Daily Current Affairs Quiz : May 11, 2022

Notes:
The United States has launched “Affordable Connectivity Program” to provide subsidies on internet service to lower-income households.
It has been announced that 20 internet companies have agreed to provide discounted service to people with low incomes. The USD 14.2 billion funding for the program is a part of the USD 1 trillion infrastructure package passed by Congress last year. With the new program, about 48 million households will be eligible for USD 30 monthly plans for 100 megabits per second or higher speed.

Notes:
Tamil Nadu has become the first state in the country to offer breakfast in government schools, along with the mid-day meal.
Chief Minister MK Stalin announced the breakfast scheme for students studying in Classes 1 to 5 in the state. The special nutritional scheme is based on a public health study by the government on the malnourished children in the state. Tamil Nadu was also a pioneer of the midday meal scheme.

Notes:
Mukesh Ambani’s Reliance Industries Ltd first became the first Indian company to cross USD 100 billion annual revenue.
For the fiscal 2021-22, Reliance reported a net profit of ₹60,705 crore on a revenue of ₹7.92 lakh crore (USD 102 billion). The earnings rose due to the high oil refining margins, growth in telecom and digital services and strong retail business. Rise in broadband subscribers, online retail and new energy investment are also the reasons for rise in earnings.

Notes:
The French President Emmanuel Macron suggested building a broader political community of democratic states around the European Union.
This new European organisation “European Political Community” would allow democratic European nations to find a new space for political cooperation, security, cooperation in energy, transport, investment, infrastructure etc. It will include Ukraine and other countries like Georgia and Moldova, who are also occupied by Moscow’s troops.

Notes:
India’s biggest-ever initial public offering (IPO), by Life Insurance Corp (LIC), has been fully booked under all categories.
The portion set for policyholders was booked 6.11 times, employees by 4.39 times, retail investors by 1.99 times, non-institutional investors by 2.91 times and qualified institutional buyers (QIB) by 2.83 times. The government will raise ₹ 21,000 crore from selling a 3.5 per cent stake in the country’s top insurer. This is only a third of the original target fixed by the government.