07th May 2025

1. STRIDE-EUI Launched to Strengthen EU-India Engagement in Trade, Tech and Security
2. Rajasthan to join India’s first cheetah conservation corridor with MP
3. Sanjay Jaiswal appointed as Head of CoE; Baijayant Panda as Head of CoPU for FY26
4. US Trade Agency Placed India and 7 Other Countries on Priority Watch List over IPR Enforcement, Violations
5. Razorpay Launches India’s First AI-Integrated MCP Server For Payments
6. Mobikwik’s Subsidiary Zaakpay Gets RBI Approval to Operate as PA
7. IFSCA and NISM Signed MoU to Accelerate Capacity Building in GIFT IFSC
8. RBI Imposes Rs 2.52 Crore Penalty on Five Major Banks for Regulatory Violations
9. TCS & IBM Partners to Develop Quantum Valley Tech Park in AP
10. DRDO Conducts Maiden Flight-Trials of Stratospheric Airship Platform in MP
11. Yoga Guru & Padma Shri Awardee Swami Sivananda Passed Away
12. International Leopard Day 2025 – May 3
13. World Laughter Day 2025 – May 4
14. International Firefighters’ Day 2025 – May 4
15. World Portuguese Language Day 2025 – May 5
16. IA Received New Batch of Russian-origin ‘Igla-S’ Shoulder-fired Air Defence Missiles
17. INCOIS Launched ‘Submarine Cable Project’ at Andaman & Nicobar Islands
18. MoE Approved to Establish IIFT’s New off Campus Centre at GIFT City, Gujarat
19. India AI mission partners with Intel India to bolster AI capabilities and skilling
20. AP Signs MoU with CLA to Establish India’s First Transmedia Entertainment City
21. Chhattisgarh CM Lays Foundation for India’s First AI-Based Data Centre Park in Nava Raipur
22. Nicaragua Withdraws from UNESCO over a Press Freedom Award 2025
23. Goldsikka Unveils India’s first AI-powered Gold Melting ATM
24. Moody’s cuts India’s GDP forecast to 6.3% in 2025
25. FSIB Recommends Sanjay Joshi as CMD of OICL
26. McLaren’s Oscar Piastri Secures 3rd Consecutive Victory at 2025 Miami Grand Prix
27. Padma Shri Awardee K V Rabiya Passed Away
28. International Day of the Midwife 2025 – May 5
29. World Hand Hygiene Day 2025 – May 5
30. African World Heritage Day 2025 – May 5
31. World Cartoonist Day 2025 – May 5
32. Meghalaya Hosts Strawberry Festival 2025 to Promote Agro-Tourism and Rural Livelihoods
33. RBI fines 5 banks fir Non Compliance: ICICI, Axis, Bank of Baroda, IDBI, Bank of Maharashtra

State News

1. India’s First AI-Based Data Center Park in Chhattisgarh

• What:
  • Chhattisgarh Chief Minister Vishnu Deo Sai laid the foundation stone for India’s first Artificial Intelligence-based Data Center Park in Nava Raipur.
• Why:
  • The project aims to advance digital transformation, create jobs, and make Chhattisgarh a leader in technology.
• Tell me more:
  • The data center park covers 13.5 acres and will start with five megawatts capacity, with plans to expand to 150 megawatts.
  • A 2.7-hectare area within the park will be a Special Economic Zone dedicated to AI-based services.
  • The center will use green, energy-efficient technologies and offer services in AI, FinTech, HealthTech, Defense, and data analytics.

Source: TOI

2. Meghalaya Strawberry Festival 2025 to Be Held in May

• What:
  • The Meghalaya Strawberry Festival 2025 will be organised on May 2nd and 3rd across Sohliya, Syntung, and Darechikgre.
• Why:
  • The festival aims to blend agro-tourism, cultural heritage, and rural development by highlighting Meghalaya’s strawberries.
• Tell me more:
  • Organised by the Department of Tourism, Meghalayan Age Limited, and the Department of Agriculture and Farmers’ Welfare, the festival includes activities like strawberry picking, product stalls, workshops, and cultural performances.
  • The Meghalaya government is actively supporting strawberry cultivation through distribution of saplings and expansion plans, with production increasing from 1196 metric tonnes in 2023 to approximately 1220 metric tonnes in 2024.
  • The festival serves as an economic driver for local farmers, women Self Help Groups, and small entrepreneurs, promoting sustainable livelihoods and integrating agriculture, tourism, and culture.

