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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Qatar National Bank Becomes First Middle East and Africa Bank to Open Branch in India’s GIFT City, Gujarat

• QNB (Qatar National Bank), the largest financial institution in the Middle East and Africa (MEA), has become the first bank from the region to open a branch in India’s GIFT City, Gujarat’s premier international financial hub and special economic zone.
• The bank’s GIFT City branch plans to support Indian corporates seeking global banking partners to drive their expansion.
• QNB's international network spans 28 markets across three continents.

About QNB Group :

• Founded : June 6, 1964
• Headquarters :Doha, Qatar
• Group CEO : Abdullah Mubarak Al Khalifa
• QNB India first entered India in 2017 and has since rapidly expanded to serve the international banking needs of Indian corporates and institutions.
• QNB India operates as a Scheduled Commercial Bank, offering full-fledged banking services nationwide, with a focus on structured trade credit solutions.

PayU Receives Final Reserve Bank of India Approval to Function as Online Payment Aggregator

• PayU, backed by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
• PayU had previously received an in-principle approval from the RBI in April 2024, enabling it to begin onboarding merchants onto its platform.
• The fintech firm joins a list of over 50 online payment aggregators, including Cashfree Payments, Razorpay, CCAvenue, and BillDesk.
• The Payment and Settlement Systems Act, 2007 regulates this approval, allowing PayU to operate within India's payments ecosystem.
• PayU's approval comes after it was asked by the RBI to reapply for a payment aggregator licence in January 2023 due to concerns over its corporate structure.
• In August 2023, PayU sold part of its financial technology business to Rapyd for $610 million, excluding operations in India, Turkey, and Southeast Asia.
• In 2025, the RBI has granted final approval to nine companies to operate as online payment aggregators.

What is a Payment Aggregator?

• Online payment aggregators are companies that facilitate online payments by acting as intermediaries between the customer and the merchant
• The RBI introduced Guidelines for Regulating PAs and Payment Gateway in March 2020.

Recent News :

• In March 2025, PayU, the fintech arm of Prosus, has acquired a 43.5% strategic stakein Mindgate Solutions, a real-time payments tech company.
• In March 2025, BRISKPEhas received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for cross-border (PA-CB)

Fitch Upgrades Shriram Finance's Rating Due to Enhanced Business Profile    

• Fitch Ratings upgraded Shriram Finance Limited's (SFL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) from 'BB' to 'BB+' with a stable
• The upgrade reflects the sustained improvement in SFL's standalone profile, particularly in areas like funding diversity, risk management, portfolio quality, and profitability.
• The ratings highlight SFL's steady performance since its merger with Shriram City Union Finance Ltd (SCUF) in 2022.

Key Highlights :

• Established Franchise and Risk Controls: SFL has a time-tested and established franchise in used commercial-vehicle financing, supported by a seasoned management team and established risk controls.
• India’s Growth Potential:India’s medium-term growth potential and large, diversified economy are expected to support non-bank financial institutions (NBFIs), enhancing business prospects and profitability.
• Enhanced Risk Management:Tighter loan management practices and improved risk controls have led to reduced delinquency rates and better asset quality, mitigating credit losses.
• Diversified Funding Strategy: SFL's diversified funding strategy helps in mitigating liquidity risks, strengthening its financial stability.

Dvara Solutions Forms Strategic Alliance with Kissandhan Agri Financial Services   

• Dvara Solutions has formed a strategic partnership with Kissandhan Agri Financial Services Private Limited (Kissandhan), an RBI-regulated Non-Banking Financial Company (NBFC) and a subsidiary of Sohan Lal Commodity Management Limited (SLCM).
• The partnership aims to streamline Kissandhan’s loan lifecycle workflows, improve growth, operational efficiency, and customer experience, while ensuring adherence to regulatory norms.

Key Highlights :

• Kissandhan will adopt Dvara Solutions' Perdix platform, which includes its loan origination system, loan management system, reports, platform services, and co-lending module.
• Perdix is already in use by over 20 institutions, managing assets under management (AUM) of more than ₹15,000 crore.
• The adoption of Perdix will help Kissandhan enhance its ability to offer various loans, including micro loan against property (Micro LAP), group loans, farmers loans, and medium-term loans.
• Kissandhan has disbursed ₹3,263.99 crore in loans to farmers, impacting over 7 lakh farmers and benefiting 37,185 women loan beneficiaries in the Agri and allied sector (as of 30th April 2025).

