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CURRENT AFFAIRS : BANKING & FINANCE

Finance Ministry Releases Draft 'Climate Taxonomy' Framework to Boost Clean Energy Investments

• The Finance Ministry has released the draft ‘Framework of India’s Climate Finance Taxonomy’ to direct investment towards clean energy projects and infrastructure that can withstand climate change-related weather threats.
• Objective of the Taxonomy:Thetaxonomy aims to guide investments in climate-friendly technologies and activities to help India achieve Net Zero by 2070.
• It will also ensure long-term access to reliable and affordable energy while preventing green-washing and aligning with the Viksit Bharat vision for 2047.

What is Climate Finance Taxonomy?

• A climate finance taxonomy classifies which parts of the economy are consistent with sustainable investments and guides investors and banks in directing funds to impactful projects.
• It classifies activities into ‘climate supportive’ or ‘climate transition’, which includes:
• Reducing greenhouse gas emissions
• Emissions intensity reduction
• Adaptation solutions to reduce climate change risks
• Research and development in these areas
• Key Sectors Covered:Major sectors targeted include:
• Power
• Buildings
• Mobility
• Agriculture
• Food
• Water security
• Challenges in Scaling Investments:India needs to increase its installed capacity from 470.4 GW (Feb 2025) to 777.14 GW by 2029-2049.
• Strategic investments are needed in Advanced Ultra Super Critical (AUSC) thermal power plants to reduce emissions and improve efficiency (46% efficiency target compared to 38-42% in subcritical and supercritical plants).
• Adaptation Communication and Investment Needs:Cumulative expenditure required for adaptation actions (agriculture, forestry, infrastructure, water resources, ecosystems) is estimated at ₹56.68 trillion (approx. USD 648.5 billion) by 2030 at 2023-24 prices.
• Financial Gap in Climate Finance:Developed countries pledged $300 billion annually by 2035 as the New Collective Quantified Goal for climate finance, but the actual requirement is $1.35 trillion, with disagreement over the definition of climate finance.

Recent News :

• In March 2025, the Finance Ministry notified Zero Coupon Bond (ZCB) for Power Finance Corporation.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

Reserve Bank of India Designates Fixed Income Money Market and Derivatives Association of India (FIMMD)as Self-Regulatory Organisation (SRO) for Financial Markets Under New Guidelines

• The Reserve Bank of India (RBI) has officially recognised the Fixed Income Money Market and Derivatives Association of India (FIMMDA) as a Self-Regulatory Organisation (SRO) for the financial market.

Key Highlights :

• New Framework by RBI: In August 2024, RBI introduced a comprehensive framework for recognising SROs in financial markets. It outlines:
• Objectives and responsibilities
• Eligibility criteria
• Membership and governance standards
• Application and recognition process
• FIMMDA’s Role : FIMMDA is now officially the first entity to be recognised under the new SRO framework.
• Will operate within the RBI-defined guidelines for SROs.
• Aims to ensure standardised market practices and enhanced transparency.

What Is SRO?

• A self-regulatory organization (SRO) is an entity such as a non-governmental organization, which has the power to create and enforce stand-alone industry and professional regulations and standards on its own.
• In the case of financial SROs, such as a stock exchange, the priority is to protect investors by establishing rules, regulations, and setting standards of procedures that promote ethics, equality, and professionalism.

About FIMMDA:

• Established in
• Represents scheduled commercial banks, primary dealers, public financial institutions, insurance companies, etc.
• Functions as a calculation agent for:
• Daily valuation of government securities and corporate bonds.
• Administers key benchmarks, like the FIMMDA–NSE Overnight MIBOR.
• Recognised by RBI as the benchmark administrator for all Indian rupee interest rates.

Reserve Bank of India Unveils Framework to Streamline Regulatory Drafting and Stakeholder Consultation Process

• The Reserve Bank of India (RBI) has introduced the “Framework for Formulation of Regulations” to standardize the regulatory formulation and public feedback process.
• Draft Regulation Publication:RBI will publish the draft regulation on its website along with a statement of particulars.
• The draft will be open for public comments for at least 21 days.
• Public Feedback Process:After receiving public comments, RBI will consider the feedback and publish a general statement of response along with the final regulation on its website.