Source: ET

International News

1. STRIDE-EUI Launched to Boost India-EU Partnership

• What:
  • The Dialogue and Grayspace Law and Policy Consulting have launched STRIDE-EUI (Strategic Research, Innovation & Dialogue for EU-India Engagement) in New Delhi to strengthen the partnership between India and the European Union.
• Why:
  • The initiative aims to connect policy and practice, government and business, and ambition with action for resilient and future-focused EU-India relations.
• Tell me more:
  • STRIDE-EUI is located in Brussels and New Delhi.
  • The platform will use thematic meetings, expert whitepapers, and collaborative programs to support EU-India cooperation.
  • STRIDE-EUI will organize dialogues, roundtables, and policy publications, and focus on AI governance, cybersecurity, investment facilitation, and responsible technology innovation.
  • STRIDE-EUI will prioritize initiatives on digital governance, supply chain resilience, and ethical tech innovation.

Source: BS

2. US Places India on Priority Watch List for IPR

• What:
  • The US has put India on its ‘Priority Watch List’ due to concerns over India’s protection and enforcement of intellectual property rights (IPR).
• Why:
  • The US took this step because India’s progress in safeguarding intellectual property rights was found to be inconsistent, with several long-standing issues remaining unresolved.
• Tell me more:
  • The United States Trade Representative (USTR) called India one of the most challenging major economies for IP protection and enforcement in its 2025 Special 301 Report.
  • The report highlighted concerns about patent revocations, procedural issues under the Indian Patents Act, long waiting periods for patent grants, and excessive reporting requirements.
  • India and the US are negotiating a bilateral trade deal to increase trade to $500 billion by 2030, and the US aims to reduce its trade deficit with India, which was $41.18 billion in 2024–25.

Source: IT

Banking and Economy

1. Razorpay Launches India’s First MCP Server for Payments

• What:
  • Razorpay has introduced India’s first Model Context Protocol (MCP) Server for a payment gateway, allowing AI systems to directly start and manage payments without using traditional APIs or dashboards.
• Why:
  • The new server aims to make digital transactions easier and faster by letting AI-driven commands handle payments, reducing manual work and simplifying payment operations for businesses.
• Tell me more:
  • Businesses can now connect their AI agents, built on platforms like Zapier, Claude, or tools like VS Code, directly to Razorpay’s system.
  • The MCP server lets AI agents create payment links, fetch order data, start refunds, and manage payment workflows using simple prompts.
  • This protocol-based setup allows AI assistants or automated agents to interact directly with payment systems, cutting down integration time and making payment processes smoother.

Source: FE

2. Zaakpay Gets RBI Nod as Online Payment Aggregator

• What:
  • Zaak ePayment Services, a wholly owned subsidiary of One MobiKwik Systems, has received final approval from the Reserve Bank of India to operate as an Online Payment Aggregator.
• Why:
  • The approval allows Zaakpay to offer seamless payment solutions for businesses and helps Mobikwik expand in the B2B digital payments sector.
• Tell me more:
  • Zaakpay can now provide payment acceptance across Credit and Debit Cards, Net Banking, UPI, Wallets, Pay Later, and EMIs.
  • In 2024, Zaakpay partnered with Meta’s WhatsApp for Business to launch Conversational Commerce for the transit and healthcare sectors.

Source: ET

3. RBI Fines Five Banks for Regulatory Non-Compliance

• What:
  • The Reserve Bank of India imposed monetary penalties on ICICI Bank, Axis Bank, Bank of Maharashtra, Bank of Baroda, and IDBI Bank for non-compliance with various regulations.
• Why:
  • The penalties were imposed to ensure banks follow rules related to cyber security, KYC, customer service, and financial schemes.
• Tell me more:
  • ICICI Bank was fined ₹97.8 lakh for not complying with cyber security framework, KYC rules, and credit/debit card issuance and conduct, including failure to report a cyber incident on time and not sending credit card bills to some customers but charging late fees.
  • Axis Bank was fined ₹29.6 lakh for non-compliance related to unauthorised operation of internal or office accounts.
  • Bank of Maharashtra was fined ₹31.8 lakh for not following KYC regulations.
  • Bank of Baroda was fined ₹61.4 lakh for not complying with directions on financial services and customer service, including interest rate on deposits.
  • IDBI Bank was fined ₹31.8 lakh for not following regulations on the interest subvention scheme for short-term loans for agriculture and allied activities through Kisan Credit Card (KCC).

