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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India to Give In-Principle Approval to Emirates NBD Bank PJSC   

• The Reserve Bank of India (RBI) has granted “in-principle” approval to Emirates NBD Bank PJSC to set up a Wholly Owned Subsidiary (WOS) in India.
• This is under the “Scheme for Setting up of WOS by foreign banks in India”.
• Emirates NBD Bank currently operates in India through branches in Chennai, Gurugram, and Mumbai.
• The in-principle approval allows the bank to convert its existing branches into a WOS

Key Highlights :

• RBI will consider granting a full banking licence under Section 22(1) of the Banking Regulation Act, 1949, after the bank fulfills all RBI’s conditions as part of this approval.
• Emirates NBD is among the few foreign banks to get regulatory clearance via the WOS route. Other banks with WOS in India include DBS Bank India and SBM India.
• Foreign banks operating through the WOS framework are treated on par with domestic banks for branch expansion and are exempt from certain regulatory approvals, subject to specific conditions.
• Emirates NBD inaugurated its first full-fledged Indian branch in Mumbai in 2017.
• India is the sixth country where Emirates NBD has an onshore presence, after the UAE, Saudi Arabia, Egypt, Singapore, and the UK.

SBM Bank India and ICICI Prudential Life Enter Bancassurance Partnership     

• SBM Bank India and ICICI Prudential Life Insurance Company have entered into a bancassurance partnership.

What Is Bancassurance?

• Bancassurance is an arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank's client base.
• This partnership arrangement can be profitable for both companies.

Key Highlights :

• The partnership aims to offer a wide range of life insurance products to SBM Bank India’s customers.
• Products offered will include:
• Term insurance
• Long-term savings
• Wealth creation products
• Retirement income planning solutions
• SBM Bank India operates 22 branches across India, including a recently opened branch in Tivri, Naigaon, Maharashtra.

Recent News :

• In March 2025, ICICI Prudential Life Insurance introduced‘ICICI Pru GIFT Select’, a long-term savings product that offers guaranteed immediate income for liquidity.

About SBM Bank India :

• Founded : 1st December 2018
• Headquarters : Mumbai, Maharashtra, India
• MD &CEO : Ashish Vijayakar
• SBM Bank India is a subsidiary of the State Bank of Mauritius.
• It was the first bank to receive a banking license from the Reserve Bank of India (RBI) to establish a universal banking business in India.

About ICICI Prudential Life Insurance Company Limited :

• Founded : 2000
• Headquarters : Mumbai, Maharashtra, India
• MD &CEO : Anup Bagchi

Securities and Exchange Board of India Strengthens Governance by Tightening and Standardising Internal Audit Norms for Market Infrastructure Institutions (MIIs)     

• The Securities and Exchange Board of India (SEBI) has tightened and standardised the internal audit mechanism norms for Market Infrastructure Institutions (MIIs) to strengthen governance.
• Managing Directors (MDs) are barred from being part of audit committees.

What are Market Infrastructure Institutions?

• Market Infrastructure Institutions (MIIs) are organizations that provide the essential facilities for trading, clearing, and settling financial instruments like stocks, bonds, and derivatives.
• They are the backbone of a robust and well-regulated financial market.

Key Highlights :

• Key Managerial Personnel (KMPs) may be invited to audit committee meetings with approval of the committee’s chairman but without voting rights.
• Auditors and KMPs have the right to be heard in audit committee meetings when the auditor’s report is discussed but do not have voting rights.
• The new norms will be effective after three months from the circular.
• The internal auditor must cover all functions and activities of MIIs, including critical verticals like operations, regulatory, compliance, risk management, investor grievances, and business development.
• MIIs may standardise terms of reference for internal auditors in consultation with the industry standards forum of MIIs.
• The internal auditor must report only to the audit committee.
• Internal auditor’s observations must be sent to respective heads of departments for comments to be included in the final report.
• The audit committee will set the internal audit timelines.
• The internal auditor must appraise the audit committee at least twice a year, within 60 days after September and March, on critical issues of the MII in the absence of management.
• SEBI inspections revealed substantial audit observations were not captured earlier, highlighting the need for strengthening the internal audit mechanism.

Recent News :

• In March 2025, The Securities and Exchange Board of India (SEBI) has reduced the minimum investment amount for Zero Coupon Zero Principal (ZCZP)instruments on the Social Stock Exchange (SSE) from ₹10,000 to ₹1,000.