Key Highlights :

• Statement of Particulars:The statement will include:
• Enabling provision(s) for issuing the regulation.
• Objectives of the regulation, including impact analysis (where feasible).
• Guidance from international bodies and best practices.
• Implementation details and timelines for receiving public comments.
• Substantial Changes in Final Regulation:If the final regulation differs significantly from the draft, the RBI may repeat the process of seeking public comments.
• Final Regulation Publication:Once approved, the final regulation will be published promptly, specifying its enforcement date.
• Additional Stakeholder Engagement:RBI may issue discussion papers to solicit responses on specific issues before publishing the draft regulation.
• Review of Regulations:RBI will periodically review its regulations considering:
• Objectives of the regulation.
• Experience gained from surveillance, supervision, and enforcement actions.
• Court or tribunal orders.
• Global best practices and standards.
• Modification or Dispensation:RBI can modify or dispense with the framework’s provisions if confidentiality is required or if urgent intervention is needed for the public interest.
• Flexibility for Public Interest:RBI may also alter the framework for expedience in the public interest or when urgent action is required.

Recent News:

• In May 2025, to fine-tune India’s monetary policy based on real-time household sentiments, the RBI has initiated three surveys: the Inflation Expectations Survey of Households (IESH), the Urban Consumer Confidence Survey (UCCS), and the Rural Consumer Confidence Survey (RCCS).

About RBI :

• Established : 1 April 193
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

India Set to Overtake Japan as World’s Fourth-Largest Economy in 2025: IMF April Outlook   

• According to the latest World Economic Outlook released by the International Monetary Fund (IMF), India is set to become the world's fourth-largest economy in 2025, surpassing Japan.
• India's nominal GDP is projected to reach 4,187.02 billion dollars in 2025, just ahead of Japan's 4,186.43 billion dollars.

Key Highlights :

• Growth Forecast:India is expected to remain the fastest-growing major economy, with a growth rate above 6% for the next two years (2025-2026).
• By 2028, India’s GDP is projected to rise to 5,584.48 billion dollars, positioning it as the third-largest economy, ahead of Germany.
• Japan's Economic Outlook:Japan's growth is expected to be muted, with just 0.6% growth forecasted for 2025 and 2026, largely due to the global trade slowdown impacting its export-driven economy.
• Germany's Economic Outlook:Germany, currently the fourth-largest economy, is predicted to experience zero growth in 2025, with a modest recovery of 0.9% in 2026.
• Germany is expected to be significantly impacted by ongoing trade tensions.
• Global Economic Ranking in 2025:The United States will remain the largest economy with a projected GDP of 30,507.22 billion dollars in 2025.
• China, the second-largest economy, is projected to have a GDP of 19,231.71 billion dollars in 2025.
• India's Economic Momentum:India's robust economic growth is expected to propel it further up the global rankings, with strong economic momentum supporting its position in the coming years.

Recent News:

• The government has terminated the services of Krishnamurthy V Subramanian as its executive director at the International Monetary Fund (IMF) with immediate effect, about six months before his three-year tenure was due to end

Unified Payments InterfaceQR Codes See 91.5% Growth in Digital Payments Infrastructure in FY 2024-25, Reaching 657.9 Million

• According to the latest data from the Reserve Bank of India (RBI), Unified Payments Interface (UPI) QR codes recorded the fastest growth in digital payments infrastructure in the financial year 2024-25, with a 91.5 per cent jump over the previous year, reaching 657.9 million.

Key Highlights :

• Credit and Debit Card Growth:Credit card transaction growth slowed to 7.94% year-on-year.
• Debit card growth was modest, rising only 2.7%, bringing the total number of debit cards in circulation to 991 million.
• Factors Contributing to UPI QR Growth:The expansion of UPI QR codes is largely attributed to major payment platforms such as Google Pay, Paytm, and PhonePe.
• An increasing number of banks are joining the UPI network, reaching 668 banks by April 2024.
• UPI Transaction Records:UPI transactions in March 2025 hit a record ₹24.77 lakh crore, reflecting a 25% increase in value and a 36% rise in volume compared to March 2024.
• UPI's Share of Digital Payments:UPI's share of total digital payment volumes increased from 73.4% in FY23 to 79.7% in FY24.
• RBI's "Har Payment Digital" Campaign:
  The RBI has launched initiatives such as the "Har Payment Digital" campaign to promote digital transactions across the country.
• RBI's Flexibility on UPI Transaction Limits: The RBI has granted flexibility for revising UPI transaction limits for in-person merchant payments, with NPCI allowed to adjust limits based on user requirements and safeguards.

