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📝 Revision Notes
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Health & Ayush
India–WHO MoU: Traditional Medicine Module under ICHI
Ministry of Ayush signed an MoU with WHO (May 24, 2025) to develop a Traditional Medicine Module under ICHI (International Classification of Health Interventions), which complements ICD-11. India contributed USD 3 million. This enables global codification and recognition of Ayurveda, Yoga, Unani, Siddha, and Homeopathy practices.
Economy & Northeast
Rising North East Investors Summit 2025 – ₹4.3 Lakh Crore
The Rising North East Investors Summit 2025 at Bharat Mandapam attracted investment proposals worth ₹4.3 lakh crore. Reliance, Adani, and Vedanta collectively pledged ₹1.55 trillion. Targets accelerated development across all 8 northeastern states — leveraging the region’s strategic location bordering Myanmar, Bangladesh, Bhutan, and China.
Infrastructure
Konkan Railway Merger – Maharashtra’s Two Conditions
Maharashtra’s GOM approved the Konkan Railway–Indian Railways merger on two conditions: (1) GoI reimburses Maharashtra’s equity of ₹396.54 crore in KRCL, and (2) the name ‘Konkan Railway’ is retained. KRCL operates the ~741 km Konkan Railway line along India’s west coast, connecting Maharashtra, Goa, and Karnataka.
Banking & Finance
RBI Record Surplus Transfer – ₹2.69 Trillion to GoI (FY25)
RBI’s 615th Central Board (chaired by Governor Sanjay Malhotra) approved a record surplus transfer of ₹2,68,590.07 crore (₹2.69 trillion) for FY25 — 27% higher than FY24’s ₹2.11 trillion. This is the highest-ever RBI dividend to the government, supporting fiscal consolidation and public expenditure capacity.
Education & Research
NIT Calicut joins HERITAGE Network – TU Dresden
NIT Calicut (NITC) was inducted into the HERITAGE Network (Higher Education and Research Innovation Tie-ups for Academic Growth and Excellence) — a consortium of 30 premier Indian and European technical institutions, at TU Dresden, Germany. Promotes joint research, faculty exchange, and collaborative doctoral programmes between India and Europe.
Defence & International
LIMA 2025 – Malaysia Secures USD 2.34 Billion in MoUs
LIMA 2025 (Langkawi International Maritime and Aerospace Exhibition) saw Malaysia secure MoUs worth 11 billion Malaysian Ringgit (~USD 2.34 billion), covering defence satellites and AI in aviation. LIMA is Southeast Asia’s premier aerospace and defence trade show, held biennially in Langkawi, Malaysia.
Sports – Formula 1
Lando Norris Wins 2025 Monaco GP – McLaren’s First Since 2008
Lando Norris won the 2025 F1 Monaco Grand Prix — McLaren’s first Monaco win since 2008 (Lewis Hamilton). It was Norris’ 2nd win of the 2025 season. Monaco GP is held on the Circuit de Monaco — the slowest yet most prestigious race on the F1 calendar, famous for its narrow streets and zero overtaking opportunities.
Sports – Football
Tottenham Wins UEFA Europa League 2025 – First in 41 Years
Tottenham Hotspur defeated Manchester United 1-0 at San Mamés Stadium, Bilbao. First European title since their UEFA Cup win in 1984 — a gap of 41 years. Decisive goal by Brennan Johnson. Spurs qualified for the 2025–26 UEFA Champions League through this win.
Sports
Khelo India Beach Games (KIBG) 2025 – Diu, DNHDD
KIBG 2025 — India’s first national-level beach sports event — held in Diu, DNHDD (May 19–24, 2025). Manipur topped the medal tally. Featured beach volleyball, football, wrestling, and water sports. Part of the Khelo India programme (MoYAS) to develop grassroots sports talent across India.
Science & Space
Jarosite in Gujarat – Mars Mineral Analogue
Jarosite (KFe₃(SO₄)₂(OH)₆ — hydrous iron-potassium sulfate) found in Kachchh, Gujarat was previously identified on Mars by NASA rovers Spirit, Opportunity, and Curiosity. Its presence indicates past acidic, oxidising conditions on Mars. Gujarat’s occurrence serves as a terrestrial analogue for Martian mineralogy studies.
