GK Update 23rd & 24th May 2021

1. Rajesh Bansal appointed as CEO of Reserve Bank Innovation Hub

  • The Board of Reserve Bank Innovation Hub (RBIH) has appointed Rajesh Bansal as the chief executive officer (CEO) of the RBIH with effect from May 17, 2021, the RBIH said in a statement.
  • The Reserve Bank Innovation Hub would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.

2. Narinder Batra re-elected as FIH President

  • Narinder Batra has been re-elected as the President of the International Hockey Federation (FIH) for the second consecutive term.
  • He was elected during the virtual 47th Congress of FIH, where he beat Marc Coudron, Chief of Belgium Hockey Federation, by just two votes.
  • He will hold the office until 2024 because the FIH has reduced the term from four to three years.
  • The veteran Indian sports administrator is the only Asian to be appointed to the top post in the world body’s 92-year-old history.
  • He is also the President of the Indian Olympic Association (IOA) and a Member of the International Olympic Committee (IOC).

Important takeaways for all competitive exams:

  • International Hockey Federation (FIH) Headquarters: Lausanne, Switzerland;
  • International Hockey Federation CEO: Thierry Weil;
  • International Hockey Federation Founded: 7 January 1924.

3. Himanta Biswa Sarma elected to BWF Council

  • The Badminton Association of India (BAI) President Himanta Biswa Sarma has been elected as a Member of the c for the period 2021-25.
  • Sarma was elected among 31 contestants to the 20-member BWF Council on May 22, 2021, at the virtual AGM and Council election of BWF, where he got 236 votes in favour. He is also the Vice President of Badminton Asia and the Chief Minister of Assam.

Important takeaways for all competitive exams:

  • Badminton World Federation Headquarters: Kuala Lumpur, Malaysia;
  • Badminton World Federation President: Paul-Erik Hoyer Larsen.


4. Kotak Mahindra Bank issues India’s first FPI licence to GIFT AIF

  • Kotak Mahindra Bank has issued the first-ever foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global. This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country.
  • AIF is an important business vertical at GIFT IFSC and offers huge benefits and a competitive edge for setting up a fund in IFSC at GIFT City. In partnership with Kotak Mahindra Bank, True Beacon launched its first AIF in GIFT-City with PricewaterhouseCoopers(PWC) as consultants.

Important takeaways for all competitive exams:

  • Kotak Mahindra Bank is India’s first non-banking finance company which is converted into a bank;
  • Kotak Mahindra Bank Establishment: 2003 (Kotak Mahindra Finance Ltd. was established in 1985, converted to Kotak Mahindra Bank in 2003);
  • Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
  • Kotak Mahindra Bank MD & CEO: Uday Kotak;
  • Kotak Mahindra Bank Tagline: Let’s Make Money Simple.


5. Asia’s richest and second richest persons are now Indians

  • Billionaire Gautam Adani has edged past Chinese tycoon Zhong Shanshan to become the second-richest Asian, according to the Bloomberg Billionaire Index.
  • China’s Zhong was the richest Asian till February when he lost the crown to Mukesh Ambani, India’s richest person and chairman of Reliance Industries Ltd.
  • However, while Ambani lost $175.5 million this year, Adani’s wealth surged by $32.7 billion to touch $66.5 billion, against Zhong’s $63.6 billion.
  • Ambani’s total wealth now stands at $76.5 billion, making him the 13th richest in the world, followed by Adani at 14th.

Bloomberg Billionaires Index on May 21, 2021:

RankNameNet WorthCountry
 1Jeff Bezos$189BUS
 2Elon Musk$163BUS
3Bernard Arnault$162BFrance
 4Bill Gates$142BUS
 5Mark Zuckerberg$119BUS
  6Warren Buffet$108BUS
 7Larry Page$106BUS
 8Sergey Brin$102BUS
 9Larry Ellison$91.2BUS
10Steve Ballmer$89.2BUS
11Francoise Bettercourt Meyers$87.2BFrance
12Amancio Ortega$82.4BSpain
13Mukesh Ambani$76.3BIndia
14Gautam Adani$67.6BIndia
15Zhong Shanshan$65.6BChina

6. Forbes Highest paid Athletes list 2021 released

  • Forbes has unveiled its annual list of the 10 highest-paid athletes of the year. UFC star Conor McGregor has topped the Forbes list by earning $180 million in the past year beating soccer superstars Lionel Messi and Cristiano Ronaldo to become the highest-paid athlete in the world.
  • The factors used by Forbes’ for calculation include all prize money, salaries and bonuses earned between May 1, 2020, and May 1, 2021. 

