PhonePe Launches UPI in Sri Lanka in Partnership with LankaPay

In a significant move, PhonePe has joined forces with LankaPay to introduce UPI payments in Sri Lanka. This collaboration allows PhonePe users to seamlessly utilize UPI for transactions across LankaPay QR merchants, providing them with familiarity and security while traveling. The partnership aims to enhance the payment experience for Indian tourists and business travelers in Sri Lanka, while also offering a cost-effective solution for merchants. The initiative received commendation from key figures including PhonePe’s CEO, Ritesh Pai, LankaPay CEO Channa de Silva, and Sri Lankan Central Bank Governor Nandalal Weerasinghe.

Key Highlights of the Collaboration

UPI Payments in Sri Lanka

PhonePe users can now make payments using UPI at LankaPay QR merchants, eliminating the need for cash and currency conversions.

Enhanced Convenience for Indian Tourists

The collaboration aims to offer unparalleled convenience to Indian tourists by providing a familiar and secure payment method during their stay in Sri Lanka.

Support from Key Figures

Notable figures such as Santosh Jha, the High Commissioner of India to Sri Lanka, emphasized the importance of digital partnerships between the two countries and the transformative potential of such initiatives.

Panel Discussion on Digital Payments

As part of the launch event, a panel discussion titled ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses’ was held. Key stakeholders from Sri Lanka’s banking, tourism, and business sectors deliberated on leveraging digital payment technologies to stay competitive in an evolving economic landscape. Participants included representatives from National Savings Bank, Hatton National Bank PLC, LOLC Finance PLC, and Dialog Finance PLC, among others.

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International Day of Light 2024: Celebrating the Power of Light

The International Day of Light is an annual celebration established by UNESCO to recognize the significance of light and light-based technologies in revolutionizing our society and various aspects of our daily lives.

Date and Origin

The International Day of Light is observed annually on May 16th, commemorating the first successful operation of the laser by physicist and engineer Theodore Maiman in 1960. This year, it falls on Thursday, May 16, 2024, under the theme of “Light in Our Lives,” to let the light guide us the way forward.

The origin of the International Day of Light can be traced back to 2015, when the United Nations observed the International Year of Light and Light-based Technologies (IYL 2015) to raise awareness of the achievements of light science and its applications worldwide.

Following the success of IYL 2015, the UNESCO Executive Board adopted a resolution that supported the notion of an International Day of Light on September 19, 2016. The first-ever IDL was held on May 16, 2018.

Significance and Celebrations

The purpose of this day is to encourage scientific collaboration and explore the possibilities of light-based technologies to promote peace and sustainable development.

The celebration offers various sectors of society around the world the opportunity to engage in activities that showcase how science, technology, art, and culture can contribute to achieving the goals of UNESCO. These goals include establishing the groundwork for peaceful societies.

The International Day of Light provides an opportunity to raise awareness about the essential role that light plays in our lives while highlighting its significance in shaping our world and inspiring future innovations.

Highlighting Light’s Impact

Light has played a crucial role in various fields, including arts and culture, education, medicine, communications, science, and sustainable development. The day aims to highlight the impact of light and light-based technologies on these fields and encourage further research and development.

Celebrations often include educational events, exhibitions, workshops, and demonstrations that explore the properties of light and its applications in different areas of life. These events bring together scientists, educators, artists, and the general public to foster a greater appreciation for the importance of light.

The International Day of Light serves as a reminder of the power of light and its potential to shape our future. It encourages collaboration and innovation in light-based technologies, ultimately contributing to a more sustainable and enlightened world.

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Top-10 Most Consumed Edible Oils in the World 2024

Edible oils are indispensable in kitchens globally, serving as vital ingredients for cooking, flavoring, and preserving foods. From the rich heritage of olive oil in Mediterranean cuisine to the versatile applications of palm oil in diverse culinary traditions, these oils play pivotal roles in shaping the flavors and textures of dishes worldwide. Let’s embark on a journey to explore the top 10 edible oils consumed across the globe.

