13th May 2025

1. C-DOT and CSIR-NPL Signed MoU for Advancing Quantum and Classical Communication Technologies
2. World Bank Land Conference 2025 held in Washington DC, USA
3. Bhutan Launches World’s First National Cryptocurrency Tourism Payment System
4. Porter Becomes India’s 3rd Unicorn of 2025 by Raising USD 200 million in Series F Round
5. Karnataka & IN-SPACe signs two MoUs to Establish Space Manufacturing Park and CoE
6. Japan’s SMBC Buys 20% Stake in YES Bank for around Rs 13,483 Crore
7. Elon Musk’s Starlink Receives Approval to Launch Satellite Internet Services in India
8. Brazil to host FIFA Women’s World Cup in 2027
9. S P Sharma’s Book “India@2047: Leading the Global Economic Order” Released
10. International Agricultural Argania Day 2025 – May 10
11. National Technology Day 2025 – May 11
12. International Day of Vesak or Buddha Purnima 2025 – May 12
13. Government Fixes 23rd September as Ayurveda Day to Ensure Consistent Global Celebrations
14. Google’s New Logo 2025: Meaning, Reactions, and What It Means for Other Apps
15. India Becomes ‘Country Champion’ at World Bank Land Conference 2025
16. Bhuwan Ribhu Becomes First Indian Lawyer to Receive World Law Congress Honour
17. Bandaru Dattatraya’s Autobiography ‘Janta Ki Kahani’ Released by Vice-President
18. PMO Through the Ages: Himanshu Roy Explores the Nerve Centre of Indian Governance
19. C-DOT and Synergy Quantum Partner to Develop Quantum Key Distribution for Drones
20. HCLTech Joins European Commission’s AI Pact to Champion Responsible AI
21. Operation Keller in Kashmir
22. Ant Group to Sell 4% Stake in Paytm Worth ₹2,066 Crore via Bulk Deal
23. US-China Agree to Slash Tariffs Amid Trade War De-escalation
24. Andhra Govt Waives Property Tax for Defence Homes in Villages
25. Bhutan Becomes First Country to Integrate Crypto Payments in Tourism
26. India’s Pharma Industry Faces Fresh Challenges After Trump’s Drug Order

State News

1. IN-SPACe and Karnataka Sign MoUs for Space Sector Growth

• What:
  • Indian National Space Promotion and Authorisation Centre (IN-SPACe) and the Government of Karnataka have signed Memorandums of Understanding to boost Karnataka’s role as a commercial space hub.
• Why:
  • The agreements aim to support the state’s NewSpace ecosystem, promote innovation, and align with the national vision set by the Indian Space Policy, 2023.
• Tell me more:
  • One MoU is for establishing a Centre of Excellence for space technologies in Bengaluru.
  • Another MoU is for setting up a public-private space manufacturing park focused on next-generation satellite and launch-vehicle production.

Source: TOI

2. Operation Keller in Kashmir

• Three Kashmiri terrorists linked to Pakistan-backed Lashkar-e-Taiba were shot dead by security forces during an Army-led counterterrorism operation in Shopian district, Jammu and Kashmir.
• The operation aimed to eliminate terrorists hiding in the area and enhance security following recent attacks in the region.

Source: TOI

3. Andhra Pradesh Announces Full Property Tax Exemption for Defence Personnel

• What:
  • Andhra Pradesh Deputy Chief Minister Pawan Kalyan announced a full property tax exemption for homes owned by defence personnel within gram panchayat limits across the state.
• Why:
  • The decision aims to honour the courage and service of Army, Navy, Air Force, CRPF, and paramilitary forces.
• Tell me more:
  • The exemption, earlier limited to retired soldiers or those posted at borders, now includes all active personnel regardless of deployment location.
  • The exemption applies to properties where the personnel or their spouse resides or jointly owns.
  • The announcement came after the death of 23-year-old soldier Murali Naik from Andhra Pradesh during the India-Pakistan conflict in Jammu and Kashmir.

