Daily Current Affairs

Union Minister Amit Shah (MHA) launched the redesigned Overseas Citizen of India (OCI) Portal in New Delhi, enhancing digital services for over 5 million OCI cardholders. Available at ociservices.gov.in.

• Original OCI Services portal launched in 2013; active across 180+ Indian missions worldwide and 12 FRROs; processing ~2,000 applications daily
• New features: auto-fill of user profile data, application tracking dashboard, simplified sign-up, and more secure interface

The Department of Economic Affairs (DEA), MoF amended Rule 8 of the Securities Contracts (Regulation) Rules (SCRR), 1957 via Gazette Notification G.S.R. 318(E) on May 19, 2025, under Section 30 of the SCRA, 1956.

• Clarifies that investments by brokers using own funds (not client funds/securities) will not be treated as a separate business activity — removing a major compliance barrier
• Earlier, Rule 8 restricted brokers from engaging in any non-securities business involving financial liability
• Aligns with DEA’s September 2024 stakeholder consultation; modernises India’s capital market ecosystem

The DGFT (Directorate General of Foreign Trade, MoC&I) tightened precious metals import rules, restricting gold and silver entry to only nominated agencies, qualified jewellers, and valid TRQ holders under the India–UAE CEPA.

• Under CEPA: India permits import of up to 200 MT of gold annually from UAE at 1% concessional duty under the Tariff Rate Quota (TRQ) mechanism
• New rules address misuse: importers labelling 99% gold as ‘platinum alloy’ to claim lower tax rates
• Gold 99.5%+ purity: restricted to nominated agencies and India International Bullion Exchange (IIBX)
• Platinum 99%+ purity: now has a dedicated HS Code to prevent reclassification abuse
• Silver bars 99.5%+: remain freely importable subject to RBI norms

The Government e-Marketplace (GeM) celebrated its 8th incorporation anniversary and launched GeMAI — India’s first AI-powered chatbot in the public procurement sector.

IFFCO (Indian Farmers Fertiliser Cooperative Limited — the world’s largest processed fertiliser cooperative) signed an MoU with FDRVC (Foundation for Development of Rural Value Chains, under Ministry of Rural Development) to supply sustainable agricultural inputs to Farmer Producer Organisations (FPOs).

• Expected to benefit 800+ FPOs and ~10 lakh (1 million) farmers across India
• IFFCO will supply: Nano Fertilisers, Bio-stimulants, Specialty Fertilisers, Bio-fertilisers, and Bio-decomposers
• FDRVC will drive outreach, training, and capacity building

DPIIT approved 187 startups for 100% income tax exemption on profits under the revamped Section 80-IAC of the Income Tax Act, 1961, during the 79th and 80th IMB meetings (April 30, 2025).

• Eligible startups can claim 100% tax deduction on profits for any 3 consecutive years within 10 years of incorporation
• Union Budget 2025–26 extended incorporation deadline to April 1, 2030 (from March 31, 2023); applications processed within 120 days
• DPIIT also doubled the CGSS guarantee cover (Credit Guarantee Scheme for Startups) — raised max limit per borrower from ₹10 crore to ₹20 crore

Telangana CM Revanth Reddy launched two flagship initiatives at Hyderabad’s JRC Convention Centre under WE Hub — India’s first state-led incubator:

• Women Acceleration Program (WAP) — targeting empowerment of 1 crore women to become millionaires; supported by MoMSME and World Bank under the RAMP scheme (Raising and Accelerating MSME Performance)
• Grassroot Youth Innovation Program (GYIP) — for rural youth entrepreneurship
• 17 MoUs signed with NSE, NIFT, HP India, and other partners

Assam CM Hemanta Biswa Sarma introduced ANKITA (Assam’s New-age Knowledge-based Information Technology Anchor) — an AI-powered virtual news anchor — to deliver Cabinet meeting updates in Assamese, making Assam the first Indian state to use an AI anchor for official government communications.

