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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India's Goods and Services Exports Expected to Hit $1 Trillion by FY26: FIEO

• The overall goods and services exports of India are expected to reach $1 trillion during FY 2025-26, according to the Federation of Indian Export Organisations (FIEO).
• In FY 2024-25, total exports stood at $825 billion.
• FIEO President S C Ralhan projected:
• Merchandise exports to increase from $437 billion (2024-25) to $525-535 billion in FY 2025-26.
• Services exports to rise from $387 billion to $465-475 billion in FY 2025-26.

Key Export Sectors Driving Growth

• Electrical and Electronics: Expected to reach $60 billion.
• Machinery: Estimated at $40 billion.
• Chemicals: Estimated at $40 billion.
• Pharmaceuticals: Around $30 billion.
• Petroleum: Highest share at $70 billion.
• Apparel and Madeups: Expected $23-25 billion.
• Gems and Jewellery: Estimated $30-35 billion.
• Agriculture: Expected to contribute $55 billion.

Reserve Bank of India’s New Default Loss Guarantee Norms Likely Triggered by Fintechs’ Excessive Dependence on Lenders

• The Reserve Bank of India’s (RBI’s) directive dated May 8, 2024, mandates lenders to exclude Default Loss Guarantee (DLG) cover while making provisions for bad loans (NPA recognition and provisioning).
• DLG is a contractual arrangement where a fintech entity guarantees to compensate the lender (bank or NBFC) for losses due to loan defaults up to a specified percentage (typically up to 5%) of the loan portfolio.

Key Highlights :

• The liability of borrowers in respect of the underlying loan remains unaffected, even if the DLG is invoked by the lender.
• The amount of DLG invoked cannot be set off against the underlying individual loans — lenders must recognize NPAs and make provisions independently of any DLG cover.
• Recovery proceeds from loans for which DLG has been invoked may be shared with the DLG provider as per contractual terms.
• DLG once invoked shall not be reinstated, even through loan recoveries
• The update is aimed at fintechs overly reliant on lenders, especially those with business models built around the DLG
• This move is seen as a credit tightening measure by RBI to ensure caution in lender-fintech partnerships.
• The responsibility of NPA recognition and provisioning lies solely with the lender, regardless of any DLG provided by fintechs.
• Banks may reduce co-origination partnerships with fintechs following these guidelines due to increased risk on lenders.

Recent News :

• In May 2025, The 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.

About RBI :

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

Securities and Exchange Board of India likely to relax F&O position limits for structured products and market-linked debentures (MLDs)

• Market Regulator Securities and Exchange Board of India (SEBI) is considering exempting the proposed long delta end-of-day position limits in index options specifically for structured products and market-linked debentures (MLDs).

Key Highlights :

• Structured products or MLDs are pre-packaged investments linked to an index or basket of securities, combining debt and equity derivatives used primarily for hedging.
• The structured products/MLDs industry is estimated to be worth nearly ₹30,000–40,000 crore, including listed MLDs.
• Issuers of MLDs and structured products have made representations to SEBI seeking exemptions from proposed exposure caps, arguing that limits may hinder genuine hedging and cause unnecessary unwinding of positions.
• SEBI is in discussions with such entities and is expected to give relaxations in addition to increasing the proposed delta long gross limits.
• As a matter of principle, SEBI agrees that hedging tools should not have stringent limits to avoid harming legitimate market activity.
• SEBI plans to revise the proposed limits to:
• Gross limits: ₹10,000 crore
• End-of-day limit: ₹1,500 crore on a delta-based gross interest
• SEBI is likely to remove the earlier proposed intraday net limit of ₹1,000 crore and gross limit of ₹2,500 crore.
• Instead, SEBI will strengthen monitoring by stock exchanges to prevent market manipulation.
• Earlier (February, 20225), SEBI had proposed:
• Net end-of-day future equivalent limit: ₹500 crore
• Gross limit: ₹1,500 crore
• Currently, there is a net limit of ₹500 crore but no gross limit.

