3 May 2024 current affairs

3 May 2024 current affairs


National news:

Introducing India’s 1st Vande Metro: Revolutionizing Urban Transit

  • The first Vande Bharat Metro, a short-distance variant of the Vande Bharat Express trains, was rolled out from the Rail Coach Factory in Punjab’s Kapurthala. Trial runs for the new-age metro are expected to commence in July. 
  • The Vande Metro, a variant of the Vande Bharat Express trains, aims to revolutionize daily travel with its shuttle-like experience and affordability.
  • Set to commence trial runs in July 2024, the metro will facilitate both inter-city and intra-city travel, promising speed and convenience.
  • Designed for short distances, it will operate at a speed of 130 kilometers per hour, connecting 124 cities within a range of 100-250 kilometers.
  • Unique coach configuration: Four coaches form one unit, with a minimum of 12 coaches making up a Vande Metro train, expandable to 16 based on demand.
  • The project signals a significant leap in India’s transportation infrastructure, catering to the evolving needs of commuters.

Indian Army and Punit Balan Group Collaborate to Inaugurate India’s First Constitution Park

  • The Indian Army partners with the Punit Balan Group to unveil Pune’s Constitution Park, marking a significant milestone in civic education and national pride.
  • Lt. Gen. Ajai Kumar Singh underscores citizen responsibility towards development, urging adherence to the Constitution’s Fundamental Duties for a developed India by 2047.
  • Highlighting the global significance of the Indian Constitution, Lt. Gen. Singh emphasizes the importance of citizens comprehending their rights and fulfilling their duties.
  • Punit Balan expresses delight in contributing to the initiative and pledges the Punit Balan Group’s commitment to upholding the Fundamental Rights and Duties enshrined in the Constitution.
  • The collaboration reflects a joint effort to promote civic awareness and foster a sense of duty towards nation-building among citizens.

International news

Pro-China Candidate Wins Solomon Islands PM Vote: Implications for Regional Dynamics

  • Jeremiah Manele secures victory in the Solomon Islands prime minister vote, signaling continued allegiance to China.
  • Manele’s win, with a 31-18 count against opponent Matthew Wale, suggests the nation’s intent to maintain close ties with Beijing.
  • Manele’s previous role as foreign minister during the diplomatic switch from Taiwan to China in 2019 underscores his alignment with pro-China policies.

Solomon islands:

  • Capital: Honiara
  • Currency: Solomon Islands Dollar

Award news:

Bhavi Mehta Wins Oxford Bookstore Book Cover Prize 2024 for ‘The Book Beautiful’

  • Designer Bhavi Mehta clinches the Oxford Bookstore Book Cover Prize for the book jacket of Pradeep Sebastian’s “The Book Beautiful”.
  • The announcement took place at the India Habitat Centre (IHC) where Mehta was awarded a trophy, certificate, and a cash prize of one lakh rupees.
  • The jury, chaired by art historian Alka Pande, included Shashi Tharoor, May-Elin Stener, and Swagat Sengupta, CEO of Apeejay Oxford Bookstores, who felicitated Mehta for his achievement.
  • Mehta’s design stands out for its visual appeal and apt representation of the essence of Sebastian’s literary work, earning recognition in the prestigious literary design arena.

Banking news:

Worldline ePayments India Granted RBI Approval as Payment Aggregator:

  • Worldline ePayments India secures approval from the Reserve Bank of India (RBI) to function as a payment aggregator, affirming its commitment to regulatory compliance and the Indian market.
  • CEO Ramesh Narasimhan acknowledges RBI’s authorization, emphasizing the company’s dedication to compliance and its focus on serving the Indian market amidst regulatory changes.
  • The approval aligns with RBI’s recent granting of in-principle approval to PayU, signaling a broader trend of regulatory scrutiny and compliance measures within India’s payments landscape.