Securities and Exchange Board of India Mandates ₹1 Crore Minimum Investment and Demat for Securitised Debt Instruments

• Markets regulator Securities and Exchange Board of India (SEBI) mandates a minimum ticket size of ₹1 crore for securitised debt instruments (SDIs) for both RBI-regulated and unregulated originators involved in securitisation activities.
• Definition of Securitised Debt Instruments (SDIs):SDIs are financial products created by pooling various types of debt (such as loans, mortgages, or receivables) and selling them as securities to investors.
• Purpose of Securitisation:Securitisation helps convert illiquid assets into liquid ones, providing alternative funding sources for originators (like banks).

Key Highlights:

• Subsequent Transfers:Theminimum ticket size for subsequent transfers of SDIs will also be ₹1 crore for originators not regulated by the Reserve Bank of India (RBI)
• Listed Securities Underlying SDIs:For SDIs backed by listed securities, the minimum ticket size will be the highest face value among the underlying securities.
• Public Offers for SDIs:Public offers for SDIs must remain open for a minimum of three days and a maximum of ten days, with advertisement requirements in line with SEBI's regulations for non-convertible securities.
• Risk Management and Retention:Originators must retain at least 10% of the risk in the securitised pool.
• For receivables with a maturity of up to 24 months, the retention requirement is 5%.
• Holding Period Requirement:SEBI mandates a minimum holding period for originators:
• 3 months for loans with a tenor of up to two years
• 6 months for loans with a tenor of more than two years
• Amendment of Rules: SEBI has amended the "issue and listing of securities debt instruments and security receipts"rules to enforce these new requirements.
• Optional Clean-up Call:Originators can optionally repurchase up to 10% of the original value of the assets to manage the longevity of the pool.
• Permissible Assets Underlying SDIs: The updated definition of "debt/receivables" limits underlying assets to:
• Listed debt securities
• Accepted trade receivables
• Rental incomes
• Equipment leases
• Re-securitisation and synthetic securitisation are disallowed

Recent News :

• In March 2025, SEBI launched a centralized database portal for corporate bonds called Bond Central to provide a single, authentic source of information on corporate securities.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 199
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

CURRENT AFFAIRS: NATIONAL NEWS

Development of Telematics (C-DOT)andCSIR-National Physical Laboratory (CSIR-NPL)Forge Strategic Partnership in Classical & Quantum Communications

• The Centre for Development of Telematics (C-DOT) and CSIR-National Physical Laboratory (CSIR-NPL) have signed an MoU to establish a long-term framework for joint R&D, standardization, and innovation in next-generation classical and quantum communication technologies.
• This collaboration combines C-DOT’s telecom expertise with CSIR-NPL’s metrology leadership to drive indigenous, globally competitive solutions.

Key Highlights:

• Quantum Key Distribution (QKD): Joint development and characterization of QKD systems, including single-photon sources and detectors.
• Standards & Traceability: Co-creation of SI-traceable measurement protocols and EIT-based quantum system benchmarks.
• FPGA-Based Control Electronics: Collaborative design of FPGA controllers for high-speed quantum communication hardware.
• Shared Infrastructure: Reciprocal access to advanced research facilities and technical expertise at both institutions.
• Academic Exchange: Regular guest lectures, workshops, and cross-institutional training to build a skilled talent pool.
• IP & Data Framework: Development of a joint intellectual property policy ensuring clear ownership, usage rights, and publication guidelines.
• National Priorities: Alignment with Atmanirbhar Bharat and Make in India initiatives to achieve technological sovereignty in secure communications.

India Launches Non-Ferrous Metal Recycling Portal to Propel Circular Economy

• Union Minister Shri G. Kishan Reddy inaugurated the National Non-Ferrous Metal Scrap Recycling Portal, under the National Scrap Recycling Framework.
• The digital platform offers a transparent registry and real-time data for recycling aluminium, copper, lead, zinc, and critical minerals, strengthening India’s drive toward resource efficiency and reduced import dependency.