Most Consumed Edible Oils in the World 2024

In 2024, global edible oil consumption reflects a diverse mix of culinary traditions and dietary preferences. Palm oil remains a dominant choice for its versatility, while soybean oil maintains its popularity in processed foods. Sunflower oil’s light flavor makes it a staple, alongside the rich flavors of olive oil. Canola oil stands out for its health benefits, while coconut oil retains its appeal despite health debates. Peanut oil, corn oil, sesame oil, and safflower oil also feature prominently in kitchens worldwide.

Most Consumed Edible Oil in the World 2024

Palm oil reigns as the foremost cooking oil globally, prized for its distinctive red hue and semi-solid state at room temperature. Indonesia and Malaysia dominate palm oil production, integrating it deeply into their agricultural and economic strategies. Extracted from the fruit of the oil palm tree, it boasts a neutral to mildly nutty aroma and a balanced composition of saturated and unsaturated fats. Despite concerns over its environmental impact and high saturated fat content, palm oil remains indispensable in cooking, baking, frying, and various industrial applications like cosmetics and biofuel production. Efforts towards sustainable production are underway, aiming to address deforestation and biodiversity concerns associated with its cultivation. Varieties include crude, refined, organic, and sustainable palm oil.

Top-10 Most Consumed Edible Oils in the World 2024

Palm Oil with the annual consumption of 75.98 million metric tons, stands as the most consumed edible oil in the world, followed by Soyabean Oil, Rapeseed Oil and Sunflower Seed Oil.

Here is the list of top-10 most consumed edible oils in the world 2024:

Top-10 Most Consumed Edible Oils in the World 2024
Rank Edible Oil Annual Consumption (in million metric tonnes)
1. Palm Oil 75.98
2. Soybean Oil 75.39
3. Rapeseed Oil 28.15
4. Sunflower Seed Oil 20.83
5. Palm Kernel Oil 8.013
6. Peanut Oil 6.512
7. Cottonseed Oil 5.513
8. Corn Oil 3.38
9. Olive Oil 3.37
10. Coconut Oil 2.61

Most Consumed Edible Oil in the World – Palm Oil

Edible Oil consumption: 75.98 million metric tons

Uses: Widely used in food products, cosmetics, and biofuels. Major economic importance for Indonesia and Malaysia.

Palm oil stands as the world’s most consumed cooking oil, recognized for its iconic red hue and semi-solid consistency at room temperature. Indonesia and Malaysia are pivotal players in palm oil production, integrating it deeply into their agricultural and economic frameworks. Derived from the oil palm tree’s fruit, it offers a neutral to mildly nutty aroma and a balanced blend of saturated and unsaturated fats. Despite concerns over environmental impact and saturated fat content, palm oil finds widespread use in cooking, baking, frying, and industrial applications like cosmetics and biofuels. Efforts toward sustainable production aim to address deforestation and biodiversity challenges. Varieties include crude, refined, organic, and sustainable palm oil.

Second Most Consumed Edible Oil in the World – Soybean Oil

Consumption: 75.39 million metric tons

Uses: Versatile oil is used in cooking, biodiesel production, and industrial applications like paints and inks.

Soybean oil emerges as the second most consumed edible oil globally, prized not only for its culinary versatility but also its role in alternative fuel production, notably green diesel. Extracted from soybeans predominantly cultivated in China, the US, Brazil, and Argentina, it boasts a mild soybean scent and a pale yellow hue. Composed mainly of unsaturated fats, it finds applications in cooking, frying, baking, and beyond, including biodiesel production, paints, and inks. Despite its nutritional benefits, concerns linger regarding its high omega-6 content and sustainability issues like deforestation and monoculture farming. Varieties range from regular and refined to organic and non-GMO soybean oil.

World’s Third Most Consumed Edible Oil- Rapeseed Oil

Consumption: 28.15 million metric tons

Uses: Low saturated fat content makes it popular for cooking. Also used in biodiesel production.