Source: IT

International News

1. World Bank Land Conference 2025 to Be Held in Washington

• What:
  • The World Bank Land Conference 2025 will be held from May 5–8 in Washington, DC, bringing together over 1,000 participants from government, academia, civil society, and the private sector.
• Why:
  • The conference aims to promote knowledge exchange, showcase policy-relevant research, discuss technical issues, and highlight best practices in the global land sector.
• Tell me more:
  • The event serves as the premier global forum for the land sector and encourages submissions of Expressions of Interest and proposals for sessions and research papers.
  • The conference has led to important initiatives like the Voluntary Guidelines, Land Governance Assessment Framework, and Stand for Her Land Campaign.
  • The 2025 agenda focuses on moving from awareness to action by highlighting effective strategies for securing land tenure, scaling up land sector initiatives, and supporting global prosperity and environmental sustainability.
  • India was recognized as the ‘Country Champion’ at the World Bank Land Conference 2025 for its leadership in digital land governance and rural development.
    • India’s SVAMITVA scheme uses drone-based mapping to establish clear ownership of rural residential properties, with 68,000 sq. km surveyed and ₹1.16 trillion worth of land monetized.
    • The Gram Manchitra platform enables Gram Panchayats to use GIS-based planning for integrated, data-driven, and climate-resilient local development.
    • These initiatives serve as scalable models for land rights formalization, financial inclusion, and decentralized planning, especially relevant for the Global South.

Source: WB1 WB2 PIB

2. Bhutan Launches Crypto-Powered Tourism Payment System

• What:
  • Bhutan has become the first country to launch a nationwide tourism payment infrastructure powered by cryptocurrency, in collaboration with Binance Pay and state-owned DK Bank.
• Why:
  • The initiative aims to simplify travel for crypto users, support financial inclusion, and reduce reliance on traditional banking infrastructure in Bhutan.
• Tell me more:
  • International tourists can use cryptocurrencies such as Bitcoin, Ethereum, BNB, and select stablecoins to pay for visa fees, air travel, accommodations, tour guides, and local market purchases.
  • All transactions are processed through the Binance Pay platform and the system covers over 100 merchants, including those in remote regions.
  • The digital payment system offers vendors alternative access to global payment networks and helps small and medium-sized enterprises reach global capital flows.
  • The system is aligned with Bhutan’s long-term economic development plans, focusing on technology, self-reliance, and digital innovation for sustainable growth.
  • Bhutan’s crypto-enabled tourism system is a rare example of state-level blockchain adoption in public infrastructure.

Source: FIT

3. US and China Agree to Slash Reciprocal Tariffs

• What:
  • The United States and China have agreed to reduce reciprocal tariffs and halt new measures for 90 days to ease trade tensions.
• Why:
  • The deal aims to de-escalate the trade war and improve openness to goods between the two countries.
• Tell me more:
  • Reciprocal tariffs will come down by 115%, with China setting tariffs on US goods at 10%, suspending an extra 24% for 90 days, and removing an additional 91%.
  • Previously, the US had a 145% tariff on Chinese imports, and China had a 125% tariff on US goods, along with restrictions on rare earth exports.
  • The agreement was reached after closed-door talks in Geneva between US Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng.
  • China’s exports to the US fell by over 20% in April, but overall exports rose 8.1% year-on-year due to strong trade with ASEAN and other markets.

Source: IE

Banking and Economy

1. Porter Becomes Unicorn After $200 Million Funding

• What:
  • Porter, an on-demand logistics platform, has raised $200 million in a Series F round led by Kedaara Capital and Wellington Management, entering India’s unicorn club with a valuation of $1.1–$1.2 billion.
• Why:
  • The funding will help Porter expand to more Indian cities, strengthen its technology, and build infrastructure to support over 1 million gig workers.
• Tell me more:
  • Porter operates in 22 Indian cities and two overseas markets, serving over 30 lakh customers and engaging about 3 lakh gig workers monthly.
  • The company provides services like on-demand trucks, two-wheelers, enterprise logistics, and packers and movers.
  • Porter is the second known unicorn from India in 2025, after Netradyne.