Source: ET

4. AI-Powered Gold Melting ATM Unveiled by Goldsikka

• What:
  • Hyderabad-based Goldsikka has unveiled an AI-powered Gold Melting ATM that allows users to buy, sell, exchange, lease, digitize, and monetize gold and gold jewellery.
• Why:
  • The purpose of launching this ATM is to redefine gold transactions by providing advanced features and a seamless experience with zero human interference.
• Tell me more:
  • The ATM uses Augmented Reality (AR) to let users virtually try on jewellery before buying.
  • Users can buy and sell gold through the machine.
  • When selling, users deposit gold into the ATM, which melts the gold, tests its purity, and displays the value.
  • After accepting the displayed value, the amount is transferred to the user’s bank account.
  • The entire process, including depositing gold and receiving money, takes about 30 minutes.
  • The ATM captures a photograph of the depositor and verifies Aadhar card and ID proof.
  • If any crime record is found, the ATM retains the gold and reports to the police.
  • The machine is ready and awaiting regulatory approvals for launch.

Source: TW

GDP Forecasts

1. Moody’s Lowers India’s 2025 Growth Forecast to 6.3%

• What:
  • Moody’s has reduced India’s economic growth forecast for 2025 to 6.3% from 6.6% due to policy shifts and trade uncertainty.
• Why:
  • The forecast was lowered because of policy changes and ongoing trade uncertainty affecting the economy.
• Tell me more:
  • Geopolitical risks, including tensions between India and Pakistan, are seen as downside risks to India’s growth.
  • The IMF has also revised India’s GDP growth forecast for FY26 to 6.2% from 6.5%.
  • The World Bank has cut India’s growth estimate to 6.3% from 6.7%.
  • Moody’s expects India’s economy to grow by 6.5% in 2026.
  • India is negotiating a bilateral trade deal with the US, and both countries are reportedly close to an agreement.
  • Moody’s expects China’s GDP growth to slow to 3.8% in 2025 from 4.5% forecasted earlier.
  • US economic growth is expected to slow to 1% in 2025 from 2% projected earlier.

Source: ET

Defence News

1. Stratospheric Airship Platform Maiden Flight by DRDO

• What:
  • DRDO has successfully conducted the first flight trial of its Stratospheric Airship Platform from the Sheopur Trial Site in Madhya Pradesh.
• Why:
  • The trial aims to enhance India’s Earth observation, Intelligence, Surveillance, and Reconnaissance (ISR) capabilities by developing indigenous high-altitude platforms.
• Tell me more:
  • The airship was developed by the Aerial Delivery Research and Development Establishment (ADRDE) in Agra.
  • It was launched with an instrumental payload and reached an altitude of about 17 kilometers.
  • Data from onboard sensors was collected during the flight for developing high-fidelity simulation models for future operations.
  • The flight tested the envelope pressure control and emergency deflation systems.

Source: TOI

2. Indian Army Receives New Igla-S Air Defence Missiles

• What:
  • Indian Army has received new supplies of Russian-origin Igla-S Very Short Range Air Defence Systems (VSHORADS) under an emergency procurement contract.
• Why:
  • The new missiles aim to strengthen air defence against threats from enemy aircraft, helicopters, and drones, especially on the western border.
• Tell me more:
  • The Igla-S is a man-portable, shoulder-launched surface-to-air missile system using infrared homing to target low-flying aircraft, drones, and helicopters up to 6 km away and at altitudes up to 3.5 km.
  • The Indian Army received new supplies of Igla-S missiles under a Rs 260 crore contract signed through emergency procurement powers.
  • The Army has issued tenders for additional launchers, missiles, and night-vision sights for VSHORADS under fast-track procedures.
  • The Igla-S is an advanced version of the older Igla missiles used since the 1990s, with improved seeker accuracy and resistance to countermeasures.
  • Indigenous systems like the Integrated Drone Detection and Interdiction System complement these missiles by detecting, jamming, and destroying drones at over 8 km range.

Source: TP

Important Days

1. International Leopard Day 2025 – May 3

2. World Laughter Day 2025 – May 4

3. International Firefighters’ Day 2025 – May 4

4. World Portuguese Language Day 2025 – May 5

5. International Day of the Midwife 2025 – May 5

• Theme: Midwives: Critical in Every Crisis
• World Health Day 2025 was celebrated on the theme ‘Healthy Beginnings, Hopeful Futures’.