Recent News :

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

About SEBI :

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

Finance Minister Nirmala Sitharaman chairs review meeting of Public Sector General Insurance Companies (PSGICs) in New Delhi

• Union Finance Minister Smt. Nirmala Sitharaman chaired a review meeting of Public Sector General Insurance Companies (PSGICs) in New Delhi.
• Attendees included Secretary, Department of Financial Services (DFS) Shri M. Nagaraju, Managing Directors of PSGICs (New India Assurance, United India Insurance, Oriental Insurance, National Insurance), General Insurance Corporation of India (Reinsurance), Agriculture Insurance Company of India Limited, and other senior Finance Ministry officials.

Key performance indicators reviewed:

• Premium collections
• Insurance penetration and density
• Incurred claims ratios

Key Highlights :

• Total premium collections by PSGICs rose from around ₹80,000 crore in 2019 to nearly ₹1.06 lakh crore in 2025.
• The overall general insurance industry grew to ₹3.07 lakh crore premium collections in FY 2024–25.
• Insurance penetration in India is relatively low at 1% of GDP versus the global average of 4.2% in 2023.
• Insurance density improved from $9 in 2019 to $25 in 2023.
• The Finance Minister stressed the need to improve penetration and density for wider financial protection.
• Five-year health insurance segment analysis showed:
• Consistent premium growth across Private Insurers, Standalone Health Insurers (SAHI), and PSGICs.
• Incurred claims ratios peaked during COVID-19 (FY21):
• PSGICs: 126%
• Private insurers: 105%
• By FY24, ratios moderated to:
• PSGICs: 103%
• Private insurers: 89%
• SAHI: 65%
• PSGICs have achieved a significant turnaround and are now profitable:
• OICL and NICL posted profits from Q4 FY 2023-24 and Q2 FY 2024-25
• UIICL posted profit in Q3 FY 2024-25 after a 7-year gap.
• NIACL remains the market leader with consistent profits.

About Ministry of Finance:

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

ICRA projects 6–6.5% rise in power demand over the next five years

• India’s energy demand is expected to grow at a CAGR of 6–6.5% over the next five years (FY26 to FY30), according to ratings agency ICRA.

Growth drivers for energy demand include:

• Rising adoption of electric vehicles (EVs)
• Expansion of green hydrogen (GH)
• Increasing capacity of data centres requires significant electricity for servers.
• These three sectors (EVs, GH, data centres) are expected to contribute to 20–25% of incremental energy demand over the next five years.
• Grid capacity demand may slightly reduce due to increased use of rooftop solar panels and off-grid renewable projects, supported by government schemes like PM Surya Ghar Yojana.
• Power generation capacity expansion is projected to hit an all-time high of 44 GW in FY26, surpassing the previous record of 34 GW in FY25.
• The overall installed power generation capacity is expected to reach nearly 520 GW by March 2026.
• Early onset of monsoon in 2025 has led to lower-than-expected power demand this summer, resulting in excess coal stock with coal producers.
• The national grid demand has not exceeded 220 GW on peak days this summer, indicating softer power demand.
• Lower power demand has also kept coal import prices low.

EY Report Projects India’s GDP Growth at 6.5% for FY26  

• India is projected to achieve a real GDP growth of 6.5% in FY26, driven by strong domestic demand and a pickup in private investment supported by lower interest rates.
• Despite global uncertainties, India remains one of the fastest-growing major economies.
• Growth moderation is expected due to a combination of global and domestic factors, including:
• Continuing supply chain disruptions,
• Impact of recent US tariff measures,
• Broader uncertainties in global trade and geopolitical developments.
• Easing inflation and an accommodative monetary policy are supporting prospects of reviving private investment.
• The central government’s direct tax exemptions and fiscal stimulus measures, along with RBI rate cuts, are expected to boost consumption and investment.
• The government aims to lift FY26 growth towards the upper end of the Economic Survey forecast range of 6.3% to 6.8%.
• Various agencies have lowered their growth forecasts to between 6.0% and 6.5% for FY26.
• Near-term growth requires a balanced mix of monetary and fiscal policies to stimulate consumption and investment momentum.