Source: TOI

2. SMBC to Acquire 20% Stake in Yes Bank

• What:
  • Sumitomo Mitsui Banking Corporation (SMBC) is acquiring a 20 per cent stake in Yes Bank by purchasing shares from State Bank of India (SBI) and other Indian banks.
• Why:
  • The acquisition aims to strengthen SMBC’s presence in India and may lead to increased foreign investor participation and confidence in the Indian banking sector.
• Tell me more:
  • SMBC will buy 13.19 per cent from SBI and 6.81 per cent from other banks at Rs 21.50 per share.
  • The deal could eventually result in SMBC taking management control of Yes Bank, subject to RBI approval, and possibly raising its stake to 51 per cent, with voting rights capped at 26 per cent or lower.
  • If SMBC crosses 25 per cent, SEBI rules require an open offer for an additional 26 per cent stake.
  • SBI invested around Rs 6,000 crore in Yes Bank in 2020 and has recovered Rs 8,889 crore by selling part of its stake.
  • Other investors in Yes Bank include CA Basque, Verventa Holdings, and LIC, and SMBC will get two board seats.

Source: IE

3. Starlink Gets Indian Government Approval for Satellite Internet

• What:
  • Starlink, owned by Elon Musk, has received regulatory approval from the Indian government to begin offering satellite internet services in India after nearly three years of waiting.
• Why:
  • The approval was given after the government reviewed Starlink’s application from a national security perspective and aims to allow Starlink to proceed with securing a GMPCS (Global Mobile Personal Communication by Satellite) licence.
• Tell me more:
  • The government chose the administrative allocation of spectrum instead of auctions due to the shared nature and technical complexity of satellite spectrum.
  • Starlink will compete with Reliance Jio and Bharti Airtel in the urban and premium markets, but has also entered retail partnerships with both companies.
  • Satellite communication services use satellites in orbit to provide internet and require less ground equipment compared to fibre or cable networks.
  • Starlink currently operates the world’s largest satellite constellation, with about 7,000 satellites in orbit.

Source: IE

4. HCLTech Signs European Commission’s AI Pact

• What:
  • HCLTech has signed the European Commission’s AI Pact to support responsible development and use of AI technologies.
• Why:
  • The pact encourages organizations to follow ethical, safe, and transparent AI practices before the EU’s AI Act becomes fully effective.
• Tell me more:
  • The AI Pact is a voluntary framework launched by the European Commission for responsible AI.
  • HCLTech will adopt an AI governance strategy, identify high-risk AI systems, and promote AI awareness among employees.
  • HCLTech has set up an Office of Responsible AI and Governance to guide responsible AI practices internally and with clients.
  • The company’s responsible AI approach covers accountability, fairness, security, privacy, and transparency.

Source: HCL

5. Ant Financial Sells 4.1% Stake in Paytm Parent

• What:
  • Shares of One97 Communications fell 5% after Ant Financial likely sold 1.70 crore shares, reducing its stake by 4.1% through a block deal.
• Why:
  • The sale was done to offload a part of Ant Financial’s equity in One97 Communications, the parent company of Paytm.
• Tell me more:
  • The shares were reportedly sold at a floor price of Rs 809.7, which is a 6.4% discount to Paytm’s previous closing price.
  • Ant Financial previously held a 9.85% stake in Paytm and aimed to sell shares worth about Rs 2,200 crore.
  • Goldman Sachs (India) Securities Pvt Ltd and Citigroup Global Markets India Pvt Ltd acted as placement agents for the deal.
  • Paytm reported a consolidated net loss of Rs 540 crore in Q4FY25, slightly lower than the previous year, with an adjusted net loss of Rs 23 crore after excluding exceptional items.

