23rd May 2025

1. Kanak Budhwar wins Gold in 10m Air Pistol at ISSF Junior World Cup
2. India Post Payments Bank & Aditya Birla Capital Join Hands to Broaden Loan Access Nationwide
3. Fitch Raises India’s Medium-Term Growth Outlook to 6.4% till FY26
4. Government Grants 4% Housing Quota to Disabled Officials in GPRA Pool
5. RBI Sells Nearly $400 Billion in FY25
6. India Takes Over Chairmanship of Asian Productivity Organization for 2025–26
7. India Welcomes UK’s Decision on Chagos Islands Handover
8. President Murmu Confers 39 Gallantry Awards for Bravery and Valour
9. International Day to End Obstetric Fistula 2025
10. “The Diary of a Cricketer’s Wife: Puja Pujara’s Honest Take on Life Beyond the Pitch”
11. Assam Introduces ‘Ankita’: India’s First AI News Anchor in Regional Language
12. Konkan Railway Set to Merge with Indian Railways: What It Means
13. Joe Root Becomes Fastest to 13,000 Test Runs: A Historic Milestone in Cricket
14. World Turtle Day 2025: A Global Call to Protect Ancient Reptiles
15. Saroj Ghose, Pioneer of India’s Science Museums, Passes Away at 89
16. Trump Unveils $175 Billion ‘Golden Dome’: A Space-Age Missile Shield for the US
17. Spurs Beat Manchester United to Clinch Europa League Title
18. FSSAI Launches Crackdown on Illegal Fruit Ripening Practices
19. IREDA Secures ‘Excellent’ DPE Rating, Tops Power & NBFC Sector CPSEs
20. Union FM Nirmala Sitharaman Presides Over 16th Annual Day of CCI in New Delhi
21. India Assumed Chairmanship of APO for 2025-26 at 67th GBM in Indonesia
22. India Participated in 24th IORA Meeting Virtually Hosted by the Government of Sri Lanka
23. UAE Elected as Deputy Chair of IAACA
24. RBI Imposed Monetary Penalties on Deutsche Bank India & Yes Bank for Regulatory Non-Compliance
25. IOB signs MoU with IIBF for customized E Learning and Certification Program on MSME
26. Morgan Stanley upgrades India’s growth forecast to 6.2% for FY26 and 6.5% for FY27
27. Adani Defence & Aerospace Collaborates with Saptun to Indigenise ASW Systems
28. USA-based Coinbase Joins S&P 500 Index as First Cryptocurrency Exchange
29. AEPC Partners with GBCI to Boost LEED-Certified Garment Factories in India
30. IN Inducts INSV Kaundinya, a 5th Century CE Stitched Sail Ship in Karnataka
31. Aerpace Industries Unveils Defence Drones ‘aerRecon ARM-5’ under aerShield
32. MP Cabinet Approves ‘Rah-veer’ Scheme, Rs. 2100 crore Adi Shankaracharya Project
33. Asiatic Lion Census 2025: Gujarat’s Asiatic Lion Population Rises to 891 from 674
34. Bihar Government Renames Gaya Town as “Gaya Jee”
35. Uttarakhand Launches State’s First Dedicated Cycad Garden in Haldwani

National News

1. Finance Minister Attends 16th Annual Day of CCI

• What:
  • Union Finance Minister Nirmala Sitharaman presided over the 16th Annual Day of the Competition Commission of India (CCI) in New Delhi and highlighted CCI’s role in ensuring fair competition in markets.
• Why:
  • The event aimed to emphasize the importance of balanced regulation and pro-growth strategies for inclusive market development and investor confidence.
• Tell me more:
  • The Finance Minister praised CCI for its enforcement against anti-competitive practices and support for innovation and efficiency.
  • She mentioned CCI’s work on the Market Study on Artificial Intelligence and the creation of a Digital Markets Division.
  • Two publications were released: Diagnostic Toolkit Towards Competitive Tenders for Public Procurement and FAQs on Combinations.

