National Affairs – 24.05.2025
Prime Minister and Government Updates
NITI Aayog Governing Council Meeting: Prime Minister Narendra Modi chaired the 10th Governing Council meeting of NITI Aayog in New Delhi, focusing on the strategy for Viksit Bharat 2047
Key Agenda Items: The meeting discussed industrial development, social inclusion, environmental sustainability, and digital governance initiatives
State Participation: All state Chief Ministers and Lieutenant Governors of Union Territories participated in this crucial policy-making session
Bihar CM Participation: Notably, Bihar Chief Minister Nitish Kumar attended the meeting after being absent from several previous sessions
Himachal Pradesh CM Meeting: Chief Minister Sukhvinder Singh Sukhu met Prime Minister Modi in New Delhi for official discussions
Political Developments
Rahul Gandhi’s Poonch Visit: Congress MP and Leader of Opposition Rahul Gandhi visited Poonch to meet families affected by Pakistani attacks and drone strikes
Support Mission: This marked Gandhi’s second visit to Jammu and Kashmir following the Pahalgam terrorist attack, demonstrating solidarity with affected families
Congress Jai Hind Sabha: The party launched nationwide “Jai Hind Sabha” events from 24th May to 31st May to honor the valor of armed forces
Multi-city Campaign: The first phase covers 16 selected cities with participation from former military officers, national award winners, and social workers
Regional Development Initiatives
Rising Northeast Investors Summit 2025: The two-day summit continued in New Delhi, showcasing investment potential of eight northeastern states
Minister’s Vision: Union Minister Jayant Chaudhary emphasized that Northeast India is no longer peripheral but has become the epicenter of India’s development journey
Skills and Entrepreneurship: The summit highlighted education-to-entrepreneurship pathways and AI readiness programs for the region
Success Stories: Featured entrepreneurs like Bhabhendra Mohan Borgohain from Assam with tea processing initiatives and Merina Lahiri leading sustainable Eri Silk production
Banking and Financial Sector News
Strategic Partnerships
IPPB-Aditya Birla Capital Alliance: India Post Payments Bank announced a strategic partnership with Aditya Birla Capital Limited to expand loan accessibility across India
Service Portfolio: The collaboration offers personal loans, business loans, and loans against property through IPPB’s extensive network
Digital Integration: Advanced AI and data analytics will enable quick approvals, minimal documentation, and efficient loan disbursement
Rural Reach: IPPB operates through approximately 1,65,000 post offices, including 1,40,000 in rural areas, serving 11 crore customers
Monetary Policy Updates
RBI Economic Capital Framework: The Reserve Bank revised its Economic Capital Framework following internal review, effective from FY 2024-25
Framework Enhancement: Key improvements include greater flexibility, risk sensitivity, and prudence in financial provisioning
GDP Growth Projection: RBI maintains 6.5% real GDP growth forecast for 2025-26 with quarterly projections of 6.5%, 6.7%, 6.6%, and 6.3%
Policy Repo Rate: Current rate stands at 6% following the recent 25 basis points reduction by the Monetary Policy Committee
Stock Market Performance
Market Rebounds
Nifty 50 Recovery: The index gained 0.99% to close around 24,447 points, recovering from previous session’s weakness
Sensex Surge: BSE Sensex rebounded sharply with a gain of 769 points (0.79%), demonstrating broad-based market recovery
Sectoral Performance: Financial stocks led the rally with HDFC Life (+3.28%), Power Grid (+2.46%), and ITC (+2.32%) among top gainers
Banking Sector: Private sector banks showed strong performance with Axis Bank (+1.72%) and Kotak Mahindra Bank (+1.70%) leading advances
Sports Updates
Cricket Developments
IPL 2025 Playoffs: Delhi Capitals defeated Punjab Kings by 6 wickets in their final league match, with Sameer Rizvi scoring an unbeaten 58 off 25 balls
Team Announcements: BCCI was scheduled to announce India’s new Test captain and squad for the England tour
Ticket Sales: IPL 2025 Playoff ticket sales commenced with RuPay cardholders receiving priority access for Qualifier 2 and Final matches
Franchise Predictions: Former India captain Dilip Vengsarkar predicted either Royal Challengers Bengaluru or Punjab Kings would win their maiden IPL title
International Sports
ISSF Junior World Cup: Indian shooter Raiza Dhillon won silver in women’s skeet event, contributing to India topping the medal tally
Shooting Excellence: The victory included performance with 51 targets in the final, alongside Kanak’s gold in 10m air pistol
Badminton Success: Kidambi Srikanth advanced to Malaysia Masters semifinals, showcasing India’s strength in international competitions
Athletics Participation: Olympic javelin champion Neeraj Chopra was set to compete in Poland’s Janusz Kusocinski Memorial event
Economic and Business Developments
Investment Initiatives
Foxconn Tamil Nadu Investment: The company committed $1.5 billion for a new display module plant in Tamil Nadu despite trade policy discussions
Northeast Investment: Mukesh Ambani pledged ₹75,000 crore for Northeast development, focusing on 5G, AI, biogas, healthcare, and sports infrastructure
Trade Relations: India and US negotiations continue for an interim deal by July 8 to prevent 26% tariff on Indian domestic goods
Government Contracts: India announced plans to open $50 billion worth of government contracts to US firms, expanding foreign market access
Technology and Innovation
AI Developments
Regional Language AI: Assam introduced ‘Ankita’, India’s first AI news anchor capable of delivering official updates in Assamese
E-governance Enhancement: The AI anchor aims to improve government communication and ensure consistent regional-language updates
Digital Transformation: This innovation represents a significant step in incorporating AI technology for governance transparency
Infrastructure Projects
Power Sector Reforms: Regional Power Conference emphasized smart meters, green energy adoption, and cyber-secure grid development
Transmission Networks: Focus on inter-state and intra-state transmission infrastructure using competitive bidding mechanisms
Energy Storage: Promotion of renewable energy storage solutions for grid stability and sustainable power supply
International Affairs
Global Political Developments
US Government Actions: Trump administration blocked Harvard from enrolling international students over visa program violations
Bangladesh Political Crisis: Interim Prime Minister warned of resignation if political parties fail to agree on crucial reforms
DR Congo Legal Action: Former Prime Minister sentenced to 10 years forced labor for embezzling $245 million in public funds
UK Territorial Transfer: Britain transferred sovereignty of Chagos Islands to Mauritius while leasing back military base for 99 years
Economic Relations
Iran-US Nuclear Talks: Both countries resumed discussions in Rome regarding uranium enrichment and economic sanctions
IMF Pakistan Funding: International Monetary Fund confirmed unanimous decision to fund Pakistan, with India abstaining due to concerns over fund misuse
Trade Policy Changes: Trump warned Apple of 25% tariff on iPhones not manufactured in the United States
Fuel and Commodity Updates
Diesel Price Movements
Maharashtra Rates: Diesel traded at an average price of ₹91.33 with no change recorded since May 23, 2025
Monthly Trends: Prices showed overall rising trend with 2.27% increase from May beginning
Regional Variations: Pune diesel price stood at ₹90.35 per liter, showing state-wise price fluctuations
National Range: Itanagar recorded lowest diesel price while Hyderabad maintained highest rates across Indian cities