Retail inflation drops to 6-year low of 3.16% in April amid decline in food prices   

• India’s retail inflation dropped to 3.16% in April 2025, marking the lowest level since July 2019.
• The Consumer Price Index (CPI) for April 2025 registered at 3.16%, down from 3.34% in March 2025.
• CPI-based inflation has stayed below the Reserve Bank of India’s (RBI) medium-term target of 4% for the third consecutive month.

Key Highlights :

• Food Price Decline: The Consumer Food Price Index (CFPI) dropped to 1.78% in April, marking the lowest food inflation since October 2021.
• Impact of Harvest: A robust harvest amid intense heatwaves led to a decrease in food prices, especially in categories like vegetables, pulses, fruits, meat, fish, and cereals.
• Rural vs Urban Inflation:
• Rural inflation decreased to 2.92% from 3.25% in March.
• Urban inflation decreased to 3.36% from 3.43% in March.
• Regional Inflation:
• Kerala recorded the highest inflation at 5.94%.
• Telangana had the lowest inflation at 1.26%.
• Sectoral Inflation:
• Housing inflation in urban areas stood at 3.00%.
• Education services inflation rose to 4.13%.
• Health inflation remained nearly unchanged at 4.25%.
• Transport and communication inflation increased to 3.73%.
• Fuel and light inflation increased to 2.92%.
• RBI’s Inflation Forecast: The RBI’s forecast for FY26 CPI inflation is 4%, assuming a normal monsoon.
• It expects Q1 inflation to dip to 3.6%.
• RBI Monetary Policy:TheRBI cut the repo rate by 25 basis points to 6% and adopted an accommodative policy stance.
• The next RBI MPC meeting is scheduled for June 4–6, 2025.
• WPI Data: The Wholesale Price Index (WPI) inflation data for April 2025 will be released on May 14, 2025.

CURRENT AFFAIRS: NATIONAL NEWS

India Launches Its First 3nm Semiconductor Design Hubs at Noida and Bengaluru

• Union Minister Ashwini Vaishnaw inaugurated India’s inaugural 3nm chip design centres, established by Renesas Electronics India, marking a pivotal advance in the country’s semiconductor journey.
• The facilities, located in Noida and Bengaluru, bolster India’s push for self-reliance and position it on the global stage for cutting-edge chip design under the Aatmanirbhar Bharat

Key Highlights:

• First 3nm Design Centres: Noida and Bengaluru hubs are the first in India to work at the 3nm process node, a leap from previous 5nm and 7nm capabilities.
• Renesas Partnership: Rolled out by Renesas Electronics India, a global leader in embedded semiconductor solutions.
• End-to-End Ecosystem: Complements India’s semiconductor strategy covering design, fabrication, Assembly-Testing-Marking-Packaging (ATMP), and supply chain development.
• Academic & Skill Support: Over 270 institutions have access to EDA software, and a new semiconductor learning kit will train engineers in advanced chip design.
• Global Collaborations: Backed by industry partners like Applied Materials and Lam Research, and part of Indo-Japan cooperation on technology.
• Future Expansion: Renesas plans to extend its Indian footprint from architecture and verification to chip testing, leveraging schemes such as Design Linked Incentive (DLI) and Chips to Startup (C2S).

RECENT NEWS

• Union Minister Ashwini Vaishnaw visited the Hyperloop testing facility at IIT Madras on Saturday, where he announced that the 410-meter-long Hyperloop tube would soon become the world’s longest high-speed tube

India Fixes 23rd September as Ayurveda Day for Global Consistency

• The Indian government has officially designated 23rd September as Ayurveda Day, moving away from its previous celebration linked to Dhanteras.
• This shift aims to provide a consistent date for global observances, enhancing the visibility and recognition of Ayurveda on the international stage.

Key Highlights:

• New Fixed Date: The government’s decision, formalized by the Ministry of Ayush, establishes 23rd September as the annual Ayurveda Day, replacing the fluctuating Dhanteras date.
• Symbolic Significance: The date coincides with the autumnal equinox, symbolizing balance in nature, which aligns with Ayurveda's core principles of holistic health and harmony between mind, body, and spirit.
• Global Outreach: The fixed date is intended to facilitate global participation in Ayurveda-related events and activities, fostering a stronger international presence for India’s traditional medicine.
• Why 23rd September?
  • Symbolizes cosmic equilibrium, echoing Ayurveda’s focus on balance.
  • The autumnal equinox marks a day of equal day and night, symbolizing harmony.
  • Ensures logistical ease for organizing global Ayurveda celebrations.
• Impact:
  • Establishes a stable observance date annually.
  • Enhances global promotion of Ayurveda as a scientific and sustainable healthcare system.
  • Reinforces India’s leadership in promoting traditional wellness systems globally.

