking solution that fosters innovation and improves client connections.
  • TCS BaNCS is a core banking software package created by TCS for retail banks.
  • The Burgan Bank will also leverage the TCS solution to handle increased transaction volumes, improve automation, and boost employee efficiency.

Click here to read from source


8) Indian-Origin Scientist Shrinivas R. Kulkarni won the Prestigious Shaw Prize in Astronomy for 2024 (Current Affairs 25th May 2024)

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Shrinivas Ramchandra Kulkarni, an Indian-Origin American scientist, has received the prestigious 2024 Shaw Prize in Astronomy.

The awarding of the prize celebrates his contributions to time-domain astronomy. Firstly, he designed the Palomar Transient Facility (PTF). Then, he oversaw its construction. Moreover, he managed the PTF effectively. In addition, he played a crucial role in the development of its successor, the Zwicky Transient Facility (ZTF).

These insights help us better grasp the time-varying optical sky.

About Shrinivas R. Kulkarni:

He was born in 1956 in Maharashtra, India, and is the brother of Sudha Murthy, a notable Indian philanthropist and Padma Bhushan Award recipient.

The California Institute of Technology (Caltech), a prestigious university in the United States, currently employs him as the Ellery Hale Professor of Astronomy and Planetary Science within the Division of Physics, Mathematics, and Astronomy.

Shrinivas Ramchandra Kulkarni was a Millikan Research Fellow in Radio Astronomy from 1985 to 1987.

He served as Executive Officer for Astronomy from 1997 to 2000 and Director of Caltech Optical Observatories from 2006 to 2018. v.He is a member of several notable institutions, including the Royal Society of London, the Indian Academy of Sciences, and the United States National Academy of Sciences, among others.

2024 Shaw Prize:

He was born in 1956 in Maharashtra, India, and is the brother of Sudha Murthy, a well-known Indian philanthropist and Padma Bhushan laureate.

He presently serves as the Ellery Hale Professor of Astronomy and Planetary Science in the Division of Physics, Mathematics, and Astronomy at the California Institute of Technology (Caltech) in the United States of America.

From 1985 to 1987, he held a Millikan Research Fellowship in Radio Astronomy.

He was Executive Officer of Astronomy from 1997 to 2000 and Director of Caltech Optical Observatories from 2006 to 2018. v.He is a member of numerous prestigious organizations, including the Royal Society of London, the Indian Academy of Sciences, and the United States National Academy of Sciences, among others.

Winners of 2024 Shaw Prize:


Winner Category



Shrinivas R. Kulkarni


For his ground-breaking discoveries about milliseconds (ms) pulsars, gamma-ray bursts, supernovae etc.


Swee Lay Thein
Stuart Orkin

Life Science and Medicine

For their discovery of the genetic and molecular mechanisms underlying the fetal-to-adult hemoglobin switch, making it possible to treat sickle anemia and Beta thalassemia.


Peter Sarnak

Mathematical Sciences

For his development of the arithmetic theory of thin groups and the affine sieve, by bringing together number theory, analysis, combinatorics, geometry and spectral theory.

About Shaw Prize:

The Shaw Prize Foundation, established in 2002, annually confers the Shaw Prize, often referred to as the “Nobel of the East,” upon remarkable individuals in recognition of their exceptional contributions to astronomy, life science and medicine, and mathematical science.

  • The Shaw Prize was founded by legendary philanthropist Run Run Shaw, and the first Shaw Prize was awarded in 2004.
  • The Shaw reward winners were awarded a monetary reward of USD 1.2 million.

Click here to read from source

9) Thiruvananthapuram International Airport Becomes the 1st Airport to achieve ZWL Accolade (Current Affairs 25th May 2024)

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Thiruvananthapuram International Airport in Thiruvananthapuram, Kerala, has been India’s first airport to receive the Zero Waste to Landfill (ZWL) certification from the CII-ITC CESD.

