Daily Current Affairs

DPIIT (MoC&I) notified the expansion of the Credit Guarantee Scheme for Startups (CGSS), effective 8 May 2025, replacing the earlier notification of 6 October 2022. Key changes:

• Guarantee ceiling per borrower doubled from ₹10 crore → ₹20 crore
• Guarantee cover – 85% of amount in default for loans up to ₹10 crore; 75% for loans above ₹10 crore
• Annual Guarantee Fee (AGF) for startups in 27 Champion Sectors (under Make in India) cut from 2% p.a. → 1% p.a.

MoA&FW data (presented to Lok Sabha, April 2025): 97% of all reported claims under PMFBY (Pradhan Mantri Fasal Bima Yojana) and RWBCIS (Restructured Weather Based Crop Insurance Scheme) have been settled — ₹1,34,353 crore of ₹1,38,401 crore. Four states achieved 100% claim settlement: Goa, Chhattisgarh, Telangana, and Tamil Nadu.

Lowest claims paid: Goa and A&N Islands (₹0.1 cr each), Sikkim (₹0.6 cr).

Maharashtra Government’s CIDCO (City and Industrial Development Corporation) signed agreements with University of York (UK) and University of Western Australia to set up campuses at Educity — CIDCO’s mega education hub in Navi Mumbai. Investment: ₹1,500 crore per campus.

• University of York campus – Expected to commence operations in 2026; pending UGC approval; will offer UG and PG programmes in Computer Science with AI, Cybersecurity, Business, Economics, and Creative Industries
• Educity is designed to host 10–12 universities from the global top-100 ranking

Belagavi (Karnataka)-based SBOF Agrosmart Private Limited launched India’s first AI-powered all-in-one agriculture app — SBOF Agrosmart — in the presence of Karnataka Minister of Public Works Satish Jarkiholi. Integrates AI, IoT, and precision farming tools to deliver real-time, region-specific, data-driven solutions for farmers.

• 24/7 multilingual chatbot for farmer support
• Real-time crop advisory (region-specific)
• Government scheme/subsidy updates integrated
• Addresses challenges like climate change, market price fluctuations, pest/disease outbreaks, and access to modern tools

The Appointments Committee of the Cabinet (ACC) approved a one-year extension for Praveen Sood (1986-batch IPS, Karnataka cadre) as Director of CBI. His original term (ending 24 May 2025) is extended till May 2026. The extension was based on recommendations by the high-level selection committee chaired by PM Modi, comprising Justice Sanjiv Khanna (SCI) and Rahul Gandhi (LoP, Lok Sabha).

The 58th Annual Meeting (AM) of the ADB Board of Governors was held from 4–7 May 2025 at Allianz MiCo-Milano Convention Centre, Milan, Italy. Theme: ‘Sharing Experience, Building Tomorrow’. Inaugurated by ADB President Masato Kanda (Japan). Indian delegation led by Union Minister Nirmala Sitharaman.

• ADB committed USD 5 billion to India in 2024 (loans, grants, and other assistance)
• Board of Governors approved a record USD 1.539 billion (~USD 1.54 bn) net income allocation — the highest ever in ADB’s nearly 60-year history

The Quad nations (India, Australia, Japan, USA) conducted a Tabletop Exercise (TTX) at the Asia-Pacific Center for Security Studies (APCSS), Honolulu, Hawaii (28 April – 2 May 2025) to simulate the launch of the Quad Indo-Pacific Logistics Network (IPLN).

• Quad Pandemic Preparedness Workshop 2025 – New Delhi, 17–19 March 2025
• IPMDA (Indo-Pacific Partnership for Maritime Domain Awareness) – Maritime security and illegal fishing monitoring via satellite