Key Highlights:

• Platform Objectives: Establish a national registry for recyclers, dismantlers, traders, and collection centres to foster an integrated ecosystem.
• Data-Driven Policy: Provide real-time insights on material flows, recycling capacities, and workforce trends to support evidence-based decision-making.
• Infrastructure Mapping: Identify regional gaps and sectoral needs for standards, certification, and skill development.
• Stakeholder Engagement: Offer updates on policy changes, research outcomes, and upcoming meetings to enhance industry participation.
• Government Support: Developed by JNARDDC and aligned with Make in India and Atmanirbhar Bharat goals to boost the circular economy.
• Access Point: Portal available at https://nfmrecycling.jnarddc.gov.in for all registered entities and policymakers.

India Rolls Out Biometric Chip-Enabled Passports to Bolster Travel Security

• India has commenced issuing chip-based e-passports, embedding RFID chips with citizens’ biometric data to deliver tamper-proof, internationally compliant travel documents.

Key Highlights:

• April 1, 2024 Pilot: Rollout began under Passport Seva Programme 2.0, with select RPOs in 12 cities issuing e-passports.
• RFID Chip & Antenna: Securely stores facial, fingerprint, and personal data, making passports extremely difficult to forge.
• Scannable Barcode: Enables digital retrieval of residential details by immigration authorities, replacing printed address pages.
• 2025 Passport Rules:
  • Birth Certificate Mandatory for applicants born on or after October 1, 2023.
  • Parents’ names removed to streamline personal data.
• Global Compatibility: Aligns India with nations like the USA, UK, and Germany, enhancing fraud prevention and paperless governance.

CURRENT AFFAIRS: STATE NEWS

Maharashtra Unveils ‘Adishakti Abhiyan’ on Ahilyabai Holkar’s 300th Birth Anniversary

• To honor the 300th birth anniversary of Ahilyabai Holkar, the Maharashtra government has launched the Adishakti Abhiyan, a Rs 10.50 crore campaign aimed at strengthening delivery of women’s and children’s welfare schemes.
• The initiative targets key social challenges at the grassroots level and seeks to boost women’s participation in local governance.

Key Highlights:

• Malnutrition & Mortality: Focuses on reducing child malnutrition, maternal and infant mortality through improved scheme outreach.
• Child Marriage & Violence: Aims to prevent child marriage and tackle gender-based violence via village-to-state-level committees.
• Local Governance: Encourages female representation in Panchayati Raj Institutions, with mandatory Panchayat Samiti involvement.
• Adishakti Awards: Introduces awards to honor outstanding Gram Panchayats for effective implementation—evaluated annually from January to December.
• Multi-Tier Committees: Establishes committees at village, taluka, district, divisional, and state levels, collaborating with Anganwadi workers and Taluka Protection Officers.
• Counseling& Support: Committees will counsel families, prevent early marriages, and assist victims of abuse.

RECENT NEWS

• In the latest CareEdge Ratings State Ranking 2025, Maharashtra, Gujarat, and Karnataka have emerged as the top three states based on their overall performance across seven key pillars: economic, fiscal, infrastructure, financial development, social, governance, and environment.
• Maharashtra Governor C.P. Radhakrishnan conferred the 3rd edition of the ‘Yashraj Bharti Samman’ awards to three notable grassroots-level organizations for their exemplary contributions in the fields of healthcare, education for sustainable development, and governance.

Kerala Launches ‘Jyothi’ Scheme to Mainstream Education for Migrant Children

• Kerala has introduced the ‘Jyothi’ scheme to enrol children of migrant workers in public schools and anganwadis, ensuring educational continuity, healthcare access, and social inclusion despite frequent relocations.

Key Highlights:

• Age-wise Integration: Children 3–6 years to join anganwadis, while those 6+ years will be admitted into public schools.
• May 2025 Field Campaign: A month-long outreach led by local self-governments, Kudumbashree workers, teachers, and PTAs to map and register migrant settlements.
• Customised Curriculum: SCERT will develop language-bridging and culturally sensitive modules for smoother classroom adaptation.
• Health & Welfare Support: Provision of regular health check-ups, medical camps, and hygiene awareness sessions to safeguard children’s well-being.
• Recreational Inclusion: Creation of public activity spaces for arts, sports, and cultural exchange to foster social integration.
• Continuity Focus: Designed to maintain academic progression across seasonal migrations, reducing drop-out risks and promoting inclusive development.

