NATIONAL UPDATES:
1. Ambani couple, Premji, Kamath among Time’s most influential philanthropists: Billionaire industrialist Mukesh Ambani and Nita Ambani, former Wipro chairman Azim Premji and Zerodha co-founder Nikhil Kamath have been named by Time magazine in its inaugural list of the 100 most influential people in philanthropy.The list includes Mukesh and Nita Ambani who, Time said, gifted Rs 407 crore (about USD 48 million) in 2024, placing them among the country’s biggest donors.Premji was the first Indian to sign the Giving Pledge and in 2013 endowed the foundation he launched nearly 25 years ago with over USD 29 billion in shares from his company, Wipro.The list also includes co-founder of Zerodha Nikhil Kamath, who in 2023 at age 36 became the youngest Indian to sign the Giving Pledge. The list also includes legendary footballer David Beckham, billionaire philanthropist Warren Buffet, American philanthropist Melinda French Gates and Prince William and Catherine, Princess of Wales.
2. PM Modi inaugurates the Rising Northeast Investor Summit in New Delhi: Prime Minister Narendra Modi inaugurated the two-day Rising Northeast Investors Summit 2025 in New Delhi.The summit aims to showcase the eight northeastern states’ trade and investment potential and encourage international and domestic investment in these states.The Rising Northeast Investors Summit 2025 has been organised by the Union Ministry of Development of North Eastern Region.
3. PM Modi inaugurates 103 redeveloped Amrit Stations in 18 States in Bikaner: Prime Minister Narendra Modi virtually inaugurated the 103 railway stations in 18 states/Union Territories, developed under the Indian Railways’s Amrit Bharat Station Scheme, at a function in Bikaner, Rajasthan.Prime Minister Modi inaugurated, laid the foundation stone, and dedicated multiple development projects worth Rs 26,000 crore to the nation during his visit to Bikaner.The Indian Railway’s 103 railway stations, inaugurated by the Prime Minister, are in 86 districts across 18 states and Union Territories.
4. Manipur Governor Ajay Kumar Bhalla inaugurated the Shirui Lily Festival: Manipur Governor Ajay Kumar Bhalla inaugurated the Shirui Lily Festival, held in the Naga-dominated Ukhrul district after a two-year gap due to the ethnic clashes between the Kuki-Zo and Meitei people.State Flower of Manipur Shirui Lily, scientifically known as Lilium Mackliniae, is a rare and enchanting pinkish-white flower endemic to the Shirui Hill range in Ukhrul district, approximately 83 kilometers from Imphal.Named after Jean Macklin, the wife of botanist Dr. Frank Kingdon Ward, who first spotted the flower in 1946.
5. Oil Spill Near Kerala: On May 25, 2025, a Liberian-flagged cargo ship named MSC ELSA 3 capsized off the coast of Kerala. The vessel was carrying 640 containers, including hazardous materials. Fortunately, all crew members were rescued by the Indian Coast Guard and a Navy ship. However, the incident has sparked fears of a potential oil spill, prompting immediate response measures. An oil spill occurs when petroleum products leak into oceans or rivers. This can happen due to natural disasters, human error, or equipment failure. Oil spills can severely impact marine ecosystems. Oil forms a layer on water, blocking sunlight and disrupting photosynthesis. This affects marine plants and phytoplankton, which are essential for oxygen production.
INTERNATIONAL UPDATES:
1. UK signs deal to hand over Chagos Islands to Mauritius, India welcomes the treaty: The United Kingdom signed an agreement to transfer sovereignty of the Chagos Islands to Mauritius, while securing a lease agreement to maintain a crucial US-UK military base on Diego Garcia for at least 99 years, paying Mauritius $136 million annually for the lease.The Chagos Islands, officially known as the British Indian Ocean Territory, are located in the Indian Ocean about 9,332 km south-east of the UK. The Chagos Archipelago – a group of seven atolls with a population of just over four thousand, was separated from Mauritius in 1965, when Mauritius was still a British colony.Britain purchased the islands for three million pound but Mauritius has argued that it was illegally forced to give them away as part of a deal to gain independence from Britain.In the late 1960s, Britain invited the US to build a military base on Diego Garcia, the largest of the Chagos Islands, removing thousands of people from their homes.
