International Affairs
Israel-Gaza Conflict: Israel announced on May 19 that the first humanitarian aid trucks have entered Gaza. The country will allow “minimal aid” into the region while intensifying air and ground operations in Gaza’s second-largest city.
Former US President’s Health Crisis: Former President Joe Biden revealed on May 19 that he has been diagnosed with an aggressive form of prostate cancer. Medical experts are currently evaluating treatment options.
US Immigration Policy: Reports indicate that the Trump administration may end protected status for Venezuelan migrants in the United States, which would affect thousands of immigrants currently residing in the country.
South Korea Presidential Race: Presidential candidates in South Korea participated in their first televised debate on May 19 ahead of the snap election scheduled for June 3. The election follows the impeachment of former president Yoon Suk Yeol over his martial law declaration in December. Lee Jae-myung leads with 51% support against Kim Moon-soo’s 29%.
US Credit Rating Concerns: Economic analysts have raised warning signs following a credit rating downgrade for the United States, potentially impacting global markets and investment patterns.
US-China Trade Tensions: New tariffs on Chinese products implemented by the Trump administration are expected to significantly impact everyday consumer goods in the American market, with economists predicting price increases across multiple sectors.
National Affairs
CJI Protocol Controversy: Chief Justice of India BR Gavai expressed displeasure on May 19 over protocol lapses during his first visit to Maharashtra after taking oath as CJI on May 14. He noted the absence of the state’s Chief Secretary, Director General of Police, and Mumbai Police Commissioner at his reception.
Maharashtra Officials Apologize: Following the CJI’s comments, Maharashtra Chief Secretary, DGP, and Mumbai Police Commissioner issued formal apologies to CJI Gavai for the inadvertent protocol breach and delay at Mumbai International Airport.
Operation Sindoor Briefing: Foreign Secretary Vikram Misri briefed the Parliamentary Standing Committee on Current Foreign Policy Developments regarding Operation Sindoor and the subsequent ceasefire announcement with Pakistan. Committee Chairman Shashi Tharoor described the session as “comprehensive” and “constructive.”
Terror Plot Foiled in Hyderabad: Security forces arrested two ISIS-linked suspects, Siraj Ur Rehman (29) and Syed Sameer (28), for allegedly planning bomb blasts in Hyderabad. Explosive materials including ammonia, sulphur, and aluminium powder were seized from their homes.
Delhi Weather Alert: The India Meteorological Department (IMD) issued a yellow alert for Delhi on May 20, warning of thunderstorms accompanied by lightning and dust-raising winds. The maximum temperature is expected to remain in the range of 40-41°C.
Miss World 2025 in Hyderabad: The Miss World 2025 competition is currently underway in Hyderabad with contestants from over 110 countries participating. The grand finale is scheduled for June 1 at the HITEX Exhibition Centre.
WAVES 2025 Inauguration: Prime Minister Narendra Modi inaugurated WAVES 2025, India’s first-of-its-kind World Audio Visual and Entertainment Summit at Jio Center, highlighting the country’s growing influence in the global entertainment industry.
Crime in Patna: A businessman named Sanjay Kumar was shot while on his morning walk in Patna’s Beur police station area. The victim, who operates Swayamvar Marriage Hall, was rushed to a private nursing home with gunshot wounds to his head and chest. His condition remains critical.
Economy & Banking
Emirates NBD India Expansion: The Dubai-based Emirates NBD received in-principle approval from the Reserve Bank of India to convert its three India branches (Chennai, Gurugram, and Mumbai) into a wholly owned subsidiary to deepen domestic banking services.
SBI Interest Rate Cut: State Bank of India has slashed domestic term deposit rates by 20 basis points across tenors effective from May 16, 2025, citing improved liquidity and policy rate cuts. The highest interest rate now stands at 6.7% for 2-3 year deposits.
RBI Cancels Bank License: The Reserve Bank of India cancelled the license of Lucknow-based HCBL Co-operative Bank as the lender does not have adequate capital and earning prospects.
Banking Co-lending Norms: Bankers have indicated that RBI’s co-lending draft norms may require significant IT upgrades and clarification on the CLM 2 model to ensure compliance and operational readiness.
SMBC Investment in Yes Bank: In India’s largest cross-border banking deal, SBI and private lenders sold a 20% stake in Yes Bank to SMBC for ₹13,482 crore, valuing the bank at $7.9 billion. SMBC will become Yes Bank’s largest shareholder with likely board representation.
Public Sector Banks Performance: Public sector banks reported a combined profit of ₹1,78,364 crore during FY25, with SBI alone contributing over 40% of the total earnings.
International Relations & Trade
India-UK Trade Agreement: India and the UK agreed on a trade deal on May 6, 2025, to boost economic ties. As part of the agreement, India’s tariffs on imported whisky and gin will be halved from 150% to 75% and subsequently reduced to 40% by the tenth year. Automotive tariffs will fall from over 100% to 10% under a quota system.
India-Turkey Relations: Following Operation Sindoor, India revoked the security clearance of Turkish company Celebi Aviation, a ground handling service provider, with immediate effect. This action reportedly caused the company’s valuation to drop by one-third within two days and put approximately 3,800 jobs at risk.
Financial Markets
Gold Prices: The price of 24k gold in India stood at ₹95,510 per 10 grams on May 19, 2025, showing a slight increase from ₹95,130 the previous day. The price of 22k gold was recorded at ₹87,550 per 10 grams.
Silver Prices: Silver prices in India reached ₹98,100 per kg on May 20, 2025, showing a marginal increase of ₹100 from ₹98,000 per kg on May 19, 2025.
Q4 Corporate Results: Several companies announced their fourth-quarter results on May 19, including Karur Vysya Bank (KVB) and NLC, which posted gains. DLF reported a 39% increase in net profit, while Delhivery and BLS stocks rallied. Zen Technologies hit the upper circuit, while Heritage Foods fell by 5%.
Appointments & Committees
New CJI: BR Gavai was sworn in as the Chief Justice of India on May 14, 2025. His first visit to Maharashtra after taking oath was on May 19, where he launched a book chronicling 50 landmark judgments pronounced by him.
Important Days & Events
Miss World 2025: The Miss World 2025 competition officially commenced in Hyderabad with over 110 participants from around the world. The event was inaugurated by Telangana Chief Minister A Revanth Reddy, Miss World Limited Chairperson Julia Morley CBE, and reigning Miss World Krystyna Pyszková.