RECENT NEWS

• The Kerala State Electricity Board (KSEB) is working towards a groundbreaking initiative in integrating Vehicle-to-Grid (V2G) technology into the state’s power system.
• In a major collaborative conservation effort, the states of Kerala and Tamil Nadu are set to conduct a synchronised Nilgiri Tahr census from April 24 to 27, 2025.
• As of March 27, 2025, Kerala, Tamil Nadu, and West Bengal have not received any funds from the central share under the Samagra Shiksha Abhiyan (SSA), despite having approved allocations for the financial year 2024–25.

CURRENT AFFAIRS: AWARDS AND HONOURS

Russia Unveils Delhi Memorial Honouring Biju Patnaik’s Stalingrad Service

• At the Russian Embassy in New Delhi, a memorial plaque was unveiled commemorating Biju Patnaik’s daring supply missions to the Red Army during the Battle of Stalingrad.
• The ceremony, attended by Naveen Patnaik and Ambassador Denis Alipov, highlights India–Russia wartime solidarity and Patnaik’s legacy as both aviator and statesman.

Key Highlights:

• Battle of Stalingrad Contribution: Patnaik flew Douglas C-47 Dakotas through enemy defenses between August 1942 and February 1943 to deliver critical supplies to Soviet forces.
• WWII Service Record: Joined the Royal Indian Air Force in 1936, also undertaking evacuation missions in Rangoon and support operations for China and Indonesia.
• International Recognition: His coffin was draped in the Indian, Indonesian, and Russian flags, symbolizing his global impact.
• Historical Significance: Memorial underscores India’s pre-independence role in anti-fascist efforts and cements Patnaik’s place in global WWII history.
• Ceremonial Dignitaries: The plaque unveiling by former Odisha CM Naveen Patnaik and Ambassador Denis Alipov strengthens diplomatic and cultural ties.

RECENT NEWS

• India and Russia have agreed on six new strategic projects to bolster bilateral investment ties, marking a significant step in deepening their economic cooperation. This agreement was made during the 8th Session of the India-Russia Working Group on Priority Investment Projects (IRWG-PIP), held in New Delhi.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Mikaela Cojuangco Jaworski Named Chair of Coordination Commission for Brisbane 2032

• Mikee Cojuangco-Jaworski has been appointed as the Chair of the International Olympic Committee (IOC) Coordination Commission for the 2032 Olympic Games in Brisbane, Australia.

About Mikee Cojuangco-Jaworski :

• Cojuangco-Jaworski is a former equestrian athlete who represented the Philippines
• She has been a member of the IOC Executive Board (EB) since 2020.
• The previous chair, Kirsty Coventry, became the first female IOC President and will take over from Thomas Bach in late June.
• She was previously an evaluation committee member for the Paris 2024 Olympics and will serve the same role for the 2028 Los Angeles Games.
• As Chair of the Coordination Commission, she will oversee the planning and delivery of the Brisbane 2032 Olympic Games.
• She trained in Australia for two decades during her competitive equestrian career, which included gold and silver medals at the 2002 Asian Games.

CURRENT AFFAIRS : DEFENCE NEWS

INS Kiltan Reaches Singapore for IMDEX Asia 2025 at Changi Exhibition Centre   

• INS Kiltan arrived in Singapore to participate in IMDEX Asia 2025, held at the Changi Exhibition Centre.
• The visit is part of the Indian Navy’s operational deployment and highlights the strong maritime partnership between India and Singapore.
• The crew of INS Kiltan will take part in bilateral and multilateral activities, including professional exchanges with the Republic of Singapore Navy and other navies.
• Activities include guided tours for school children, cross-deck visits with other navies, and curated visits for defence industries to promote maritime security and India’s naval heritage.

About Ministry of Defence:

• Cabinet Minister: Rajnath Sing
• Minister of State (MoS): Ajay Bhatt

22 Maoists Killed in Ongoing Anti-Maoist Operation ‘Mission Sankalp’ in Chhattisgarh   

• 'Mission Sankalp' is an ongoing anti-Maoist operation in Chhattisgarh, specifically in the south-west forest border area of Bijapur district, which borders Telangana.
• The operation is aimed at neutralizing Maoist insurgents and is being conducted with over 15,000 security personnel.