About SEBI :

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

State Bank of India Reduces Interest Rates on Domestic Term Deposits by 20 Basis Points Across All Tenures     

• State Bank of India (SBI), the country’s largest lender, has cut interest rates on retail domestic term deposits by 20 basis points (bps)across all tenors, effective 16 May 2025.
• The move reflects improved liquidity conditions in the financial system.
• Revised deposit rates (for general public):
• 211 days to < 1 year: 6.30% (earlier 6.5%)
• 1 year to < 2 years: 6.5%
• 2 years to < 3 years: 6.7% (highest return)
• 3 years to < 5 years: 6.55%
• 5 years to 10 years: 6.30%
• This is the second consecutive deposit rate cut by SBI.
• In April 2025, SBI had cut rates by 10–25 bps.
• The cuts follow the Reserve Bank of India’s (RBI) policy actions:
• In April 2025, RBI cut the repo rate by 25 bps to 6%, shifting its stance from ‘neutral’ to ‘accommodative’ to support economic growth.
• The rate cuts and competitive deposit environment have impacted banks’ interest margins.

Recent News :

• In March 2025, In a significant move to support women entrepreneurs across India, the State Bank of India (SBI) has launched 'Asmita', a collateral-free digital loan designed exclusively for women-led micro, small, and medium enterprises (MSMEs).

Directorate General of Foreign Trade Issues Import Policy for Newly Introduced ITC (HS) Codes on Precious Metals under Finance Act 2025  

• The Directorate General of Foreign Trade (DGFT) has amended the import policy and policy conditions for specific Indian Trade Classification (Harmonised System) 2022 [ITC (HS) 2022] codes, including those for precious metals, in line with the Finance Act 2025.
• The import policy for ITC(HS) codes under Chapter 71 of ITC (HS) 2022, Schedule (Import Policy), newly created under the Finance Act 2025 (dated March 29, 2025), has been notified with immediate effect.
• This amendment ensures consistency between customs duties and import regulations.

Key Highlights :

• New HS codes introduced for key precious metals items:
• Gold dore
• Silver dore
• Platinum containing at least 99% platinum
• Separate HS codes for gold and silver dore help customs track semi-processed forms of these metals, preventing misuse to bypass higher duties on refined gold and silver.
• The Finance Act 2025 addressed misuse involving platinum alloys:
• Under World Customs Organisation rules, any item with ≥1% platinum is classified as a platinum alloy.
• Some importers exploited this by labeling 99% gold products as platinum alloy to avail lower duties under India-UAE Free Trade Agreement (FTA).
• To block this loophole, a new HS code was introduced for platinum containing 99% or more pure platinum.
• Only imports under this specific platinum category qualify for duty benefits under the India-UAE FTA.
• Imports under other platinum compositions are restricted, effectively closing the route for importing gold disguised as platinum.

About DGFT :

• Founded : 1991
• Headquarters : New Delhi, India
• Director General : Santosh Kumar Sarangi

Reserve Bank of India Proposes Easing Investment Norms for Banks and NBFCs in Alternative Investment Funds (AIFs)   

• The Reserve Bank of India (RBI) has proposed revised guidelines to ease investment norms for regulated entities (REs) like banks and Non Banking Finance Companies (NBFCs) in Alternative Investment Funds (AIFs).
• AIFs are privately pooled investment vehicles that invest in assets outside traditional categories like stocks and bonds.

Key Highlights :

• Under the new proposal:
• Total investment by all REs in any AIF scheme is capped at 15% of the scheme's corpus.
• Individual RE investment is capped at 10% of the corpus.
• Investments up to 5% by an RE in an AIF scheme are allowed without restriction.
• If an RE invests more than 5%, and the AIF has downstream debt investment in a debtor company of the RE, then the RE must make 100% provisioning for its proportionate exposure.
• In December 2023, RBI had barred investments in AIFs that were investing in existing/recent borrowers due to loan evergreening concerns and regulatory circumvention.
• In March 2024, RBI eased provisioning norms, and now further relaxation has been proposed after SEBI issued due diligence guidelines for AIFs.
• Certain AIFs set up for strategic purposes may be exempted from these norms by RBI in consultation with the government.
• The revised norms will apply prospectively, and existing investments will follow the current rules.
• RBI has invited stakeholder comments on the draft guidelines by June 8, 2025.
• The move aims to support rupee capital formation and recognizes the important role of banks and NBFCs as institutional investors in the AIF industry.

Why AIF?

• An Alternative Investment Fund (AIF) is a privately pooled investment vehicle that collects funds from investors and invests them in asset classes beyond the typical categories of stocks, bonds, and cash.
• These investments often include private equity, venture capital, hedge funds, real estate, and other non-traditional assets.