Source: PIB

State News

1. Maharashtra Approves Merger of Konkan Railway with Indian Railways

• What:
  • Maharashtra government has agreed to merge Konkan Railway Corporation Limited (KRCL) with Indian Railways, completing the process after approvals from Goa, Karnataka, and Kerala.
• Why:
  • The merger aims to address KRCL’s financial challenges and enable better use of investments for improved connectivity and services.
• Tell me more:
  • Konkan Railway was established in 1990 as a special purpose vehicle to build railway lines through the Western Ghats.
  • The 741 km route connects Roha in Maharashtra to Mangaluru in Karnataka and coastal Kerala, reducing travel time and boosting movement of goods and passengers.
  • KRCL was a joint venture with the Government of India holding 51% and Maharashtra, Karnataka, Goa, and Kerala as other shareholders.
  • The merger is subject to the conditions that the name “Konkan Railway” will continue and Maharashtra will be reimbursed over Rs 394 crore for its initial investment.

Source: IE

2. Madhya Pradesh Approves ‘Rahveer’ Scheme

• What:
  • Madhya Pradesh Chief Minister Mohan Yadav chaired a special cabinet meeting at Rajwada Palace, Indore, marking Devi Ahilyabai Holkar’s 300th birth anniversary year, where several major projects were approved.
• Why:
  • The meeting aimed to celebrate the legacy of Devi Ahilyabai Holkar and approve initiatives for public welfare, urban development, women’s safety, farmer support, cultural promotion, and healthcare.
• Tell me more:
  • The ‘Rahveer’ scheme will reward individuals with Rs 25,000 for helping road accident victims reach hospitals, with protection from police harassment.
  • Metropolitan Development Authorities will be set up in Indore, Bhopal, Ujjain, Gwalior, and Jabalpur for systematic urban growth, with the Chief Minister as chairman.
  • Working women’s hostels will be built in industrial areas under a PPP model, partly funded by CSR contributions, to ensure safety and housing for women.
  • A Rs 2,100 crore project was approved to promote Sanatan traditions around the Adi Shankaracharya statue in Omkareshwar, including facilities for scholars and a 1,000-person hostel.
  • Funds of Rs 773 crore were approved to upgrade Indore’s MY Hospital and Rs 321 crore for Rewa district hospital, with modern medical facilities to reduce dependency on hospitals in Delhi and Mumbai.

Source: ANI

3. 2025 Asiatic Lion Census in Gujarat

• What:
  • The latest lion population estimation in Gujarat has recorded 891 Asiatic lions, showing a 32% increase since 2020 and an expanded habitat range.
• Why:
  • The rise is due to favourable climatic and geographic conditions, along with sustained efforts by the state government to protect and conserve lions.
• Tell me more:
  • The lion habitat now covers 35,000 sq km across 58 talukas in 11 districts, up from 30,000 sq km in 53 talukas in 2020.
  • Asiatic lions have recovered from fewer than 200 individuals in the 1960s, with steady growth and expansion beyond the Gir forest.
  • Only 56% of lions were found in forested areas, with the rest in wastelands, farmlands, and agri-plantations.
  • Population density is much higher in forests (15.2 lions/100 sq km) than in non-forested areas (1.65 lions/100 sq km).
  • The IUCN reclassified Asiatic lions from “critically endangered” to “endangered” in 2008 due to population growth.

Source: IE

4. Bihar Cabinet Approves Renaming Gaya and New Welfare Initiatives

• What:
  • The Bihar government has approved the renaming of Gaya city to ‘Gaya Jee’ and cleared several other welfare proposals in a cabinet meeting chaired by Chief Minister Nitish Kumar.
• Why:
  • The renaming was done to recognize the historic and religious importance of Gaya, and the other approvals aim to support women’s credit access, healthcare, and commemorate a former deputy CM.
• Tell me more:
  • The Bihar State Jeevika Fund Credit Cooperative Society Ltd will be formed, paving the way for the ‘Jeevika Bank’ to provide loans to ‘Jeevika Didis’.
  • The cabinet approved the setting up of the Bihar Cancer Care and Research Society for cancer prevention and treatment.
  • ‘Jeevika Didis’ are women associated with the Jeevika scheme, which focuses on women’s empowerment and livelihood in Bihar.

Source: ET

5. Uttarakhand’s First Cycad Garden Established in Haldwani

• What:
  • Uttarakhand Forest Department has set up the state’s first Cycad Garden at Haldwani, featuring 31 cycad species, including 17 threatened ones.
• Why:
  • The garden was created to conserve threatened cycad species, support research, and raise awareness about their importance and need for protection.
• Tell me more:
  • The garden covers over two acres (about 0.75 hectare) and was funded by the Japan International Cooperation Agency (JICA).
  • Nine of the cycad species in the garden are native to India, while only about 14 cycad species are reported from the country.
  • Prominent native species in the garden include Cycas andamanica, Cycas beddomei, Cycas zeylanica, Cycas pectinata, and Cycas circinalis.
  • Cycads are long-lived, slow-growing, and have low reproductive rates, making them highly vulnerable to habitat loss and disturbance.
  • The garden aims to aid in conservation, plant evolution studies, and understanding climate change impact.