India Honored as 'Country Champion' at World Bank Land Conference 2025

• India was recognized as a Country Champion at the 2025 World Bank Land Conference for its groundbreaking work in digital land governance.
• Programs like SVAMITVA and Gram Manchitra have earned international praise for their effectiveness in improving land ownership clarity and empowering rural communities through innovative technology.

Key Highlights:

• SVAMITVA (Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas):
  • Objective: Establish clear ownership of residential property in rural areas.
  • Method: Drone-based land parcel mapping.
  • Achievements:
    • 68,000 sq. km surveyed.
    • ₹1.16 trillion worth of land monetized.
    • Scalable model for land rights formalization and financial inclusion.
• Gram Manchitra Platform:
  • A GIS-based platform for village-level development planning.
  • Supports data-driven, climate-resilient development and helps in integrating schemes at the local level.
  • Particularly beneficial for the Global South, as it adapts to local governance systems.

Broader Impacts:

• Land Ownership: Clear titles help unlock access to credit, boosting entrepreneurship and livelihoods.
• Private Investment: Land as collateral encourages private capital generation.
• Infrastructure: Stable land records enable effective property taxation, which funds public services.
• Urban and Disaster Planning: Improved land records help manage urban growth and mitigate disaster risks.
• Gender and Food Security: Women’s secure land access could increase agricultural productivity by 4%.

Cabinet Approves ₹3,706 Crore HCL-Foxconn Chip Plant in Jewar

• The Union Cabinet has approved a ₹3,706 crore joint venture between HCL and Foxconn to establish a semiconductor assembly and packaging plant in Jewar, Uttar Pradesh.
• This initiative is part of India’s Semiconductor Mission and will play a crucial role in advancing India’s self-reliance in chip manufacturing.
• The plant is set to begin operations in 2027 and aims to meet a significant portion of India’s local semiconductor demand.

Key Details:

• Investment: ₹3,706 crore (₹1,500 crore from government incentives).
• Plant Type: Focused on the assembly and packaging of display driver chips, used in phones, laptops, cars, and PCs.
• Capacity:20,000 wafers/month; 36 million units/month output.
• Location: Near Jewar Airport, Yamuna Expressway Industrial Development Authority, Uttar Pradesh.
• Employment: Expected to create 2,000 direct jobs.
• Production Start:2027.

Objectives & Aims:

• To enhance self-reliance in the semiconductor sector, aligning with the Aatmanirbhar Bharat initiative.
• Reduce dependence on imported chips by producing 40% of India’s local chip demand.
• Foster the growth of electronics manufacturing and infrastructure in Uttar Pradesh.

Significance:

• Strengthens India's Semiconductor Ecosystem: Reduces dependence on foreign chips and boosts local production capabilities.
• Job Creation and Industrial Growth: Supports the Make in India and Digital India goals by generating jobs and developing Uttar Pradesh as a manufacturing hub.
• Strategic Impact: Enhances India’s economic development and bolsters strategic autonomy in critical electronics sectors.

Background:

• The plant is part of the India Semiconductor Mission launched in 2021 with a ₹76,000 crore ($10 billion) budget.
• Foxconn’s Second Attempt: After its previous JV with Vedanta collapsed in 2023, Foxconn now partners with HCL to establish the plant.
• The first Made-in-India chips are expected to roll out later in 2025, reinforcing India’s position in the global semiconductor supply chain.

Centre Allocates 2.8 Million Tonnes MoreFood Corporation of India(FCI) Rice for Ethanol

• To strengthen its clean energy agenda, the Indian government has approved an additional allocation of 2.8 million tonnes of Food Corporation of India (FCI) rice for ethanol production during the 2024–25 ethanol supply year.
• This brings the total rice allocation under the Ethanol Blended Petrol (EBP) scheme to 5.2 million tonnes.
• Union Ministry of Consumer Affairs, Food and Public Distribution approved the allocation of 2.8 million tonnes of FCI rice for ethanol production.
• This move supports India’s strategy to boost ethanol output under the EBP programme and achieve its target of 20% ethanol blending by 2025–26.
• However, the decision has raised concerns about food security, especially during times of inflation and nutritional stress.

