Current Affairs Today May 8, 2023 Video: Cyclone Mocha to G20 TechSprint competition

The Bank for International Settlements (BIS) and the Reserve Bank of India (RBI) have announced the beginning of the G20 TechSprint 2023, a global competition focused at enhancing cross-border payments through cutting-edge technological innovations. The competition's fourth iteration, which is open to innovators worldwide, was launched on May 4. 

 

 

According to the Indian Meteorological Department (IMD), a cyclonic or low-pressure area is forming in the Bay of Bengal and might bring heavy rain to the area over the following few days, from May 8 to May 12. The weather system was also predicted to develop into a depression over the southeast Bay of Bengal on May 9 before intensifying into a cyclonic cyclone.