Key Highlights :

• Casualties and Encounters:22 Maoists were killed in an encounter with security forces during the operation.
• The gunbattle took place in the Karregutta hilly terrain, a known Maoist stronghold near the interstate border.
• 26 Maoists have been killed in total under the operation since April 21, including three women Naxalites on April 24 and one woman Maoist on May 5.
• Intelligence and Forces Involved:The operation is based on specific intelligence inputs regarding Maoist presence along the border areas.
• Joint forces involved include the District Reserve Guard (DRG), Special Task Force (STF), CRPF, and the elite CoBRA unit.
• Key Achievements and Discoveries:Weapons, bunkers, hideouts, and Improvised Explosive Devices (IEDs) have been recovered during the operation.
• Casualties Among Security Forces: Six jawans were injured due to pressure IED blasts, but their conditions are said to be stable and out of danger.
• Maoist Killings Across Chhattisgarh:In total, 168 Maoists have been killed in various encounters across Chhattisgarh this year.
• The Bastar division has seen the highest number of Maoist deaths, with 151 killed.
• Maoist Attacks on Civilians:Maoists have been responsible for nine civilian deaths in separate incidents, particularly in the Maoist-affected Bastar region, which includes seven districts.

Starlink Receives Telecom Department’s Approval Letter to Launch Satellite Communication Services in India    

• The Indian government granted approval for Starlink, a satellite internet service by SpaceX, to provide satellite communication services in India.
• The Department of Telecommunications (DoT) issued a Letter of Intent (LoI) to Starlink.
• Starlink uses a constellation of low Earth orbit (LEO) satellites, with around 7,000 satellites currently in orbit, expected to expand to over 40,000.
• This enables high-speed, low-latency broadband internet services globally, including for streaming, gaming, and video calls.
• Starlink agreed to the security terms specified by the Indian government.
• The approval comes alongside the Indian government's heightened security measures for satcom services.

Key Highlights :

• Regulatory Developments:The Indian government issued licences to other satellite players, such as Eutelsat One Web and Jio Satellite Communications.
• These companies can start their services after receiving radio wave frequency allocations.
• Telecom Regulatory Authority of India (TRAI) is finalizing recommendations for allocating satellite communication spectrum on an administrative basis.
• Security Norms for Satellite Communication:The government has implemented stringent security rules for satellite communication providers.
• These include:
• Legal interception of satellite communication services.
• Data localization: Companies must not process user data overseas.
• Indigenization requirement: Service providers must indigenize at least 20% of their ground segment within a few years of starting operations in India.
• Security clearance: Specific gateway and hub locations require security clearances from the DoT.

Iran Unveils Ballistic Missile Capable of Reaching 1,200 Km Amid Ongoing Houthi Strikes

• Iran unveiled a new solid-fuel medium-range ballistic missile (MRBM) called Ghassem Basir.
• The missile is designed to strike targets located over 1,200 kilometers away and can reach speeds of up to Mach 12.
• The missile is approximately 11 meters in length and weighs around 7 tons.
• The missile was revealed following Oman-mediated talks between Tehran and Washington regarding Iran's nuclear program, which took place in April 2024.
• The Ghassem Basir is a solid-fuel missile, a significant development in Iran's missile capabilities.

About Iran :

• President :Masoud Pezeshkian
• Capital :Tehran
• Currency :Iranian Rial

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India’s Gaganyaan Mission Reaches Final Phase, Crewed Launch Scheduled for 2027

• India's first human space mission, Gaganyaan, has entered its final phase, with the first human spaceflight scheduled for the first quarter of 2027.
• Key Objective: The mission will enable India to demonstrate its capability in human space exploration and bolster the nation's standing in the global space community.
• Test Missions:TheTV-D1 mission and the first uncrewed Test Vehicle Abort Mission were successfully completed, laying a solid foundation for upcoming missions.
• The second Test Vehicle mission (TV-D2) is scheduled for later in 2025, followed by uncrewed orbital flights of Gaganyaan.
• Crewed Flight: The crewed mission is expected in 2026, where Indian astronauts will be launched into orbit aboard an Indian rocket, marking a significant milestone for India's space program.
• Global Status: India aims to join an elite group of nations with the capability to independently develop human spaceflight.
• Funding: The total funding for the Gaganyaan Programme has been enhanced to ₹20,193 crore, with an additional net funding of ₹11,170 crore.