This certification demonstrates the airport’s dedication to sustainable trash management techniques.

Key Points:

According to the ZWL evaluation, the Airport effectively implemented optimal waste management practices, resulting in 99.50% waste diversion from landfills.

The airport diverted all of its plastic garbage and Municipal Solid garbage (MSW), both wet and dry, from landfills.

Airport accomplished 99.5% waste diversion from landfills by integrating a strong value chain system and using Sustainable Waste Management’s 5R principles (Reduce, Reuse, Reprocess, Recycle, and Recover).

The Airport has implemented a comprehensive waste management system that adheres to the ISO 14001:2015 requirements.

It entails trash segregation, recycling, monitoring, and reduction operations that all work on a cradle-to-cradle basis to achieve sustainable waste management.

Note: The ZWL intends to divert at least 99% of generated garbage from landfills while also lowering overall waste production.

CII-ITC Centre for Excellence for Sustainable Development (CESD):

ITC Limited founded CII-ITC CESD in 2006 in conjunction with the Confederation of Indian Industry (CII) to raise awareness, promote thought leadership, build capacity, and recognize outstanding performance in the field of sustainability. It is one of CII’s nine centres of excellence (CoEs).

  • Chairman, Advisory Council– Sanjiv Puri (CMD of ICT)
  • Headquarters– New Delhi, Delhi

Click here to read from source

Click here to read: Current Affairs 24th May 2024


10) Delhi HC Appointed Justice Najmi Waziri as Chairperson of Administrative Committee of EFI (Current Affairs 25th May 2024)

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The Delhi High Court (HC) has nominated Justice Najmi Waziri, a retired Delhi HC judge, as Chairperson of the Ad-Hoc Administrative Committee (AAC) to oversee the administration of the Equestrian Federation of India (EFI), India’s regulatory body of equestrian sports.

Dr. S.Y. Quraishi, former Chief Election Commissioner (CEC) of India, serves as the committee’s observer, while Advocate Rohini Musa is a member of the AAC.

Key Points:

  • The committee will be in charge of the day-to-day administration and operation of the EFI.
  • It shall have the authority to issue any necessary instructions for the day-to-day functioning of EFI, with the Chairperson’s signature.
  • The Court has empowered the AAC to make appropriate arrangements for governing the EFI until elections are held.

Points to note:

Justice Tara Vitasta Ganju issued the ruling in response to a plea filed by the Rajasthan Equestrian Association, which claimed that the EFI electoral college breached the National Sports Development Code of India 2011 by allowing clubs and army units to vote.

  • The injunction prohibits the current EFI office-bearers, whose terms expired in September 2023, from performing any functions but must provide all support to the AAC.
  • Within 10 days, Col. Jaiveer Singh must provide a report to the AAC summarizing all EFI decisions made from September 29, 2023.

About Najmi Waziri:

  • On April 17, 2013, Justice Najmi Waziri was appointed as an Additional Judge of the Delhi High Court. He later resigned on April 14, 2023.
  • During his tenure, he earned the famous title ‘Delhi’s Green Judge’ thanks to his efforts to improve the city’s greenery.
  • One way he did this was by requesting that plaintiffs plant 3.7 lakh trees.
  • Continuing his environmental advocacy, in April 2024, he was named Chairman of the Internal Departmental Committee established to conserve and maintain deemed woods in New Delhi, Delhi.
  • Justice Najmi Waziri received the SKOCH India Law Award in 2023 for her services to justice.

Click here to read from source

11) Former Ambassador Allamaye Halina Appointed as New Prime Minister of Chad (Current Affairs 25th May 2024)

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Chadian President Mahamat Idriss Deby Itno has nominated Chad’s former ambassador, Allamaye Halina, as the next Prime Minister (PM) of Chad.

Allamaye Halina replaced opposition leader Succes Masra, who resigned on May 22, 2024. Succes Masra was chosen Prime Minister of Chad in January 2024.