US 30-Year Treasury Yield Climbs to Highest Level Since 2023 Following Moody’s Downgrade  

• 30-year Treasury bond yield reached its highest level this year at 5.02%, rising by 13 basis points (bps), the biggest one-day increase in over six months.
• The US lost its remaining AAA-credit rating from Moody’s Investors Service, which downgraded it by one notch from Aaa to Aa1 (note: the passage states "Aaa from Aaa," likely a typo, Moody’s downgrade means loss of top AAA rating).
• Moody’s downgrade cited large fiscal deficits and growing interest costs as main reasons.
• Previously, Fitch and S&P Global had downgraded the US years ago.
• The downgrade triggered a negative market reaction:
• Treasury yields rose
• The US dollar and stock indexes fell
• Investor confidence weakened
• US President Donald Trump’s tax-cut bill, approved by a key congressional committee, threatens to add $3 trillion to national debt over the next decade, increasing fiscal concerns.
• The US national debt stands at $36.2 trillion.
• The 10-year Treasury yield rose by about 11 bps to 4.55%.
• The 2-year Treasury notes remained broadly muted (little change).
• The cost of insuring against US sovereign default (via five-year credit-default swaps) increased slightly from 54 bps to 55 bps, indicating rising default risk concerns.

CURRENT AFFAIRS: NATIONAL NEWS

GeM Marks 8th Anniversary with Focus on Inclusive and Transparent Procurement

• The Government e-Marketplace (GeM), India’s digital public procurement portal, celebrated its 8th Incorporation Day on May 19, 2025.
• Launched in 2016, GeM has played a pivotal role in transforming government procurement by making it more inclusive, transparent, and efficient.

Key Highlights:

• Empowerment of Enterprises and Artisans: Over 10 lakh Micro and Small Enterprises (MSEs) have been onboarded, along with 1.84 lakh women entrepreneurs and 1.3 lakh artisans and weavers, reflecting GeM’s inclusive procurement approach.
• Support for Startups: The platform hosts 31,000 startups, encouraging innovation and broader participation in public procurement.
• Cost-Effective Transactions:GeM has achieved 97% transactions without any charges and has significantly reduced transaction fees for high-value orders from ₹72.5 lakh to ₹3 lakh.
• Ease for Small Sellers: For sellers with an annual turnover below ₹1 crore, caution money requirement has been reduced by 60%, lowering entry barriers.
• Major Government Procurements: The platform facilitated key procurements including:
• ₹5,000 crore for Akash Missile System equipment
• ₹5,085 crore for vaccine procurement
• Procurement of CT scanners, drone services, and chartered flight leasing
• Introduction of GeMAI – AI Chatbot:GeM launched GeMAI, India’s first Generative AI-powered chatbot for public sector services. It supports voice and text in 10 Indian languages, improving accessibility and user experience.
• Adoption Across India:GeM is now adopted by all 36 States/UTs, with mandatory usage in 8 states including Gujarat, Maharashtra, and Assam. It has also been integrated with IFMS in states like Delhi, Kerala, and West Bengal.
• Recognitions and Savings: GeM has received recognition from the World Bank and has been featured in India’s Economic Survey. It has led to an average of 10% cost savings in government procurement.

India Recognised by WHO for Eliminating Trachoma as a Public Health Problem

• India achieved a major public health milestone by receiving the WHO Certificate of Elimination of Trachoma as a public health problem during the 78th World Health Assembly (WHA) held in Geneva.
• This recognition highlights India’s success in tackling one of the leading causes of preventable blindness through sustained healthcare interventions and community-level action.

Key Highlights:

• Trachoma Overview: A neglected tropical disease (NTD) caused by Chlamydia trachomatis, trachoma spreads through contact with infected eye/nasal secretions or flies and is a major cause of infectious blindness, especially in areas with poor hygiene.
• Official Recognition by WHO: The certificate was presented by WHO Director-General Dr. Tedros Adhanom Ghebreyesus, acknowledging India’s elimination efforts led by the Ministry of Health and Family Welfare (MoHFW).
• Indian Delegation: The country’s delegation to WHA was headed by Punya Salila Srivastava, Secretary, MoHFW.

