Current Affairs One - Liner : 23rd May 2025

National:

• On May 20, 2025, Union Finance Minister Nirmala Sitharaman presided over the 16th Annual Day celebration of the Competition Commission of India (CCI) in New Delhi. She emphasized the need for a “light-touch regulatory framework”, balancing regulatory vigilance with a pro-growth mindset.

• On May 9, 2025, Papua New Guinea declared a polio outbreak after detecting cVDPV2 in two healthy children from Lae city, Morobe province. The WHO confirmed the outbreak, citing low immunization rates as a major risk factor for further spread. Papua New Guinea was previously certified polio-free in 2000, but faced a similar outbreak in 2018.
• On May 18, 2025, Adani Defence & Aerospace partnered with Sparton (DeLeon Springs LLC) to indigenise Anti-Submarine Warfare (ASW) systems, including sonobuoys, for the Indian Navy. This collaboration makes Adani Defence the first private Indian company to offer indigenous sonobuoy solutions, reducing India’s reliance on foreign imports.
• On May 22, 2025, TIME released the TIME100 Philanthropy 2025 List, honoring global changemakers in charitable giving. Indians featured include Mukesh & Nita Ambani, Azim Premji, and Nikhil Kamath for their contributions to education, healthcare, and climate action. The Ambani couple donated ₹407 crore ($48 million) in 2024, while Premji committed $29 billion to philanthropy, and Kamath pledged 25% of his wealth.
• On May 22, 2025, Union Minister Dr. Jitendra Singh inaugurated Sagar Bhavan and Polar Bhavan at NCPOR, Goa. Sagar Bhavan features -30°C ice core labs and trace metal analysis facilities, supporting ocean research. Polar Bhavan houses India’s first Polar and Ocean Museum, advanced polar research labs, and a Science On Sphere visualization platform.
• On May 15, 2025, Aerpace Industries Limited unveiled the aerRecon ARM-5, a next-generation surveillance drone under its aerShield initiative. The drone features VTOL capability, AI-powered navigation, and high-speed performance, reaching 125 km/h.
• On May 20, 2025, the MP Cabinet, chaired by CM Mohan Yadav, approved the ‘Rah-veer’ scheme and a ₹2,100 crore Adi Shankaracharya project. The Rah-veer scheme offers ₹25,000 to individuals helping road accident victims, aiming to reduce fatalities.
• On May 16, 2025, the Bihar government approved renaming Gaya town as "Gaya Jee" in a state cabinet meeting chaired by CM Nitish Kumar. The change honors Gaya’s religious and historical significance, especially its link to Vishnupad Temple and Pind Daan rituals.
• On May 19, 2025, Uttarakhand inaugurated its first dedicated Cycad Garden in Haldwani, covering 0.75 hectares and featuring 31 species, including 17 threatened ones, to promote conservation, research, and climate change awareness. Let me know if you need refinements!
• On May 23, 2025, Railway Minister Ashwini Vaishnaw laid the foundation stone for a Wagon Periodical Overhauling (POH) unit at Jamalpur Railway Workshop, Bihar. The ₹79 crore project aims to increase wagon overhauling capacity, improving efficiency and maintenance standards.

International:

• On May 22, 2025, Qatar’s Local Organising Committee (LOC) announced a record prize fund of over $36.5 million for the 2025 FIFA Arab Cup. The tournament, featuring 22 national teams from the Union of Arab Football Associations (UAFA), will be held from December 1 to 18, 2025
• On May 20, 2025, UAE was elected to the Executive Board of IAACA during its first council meeting in Abu Dhabi. IAACA, comprising over 180 member countries, promotes global anti-corruption efforts, transparency, and good governance. The UAE Accountability Authority will help shape global policies, exchange best practices, and strengthen institutional integrity.