CURRENT AFFAIRS: NATIONAL NEWS

Cabinet Approves Hike in MSP for 14 Kharif Crops for 2025-26

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the increase in Minimum Support Prices (MSP) for 14 Kharif crops for the Marketing Season 2025–26 to ensure remunerative prices for farmers.

Major Highlights

• MSP hike is in line with the Union Budget 2018–19 policy of setting MSP at 1.5 times the All-India weighted average cost of production.
• The highest absolute MSP increase is for:
  • Nigerseed: ₹820/quintal
  • Ragi: ₹596/quintal
  • Cotton: ₹589/quintal
  • Sesamum: ₹579/quintal
• Highest margin over cost of production:
  • Bajra: 63%
  • Maize and Tur (Arhar): 59%
  • Urad: 53%
  • Remaining crops: 50%

Selected MSP Comparison for 2025-26

 MSP and Procurement Trends (2004–2025)

Cabinet Approves Two Multitracking Projects to Enhance Rail Capacity in Maharashtra and Madhya Pradesh

• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved two major multitracking projects under the PM-Gati Shakti National Master Plan.
• These initiatives will seamlessly increase line capacity, speeding up passenger and freight movement, reducing logistics costs, cutting oil imports, and lowering CO₂
• The two projects covering four Districts across the states of Maharashtra, and Madhya Pradesh, will increase the existing network of Indian Railways by about 176 Kms.

Key Highlights

Projects Approved

• Ratlam–Nagda: Addition of a 3rd and 4th line
• Wardha–Balharshah: Addition of a 4th line

Financials & Timeline

• Estimated Cost: ₹3,399 crore
• Completion: By 2029–30

Economic & Environmental Impact

• Additional Freight Capacity: 18.40 MTPA (Million Tonnes Per Annum)
• Oil Import Savings: ~20 crore litres
• CO₂ Emission Reduction: 99 crore kg (equivalent to planting 4 crore trees)
• Employment Generation: ~74 lakh human-days during construction

Union Cabinet Approves Continuation of Modified Interest Subvention Scheme (MISS) for FY 2025–26

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the continuation of the Interest Subvention (IS) component under the Modified Interest Subvention Scheme (MISS) for the financial year 2025–26, along with necessary fund arrangements.
• The scheme plays a crucial role in providing affordable short-term agricultural credit to farmers through Kisan Credit Cards (KCC).

Key Features of MISS:

• Objective: To ensure availability of short-term credit to farmers at subsidized interest rates through institutional mechanisms.
• Farmers can avail short-term loans up to ₹3 lakh through KCC at a 7% interest rate.
• A 1.5% interest subvention is provided to eligible lending institutions.
• An additional 3% Prompt Repayment Incentive (PRI) is given to farmers repaying loans on time, reducing the effective interest rate to 4%.
• For loans taken exclusively for animal husbandry or fisheries, the interest benefit applies for loans up to ₹2 lakh.
• Scheme Status: No structural or component changes have been introduced.
• KCC Penetration: Over 7.75 crore KCC accounts are operational across India.
• KCC credit disbursement has risen from ₹4.26 lakh crore in 2014 to ₹10.05 lakh crore by December 2024.
• Total agricultural credit has grown from ₹7.3 lakh crore in FY 2013–14 to ₹25.49 lakh crore in FY 2023–24.
• The launch of the Kisan Rin Portal (KRP) in August 2023 has enhanced transparency, tracking, and efficiency in the claim settlement process.
• The decision to retain the 1.5% subvention rate is in line with current trends in median MCLR and repo rate movements, supporting the viability of lending by rural and cooperative banks.

Shantanu Thakur Unveils Key Infrastructure and Seafarer Welfare Projects at Deendayal Port, Kandla

• Shri Shantanu Thakur, Minister of State for Ports, Shipping and Waterways, inaugurated and laid foundation stones for multiple transformative projects at Deendayal Port Authority (DPA), Kandla, under the Maritime India Vision 2030 and the Amrit Kaal Maritime Roadmap (2047).
• These initiatives aim to modernize port operations, enhance multimodal connectivity, and prioritize seafarer welfare in line with Viksit Bharat @2047.