• ANKITA’s inaugural broadcast: Cabinet decisions including renaming Dibrugarh Airport after Bhupen Hazarika and one-time financial assistance for tea garden workers

Gujarat CM Bhupendra Patel launched two tech-driven citizen-centric police portals:

• i-PRAGATI (Investigation Progress Report through Automatically Generated Accurate and Timely Information) — sends automated SMS updates to complainants at 4 stages: FIR, panchnama, arrest, chargesheet; integrated with eGujCop
• Tera Tujhko Arpan — cyber crime refund portal via Lok Adalats; online registration without FIR; reduces processing time from 2–3 hours to 15 minutes; cuts pending cases by over 50%
• Bank Account Unfreezing Application — for victims of financial cybercrime; accounts frozen under BNSS 106/Cyber Crime Helpline 1930 can be unfrozen; managed by State Cyber Crime Cell, Gandhinagar

The Maharashtra Cabinet, chaired by CM Devendra Fadnavis, approved a policy mandating the use of Artificial/Manufactured Sand (M-Sand) in all government and semi-government construction projects as a sustainable alternative to river sand.

• Plans 50 crusher units per district (1,500 units statewide); each receiving a subsidy of ₹200 per brass
• M-Sand royalty: ₹200 per brass vs ₹600 for natural sand
• M-Sand must comply with BIS IS 383:2016 quality standards and environmental clearances

The Yala Glacier in Langtang Valley, Nepal was officially declared “dead” at Asia’s first glacier funeral, coordinated by ICIMOD (International Centre for Integrated Mountain Development), Kathmandu. The glacier has lost 66% of its ice and retreated 784 metres since the 1970s.

• Drew over 50 glaciologists, Buddhist monks, and community members from Nepal, India, China, and Bhutan
• Memorial plaques installed in English, Nepali, and Tibetan
• Yala is the 3rd glacier globally and first in Asia to receive such a memorial — after Iceland’s Okjökull (2019) and Mexico’s Ayoloco (2021)

Colombia officially joined China’s Belt and Road Initiative (BRI) by signing a cooperation pact during a meeting between Colombian President Gustavo Petro and Chinese President Xi Jinping in Beijing.

The world’s first commercial-scale e-methanol (electrolyzed methanol) plant commenced operations in Kassø, Southern Denmark, jointly developed by European Energy A/S (Denmark) and Mitsui & Co. (Japan) at a cost of ~€150 million (USD 167 million).

• Produces 42,000 MT (53 million litres) of e-methanol annually
• Powered by the adjacent 304 MW Kassø Solar Park — Northern Europe’s largest solar facility
• Combines green hydrogen with biogenic CO₂ to produce e-methanol with up to 97% lower carbon footprint than fossil-based methanol
• Aligns with IMO’s target to eliminate carbon emissions from shipping by 2050

SEBI mandated the use of the Electronic Book Platform (EBP) for all private placement debt issues of ₹20 crore or above, lowering the threshold from the previous ₹50 crore. New framework also covers REITs, InvITs, and NCRPs (Non-Convertible Redeemable Preference Shares).

• Issuers can reserve up to 30% for AAA–AA- rated instruments; 40% for A+/A-; 50% for lower-rated
• Anchor investors must confirm participation electronically one day prior to the issue
• Changes take immediate effect; anchor investor and disclosure-related clauses: 3–6 months

RBI took three significant regulatory actions:

• ZikZuk (Hyderabad) — fintech startup granted in-principle approval to issue Prepaid Payment Instruments (PPIs); enables prepaid wallets, cards, and UPI payments via Google Pay, Amazon Pay, and CRED
• Emirates NBD Bank PJSC — granted in-principle approval to set up a Wholly Owned Subsidiary (WoS) in India under the foreign bank entry scheme
• HCBL Co-operative Bank, Lucknow — banking licence cancelled w.e.f. May 19, 2025, citing inadequate capital and poor earning prospects

SBI Cards (Gurugram) partnered with Apollo HealthCo (Apollo Pharmacy and Apollo 24|7) to launch the Apollo SBI Card SELECT — a co-branded credit card integrating healthcare benefits with financial rewards.