Ranking Index

 1 Conor McGregor (Ireland)MMA$180 million
 2Lionel Messi (Argentina)Soccer$130 million
 3Cristiano Ronaldo (Portugal)Soccer$120 million
 4Dak Prescott (United States)Football$107.5 million
 5Lebron James (United States)Basketball$96.5 million
  6Neymar (Brazil)Soccer$95 million
 7Roger Federer (Switzerland)Tennis$90 million
 8Lewis Hamilton (United Kingdom) Formula 1$82 million
 9Tom Brady (United States)Football$76 million
10Kevin Durant (United States)Basketball$75 million


7. Italy hosts the Global G20 Summit

  • The Global G20 Health Summit was co-hosted by European Commission along with Italy as part of its G20 presidency amid the surge and spread of coronavirus cases.
  • The summit adopted the agenda to overcome the Covid-19 pandemic. It also decided to develop and endorse a Rome Declaration of principles.
  • Summit noted the risk of more transmissible variants has increased with nine people losing their lives to Covid-19 per minute.
  • As per WHO officials, the future of the pandemic is in hands of G20 leaders. G20 has also contributed to the launch of ACT-Accelerator as it was launched after G20 called for a global mechanism to accelerate the development of tests, treatments and vaccines.

Important takeaways for all competitive exams:

  • Italy Capital: Rome;
  • Italy Currency: Euro;
  • Italy President: Sergio Mattarella.


8. Naturalist Jane Goodall wins 2021 Templeton prize for life’s work

  • The naturalist Jane Goodall has been announced as the 2021 winner of the Templeton Prize in recognition of her life’s work on animal intelligence and humanity.
  • Goodall built her global reputation on her groundbreaking studies of chimpanzees in Tanzania in the 1960s.
  • The Templeton Prize is an annual award granted to a living person, in the estimation of the judges, “whose exemplary achievements advance Sir John Templeton’s philanthropic vision: harnessing the power of the sciences to explore the deepest questions of the universe and humankind’s place and purpose within it.”

About Templeton Prize

  • Instituted: 1973;
  • Presented by: John Templeton Foundation;
  • Reward(s): £1.1 million;
  • Currently held by: Francis Collins;
  • Awarded for: Outstanding contributions in affirming life’s spiritual dimension, whether through insight, discovery, or practical works.

9. Hockey India wins Etienne Glichitch Award

  • Hockey India has won the prestigious Etienne Glichitch Award in recognition of its contribution to the growth and development of the sport in the country.
  • The awards were announced by the game’s governing body FIH during the HockeyInvites virtual conference. It was part of its 47th FIH Congress which concluded with the FIH Honorary Awards.

Other Awards presented as a part of the 47th FIH Congress:

 1Pablo Negre AwardUzbekistan Hockey Federation
 2Theo Ikema AwardPolish Hockey Association
3HRH Sultan Azlan Shah AwardSharon Williamson of New Zealand
 4Guust Lathouwers Memorial TrophyIvona Makar


10. FIFA U-17 women’s World Cup to be held in India in October 2022

  • The U-17 women’s World Cup will be held in India from October 11 to 30 next year, Fifa Council said on 21st May. India was earlier scheduled to host the 2020 U-17 World Cup but it was postponed to 2021 before being cancelled due to the Covid-19 pandemic.
  • The FIFA Council approved key dates for the international match calendars, including the dates of the 2022 U-17 World Cup in India.
  • The Council also approved dates for the FIFA U-17 Women’s World Cup India 2022 (11-30 October 2022), FIFA U-20 Women’s World Cup Costa Rica 2022 (10-28 August 2022), as well as a 14-team playoff for the FIFA Arab Cup 2021, taking place between 19 and 25 June this year and Women’s World Cup Australia and New Zealand 2023 from July 20 to August 20, 2023.

Important takeaways for all competitive exams:

  • President of FIFA: Gianni Infantino; Founded: 21 May 1904.
  • Headquarters: Zürich, Switzerland.

11. Atletico Madrid clinch La Liga title

  • Atletico Madrid pipped city rivals Real Madrid to the La Liga title on 22nd May Luis Suarez fired them to a 2-1 comeback win at Real Valladolid.
  • Atletico finished top of the standings on 86 points while Real, who snatched a late 2-1 win over Villarreal, came second on 84. Valladolid finished 19th and was relegated to Spain’s second division.

12. Red Bull’s Max Verstappen wins Monaco Grand Prix 2021

  • Red Bull’s Max Verstappen has won the Monaco Grand Prix for the first time to take the Formula One championship lead from Lewis Hamilton.
  • Ferrari’s Carlos Sainz Jr. finished second, while McLaren, L. Norris came in a disappointing third place. Verstappen’s second win this season and 12th of his career moved the Red Bull driver four points ahead of Hamilton overall.
  • The seven-time world champion finished seventh on a bad day for the usually ultra-reliable Mercedes team.


13. A book title “Nehru, Tibet and China” authored by Avtar Singh Bhasin

  • A book has titled “Nehru, Tibet and China” authored by Avtar Singh Bhasin.
  • The book based on years of meticulous archival research, this book in fascinating detail, analyses the events from 1949 to the Indo-China war in 1962 and its aftermath to explore the answers to these burning questions.

