Today’s current affairs update brings you the most important events that occurred on 20.05.2025, essential for banking and other competitive examinations in India. Stay ahead in your preparation with this comprehensive point-wise compilation.
National News
Immigration Verification Drive: The Ministry of Home Affairs (MHA) has set a 30-day deadline for states and Union Territories to verify credentials of persons suspected to be illegal immigrants from Bangladesh and Myanmar who claim to be Indian citizens.
Meghalaya’s Anti-Immigration Drive: The Meghalaya government has instructed deputy commissioners of all districts to crack down on illegal immigrants, particularly Bangladeshis and Rohingya people, as part of the state’s implementation of the Meghalaya Residents Safety and Security Act.
Jaishankar’s European Tour: External Affairs Minister S. Jaishankar concluded a successful two-day visit to the Netherlands (May 19-20) where he met with Dutch Prime Minister Dick Schoof and Foreign Minister Caspar Veldkamp. He will continue his tour to Denmark and Germany until May 24.
Commemorative Stamp Release: The Department of Posts released a special postal stamp to mark the 125th anniversary of the Kodaikanal Solar Observatory, which was established on April 1, 1899, and has one of the longest continuous daily records of the sun.
Weather Alert: Heavy rainfall has caused significant water-logging in parts of Bengaluru, including BMTC and Shanti Nagar areas. Maharashtra is under a heavy rainfall alert from May 21-24, with Navi Mumbai already experiencing rainfall.
International News
Gaza Conflict: International pressure continues to mount on the Israeli government over its war on Hamas in Gaza, with critics claiming it has evolved into an unconstrained attack on civilians. UNICEF has issued warnings about deteriorating humanitarian conditions.
India-Pakistan Relations: Following Operation Sindoor (which began on May 7), India plans to submit new evidence to the Financial Action Task Force (FATF) regarding Pakistan’s terror links. Pakistan’s Foreign Minister Bilawal Bhutto is set to lead peace talks.
US-Russia Talks: Former US President Trump engaged in talks with Russian President Putin regarding the Russia-Ukraine conflict, with US Vice President Vance reportedly stating “It’s not our war” while questioning Putin about peace prospects.
IMF Warning to Pakistan: The International Monetary Fund has warned Pakistan that ongoing tensions with India could “heighten risks to the scheme’s fiscal, external, and reform goals” related to its $2.4 billion bailout program.
Portugal Elections: Portugal’s center-right Democratic Alliance won the early election but failed to secure a majority. The Socialists and far-right Chega party finished nearly tied for second place.
Banking & Finance News
SBI Rate Cut: State Bank of India has reduced fixed deposit rates by 20 basis points across all tenors effective from May 16, 2025, citing improved liquidity. The highest interest rate now stands at 6.7% for 2-3 year deposits.
Emirates NBD’s India Expansion: Emirates NBD Bank has received in-principle approval from the Reserve Bank of India to convert its three India branches (in Chennai, Gurugram, and Mumbai) into a wholly-owned subsidiary to deepen its domestic banking services.
Banking License Cancellation: The RBI has cancelled the license of Lucknow-based HCBL Co-operative Bank as the lender does not have adequate capital and earning prospects.
Yes Bank Strategic Investment: Moody’s Ratings has termed Japan-based Sumitomo Mitsui Banking Corporation’s (SMBC) 20% stake acquisition in Yes Bank as “credit positive,” noting it brings a long-term strategic partner with strong balance sheet and funding capacity.
IndusInd Bank Issues: The woes at IndusInd Bank have put the spotlight back on a key initiative by the RBI’s Enforcement Department. Brokerages have lowered FY25 and FY26 estimates after an audit revealed ₹674 crore in income misreporting and ₹595 crore in unsubstantiated balances.
Sports News
SAFF Championship: India U19 successfully defended their SAFF Championship title by defeating Bangladesh 4-3 on penalties after the match ended 1-1 in regulation time at Golden Jubilee Stadium.
IPL 2025 Update: Rajasthan Royals defeated Chennai Super Kings by 6 wickets in Match 62 of IPL 2025. MS Dhoni hit his 350th six in T20s during the match.
BCCI’s Asia Cup Decision: The Board of Control for Cricket in India (BCCI) is considering skipping the Asia Cup to isolate Pakistan amid rising border tensions, potentially impacting future multi-nation cricket events involving both countries.
Shreyas Iyer’s Comeback: Cricketer Shreyas Iyer has made a remarkable comeback after losing his BCCI contract, winning IPL 2024, leading Mumbai to a domestic title, and excelling in India’s Champions Trophy victory in Dubai.
Shooting League of India: The National Rifle Association of India (NRAI) has welcomed foreign investment in the Shooting League of India, with the inaugural edition scheduled from November 20 to December 2, 2025.
Science & Technology News
ISRO Probe Committee: The Indian Space Research Organisation (ISRO) will form a high-level Failure Analysis Committee to investigate the anomaly that led to the failure of the Earth Observation Satellite (EOS-09) mission due to technical issues during the third stage of the launch.
China’s Space Supercomputer: China has launched the first 12 satellites of an ambitious 2,800-satellite orbital supercomputer network. Each satellite contains an AI model with 8 billion parameters and can execute 744 trillion operations per second, with the satellites able to communicate with each other at speeds up to 100 Gbps through laser technology.
PSLV Failure Investigation: ISRO Chairman V Narayanan confirmed that the EOS-09 mission failed due to an anomaly during the functioning of the third stage of the PSLV-C61 rocket, which uses a solid rocket motor to deliver thrust after exiting the atmosphere.
Business & Economy News
Reliance Power’s Bhutan Project: Reliance Power has partnered with Bhutan’s Druk Holding Investments (DHI) to build a 500 MW solar power project with an investment of up to ₹2,000 crore ($234 million), marking Bhutan’s largest foreign investment in the solar sector.
Global Manufacturing Shift: Global smartphone production continues its trend of moving out of China, potentially impacting international supply chains and manufacturing ecosystems.
IMF Loan to Pakistan: The IMF approved the immediate disbursement of about $1 billion to Pakistan under the ongoing Extended Fund Facility on May 9, despite India’s opposition citing concerns about potential misuse for financing cross-border terrorism.
Appointments & Resignations
PSB & IOB Leadership: Punjab & Sind Bank and Indian Overseas Bank chiefs are likely to get extended tenures soon, with a final notification expected shortly. Both Managing Directors reportedly have two years of service left.
Defence News
Operation Sindoor Follow-up: After the brief India-Pakistan conflict (Operation Sindoor) that began on May 7 and ended with a ceasefire on May 10, the Indian Army has reportedly fortified the Line of Control with advanced weaponry and surveillance systems.
Defence Allocation: Pakistan’s defence allocation for the upcoming fiscal year stands at PKR 2.414 trillion, reflecting a 12% increase over the previous year, following recent escalations with India.
