Current Affairs One - Liner : 24th May 2025

National:

• On May 22, 2025, MoHUA announced a 4% housing reservation for persons with disabilities. This applies to General Pool Residential Accommodation (GPRA) for central government employees. Eligible individuals will receive priority allotment via the eSampada portal using their UDID card.

• On May 20, 2025, Ministry of Home Affairs (MHA) launched the e-Zero FIR system for cyber financial crimes above ₹10 lakh. Complaints via 1930 cyber helpline or NCRP are automatically converted into FIRs for faster action. Piloted in Delhi, it integrates I4C’s NCRP, Delhi Police’s e-FIR platform, and CCTNS for tracking. Victims must visit the cybercrime police station within three days to validate their FIR.
• On May 19, 2025, CSIR-NAL successfully conducted pre-monsoon flight tests of its indigenous High-Altitude Platform (HAP) prototype at ATR, Challakere, Karnataka. The solar-powered stratospheric vehicle reached 24,000 feet, navigating through cloud cove.
• The International Day to End Obstetric Fistula is observed annually on May 23 to raise awareness about this preventable childbirth injury. The 2025 theme, "Her Health, Her Right: Shaping a Future Without Fistula," emphasizes women's reproductive health rights. Established by the UNGA in 2012.
• On May 22, 2025, Kerala became the first Indian state to mandate robotics education for Class 10 students. The Kerala Infrastructure and Technology for Education (KITE) integrated robotics into the ICT curriculum. Students will build AI-powered smart doors and automated sanitiser dispensers using 29,000 robotic kits.
• The Reserve Bank of India (RBI) approved a record surplus transfer of ₹2.68 lakh crore to the central government for FY 2024–25. This is 27% higher than the ₹2.1 lakh crore transferred in FY 2023–24, helping reduce the fiscal deficit. The Contingent Risk Buffer (CRB) was raised to 7.5% of RBI’s balance sheet, ensuring better risk management

International:

• On May 22, 2025, Algeria officially joined the BRICS-backed New Development Bank (NDB). NDB President Dilma Rousseff emphasized Algeria’s strategic role in global finance. The bank has approved 120+ projects worth $40 billion, focusing on clean energy and infrastructure.
• On May 22, 2025, the UK signed a treaty with Mauritius to transfer sovereignty over the Chagos Archipelago. The UK will lease back Diego Garcia for 99 years, paying £101 million annually for its military base. India welcomed the move, calling it a milestone in decolonization and regional stability.

Banking:

• On May 20, 2025, corporate insolvency cases under IBC declined sharply, with new filings dropping to 723 in FY25. The decrease is due to higher out-of-court settlements and stronger financial discipline among borrowers. However, average resolution time rose to 850 days, exceeding the 330-day limit set under IBC.
• On May 19, 2025, IRDAI imposed a ₹1 crore fine on Acko General Insurance for regulatory violations. Acko made unauthorized payments to Ola Financial Services despite its lack of a valid license. The insurer failed to conduct due diligence before outsourcing services, violating Section 40(1) of the Insurance Act, 1938.
• On May 23, 2025, RBI granted QuickPay in-principle approval for a Payment Aggregator (PA) license. Getepay received final authorization to operate as an online PA, becoming Rajasthan’s first licensed PA. Capital India Finance Limited (CIFL) got approval to sell its entire stake in CIHL for ₹267 crore.
• On May 19, 2025, SBM Bank India partnered with ICICI Prudential Life Insurance for a bancassurance alliance. The collaboration offers insurance, savings, and wealth solutions to SBM Bank customers. ICICI Prudential Life Insurance, with an AUM of ₹3.09 lakh crore, aims to expand financial accessibility. It supports India’s insurance penetration, currently at 3.7%, below the global average of 7%.
• On May 21, 2025, RBI approved the rebranding of North East Small Finance Bank to Slice SFB. The change follows Slice's merger with NESFB in October 2024, enhancing fintech-driven banking. Slice SFB will continue offering loans, deposits, credit cards, and digital banking services.
• On May 13, 2025, Punjab National Bank (PNB) signed a pact to sell its entire stake in India SME Asset Reconstruction Company Ltd (ISARC) for ₹34.04 crore. PNB will sell 2.09 crore shares at ₹16.29 per share to Authum Investment and Infrastructure Ltd. The move aligns with PNB’s strategy to exit non-core investments and focus on core banking operations.