Canola oil, derived from rapeseed plants, ranks as the third most consumed edible oil globally, favored for its health benefits and versatility in cooking. Canada leads in canola production, followed by China, India, and France. With its neutral aroma and pale yellow appearance, it contains mostly unsaturated fats, making it a heart-healthy choice. Canola oil’s low saturated fat content and high levels of omega-3 and omega-6 fatty acids appeal to health-conscious consumers. While generally considered safe, concerns may arise from GMO varieties. Despite sustainability efforts, challenges persist regarding monoculture farming. Varieties include refined, cold-pressed, and organic rapeseed oil.

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LIC Granted 3-Year Extension by Sebi to Achieve 10% Public Shareholding

In a move aimed at granting additional time to Life Insurance Corporation (LIC) of India to meet regulatory requirements, the Securities and Exchange Board of India (Sebi) has extended LIC’s deadline to achieve a minimum 10% public shareholding. LIC, a state-owned insurance giant, now has until May 16, 2027, to fulfill this obligation.

Key Details

Extension Granted

  •  Sebi has provided LIC with a three-year extension, allowing the company to increase its public shareholding to 10% within a five-year period from its listing date.

Market Response

Following the announcement, LIC’s stock surged by 6.3% on the Bombay Stock Exchange (BSE), closing at Rs 989.8 per share, despite broader indices experiencing a slight decline.

Current Status

  •  As of March 31, 2024, LIC’s public shareholding stands at 3.5%, indicating that significant divestment is still required for compliance.

Background

Listing Date

  •  LIC was listed on May 17, 2022, triggering the initial requirement for achieving a 10% public shareholding within three years.

Government Intervention

  •  In December, the finance ministry granted LIC a one-time exemption from the 25% public shareholding rule for a period of 10 years. This exemption aimed to alleviate the pressure on LIC to comply with stringent regulatory norms.

Remaining Divestment

  •  The government still needs to divest an additional 6.5% of its stake in LIC over the next three years to enable LIC to reach the 10% shareholding threshold.

This extension underscores the complexities involved in transitioning a state-owned behemoth like LIC towards greater public ownership while balancing regulatory requirements with market dynamics.

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International Day of Living Together in Peace 2024

The International Day of Living Together in Peace is an annual observance held on 16 May every year. Established by the United Nations General Assembly, this day aims to support global efforts in promoting peace, unity, and solidarity among nations and individuals.

The Significance of Living Together in Peace

The declaration for this day is based on the premise that peace is not merely the absence of conflict but a positive and dynamic process that requires an active and participatory role from all. It encourages dialogue and mutual understanding as means of resolving conflicts and fostering cooperation.

The International Day of Living Together in Peace highlights the importance of living and acting together to establish a sustainable world of peace, solidarity, and harmony. It emphasizes the need for countries to work together to promote reconciliation and sustainable development through acts of service, forgiveness, and compassion among individuals.

International Day of Living Together in Peace 2024 Date

This year, the International Day of Living Together in Peace will be celebrated on Thursday, 16 May 2024.

Theme for 2024

The theme for the International Day of Living Together in Peace 2024 is not known yet.

History and Significance

The United Nations was founded after the Second World War with the aim of protecting future generations from the devastating effects of war. The organization has achieved remarkable success in promoting international cooperation and addressing a wide range of global challenges.

In 1997, the UN General Assembly proclaimed the year 2000 as the International Year for a Culture of Peace. In 1998, it declared the period 2001-2010 as the International Decade for a Culture of Peace and Non-Violence for Children of the World. In 1999, the General Assembly adopted the Declaration and Programme of Action on a Culture of Peace, which serves as the universal mandate for the international community, particularly the United Nations system, to promote a culture of peace and non-violence that benefits all of humanity, including future generations.

The United Nations has played a leading role in the prevention and resolution of conflicts, the promotion of peace and security, and the protection and promotion of human rights.