Source: MSN

International News

1. UK Hands Over Chagos Islands Sovereignty to Mauritius

• What:
  • The United Kingdom signed an agreement handing sovereignty over the Chagos Islands to Mauritius and will lease back the military base for at least 99 years.
• Why:
  • The agreement aims to secure the future of the US-UK military base on Diego Garcia, which is important for British security.
• Tell me more:
  • The UK will pay Mauritius 136 million dollars per year to lease the base.
  • The Chagos Islands are located in the Indian Ocean, about 9,332 km south-east of the UK.
  • The military base on Diego Garcia is used by US forces and is considered vital for counter-terrorism and intelligence.
  • The Chagos Archipelago was separated from Mauritius in 1965, before Mauritius gained independence.

Source: NOA

2. 24th Indian Ocean Rim Association (IORA) Meeting of the Council of Ministers (COM)

• What:
  • The 24th Meeting of the Indian Ocean Rim Association (IORA) Council of Ministers was held virtually, hosted by Sri Lanka, where India participated as the current Vice-Chair and will take over as Chair for 2025-2027.
• Why:
  • The meeting aimed to discuss regional cooperation for a sustainable Indian Ocean and to adopt the ‘Colombo Communique’ for future collaboration.
• Tell me more:
  • The meeting had the theme “Sustainable Indian Ocean for Future Generation.”
  • Ministers and high-level delegates from all 22 IORA Member States and 12 Dialogue Partners attended.
  • India’s Secretary (East), P Kumaran, led the Indian delegation and reaffirmed India’s commitment to the region’s well-being.
  • The meeting included discussions on strengthening IORA and regional issues, and condemned terrorism in all forms.

Source: DD MEA

3. UAE Accountability Authority Joins IAACA Executive Board

• What:
  • The UAE Accountability Authority has been elected to the Executive Board of the International Association of Anti-Corruption Authorities (IAACA) during the first council meeting of 2025.
• Why:
  • This election recognizes the UAE’s role in promoting good governance, transparency, and anti-corruption efforts at the global level.
• Tell me more:
  • The UAE Accountability Authority was elected to the Steering Committee of the GlobE Network under the United Nations Office on Drugs and Crime in September 2024.
  • In the same month, the Authority was elected to the Executive Board of the Asian Organization of Supreme Audit Institutions (ASOSAI).

Source: ANI

Banking and Economy

1. RBI Penalises Deutsche Bank and Yes Bank for Non-Compliance

• What:
  • RBI imposed a penalty of Rs 50 lakh on Deutsche Bank AG for not reporting credit information to the Central Repository of Information on Large Credits (CRILC) and fined Yes Bank Limited Rs 29.60 lakh for incorrect customer complaint disclosures in its annual financial statements.
• Tell me more:
  • Deutsche Bank did not report credit information of certain borrowers to the CRILC system.
  • Yes Bank failed to provide correct and complete information about customer complaints for the year 2023-24.
  • RBI clarified that these actions are only for regulatory lapses and do not question the validity of customer transactions.

Source: NOA

2. Coinbase Becomes First Crypto Firm in S&P 500

• What:
  • Coinbase Global, a US-based cryptocurrency exchange, has been included in the S&P 500 Index, replacing Discover Financial Services.
• Why:
  • The inclusion marks the first time a digital asset company is part of the S&P 500, reflecting the growing importance of the crypto sector in mainstream finance.
• Tell me more:
  • The S&P 500 is a market-capitalisation-weighted index tracking 500 leading US companies.
  • Coinbase’s inclusion is effective from May 19, 2025. Coinbase has a market capitalisation of $67.87 billion as of May 19, 2025.
  • Capital One Financial Corp is set to acquire Discover Financial Services, which Coinbase is replacing.