Key Highlights:

• Total Rice Allocation for ESY 2024–25: 5.2 million tonnes
• Additional Allocation Approved: 2.8 million tonnes
• Previously Approved Allocation: 2.4 million tonnes
• Issue Price of FCI Rice for Distilleries: ₹22.50 per kg
• Ethanol Conversion Rate from Rice: 470 litres/tonne
• Expected Total Ethanol Output from Allocation: ~2.45 billion litres
• ESY Timeline: December 2024 to October 2025
• Current Lifted Quantity by Distilleries: ~1 million tonnes

Aim and Objectives of the EBP Programme:

• Reduce dependence on imported fossil fuels
• Cut carbon emissions by blending ethanol with petrol
• Promote cleaner energy alternatives
• Provide remunerative prices to farmers through alternative demand for crops

Background & Static Information:

• Ethanol Blended Petrol (EBP) Programme: Launched by the Ministry of Petroleum & Natural Gas, aiming for 20% ethanol blending in petrol by 2025–26.
• First-Generation (1G) Biofuels: Derived from food crops like sugarcane, maize, and rice, leading to competition with food and fodder needs.
• Second-Generation (2G) Biofuels: Produced from non-food biomass such as agricultural waste, crop residues, and industrial waste. These are more sustainable but technologically costlier.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Denmark launches the world’s first commercial-scale e-methanol plant

• The World's first commercial-scale e-methanol plant has begun operations in Denmark.
• The plant is located in Kasso, southern Denmark, with an estimated investment of €150 million (approximately $167 million).
• The plant will produce 42,000 metric tons (53 million liters) of e-methanol per year.

Key Highlights :

• Partnership and Ownership: The plant is jointly owned by European Energy (Denmark) and Mitsui (Japan).
• Maersk's Role: Maersk, a shipping giant, will buy part of the e-methanol for its fleet of container ships, using it as a low-emission fuel.
• Zero-Emission Shipping Fuels: The shipping industry is seeking zero-emission fuels like e-methanol and green ammonia to meet International Maritime Organization's (IMO) targets for eliminating carbon emissions by 2050.
• Fuel Price Parity: The plant expects price parity with fossil methanol around 2035, as production scales up.
• Sustainability and Technology: The e-methanol is produced using renewable energy and CO2 captured from biogas plants and waste incineration.
• Expansion Plans: European Energy plans to expand the Kasso facility and has a pipeline of similar plants in Europe, Australia, Brazil, and the United States.
• Applications Beyond Shipping: In addition to shipping, e-methanol can be used to replace fossil methanol in industries like plastic production.
• Novo Nordisk and Lego are among the companies set to use e-methanol for injection pens and plastic elements, respectively.
• Excess Heat Usage: The excess heat from production will be used to heat 3,300 households in the local area.

About Denmark :

• Prime Minister :Mette Frederiksen
• Capital :Copenhagen
• Currency :Danish krone

CURRENT AFFAIRS: STATE NEWS

Maharashtra Launches Policy to Promote Use of Artificial Sand (M-Sand)

• The Maharashtra government has introduced a new policy mandating the use of manufactured sand (m-sand) in all government and semi-government construction projects.
• Approved by the state cabinet, this move is aimed at curbing illegal river sand mining and promoting sustainable construction practices.

Key Highlights:

• Mandatory Adoption: Use of m-sand is compulsory in all construction projects backed by government and semi-government agencies.
• Crusher Setup Expansion: Permission granted to install 50 crusher machines in each district, totaling 1,500 across the state.
• Land Leasing: State land will be leased on a first-come, first-served basis to set up m-sand production units.
• MSME Recognition: Producers of m-sand will receive MSME status, aiding in business promotion and support.
• Royalty Reduction:M-sand royalty set at ₹200 per brass, much lower than the ₹600 charged for natural sand.
• Transition Period: Existing stone crushers must convert to m-sand production within 3 years, or face license cancellation.
• Environmental Impact:
  • Supports river and coastal ecosystem conservation.
  • Extraction to be limited to rocky terrains, with pits repurposed as water conservation ponds.
  • Aligns with National Green Tribunal (NGT) mandates and state environmental commitments.
• Background Note:
  • The NGT banned coastal sand mining in 2014, with partial relaxation in 2016 after state assurances.
  • M-sand is created by crushing hard rocks (e.g., granite), ensuring consistency and strength in construction materials.