14. ‘India and Asian Geopolitics: The Past, Present’ is authored by Shivshankar Menon

  • A book has titled ‘India and Asian Geopolitics: The Past, Present’ is authored by Shivshankar Menon.
  • He was the Prime Minister’s National Security Adviser and Foreign Secretary, is exploring these phases in their historical context to tell the story of how India weathered the many geopolitical storms of the past in his latest book.
  • Menon has taken a different approach to history. He underscores the seriousness of China taking Tibet in 1950, which, according to him, was a pivotal moment in India-China relations, but challenges the argument that India failed to stop the Chinese invasion.


15. World Turtle Day celebrated on 23 May

  • The World Turtle Day is observed on May 23 every year by American Tortoise Rescue, a nonprofit organization.
  • The day is celebrated to raise awareness among people to protect turtles and tortoises and their disappearing habitats around the world. The day is being celebrated since 2000 by American Tortoise Rescue, a nonprofit organization established in 1990 for the protection of all species of tortoise and turtle.
  • The theme of 2021 World Turtle Day is “Turtles Rock!”.

Important takeaways for all competitive exams:

  • Founders of American Tortoise Rescue: Susan Tellem and Marshall Thompson.
  • American Tortoise Rescue is located in Malibu, California.
  • American Tortoise Rescue was founded in 1990.

16. International Day to End Obstetric Fistula observed on 23 May

  • Every year, United Nations (UN) International Day to End Obstetric Fistula is marked on 23rd May since 2013 to promote action towards treating and preventing obstetric fistula, a condition that affects many girls and women during childbirth in developing countries.
  • The day is being observed to significantly raise awareness and intensify actions towards ending obstetric fistula, as well as urging post-surgery follow-up and tracking of fistula patients. Obstetric fistula is one of the most serious and tragic injuries that can occur during childbirth.
  •  The theme 2021: “Women’s rights are human rights! End fistula now!”.
  • In 2003 the United Nations Population Fund (UNFPA) and its partners launched the global Campaign to End Fistula, a collaborative initiative to prevent fistula and restore the health of those affected by the condition. The day was officially recognised in 2012.

Important takeaways for all competitive exams:

  • United Nations Population Fund Headquarters: New York, United States;
  • United Nations Population Fund Head: Natalia Kanem;
  • United Nations Population Fund Founded: 1969.


17. Indian boxing’s first Dronacharya awardee coach O P Bhardwaj passes away

  • Indian boxing’s first Dronacharya awardee coach, O P Bhardwaj has passed away. He has bestowed the highest national honour in coaching jointly with Bhalchandra Bhaskar Bhagwat (wrestling) & O M Nambiar (athletics) when it was introduced in 1985.
  • Bhardwaj was India’s national boxing coach from 1968 to 1989 & also served as a national selector. He was the first chief instructor for the sport at the National Institute of Sports India in Patiala.

18. Veteran Music Director Laxman of the duo composers “Raam-Laxman” passes away

  • Renowned music director “Laxman” of the famous duo composers “Raam-Laxman”, has passed away due to a heart attack. His real name was Vijay Patil, but was better known as Raamlaxman and was most famous for his work with Rajshri Productions of Hindi films.
  • Laxman composed music for several of their hit films like Agent Vinod (1977), Maine Pyar Kiya (1989), Hum Aapke Hain Koun..! (1994), Hum Saath Saath Hain (1999). Raamlaxman has worked in almost 75 films in Hindi, Marathi and Bhojpuri.

19. Former Atomic Energy Commission of India Chief Srikumar Banerjee Passes Away

  • The former Chairman of the Atomic Energy Commission of India, Dr. Srikumar Banerjee, has passed away. He retired as Chairman of the Atomic Energy Commission and Secretary of the Department of Atomic Energy in 2012.
  • He had also served as the Director of the Bhabha Atomic Research Centre (BARC) for six years till 2010.
  • Dr Banerjee received the Padma Shri in 2005 and the Shanti Swarup Bhatnagar Award in 1989 for his exceptional service in the field of science, especially in the areas of atomic energy and metallurgy.


20. Cyclone Yaas to hit West Bengal, Odisha

  • A category 5 cyclonic storm has been forecasted to make its landfall along the coastline of West Bengal and Odisha between May 26-27. Once formed, the cyclone will be named ‘Yaas’.
  • Yaas will be as deadly as Amphan which was also formed in the Bay of Bengal in May last year. Yaas, named by Oman as such, refers to a Jasmine-like tree that has a good fragrance.
  • A rotational list of the names of cyclones is maintained by the World Meteorological Organisation (WMO), with the names specific for each tropical zone. If a cyclone is especially deadly then its name is never used and is replaced by another name. The list has a total of 169 names at present which will be used on a rotational basis.

Important takeaways for all competitive exams:

  • World Meteorological Organisation Headquarters: Geneva, Switzerland;
  • World Meteorological Organisation Founded: 23 March 1950;
  • World Meteorological Organisation President: David Grimes.




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