India’s Elimination Strategy:

• Mass drug administration campaigns in endemic regions
• Implementation of the SAFE strategy (Surgery, Antibiotics, Facial cleanliness, Environmental improvement)
• Strong inter-ministerial coordination
• Extensive community hygiene and awareness programs in vulnerable populations

78th World Health Assembly:

• Held from May 19 to 27, 2025 in Geneva, Switzerland
• Theme:“One World for Health”
• Included key sessions on pandemic agreements, public health awards (May 23), and sustainable health financing (May 21)
• Teodoro Javier Herbosa from the Philippines was elected as President of the WHA

RECENT NEWS

• Tamil Nadu Chief Minister M.K. Stalin announced that the state will soon officially declare May 5 as Traders Day, addressing a long-standing demand of the business community.
• Tamil Nadu has achieved the highest real economic growth rate in India for the year 2024-25. The state grew at a rate of 9.69%, which is the best in the country and also the highest for Tamil Nadu in the past 10 years.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Kingdom and European Union Agree on Post-Brexit Deal to Strengthen Trade and Security Cooperation  

• Britain (United Kingdom) and the European Union (EU) have agreed on a new deal to restore closer ties post-Brexit, focusing on trade and security.
• The deal reflects concerns about the US pulling back from European security and imposing new trade tariffs.
• The agreement supports British Prime Minister Keir Starmer’s goal to “reset” relations with the EU, nearly nine years after Brexit.

Key Highlights :

• Key benefits for UK citizens and businesses include:
• UK travellers can use electronic passport gates in EU countries.
• Simplified pet travel between the UK and EU.
• British meat products are allowed again in the EU.
• Some checks on animal and plant products at borders will be removed.
• The deal was announced at Lancaster House in London, with Starmer, Ursula von der Leyen (European Commission President), and António Costa (European Council President) present.
• A sensitive compromise on fishing rights allows EU fishing boats access to UK waters until June 30, 2038 — longer than UK initially proposed but less than EU hoped for.
• The deal faced criticism from pro-Brexit media, calling it a “surrender.”
• Britain agreed to follow some EU food standards for export benefits.
• A new “youth experience” programme replaces the previous “youth mobility” plan to allow young people from the UK and EU to live and work in each other’s regions, but with limits on numbers and duration.
• The EU and UK are still negotiating details of the youth experience scheme and university fees for EU students.
• The deal also boosts security cooperation, prompted by the war in Ukraine and US foreign policy shifts under President Trump’s “America First”
• The UK and EU want to reduce reliance on the US and may cooperate on the EU’s €150 billion joint defence procurement fund.

Brexit background:

• The UK voted to leave the EU in the 2016 referendum.
• Officially left on January 31, 2020, with an 11-month transition
• Final post-Brexit trade deal signed in December 2020.
• Overall, as Europe seeks more self-reliance in defence, the UK prefers partnering with the EU rather than acting alone.

About UK :

• Prime Minister :Keir Starmer
• Capital :London
• Currency :Pound sterling

About EU :

• President of the European Commission : Ursula von der Leyen
• Capital :Brussels
• Currency : Euro

CURRENT AFFAIRS: STATE NEWS

Tamil Nadu Transfers ₹50 Crore Endangered Species Conservation Fund to AIWC

• The Tamil Nadu Forest Department has reassigned management of its ₹50 crore Endangered Species Conservation Fund to the Advanced Institute of Wildlife Conservation (AIWC), Vandalur.
• This change was prompted by the State Forest Development Agency (SFDA) being found non-functional.

Background and Objectives

• Announced in 2024 with a corpus of ₹50 crore.
• Initially managed by SFDA; temporarily held by Tamil Nadu Power Finance Corporation or Tamil Nadu Transport Development Finance Corporation.
• Aimed to survey, map, assess endangered species and build research – conservation partnerships.

Problem Identified

• SFDA was defunct and unable to disburse funds or implement conservation projects.
• Plans to create a new trust or society were shelved due to an estimated six-month delay.

Revised Management

• AIWC, Vandalur, now oversees the fund.
• AIWC is a newly registered society known for wildlife research and conservation work.

Key Conservation Targets

• Salim Ali’s Fruit Bat
• Malabar Civet
• White-rumped Vulture
• Nilgiris Wart Frog
• White-spotted Bush Frog
• Anamalai Flying Frog

Tripura Launches Viksit Krishi Sankalp Abhiyan to Empower Farmers

• The Tripura government has launched the Viksit Krishi Sankalp Abhiyan from May 29 to June 12, 2025, as part of a central initiative led by the Union Ministry of Agriculture.
• The campaign focuses on improving agricultural productivity and farmer welfare by promoting awareness of government schemes and modern farming practices.