RECENT NEWS

• In a landmark move aimed at securing water resources and promoting inter-State cooperation, Madhya Pradesh and Maharashtra signed an MoU on May 10, 2025, to jointly implement the Tapti Basin Mega Recharge Project.
• In a tribute to one of India’s most revered rulers, the Maharashtra government has announced a biopic on the life of Ahilyabai Holkar, marking the 300th birth anniversary of the legendary queen in 2025.

Inland Waterways Authority of India (IWAI)Opens Srinagar Office to Boost Inland Waterways in Jammu & Kashmir

• In a significant development aimed at enhancing water-based transportation, the Inland Waterways Authority of India (IWAI) has opened a regional office in Srinagar, Jammu & Kashmir.
• This move is part of a strategic initiative to promote sustainable development through inland waterways in the Union Territory, fostering economic activity and eco-tourism.
• IWAI, in collaboration with the Government of Jammu and Kashmir, has taken steps to develop inland navigation infrastructure along three National Waterways—Chenab, Jhelum, and Ravi.
• The new regional office in Srinagar will serve as a hub for coordinating these efforts, aiming to boost river transport and tourism in the region.

Key Objectives & Aims:

• Develop navigation infrastructure along Jammu &Kashmir’s river systems.
• Promote eco-tourism and increase local employment opportunities.
• Improve intra-state and regional water transport connectivity.

Major Highlights:

• MoU Signed: An agreement between IWAI and the J&K government to jointly develop river navigation infrastructure.
• Three National Waterways Identified:
  • NW-26: River Chenab
  • NW-49: River Jhelum
  • NW-84: River Ravi
• Infrastructure Development Plans:
  • Installation of floating jetties at 10 locations.
  • Fairway development through dredging.
  • Night navigation aids for safer transport.
  • Hydrographic surveys for safer navigation.

Background & Context:

• Inland waterways are crucial for reducing logistics costs and promoting green transport options.
• The government has prioritized the development of National Waterways as part of the Aatmanirbhar Bharat initiative, aiming to boost the country’s infrastructure.
• The initiative is integral to integrating Jammu &Kashmir’s river systems into the broader national economic framework.

RECENT NEWS

• In a major step toward enhancing India’s inland water transport (IWT) ecosystem, the Inland Waterways Authority of India (IWAI) signed a Memorandum of Understanding (MoU) with Rhenus Logistics India Pvt. Ltd., a global logistics major.
• The Inland Waterways Authority of India (IWAI) has signed a Memorandum of Understanding (MoU) with the Jammu & Kashmir (J&K) government to develop river cruise tourism in the Union Territory.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Dr Manoj Kumar Jhawar assumes charge as full-time Chairman and Managing Director of PTC India Limited

• Dr Manoj Kumar Jhawar has officially taken over as the Chairman and Managing Director (CMD) of PTC India Limited, effective May 13.
• His appointment was approved by the company’s Board on April 26.
• Dr Jhawar had been holding the additional charge of CMD since June 13, 2024, and will continue until his superannuation at the age of 60.

About Dr Manoj Kumar Jhawar :

• Jhawar has over three decades of experience in the power sector and is a PhD in Management Sciences from Devi Ahilya University, Indore.
• He began his career in 1989 with the Madhya Pradesh State Electricity Board and has held senior leadership roles in Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Ltd.
• He served as Director (Finance) at KIOCL Ltd before joining PTC India.
• He brings significant expertise in policy planning, finance, IT management, regulatory affairs, and smart metering.

About PTC India Limited :

• Founded : 16 April 1999
• Headquarters : New Delhi, India

Indian-origin Anita Anand takes oath as Canada’s new Foreign Minister   

• Anita Anand, 58, has been sworn in as Canada’s new Foreign Minister in a Cabinet reshuffle by Prime Minister Mark Carney.
• Anand took the oath of office with her hand on the Bhagavad Gita, a tradition she follows for cabinet appointments.
• She previously served as Defence Minister from 2021 to 2023.
• Maninder Sidhu, 41, has been appointed as Minister of International Trade.
• Anand’s appointment is significant amid strained Canada-India relations following the 2023 assassination of pro-Khalistani terrorist Hardeep Singh Nijjar.
• Hindu groups in Canada, including Vishwa Hindu Parishad (VHP) Canada and Canada Hindu Advocacy Coalition, are celebrating her appointment, seeing her as an inspiration for the Canadian Hindu community.
• No public reactions from Sikh groups have been reported, possibly due to tensions between Hindu and pro-Khalistani groups and her past stance on Nijjar’s killing.
• Anand won from Oakville East riding in the House of Commons in the recent federal elections and has held several key roles, including Minister of Public Services, Minister of National Defence, and President of the Treasury Board.
• Anita Anand was born in Kentville, Nova Scotia, to Indian immigrant parents from Punjab and Tamil Nadu.
• Canada-India relations have been severely strained since the killing of Hardeep Singh Nijjar in June 2023.
• As per the 2021 census, there are 771,790 Sikh diaspora in Canada, which influences domestic politics.

