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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Seeks Nod to Allow Rupee Loans to Neighbouring Nations: Sources

• The Reserve Bank of India (RBI) is seeking approval from the Union Government to allow domestic banks and their foreign branches to lend Rupees to overseas borrowers for the first time.
• The proposal targets neighbouring countries such as Bangladesh, Bhutan, Nepal, and Sri Lanka as the initial recipients of Rupee-denominated loans.
• This move is aimed at internationalising the Rupee and enhancing its use and acceptability in global trade.

Key Highlights :

• According to the Ministry of Commerce, 90% of India's exports to South Asia in 2024/25 were to these four countries, totaling nearly $25 billion.
• Currently, foreign branches of Indian banks can only provide loans in foreign currencies, mostly to Indian firms, and cannot lend in Rupees.
• The RBI has allowed the opening of Rupee accounts for non-residents outside India, a step towards wider Rupee use.
• The proposal seeks to enable commercial banks to provide Rupee liquidity on market terms, reducing reliance on government-backed credit lines or bilateral currency swap arrangements.
• Allowing Rupee-denominated loans will help facilitate trade settlements in Rupees and reduce exposure to foreign exchange volatility.
• There is strong demand from financial institutions to support strategic projects through Rupee-denominated financing.
• India’s experience with local currency pacts with countries like the UAE, Indonesia, Maldives, and the use of Special Rupee Vostro Accounts with Sri Lanka and Bangladesh highlights the need to deepen Rupee liquidity.
• If implemented, this policy would be a major step in integrating the Rupee into the global financial system, making it a more widely accepted currency for international trade and investment.

Recent News :

• In May 2025, The RBInet sold $34.5 billion in FY25 (2024-25), the highest since the global financial crisis (2008-09).

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Reserve Bank of India Eases Norms to Attract More Foreign Portfolio Investors Investment in Corporate Bonds

• The Reserve Bank of India (RBI) relaxes investment norms for Foreign Portfolio Investors (FPIs) in the corporate bond market to encourage more aggressive participation.
• Previously, FPIs had to sell bonds with less than one year of residual maturity or reduce concentration in one-year papers to below 30% of their portfolio.
• Due to this rule, FPI participation was muted at ₹7.63 lakh crore, only 14.3% of the overall investment limit of ₹53.6 lakh crore.
• Now, FPIs can hold maturing papers until maturity, giving them greater flexibility and reducing regulatory hurdles.

Key Highlights :

• RBI has also increased the investment limit for FPIs in corporate bonds to:
• ₹8.22 lakh crore for April–September 2025
• ₹8.80 lakh crore for October 2025–March 2026
• Increased foreign interest is expected when RBI makes it easier for FPIs to invest, especially when the yield differential is high.
• RBI’s guidelines do not directly impact government bonds, but overall sentiment may lead to increased rupee investment benefiting the debt market.
• Global bond index inclusions (like JPMorgan GBI-EM, FTSE Russell EMGBI) span 5–10 years or more and help put India in focus alongside government securities (G-Secs).
• Recently, FPIs have sold about ₹12,000 crore of Indian corporate bonds due to concerns over rate cuts (from ₹11.2 lakh crore on March 28 to ₹10.8 lakh crore on May 23).
• FPIs are currently investing in long-term Indian corporate bonds, government bonds, and US papers with lower yields.
• The RBI’s proposal to allow FPI debt-only investors over short-term tenures signals its intent to attract global investors and test the waters with these relaxation measures.

Government Finances Get a Boost from RBI Transfer

• The Reserve Bank of India’s (RBI's) Record Surplus Transfer will moderately offset the fiscal impact of any likely rise in defence expenditure.
• The RBI transferred ₹2.11 trillion in surplus for FY25, higher than earlier years but ₹13,000 crore more than FY26 Budget Estimate (BE) of ₹2.56 trillion (which also includes dividends from nationalised banks and financial institutions).
• Market expectations ranged from ₹31,000 crore to ₹80,000 crore more than the actual transfer.
• If this had materialised, it could have absorbed increased defence expenditure without affecting other expenditures or the fiscal deficit target.
• In the FY26 Budget, defence expenditure is pegged at 1.4% of GDP, but it may increase by 0.25% of GDP (₹89,000 crore) in the event of conflict with Pakistan.
• Though RBI’s surplus decision pertains to FY25, the funds will enter the exchequer in FY26, unless an interim dividend is announced.
• For the past four years, nationalised banks and FIs have also paid dividends to the government, contributing to the overall non-tax revenue.