Banking:

• On May 17, 2025, SEBI extended the ODIs compliance deadline to November 17, 2025, after market participants requested more time. The framework prohibits ODIs with derivatives as underlying assets and requires additional disclosures from Foreign Portfolio Investors (FPIs). Investors exceeding ₹25,000 crore or 50% holdings in a corporate group must disclose ownership details.
• On May 21, 2025, Morgan Stanley raised India’s GDP growth forecast to 6.2% for FY26 and 6.5% for FY27. The upgrade reflects strong domestic demand, urban consumption, and robust rural spending. Inflation is expected to remain below 4%, supported by stable core inflation and low food inflation trends.
• On May 19, 2025, Coinbase Global Inc. became the first cryptocurrency exchange to join the S&P 500 Index, replacing Discover Financial Services. This milestone signals greater acceptance of crypto in traditional finance, as Coinbase met strict eligibility criteria.
• On May 16, 2025, the Securities and Exchange Board of India (SEBI) approved the merger of Sumuka Agro Industries Limited with Gujjubhai Foods. The merger, pending final approval from the National Company Law Tribunal (NCLT), aims to strengthen Sumuka Agro’s presence in the FMCG sector by combining operational synergies and market strengths. Under the merger terms, Gujjubhai Foods shareholders will receive 17.5 shares of Sumuka Agro for every 10 shares held, increasing the promoters’ stake from 27.71% to 64%.

MoUs:

• On May 17, 2025, Indian Overseas Bank (IOB) signed a Memorandum of Understanding (MoU) with the Indian Institute of Banking and Finance (IIBF) at its Central Office in Chennai to launch an MSME e-learning & certification program. The initiative aims to enhance employees’ knowledge of MSMEs, helping them address credit needs more efficiently.
• On May 18, 2025, the Apparel Export Promotion Council (AEPC) signed an MoU with the Green Business Certification Institute (GBCI) in New Delhi to promote sustainable garment manufacturing. The partnership aims to increase Leadership in Energy and Environmental Design (LEED)-certified garment factories, enhancing energy efficiency, resource conservation, and indoor air quality.

Science & Technology:

• On May 23, 2025, scientists observed two massive galaxies, each with a star population similar to the Milky Way. These galaxies provide insights into stellar formation, galactic evolution, and cosmic structures. Researchers are studying their composition, gravitational interactions, and role in shaping the universe.

Committees:

• On May 21, 2025, Sri Lanka virtually hosted the 24th IORA Council of Ministers Meeting, chaired by Vijitha Herath. The meeting included 22 Member States and 12 Dialogue Partners, focusing on regional cooperation, sustainable development, and maritime security. India, represented by P. Kumaran (MEA Secretary, East), emphasized trade, blue economy, disaster risk management, and counter-terrorism efforts.

Defence:

• On May 21, 2025, the Indian Navy inducted INSV Kaundinya, a recreation of a 5th-century CE stitched sail ship, at Karwar Naval Base, Karnataka. Inspired by a painting in Ajanta Cave 17, it was built using traditional stitching techniques, featuring square sails and a flexible hull.

Important days:

• World Turtle Day is celebrated annually on May 23 to raise awareness about turtle conservation. The 2025 theme, "Dancing Turtles Rock!", encourages a fun and engaging way to protect turtles. Established by American Tortoise Rescue in 2000, it highlights threats like habitat loss and illegal trade.

Appointments:

• On May 20, 2025, Tapan Kumar Deka received a one-year extension as Intelligence Bureau (IB) Director, until June 30, 2026. A 1988-batch IPS officer from Himachal Pradesh, he is known for counter-terrorism and intelligence operations expertise.

Questions:

Q.1 What is Morgan Stanley’s revised GDP growth forecast for India for FY26, announced on May 21, 2025?
a) 5.8%
b) 6.9%
c) 6.5%
d) 6.2%

Answer: d) Morgan Stanley raised India’s GDP growth forecast to 6.2% for FY26, driven by strong domestic demand and consumption.

Q.2 Which company partnered with Adani Defence & Aerospace on May 18, 2025, to indigenise Anti-Submarine Warfare (ASW) systems for the Indian Navy?
a) Lockheed Martin
b) Sparton (DeLeon Springs LLC)
c) Boeing
d) Thales Group

Answer: b) Adani Defence & Aerospace partnered with Sparton to indigenise ASW systems, including sonobuoys, making it the first private Indian company to offer such solutions.