1 Indian cinematographer Santosh Sivan honored at the 77th Cannes
The 77th Cannes Film Festival concluded on 25 May. This time, while 4 Indian filmmakers received awards, on the other hand, India’s world famous cinematographer Santosh Sivan was awarded the prestigious ‘ Pierre Agenaux Excellence in Cinematography ‘ honor of Cannes 2024. Along with this, Estonia’s young cinematographer Kadri Koop was awarded the Special Encouragement Award . ‘ Agenaux ‘ , a company that makes cameras and modern lenses for shooting films, is the official partner of the Cannes Film Festival. The Agenaux company was the first to invent the SLR (single lens reflex) camera and zoom lens. Not only this, the camera of this company sent close-up pictures of the surface of the moon for the first time on 31 July 1964 in NASA’s Ranger 7 moon mission.
2 IIT Madras creates history, launches Agni – world’s first rocket with 3D printed engine
Agnikul Cosmos , a startup from the Indian Institute of Technology Madras , has achieved a remarkable feat by launching the world’s first rocket with a single-piece three-dimensional (3D) printed engine. The rocket Agnibaan Sorted i.e. Suborbital Technological Demonstrator is also India’s first semi-cryogenic engine-powered rocket launch . It has been completely indigenously designed and manufactured. The rocket was launched from India’s first privately developed launch pad ‘ Dhanush ‘ established by Agnikul at Sriharikota in Andhra Pradesh . The test flight aims to demonstrate indigenous technologies, collect critical flight data and ensure optimal functioning of the system for Agnikul’s orbital launch vehicle, ‘ Agnibaan ‘. Congratulating Agnikul Cosmos on the successful launch of ‘ Agnibaan – Sorted ‘, Chairman of the Indian Space Research Organisation S. Somnath said that this achievement inspires the organisation to support space startups and non-governmental entities for innovation and self-reliance to create a vibrant space ecosystem in the country. Agnibaan is a two-stage rocket. It has the capability to carry a load of 300 kg to a height of 700 km. The rocket engines are powered by liquid oxygen and kerosene.
3 Indian Air Force will show its power in war exercise in Alaska, USA
An Indian Air Force contingent arrived at the US Air Force’s Eielson Air Force Base in Alaska, USA . The Air Force contingent has gone to participate in the upcoming edition of the multinational combat exercise Red Flag 24. The Indian Air Force said that IAF Rafale fighter jets with support of its IL-78 air-to-air refuellers and C-17 transport aircraft flew a transatlantic flight with halts in Greece and Portugal. Ex Red Flag is a two-week advanced air combat training exercise aimed at enhancing synergy among multinational military members.
4 The government has increased the maximum limit of retirement gratuity and death gratuity from Rs 20 lakh to Rs 25 lakh
The government has increased the maximum limit of retirement gratuity and death gratuity from Rs 20 lakh to Rs 25 lakh . The Ministry of Personnel, Public Grievances and Pensions has issued an official memorandum in this regard. It said that the revised limit will be applicable from January 1, 2024.
5 Reserve Bank of India projected economic growth rate to be 7 percent in the current financial year
The Reserve Bank of India has projected the economic growth rate to be 7 percent in the current financial year. In the annual report, the bank has said that the real GDP growth rate for the year 2024-25 is estimated to grow uniformly by 7 percent. The central bank said that the Indian economy grew at a strong pace in FY 2024. During this period, real GDP growth increased from 7 percent last year to 7.6 percent. The outlook for the country’s economy remains strong. The macroeconomic fundamentals and the corporate sector are strong, as well as the external economic sector also has the power to recover. According to the report, the central bank’s income increased by about 17 percent on an annual basis in FY 2023-24 due to a significant increase in interest income from foreign securities. On May 22 this year, the Central Board of Directors of the Reserve Bank of India approved giving Rs 2 lakh 11 thousand crore as surplus to the government for the financial year 2023-24.
6 RBI fines HSBC Bank for violating FEMA norms
The Reserve Bank of India (RBI) has imposed a fine of Rs 36.38 lakh on HSBC Bank for violating the provision of Foreign Exchange Management Act (FEMA) 1999. According to RBI, HSBC Bank failed to comply with the reporting requirements required under FEMA’s Liberalised Remittance Scheme. The Liberalised Remittance Scheme was introduced by RBI in 2004 under the Foreign Exchange Management Act 1999. Under the scheme, all resident individuals including minors can remit up to $2,50,000 abroad in a financial year (April to March) without permission from the Reserve Bank of India.
7 ADB approves $2.6 billion sovereign loan to India in 2023
The Asian Development Bank (ADB) has approved a sovereign loan of $2.6 billion to India in the calendar year 2023. The loan approved by ADB in 2023 will be used to finance urban development projects, boost the power sector, support industrial corridor development, support horticulture, enhance connectivity, and strengthen India’s climate resilience. Sovereign means supreme power and in India, the Government of India is sovereign. Thus, sovereign debt means a loan given to the Government of India. It also includes a loan that is given by ADB for a project in a state. The loan is originally given to the Government of India, and repayment of the loan is the responsibility of the Government of India, even if it is being used to implement a project in a state.
8 NASA’s Prefire Mission
Recently, the National Aeronautics and Space Administration (NASA) has launched a pair of small satellites called CubeSat to study heat emissions at the Earth’s poles . The PREFIRE (Polar Radiant Energy in the Far-Infrared Experiment) mission aims to address a critical gap in understanding the planet’s energy budget by studying heat emissions from the Earth’s poles. The mission consists of two CubeSats equipped with thermal infrared spectrometers and measuring infrared and far-infrared radiation emitted from the Arctic and Antarctica regions. Improvements can be seen in the accuracy of forecasts on future changes in heat exchange between Earth and space and their effects on ice melting, atmospheric temperature and global weather.
9 North Korea tested 10 ballistic missiles
On May 30, North Korea tested 10 ballistic missiles . This test was done in the East Sea (Sea of Japan). The armies of South Korea and Japan have also confirmed this and strongly condemned it. These missiles fell into the sea after covering a distance of about 350 kilometers. North Korea conducted the missile test during the talks on joint military exercises of South Korea, America and Japan. Earlier on March 14, North Korean President and dictator Kim Jong Un tested a tank. The United Nations (UN) has imposed sanctions on North Korea for testing nuclear and ballistic weapons.
10 Hindi Journalism Day
Hindi Journalism Day is celebrated every year on 30 May . The journey of Hindi journalism began with the publication of the first Hindi newspaper “ Udant Martand ” started by Pandit Jugal Kishore Shukla on 30 May 1826. This day is dedicated to the special contribution of Hindi journalists who work for the purpose of public welfare with truth and courage. The Hindi publication of Udant Martand proved to be a milestone in the history of Indian journalism. The newspaper started a new era of journalism in India and later had a great impact on society and culture. This increased awareness among people about journalism and increased the importance of Hindi newspapers in providing correct information to the citizens.