Source: ET

6. US Order to Cut Drug Prices Won’t Impact Indian Generics

• What:
  • US President Donald Trump signed an executive order for pharma firms to lower prescription drug prices within 30 days, but Cipla MD and Global CEO Umang Vohra said this will not impact Indian generic drugmakers.
• Why:
  • The order mainly targets branded drugs, and generic drug prices in the US are already low and comparable to global rates.
• Tell me more:
  • The executive order gives drugmakers 30 days to negotiate lower prices, after which a new rule may tie US prices to those in other countries.
  • The measure is currently voluntary and its implementation details are unclear, especially regarding MFN clauses.
  • Cipla’s business continues as usual, with no stoppage or confusion due to tariffs on Indian generics.
  • Even if tariffs are imposed, they are expected to be lower than those on other goods, and the impact on Indian generics is expected to be minimal.

Source: ET

Awards

1. Bhuwan Ribhu Becomes First Indian Lawyer to Win WJA Medal

• What:
  • Bhuwan Ribhu has become the first Indian lawyer to receive the ‘Medal of Honour’ from the World Jurist Association at the World Law Congress in the Dominican Republic.
• Why:
  • The award recognises Ribhu’s two decades of pioneering legal work in child protection.
• Tell me more:
  • Ribhu has led 60 PILs resulting in landmark Supreme Court and High Court rulings, including defining trafficking as per the UN Protocol and addressing India’s missing children crisis.
  • He is the founder of Just Rights for Children (JRC), the world’s largest legal intervention network for child protection, working with 13 NGO partners in 41 districts of Madhya Pradesh.
  • Ribhu’s six-prong PICKET strategy to end child marriage, detailed in his book “When Children Have Children,” has received acclaim and supports India’s goal to end child marriage by 2030.
  • WJA President Javier Cremades praised Ribhu’s lifelong dedication to justice for children and women.

Source: DP

Important Days

1. International Agricultural Argania Day – May 10

2. National Technology Day – May 11

• What:
  • India will celebrate National Technology Day on 11th May 2025 with the theme “YANTRA – Yugantar for Advancing New Technology, Research & Acceleration.”
• Why:
  • The day is observed to honour the major achievements of 11th May 1998, including successful nuclear tests and the first flight of the Hansa-3 aircraft, and to promote scientific excellence and innovation.
• Tell me more:
  • The theme “YANTRA” highlights mechanical innovation and scalable solutions, while “Yugantar” marks India’s shift from adopting to leading in technology.
  • The Technology Development Board under the Department of Science and Technology announced the official theme.
  • National Technology Day was declared by then Prime Minister Atal Bihari Vajpayee to commemorate the 1998 nuclear tests and Hansa-3 flight.

Source: PIB TOI

3. International Day of Vesak or Buddha Purnima 2025 – May 12

4. Ayurveda Day to Be Celebrated on 23rd September Annually

• What:
  • The Government of India has fixed 23rd September as the date for celebrating Ayurveda Day every year, replacing the earlier practice of observing it on Dhanteras.
• Why:
  • The change aims to provide a consistent, globally visible date for Ayurveda Day, avoiding the logistical challenges caused by the variable lunar calendar date of Dhanteras.
• Tell me more:
  • The decision was notified through a Gazette Notification dated March 23 by the Ministry of AYUSH.
  • An expert committee was formed to suggest a fixed date, with 23rd September chosen for practical and symbolic reasons.
  • 23rd September coincides with the autumnal equinox, when day and night are nearly equal, symbolizing balance in nature and aligning with Ayurveda’s philosophy.
  • Ayurveda Day promotes Ayurveda as a scientific, evidence-based, and holistic healthcare system important for preventive care and wellness.