Key Highlights:

Objective:

• To increase agricultural productivity and output
• To reduce input costs and improve farmer incomes
• To spread awareness of state and centrally sponsored schemes
• To promote scientific agricultural techniques and innovations

Coverage and Duration:

• Campaign period: May 29 – June 12, 2025
• Implementation across all villages and gram panchayats in Tripura

Implementing Bodies:

• State Agriculture Department
• Indian Council of Agricultural Research (ICAR)
• Krishi Vigyan Kendras (KVKs)

Structure:

• One state coordinator, multiple district coordinators
• Involvement of agricultural scientists and local officials

Background and Scope:

• Announced by Union Agriculture Minister Shivraj Singh Chouhan
• Part of the Viksit Bharat @2047 vision
• Covers 723 districts nationwide

RECENT NEWS

• Union Minister Shri Rajiv Ranjan Singh (Lalan Singh) laid the foundation stone for an Integrated Aquapark in Kailashahar, Tripura, under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). Valued at ₹42.4 crores, this initiative aims to bolster Tripura’s fisheries sector through modern technology, integrated farming, and innovation.
• In a landmark development on January 28, 2025, Tripura became the first northeastern state to sign a Memorandum of Understanding (MoU) with the Digital India Bhashini Division (DIBD) of the Ministry of Electronics and Information Technology (MeitY).

Tamil Nadu Tops Central Fund Allocation for MGNREGS in FY26; Followed by Uttar Pradesh & Bihar

• Tamil Nadu has emerged as the largest recipient of funds from the Central government under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the current fiscal year (FY26), followed by Uttar Pradesh and Bihar (which is poll-bound).

Key Highlights:

• Fund Allocation (FY26 so far):
  • Tamil Nadu: ₹2,900+ crore
  • Uttar Pradesh: ₹2,100+ crore
  • Bihar: ₹2,000 crore approx.
• Top 10 Recipients: Include Karnataka, despite being governed by the opposition.
• These allocations come amid political debates and allegations by opposition-ruled states over the distribution of funds in Centrally Sponsored Schemes (CSS), including MGNREGS.

Expenditure Share Based on FY24 Data:

• Tamil Nadu: ~38% of total allocation
• Uttar Pradesh: ~22%
• Bihar: ~30%

Scheme & Funding Details:

• MGNREGS is a demand-driven scheme; funds are released continuously based on demand.
• The Ministry of Rural Development requests additional funds from the Ministry of Finance as needed.
• The Budget Estimate (BE) for FY26 remains ₹86,000 crore, same as FY24-25 RE and FY23-24 RE.
• Parliamentary Committee has raised concerns about the adequacy of this budget, given the scheme’s role as a legal right to work for vulnerable rural populations.

Parliamentary Committee Recommendations:

• Fresh assessment of funding needs, considering MGNREGS is demand-driven and requires flexible budget increases at RE stage.
• Urged Department of Rural Development to realistically estimate demand and push for increased funds from the Ministry of Finance.

Issues in Implementation:

• Around 50.31 lakh job cards were deleted in 2021-22 due to minor errors (spelling or Aadhaar mismatches), denying many workers their right to employment.
• Despite efforts, deletion issues persist, impacting eligible workers.

Government Response:

• Issued Standard Operating Procedures (SoPs) to all States/UTs for job card deletion and restoration.
• SoPs include:
  • Draft publication of job cards marked for deletion
  • Verification through Gram Sabha meetings
  • Right to appeal for affected workers

Kerala CM Pinarayi Vijayan Launches ₹200 Crore ‘CIAL 2.0’ IT Infrastructure Project at Cochin International Airport

• Kerala Chief Minister Pinarayi Vijayan inaugurated the ambitious ₹200 crore CIAL 2.0 project aimed at fully digitising operations at Cochin International Airport (CIAL), focusing on artificial intelligence, automation, and enhanced cybersecurity.

Key Highlights:

• Project Objective:
  To modernize and digitize airport operations to improve efficiency, security, and passenger experience.
• Significance:
  • CIAL handles around 50,000 passengers daily, with nearly 100,000 people visiting for travel-related activities, emphasizing the critical need for securing digital assets.
  • The project reflects a model of socialising profit rather than privatisation.
• Technological Upgrades under CIAL 2.0:
  • Introduction of AI-enabled surveillance cameras (4,000 units) for enhanced security.
  • Implementation of full-body scanners to replace physical pat-downs during security checks.
  • Automated tray retrieval system to accelerate cabin baggage screening.
  • Upgrades to the airport’s bomb detection and disposal systems.
• India’s Aviation Growth Context:
  • In 2023-24, India recorded 375 million air travellers, with 275 million domestic passengers (21% growth over previous year).
  • India ranks 3rd worldwide in domestic air passenger numbers.
  • Forecast projects 1 billion air travellers annually by 2040, necessitating airport preparedness nationwide.
• Other Development Projects at CIAL:
  • ₹700 crore International Terminal development nearing completion, including apron construction.
  • Commercial zone in front of Terminal 3 is progressing steadily.
  • These projects have generated approximately 29,000 jobs.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