Allamaye Halina is a diplomat and former Director General of State Protocol. He formerly served as Chad’s ambassador to China.

On May 6, 2024, Deby assumed office as Chad’s President for a five-year term, having clinched victory in the presidential elections.

Click here to read from source


12) Tata Communications Partners With Cisco To Launch Webex Calling in India  (Current Affairs 25th May 2024)

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Tata Communications Limited, a worldwide communications technology company, has teamed with Cisco Systems, Inc to introduce Webex Calling with cloud Public Switched Telephone Network (PSTN) for organizations conducting business in India.

Tata Communications’ ‘Webex Calling’ service will be the first of its type in India, combining Cisco’s Webex Calling with the Tata Communications GlobalRapide platform’s cloud voice services.

Webex Calling is a contemporary and complete business phone system that offers enterprise-grade calling via a globally available cloud platform, with over 14 million customers worldwide.

It offers enterprises flexible deployment choices, centralized management, and AI-powered collaboration tools and devices.

Note: Cisco, founded in 1984 in California, the United States of America (USA), was a pioneer in the development of IP-based networking technology.

Click here to read from source

13) India Develops First Research Testbed Facility to Study Norwesters (Current Affairs 25th May 2024)

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India plans to build the first-of-its-kind research testbed facility to investigate Norwesters, which hit India’s east and northeast areas each summer. The facility will assist meteorologists in tracking the Norwesters using drones, mobile vans, and advanced instrumentation.

The India Meteorological Department (IMD) in New Delhi, along with the Indian Institute of Tropical Meteorology (IITM) located in Pune, Maharashtra, and the National Centre for Medium-Range Weather Forecasting (NCMRWF) in Delhi, are joining forces to construct a new research testbed.

The proposed facility will span a broad region bordering West Bengal (WB), Odisha, and Jharkhand, with the control center located in Chandbali, Bhadrak district of Odisha.

It intends to investigate thunderstorm genesis, development, and propagation over eastern India.

With unwavering confidence, the Minister of Earth Sciences declared, “Construction of the facility will be completed by 2026.

Norwesters are exceptionally strong thunderstorms that form across eastern and northeast India, south Nepal, Bhutan, and Bangladesh.

In India, these storms are further referred to as ‘Kalbaisakhi,’ while in Assam, the local term is ‘Barodoli Cheerha.

Click here to read from source


14) Emblica chakrabartyi: New Plant Species Discovered in Kerala (Current Affairs 25th May 2024)

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A team of scientists found the new plant species ‘Emblica chakrabartyi’ in Adichilthotti, which is part of Kerala’s Edamalayar forest area. In recognition of his contributions to Phyllanthaceae research, a new species is named after Tapas Chakrabarty, a former scientist at the Botanical Survey of India (BSI). This discovery of the plant species was subsequently reported in John Wiley & Sons’ International Journal, Nordic Journal of Botany, a Swedish publication.

  • Emblica chakrabartyi belongs to the gooseberry (Phyllanthaceae) family and grows as a shrub in tropical rainforests.

There are 55 species of the genus Emblica documented worldwide. The new facility is India’s 11th.


The plant grows to a height of around 2 meters. The leaves are huge, with a glossy elongated oval form measuring up to 13 cm.

Its yellowish-green bloom has six petals. Flowering and fruits occur from December to June. Inflorescences gather male flowers together, while female flowers are positioned solitary on the leaf axils.

  • When the fruits ripen, they become brown to black, and the seeds are around 8-9 mm in diameter.
  • As part of a University Grants Commission (UGC) supported research study, the crew embarked on an excursion during which they excitedly discovered a colony of around 55 plants.

Click here to read from source


15) First-Ever UN International Day of the Markhor 2024 – 24 May (Current Affairs 25th May 2024)

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On May 24, 2024, the United Nations (UN) held the first-ever International Day of the Markhor worldwide to raise awareness of and encourage the protection of the Markhor (Capra falconeri), an iconic and ecologically valuable animal, and its natural habitat.