National Aeronautics and Space Administration’s IXPE Uncovers X-ray Particles in Black Hole Jets

• The Imaging X-ray Polarimetry Explorer (IXPE) is a joint mission by National Aeronautics and Space Administration (NASA) and the Italian Space Agency (ASI), launched on December 9, 2021.
• IXPE is the first satellite capable of measuring the polarisation of X-ray light, crucial for understanding high-energy astrophysical phenomena.
• Purpose and Focus of the Mission:The mission aimed to solve the long-standing mystery of how X-rays are generated in black hole jets.
• The main subject of study is blazars, a type of active galactic nuclei (AGN) with a supermassive black hole ejecting a relativistic jet of particles directly towards Earth.

Key Findings:

• IXPE's observations showed that the X-rays emitted from BL Lac's jets (a specific blazar) were weakly polarized, with polarization no more than 6%.
• Mission Details:IXPE is the only satellite currently capable of conducting polarization measurements of X-rays.
• The mission involves international collaboration with partners and science collaborators from 12 countries.
• Scientific Impact:IXPE's findings on the polarization of X-rays offer new insights into the mechanisms behind high-energy phenomena in space, specifically in black hole jets.

About NASA:

• Established: 1958
• Headquarters: Washington, D.C., USA

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Vietnam Sign MoU to Promote Peace and Cooperation through Buddhist Teachings

• During the UN Day of Vesak 2025 celebrations in Vietnam, India and Vietnam’s leading Buddhist organizations signed a Memorandum of Understanding (MoU) to deepen collaboration based on the teachings of the Buddha, emphasizing compassion, wisdom, and peace.

Key Highlights:

• Signatories: MoU signed by Ven. ShartseKhensur Rinpoche JangchupChoeden (IBC Secretary General) and Most Ven. Dr Thich Thien Nhon (President, Vietnam Buddhist Sangha – VBS).
• Witnessed by: Union Minister Kiren Rijiju, senior Buddhist leaders, and Indian Ambassador to Vietnam, Shri Sandeep Arya.
• Launch of Vietnam Chapter: The Vietnam Chapter of the International Buddhist Confederation (IBC)will serve as a platform for cultural, spiritual, and educational exchanges.
• Key Initiatives:
  • Facilitate humanitarian and educational exchange programs.
  • Support research, publications, and events on Buddhist teachings.
  • Enable Vietnam’s representation in regional and global Buddhist forums coordinated by IBC.
• Historical Bond: VBS and IBC have been long-standing partners since the inception of IBC; senior VBS members are part of IBC’s governing body.
• Vision: Strengthen brotherhood among Buddhist traditions and practitioners globally and reinforce India–Vietnam spiritual ties.

RECENT NEWS

• Vietnam celebrated the 50th anniversary of the fall of Saigon, which marked the official end of the Vietnam War on April 30, 1975. Known in Vietnam as the “Day of Southern Liberation for National Reunification,” this anniversary is of deep historical significance, symbolizing the triumph of communist North Vietnam over the U.S.-supported South.

CURRENT AFFAIRS: SPORTS NEWS

Rohit Sharma Announces Retirement from Test Cricket

• Rohit Sharma, one of India's most successful openers and red-ball captains, has officially announced his retirement from Test cricket, just before the India vs England Test series.
• This move concludes a distinguished Test career that began in 2013 and reflects the Board of Control for Cricket in India’s (BCCI) shift toward youth leadership for the upcoming 2025–27 World Test Championship (WTC)

Key Highlights:

• Test Debut & Early Impact (2013): Rohit made an instant mark with centuries in his first two Test matches, establishing his potential as a reliable batter.
• Mid-Career Struggles: Faced inconsistency in form and frequent injuries, which led to limited appearances in the middle order during the early years.
• Reinvention as an Opener (Post-2019): A turning point came in 2019 when he was promoted to the opening slot, leading to consistent run-scoring, especially in home conditions.
• Captaincy Phase (2022–2025): Took over leadership after Virat Kohli stepped down; provided stability but struggled in away series against top teams like Australia and New Zealand.
• Retirement Factors: At 38, with a dip in recent Test performances, BCCI opted for fresh leadership. The move follows his T20I retirement, aligning with a broader transition away from international cricket.

CURRENT AFFAIRS: IMPORTANT DAYS

Victory Day 2025 - May 9 

• Victory Day is celebrated every year on May 9.
• Victory Day is celebrated as one of the biggest holidays in Russia commemorating the history of the surrender of Nazi Germany during the second world war in 1945.