HCL Technologies Names Kiran Cherukuri as Global GCC Practice Leader  

• HCL Technologies (HCLTech) has appointed Kiran Cherukuri as the Global GCC Practice Leader.
• In this role, he will be responsible for scaling HCLTech’s Global Capability Center (GCC) practice.
• His focus will be on delivering specialized offerings that utilize HCLTech's services, technology portfolio, and corporate function capabilities.
• GCCs (Global Capability Centers) are key strategic units for global organizations to drive business operations, innovation, and digital transformation.
• HCLTech has already partnered with over 200 GCCs in India, highlighting its strong presence in this domain.

About HCL Technologies :

• Founded : 11 August 1976
• Headquarters : Noida, Uttar Pradesh, India
• Chairperson :Roshni Nadar Malhotra
• MD &CEO :C Vijayakumar

LIC Nominee Director, Raj Kumar Steps Down from IDBI Bank Board  

• Raj Kumar, the LIC Nominee Director, has ceased to hold his position on the Board of IDBI Bank with effect from May 18, 2025.
• His departure is due to the completion of his term as per the official statement by IDBI Bank in a regulatory filing.
• LIC (Life Insurance Corporation) and the Government of India are the major promoters of IDBI Bank, collectively holding 94.71% stake.
• Among promoters, LIC holds about 49%, while the government holds 45.48% shares in IDBI Bank.

CURRENT AFFAIRS : DEFENCE NEWS

Operation Olivia: Indian Coast Guard Safeguards Nearly 7 Lakh Olive Ridley Turtles on Odisha Coast

• Operation Olivia is an annual mission by the Indian Coast Guard (ICG) focused on marine conservation, especially protecting Olive Ridley turtles.
• In February 2025, the ICG protected a record 6.98 lakh Olive Ridley turtles nesting at the Rushikulya river mouth, Odisha.
• The operation runs every year from November to May, covering key nesting sites like Gahirmatha Beach and other coastal areas of Odisha.
• Odisha witnesses the arrival of over 8 lakh turtles annually during the nesting season.
• Since its inception, Operation Olivia has conducted over:
• 5,387 surface patrol sorties
• 1,768 aerial surveillance missions
• These efforts have helped reduce threats such as illegal fishing and habitat disruption.
• During recent operations, 366 boats involved in illegal fishing were detained, showing ICG’s active enforcement.
• ICG engages with local fishing communities by promoting Turtle Excluder Devices (TEDs) and collaborates with NGOs via MoUs to support sustainable fishing and conservation education.

About Ministry of Defence:

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

CURRENT AFFAIRS : APPS & PORTALS

Union Home Minister Amit Shah Launches New Overseas Citizen of India Portal in New Delhi    

• Union Home Minister and Minister of Cooperation, Shri Amit Shah, launched the new Overseas Citizen of India (OCI) Portal in New Delhi.
• The launch was attended by senior officials, including the Union Home Secretary and Director of the Intelligence Bureau (IB).
• The new portal aims to provide world-class immigration facilities for OCI cardholders under the leadership of Prime Minister Narendra Modi.
• The revamped OCI portal features an updated user interface to simplify the registration process for Overseas Citizens.
• The portal will serve over 5 million existing OCI cardholders and new users with enhanced functionality, advanced security, and a user-friendly experience.
• The portal can be accessed at the existing URL:https://ociservices.gov.in.

About OCI Scheme :

• The OCI scheme was introduced via an amendment to the Citizenship Act, 1955, in 2005.
• It allows Persons of Indian Origin to register as Overseas Citizens of India, if they were citizens on or after 26 January 1950 or were eligible then.
• Individuals linked to Pakistan or Bangladesh citizenship (self or ancestors) are not eligible.

Existing Portal & Need for Revamp:

• The existing OCI portal was launched in 2013.
• Operational in over 180 Indian missions abroad and 12 Foreigners Regional Registration Offices (FRROs).
• Processes around 2000 applications per day.
• The revamp addresses technological advancements and user feedback to improve the portal.

Technical and Security Features

• Infrastructure modernization with multiple web servers and load balancer on RedHat 9
• Software upgrades to latest versions of JDK, Struts 2.5.30, and Bootstrap 5.3.0 for multi-device compatibility.
• Enhanced security protocols: SSL/TLS encryption, regular penetration testing, and patch management.
• Process automation to streamline backend operation.
• Centralized data management for optimized storage and access.
• User Experience (UX) enhancements: Responsive design for all devices, faster load times, and mobile optimization.
• Cybersecurity improvements including Multi-Factor Authentication (MFA), server hardening, and latest antivirus integration.