Money Matters – Surplus Transfer Trends (₹ Trillion) :

* FY20 RBI figure excludes interim dividend paid in the previous year.

RE: Revised Estimates, BE: Budget Estimates, FIs: Financial Institutions

Reserve Bank of India Approves Sale and Change of Control of Capital India Home Loans Limited to Weaver Services

• Capital India Home Loans Limited (CIHL) has received approval from the Reserve Bank of India (RBI) for its acquisition and change in control to Weaver Services Private. Limited.
• This regulatory nod is a significant milestone in CIHL’s ongoing strategic consolidation efforts.
• The CIFL Board approved the sale of its 100% stake in CIHL, valued at ₹267 crore, to Weaver Services.
• CIHL filed an application with the RBI seeking approval for the acquisition and change in control.
• The approval paves the way for the completion of the transaction, expected within the first half of FY 2025-26.
• The move aligns with CIFL’s strategy to strengthen its core lending business and drive long-term value for stakeholders.

Getepay Receives RBI Approval to Operate as Online Payment Aggregator

• Getepay has received final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
• Getepay is the first fintech firm from Rajasthan to secure this RBI license, marking a significant milestone for the company and the Indian fintech ecosystem.
• The approval supports Getepay’s mission to promote digital transformation and financial inclusion for micro, small, and medium enterprises (MSMEs) across India.
• Getepay currently serves over 1.5 million merchants, including kirana stores, micro-retailers, e-commerce businesses, educational institutions, service
• providers, and small-scale manufacturers.
• The RBI approval enables Getepay to expand digital payment solutions and commerce enablement tools particularly in Tier 2, Tier 3, and rural areas.
• The company plans to roll out an integrated suite of merchant services such as digital storefronts, inventory management, GST billing, and other value-added services.
• Founder and CEO of Getepay :Pravin Sharma

Foreign Direct Investment in India’s Renewable Energy Sector Increases Eight Times Between FY21 and FY25

• The Council on Energy, Environment and Water’s Green Finance Centre (CEEW-GFC) released its latest annual market handbook noting a rise in the share of renewable energy (RE) in India’s total FDI inflows from around 1% in FY21 to about 8% in FY25.
• The RE sector attracted $3.4 billion in FDI in the first three quarters of FY25, nearly matching the total FDI inflows for the entire FY24 ($3.7 billion).
• Under current FDI policy, 100% FDI is permitted in the renewable/non-conventional energy and power sectors under the automatic route.
• According to the Ministry of New & Renewable Energy (MNRE), total investments (including FDI) in the sector comprising Solar, Wind, Small Hydro, Large Hydro, Nuclear, and Bio energy almost reached ₹4 lakh crore in the last five years ending in 2024.
• Gujarat and Rajasthan together account for over one-third of India’s installed renewable energy sources (RES) capacity and attracted more than half of the investments in the sector between 2020-2024.
• Among all RES, solar power received cumulative investments of around ₹2.64 lakh crore, which is about 66% of the total investments in the RES sector.
• In FY25, India’s total installed power capacity reached 475 GW, with 220.1 GW (46.3%) from renewable energy and 221.8 GW (46.7%) from coal capacity.

Axis Bank and super.money Unveil RuPay-Powered Cashback Credit Card

• Axis Bank, a leading private sector bank in India, has partnered with money, the Flipkart Group’s credit-first UPI platform, to launch a lifetime-free co-branded RuPay credit card.
• The card offers high rewards, UPI-enabled convenience, and zero annual fees.
• The Axis Bank super.moneyRuPay Credit Card supports transactions via UPI, POS terminals, online purchases, and ATM withdrawals.