Source: ET

Sports

1. FIFA Women’s World Cup 2027 to be Hosted by Brazil

• What:
  • The 10th FIFA Women’s World Cup will be held in Brazil, as announced at the 74th FIFA Congress in Thailand.
• Why:
  • Brazil was chosen to host the event after beating a joint bid from the Netherlands, Belgium, and Germany.
• Tell me more:
  • This will be the first time the FIFA Women’s World Cup is held in South America.
  • Brazil previously hosted the men’s World Cups in 1950 and 2014.
  • The United States and Mexico, and South Africa, withdrew their bids for the 2027 event.
  • The most recent Women’s World Cup was held in Australia and New Zealand in 2023 with 32 teams.

Source: OC

Memorandum of Understanding

1. C-DOT and CSIR-NPL Sign MoU for Quantum Communication

• What:
  • The Centre for Development of Telematics (C-DOT) and CSIR–National Physical Laboratory (CSIR-NPL) have signed a Memorandum of Understanding to collaborate on research and innovation in quantum and classical communication technologies.
• Why:
  • The partnership aims to enhance India’s self-reliance in communication technologies and develop secure, globally competitive, and future-ready solutions.
• Tell me more:
  • The collaboration will focus on joint R&D, shared access to research facilities, and the development, standardisation, and delivery of secure communication technologies.
  • The MoU includes academic exchanges, workshops, and joint teaching assignments to boost research and innovation.
  • Both organisations will work together on intellectual property management and seek additional funding for shared research goals.

Source: BS

2. C-DOT and Synergy Quantum Partner for Drone-Based Quantum Communication

• What:
  • The Centre for Development of Telematics (C-DOT) has signed a Memorandum of Understanding with Synergy Quantum India Private Limited to jointly develop Drone-based Quantum Key Distribution (QKD) systems using advanced quantum technologies.
• Why:
  • The partnership aims to strengthen India’s self-reliance in secure telecom technologies and support the national vision of “Atmanirbhar Bharat” by advancing indigenous research and innovation in quantum communication.
• Tell me more:
  • The collaboration focuses on developing drone-based QKD systems using the decoy-based BB84 protocol with polarization encoding at Technology Readiness Level 6 or above.
  • Both organisations will co-create research proposals for national and international grants and share research outcomes through publications, white papers, and other platforms.
  • The partnership will include expert talks, short courses, and events such as symposia and conferences on quantum communication research themes.
  • The agreement was signed by leaders from both C-DOT and Synergy Quantum, including Dr. Rajkumar Upadhyay (CEO, C-DOT) and Mr. Jay Oberoi (CEO, Synergy Quantum India).

Source: PIB

Miscellaneous

1. Economist S P Sharma Launched ‘India@2047: Leading the Global Economic Order’ Book

• What:
  • Economist S P Sharma launched the book ‘India@2047: Leading the Global Economic Order’ in New Delhi, focusing on India’s path to global economic leadership by its 100th year of independence.
• Why:
  • The book aims to highlight India’s strong economic momentum, resilience, and strategic policy focus despite global uncertainties.
• Tell me more:
  • The launch event was held at Juniper Hall, India Habitat Centre, with several notable dignitaries present.
  • The book states India’s average GDP growth was over 8% during FY22 to FY24, making India a key driver of global growth.
  • Key enablers mentioned include Make in India, PM Gati Shakti, and Foreign Direct Investment crossing USD 1 trillion.
  • India’s macroeconomic strengths include rising tax revenues, strong forex reserves, and a stable debt-to-GDP ratio.

Source: ANI

2. Bandaru Dattatraya’s Autobiography ‘Janta Ki Kahani’ Released by Vice-President

• Haryana Governor Bandaru Dattatraya’s Autobiography ‘Janta Ki Kahani Meri Aatmakatha’ was released by Vice-President Jagdeep Dhankhar.

Source: GOV

3. Himanshu Roy Authored ‘PMO: Prime Minister’s Office Through the Years’ Book

Source: BS

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