Source: BS

3. AEPC Signs Pact to Promote Green Garment Factories

• What:
  • The Apparel Export Promotion Council (AEPC) has signed an agreement with the Green Business Certification Institute (GBCI) to encourage sustainable manufacturing and increase the number of LEED-certified garment factories in India.
• Why:
  • The partnership aims to help Indian garment factories adopt green practices, reduce resource consumption, and stay competitive in the global market.
• Tell me more:
  • LEED certification is a globally recognised system that measures a building’s environmental impact and sustainability.
  • India currently has only 13 LEED-certified garment factories, while Bangladesh has around 250.

Source: BS

GDP Forecasts

1. Morgan Stanley Raises India’s GDP Growth Forecast

• What:
  • Morgan Stanley has slightly increased its GDP growth forecast for India to 6.2% for FY2026 and 6.5% for FY2027, citing better external demand due to easing US-China trade tensions and strong domestic demand.
• Why:
  • The upgrade reflects improved external demand prospects and the expectation that domestic demand will continue to drive India’s economic growth.
• Tell me more:
  • The previous forecasts were 6.1% for FY2026 and 6.3% for FY2027.
  • Domestic demand, especially consumption and investment, is seen as the main growth driver.
  • Government policy support, including easier monetary policy and focus on capital expenditure, is expected to continue.
  • Urban demand is improving, rural consumption remains strong, and public and household capital expenditure are leading investments.
  • Private corporate capital expenditure is expected to recover gradually.

Source: ET

Defence News

1. Adani Defence Partners with Sparton for Sonobuoy Production

• What:
  • Adani Defence & Aerospace has signed a binding agreement with Sparton to locally assemble advanced electronic systems and Anti-Submarine Warfare (ASW) solutions, making it the first private company in India to offer domestically produced sonobuoy solutions.
• Why:
  • The partnership aims to reduce India’s dependence on foreign suppliers by producing critical underwater surveillance devices within the country, supporting self-reliance and maritime security.
• Tell me more:
  • The collaboration will combine Sparton’s proven technology with Adani Defence’s design, manufacturing, and maintenance strengths.
  • Sonobuoys are essential for underwater surveillance, submarine detection, and protecting strategic naval assets.
  • Historically, India has depended on imports for such technology, but this partnership will help localize assembly and create high-technology skills.

Source: TOI

2. INSV Kaundinya: Ancient Stitched Ship Inducted by Navy

• What:
  • The Indian Navy has formally inducted and named the Ancient Stitched ship as INSV Kaundinya at Naval Base, Karwar.
• Why:
  • The project celebrates India’s shipbuilding heritage and aims to showcase the country’s maritime traditions through the recreation of a 5th century CE stitched sail ship.
• Tell me more:
  • INSV Kaundinya is based on a ship depicted in Ajanta Caves paintings from the 5th century CE.
  • The project was started through an agreement in July 2023 between the Ministry of Culture, Indian Navy, and M/s Hodi Innovations, with funding from the Ministry of Culture.
  • Skilled artisans from Kerala, led by master shipwright Shri Babu Sankaran, constructed the ship using traditional stitching methods with coir rope, coconut fibre, and natural resin.
  • The Indian Navy oversaw the design and technical validation, using iconographic sources and model testing at IIT Madras.
  • The ship will soon begin preparations for a transoceanic voyage along the ancient trade route from Gujarat to Oman.

Source: PIB

3. Aerpace Unveils India’s Next-Gen Smart Drone Ecosystem

• What:
  • Aerpace Industries Limited, with its partners, has developed and tested India’s next-generation smart UAV ecosystem under the aerShield initiative.
• Why:
  • The initiative aims to create AI-powered, modular drone systems for modern warfare that can operate with minimal human intervention and adapt to changing battlefield needs.
• Tell me more:
  • The aerShield ecosystem was developed in collaboration with Aerpace Robotics Pvt Ltd, UAV Tech Pvt Ltd, and Leospear Defence Pvt Ltd.
  • Aerpace Robotics contributed AI and flight software, UAV Tech handled airframe and propulsion, and Leospear Defence managed advanced munitions integration.
  • The core of the system is aerOS, an AI-based platform for autonomous navigation, mission execution, obstacle avoidance, and targeting.
  • The ecosystem includes drones like aerRecon ARM-5 (VTOL), ARM-10 (STOL) for surveillance, and aerReaper AMMO-R7, a kamikaze drone for tactical strikes.
  • Testing is complete, field integration is underway, and live demonstrations for Indian and allied defence forces will begin soon.