Key cashback benefits include:

• 3% cashback on UPI-based ‘Scan & Pay’ transactions through the money app.
• 1% cashback on all other eligible spending categories (excluding some, like fuel surcharge).
• Cashback capped at ₹500 per billing cycle.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 (up to ₹400 per cycle).
• The card has no joining or annual fees, making it lifetime free.
• Available in both digital and physical formats.
• The card runs on RuPay, India’s indigenous card payment network, which has gained wide adoption through its integration with UPI.

Recent News :

• In March 2025, Axis Bank became the first Indian bank to execute an aircraft financing transaction through its IBU at GIFT City IFSC.

About Axis Bank:

• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)

IndusInd Bank Partners with AIC STPINEXT to Support Startups and MSMEs

• IndusInd Bank has signed a pact with AIC STPINEXT to provide financial solutions and structural support to early-stage startups and MSMEs.
• AIC STPINEXT is a special purpose vehicle of Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY).
• Under the collaboration, IndusInd Bank will offer tailored banking solutions to support startups associated with STPI/STPINEXT.
• The bank will provide a specialized Current Account with no quarterly average balance requirement, simplifying financial management for startups.
• Additional support includes expert guidance and workshops on topics such as banking basics, equity infusion, Employee Stock Ownership Plans (ESOPs), and segment-based funding.
• To improve operational efficiency, the bank will offer payroll and attendance management services to early-stage startups free of cost.

About IndusInd Bank:

• Headquarters: Mumbai, Maharashtra, India
• CEO: Sumant Kathpalia
• Founded Year: 1994
• Slogan: "We Make You Feel Richer"

Canara Bank Introduces ‘CANARA TruEdge’ to Cater to Institutional Banking Requirements

• Canara Bank has launched “CANARA TruEdge,” a specialised and feature-rich suite of Current and Savings Accounts designed for institutional clients across sectors like healthcare, education, religious organisations, and other non-individual entities.
• The suite carries the tagline: “Grow with trust, lead with edge.”
• It aims to enhance customer segmentation and provide tailored solutions aligned with clients’ operational and financial workflows.
• The product offers zero initial deposit requirement for easy onboarding.
• Benefits increase proportionally as institutions maintain higher account balances.

Key features include:

• Access to a 5-tier Monthly Average Balance (MAB)
• Charge waivers and premium services.
• Integrated digital tools.
• Free Coursera licenses for institutions.
• Premium debit cards.
• Dedicated relationship support available across Pan-India branches.

About Canara Bank:

• Founded: 1906
• Headquarters: Bengaluru, Karnataka, India
• Managing Director & CEO: K. Satyanarayana Raju

Muthoot Microfin Achieves Top CareEdgeESG 1 Rating with 72.2 ESG Score from SEBI-Approved CARE ESG Ratings

• Muthoot Microfin has secured an ESG score of 72.2 and received the CareEdgeESG 1 rating, the highest tier by CARE ESG Ratings, a SEBI-licensed ESG rating provider.
• This achievement places Muthoot Microfin among India’s ESG leaders in the financial services sector.
• The company has outperformed industry medians across the Environmental, Social, and Governance (ESG) pillars.
• The rating places Muthoot Microfin in the ‘Leadership’ position for effectively managing ESG risks through better disclosures, policies, and performance.
• The rating recognises the company’s leadership in embedding ESG excellence into its core operations, including:
• Empowering women borrowers in rural India
• Pioneering climate risk integration
• Promoting inclusive workplace practices.

CURRENT AFFAIRS : NATIONAL NEWS

Govt Extends Remission of Duties and Taxes on Exported Products Benefits to Export Oriented Units, Advance Authorisation Holders, and Special Economic Zones Units

• The government has extended the benefits of the RoDTEP (Remission of Duties and Taxes on Exported Products) scheme to Export Oriented Units (EOUs), Advance Authorisation (AA) holders, and units in Special Economic Zones (SEZs).
• According to a DGFT notification, the benefits will be applicable from June 2025.
• These exporter categories were excluded from the scheme after RoDTEP benefits lapsed on December 31, resulting in a 6-month gap.
• Exporters had been demanding the restoration of the scheme amid global trade uncertainties influenced by factors such as the US Presidential Election and trade policies under the Trump administration.