Key Highlights:

• Seafarer Centre Foundation Stone
  • A world-class facility comprising a waiting lounge, medical room, gym, covered swimming pool, yoga zone, salon, café, basketball court, and landscaped garden—designed to support the health, dignity, and comfort of seafarers.
• Railway Line Extension
  • 750-meter link from Berths 13–16 to Kutch Salt Junction, integrating with the upcoming Dedicated Freight Corridor (DFC) for smoother cargo evacuation and improved logistics efficiency.
• Telescopic Gangway Inauguration
  • Installation at Oil Jetty No. 7 meets OCIMF safety standards, ensuring secure, efficient vessel access for crew and port personnel.
• Fire Brigade Station Inauguration
  • New on-site Fire Brigade Station within the cargo jetty area, featuring office space, immigration facilities, and a 50 KL underground water tank to bolster emergency preparedness.

CURRENT AFFAIRS: STATE NEWS

Nagshankar Temple Recognized as Model for Turtle Conservation

• Nagshankar Temple in Biswanath district, Assam, was officially designated a model temple for turtle conservation during a special World Turtle Day event.
• This recognition highlights the temple’s exemplary efforts in protecting 13 species of freshwater turtles and engaging the local community in conservation.

Key Highlights

• World Turtle Day Celebration organized by Kaziranga National Park, Assam State Zoo, Nagshankar Temple Committee, DBT-NER Biotech Hub Chaiduar College, and NGOs Turtle Survival Alliance (TSA) Foundation India, Aaranyak, and Help Earth.
• Official Recognition: Local MLA Padma Hazarika acknowledged the temple’s role in grassroots turtle protection. A freshwater turtle ID brochure was released to educate the public.
• Cultural Significance: In Assam, turtles are revered as incarnations of Lord Vishnu, making temple ponds natural conservation sites. Nagshankar Temple exemplifies this tradition, now fortified by expert support from TSA.
• Community Engagement: ‘Kaso Mitras’ (community turtle guardians) were honored for their contributions. The women’s weavers’ group Kaso Sakhi, led by Anjali Das, highlighted turtles’ role as “ecosystem cleaners” and produced turtle-motif handloom products.

Tata Advanced Systems & Airbus to Establish India’s First Private Helicopter Assembly Plant in Karnataka

• Tata Advanced Systems Ltd (TASL) and Airbus are set to build India’s first privately-led helicopter Final Assembly Line (FAL) at Kolar district, Karnataka, marking a significant boost to the country’s aerospace manufacturing under the Make in India initiative.

Key Highlights

• Project Overview:
  • Facility will assemble Airbus’ H125 helicopters, a globally acclaimed light helicopter known for versatility in high-altitude and hot conditions.
  • India will become the fourth country worldwide to have an H125 assembly plant, joining France, the USA, and Brazil.
• Why Karnataka?
  • Established aerospace ecosystem and policy incentives.
  • Close to Bengaluru, a major aerospace and technology hub.
  • Vemgal Industrial Area in Kolar offers ready infrastructure and connectivity.
  • State government provides subsidies and capital support.
  • Presence of HAL and skilled aerospace workforce.
• Production Capacity & Usage:
  • Initial capacity: 10 H125 helicopters per year, with plans to scale up.
  • Potential uses include:
    • Tourism and VIP transport
    • Medical Emergency Services (EMS)
    • Law enforcement
    • Search and rescue
    • Utility and industrial services

Aizawl Linked to National Rail Network via 51.38 km Bairabi–Sairang Line

• Mizoram’s capital, Aizawl, has been officially connected to the Indian railway network through the Bairabi–Sairang New Line, a ₹5,021 crore project featuring 48 tunnels and a 104 m tall bridge, marking a transformative leap in Northeast connectivity.

