Current Affairs - May 16, 2024 Current Affairs

Sebi has extended the deadline for LIC to meet the minimum public shareholding requirement to May 16, 2027. The target set by Sebi is for LIC to achieve a 10% public shareholding. As of March 31, 2024, LIC's public shareholding stands at 3.5%, necessitating substantial divestment to comply with this regulatory requirement. This extension is intended to provide LIC with ample time to increase its public shareholding from the current 3.5% to the mandated 10%. The stock market reacted positively to this news, with LIC’s stock price increasing by 6.3% on the BSE.

The International Day of Light was established by UNESCO to highlight the significance of light and light-based technologies in various aspects of life. Celebrated annually on May 16, it commemorates the first successful operation of the laser by Theodore Maiman in 1960. UNESCO adopted the resolution for this observance in 2016 following the success of the International Year of Light in 2015. The day aims to promote scientific collaboration and awareness of light's role in fields like arts, culture, education, medicine, and sustainable development, fostering innovation and appreciation for light’s impact on society.

The Transplantation of Human Organs & Tissues Act (THOTA) was enacted in India in 1994 to regulate organ transplantation and prevent commercial trading of organs, ensuring that donations are based on altruism and close relationships between donors and recipients.

PhonePe has partnered with LankaPay to enable UPI payments in Sri Lanka, allowing users to transact at LankaPay QR merchants. This initiative aims to provide a familiar and secure payment method for Indian tourists and business travellers, enhancing their convenience while travelling in Sri Lanka.

The Indian Air Force tested the BHISHM portable hospital in Agra, which is part of "Project BHISHM." This initiative aims to provide rapid and comprehensive medical aid during emergencies. The portable hospital includes modern technologies and can be set up quickly, emphasizing swift response and extensive care for up to 200 casualties.

OpenAI introduced GPT-4o, their latest large language model, as their fastest and most powerful AI model to date. GPT-4o is designed to enhance human-computer interactions by integrating text, audio, and image inputs, demonstrating significant advancements in processing speed, efficiency, and multimodal capabilities.

Sunil Chhetri, India’s most decorated footballer, has announced his retirement from international football. His final match will be the FIFA World Cup Qualifier against Kuwait in Kolkata on June 6. Chhetri’s career began in 2002 with Mohun Bagan and included stints in the USA and Portugal before returning to play for top Indian clubs like Bengaluru FC. He led India to victories in the Nehru Cup, SAFF Championship, and the AFC Challenge Cup, making him a key figure in Indian football. Chhetri is the third-highest active international goal-scorer with 94 goals in 150 appearances.

David Salvagnini has been appointed as NASA’s Chief Artificial Intelligence (AI) Officer, in addition to his role as Chief Data Officer. His appointment underscores NASA’s commitment to the responsible use of AI technology in its missions and research projects, aligning with President Biden’s directive on AI development and use.

Ruskin Bond, an eminent English author known for his extensive body of work including over 300 short stories, essays, and novels, was awarded the prestigious Sahitya Akademi Fellowship. He has received several other accolades throughout his career, including the Sahitya Akademi Award, Padma Shri, and Padma Bhushan for his contributions to literature.

The International Day of Living Together in Peace is celebrated annually on May 16. This day was established by the United Nations General Assembly to promote peace, unity, and solidarity worldwide. It emphasizes the importance of living together harmoniously, fostering reconciliation, and encouraging dialogue and mutual understanding to resolve conflicts. The observance highlights the need for collaborative efforts in establishing a sustainable and peaceful world through acts of service, forgiveness, and compassion among individuals and nations. The 2024 celebration of this day falls on a Thursday.

Sikkim Statehood Day is celebrated on May 16th to commemorate the day in 1975 when Sikkim became the 22nd state of India. This historic event marked the end of the monarchy and the full integration of Sikkim into the Indian Union.

The Indian Pavilion at the World Hydrogen Summit 2024 in Rotterdam, Netherlands, highlighted India's progress in green hydrogen initiatives, including the National Green Hydrogen Mission and efforts to promote a sustainable hydrogen ecosystem.