Economy:

• On May 23, 2025, CareEdge Ratings projected India’s Q4 FY25 GDP growth at 6.8%. Growth is driven by agriculture, hospitality, transport, and construction, with healthy consumption trends. Central capital expenditure and falling inflation support investment and overall economic stability. The full-year growth estimate stands at 6.3%, slightly lower than earlier projections.
• India’s core sector growth dropped to 0.5% in April 2025, marking an eight-month low. The decline was driven by negative growth in refinery products, fertilisers, and crude oil, while coal and natural gas showed modest gains. The Index of Core Industries (ICI), which makes up 40.27% of the Index of Industrial Production (IIP), saw a sharp slowdown.

Science & Technology:

• On May 20, 2025, Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) developed a super-fast-charging sodium-ion battery using NASICON technology. It charges up to 80% in six minutes and lasts over 3,000 cycles, offering cost-effective energy storage. The design features nanosizing, carbon coating, and aluminum substitution for enhanced performance.
• On May 23, 2025, ZSI scientists discovered a new marine nematode species, Pheronous jairajpurii, on the Tamil Nadu coast. It is only the third known species in the Pheronous genus, previously found in South Africa (1966) and China (2015).

Reports:

• The Global Forest Loss Shatters Records in 2024 report was released on May 21, 2025, by World Resources Institute (WRI) and the University of Maryland’s GLAD Lab. India lost 18,200 hectares of primary forest in 2024, marking an increase from 17,700 hectares in 2023. Global tropical primary forest loss reached 6.7 million hectares, with fires becoming the leading cause of deforestation.

Sports:

• On May 24, 2025, Napoli won the Serie A title in football, defeating Cagliari 2-0 at the Diego Armando Maradona Stadium, Naples. Scott McTominay scored a bicycle kick goal, while Romelu Lukaku sealed the victory in the second half. Napoli finished one point ahead of Inter Milan, securing their second title in three seasons.

Committees:

• On May 19–20, 2025, Bihar hosted its first International Buyer-Seller Meet at Gyan Bhawan, Patna, to boost agri-food exports. Over 70 international buyers from 20 countries explored sourcing opportunities for GI-tagged products like makhana, litchi, mango, and rice. Union Minister Chirag Paswan inaugurated the event, highlighting Bihar’s potential as an agri-export hub. An MoU was signed between APEDA, Bihar Govt., and UAE-based Lulu Group to expand litchi exports.

Appointments:

• On May 23, 2025, Ram Mohan M.K. was appointed as the new Director of Marine Products Export Development Authority (MPEDA). He has extensive experience in seafood marketing, quality assurance, a nd international trade. Previously, he served as Resident Director in Tokyo, facilitating India-Japan seafood exports.
• On May 22, 2025, Tamannaah Bhatia was appointed as the brand ambassador of KSDL, maker of Mysore Sandal Soap. She signed a ₹6.2 crore, two-year contract to expand KSDL’s national and global presence.

Questions:

Q.1 Which country recently joined the BRICS-backed New Development Bank (NDB)?
a) Algeria
b) Egypt
c) Saudi Arabia
d) Ethiopia

Answer: a) Algeria joined the NDB on May 22, 2025, strengthening its role in global finance for clean energy and infrastructure projects.

Q.2 Which state became the first in India to mandate robotics education for Class 10 students?
a) Karnataka
b) Tamil Nadu
c) Kerala
d) Maharashtra

Answer: c) Kerala introduced robotics in the ICT curriculum for Class 10 on May 22, 2025, using 29,000 robotic kits to build AI-powered devices like smart doors.