This day serves as a reminder of the importance of fostering a culture of peace, understanding, and cooperation among nations and individuals, and encourages everyone to contribute towards building a more peaceful and harmonious world.

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Which District is the Entry Point of Yamuna River?

Uttar Pradesh, a state known for its rich cultural heritage and religious sites, boasts several significant rivers, among which the Ganges and the Yamuna hold special reverence. These rivers not only hold cultural significance but also serve as major sources for drinking water and irrigation in India. While it is common knowledge that the Yamuna River merges with the Ganges at Prayagraj, Uttar Pradesh, many may not know from which district the Yamuna enters the state. This article aims to shed light on this lesser-known aspect.

Where Does the Yamuna Originate?

The Yamuna River originates from the Yamunotri Glacier, located in Uttarkashi district of Uttarakhand, India. It emerges from the Himalayas, near the holy shrine of Yamunotri, and flows through the picturesque valleys of Uttarakhand before entering the plains. This glacier-fed river holds immense religious significance in Hinduism and serves as a vital water source for millions of people as it journeys through various regions of North India.

Yamuna, a Major Tributary of Ganga River

The Yamuna River is a significant tributary of the Ganges, flowing parallel to it through Uttar Pradesh, India. After entering the state, it merges with the Ganges at Prayagraj, forming a confluence considered sacred by Hindus. The Yamuna contributes to the Ganges’ flow and holds cultural and religious importance in the region.

Tributaries of the Yamuna River

Several rivers act as tributaries to the Yamuna. On its right bank, it is joined by rivers like the Chambal, Sindh, Betwa, and Ken. On the left bank, tributaries include the Tons, Hindon, Sharda, Kandak, Giri, Rishi Ganga, and Hanuman Ganga.

Which Districts is the Entry Point of Yamuna River in Uttar Pradesh?

The Yamuna River enters Uttar Pradesh from the Saharanpur district. This marks the transition of the river from the Himalayan foothills to the plains of the Doon Valley. Saharanpur, Uttar Pradesh’s northernmost district, is renowned for its woodworking industry and is home to the state’s first Elephant Reserve. Additionally, it hosts the annual Shakumbhari Mela, further adding to its cultural significance.

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TCS Unveils Global AI Centre of Excellence in France

In a significant move, Tata Consultancy Services (TCS) has announced the creation of a Global Artificial Intelligence (AI) Centre of Excellence in the French capital, Paris. The announcement was made during the prestigious “Choose France Summit” hosted by President Emmanuel Macron, underscoring TCS’s commitment to the French market and the global AI landscape.

TCS PacePort: A Hub for Innovation

The new AI centre will be based in the upcoming TCS PacePort in the La Défense area of Paris, set to be inaugurated in June 2024. This state-of-the-art facility will become the seventh addition to TCS’ global Pace network, joining the ranks of innovation hubs in cities like Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo.

Harnessing Global Expertise for French Companies

The TCS AI Centre of Excellence in Paris will leverage the company’s global ecosystem of startups, academia, and research organizations to bring the best of global AI capabilities to French companies. This collaborative approach aims to tap into France’s deep talent pool in design and engineering, fostering the development of advanced human-centric AI technologies.

Pioneering AI Frontiers

Initially, the centre will focus on cutting-edge areas such as brain-computer interface, building empathy in machines, and unleashing the power of AI in arts and culture. Paris’s position as a global hub for culture, arts, and design will provide a unique advantage and impetus to these innovative initiatives.

Boosting Human-Centered AI Capabilities

According to Rammohan Gourneni, Country Head of TCS France, the new investments in the TCS PacePort and the AI Centre of Excellence demonstrate the company’s ongoing commitment to building capabilities in the most advanced technologies and delivering them to clients in France and globally.

The centre will initially focus on boosting human-centered AI capabilities for the banking and financial services, manufacturing, and consumer sectors. TCS plans to hire new talent and partner with universities to offer internships and projects, supporting France’s National AI Mission.