Recent News :

• In March 2025, The government introduced a new Aadhaar Governance Portal (http://swik.meity.gov.in) to simplify the approval process for Aadhaar authentication requests.

About Ministry of Home Affairs :

• Cabinet Minister :Amit Shah
• Minister of State : Nityanand Rai, Bandi Sanjay Kumar

CURRENT AFFAIRS: MOUS AND AGREEMENT

Uber Integrates Delhi Metro Ticketing via ONDC for Seamless Multimodal Journeys

• Uber has added Delhi Metro ticket booking within its app, powered by the Open Network for Digital Commerce (ONDC).
• Users can now plan routes, purchase QR-based metro tickets, receive real-time updates, and book an Uber to the station—all without leaving the app.

Key Highlights:

• ONDC Integration: Enables in-app access to digital public goods, following the 2024 MoU signed during CEO Dara Khosrowshahi’s India visit.
• Seamless Multimodal Flow: Combines metro ticket purchase and ride-to-station booking in one user journey, encouraging public transport use.
• Real-Time Information: Offers live train schedules, platform alerts, and ticket validity updates.
• Expansion Plans: Uber will roll out metro ticketing in three more Indian cities by end of 2025.
• B2B Logistics via ONDC: Preparing a service that lets businesses tap Uber’s delivery network without owning fleets, enhancing operational agility.
• Strategic Vision: Uber CTO Praveen Neppalli Naga calls India’s advanced digital ecosystem a key step toward becoming a one-stop mobility platform.
• Sector Unification: ONDC acting CEO Vibhor Jain describes the partnership as a milestone for integrating India’s transport and logistics sectors.

CURRENT AFFAIRS: IMPORTANT DAYS

World Fair Play Day: May 19, 2025

• Starting in 2025, the United Nations General Assembly officially declared May 19 as World Fair Play Day to recognize the role of sports in promoting peace, inclusion, and justice worldwide.
• This observance highlights how sports transcend competition by fostering values such as fairness, discipline, respect, and unity.

Key Highlights:

• Purpose of World Fair Play Day:
  Sports serve as a powerful bridge between communities, breaking down barriers related to race, religion, and nationality by emphasizing shared human values like mutual respect and perseverance.
• Historical Example:
  The 1995 Rugby World Cup in South Africa, where Nelson Mandela used the event and the national team (Springboks) to promote national reconciliation and heal divisions post-apartheid.
• UN Resolution:
  Adopted under UN General Assembly Resolution A/78/L.85 in 2024, the day endorses key principles in sports such as:
  • Cooperation and inclusion
  • Respect and equality
  • Non-discrimination and anti-violence
  • Anti-doping measures

World Bee Day 2025: May 20

• World Bee Day, observed annually on May 20, is a United Nations initiative recognizing the crucial role of bees and other pollinators in maintaining biodiversity and global food security.
• The 2025 theme, “Bee inspired by nature to nourish us all,” highlights the connection between pollinators, sustainable agrifood systems, and ecosystem health.

Key Highlights:

• Role of Pollinators:
  Nearly 90% of wild flowering plants and over 75% of global food crops depend on animal pollination. Pollinators include over 200,000 animal species such as bees, butterflies, bats, and birds, essential for food diversity, crop yield, and quality.
• Threats to Pollinators:
  Human activities like intensive farming, pesticide use, deforestation, and urbanization are causing significant pollinator decline. Climate change endangers 35% of invertebrate and 17% of vertebrate pollinators, threatening nutrition and rural livelihoods.
• Global Efforts:
  The UN established World Bee Day to raise awareness. The International Pollinator Initiative (IPI), launched in 2000, aims to monitor pollinator decline, fill knowledge gaps, and protect pollinator diversity.

World Day For Cultural Diversity For Dialogue And Development 2025 - May 21

• World Day for Cultural Diversity for Dialogue and Development was observed on May 21.
• This day is observed to raise awareness about Cultural Diversity.
• UNESCO leads the celebration of World Day for Cultural Diversity for dialogue and development highlighting the importance of cultures.

History

• UNESCO adopted the World Day for Cultural Diversity in 2001.
• In 2002, the United Nations General Assembly declared May 21 as World Day for Cultural Diversity for Dialogue and Development.
• In 2015, the second committee of the United Nations General Assembly adopted the resolution on Cultural Diversity.
• United Nations General Assembly has sanctioned holidays for diversity issues.
• The 17 Sustainable Development Goals (SDG) have been achieved by creating the function of cultures.

