NATIONAL UPDATES:
1. Govt Doubles Credit Guarantee Cover to ₹20 Crore to Boost Startups: The government has doubled the maximum guarantee cover under the Credit Guarantee Scheme for Startups (CGSS) from ₹10 crore to ₹20 crore per borrower to improve access to capital for startups.For loans up to ₹10 crore, the guarantee now covers 85% of the default amount, while for loans above ₹10 crore, the coverage is 75%, aimed at boosting credit availability.The expanded scheme is expected to drive innovation, reduce lending risks, and encourage more financial institutions, including banks, NBFCs, and AIFs, to provide credit to startups.The scheme facilitates collateral-free debt, addressing early-stage funding needs without equity dilution, with experts noting its potential to benefit startups if eligibility and disbursement processes are streamlined.Launched under the Startup India initiative (2016) and notified in 2022, the CGSS supports startups and MSMEs, enhancing competitiveness and contributing to the ‘Make in India’ initiative through increased financial support.
2. Haryana Govt Approves ₹10,000 Monthly Honorarium Scheme for Artists: The Haryana government has decided to implement a new scheme titled “Pandit Lakhmi Chand Kalakar Samajik Samman Yojana”, under which eligible artistes will receive a monthly honorarium of Rs 10,000 as financial support from the government.The scheme aims to improve the financial and socio-economic conditions of senior artistes and art scholars who made significant contributions to the field of art during their active lives or who are still contributing to the field but are no longer actively participating due to old age.
3. Government set 354.64 MT target of foodgrain Production for 2025-26: India sets foodgrain production target at 354.64 million tonnes for the 2025–26 crop year, up from 341.55 million tonnes in 2024–25, buoyed by expectations of a better monsoon.Current production has reached 330.92 million tonnes from the Kharif and Rabi seasons in 2024–25; estimates for the summer (zaid) season are still awaited.For rice, the government aims to produce 147.35 million tonnes in 2025–26, compared to 136.44 million tonnes estimated from Kharif and Rabi in the current year.
For wheat, which is grown only in the Rabi season, the target is set at 117.40 million tonnes for 2025–26, slightly higher than the 115.43 million tonnes estimated in 2024–25.
4. Titan names Tanishq CEO Ajoy Chawla as next MD: Titan Company has appointed Ajoy Chawla, the current CEO of Tanishq, as its next Managing Director (MD).Ajoy Chawla will succeed C.K. Venkataraman, who is set to retire in 31 December 2025, after completing his term.Chawla has played a crucial role in expanding the Tanishq brand and driving growth across Titan’s jewellery division.
INTERNATIONAL UPDATES:
1. Bhutan signs MoU with Adani for 5,000 MW hydropower: Adani Group and Bhutan’s Druk Green Power Corporation (DGPC) have signed an MoU to jointly develop 5,000 MW of hydropower projects in Bhutan.The MoU was signed in Thimphu in the presence of Bhutanese Prime Minister Dasho Tshering Tobgay and other senior dignitaries, strengthening Indo-Bhutan energy cooperation.This collaboration expands on their ongoing partnership in the Wangchhu Hydropower Project (570/900 MW), with DGPC holding 51% stake and Adani holding 49% stake.
2. India and Chile Sign Terms of Reference for Comprehensive Economic Partnership Agreement Negotiations: India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA), marking a significant advancement in their bilateral trade relations.The CEPA aims to build upon the existing Preferential Trade Agreement between the two nations. It seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME and critical minerals among others for enhancing economic integration and cooperation.A Framework Agreement on Economic Cooperation was signed between the two countries in January, 2005, followed by Preferential Trade Agreement (PTA) in March, 2006. Since then economic and commercial relations between India and Chile have remained robust and continue to grow.
3. India Champions Inclusive Land Governance at World Bank Land Conference 2025 with SVAMITVA and Gram Manchitra: India, led by Vivek Bharadwaj, Secretary, Ministry of Panchayati Raj, served as a Country Champion at the World Bank Land Conference 2025 (Washington D.C.), highlighting the SVAMITVA Scheme and Gram Manchitra platform as exemplary models of technology-driven rural governance.The SVAMITVA Scheme, discussed in a plenary and a special session titled “Securing Land Rights for a Billion People,” has surveyed 68,000 sq. km, monetized ₹16 trillion in land, and empowered rural livelihoods, particularly for women, by providing secure land ownership and access to credit.In a special technical session, Gram Manchitra, a geospatial planning tool, was showcased by Alok Prem Nagar, emphasizing its role in climate resilience, disaster preparedness, and localized planning, earning appreciation for its relevance to the Global South.