Source: BS

Awards

1. Gallantry Awards Presented at Defence Investiture Ceremony 2025

• What:
  • President Droupadi Murmu conferred six Kirti Chakras and 33 Shaurya Chakras to Armed Forces, Central Armed Police Forces, and State/Union Territory Police personnel at Rashtrapati Bhawan.
• Why:
  • The awards were presented to honor extraordinary courage and sacrifice in service to the nation.
• Tell me more:
  • The Defence Investiture Ceremony 2025 recognized 39 personnel, with many awards given posthumously.
  • Kirti Chakra and Shaurya Chakra are among India’s highest peacetime gallantry awards.
  • Major Malla Rama Gopal Naidu and Major Manjit were highlighted for exceptional bravery.
  • Four posthumous Kirti Chakras and seven posthumous Shaurya Chakras were awarded for acts in counter-terror and other high-risk operations.

Source: DD

Important Days

1. World Turtle Day – May 23

Sports

1. Kanak Budhwar Wins Gold at ISSF Junior World Cup

• What:
  • Kanak Budhwar from Rohtak, Haryana, won the gold medal in the women’s 10m air pistol event at the ISSF Junior World Cup 2025 in Suhl, Germany by defeating European Champion Anna Dulce and Chen Yen-Ching of Chinese Taipei.
• Why:
  • The purpose behind her participation was to win a medal for India and showcase her talent on the junior world stage.
• Tell me more:
  • Kanak secured India’s first top finish at the event with a score of 239 in the final.
  • She edged out two-time Olympian and reigning European champion Anna Dulce of Moldova by 1.7 points.
  • Kanak had earlier won a silver medal at the Junior World Championships.

Source: HT

2. Joe Root Becomes Fastest to 13,000 Test Runs

• What:
  • Joe Root became the fastest player to score 13,000 runs in Test cricket during the first innings against Zimbabwe at Trent Bridge.
• Tell me more:
  • Root reached 13,000 runs in just 279 innings of 153 Tests.
  • He is the only English player to cross 13,000 Test runs and the fifth overall to reach this milestone.
  • Root had 12,972 runs before the match and needed 28 runs to enter the 13,000 club.

Source: IE

3. Tottenham Ends Title Drought with UEFA Europa League Win

• What:
  • Tottenham won the Europa League final by defeating Manchester United 1-0, claiming its first European trophy in over forty years.
• Why:
  • The victory ends Tottenham’s long wait for a major title and secures a place in next season’s Champions League.
• Tell me more:
  • Brennan Johnson scored the only goal in the 42nd minute to give Spurs the win.
  • This is Tottenham’s first major trophy since the English League Cup in 2008 and first European title since 1984.
  • Tottenham finished the Europa League season with 10 wins, three draws, and two losses.
  • The win was Tottenham’s 98th in the competition, setting a new record for most wins in the UEFA Cup/Europa League.

Source: IE

Memorandum of Understanding

1. Indian Overseas Bank Signs MoU with IIBF for MSME Training

• What:
  • Indian Overseas Bank (IOB) signed a Memorandum of Understanding (MoU) with the Indian Institute of Banking & Finance (IIBF) for a customised e-learning and certification program on MSME.
• Why:
  • The MoU aims to enhance employees’ knowledge about MSMEs and improve timely and adequate credit support to the MSME sector.
• Tell me more:
  • The MoU was signed at IOB’s Central Office, Chennai.
  • IIBF will provide customised courseware for IOB employees as an e-Book and conduct certification exams through remote proctored mode.
  • Employees who pass the exam will receive a certificate signed by both IOB and IIBF officials.

Source: PSU

Appointments

1. India Assumes Chairmanship of Asian Productivity Organization

• What:
  • India has formally taken over as Chair of the Asian Productivity Organization (APO) for the 2025–26 term during the 67th Session of the Governing Body Meeting in Jakarta, Indonesia.
• Why:
  • The purpose is to advance the APO Vision 2030, expand the Green Productivity 2.0 framework, and promote regional collaboration for digital transformation, sustainability, innovation, and entrepreneurship.
• Tell me more:
  • The Indian delegation is led by Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), and APO Director for India, Shri Amardeep Singh Bhatia, IAS.
  • India aims to contribute to inclusive and results-driven APO programs for the Asia-Pacific region.
  • Over 100 Indian professionals join APO-led capacity-building programs each year through the National Productivity Council (NPC) under DPIIT.
  • Demonstration projects, including Green Productivity and Industry 4.0 for MSMEs, have been implemented across India.

Source: PIB

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