Key Highlights:

• Fourth NE Capital on Rail: With Aizawl’s link, the only northeastern capitals now on the network are Assam, Tripura, Arunachal Pradesh, and Mizoram.
• Project Scope & Cost:
  • Total length: 51.38 km between Bairabi (Kolasib) and Sairang (20 km from Aizawl)
  • Revised sanctioned cost: ₹5,021.45 crore
• Progress to Date:
  • 94.52% physical completion
  • 97.13% financial utilization
• Segment Commissioning:
  • Bairabi–Hortoki (16.72 km): commissioned July 2024
  • Hortoki–Kawnpui (9.71 km): due June 2025
  • Kawnpui–Mualkhang (12.11 km) and Mualkhang–Sairang (12.84 km): expected by June 2025
• Engineering Feats:
  • 48 tunnelstotaling12,853 m
  • 55 major and 87 minor bridges
  • 5 ROBs and 6 RUBs
  • Bridge No. 196 stands 104 m tall, 32 m taller than Delhi’s Qutub Minar

CURRENT AFFAIRS: AWARDS AND HONOURS

Raja Kumari Wins First American Music Award for ‘Arcane: League of Legends’ Soundtrack

• Indian-American artist Raja Kumari made history by becoming the first Indian-origin musician to win an American Music Award (AMA).
• She received this honor at the 51st AMA ceremony, in Los Angeles for the “Favorite Soundtrack”

Key Highlights

• Award-Winning Track: ‘Renegade (We Never Run)’
  The powerful and genre-blending anthem featured in Arcane: League of Legends – Season 2 earned widespread acclaim. The song is a collaboration of three global artists:
  • Raja Kumari (India/US)
  • Stefflon Don (UK)
  • Jarina de Marco (Dominican Republic/Brazil)
• Cultural Significance
  The Arcane team chose Raja Kumari because the series featured an Indian character, and they wanted music that represented Indian culture with high-energy, aggressive vibes—areas Raja Kumari excels in.
• Unexpected Global Success
  Originally made for the series, ‘Renegade’ unexpectedly went viral and climbed global charts, showcasing its mass appeal.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Launches Sixth 25T BP Tug Sabal (Yard 340)

• The sixth 25T Bollard Pull (BP) Tug Sabal was launched on 27 May 2025 at M/s Titagarh Rail Systems Limited (TRSL), Kolkata.
• The launch event was attended by Commodore S Sreekumar, WPS, Kolkata, as the Chief Guest.
• The tugs are part of a contract signed on 12 November 2021 with M/s TRSL, Kolkata for the construction of six 25T BP tugs.
• These tugs are indigenously designed and built according to Naval Rules and Indian Register of Shipping (IRS)
• Four tugs have already been delivered and are in use by the Indian Navy.
• The tugs assist naval ships and submarines during berthing, un-berthing, and manoeuvring in confined waters.
• They provide afloat fire-fighting support to ships alongside or at anchorage.
• These tugs have the capability to conduct limited Search and Rescue (SAR) operations.
• The tugs represent the Make in India and Aatmanirbhar Bharat initiatives of the Government of India.

CURRENT AFFAIRS : APPS & PORTALS

Union Public Service Commission Unveils New Online Application System

• The Union Public Service Commission (UPSC) has introduced a new Online Application Portal for registration and filling up application forms online.
• The portal is divided into four parts (cards) on the homepage:

1. Account Creation
2. Universal Registration
3. Common Application Form — These three parts contain common information for all exams and can be filled anytime by candidates.
4. Examination — Contains exam-specific notices, applications, and status; to be filled only during the exam notification period.

• This new structure allows candidates to complete the first three parts anytime, enabling them to apply quickly when any UPSC exam is notified, reducing last-minute rush.
• All applicants must register and upload documents afresh on the new portal via https://upsconline.nic.in.
• The older One Time Registration (OTR) module is now discontinued and will not be applicable.
• Detailed instructions are available on the homepage and within all modules to help candidates with the application and document upload process.
• Candidates are strongly advised to use Aadhaar Card as an ID document during Universal Registration for easy and seamless verification and authentication.
• The new portal is effective from 28 May 2025.
• Applications for CDS Exam-II 2025 and NDA & NA-II 2025, scheduled to be notified on 28 May 2025, will be accepted only through the new online portal.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Axis Max Life MD & CEO Prashant Tripathy to Step Down in September

• Prashant Tripathy, the current Managing Director and Chief Executive Officer (MD & CEO) of Axis Max Life Insurance, will step down at the end of the September 2025 quarter after opting for early retirement.
• The Board of Directors will begin the succession process, subject to regulatory approvals.
• Tripathy was reappointed in September 2023 as MD & CEO for a five-year term, ending in December 2028.
• He became MD & CEO in January 2019, after Rajesh Sud resigned in September 2018.
• Tripathy joined the company in 2007 and served as MD & CEO for the last six years.
• Axis Max Life Insurance is a joint venture between Axis Bank and Max Financial Services.

