National Affairs
UK-India Free Trade Agreement Signed: Prime Minister Narendra Modi spoke with the UK Prime Minister on 06.05.2025, celebrating the landmark UK-India Free Trade Agreement announced yesterday. This agreement is expected to add billions to both economies and is the biggest trade deal the UK has secured since leaving the EU.
Moody’s Cuts India’s Growth Forecast: Moody’s Ratings has revised India’s growth forecast downward to 6.3% for 2025 from the previous estimate of 6.7%. The rating agency cited geopolitical stresses, including India-Pakistan tensions, as potential downside risks.
Global Space Exploration Summit Preparation: Union Minister Dr. Jitendra Singh is set to inaugurate the Global Space Exploration Conference (GLEX 2025) scheduled from 7th to 9th May in New Delhi. The summit themed “Reaching New Worlds: A Space Exploration Renaissance” will witness participation from over 1800 attendees, including 233 international delegates from 36 countries.
PM Modi Addresses ABP Network’s Summit: Prime Minister Narendra Modi addressed the ‘India at 2047’ Summit organized by ABP Network on 06.05.2025, focusing on India’s long-term vision and development roadmap.
Employment Fair Launched: A nationwide employment fair was inaugurated, aimed at providing job opportunities to youth with participation from several renowned companies.
Court Hearing in Neha Singh Rathore Case: The district court of Ayodhya, Uttar Pradesh, is scheduled to deliver a verdict in the case against folk singer Neha Singh Rathore regarding her statements on the Pahalgam terror attack.
IMD Issues Weather Alert: The India Meteorological Department has issued orange alerts for thunderstorms and gusty winds across Northwest and South India. States including Punjab, Haryana, Uttar Pradesh, Rajasthan, Gujarat, Uttarakhand, Karnataka, Bihar, Chhattisgarh, and Madhya Pradesh are expected to experience varying intensities of rainfall and storms throughout the week.
International Affairs
India-Pakistan Tensions: The UN Security Council is set to hold closed-door consultations on rising tensions between India and Pakistan following the recent Pahalgam terror attack, after Pakistan requested an emergency meeting.
Russian President Condemns Pahalgam Attack: Russian President Vladimir Putin called PM Modi to condemn the April 22 Pahalgam terror attack and offered complete support in India’s fight against terrorism.
Trump Imposes Tariff on Foreign Films: US President Donald Trump has announced a 100% tariff on overseas films, citing the decline of the American movie industry and retaliation to China’s restrictions on Hollywood releases.
Iranian Foreign Minister Visits Pakistan: Iranian Foreign Minister Abbas Araghchi visited Pakistan to strengthen bilateral ties and offered Iran’s mediation in easing India-Pakistan tensions following the Pahalgam terror attack.
Berkshire Hathaway Announces Succession Plan: Berkshire Hathaway has named Greg Abel as the next CEO, marking Warren Buffett’s transition after 60 years at the helm. Buffett will remain as chairman during the transition.
Economy and Banking
RBI’s Recent Repo Rate Cut: On April 9, 2025, the Reserve Bank of India reduced the repo rate by 25 basis points to 6%, marking the second consecutive cut under Governor Sanjay Malhotra. The policy stance has been changed from ‘neutral’ to ‘accommodative’, indicating potential further rate cuts.
Best Performing Bank Stocks: As of May 2025, Indian Bank leads the banking sector performance with a 5-year CAGR of 65.42%, followed by Karur Vysya Bank (51.6%) and Jammu and Kashmir Bank (47.39%). Public sector banks have shown notable improvement in profitability and asset quality.
Banking Sector Improvement: India’s banking sector has demonstrated consistent improvement with steady credit growth, stronger profitability, and enhanced asset quality. Net non-performing assets (NPAs) of rural financial institutions declined from 3.2% in FY23 to 2.4% in FY24.
EU-India WTO Talks: The European Union has expressed willingness to restart WTO talks with India on technology import tariffs if both sides agree to an amicable settlement.
MCA and IBBI Review Supreme Court Ruling: The Ministry of Corporate Affairs and Insolvency and Bankruptcy Board of India are reviewing the Supreme Court ruling on Bhushan Power to evaluate its impact on Insolvency and Bankruptcy Code processes.
Sports
IPL 2025 Update: The 56th match of IPL 2025 between Mumbai Indians and Gujarat Titans was scheduled to be played at Mumbai’s Wankhede Stadium at 7:30 PM. Mumbai Indians captained by Hardik Pandya faced Gujarat Titans led by Shubman Gill.
Khelo India Youth Games 2025: Tamil Nadu defeated Bihar 2-1 in girls’ football at the Khelo India Youth Games. Bihar claimed victory in the girls’ Gatka event, while Assam, Punjab, Jharkhand, and Tamil Nadu secured victories in various team events.
French League Update: Marseille’s 1-1 draw with Lille has kept the Champions League race open in France. Paris Saint-Germain has already been crowned the champion.
Harry Kane Ends Title Drought: Harry Kane has ended his title drought by winning the Bundesliga with Bayern Munich and is now eyeing the top scorer record.
Real Madrid Maintains Pressure: Real Madrid secured a narrow 3-2 win over Celta Vigo with Kylian Mbappé scoring twice, maintaining pressure on Barcelona ahead of their crucial Clasico.
Science and Technology
Indian Scientists Develop Climate-Smart Rice: Indian scientists have created two new climate-smart rice varieties using genome editing technology. These varieties yield 25% more produce while using less water, making them suitable for changing environmental conditions.
NCERT Introduces Traditional Games: The National Council of Educational Research and Training is introducing traditional Indian games in Class 7 textbooks as part of revised NEP 2020 curriculum to promote culturally rooted content.
Appointments and Honors
Miss World Event Preparations: Contestants from 120 countries have begun arriving in Hyderabad for the Miss World pageant scheduled to be held in Telangana this month.
Important Days
May 6, 2025 – International No Diet Day and World Asthma Day: International No Diet Day promotes body acceptance and raises awareness about eating disorders, while World Asthma Day (observed on the first Tuesday of May) spreads awareness about asthma management and treatment.
May 7, 2025 – World Athletics Day: Initiated by the International Association of Athletics Federations, this day promotes participation in athletics, especially among youth.
Summits and Conferences
WAVES 2025 Panel Discussion: A panel discussion at the World Audio Visual and Entertainment Summit (WAVES 2025) explored strategies to promote India’s indigenous sports globally, with the Odisha Chief Minister delivering the keynote address.
State-Specific News
Waqf Amendment Act 2025: Union Minister Pabitra Margherita clarified during a workshop in Aizawl that the Waqf Amendment Act 2025 aims to ensure transparency and better governance of Waqf properties.
Tamil Nadu Nationalizes Literary Works: Tamil Nadu has nationalized works of five Tamil scholars, with Chief Minister M.K. Stalin honoring poets during the Tamil Week valedictory function on May 5.
That’s all for today’s update! Stay tuned for more comprehensive current affairs and GK updates to boost your preparation for competitive examinations. Remember, consistent revision is the key to success!
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