About Canada :

• Capital :Ottawa
• Currency :Canadian dollar ($)

Vibhor Jain appointed as acting Chief Executive Officer of Open Network for Digital Commerce   

• ONDC (Open Network for Digital Commerce) has appointed Vibhor Jain as the acting Chief Executive Officer (CEO) with immediate effect.
• Prior to this, Vibhor Jain served as the Chief Operating Officer (COO) and was part of the 8-member executive committee.
• All executive powers will now transition to the acting CEO, marking the end of the committee's interim role.
• ONDC is in the process of identifying a new Managing Director and CEO.
• The responsibilities formerly overseen by the executive committee will now be integrated under the purview of the acting CEO.
• ONDC has achieved a major milestone by surpassing 200 million transactions in under three years since its inception.

BillDesk Co-founder M N Srinivasu Named Internet and Mobile Association of India Chairperson for Two-Year Tenure   

• M N Srinivasu, co-founder of BillDesk, was appointed as the chairperson of the Internet and Mobile Association of India (IAMAI) following the governing council elections.
• Srinivasu succeeds Harsh Jain, co-founder and CEO of Dream Sports.
• Harshil Mathur, co-founder and CEO of Razorpay, was elected vice-chairperson.
• Sameer Nigam, founder and CEO of PhonePe, has taken over as the treasurer of IAMAI.
• Previously, Rajesh Magow, co-founder of MakeMyTrip, served as vice-chairperson, and Satyan Gajwani, vice-chairperson of Times Internet, was the treasurer.
• The appointment of the new leadership reflects the growing influence of the emerging fintech sector in India.
• The new 24-member governing council and executive council of IAMAI will serve for the next two years until 2027.

About IAMAI :

• Founded : 2004
• Headquarters : Mumbai, Maharashtra, India
• IAMAI is a not-for-profit industry body with more than 600 members, including Indian and multinational corporations and start-ups.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Life Insurance Corporation Increases Stake in Bank of India to 8.38%

• Life Insurance Corporation (LIC) has increased its stake in Bank of India (BoI) to 8.38% as of May 9, 2025.
• LIC acquired an additional 2.026% stake in BoI between September 2, 2021, and May 9, 2025.
• LIC's total stake rose from 6.35% to 8.38% over the four-year period.
• The information was disclosed by BoI in a stock exchange filing on May 13, 2025.
• Shares of Bank of India closed at ₹112.55, registering a 2.27% increase over the previous close on the BSE (Bombay Stock Exchange).

About LIC :

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Siddharth Mohanty

Competition Commission of India Approves Indorama Netherlands B.V.'s Acquisition of Stake in EPL Limited

• The Competition Commission of India (CCI) has approved the proposed acquisition of shareholding in EPL Limited by Indorama Netherlands B.V.
• The proposed combination involves the purchase of 24.9% equity share capital of EPL Limited by Indorama Netherlands B.V.
• Indorama Netherlands B.V. is a limited liability company based in the Netherlands and is an indirect subsidiary of Indorama Ventures Public Company Limited.
• EPL Limited is engaged in the manufacturing and sale of packaging products, including laminated and extruded plastic tubes.

About CCI:

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

Competition Commission of India Approves AIPCF VIII A-TE Funding L.P.'s ~13% Investment in Perseus Parent L.P.

• The Competition Commission of India (CCI) has approved the proposed combination involving an investment of approximately 13% limited partnership interests by AIPCF VIII A-TE Funding L.P. in Perseus Parent L.P.
• AIPCF VIII A-TE Funding L.P. (the Acquirer) is a newly incorporated special purpose vehicle (SPV) and currently has no investments or business activities of its own.
• The Acquirer is part of the American Industrial Partners (AIP) Group, a private equity group focused on industrial businesses such as transportation and logistics, metals and mining, and aerospace and defence.
• Perseus Parent L.P. (the Target) is involved in the manufacturing, marketing, and distribution of engine components for light vehicles, commercial trucks, and off-highway vehicles.
• The Proposed Combination enables the Acquirer to hold approximately 13% interest in the Target.