Anti-Terrorism Day 2025 - May 21

• Anti-Terrorism Day is celebrated every year on May 21.
• This day is to commemorate the death anniversary of former Prime Minister Rajiv Gandhi.
• National Anti-Terrorism Day is observed annually to spread awareness about the Peace and the violence caused by terrorists. Anti-Terrorism Day is to spread awareness to bring unity among people.

History

• This day is observed on the death anniversary of former Prime Minister Rajiv Gandhi in 1991.
•  He was the sixth Prime Minister of India in 1984. Later, he was killed by terrorists in a Campaign.
• After the death of Rajiv Gandhi, the Government of V.P Singh has decided on May 21 as Anti-Terrorism Day. 2025 is the 31st death anniversary of former Prime Minister Rajiv Gandhi.
• On this day, the Anti Terrorism Pledge is taken in all public places, Government Offices, Government institutions, etc.

Daily CA One- Liner: May 21

• The Government e-Marketplace (GeM), India’s digital public procurement portal, celebrated its 8th Incorporation Day on May 19, 2025.
• India achieved a major public health milestone by receiving the WHO Certificate of Elimination of Trachoma as a public health problem during the 78th World Health Assembly (WHA) held in Geneva.
• The Tamil Nadu Forest Department has reassigned management of its ₹50 crore Endangered Species Conservation Fund to the Advanced Institute of Wildlife Conservation (AIWC), Vandalur
• The Tripura government has launched the Viksit Krishi Sankalp Abhiyan from May 29 to June 12, 2025, as part of a central initiative led by the Union Ministry of Agriculture
• Tamil Nadu has emerged as the largest recipient of funds from the Central government under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the current fiscal year (FY26), followed by Uttar Pradesh and Bihar (which is poll-bound).
• Kerala Chief Minister Pinarayi Vijayan inaugurated the ambitious ₹200 crore CIAL 2.0 project aimed at fully digitising operations at Cochin International Airport (CIAL), focusing on artificial intelligence, automation, and enhanced cybersecurity
• Uber has added Delhi Metro ticket booking within its app, powered by the Open Network for Digital Commerce (ONDC).
• The Reserve Bank of India (RBI) has granted “in-principle” approval to Emirates NBD Bank PJSC to set up a Wholly Owned Subsidiary (WOS) in India.
• SBM Bank India and ICICI Prudential Life Insurance Company have entered into a bancassurance partnership.
• The Securities and Exchange Board of India (SEBI) has tightened and standardised the internal audit mechanism norms for Market Infrastructure Institutions (MIIs) to strengthen governance.
• State Bank of India (SBI), the country’s largest lender, has cut interest rates on retail domestic term deposits by 20 basis points (bps)across all tenors, effective 16 May 2025.
• The Directorate General of Foreign Trade (DGFT) has amended the import policy and policy conditions for specific Indian Trade Classification (Harmonised System) 2022 [ITC (HS) 2022] codes, including those for precious metals, in line with the Finance Act 2025.
• The Reserve Bank of India (RBI) has proposed revised guidelines to ease investment norms for regulated entities (REs) like banks and Non Banking Finance Companies (NBFCs) in Alternative Investment Funds (AIFs).
• 30-year Treasury bond yield reached its highest level this year at 5.02%, rising by 13 basis points (bps), the biggest one-day increase in over six months.
• Britain (United Kingdom) and the European Union (EU) have agreed on a new deal to restore closer ties post-Brexit, focusing on trade and security.
• HCL Technologies (HCLTech) has appointed Kiran Cherukuri as the Global GCC Practice Leader.
• Raj Kumar, the LIC Nominee Director, has ceased to hold his position on the Board of IDBI Bank with effect from May 18, 2025.
• Operation Olivia is an annual mission by the Indian Coast Guard (ICG) focused on marine conservation, especially protecting Olive Ridley turtles.
• Union Home Minister and Minister of Cooperation, Shri Amit Shah, launched the new Overseas Citizen of India (OCI) Portal in New Delhi.
• Starting in 2025, the United Nations General Assembly officially declared May 19 as World Fair Play Day to recognize the role of sports in promoting peace, inclusion, and justice worldwide
• World Bee Day, observed annually on May 20, is a United Nations initiative recognizing the crucial role of bees and other pollinators in maintaining biodiversity and global food security
• World Day for Cultural Diversity for Dialogue and Development was observed on May 21.
• Anti-Terrorism Day is celebrated every year on May 21.