Ownership structure:

• Axis Bank entities hold 19.02% stake
• Max Financial Services holds 80.98% stake

Royal Sundaram Names Vedanarayanan Seshadri as Managing Director

• Royal Sundaram General Insurance appointed Vedanarayanan Seshadri as the new Managing Director (MD), effective from 28 May 2025.
• Seshadri has over 30 years of experience in the BFSI (Banking, Financial Services, and Insurance) sector
•  
• He has spent 15 years in insurance leadership roles
• His expertise includes insurance distribution and digital transformation-enabled customer experience improvements.
• Prior to this, he was the MD of Mahindra Insurance Brokers.
• He has also held senior leadership roles at Cholamandalam MS General Insurance, TATA AIG Life Insurance, and other BFSI enterprises.

IndiGo Names Ex-IAS Officer Vikram Singh Mehta as New Chairman

• IndiGo Airlines appointed Vikram Singh Mehta as the Chairman of its Board, May 2025.
• He succeeds Venkataramani Sumantran, who served as chairman for three years and resigned after completing his five-year term as a board member.
• Venkataramani Sumantran was appointed chairman in May 2022 and helped IndiGo through a strong post-Covid recovery and growth
• Vikram Singh Mehta is a former Indian Administrative Services (IAS) officer.
• He has held key roles including:
• Chairman of the Shell Group of Companies in India
• CEO of Shell Markets and Shell Chemicals in Egypt
• Mehta has been a board member of InterGlobe Aviation Limited (IndiGo’s parent company) since 2022.

Dr. Samir V. Kamat Receives Another One-Year Extension as Secretary Defence R&D and DRDO Chairman

• The Appointments Committee of Cabinet (ACC) granted a one-year extension to Dr. Samir V. Kamat as Secretary, Department of Defence Research and Development (Defence R&D) and Chairman, Defence Research Development Organisation (DRDO).
• The extension is effective from June 1, 2025, to May 31, 2026, or until further orders, whichever is earlier.
• Kamat was first appointed to these positions in August 2022.
• He succeeded Dr. G. Satheesh Reddy as the Secretary Defence R&D and DRDO Chairman.
• The notification regarding the extension was issued by the Department of Personnel and Training (DoPT).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Intelsat Receives Government Approval for Direct Satellite Broadcast Services in India

• United States (US)-based Intelsat is among the first foreign satellite operators to receive approval from the Indian government to provide direct satellite coverage to domestic media organisations.
• The approval was granted by the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
• Intelsat has secured new business from three of India’s largest media companies following this authorisation.
• The IN-SPACe approval allows Intelsat to operate four geostationary satellites:IS-17, IS-20, IS-36, and IS-39
• These satellites offer C-band coverage across India, supporting content delivery and distribution within and beyond Indian borders.
• Intelsat’s satellite network will provide Indian broadcasters with reliable, high-quality connectivity solutions tailored to their evolving needs.
• This approval enables Intelsat to better serve its customers and contribute to the growth of India’s media landscape.

CURRENT AFFAIRS: SPORTS NEWS

Shubman Gill Becomes Oakley Brand Ambassador for “Artifacts from the Future” Campaign

• Indian Test captain Shubman Gill has been named the brand ambassador for Oakley, aligning with their new “Artifacts from the Future” eyewear campaign.
• At 25 years old, Gill adds off-field style to his on-field elegance, embodying the values of performance, innovation, and resilience.

