Today's Current Affairs 1st May 2024

INTERNATIONAL

Zimbabwe Introduced New Currency amid Skepticism

• Zimbabwe has launched a new currency called the ZiG (short for Zimbabwe Gold) in an attempt to address the country’s long-running currency crisis.
• The ZiG, backed by Zimbabwe’s gold reserves, was introduced electronically in early April and has now been released in banknote and coin form.
• Despite being the sixth currency since the collapse of the Zimbabwe dollar in 2009, the ZiG is already facing mistrust and rejection from some quarters. 

India and Europe to Strengthen 6G Collaboration

• India’s Bharat 6G Alliance is set to sign a cooperation agreement with Europe’s Industry Alliance 6G, following a similar agreement with the US. This partnership aims to foster collaboration in developing 6G technology. 

NATIONAL

Uttarakhand Suspends Licences of 14 Patanjali Ayurved Products

• The Uttarakhand government has suspended the manufacturing licenses of 14 products from Patanjali Ayurved, founded by Baba Ramdev, citing misleading advertisements about their efficacy. 

SCIENCE AND TECHNOLOGY

DRDO’s Supersonic Missile-Assisted Torpedo Delivery System Achieves Success

• The Defence Research and Development Organisation (DRDO) has achieved a significant milestone in enhancing India’s anti-submarine warfare capabilities with the successful flight-test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system.
• This next-generation torpedo delivery system was successfully flight-tested on May 01, 2024, at around 8:30 AM from Dr. APJ Abdul Kalam Island off the coast of Odisha. 

IMPORTANT DAYS

Gujarat Foundation Day 2024:

• Gujarat Day, celebrated on May 1st, commemorates the formation of the vibrant state of Gujarat on May 1st, 1960.
• Gujarat was carved out of the Bombay State on May 1, 1960, following the enactment of the Bombay Reorganisation Act. 

International Labour Day 2024 Celebrated on 1st May

• International Labour Day, also known as May Day or Workers’ Day, is celebrated on Wednesday, May 1st, 2024.
• The pivotal moment in labour history occurred on May 1st, 1886, in the United States, when labour unions initiated a strike advocating for an eight-hour workday.
• In India, the first May Day celebrations were organized in Chennai on May 1st, 1923, by the Labour Kisan Party of Hindustan, led by Comrade Singaravelar.

About International Labour Organization: 

Headquarters: Geneva, Switzerland;

Founded: 1919;

Gilbert F. Houngbo was elected as the ILO’s 11th Director-General. 

AWARDS AND RECOGNITION

Eminent Personalities Honoured with Prestigious Pandit Lacchu Maharaj Award

• Noted Hindi film superstars Hema Malini and Saira Banu, along with other prominent personalities from the fields of art and culture, will be honoured with the prestigious Pandit Lacchu Maharaj Award.
• The award ceremony will take place on 31 August 2024 in Lucknow, Uttar Pradesh. 

RANKING

Indian EdTech Giants Shine on TIME’s Global Ranking

• In a remarkable achievement, Emeritus, the Indian edtech startup, has secured the coveted top spot in TIME Magazine’s “World’s Top EdTech Companies of 2024” ranking. Founded in 2015 by Ashwin Damera and Chaitanya Kalipatnapu.
• Emeritus is not alone in this prestigious recognition, as the list features 14 more Indian edtech firms 

BANKING AND ECONOMY

India Reduces Windfall Tax on Petroleum Crude

• India has adjusted its windfall tax on petroleum crude, reducing it to 8,400 Indian rupees ($100.66) per metric ton from 9,600 rupees, effective May 1.
• This decision comes after a recent increase in the tax from 6,800 rupees to 9,600 rupees per metric ton on April 16.