GK Capsule May 2022

Endeavor GK Capsule May 2022

Welcome to Endeavor’s GK capsule for the month of May 2022.

The month of May saw a change in leadership for many nations including Australia, France, Sri Lanka, and South Korea among others. In this edition, we discuss this and other news such as The World Economic Forum’s Annual Meeting that was conducted in Davos, The Federal Reserve’s announcement of raising the benchmark rate by 50 bps; the biggest rate increase since 2000, increase in Repo rate and Cash Reserve Ration (CRR) announced by RBI to curb the rising inflation, export ban imposed on Wheat by the Indian government, strengthening of economic ties between US and India as indicated by the significant increase in bilateral trade between the two nations, Flash floods and landslides in Assam that displaced nearly 6 lakh people, Rafael Nadal’s victory at the French Open and Gujarat Titans being crowned champions of the TATA Indian Premier League (IPL).

Under the category of Persons in News, Elisabeth Borne was appointed France’s new Prime Minister in May to become the second woman to hold the post in the country after Edith Cresson, who was prime minister from 1991-1992 under Socialist President Francois Mitterrand.

Anthony Albanese, the leader of the Australian Labor Party and the leader of the opposition has assumed the position of Australia’s 31st Prime Minister.

Ranil Wickremesinghe was sworn in as the 26th prime minister of Sri Lanka.

Ferdinand Marcos Jr. was elected the 17th president of the Philippines.

South Korean President Yoon Suk-yeol was sworn in as the president of South Korea in May replacing Moon Jae-in.

Under the section Places in News, Ramgarh Vishdhari Wildlife Sanctuary in Rajasthan was recently notified as India’s 52nd tiger reserve. It is now Rajasthan’s fourth tiger reserve, after Ranthambore, Sariska, and Mukundra.

Under the category of National News, The Jammu and Kashmir Delimitation Commission has notified the new boundaries, names, and the number of Assembly constituencies in Jammu and Kashmir, paving the way for the first-ever Assembly elections in the Union Territory that was carved out of the erstwhile State of J&K in 2019.

The Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates came into force on May 1. This would allow 90% of the country’s exports duty-free access to the Emirates.

In the field of Business, Economy, and Industrial sectors, in a surprise media briefing on May 4, the Reserve Bank of India (RBI) governor announced that key policy rates have been hiked. As per the announcement made, the RBI has hiked the repo rate by 40 bps up to 4.40% from 4% earlier.

Under the Sports section, The Gujarat Titans (GT) were crowned champions of the TATA Indian Premier League (IPL) 2022 after defeating the Rajasthan Royals (RR) by 7 wickets at the Narendra Modi Stadium in Ahmedabad.

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