Key Highlights :

• RoDTEP is designed to refund duties, taxes, and levies at the central, state, and local levels that increase the cost of exported products.
• RoDTEP replaced the earlier MEIS (Merchandise Exports from India Scheme) after the WTO ruled against India’s export subsidies following a challenge by the US.
• Refund rates under RoDTEP range from 0.3% to 3.9% of the product’s export value.
• The benefits are provided as transferable duty credit scrips, which can be used to offset import duties or traded in the market.
• The scheme is operated under a fixed budgetary framework.
• RoDTEP was launched in 2021 and currently covers 10,642 export products.
• The scheme has undergone multiple revisions and extensions; last extended in September 2024 for a year, but EOUs, AAs, and SEZs were excluded beyond
• The restoration of RoDTEP benefits is expected to:
• Ensure a level playing field for EOUs, AAs, and SEZ exporters.
• Boost price competitiveness in international markets.
• Help exporters face intense global competition and demand uncertainties.
• Support in increasing India’s share in global trade.

Aizawl Becomes Fourth Northeast Capital Linked to Rail Network After Successful Trial Run

• Aizawl, the capital of Mizoram, is now connected to the national railway network via the Bairabi–Sairang line.
• Bairabi (in Kolasib district) was previously the only railhead in Mizoram; Sairang is a satellite town about 20 km from Aizawl.
• The formal inauguration of the Bairabi–Sairang line is expected after June 17, following inspection by the Commission of Railway Safety (CRS).
• The CRS inspection is the final safety audit needed before train operations can begin.
• A successful trial run on this line was conducted on May 1 by the Northeast Frontier Railway (NFR).

Key Highlights :

• With this connection, Mizoram becomes the fourth northeast state with its capital linked to the railway network, after Assam, Tripura, and Arunachal Pradesh.
• Earlier, trains only ran 1.5 km inside Mizoram; the new line extends rail connectivity further.
• The Bairabi–Sairang New Line is a 51.38 km railway project with a revised sanctioned cost of ₹5,021.45 crore.
• The project has achieved:
• 94.52% physical progress
• 97.13% financial progress
• The project is divided into four sections:

1. Bairabi–Hortoki (16.72 km) – commissioned in July 2024
2. Hortoki–Kawnpui (9.71 km)
3. Kawnpui–Mualkhang (12.11 km)
4. Mualkhang–Sairang (12.84 km) – expected to be operational by June 2025

• The project involved challenging engineering due to Mizoram’s difficult terrain.

Key infrastructure includes:

• 48 tunnelstotaling12,853 meters
• 55 major bridges
• 87 minor bridges
• 5 Road Over Bridges (ROBs)
• 6 Road Under Bridges (RUBs)
• Notable structure: Bridge No.196, which is 104 meters high — 32 meters taller than the Qutub Minar.

Indian Prime Minister Shri Narendra Modi Inaugurates First 9,000 HP D9 Locomotive Built in Dahod, Gujarat

• Prime Minister Narendra Modi inaugurated the first 9,000 horsepower locomotive called D9, manufactured at the rolling stock workshop facility in Dahod, Gujarat.
• The D9 locomotive is the second-most powerful locomotive of Indian Railways, after the 12,000-horsepower WAG-12B.
• Dahod, once among the 100 backward districts in India, is now recognized globally for locomotive manufacturing.
• Locomotives manufactured in Dahod will be exported internationally, generating employment in the tribal region and supporting ancillary industries.

Key Highlights :

• The Dahod facility plans to produce 1,200 electric freight locomotives over the next 11 years, costing approximately ₹21,405 crore.
• Currently, the facility has delivered two electric locomotives.
• The foundation for the new loco unit was laid by the Prime Minister on April 20, 2022.
• Siemens, a German engineering firm, won the contract to set up the unit and maintain the locomotives for 35 years; Siemens also manufactures similar trains in Austria, Visakhapatnam, Raipur, Khargarpur, and Madhepura.
• India has become a major manufacturer of locomotives, with Indian passenger coaches operating in countries like Mozambique and Sri Lanka.
• The new 9,000 HP locomotives will operate on the Western Dedicated Freight Corridor, increasing average freight train speeds from 20–25 kmph to 50–60 kmph.