Key Highlights

• Choice of Ambassador
  Gill’s elegant batting, composed temperament, and consistent performance across formats made him a natural fit. Oakley sought an athlete who personifies passion, progress, and peak performance.
• Ambassador’s Response
  Gill expressed enthusiasm, noting that Oakley has long been part of his cricket journey and that the brand’s commitment to innovation mirrors his own professional ambitions.
• Campaign Details
  “Artifacts from the Future” celebrates Oakley’s 50th anniversary with futuristic designs—Plantaris, Lateralis, and Masseter—that blend heritage with cutting-edge innovation. The collection launches in May 2025.
• Other Oakley Athletes
  Gill joins luminaries such as Kylian Mbappé (football), Damian Lillard (basketball), and Patrick Mahomes II (American football) in the Oakley roster of global sports icons.

Cristiano Ronaldo Reaches 800 Club Goals at Age 40

• Cristiano Ronaldo scored his 800th club goal in a Saudi Pro League match for AI Nassr against AI Fateh, a landmark achievement even in a 3–2 defeat.
• At 40 years old, Ronaldo continues to perform at the highest level, reinforcing his status as one of football’s all-time greats.

Key Highlights

• 800-Goal Milestone
  Ronaldo’s tally across five clubs now stands at:
  • Sporting CP (Portugal): 5 goals
  • Manchester United (England): 145 goals
  • Real Madrid (Spain): 450 goals
  • Juventus (Italy): 101 goals
  • AI Nassr (Saudi Arabia): 99 goals
• Comparison with Lionel Messi
  Messi’s current club total is 753 goals, trailing Ronaldo by 47.
• Saudi Pro League Top Scorer
  Ronaldo finished the 2024-25 season with 25 goals, following 35 goals in 2023-24, securing the league’s Golden Boot at 40 years of age.
• Team Performance
  AI Nassr ended third, 13 points behind champions AI Ittihad, missing out on AFC Champions League qualification despite Ronaldo’s individual success.
• Future Prospects
  Ronaldo hinted at his next move on X: “This chapter is over. The story? Still being written. Grateful to all.” His contract expires in June 2025, fueling speculation about his next destination.
• Chasing 1,000 Career Goals
  With 934 total career goals (including international), Ronaldo needs 66 more to become the first player to reach 1,000 career goals.

CURRENT AFFAIRS : OBITUARIES

Senior Akali Leader Sukhdev Singh Dhindsa Passed Away

• Sukhdev Singh Dhindsa, veteran Akali leader and former Union Minister, died on May 28, 2025, at the age of 89 due to age-related health issues in a private hospital in Mohali.
• He was a Shiromani Akali Dal Lok Sabha MP from Sangrur (2004) and served as Union Minister of Sports, Chemicals, and Fertilizers in the Atal Bihari Vajpayee government.
• Dhindsa was a Rajya Sabha MP from 1998 to 2004 and 2010 to 2022
• Born on April 9, 1936, in Ubhawal village, Sangrur district. Began political career as a student leader and later elected as sarpanch of his village.
• Elected MLA in 1972 from Dhanaula as an Independent, later from Sunam and Sangrur assembly constituencies.
• After Parkash Singh Badal, he was the senior-most leader in the Shiromani Akali Dal.
• Dhindsa was expelled twice from SAD: in February 2020 and August 2024 for raising issues against party president Sukhbir Singh Badal.
• His son Parminder Singh Dhindsa served as Finance Minister of Punjab (2012-2017) and was also expelled twice from SAD.
• Dhindsa resigned from all party positions in 2018, criticizing the sidelining of the 'taksali' (old guard)
• He founded the Shiromani Akali Dal (Democrat) in 2020 and later merged it with Shiromani Akali Dal (Sanyukt) in 2021, becoming its president.
• SAD (Sanyukt) allied with the BJP in the 2022 Punjab Assembly polls.
• In March 2024, merged SAD (Sanyukt) back with Sukhbir Badal-led Shiromani Akali Dal aiming for unity in the Panth.
• Despite the merger, he was expelled again in August 2024 for alleged anti-party activities.
• Launched a 'Shiromani Akali Dal Sudhar Lehar' with other rebel leaders to reform the 103-year-old party.
• Underwent religious punishment (tankhah) at Akal Takht in December 2024, along with others, for mistakes during the Akali regime from 2007 to 2017.
• He was Awarded the Padma Bhushan in 2019, but he later returned the award in solidarity with farmers protesting against the now-repealed three farm laws.