Markhor, the world’s largest wild goat species, with wide hooves and spiral horns. It has been the national animal of Pakistan since 1972.


  • On May 2, 2024, the United Nations General Assembly (UNGA) enacted Resolution A/RES/78/278, designating May 24th as the International Day of the Markhor.
  • The resolution requested that the United Nations Environment Programme (UNEP) help to organize the International Day.
  • Nine countries – Afghanistan, China, Hungary, Israel, Kazakhstan, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan – took the initiative to sponsor a draft resolution.

Click here to read from source

16) Indian Commonwealth Day 2024 – May 24 (Current Affairs 25th May 2024)

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People all across the Commonwealth, spanning Africa, Asia, the Caribbean and Americas, the Pacific, and Europe, actively commemorate Commonwealth Day (formerly known as Empire Day) on the second Monday of March. However, India and several other Commonwealth nations mark Commonwealth Day on May 24th.

Indian Commonwealth Day 2024 was marked on May 24, 2024.

Commonwealth Day 2024 was marked on March 11, 2024.

Commonwealth Day celebrates common principles such as democracy, human rights, and sustainable development.


The topic of Commonwealth Day 2024 is ‘One Resilient Common Future: Transforming Our Common Wealth’.

It is also the topic of the 27th Commonwealth Heads of Government Meeting (CHOGM), a biannual gathering of Commonwealth leaders set for Samoa from October 21 to 26, 2024.

What is the Commonwealth?

Comprising 56 sovereign and equal member nations, the Commonwealth encompasses an international political organization that represents roughly one-third of the world’s population, a total of 2.5 billion people.

  • Driven by the ideals and principles enshrined in the Commonwealth Charter, the member nations wholeheartedly commit to upholding them.
  • The majority of Commonwealth countries are former British Empire colonies.


  • Following the tradition established during decolonization, the Commonwealth of Nations acknowledges the British monarch as its symbolic leader.
  • The Commonwealth’s present Head is His Majesty King Charles III.


  • To honor Queen Victoria, who had died in 1901, Commonwealth Day was initially observed as Empire Day on May 24, 1902.
  • Subsequently, it wasn’t formally recognized as an annual event until 1916.
  • The 24th of May coincides with Queen Victoria’s birth anniversary of May 24, 1819.
  • In 1958, then-Prime Minister of the United Kingdom (UK) Harold Macmillan spearheaded the rebranding of Empire Day as British Commonwealth Day. Subsequently, in 1966, this designation itself underwent a change to simply Commonwealth Day.

Date Change:

Officials initially set the date of Commonwealth Day for June 10th. However, in 1977, a shift occurred, moving the celebration to the second Monday of March.

Therefore, the decision was made to permanently establish Commonwealth Day on the designated second Monday in March. Since then, it has been consistently held on this date.

Key Focus Areas of 2024 observance:

  • Building Resilience: Leveraging the capabilities of the 56 member nations.
  • Unlocking Potential: Leveraging the Commonwealth’s distinct advantages.
  • Digital Connectivity: Creating a connected and digital Commonwealth.

Points to Note:

  • India is the Commonwealth’s most populated member state, accounting for roughly 60% of the association’s overall population.
  • India makes the fourth greatest contribution to Commonwealth budgets and programs.

Click here to read from source

17) World Schizophrenia Awareness Day 2024 – May 24 (Current Affairs 25th May 2024)

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World Schizophrenia Awareness Day, marked annually on May 24th, raises awareness of schizophrenia, a serious mental disorder that affects 24 million people worldwide.


  • The National Schizophrenia Foundation (NSF), a non-profit organization, launched World Schizophrenia Awareness Day, also known as Pinel Day, in honor of French physician Dr. Philippe Pinel.
  • Swiss psychiatrist Bleuler coined “schizophrenia” on April 24, 1908.

Click here to read from source

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