Source: who who

6. World Hand Hygiene Day 2025 – May 5

• 2025 Campaign: SAVE LIVES: Clean Your Hands

Source: WHO

7. African World Heritage Day 2025 – May 5

8. World Cartoonist Day 2025 – May 5

Sports

1. Oscar Piastri Wins Miami Grand Prix for McLaren

• Oscar Piastri (Australian motorsports racing driver) won the Miami Grand Prix, marking his fourth win in six Formula 1 races this season.

Source: ET

Memorandum of Understanding

1. IFSCA and NISM Sign MoU for Capacity Building

• What:
  • The International Financial Services Centres Authority and the National Institute of Securities Markets signed a Memorandum of Understanding on May 2, 2025, to advance capacity building and training initiatives in the securities markets in the IFSC.
• Why:
  • The MoU aims to meet the capacity building and training needs of stakeholders in the securities markets at IFSC.
• Tell me more:
  • The MoU was signed in the presence of Shri K. Rajaraman, Chairperson, IFSCA and Shri Tuhin Kanta Pandey, Chairperson, Securities and Exchange Board of India.
  • NISM will work with IFSCA to support various capacity building initiatives, including conducting certification examinations for entities operating in GIFT IFSC.
  • The partnership will help create customized content, advance e-learning, and conduct examinations for officials of IFSCA, regulated entities, and other market participants.

Source: IFSCA

2. Intel India and IndiaAI Mission Partner to Boost AI Skills

• What:
  • Intel India and the IndiaAI mission have signed an MoU to launch an initiative for strengthening AI capabilities and skills across the country.
• Why:
  • The initiative aims to empower youth, professionals, startups, and public sector leaders to use AI for social progress and better governance.
• Tell me more:
  • The partnership will focus on four programmes: YuvaAI, StartupAI, IndiaAI Dialogues, and expanding Bhashini to remote regions.
  • YuvaAI will help school students create AI solutions with social impact through the Intel AI for Youth programme.
  • StartupAI will support AI startups with access to technology, business guidance, and mentorship.
  • IndiaAI Dialogues and Intel Digital Readiness for Leaders will provide workshops for public sector leaders and policy practitioners.
  • The partnership will help set up a data lab to train youth in data science and AI.

Source: BS

3. Creator Land MoU Signed for India’s First Transmedia City

• What:
  • Andhra Pradesh government has signed an MoU to launch Creator Land, India’s first transmedia entertainment city, aiming to create 25,000 jobs.
• Why:
  • The project aims to make Andhra Pradesh a global creative and digital hub, attract foreign investment, and empower local talent.
• Tell me more:
  • The MoU was signed at the WAVES Summit in Mumbai.
  • Creator Land is expected to bring investments of up to Rs 10,000 crore over six years.
  • The project will focus on storytelling, films, gaming, music, virtual production, and AI-driven content.
  • Creatorland Academy will train youth in next-generation skills and content creation.
  • Amaravati will be developed as a world-class destination for innovation, employment, and digital content.

Source: ET

Appointments

1. Baijayant Panda Appointed Chairman of Public Enterprises Committee

• What:
  • Lok Sabha Speaker Om Birla has appointed BJP MP Baijayant Panda as Chairman of the Parliamentary Committee on Public Enterprises and BJP MP Sanjay Jaiswal as Chairman of the Parliamentary Estimates Committee for the term from May 1, 2025 to April 30, 2026.
• Why:
  • The appointments were made to lead and oversee the functioning of the two important parliamentary committees for the new term.
• Tell me more:
  • The Parliamentary Committee on Public Enterprises, chaired by Baijayant Panda, includes 15 Lok Sabha members and 7 Rajya Sabha members.
  • The main responsibility of the Committee on Public Enterprises is to examine the functioning of public sector undertakings, review their financial management, and ensure accountability based on Comptroller and Auditor General (CAG) reports.

Source: AU

2. FSIB Recommends Sanjay Joshi as CMD of Oriental Insurance Company

• The Financial Services Institutions Bureau (FSIB) is responsible for selecting the chiefs of public sector banks and insurance companies.

Source: CNBC

Miscellaneous

1. Yoga Guru & Padma Shri Awardee Swami Sivananda Passed Away

• Swami Sivananda Saraswati was born on 8 August 1897 in British India’s Sylhet district (now in Bangladesh).

Source: HT

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