Current Affairs

1. TAMIL NADU’S SHYAAMNIKHIL BECOMES INDIA’S 85TH CHESS GRANDMASTER –

• In a remarkable achievement, P Shyaamnikhil from Tamil Nadu has etched his name in the annals of Indian chess history by becoming the country’s 85th Grandmaster (GM). The 31-year-old chess prodigy, who embarked on his journey at the tender age of eight, finally secured the coveted third and final GM norm at the prestigious 2024 Dubai Police Masters Chess Tournament.
• Before the start of the Dubai event, Shyaamnikhil needed just one win and eight draws to attain the coveted GM title. Although he had accumulated the required 2500 ELO rating points and secured two GM norms way back in 2012, the elusive third norm eluded him for over a decade. Nevertheless, his unwavering determination and skills ultimately paved the way for his triumphant ascent to the Grandmaster’s ranks.
• Born in Nagercoil, Tamil Nadu, in 1992, Shyaamnikhil’s chess journey began when he relocated to Chennai to pursue his passion. His talent was evident from an early age, as he earned the International Master (IM) title in 2011 and secured his first GM norm at the Mumbai Mayor’s Cup the same year.

 

2. RBI GOLD       HOLDINGS   AND   FOREIGN      EXCHANGE  RESERVES UPDATE –

• In the fiscal year 2023-24, the Reserve Bank of India (RBI) saw a significant increase in its gold reserves, adding 27.46 metric tonnes and reaching a total of 822.10 metric tonnes by the end of March 2024. This brought the share of gold in the total foreign exchange reserves to about 8.15%, up from 7.81% in the previous year.
• The World Gold Council highlighted a continuing trend of net central bank buying, though some banks may opt to remain on the sidelines amidst recent price surges. Opportunistic selling might also emerge due to the substantial price rise observed during the year.
• Out of RBI’s total gold holdings, 408.31 metric tonnes were held domestically, while 387.26 metric tonnes were kept in safe custody with the Bank of England and the Bank for International Settlements. Additionally, 26.53 metric tonnes were held in the form of gold deposits.
• By December 2023, RBI’s foreign exchange reserves covering imports increased to 11 months from 9.3 months, indicating improved reserve adequacy. The ratio of short-term debt to reserves decreased from 23.0% to 20.3%, and the ratio of volatile capital flows to reserves declined from 72.7% to 70.4% during the same period.

 

3. UNITED NATIONS DECLARES MAY 25 AS WORLD FOOTBALL DAY –

• In a historic move, the United Nations General Assembly has unanimously proclaimed May 25 as the World Football Day, marking a significant milestone in the global celebration of the world’s most popular sport. The resolution, adopted during the 80th plenary meeting of the General Assembly in New York, coincides with the 100th anniversary of the first international football tournament with representation from all regions – the 1924 Summer Olympic Games held in Paris.
• The resolution, introduced by Taher M. El-Sonni, Permanent Representative of the State of Libya to the United Nations, was passed unanimously by the 193-member General Assembly. It underscores  the power of football to promote peace, development, and unity among nations, aligning with the UN’s mission of fostering a better world through sport and the Olympic ideal.
• The proclamation of World Football Day by the United Nations is a testament to the sport’s universal appeal and its ability to transcend boundaries and bring people together. Football has proven to be a unifying force, bridging cultural divides and fostering friendship and camaraderie among nations.