CCI Approves Demerger of MDO Business of Thriveni Earthmovers and Share Acquisition in Thriveni Earthmovers and Infra by Lloyds Metals and Energy

• The Competition Commission of India (CCI) has approved a combination involving the demerger of the MDO Business of Thriveni Earthmovers Private Limited (TEMPL) into Thriveni Earthmovers and Infra Private Limited (TEIPL).
• The combination also includes the acquisition of 79.82% shareholding in TEIPL by Lloyds Metals and Energy Limited (LMEL).
• Additionally, TEIPL will acquire majority shareholding in Lloyds Surya Private Limited, a wholly owned subsidiary of LMEL.
• TEMPL, through its Mining Development and Operations (MDO) Business, is involved in mine development and operations for iron ore, coal, baryte, and manganese, offering services like exploration, mine development, processing, transportation, and logistics.
• LMEL, incorporated in 1977, operates in iron ore mining, sponge iron production, captive power generation, and pellet trading.
• TEIPL is a newly incorporated entity with no current business operations in India or abroad.
• Lloyds Surya, based in Maharashtra, began operations recently and had no business activity in FY 2023–24.

CCI Approves Knowledge Realty Trust’s Acquisition of Entities from Blackstone Group and Sattva Group

• The Competition Commission of India (CCI) has approved the acquisition by Knowledge Realty Trust (Acquirer REIT) of certain entities belonging to the Blackstone Group and/or Sattva Group.
• The Proposed Combination involves direct and indirect acquisition of entities that are:
• solely owned by Blackstone Group,
• solely owned by Sattva Group, or
• jointly controlled by both (Target Entities).
• In exchange for the acquisition, units of the Acquirer REIT will be issued to the existing shareholders of the Target Entities.
• Knowledge Realty Trust is a Real Estate Investment Trust (REIT), set up under the Indian Trusts Act, 1882, via trust deed dated 10 October 2024.
• The Acquirer REIT is managed by Knowledge Realty Office Management Services Pvt. Ltd. (formerly Trinity Office Management Services Pvt. Ltd.).
• The REIT was registered with SEBI on 18 October 2024, under the SEBI (REIT) Regulations, 2014.
• The Target Entities operate in commercial real estate and renewable power sectors in India.

CURRENT AFFAIRS : DEFENCE NEWS

United States Approves $142 Billion Arms Deal with Saudi Arabia     

• The United States agreed on May 13, 2025, to sell Saudi Arabia an arms package worth nearly $142 billion.
• According to a White House fact sheet, it is the largest defense cooperation agreement in U.S. history.
• The agreement was signed during U.S. President Donald Trump’s visit to Riyadh, the capital of Saudi Arabia.
• The package involves deals with over a dozen U.S. defense companies in areas including:
• Air and missile defense
• Air force and space advancement
• Maritime security
• Communications
• The fact sheet emphasized that this deal demonstrates the U.S. commitment to strengthening its partnership with Saudi Arabia.
• Saudi Arabia is the largest customer for U.S. arms
• The Biden administration had earlier tried but failed to finalize a defense pact with Riyadh that included normalization of ties with Israel.
• The deal does not mention whether Saudi Arabia will be allowed to purchase Lockheed Martin’s F-35 jets, which the kingdom has shown interest in for years.
• The potential sale of F-35s raises issues concerning Israel’s Qualitative Military Edge (QME) — a U.S. guarantee ensuring Israel gets more advanced U.S. weapons than Arab states.
• Israel has operated F-35 fighter jets for nine years, building multiple squadrons.
• If approved, Saudi Arabia would be the second Middle Eastern country after Israel to operate F-35 fighters, which use stealth technology.

A Decade Later, Google Unveils Redesigned ‘G’ Logo in Classic Colors

• Google’s new ‘G’ logo appears nearly identical to its previous version, but with a subtle change: the four primary colors — red, yellow, green, and blue — now blend into each other in a soft gradient.
• The redesign was first spotted on the iOS app and later in the 8 beta release on Android.
• While not fully rolled out, the new logo has started appearing on Pixel devices and is expected to spread across the broader Google ecosystem in the coming weeks.
• This is not a radical rebrand.
• The Product Sans font remains unchanged since 2015.