A Strategic Partnership for Innovation

TCS’s investment in the Global AI Centre of Excellence in France underscores the company’s recognition of the country’s thriving AI ecosystem and its strategic importance in the global technology landscape. By fostering collaboration between industry, academia, and research institutions, TCS aims to drive innovation and unlock the full potential of AI for businesses and society.

As the world embraces the transformative power of AI, TCS’s commitment to establishing a global centre of excellence in France positions the company as a key player in shaping the future of this rapidly evolving field.

Important Takeaways for All Competitive Exams:

  • Tata Consultancy Services (TCS) Established: 1968;
  • Tata Consultancy Services (TCS) MD and CEO: K. Krithivasan;
  • Tata Consultancy Services (TCS) is headquartered in Mumbai.

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Top-10 Rubber Producing States in India 2024

India’s rubber industry is a vital component of the nation’s agricultural and industrial sectors, catering to diverse industries such as automotive, construction, and textiles. In 2024, the country continues to strengthen its position as a major rubber producer. This article explores the top 10 states leading India’s rubber cultivation and production, highlighting their contributions to the nation’s rubber sector and their respective strengths in rubber farming.

Rubber Production in India

Currently, India possesses around 850,000 hectares of rubber plantations, with prominent states being Kerala, Tamil Nadu, Tripura, and Assam. The majority of rubber cultivation, accounting for approximately 500,000 hectares, is concentrated in the southern regions of Kerala and the Kanyakumari district in Tamil Nadu.

Largest Rubber Producing Indian State 2024

Kerala stands as India’s largest rubber-producing state, contributing to approximately 74% of the country’s rubber output. Despite a slight decline in natural rubber production from 5.40 lakh tonnes in 2017–18 to 5.33 lakh tonnes in 2019–20, Kerala maintains its dominance in the sector. The state’s tropical climate, characterized by abundant rainfall and high humidity, provides an ideal environment for rubber cultivation. With a rich history in rubber farming and significant economic contributions, it remains a vital source of employment and income for many in Kerala.

Top-10 Rubber Producing States in India 2024

Kerala with the rubber production of 4,90,460 tons, stands as the largest rubber producing Indian state, followed by Tripura, Karnataka, Assam and Tamil Nadu.

Here is the list of top-10 rubber producing states in India 2024:

Top-10 Rubber Producing States in India 2024
Rank State Rubber Production (in tons)
1. Kerala 4,90,960
2. Tripura 53,050
3. Karnataka 38,200
4. Assam 24,300
5. Tamil Nadu 21,500
6. Meghalaya 9,100
7. Nagaland 4,930
8. Manipur 1,850
9. Mizoram 750
10. Goa 625

Largest Rubber Producer in India – Kerala

Rubber production: 4,90,960 tonnes

Kerala, the largest rubber-producing state in India, accounts for about 74% of the country’s rubber production. Despite a slight decline in natural rubber output from 5.40 lakh tonnes in 2017–18 to 5.33 lakh tonnes in 2019–20, Kerala remains dominant in the sector. The state’s tropical climate, characterized by ample rainfall and high humidity, provides an ideal environment for rubber cultivation, contributing significantly to its economy through employment and income generation.

Second Largest State in terms of Rubber Production – Tripura

Rubber production: 53,050 tonnes

Tripura emerges as the second-largest rubber producer in India, situated in the northeastern region. Between 2017–18 and 2019–20, the state witnessed a notable increase in rubber production, with its share rising from 7.27% to 8.70% of the country’s total. Favorable agro-climatic conditions, including ample rainfall and suitable soil, support robust rubber cultivation. The state government’s initiatives, offering infrastructure development, technical support, and subsidies, further bolster rubber farming, leading to steady expansion of plantations across Tripura.