2. UAE elected to executive board of IAACA: The UAE Accountability Authority has been elected to the Executive Board of the International Association of Anti-Corruption Authorities (IAACA) during the body’s first council meeting of 2025.In September 2024, it was elected to the Steering Committee of the GlobE Network, under the United Nations Office on Drugs and Crime, affirming international trust in the UAE’s cross-border cooperation in anti-corruption efforts.The International Association of Anti-Corruption Authorities (IAACA) comprises more than 180 countries and is an independent, non-political organisation dedicated to supporting the implementation of the United Nations Convention against Corruption. It focuses on empowering anti-corruption bodies and facilitating cooperation among them.
3. 23 May – World Turtle Day: World Turtle Day is observed every year on May 23 to raise awareness about the protection and conservation of turtles and tortoises and their disappearing habitats around the world.It was founded in 2000 by American Tortoise Rescue (ATR) to promote humane treatment and encourage laws to protect turtle species.
4. 23 May – International Day to End Obstetric Fistula: The International Day to End Obstetric Fistula is observed every year on 23 May to raise awareness about obstetric fistula, a serious and preventable childbirth injury, and to promote actions towards its elimination.Theme 2025 – Her health, her right: Shaping a future without fistula
5. India Shuts Land Ports With Bangladesh: The order came into effect on May 17, 2025. It prohibits the import of readymade garments from Bangladesh through land ports. However, imports are still permitted via sea ports in Kolkata and Nhava Sheva. The ban extends to various products including fruit, processed foods, cotton, and plastic goods. Indian officials justified the order as a means to ensure reciprocity in trade. The trade restriction was largely prompted by Bangladesh’s previous actions. On April 13, 2025, Bangladesh imposed a ban on the import of cotton yarn from India. Additionally, the suspension of Indian rice exports through the Hili land port further strained relations. Indian officials cited aggressive inspections of Indian trucks by Bangladeshi authorities as a contributing factor.
OTHER UPDATES:
DEFENCE
1. Maoist Insurgency: The Maoist insurgency in India has persisted for decades, affecting vast regions. Union Home Minister Amit Shah has set a deadline of March 2026 to end this conflict. The insurgency primarily involves the Communist Party of India (Maoist), also known as CPI (Maoist). This group seeks to overthrow the current state through a protracted people’s war. The Maoist movement traces back to 1967, originating from the Naxalbari peasant rebellion in West Bengal. This rebellion marked the beginning of insurgency, which has evolved over the years. The term “Naxal” derives from this event. The movement gained momentum in the mid-2000s, impacting around 180 districts across several state of Indias. CPI (Maoist) aims to achieve a New Democratic Revolution in India. Their ultimate goal is to establish communism. The party’s philosophy is rooted in Mao Zedong’s principles, which emphasise the role of the peasantry in revolution. Mao believed that political power is derived from armed struggle, advocating for guerrilla warfare as a means to surround urban centres from rural areas.
SCIENCE AND TECHNOLOGY
1. MHA Launches e-Zero FIR System to Fast-Track Action on High-Value Cyber Frauds: The Ministry of Home Affairs (MHA) has launched the e-Zero FIR system as a pilot project in Delhi to speed up action in cyber financial fraud cases involving ₹10 lakh or more.Complaints made via the National Cybercrime Reporting Portal (NCRP) or helpline 1930 will be automatically converted into Zero FIRs by the Indian Cybercrime Coordination Centre (I4C).The Zero FIR will be initially registered with Delhi’s e-Crime Police Station and later transferred to the appropriate jurisdictional police station.Victims are required to visit the designated cyber-crime police station within three days to get the Zero FIR converted into a regular FIR.The system aims to improve fund recovery chances by enabling faster FIR registration and removing delays caused by jurisdiction issues. What is the e-Zero FIR system?