🎴 Revision Flashcards
Click each card to flip and test your recall
Tap to Reveal
What is ICHI and how much did India contribute to the WHO Traditional Medicine MoU?
International Classification of Health Interventions; USD 3 million
Signed May 24, 2025 by Ministry of Ayush; complements ICD-11
Tap to Reveal
What was the RBI’s record surplus transfer to GoI for FY25 and by how much did it rise?
₹2.69 trillion (₹2,68,590 crore); 27% higher than FY24’s ₹2.11 trillion
615th Central Board meeting; chaired by Governor Sanjay Malhotra; highest-ever RBI dividend
Tap to Reveal
What are Maharashtra’s two conditions for approving the Konkan Railway merger?
GoI reimburses ₹396.54 crore equity + ‘Konkan Railway’ name retained
KRCL operates ~741 km west coast line through Maharashtra, Goa, Karnataka
Tap to Reveal
Tottenham won the UEFA Europa League 2025 — their first European title since when?
1984 (UEFA Cup) — a gap of 41 years
Beat Manchester United 1-0 at Bilbao; Brennan Johnson scored; qualifies for UCL 2025-26
Tap to Reveal
What does HERITAGE Network stand for and where was NITC inducted?
Higher Education and Research Innovation Tie-ups for Academic Growth and Excellence; TU Dresden, Germany
30 premier Indian + European technical institutions; promotes joint research & exchange
Tap to Reveal
Which NASA rovers previously identified Jarosite on Mars?
Spirit, Opportunity, and Curiosity
Found in Kachchh, Gujarat; KFe₃(SO₄)₂(OH)₆; indicates past acidic, oxidising Martian conditions
Tap to Reveal
Where was KIBG 2025 held and which state topped the medal tally?
Diu, DNHDD (May 19–24, 2025); Manipur topped
India’s first national beach sports event; part of Khelo India programme (MoYAS)
Tap to Reveal
What was the total investment pledge at the Rising North East Investors Summit 2025?
₹4.3 lakh crore
At Bharat Mandapam; Reliance + Adani + Vedanta pledged ₹1.55 trillion collectively
Think & Discuss
RBI’s Record ₹2.69 Trillion Dividend: Fiscal Windfall or a Warning Sign for Central Bank Independence?
Context from today’s quiz: RBI’s Central Board approved a record surplus transfer of ₹2.69 trillion to the Government of India for FY25 — 27% higher than FY24 and the highest-ever RBI dividend. This comes at a time when the government faces pressures on fiscal consolidation while also needing to fund capital expenditure and welfare schemes. The RBI dividend is governed by the Bimal Jalan Committee framework (2019), which set rules for surplus distribution based on Contingency Risk Buffer (CRB) levels.
🤔 Your Perspective Matters
Central bank surplus transfers to governments are a global phenomenon — the US Fed, Bank of England, and European Central Bank all transfer profits to their respective governments. However, critics argue that consistently large transfers can erode a central bank’s capital buffers, reduce its capacity to absorb shocks, and signal that the RBI is being used as a fiscal instrument rather than an independent monetary authority.
Should there be a statutory cap on how much of the RBI’s surplus can be transferred to the government, to safeguard central bank independence and financial stability buffers?
Should there be a statutory cap on how much of the RBI’s surplus can be transferred to the government, to safeguard central bank independence and financial stability buffers?
- The Bimal Jalan Committee (2019) recommended a Contingency Risk Buffer (CRB) of 5.5–6.5% of RBI’s balance sheet — is maintaining this buffer adequate insurance against a financial crisis, or is it too conservative?
- India’s fiscal deficit target for FY26 is 4.4% of GDP — how much is the government’s fiscal math dependent on RBI dividends, and does this create unhealthy fiscal-monetary entanglement?
- The Rising NE Summit attracted ₹4.3 lakh crore in pledges but ground-level absorption of investment in the Northeast has historically been slow — should RBI dividend proceeds be ring-fenced for specific developmental purposes like NE infrastructure?
We’d love to hear your thoughts! Share your perspective in the comments.
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