• Researchers have found the world’s deepest blue hole in the Latin American country of Mexico.
• They have reached 1,380 feet or 420 meters below sea level, but it is not the end of the hole.
• According to the study published in the journal ‘Frontiers in Marine Science’, the “deepest known blue hole” Taam Ja’ Blue Hole (TJBH), is located in Chetumal Bay off the Yucatan Peninsula.
• Taam Ja’ Blue Hole is 480 feet deeper than what scientists documented in 2021.
• It is also 390 feet or 119 meters deeper than the previous record holder — the 990-foot-deep Sansha Yongle Blue Hole, also known as the Dragon Hole, located in the South China Sea.

ABOUT BLUE HOLE

• Blue holes are water-filled vertical caverns, found in coastal regions where the bedrock is made of soluble material, such as limestone, marble, or gypsum.
• Blue holes typically contain tidally influenced water of fresh, marine, or mixed chemistry.
• They extend below sea level for most of their depth and may provide access to submerged cave passages.
• Examples include
  • the Dragon Hole in the South China Sea.
  • the Great Blue Hole and Dean’s Blue Hole in the Caribbean.
  • the Dahab Blue Hole in Egypt and
  • the Great Blue Hole in Belize.

• May 1^st holds special importance for two Indian states, Maharashtra and Gujarat, as they commemorate the establishment of their respective states, which is celebrated as Maharashtra Day and Gujarat Day.
• The state of Gujarat was established on 1 May 1960.
  • On the same day, Maharashtra was also formed.
• These two states were carved out of Bombay State by the Bombay Reorganization Act in 1960, due to the demands of the Gujarati and Marathi-speaking people.

• Renowned journalist, Vinay Vir, Publisher and Editor of Daily Hindi Milap, who raised the flag of Hindi in the South, passed away
  • He was 72-years-old.
• Vinay Vir was born in the family of a freedom fighter Yudhvir and Sita Yudhvir.

• Shane Watson, the talented Australian all-rounder, has recently launched the book titled “The Winner’s Mindset”.
• While the book is not an autobiography in the traditional sense, it serves as a powerful self-help guide, offering readers a glimpse into the mindset that propels individuals to success.

• Pakistan has appointed its foreign minister, Ishaq Dar, as its first deputy prime minister in over a decade.
• The 73-year-old, who has served as finance minister four times, is expected to pay particular attention to the state of the South Asian nation’s economy.

• International Labour Day or Workers Day is celebrated on 1^st May every year.
  • It is also called May Day.
• It stands as a testament to the enduring legacy of workers’ struggles for justice and dignity.
• Every year, it is celebrated with a theme decided by the International Labour Organization.
  • This year, the focus is on ensuring safety and health at work in a changing climate.
• ILO focuses on different labour problems and bringing awareness to the world.
• Origin–
  • It originated from the Haymarket affair in 1886, it commemorates the sacrifices of those who fought for fundamental labour rights, including the eight-hour workday.
  • May 1st was declared International Labour Day by the Second International in 1889 to commemorate the struggle for labour rights and to remember the events that occurred in Chicago.
  • In India, the first Labour Day or May Day was celebrated in Madras by the Labour Kisan Party of Hindustan on May 1, 1923.

• Deloitte India has estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows.
• It is estimated to be 6.75 per cent in FY26.
• The rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.
• Deloitte has revised India’s economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent.

• Justice (retired) Dinesh Kumar took charge as the Presiding Officer of the Securities Appellate Tribunal (SAT) on 29 April 2024. The government of India appointed Justice Dinesh Kumar for a four-year term.
• Before taking over as the presiding officer of SAT, Justice Dinesh Kumar was the chief justice of the Karnataka High Court. He retired from the post in February 2024.
• He replaced Tarun Aggarwal, who retired in December 2023.
• Dheeraj Bhatnagar also took charge as the technical member of the tribunal. He has been appointed for a term of four years or till he reaches the age of 67, whichever is earlier. Dheeraj Bhatnagar retired as principal chief commissioner of Income Tax Delhi.
• The other member of the three-member SAT is Meera Swarup.

ABOUT SAT:

• The Securities Appellate Tribunal is a statutory body established in 1992 under the provisions of the Securities Exchange Board of India Act 1992.
• The SAT consist of a Presiding Officer and other judicial and technical members.

FUNCTIONS OF SAT

• The Securities Appellate Tribunal was set up to replace the High Court. It hears appeals against the following financial regulators.
  • Orders and rulings of the capital market regulator, Securities Exchange Board of India (SEBI).
  • Orders and rulings of the pension sector regulator Pension Fund Regulatory and Development Authority (PFRDA).
  • Orders and rulings of the Insurance sector regulator Insurance Regulatory Development Authority of India (IRDAI).

• India’s Naval arm, the Indian Navy (IN), recently bolstered its capabilities with the launch of the LSAM 20, the sixth barge in its 11 x ACTCM Barge Project. The launch ceremony, held on April 29, 2024, took place at the M/s Suryadipta Project Pvt. Ltd. shipyard in Thane.

KEY HIGHLIGHTS:

• LSAM 20 is an Ammunition Cum Torpedo Cum Missile Barge.
• It was constructed by M/s Suryadipta Projects Pvt. Ltd., a MSME shipyard, showcasing India’s Make in India initiative.
• The contract for building all 11 barges was signed between the Ministry of Defence (MoD) and M/s Suryadipta Projects Pvt. Ltd. on March 5th, 2021.

BENEFITS OF THE ACTCM BARGES:

• These barges will significantly enhance the operational efficiency of the Indian Navy.
• They will facilitate the transportation, embarkation, and disembarkation of critical supplies, including ammunition, to Indian Navy ships at jetties and outer harbors.
• The barges are indigenously designed and built, adhering to the stringent standards of the Indian Register of Shipping.
• Model testing was conducted at the Naval Science and Technological Laboratory in Visakhapatnam during the design phase.

• Hitachi Payment Services, India’s leading payments and commerce solutions provider has announced the launch of the country’s first Upgradable ATM. The Upgradable ATM can be transformed into a high-performance Cash Recycling Machine (CRM) at any point of time.
• Manufactured under the Make in India initiative, these new Upgradable ATMs provide more flexibility and efficiency to banks.
• These ATMs can be upgraded to a Cash Recycling Machine (CRM) at any time.
• Hitachi Payment Services claims that this is the first upgradable ATM in India.
• This new-age solution is designed to support UPI based cash withdrawal and cash deposit as well.
• In September 2023, the company also rolled out the first-of-its-kind UPI ATM on Android platform for card-less cash withdrawals.