National Affairs
Governance and Politics
India Reaffirms Arunachal Pradesh Status: India strongly condemned China’s attempts to rename places in Arunachal Pradesh, calling these efforts “preposterous” and reaffirming that Arunachal Pradesh is an integral and permanent part of India.
New UPSC Chairman: Ajay Kumar, former defense secretary, has been appointed as the new chairman of the Union Public Service Commission (UPSC) following the end of Preeti Sudan’s term on April 29. President Droupadi Murmu approved his appointment.
52nd Chief Justice of India: Justice Bhushan Ramakrishna Gavai was sworn in as the 52nd Chief Justice of India by President Droupadi Murmu. He will serve until November 2025.
Monthly Employment Data: The government announced it will release monthly employment data via Periodic Labour Force Survey (PLFS) starting April 2025. The data will include separate rural, urban, and combined statistics to improve transparency.
PM Modi Chairs Security Meeting: Prime Minister Modi chaired the first Cabinet Committee meeting on security following the ceasefire in the India-Pakistan conflict after the Pahalgam attack. The meeting reviewed military talks held on May 10.
Diplomatic Developments
JNU Cancels MoU with Turkish University: Jawaharlal Nehru University has canceled its Memorandum of Understanding with Turkey’s Inonu University, citing national security concerns amid tensions over Turkey’s support to Pakistan.
Social Media Accounts Blocked: India has blocked X (formerly Twitter) accounts of Global Times, Xinhua, and TRT World for allegedly spreading Pakistani propaganda. These platforms are linked to Chinese and Turkish media.
India-US Trade Talks: India and the United States are making steady progress on a bilateral trade deal, with high-level talks scheduled in Washington. Both nations are exploring early opportunities for deeper economic cooperation. External Affairs Minister S. Jaishankar responded to US President Trump’s “zero tariff” claim, stating that trade talks are ongoing and complex.
Economic Indicators
Inflation Drops: India’s retail inflation dropped to a 69-month low of 3.16% in April, marking six consecutive months of decline. This is the lowest inflation rate after August 2019.
Wholesale Inflation: The wholesale price index (WPI) inflation fell to a 13-month low of 0.85% in April, driven by a decline in food and fuel prices.
RBI Cuts Repo Rate: The Reserve Bank of India has reduced the repo rate by 25 basis points from 6.25% to 6.00%, effective May 2025. The RBI has maintained an accommodative stance, focusing on supporting economic growth.
Trade Gap Widens: India’s trade gap widened in April 2025, though exports surged by 9% to $38.5 billion. Imports increased by 19.1% to $64.91 billion.
Development Initiatives
Semiconductor Manufacturing: The government approved a semiconductor unit near Jewar Airport under the India Semiconductor Mission. It’s a joint venture between HCL and Foxconn, expected to produce 20,000 wafers monthly with an investment of ₹3,700 crore.
Ayurveda Day Announcement: India has officially designated September 23 as Ayurveda Day, moving away from the previous observance on Dhanteras. This change aims to promote Ayurveda as a scientific and holistic healthcare system.
International Affairs
Trump in Saudi Arabia: President Donald Trump promoted business deals during his visit to Saudi Arabia, vowing US non-interference in Middle East affairs. He praised Saudi Arabia’s modernization efforts and signed economic agreements to strengthen US-Saudi ties.
US-Saudi Defense Deal: The United States signed a $142 billion arms deal with Saudi Arabia, marking the largest defense cooperation agreement in history. The deal covers air defense, maritime security, and involves multiple US defense companies.
Pakistan Diplomatic Development: Pakistan’s High Commissioner to Bangladesh, Syed Ahmed Maroof, has taken sudden leave from Dhaka, sparking widespread speculation in diplomatic circles.
US Warning on Huawei AI Chips: The US has warned global companies that using Huawei’s Ascend AI chips, made with American technology, could lead to criminal penalties under US export control laws.
Middle East Crisis: Israeli strikes have reportedly killed over 100 people as the humanitarian crisis in Gaza deepens. International allies have called Israel’s aid blockade “simply unacceptable.”
Russia-Ukraine Peace Talks: Russia-Ukraine peace talks have descended into mudslinging after Russian President Vladimir Putin failed to attend scheduled negotiations.
Canadian Political Developments:
The Bloc Québécois is challenging Terrebonne election results over a returned mail-in ballot.
Anita Anand has been appointed as Canada’s first Hindu woman Foreign Minister.
IMF-Pakistan Budget Talks: The International Monetary Fund will hold virtual discussions on Pakistan’s upcoming budget as the visit of its mission to Islamabad was delayed due to security concerns in the region.