Key Highlights :

• The redesign is focused on nuance and harmony, signaling evolution rather than a complete reinvention.
• The change reflects the maturing of Google’s ecosystem, integrating AI more deeply, especially with Gemini, Google’s generative AI assistant, at the center of the brand's future.
• The Gemini logo also uses gradients, specifically a blue-to-purple flow, aligning with the new ‘G’
• The return of gradients, once avoided during the "flat-design" era of the 2010s, signifies function meeting nostalgia for Google.
• The importance of visual identity updates in maintaining brand resonance, especially for Gen Z who differentiate between authentic and outdated
• The visual refresh shows that Google’s brand is evolving and adapting, although the logo change is unlikely to be the main reason people download the app.

About Google :

• Founded : September 4, 1998
• Headquarters :California, United States
• CEO :Sundar Pichai

Daily CA One- Liner: May 15

• India has renewed its commitment to regional economic stability by rolling over a $50 million treasury bill held with the Maldives for one more year.
• Union Minister Ashwini Vaishnaw inaugurated India’s inaugural 3nm chip design centres, established by Renesas Electronics India, marking a pivotal advance in the country’s semiconductor journey.
• The Indian government has officially designated 23rd September as Ayurveda Day, moving away from its previous celebration linked to Dhanteras.
• India was recognized as a Country Champion at the 2025 World Bank Land Conference for its groundbreaking work in digital land governance.
• The Union Cabinet has approved a ₹3,706 crore joint venture between HCL and Foxconn to establish a semiconductor assembly and packaging plant in Jewar, Uttar Pradesh.
• To strengthen its clean energy agenda, the Indian government has approved an additional allocation of 2.8 million tonnes of Food Corporation of India (FCI) rice for ethanol production during the 2024–25 ethanol supply year.
• The Maharashtra government has introduced a new policy mandating the use of manufactured sand (m-sand) in all government and semi-government construction projects.
• In a significant development aimed at enhancing water-based transportation, the Inland Waterways Authority of India (IWAI) has opened a regional office in Srinagar, Jammu & Kashmir.
• QNB (Qatar National Bank), the largest financial institution in the Middle East and Africa (MEA), has become the first bank from the region to open a branch in India’s GIFT City, Gujarat’s premier international financial hub and special economic zone.
• PayU, backed by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
• Fitch Ratings upgraded Shriram Finance Limited's (SFL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) from 'BB' to 'BB+' with a stable
• Dvara Solutions has formed a strategic partnership with Kissandhan Agri Financial Services Private Limited (Kissandhan), an RBI-regulated Non-Banking Financial Company (NBFC) and a subsidiary of Sohan Lal Commodity Management Limited (SLCM).
• India’s retail inflation dropped to 3.16% in April 2025, marking the lowest level since July 2019.
• The World's first commercial-scale e-methanol plant has begun operations in Denmark.
• Dr Manoj Kumar Jhawar has officially taken over as the Chairman and Managing Director (CMD) of PTC India Limited, effective May 13.
• Anita Anand, 58, has been sworn in as Canada’s new Foreign Minister in a Cabinet reshuffle by Prime Minister Mark Carney.
• ONDC (Open Network for Digital Commerce) has appointed Vibhor Jain as the acting Chief Executive Officer (CEO) with immediate effect.
• M N Srinivasu, co-founder of BillDesk, was appointed as the chairperson of the Internet and Mobile Association of India (IAMAI) following the governing council elections.
• Life Insurance Corporation (LIC) has increased its stake in Bank of India (BoI) to 8.38% as of May 9, 2025.
• The Competition Commission of India (CCI) has approved the proposed acquisition of shareholding in EPL Limited by Indorama Netherlands B.V.
• The Competition Commission of India (CCI) has approved the proposed combination involving an investment of approximately 13% limited partnership interests by AIPCF VIII A-TE Funding L.P. in Perseus Parent L.P.
• The Competition Commission of India (CCI) has approved a combination involving the demerger of the MDO Business of Thriveni Earthmovers Private Limited (TEMPL) into Thriveni Earthmovers and Infra Private Limited (TEIPL).
• The Competition Commission of India (CCI) has approved the acquisition by Knowledge Realty Trust (Acquirer REIT) of certain entities belonging to the Blackstone Group and/or Sattva Group.
• The United States agreed on May 13, 2025, to sell Saudi Arabia an arms package worth nearly $142 billion.
• Google’s new ‘G’ logo appears nearly identical to its previous version, but with a subtle change: the four primary colors — red, yellow, green, and blue — now blend into each other in a soft gradient.