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Current Affairs Daily Digest – May 30 2024

1. P Santhosh Takes the Helm as MD & CEO of NARCL

P Santhosh has been named the new managing director and CEO of India’s state-owned bad bank, the National Asset Reconstruction Company (NARCL).

This choice was made by NARCL’s board, which chose Santhosh to lead the asset-rebuilding company for three years.

From temporary leadership to a permanent role

Prior to his new job, Santhosh was NARCL’s acting CEO from January 2024 until his official hiring.

This was because N Sundar quit without warning before the end of his term. Santhosh stepped in to lead during the leadership void. The board seems to have been pleased with his work during this time, which is why he was recommended for the top job.

2. Indian Army and IOCL Join Forces for Hydrogen Fuel Cell Bus Technology Trials

The Indian Army and the Indian Oil Corporation Limited (IOCL) are working together to test the Hydrogen Fuel Cell Bus technology.

This partnership shows that the Army is serious about new ideas and caring for the earth.

A formal agreement was signed.

A formal Memorandum of Understanding (MoU) was signed between the Indian Army and IOCL, which started a good relationship for both sides.

The deal was signed by General Manoj Pande, who is the respected Chief of the Army Staff (COAS), and Mr. Shrikant Madhav Vaidya, who is the respected Chairman of Indian Oil.

Bus for Hydrogen Fuel Cell Received

The Indian Army got its first Hydrogen Fuel Cell Bus during the event, which marked the start of the showcase trials.

Use of hydrogen as a clean and efficient fuel source by this cutting-edge technology could completely change the way people travel.

3. Sony Appoints Disney Veteran Gaurav Banerjee as New India CEO

Japanese electronics and entertainment company Sony has hired Gaurav Banerjee, a seasoned executive from Walt Disney, as its new Chief Executive Officer for India operations.

This strategic move strengthens Sony’s position in India’s growing media scene.

Moving on from Disney’s Hotstar

Before being hired, Banerjee was the Head of Content for the popular streaming service Hotstar and the Head of Business for the company’s Hindi-speaking TV channels.

He recently quit his job at Disney’s India business.

4. India Successfully Tests Anti-Radiation Missile ‘Rudram-II’

India reached a major milestone when the anti-radiation missile Rudram-II, which was made in India, passed its flying test.

This missile, which was fired from a Su-30 MKI fighter plane off the coast of Odisha, is going to be very useful for the Indian Armed Forces. It will help them do more in tasks to destroy enemy air defences (SEAD).

Growing and Getting Better

DRDO made the Rudram-II, which is a big step forward in India’s defence powers.

It is a very useful tool for SEAD missions because it can hit enemy radars and communication stations on the ground. With its solid-propelled air-launched system, Rudram-II provides better accuracy and adaptability, able to destroy a wide range of enemy assets.

Notably, it has an internal tracking system that lets it find targets on its own after launch.

5. International Everest Day 2024 Observed on May 29

International Everest Day is May 29. It is a day to remember Tenzing Norgay from Nepal and Edmund Hillary from New Zealand, who were the first people to climb the difficult Mt. Everest in 1953.

They made history by completing this amazing feat, inspiring many explorers and mountain climbers.

How a Tradition Began

The holiday known as International Everest Day has its roots in 2008, the year Edmund Hillary died.

Nepal then made May 29 a holiday to honor Norgay and Hillary’s actions. Since it began, this yearly event has grown into a worldwide celebration of the strength, endurance, and never-ending desire to explore.

6. India Assumes Chair of Colombo Process for 2024-26

India is now in charge of the Colombo Process for the first time since the group started meeting in 2003.

Twelve South and Southeast Asian countries make up the Colombo Process, a regional consultative group whose main goal is to improve the management of overseas jobs and the safety of migrant workers.

Pushing for legal, safe, and orderly migration

Randhir Jaiswal, a Ministry of External Affairs (MEA) spokesman, said on “X” that India will lead the Colombo Process from 2024 to 2026.

The group wants to encourage member states to let people move between them safely, legally, and orderly.

7. PFC wins “CSR Champion Award” for sustainability efforts.

The Non-Fossil Fuel CSR Champion Award went to Power Finance Corporation at the Outlook Planet Sustainability Summit 2024 in Goa.

V. Srinivas gave the award to Smt. Parminder Chopra, who is the Chairperson and Managing Director of PFC.

PFC’s important corporate social responsibility projects focus on health, sanitation, education, the environment, job development, and giving disabled people more power.