History

• Victory Day is celebrated as one of the grand celebrations in Russia as this day commemorates the holiday.
• This day was first inaugurated in the 15 republics of the Soviet Union and then followed by the German Instrument of Surrender.
• After the signing ceremony in Berlin, the Soviet government announced the victory day as a holiday.
• The Russian government officially announced May 9 as a holiday in 1991.
• Some of the countries in Western Europe mark 8th May as Victory Day.

Daily CA One- Liner: May 9

• The Centre for Development of Telematics (C-DOT) and CSIR-National Physical Laboratory (CSIR-NPL) have signed an MoU to establish a long-term framework for joint R&D, standardization, and innovation in next-generation classical and quantum communication technologies
• Union Minister Shri G. Kishan Reddy inaugurated the National Non-Ferrous Metal Scrap Recycling Portal, under the National Scrap Recycling Framework.
• India has commenced issuing chip-based e-passports, embedding RFID chips with citizens’ biometric data to deliver tamper-proof, internationally compliant travel documents
• To honor the 300th birth anniversary of Ahilyabai Holkar, the Maharashtra government has launched the Adishakti Abhiyan, a Rs 10.50 crore campaign aimed at strengthening delivery of women’s and children’s welfare schemes
• Kerala has introduced the ‘Jyothi’ scheme to enrol children of migrant workers in public schools and anganwadis, ensuring educational continuity, healthcare access, and social inclusion despite frequent relocations
• At the Russian Embassy in New Delhi, a memorial plaque was unveiled commemorating Biju Patnaik’s daring supply missions to the Red Army during the Battle of Stalingrad
• During the UN Day of Vesak 2025 celebrations in Vietnam, India and Vietnam’s leading Buddhist organizations signed a Memorandum of Understanding (MoU) to deepen collaboration based on the teachings of the Buddha, emphasizing compassion, wisdom, and peace.
• Rohit Sharma, one of India's most successful openers and red-ball captains, has officially announced his retirement from Test cricket, just before the India vs England Test series.
• The Finance Ministry has released the draft ‘Framework of India’s Climate Finance Taxonomy’ to direct investment towards clean energy projects and infrastructure that can withstand climate change-related weather threats.
• The Reserve Bank of India (RBI) has officially recognised the Fixed Income Money Market and Derivatives Association of India (FIMMDA) as a Self-Regulatory Organisation (SRO) for the financial market.
• The Reserve Bank of India (RBI) has introduced the “Framework for Formulation of Regulations” to standardize the regulatory formulation and public feedback process.
• According to the latest World Economic Outlook released by the International Monetary Fund (IMF), India is set to become the world's fourth-largest economy in 2025, surpassing Japan.
• According to the latest data from the Reserve Bank of India (RBI), Unified Payments Interface (UPI) QR codes recorded the fastest growth in digital payments infrastructure in the financial year 2024-25, with a 91.5 per cent jump over the previous year, reaching 657.9 million.
• Markets regulator Securities and Exchange Board of India (SEBI) mandates a minimum ticket size of ₹1 crore for securitised debt instruments (SDIs) for both RBI-regulated and unregulated originators involved in securitisation activities.
• Mikee Cojuangco-Jaworski has been appointed as the Chair of the International Olympic Committee (IOC) Coordination Commission for the 2032 Olympic Games in Brisbane, Australia.
• INS Kiltan arrived in Singapore to participate in IMDEX Asia 2025, held at the Changi Exhibition Centre.
• 'Mission Sankalp' is an ongoing anti-Maoist operation in Chhattisgarh, specifically in the south-west forest border area of Bijapur district, which borders Telangana.
• The Indian government granted approval for Starlink, a satellite internet service by SpaceX, to provide satellite communication services in India.
• Iran unveiled a new solid-fuel medium-range ballistic missile (MRBM) called Ghassem Basir.
• India's first human space mission, Gaganyaan, has entered its final phase, with the first human spaceflight scheduled for the first quarter of 2027.
• The Imaging X-ray Polarimetry Explorer (IXPE) is a joint mission by National Aeronautics and Space Administration (NASA) and the Italian Space Agency (ASI), launched on December 9, 2021.
• Victory Day is celebrated every year on May 9.