International News

China Sanctions US Defence Firms Over Taiwan Arms Sales

• China has imposed sanctions on Boeing and two other US defense companies due to their involvement in arms sales to Taiwan.
• This action, coinciding with Taiwan’s presidential inauguration, underscores the ongoing tensions related to China's territorial claims.

Economy News

RXIL’s TReDS Platform Surpasses INR 1 Trillion in MSME Invoice Financing

• India’s MSME sector, which contributes over 30% to the GDP and employs around 12 crore people, faces a significant credit gap of approximately Rs. 28.2 lakh crores.
• RXIL’s Trade Receivables Discounting System (TReDS) platform has reached a major milestone by facilitating the financing of over 50 lakh invoices worth ₹1,00,000 crore since its inception.
• This achievement highlights the platform's vital role in providing accessible working capital financing solutions to MSMEs, essential for economic growth and India's journey towards a Rs. 5 trillion economy.

Appointments News

RBI Approves Appointment of Pradeep Natarajan as IDFC FIRST Bank’s Whole Time Director

• The Reserve Bank of India (RBI) has approved the appointment of Pradeep Natarajan as Whole Time Director on the Board of IDFC FIRST Bank.
• This approval, granted for a three-year tenure, marks a significant development for the private sector lender and emphasizes the bank’s dedication to strengthening its leadership team.

Sports News

Ronaldo Tops Forbes’ List of Highest-Paid Athletes Again

• Cristiano Ronaldo, despite approaching the later stages of his career, has once again topped Forbes’ list of the world's highest-paid athletes.
• His substantial earnings in Saudi Arabia have propelled him to this position for the fourth time.

Important Day

World Bee Day 2024:

• World Bee Day, celebrated on May 20, commemorates the birth anniversary of Anton Janša, a pioneer in beekeeping.
• Established by the United Nations in 2017, this day emphasizes the crucial role bees play in ensuring food security, biodiversity, and sustainable agriculture.
• The theme for 2024, “Bee engaged with Youth,” highlights the importance of involving young people in bee conservation efforts to safeguard these essential pollinators.