Daily Current Affairs

Governor Ajay Kumar Bhalla inaugurated the 5th Shirui Lily Festival at Shirui Village, Ukhrul, Manipur (May 20–24, 2025), marking the 75th anniversary of the discovery of Shirui Lily (Lilium mackliniae).

• Theme 2025: ‘Celebrating Peace and Harmony in Diversity’ | Organised by Manipur Department of Tourism
• Ukhrul known as ‘crown jewel of Manipur’s hill districts’; promotes eco-tourism and biodiversity conservation
• Governor also launched Farmer FIRST Programme input distribution under ICAR, benefiting farmers from Shangshak Khullen, Ukhrul

CM Devendra Fadnavis launched the Mahavistar AI Application on May 21, 2025 at Yashwantrao Chavan Centre, Mumbai. Developed by the Maharashtra Agriculture Department.

• AI-powered chatbot for: crop selection, sowing methods, fertilizer use, water management, pest control; weather forecasts and agrometeorological instructions
• Linked with SATHI (Seed Authentication, Traceability and Holistic Inventory) portal — a GoI initiative for seed/fertilizer traceability to prevent bogus seeds
• Also present: DCM Eknath Shinde and Agriculture Minister Manikrao Kokate

Outward remittances under RBI’s Liberalised Remittance Scheme (LRS) fell 6.85% YoY to USD 29.56 billion in FY25 (vs USD 31.74 billion in FY24). Decline driven by global uncertainty, stagnant domestic income growth, and high base effect.

RBI monthly bulletin (May 23, 2025) revealed NRI deposits soared to USD 16.16 billion in FY25 — a 9.9% YoY rise from USD 14.7 billion in FY24; an 11-year high.

RBI officially notified the formation of the Payments Regulatory Board (PRB) under Payments Regulatory Board Regulations, 2025 (notified May 21, 2025); replaces BPSS (Board for Regulation and Supervision of Payment and Settlement Systems).

• Chairperson: RBI Governor (Sanjay Malhotra)
• Members: Deputy Governor (T. Rabi Sankar) + 1 RBI-nominated officer + 3 central government nominees (first time)

Vivriti Asset Management (VAM), Chennai secured USD 20 million senior debt from OeEB (Development Bank of Austria, Vienna) for its VIRAF fund.

• VIRAF (Vivriti India Retail Assets Fund): ABS launched March 2023 at GIFT-IFSC, Gandhinagar | corpus target: USD 250 million; currently USD 165 million
• Disbursed USD 200+ million through 25 NBFCs; reached 35,000+ individuals and 1 lakh MSMEs
• 75%+ women beneficiaries

Agnikul Cosmos (IIT Madras Research Park, Chennai) successfully tested India’s first electric motor-driven semi-cryogenic engine on May 23, 2025.

• Fuel: LOX (liquid oxygen, cryogenic oxidizer) + RP-1 (refined kerosene, room-temperature fuel)
• Key advantage: electric motor-driven throttling enables higher accuracy and rapid response for complex orbital trajectories
• Engine, motor drives, and control software developed fully in-house; 3D-printed at Rocket Factory-1, IIT Madras Research Park
• Next step: clustered engine tests for more powerful launch vehicles
• Comparable to global rockets like Falcon 9 and Soyuz

Samtel Avionics (Delhi) partnered with ATSC (Aerospace Technology Systems Corp., Kuantan, Malaysia) to support Royal Malaysian Air Force (RMAF) Su-30MKM aircraft.

• Partnership covers avionics systems, MRO (Maintenance, Repair & Operations), and post-sales support
• Builds on October 2024 agreement: Samtel to equip all 18 Su-30MKM jets with Multi-Function Displays (MFDs) and Head-Up Displays (HUDs)
• ATSC to be Centre of Excellence (CoE); Samtel to transfer technology and develop local expertise in Malaysia

Amity University Online (AUO), Noida signed an MoU with Hockey India to provide educational scholarships to international, national, and state-level hockey players.

• CHAMPS initiative: up to 100% scholarship under Celebrating Heroes with Amity Merit Program Scholarships
• Free 3-month Certificate Course in Sports Psychology; courses offered: B.Com, MBA, BSc
• Women’s Hockey team captain Salima Tete enrolled in Sociology; defender Jyoti Singh enrolled in MBA Marketing
• MoU signed by Bhola Nath Singh (Hockey India Secy General) and Ajit Chauhan (AUO Chairman)

Observed annually on May 24 to raise awareness about the ecological significance and conservation of the markhor (Capra falconeri) — the world’s largest wild goat.

• Found in mountainous regions of Afghanistan, India, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan
• Established via UNGA resolution A/RES/78/278 (May 2, 2024); proposed by Pakistan
• National animal of Pakistan since 1972; known for spiral horns and broad hooves

Established by the National Schizophrenia Foundation (NSF) to honour Dr. Philippe Pinel (1745–1826), French physician who pioneered humane treatment for mental illness. Theme 2025: ‘Rethink the Label: Reclaim the Story’.

• Commemorates May 24, 1792 — when Dr. Pinel began releasing psychiatric patients from chains at Bicêtre Hospital, Paris
• Term ‘schizophrenia’ coined on April 24, 1908 by Swiss psychiatrist Prof. Paul Eugen Bleuler (Greek: schizein = splitting, phren = mind)

India observes Commonwealth Day on May 24 (Queen Victoria’s birthday, born May 24, 1819); globally observed on the 2nd Monday of March (March 10, 2025). Theme 2025: ‘Together We Thrive’.

• Originally celebrated as ‘Empire Day’ from 1902 (after Queen Victoria’s death); made official annual event in 1916
• Renamed ‘Commonwealth Day’ in 1958 by UK PM Harold Macmillan; standardised to 2nd Monday of March in 1977 by Commonwealth Secretariat (India retained May 24 for historical continuity)