• Up to 25% value back on Apollo 24|7 app and pharmacy purchases
• ₹1,500 e-gift voucher as welcome benefit
• Annual fee: ₹499, waived on annual spends of ₹1 lakh or more

Reliance Power Limited (RPower), Mumbai, signed a commercial term sheet for a PPA with Bhutan’s Green Digital Private Limited (GDL, subsidiary of DHI) and formed a 50:50 JV to develop Bhutan’s largest solar power project — 500 MW at a capital outlay of ₹2,000 crore.

• Model: Build-Own-Operate (BOO); largest private sector FDI in Bhutan’s solar energy sector
• Rollout over 24 months in phased tranches; target completion: May 2027
• RPower’s total clean energy pipeline: 2.5 GWp in solar

The Hinduja family, led by Gopichand Hinduja, topped The Sunday Times Rich List 2025 for the 4th successive year with a net worth of GBP 35.3 billion (~₹25.3 lakh crore).

The Prime Point Foundation (PPF), Chennai announced the Sansad Ratna Awards 2025 (15th edition) honouring 17 MPs and 2 Parliamentary Standing Committees for exemplary parliamentary performance. Ceremony to be held in New Delhi in the last week of July 2025. Jury headed by Hansraj Gangaram Ahir (Chairman, NCBC).

• Maharashtra leads with 7 awardees; followed by UP, Jharkhand, Rajasthan (2 each); and Odisha, Kerala, Tamil Nadu, Assam (1 each)
• 4 MPs received special awards for Outstanding and Consistent Contribution to Parliamentary Democracy across the 16th, 17th, and 18th Lok Sabhas

Olympic champion javelin thrower Neeraj Chopra was conferred the Honorary Rank of Lieutenant Colonel in the Territorial Army (TA), effective April 16, 2025 (notified in Gazette of India, May 13, 2025). Rank conferred by President Droupadi Murmu under Para-31 of the Territorial Army Regulations, 1948.

• Joined Indian Army as Naib Subedar in 4 Rajputana Rifles (August 2016)
• Promoted to Subedar (2021) after Tokyo Olympics gold; elevated to Subedar Major (2024)

The Government of India approved the appointment of Dinesh Pant and Ratnakar Patnaik as Managing Directors of LIC, effective June 1, 2025, replacing Jagannath Mukkavilli and Tablesh Pandey on their superannuation (May 31).

PTC India Limited (formerly Power Trading Corporation of India, New Delhi) appointed Dr. Manoj Kumar Jhawar as CMD (Chairman and Managing Director), effective May 13, 2025. He brings 30+ years of experience in the power sector.

• Previously served as Director (Finance) at KIOCL Limited (Bengaluru)
• Joined PTC India as Whole Time Director (Commercial & Operations) in January 2024
• Had held additional charge as CMD since June 13, 2024

At the 2025 Italian Open (Internazionali BNL d’Italia) — clay court, Foro Italico, Rome (May 6–18):

Puja Pujara, wife of Test cricketer Cheteshwar Pujara, co-authored (with Namita Kala) the memoir “The Diary of a Cricketer’s Wife: A Very Unusual Memoir” — the first-ever memoir written by an Indian cricketer’s spouse. Published by HarperCollins India, released April 2025.

• Offers an inside view into life as a cricketer’s partner
• Traces Pujara’s cricketing journey from street cricket to Test stardom, and Puja’s own experiences of resilience

The UN observes World Bee Day annually on May 20 to raise awareness of bees and pollinators’ role in biodiversity, food security, and sustainable development.

• Theme 2025: “Bee inspired by nature to nourish us all”
• Proposed by Slovenia (birthdate of apiculture pioneer Anton Janša)
• Adopted by UNGA Resolution A/RES/72/211 on December 20, 2017
• First observed: May 20, 2018

World Metrology Day (WMD) is observed annually on May 20, commemorating the signing of the Metre Convention in Paris on May 20, 1875 — the foundation of the global metric system. 2025 marks its 150th anniversary.

• Theme 2025: “Measurements for all times, for all people”
• Established in 1999 by CIPM during the 21st General Conference on Weights and Measures
• First observed: May 20, 2000
• UNESCO and BIPM co-organised a Paris symposium to mark the 150th anniversary