Economy & Banking
PSB Profits Hit Record: Public Sector Banks’ profit reached a record ₹1.78 lakh crore in FY25. State Bank of India contributed over 40% of the total PSB profits, clocking a net profit of ₹70,901 crore, up 16% from the previous fiscal year.
SBI Global Ranking: State Bank of India has joined the global top 100 list in terms of net profit, becoming the third Indian firm to achieve this milestone.
SBI Fund Raising: SBI’s board will meet on May 20 to consider raising up to $3 billion through public offers or other foreign currency instruments in the financial year 2025-26 to support its international operations.
Punjab National Bank Performance: Punjab National Bank posted the highest net profit growth of 102% among PSBs, reaching ₹16,630 crore.
PayU RBI Authorization: PayU has received final authorization from the Reserve Bank of India to operate as an online Payment Aggregator. This allows the company to resume onboarding new merchants after a 15-month embargo, marking a key milestone as it prepares for its IPO in the second half of 2025.
IBC Recovery: Creditors recovered a record ₹67,000 crore via the Insolvency and Bankruptcy Code in FY25, marking a 42% jump from FY24, aided by record corporate resolutions and higher NCLT capacity.
IREDA Bankruptcy Filing: The Indian Renewable Energy Development Agency has filed a bankruptcy application against Gensol Engineering over a loan default of Rs 510 crore.
Corporate Results:
Eicher Motors announced that Royal Enfield recorded its highest-ever quarterly sales, selling 280,801 units in Q4 FY25, a 23.2% increase over the same period last year.
Balu Forge Industries reported a 123% year-on-year growth in net profit for Q4, reaching Rs 63 crore.
Brigade Enterprises reported a 20% growth in net profit for Q4 at Rs 246.8 crore.
Foreign Investment: India’s outbound FDI increased by nearly 90% annually to $6.8 billion in April, led by Tata Communications, Life Insurance Company, and JSW Neo Energy.
Rupee Update: The rupee closed at 85.55 against the dollar amid oil importer demand, while RBI bond purchases and soft crude prices supported market sentiment.
AI Sector Investment: AI firm Perplexity is closing a $500 million funding round, aiming to challenge Google’s search dominance.
Appointments & Resignations
UPSC Chairman: Ajay Kumar appointed as the new UPSC Chairman after Preeti Sudan’s term ended.
Chief Justice of India: Justice Bhushan Ramakrishna Gavai sworn in as the 52nd Chief Justice of India by President Droupadi Murmu.
Canada’s Foreign Minister: Anita Anand appointed as Canada’s first Hindu woman Foreign Minister.
Infosys Joint Venture: Infosys has completed the sale of its stake in the HIPUS joint venture with Mitsubishi Heavy Industries in Japan.
Important Days & Celebrations
Buddha Purnima: The ceremonial inauguration of Vaishakha Buddha Purnima 2025 was held at the Dr. B.R. Ambedkar International Centre in New Delhi on May 15, 2025.
Ayurveda Day: The government officially designated September 23 as Ayurveda Day, moving away from the previous Dhanteras observance.
Summits & Conferences
Cannes Film Festival: The Bharat Pavilion was officially inaugurated at the 78th Cannes Film Festival on May 15, 2025. The event was attended by dignitaries including Shekhar Kapur, acclaimed filmmaker and Festival Director of IFFI and NFDC, veteran actor Anupam Kher, and Anne-Louise Mésadieu, Paris Region elected official.
India Power Conference: Shripad Yesso Naik inaugurated and delivered the keynote address at the 6th Annual India Power Conference on May 15, 2025.
Sports News
IPL Player Availability: South African players’ availability for IPL Playoffs and the World Test Championship (WTC) Final is under scrutiny following IPL’s one-week suspension. Eight South African players are set to leave IPL by May 25 ahead of the World Test Championship Final.
Hockey Canada Trial: A former world junior teammate testified in the Hockey Canada sex assault trial.
Miscellaneous
Bird Flu Concerns:
Uttar Pradesh has closed all zoos for one week after a tigress died of bird flu in Gorakhpur Zoo.
New research shows bird flu is spreading in pet cats.
Environmental Emergency: Wildfires in Manitoba have left residents on high alert, with a state of emergency declared in Whiteshell Provincial Park.
UK Court Decision: The UK High Court rejected a fresh bail application of Nirav Modi.
Corporate Results: Several companies reported their March quarter results on May 15, including LIC Housing Finance, PB Fintech, Abbott India, Balrampur Chini Mills, CESC, Crompton Greaves Consumer Electricals, Godrej Industries, JSW Energy, and Patanjali Foods.
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