India’s Third Largest Rubber Producing State – Karnataka

Rubber production: 38,200 tonnes

Karnataka ranks as the third-largest rubber producer in India, annually yielding 38,200 metric tons and significantly contributing to the country’s rubber output. With 28,830 hectares dedicated to rubber cultivation, the state showcases the extensive scale of rubber farming. Districts like Dakshina Kannada, Shivamogga, and Chikmagaluru are key contributors, benefiting from favorable conditions like well-drained loamy soils at elevations of 300 to 450 meters above sea level. Rubber cultivation serves as a crucial cash crop for Karnataka farmers, supported by government initiatives aimed at promoting its cultivation statewide.

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Chandrakant Satija Honoured with Global Excellence Award 2024

In a prestigious ceremony held at the Sahara Star Hotel in Mumbai on May 12th, Chandrakant Satija, the renowned educationist and Founder/CEO of Chandra Admission Consultants, was honored with the Global Excellence Award 2024. The award, presented by the famous Bollywood actress Shilpa Shetty Kundra, recognized Satija as the Most Trusted Admissions Consultant in the Vidarbha Region.

A Veteran in Guiding Students’ Careers

With over 21 years of experience in the education sector, Chandrakant Satija has dedicated himself to providing quality education, career counseling, and admission guidance to students. His unwavering commitment has earned him the trust of parents not only in Vidarbha but also in adjoining cities of Chhattisgarh and Madhya Pradesh.

Chandra Admission Consultants: Paving the Way to Success

Chandra Admission Consultants, Satija’s firm, specializes in securing admissions for various courses, including MBBS, BTech, MBA, BBA, and Law, in prestigious institutions across India and abroad. The firm’s expertise and personalized approach have helped countless students achieve their academic dreams.

Empowering Students with Informed Choices

Chandrakant Satija’s hard work and dedication have earned him the recognition and trust of the people of Vidarbha and beyond. His firm’s commitment to assisting students in making informed decisions about their careers and securing admissions in top universities and colleges has set a benchmark in the industry.

A Trusted Beacon for Students’ Future

Chandra Admission Consultants’ services extend beyond mere admissions guidance. The firm provides comprehensive support, including career counseling, to ensure students are well-equipped to navigate the complexities of higher education and make the most of their academic journey.

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HDFC Bank Introduces Pixel Play: India’s Premier Virtual Credit Card with Visa

In a groundbreaking move, HDFC Bank has rolled out Pixel Play, the nation’s inaugural virtual credit card partnered with Visa. Offering two distinct variants, Pixel Play and Pixel Go, this innovative card empowers users to craft personalized cards tailored to their lifestyle preferences and chosen merchants, all through the bank’s PayZapp mobile app. With streamlined digital management and a suite of features including card controls, rewards, and EMI dashboards, HDFC Bank sets a new standard for seamless banking experiences.

Tailored Benefits and Seamless Management

Pixel Play Credit Card stands out for its unique feature set, allowing users to select benefits, offers, and designs that resonate with their individual needs. This 100% digital offering eliminates the need for extensive documentation or communication, making the application process hassle-free. Additionally, users enjoy the flexibility of choosing their preferred billing cycle date and can easily convert purchases to EMI, managing repayments effortlessly via PayZapp.

Expanding Horizons with Visa

As the first virtual credit card launched by HDFC Bank in collaboration with Visa, Pixel Play opens doors to a new era of digital banking. While currently available exclusively on the Visa network, HDFC Bank has plans to extend this offering to other networks in the near future. This strategic partnership not only enhances customer convenience but also signifies HDFC Bank’s commitment to innovation and customer-centric solutions.

Milestone Achievement: 2 Crore Cards and Counting

This milestone launch comes on the heels of HDFC Bank’s historic achievement in January 2024, becoming the first bank in India to surpass 2 crore credit cards in circulation. Having pioneered the credit card business in 2001, HDFC Bank’s exponential growth underscores its position as a leader in the banking industry. With Pixel Play, the bank continues to push boundaries, setting new benchmarks for excellence in digital banking solutions.

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