Features of the locomotives include:

• AC cabin and toilet for the loco pilot.
• Capacity to carry 4,500 tonnes of cargo in double stack configuration.
• Maximum speed of 75 kmph.
• Equipped with regenerative braking systems to reduce energy consumption.
• The Railways ministry is collaborating with local engineering colleges for specialized training to build a skilled workforce.
• The initiative aligns with the ‘Make in India’ program and is expected to create over 10,000 direct and indirect jobs.

The Prime Minister also inaugurated:

• Doubling work at Anand-Godhra, Mehsana-Palanpur, Rajkot-Hadmatiya, and Rajkot-Jetalsar sections.
• Electrification of Samakhiali–Maliya Miyana–Santalpur, Santalpur–Palanpur, and Sabarmati–Botad rail lines.
• Gauge conversion of Kalol–Kadi–Katosan rail line with a budget of ₹2,287 crore.

Government to Procure 0.6 Million Tonnes of Tur, Highest Since FY20

• The government is likely to procure about 0.6 million tonne (MT) of tur in the ongoing 2024-25 kharif season at Minimum Support Price (MSP) – the highest since 2019-20.
• The procurement aims to build buffer stocks for market intervention during the festive season, to stabilize retail prices.

Key Highlights :

• Procurement Agencies Involved:Procurement is being done under the Price Support Scheme (PSS) by Nafed and NCCF in major tur-growing states:Maharashtra, Karnataka, Gujarat, Andhra Pradesh

Tur Procurement Comparison Over Years (in tonnes):

• 2020-21: 11,004
• 2021-22: 36,184
• 2022-23: Nil
• 2023-24: Nil
• 2024-25: 5,57,561 (as of May 24, 2025)

Tur MSP vs. Mandi Price (2024-25):

• MSP: ₹7,550/quintal
• Mandi prices (Latur, Maharashtra): ₹6,800–6,900/quintal (below MSP)
• Previous Challenges in Procurement:In the last two seasons, due to low production and high mandi prices (₹9,000–₹10,000/quintal), agencies were unable to procure tur for buffer stock.

Retail Price Trend:

• February 2025: ₹160/kg
• May 2025: ₹120/kg
• This marks a 25% decline in retail prices of tur.
• Trade Hub Mentioned:Latur in Maharashtra is highlighted as the main trade hub for tur in the country.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

President Murmu Appoints Justice Surya Kant as Executive Chairman of National Legal Services Authority

• President Droupadi Murmu has nominatedSupreme Court judge Surya Kant as the executive chairman of the National Legal Services Authority (NALSA).
• The previous executive chairman of NALSA was Justice B R Gavai, judge of the Supreme Court of India.
• As per convention, the post of NALSA executive chairman is held by the second senior-most judge of the Supreme Court of India.
• Justice B R Gavai is scheduled to be sworn in as the 52nd Chief Justice of India (CJI) on May 14.
• Justice Surya Kant is currently the chairman of the Supreme Court Legal Services Committee.

About NALSA :

• Formed : 9 November 1995
• Headquarters : New Delhi, India
• NALSA was constituted under the Legal Services Authorities Act, 1987, to provide free legal services to the weaker sections of society.
• NALSA also organizes Lok Adalats for amicable settlement of disputes.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Air Force Carries Out Significant Exercise on Ganga Expressway in Shahjahanpur, Uttar Pradesh

• The Indian Air Force (IAF) conducted a historic exercise by landing fighter jets at night on the 3.5-km airstrip of the Ganga Motorway in Shahjahanpur district, Uttar Pradesh.
• This was the first time in India that fighter jets landed at night on a highway, marking a major advancement in military preparedness.
• The exercise involved advanced fighter jets such as Rafale, Jaguar, Mirage 2000, SU-30 MKI, MiG-29, along with transport aircraft like C-130J Super Hercules, AN-32, and the MI-17 V5 helicopter.
• The air exercise was conducted in two phases: daytime and nighttime, to test the airstrip’s suitability for emergency operations such as wartime landings or disaster relief.
• Uttar Pradesh Minister of State Danish Azad Ansari highlighted that Uttar Pradesh is the first state in India to allow night landings of fighter jets on a motorway.
• The 594-km Ganga Expressway, connecting Meerut to Prayagraj, is nearing completion and is expected to be inaugurated by November 2025.
• This is India's first expressway-integrated airstrip capable of supporting round-the-clock fighter jet operations.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