2. Earth Sciences Minister Jitendra Singh inaugurates “Sagar Bhavan” and “Polar Bhavan”: Union Earth Sciences Minister Dr. Jitendra Singh inaugurated “Sagar Bhavan” and “Polar Bhavan“, India’s first-of-their-kind facilities dedicated to ocean and polar research, respectively.Polar Bhavan, now the largest building at the NCPOR (National Centre of Polar and Ocean Research) campus, spans 11,378 square metres and was constructed at a cost of ₹55 crore. It includes laboratories for polar and ocean research, 55 rooms for scientific personnel, a conference room, seminar hall, library, and canteen.Sagar Bhavan, covering 1,772 square metres, was built at a cost of ₹13 crore. It includes two -30°C ice core laboratories and +4°C storage units for archiving sediment and biological samples. The building also features 29 rooms, including a metal-free Class 1000 clean room for trace metal and isotope studies.“Sagar Bhavan” will serve as the headquarters of the Indian National Centre for Ocean Information Services (INCOIS), supporting advanced marine research and services.
3. New Covid-19 Variant NB.1.8.1: NB.1.8.1 originated from the recombinant ancestor XDV.1.5.1. Its earliest samples date back to January 22, 2025. The variant has been noted for its six spike protein mutations compared to the LP8.1 variant, and eight mutations compared to JN.1. Preliminary data suggest that NB.1.8.1 may have a higher transmissibility rate due to its enhanced binding affinity to human receptors. The mutations in NB.1.8.1 include A435S, V445H, and T478I. These alterations indicate a potential for increased transmissibility and some immune evasion. Reports from China suggest that NB.1.8.1 is spreading rapidly, particularly in regions like Singapore, where weekly cases surged from 11,100 to over 14,000 in early May 2025. Symptoms of NB.1.8.1 largely mirror those of previous Omicron variants. Common symptoms include sore throat, fatigue, mild cough, fever, nasal congestion, headache, nausea, and gastrointestinal issues. Notably, the loss of taste or smell is less frequently reported with this variant.
BANKING AND FINANCE
1. Fitch Ratings Raises India’s Medium-Term GDP Growth Forecast to 6.4% Till FY2026: Fitch Ratings has revised India’s medium-term GDP growth potential upward to 6.4% till FY2026, up from the previous estimate of 6.2%, citing higher labour force participation and less pandemic impact as key factors.While India’s growth outlook improved, Fitch slightly lowered the medium-term GDP potential for 10 emerging markets overall to 3.9%, mainly due to a slowdown in China’s growth prospects.
2. RBI pay Rs 2,68,590.07 crore to the Government as dividend for FY 25: The Reserve Bank of India (RBI) approved a record ₹2,68,590.07 crore surplus transfer to the Central Government for the accounting year 2024-25, as decided in the 616th meeting of the Central Board of Directors chaired by Governor Sanjay Malhotra.The Contingent Risk Buffer (CRB) has been increased from 6.50% to 7.50% under the revised Economic Capital Framework (ECF), considering the macroeconomic conditions and risk assessment.From 2018-19 to 2021-22, the CRB was maintained at 5.50% due to Covid-19-related economic uncertainty. It was raised to 6.00% in FY 2022-23 and 6.50% in FY 2023-24 before reaching 7.50% in FY 2024-The Board also reviewed the domestic and global economic outlook, discussed the RBI’s working for April 2024 – March 2025, and approved the Annual Report and Financial Statements for FY 2024-25.
AWARDS AND HONOURS
1. President Murmu Confers Gallantry Awards at Defence Investiture Ceremony 2025; 6 Kirti Chakras and 33 Shaurya Chakras Awarded for Exceptional Bravery: President Droupadi Murmu conferred 6 Kirti Chakras (including 4 posthumous) and 33 Shaurya Chakras (including 7 posthumous) to personnel from the Armed Forces, Central Armed Police Forces, and State/UT Police during the Phase-I of Defence Investiture Ceremony 2025 held at Rashtrapati Bhavan.The gallantry awards were given for exceptional courage in counter-terror and counter-insurgency operations in Jammu & Kashmir and the North-East, where several terrorists were neutralized, apprehended, and large amounts of arms and ammunition were recovered.Awardees from the Indian Navy and Indian Air Force displayed bravery in high-risk situations — Navy officers during anti-piracy and fire-fighting missions, and Air Force officers during critical aircraft rescue operations where they avoided civilian casualties.
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