4. Robert Prevost or Leo XIV becomes the first American to become Pope: Robert Francis Prevost became the first American to be elected as the Pope of the Roman Catholic Church. After being elected as the 267th Pope in the Vatican, he assumed the name of Leo XIV.Pope Leo XIV succeeded Pope Francis, who died on 21 April 2025.Pope Leo XIV was elected by a College of Cardinals locked in the Sistine Chapel in Vatican City. As per tradition, they are locked in the Chapel until a new Pope is elected.As per tradition, when the College of Cardinals elects a new Pope, white smoke comes out of the Sistine Chapel’s chimney, signalling the election of a new Pope to the world.
5. May 10 – World Lupus Day: World Lupus Day is observed every year on May 10 to raise awareness about lupus, a chronic autoimmune disease that can damage any part of the body including skin, joints, and organs.The day aims to highlight the physical, emotional, and economic impact of lupus and advocate for better healthcare services, research funding, and patient support worldwide.Theme 2025 – Belief. BreakthroughsThe initiative was first launched in 2004 by the World Lupus Federation, involving patient organizations from around the world.
OTHER UPDATES:
DEFENCE
1. SONGAR Drones: In early May 2025, Pakistan executed drone and missile offensive against India. This escalation followed a deadly terror attack in Pahalgam, resulting in civilian casualties. The Ministry of External Affairs of India confirmed the use of Turkish-made SONGAR drones in this operation. The incident marks the complex geopolitical dynamics in South Asia, especially with Turkey’s backing of Pakistan. SONGAR drones are armed unmanned aerial vehicles developed by the Turkish defence firm ASİSGUARD. Introduced in 2020, these drones are designed for both domestic and battlefield operations. They feature a compact design and tactical flexibility, making them effective in various combat scenarios.
SPORTS
1. Aryna Sabalenka Clinches Third Madrid Open Title with Win Over Coco Gauff: World No. 1 Aryna Sabalenka defeated Coco Gauff 6-3, 7-6 (7/3) to win her third Madrid Open title, marking her 31st career victory on Madrid clay.This was Sabalenka’s sixth final of the year and her 37th overall, and she has now won WTA titles in Brisbane, Miami, and Madrid in 2024.Gauff, who had defeated Iga Swiatek in the semifinals, was overpowered by Sabalenka’s consistent play and a tie-break finish sealed by Gauff’s double fault.
SCIENCE AND TECHNOLOGY
1. DPIIT and Häfele India Ink MoU to Boost Innovation and Manufacturing Ecosystem: The Department for Promotion of Industry and Internal Trade (DPIIT) and Hafele India Pvt. Ltd signed an MoU in New Delhi to empower startups, MSMEs, and entrepreneurs, with a focus on boosting product innovation, local sourcing, and strengthening India’s manufacturing ecosystem.Under this collaboration, Häfele will invest in Indian startups, offer infrastructure, technical support, and market access, and integrate them into global value chains—including a prior $2.5 million investment in an Indian appliance startup.The partnership aligns with the ‘Make in India’ and ‘India for the World’ vision, combining global best practices with local innovation, and will remain in effect for two years, with the possibility of extension.
BANKING AND FINANCE
1. IEA’s Global Methane Tracker 2025: The main sources of methane emissions include agriculture, energy, and waste. The energy sector alone accounts for over 35% of human-related methane emissions. Within this sector, oil operations contributed around 45 million tonnes, natural gas operations nearly 35 million tonnes, and abandoned wells around 3 million tonnes. Coal also plays a role, emitting over 40 million tonnes, with contributions from abandoned mines and end-use equipment. Bioenergy is another source, responsible for approximately 18 million tonnes of methane emissions. This primarily results from the incomplete combustion of traditional biomass used for cooking and heating in developing countries. Modern bioenergy technologies, such as biogas and biofuels, also contribute to methane emissions but offer lower emissions options if managed correctly.
AWARDS AND HONOURS
1. Sonu Sood to Receive Humanitarian Award at Miss World 2025 for Covid-19 Relief Efforts: Actor Sonu Sood will be honored with the Humanitarian Award at the 72nd Miss World Festival at HITEX Arena, Hyderabad, for his extensive relief work during the Covid-19 pandemic through the Sood Charity Foundation.Julia Morley, Chairperson of the Miss World Organisation, praised Sood’s efforts as embodying ‘Beauty With A Purpose,’ noting his inspiring contributions to humanity, while Sood will also serve as a judge at the Miss World 2025 grand finale.During the lockdown, Sood facilitated transport for stranded workers, provided medical aid, and launched free education and job training programs, significantly impacting lives.
2. Nicaragua’s La Prensa Newspaper Awarded 2025 UNESCO/Guillermo Cano World Press Freedom Prize: La Prensa, a Nicaraguan newspaper, has been honored with the 2025 UNESCO/Guillermo Cano World Press Freedom Prize for its outstanding commitment to press freedom and journalistic integrity.The award highlights La Prensa’s resilience in upholding independent journalism, often under challenging circumstances, as recognized by UNESCO’s international jury.The UNESCO/Guillermo Cano Prize, named after the assassinated Colombian journalist, celebrates contributions to free expression, with La Prensa joining a legacy of global defenders of press rights.
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