SBI Life and Vidyaniti Buy 4.25% Stake in NHIT for Rs 1,100 Crore

• SBI Life Insurance and Vidyaniti LLP acquired a 4.25% stake in National Highways Infra Trust (NHIT) for Rs 1,100 crore through an open market transaction.
• A total of 8.24 crore units (representing 4.25% unit-holding) were acquired by both entities.
• SBI Life Insurance purchased over 3.74 crore units (1.93% holding) in NHIT.
• Vidyaniti LLP acquired more than 4.49 crore units (2.3% holding) in NHIT.
• The units were bought at an average price of Rs 133.57 per unit, with a total transaction value of Rs 1,100.61 crore.
• National Highways Authority of India (NHAI) divested 8.24 crore units of NHIT at the same price.
• On the day of the transaction, NHIT units closed at Rs 133.50 per unit on the National Stock Exchange (NSE).
• NHIT is an infrastructure investment trust (InvIT) sponsored by NHAI, established in 2021 to support the government’s National Monetisation Pipeline.

Recent News :

• In March 2025, SBI Mutual Fund sold a 4.7% stake in NHIT for Rs 815 crore.

CURRENT AFFAIRS : SPORTS NEWS

ISSF Junior World Cup 2025: Tejaswini Clinches 25m Pistol Gold as India Finish on Top of Medal Table

• Tejaswini won the women’s 25m pistol gold medal, helping India top the medal tally with 11 medals (3 gold, 4 silver, 4 bronze).
• India finished ahead of China, which won 3 gold and 1 bronze
• Tejaswini scored 31/50, beating neutral athlete Alina Nestsiarovich (29/50) for gold.
• The bronze medal in women’s 25m pistol was won by Miriam Jako (Hungary) with 23/45.
• Indian shooters Divyanshi, Riya Shirish, and Naamya Kapoor did not qualify for the 8-shooter final in the women’s 25m pistol event.
• Indian pairs Zuhair Khan/Sabeera Haris and Bhavya Tripathi/Vinay Pratap Singh Chandrawat competed in mixed trap but did not make the final.
• The event in Suhl was the first Junior ISSF World Cup of 2025, held from May 19, featuring Olympic and non-Olympic disciplines for under-21 shooters.
• Paris 2024 Olympian Razia Dhillon won silver in women’s skeet.
• Shambhavi Shravan Kshirsagar (women’s 10m air rifle) and Kanak (women’s 10m air pistol) both won gold medals.
• Adriyan Karmakar, son of Olympian Joydeep Karmakar, won silver in men’s 50m prone with a junior national record, and a bronze in 50m rifle 3 positions.
• The competition had 638 athletes from 59 national federations.
• India had the largest contingent with 57 athletes.
• The second Junior World Cup of the season will be held in New Delhi from Sept 24 to Oct 2.

List of Indian Medal Winners at ISSF Junior World Cup 2025

• Shambhavi Shravan Kshirsagar – Gold, women’s 10m air rifle
• Kanak – Gold, women’s 10m air pistol
• Tejaswini – Gold, women’s 25m pistol
• Adriyan Karmakar – Silver, men’s 50m rifle prone
• Ojasvi Thakur – Silver, women’s 10m air rifle
• Khyaty Chaudhary/Naraen Pranav Vanitha Suresh – Silver, 10m air rifle mixed team
• Raiza Dhillon – Silver, women’s skeet
• Naraen Pranav Vanitha Suresh – Bronze, men’s 10m air rifle
• Adriyan Karmakar – Bronze, men’s 50m rifle 3 positions
• Mukesh Nelavalli – Bronze, men’s 25m rapid fire pistol
• Shambhavi Shravan Kshirsagar/Himanshu – Bronze, 10m air rifle mixed team

Mahendra Gurjar of India Breaks World Record at World Para Athletics Grand Prix in Switzerland

