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Current Affairs Daily Digest – May 03 2024

1. Veteran Politician and Former Union Minister V. Srinivas Prasad Passes Away at 76

V. Srinivas Prasad, a former Union Minister and a Member of Parliament (MP) for the Bharatiya Janata Party (BJP), has passed away, leaving behind a veteran political figure who was a significant contributor to the Indian political landscape.

Prasad, who had a glorious career that spanned half a century, passed away at the age of 76 in Bengaluru, Karnataka. He had a distinguished career that spanned five decades.

A life spent serving the public in some capacity

Although Prasad was born on August 6, 1947 in Ashokapuram, Mysore (now Mysuru), he did not begin his political career until 1974, when he ran for the Assembly elections as an independent candidate.

Over the course of his life, he has been affiliated with a number of different political parties, such as the Janata Party, Congress, Janata Dal (Secular), Janata Dal (United), and the Samata Party.

However, it was the Bharatiya Janata Party (BJP) that gave him a sense of belonging.

2. ICICI Bank Joins India’s Top 5 Companies with Market Cap Surpassing Rs 8 Trillion

It is a tremendous accomplishment that ICICI Bank has engraved its name among the top five firms in India in terms of market valuation, reaching the milestone of Rs 8 trillion.

Shares of the private lender increased by more than five percent, which propelled the company’s market value to new heights and solidified its position as a dominant force in the financial sector.

Notable achievement for ICICI Bank

With the passage of time, ICICI Bank has become the second bank in India to surpass the market capitalization threshold of Rs 8 trillion, following in the footsteps of HDFC Bank.

Because of this accomplishment, the bank has demonstrated that it has good financial performance, robust growth potential, and robust investor trust.

3. Adani Green Energy Secures $400 Million Finance for Solar Projects

In order to provide financial assistance for its ongoing solar projects in Gujarat and Rajasthan, Adani Green Energy Ltd (AGEL) has been successful in obtaining a financing package worth 400 million dollars from a consortium of five international financing institutions.

These projects, which have a combined capacity of 750 megawatts, are scheduled to begin operations beginning in November 2024 and continuing beyond.

Specifics of the Project

The Solar Energy Corporation of India (SECI) has engaged into a long-term power purchase agreement (PPA) with one of the projects, which is situated in the state of Rajasthan and has a capacity of 500 megawatts (MW).

The second project is a standalone merchant power project that has a capacity of 250 megawatts (MW). It is located in Khavda, Gujarat, which is located within the largest renewable energy (RE) cluster in the world.

4. Pratima Singh (IRS) Appointed as Director in DPIIT

An official of the Indian Revenue Service (IRS), Pratima Singh, has been appointed to the position of Director in the Department of Promotion of Industry and Internal Trade (DPIIT), according to an announcement made by the Department of Personnel and Training (DoPT).

The Most Important Aspects

In accordance with the Central Staffing Scheme, Pratima Singh, an IRS officer who was a part of the 2009 batch, has been chosen for the prestigious job under consideration.

The duration of her appointment as Director of DPIIT is for a term of five years beginning on the date that she officially assumed charge or until additional instructions are issued, whichever occurs first.

The Department of Revenue, where Singh had been working previously, was the one who suggested that she be chosen for this position.

5. World Press Freedom Day 2024 – May 03

On May 3rd, the global community will come together to observe World Press Freedom Day, a significant event that honours the fundamental principles of press freedom and the vital role journalists play in informing and enlightening the public.

Date and Theme

This year, World Press Freedom Day falls on a Friday, and the theme for 2024 is “A Press for the Planet: Journalism in the Face of the Environmental Crisis.”

The theme highlights the crucial role of journalism and freedom of expression in addressing the global environmental crisis and driving meaningful action on pressing environmental issues.

6. Amul Becomes Lead Sponsor for USA and South Africa in T20 World Cup 2024

For the highly anticipated Twenty20 World Cup, which will take place in June, the well-known Indian dairy firm Amul has been selected as the Lead Arm sponsor for both the United States of America and South Africa cricket teams.

The United States of America’s First Tournament and Amul’s Support

Beginning on June 1, the United States of America Cricket team will be participating in the Twenty20 World Cup for the first time.

They will be co-hosting the prestigious competition. Caribbean countries will play host to a portion of the competition, which will include both the semifinals and the finals.

Due to the fact that Amul is a dairy juggernaut with a global impact and that its goods, notably Amul milk, are now being sold in the United States, the sponsorship of the United States team by Amul is of particular significance.

Jayen Mehta, the Managing Director of Amul, expressed his delight by saying, “The goodness of Amul Milk will empower the United States of America Cricket team to win hearts and laurels from all over the world.”

To the team, we send our warmest wishes for success in the next ICC Twenty20 World Cup in 2024.

Amul’s involvement with cricket extends beyond the United States team, as they have also been named the Lead Arm sponsor for the South African side.

South Africa is strengthening their ties with Amul. Previous engagements between the two parties, such as sponsorships for the One-Day International series in 2019 and the ICC Cricket World Cup in 2023, serve as the foundation for this alliance.

Mehta underscored the significance of this connection by stating, “Amul has been associated with the South Africa team in the 2019 One-Day International series and the 2023 ICC Cricket World Cup.”

It gives us great pleasure to further develop our relationship with the South African men’s cricket team, and we wish them the very best of luck in the Twenty20 World Cup.