Worldline ePayments India:

  • Chief executive officer- Ramesh
  • Headquarters- Mumbai, Maharashtra

Neobanking startup Fi Secures NBFC Licence from RBI to Expand Lending Operations

  • Neobanking startup Fi, backed by investors including Peak XV and Temasek, obtains a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI).
  • The licence enables Fi to extend loans directly from its own books, joining other fintech players like Jupiter, Groww, and Cred in the lending business.
  • Acquiring an NBFC licence empowers Fi to establish an asset base by offering loans directly, rather than acting solely as intermediaries between borrowers and traditional financial institutions.

NPCI Partners with Bank of Namibia to Develop UPI-like System

  • NPCI International Payments Limited (NIPL) collaborates with the Bank of Namibia (BoN) to develop an instant payment system akin to India’s Unified Payment Interface (UPI) for Namibia.
  • This marks NPCI’s inaugural partnership with a central bank to introduce the UPI stack in an international market, aiming to facilitate real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in Namibia.
  • The collaboration signifies a strategic move to provide BoN access to cutting-edge technology and expertise from NIPL, fostering the establishment of a similar platform in Namibia for advancing digital financial services and benefiting its citizens.

NPCI International Payments Limited (NIPL)

  • CEO: Rithesh Shukla
  • Headquarters: Mumbai, Maharashtra
  • Established in 2020
  • NIPL is wholly owned subsidiary of NPCI

About bank of Namibia:

  • BoN was founded on 16 july 1990 and commenced its operation on 1 August 1990 it was initially called the swabank
  • Governor: Johannes gawaxab
  • Headquarters: Windhoek, Namibia

Yes Bank and ANQ Introduce Pi and Phi Co-Branded Credit Cards with DeFi Features

  • Yes Bank teams up with Bengaluru-based DeFi fintech ANQ to launch two co-branded credit cards, Pi and Phi.
  • The Pi card stands out for offering seamless credit on UPI transactions, enhancing user convenience and security by eliminating the need for physical cards.
  • ANQ’s expertise in Decentralized Finance (DeFi) contributes to the innovative features integrated into the credit cards, reflecting a strategic collaboration between traditional banking and emerging fintech solutions.
  • The partnership aims to cater to the evolving needs of consumers by providing advanced digital banking solutions, leveraging DeFi technology for enhanced financial inclusivity and efficiency.

YES bank ltd:

  • CEO- Prashant kumar
  • Headquarters: Mumbai, Maharashtra
  • Established in 2004
  • Tagline- life ko banao rich

Ranks And Reports News:

Nepal Kathmandu Ranked Most Polluted City Worldwide: Urgent Measures Needed:

  • The Ministry of Health and Population of Nepal advises residents to wear masks as air pollution levels in the Kathmandu valley reach alarming levels.
  • IQAir’s real-time pollution data places Kathmandu at the top of the list of cities with ‘unhealthy air’ globally.
  • Following Kathmandu, cities like New Delhi, Chiang Mai (Thailand), Hanoi (Vietnam), Bangkok (Thailand), and Dhaka (Bangladesh) also feature among the most polluted cities, highlighting the severity of air quality challenges in urban areas across Asia.
  • Urgent actions and collaborative efforts are required to address the root causes of air pollution and mitigate its harmful effects on public health and the environment.

Nepal country

  • Capital: Kathmandu
  • Currency: Nepalese Rupee
  • President: Ram Chandra Poudel
  • Prime minister: Pushpa Kamal Dahal

Important days

World Tuna Day 2024: Promoting Sustainable Fishing Practices:

  • World Tuna Day, observed annually on May 2nd, aims to raise awareness about the critical importance of tuna conservation.
  • Tuna, prized for its health benefits, including Omega-3 fatty acids and vital nutrients, faces threats from overfishing and unsustainable practices.
  • The World Tuna Day was first observed in 2017. The day was established by the United Nations General Assembly to raise awareness about the declining tuna population and to promote the conservation and management of tuna fisheries.

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