• Mahendra Gurjar, aged 27, set a world record in men’s javelin F42 category with a throw of 61.17m at the Nottwil World Para Athletics Grand Prix in Switzerland.
• He broke the previous world record of 59.19m, set by Brazil’s Roberto Floriani Edenilson in 2022.
• Gurjar’s record-breaking throw came on his third attempt after initial throws of 56.11m and 55.51m.
• His last three throws were 58.54m, 57.25m, and 58.07m.
• F42 category is for field athletes with moderately affected movement in one leg.
• Gurjar competed in a combined event with para-athletes from F40, F57, F63, and F64 categories.
• Sumit Antil, a double Paralympic gold medallist, won gold in men’s javelin F64 with a throw of 72.35m.
• F64 category is for athletes with moderately affected movement in one/both legs or limb absence.
• Gurjar also won gold in long jump T42 category with a jump of 59m on May 23, his first competition in this event.
• After the long jump gold, he became Asia No. 1 in long jump T42.
• The F42 category was not included in the 2023 Hangzhou Asian Para Games or the 2024 Paris Paralympics.

Daily CA on May 28 :

• The Reserve Bank of India (RBI) is seeking approval from the Union Government to allow domestic banks and their foreign branches to lend Rupees to overseas borrowers for the first time.
• The Reserve Bank of India (RBI) relaxes investment norms for Foreign Portfolio Investors (FPIs) in the corporate bond market to encourage more aggressive participation.
• The Reserve Bank of India’s (RBI's) Record Surplus Transfer will moderately offset the fiscal impact of any likely rise in defence expenditure.
• Capital India Home Loans Limited (CIHL) has received approval from the Reserve Bank of India (RBI) for its acquisition and change in control to Weaver Services Private. Limited.
• Getepay has received final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
• The Council on Energy, Environment and Water’s Green Finance Centre (CEEW-GFC) released its latest annual market handbook noting a rise in the share of renewable energy (RE) in India’s total FDI inflows from around 1% in FY21 to about 8% in FY25.
• Axis Bank, a leading private sector bank in India, has partnered with money, the Flipkart Group’s credit-first UPI platform, to launch a lifetime-free co-branded RuPay credit card.
• IndusInd Bank has signed a pact with AIC STPINEXT to provide financial solutions and structural support to early-stage startups and MSMEs.
• Canara Bank has launched “CANARA TruEdge,” a specialised and feature-rich suite of Current and Savings Accounts designed for institutional clients across sectors like healthcare, education, religious organisations, and other non-individual entities.
• Muthoot Microfin has secured an ESG score of 72.2 and received the CareEdgeESG 1 rating, the highest tier by CARE ESG Ratings, a SEBI-licensed ESG rating provider.
• The government has extended the benefits of the RoDTEP (Remission of Duties and Taxes on Exported Products) scheme to Export Oriented Units (EOUs), Advance Authorisation (AA) holders, and units in Special Economic Zones (SEZs).
• Aizawl, the capital of Mizoram, is now connected to the national railway network via the Bairabi–Sairang line.
• Prime Minister Narendra Modi inaugurated the first 9,000 horsepower locomotive called D9, manufactured at the rolling stock workshop facility in Dahod, Gujarat.
• The government is likely to procure about 0.6 million tonne (MT) of tur in the ongoing 2024-25 kharif season at Minimum Support Price (MSP) – the highest since 2019-20.
• President Droupadi Murmu has nominated Supreme Court judge Surya Kant as the executive chairman of the National Legal Services Authority (NALSA).
• The Indian Air Force (IAF) conducted a historic exercise by landing fighter jets at night on the 5-km airstrip of the Ganga Motorway in Shahjahanpur district, Uttar Pradesh.
• SBI Life Insurance and Vidyaniti LLP acquired a 4.25% stake in National Highways Infra Trust (NHIT) for Rs 1,100 crore through an open market transaction.
• Tejaswini won the women’s 25m pistol gold medal, helping India top the medal tally with 11 medals (3 gold, 4 silver, 4 bronze).
• Mahendra Gurjar, aged 27, set a world record in men’s javelin F42 category with a throw of 6.17m at the Nottwil World Para Athletics Grand Prix in Switzerland.