Daily CA One- Liner: May 30

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the increase in Minimum Support Prices (MSP) for 14 Kharif crops for the Marketing Season 2025–26 to ensure remunerative prices for farmers
• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved two major multitracking projects under the PM-Gati Shakti National Master Plan.
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the continuation of the Interest Subvention (IS) component under the Modified Interest Subvention Scheme (MISS) for the financial year 2025–26, along with necessary fund arrangements
• Nagshankar Temple in Biswanath district, Assam, was officially designated a model temple for turtle conservation, during a special World Turtle Day
• Shri Shantanu Thakur, Minister of State for Ports, Shipping and Waterways, inaugurated and laid foundation stones for multiple transformative projects at Deendayal Port Authority (DPA), Kandla, under the Maritime India Vision 2030 and the Amrit Kaal Maritime Roadmap
• Tata Advanced Systems Ltd (TASL) and Airbus are set to build India’s first privately-led helicopter Final Assembly Line (FAL) at Kolar district, Karnataka, marking a significant boost to the country’s aerospace manufacturing under the Make in India
• Mizoram’s capital, Aizawl, has been officially connected to the Indian railway network through the Bairabi–Sairang New Line, a ₹5,021 crore project featuring 48 tunnels and a 104 m tall bridge, marking a transformative leap in Northeast connectivity
• Indian-American artist Raja Kumari made history by becoming the first Indian-origin musician to win an American Music Award (AMA).
• Indian Test captain Shubman Gill has been named the brand ambassador for Oakley, aligning with their new “Artifacts from the Future” eyewear campaign
• Cristiano Ronaldo scored his 800th club goal in a Saudi Pro League match for AI Nassr against AI Fateh, a landmark achievement even in a 3–2 defeat.
• The overall goods and services exports of India are expected to reach $1 trillion during FY 2025-26, according to the Federation of Indian Export Organisations (FIEO).
• The Reserve Bank of India’s (RBI’s) directive dated May 8, 2024, mandates lenders to exclude Default Loss Guarantee (DLG) cover while making provisions for bad loans (NPA recognition and provisioning).
• Market Regulator Securities and Exchange Board of India (SEBI) is considering exempting the proposed long delta end-of-day position limits in index options specifically for structured products and market-linked debentures (MLDs).
• Union Finance Minister Smt. Nirmala Sitharaman chaired a review meeting of Public Sector General Insurance Companies (PSGICs) in New Delhi.
• India’s energy demand is expected to grow at a CAGR of 6–6.5% over the next five years (FY26 to FY30), according to ratings agency ICRA.
• India is projected to achieve a real GDP growth of 6.5% in FY26, driven by strong domestic demand and a pickup in private investment supported by lower interest rates.
• The sixth 25T Bollard Pull (BP) Tug Sabal was launched on 27 May 2025 at M/s Titagarh Rail Systems Limited (TRSL), Kolkata.
• The Union Public Service Commission (UPSC) has introduced a new Online Application Portal for registration and filling up application forms online.
• Prashant Tripathy, the current Managing Director and Chief Executive Officer (MD & CEO) of Axis Max Life Insurance, will step down at the end of the September 2025 quarter after opting for early retirement.
• Royal Sundaram General Insurance appointed Vedanarayanan Seshadri as the new Managing Director (MD), effective from 28 May 2025.
• IndiGo Airlines appointed Vikram Singh Mehta as the Chairman of its Board, May 2025.
• The Appointments Committee of Cabinet (ACC) granted a one-year extension to Dr. Samir V. Kamat as Secretary, Department of Defence Research and Development (Defence R&D) and Chairman, Defence Research Development Organisation (DRDO).
• United States (US)-based Intelsat is among the first foreign satellite operators to receive approval from the Indian government to provide direct satellite coverage to domestic media organisations.
• Sukhdev Singh Dhindsa, veteran Akali leader and former Union Minister, died on May 28, 2025, at the age of 89 due to age-related health issues in a private hospital in Mohali.