National Affairs
Fourteen arrested for espionage: NIA and Intelligence Bureau arrested fourteen people across North India for leaking sensitive information to Pakistan. Four were caught in the last 24 hours, with investigations focusing on Pakistan links.
New OCI Portal launched: Union Home Minister Amit Shah launched a revamped Overseas Citizen of India (OCI) Portal in New Delhi to enhance digital services for OCI cardholders and simplify application processes.
WHO recognition for India: India received World Health Organization certification for eliminating Trachoma as a public health problem during the 78th World Health Assembly in Geneva, marking a significant healthcare achievement.
Madrasa Act amendment planned: Uttar Pradesh government announced plans to amend the Madrasa Education Act to make Hindi and English compulsory subjects up to Class 10, aiming to align madrasas with mainstream education.
Early monsoon forecast: Indian Meteorological Department predicted an early onset of Southwest Monsoon over Kerala before May 27, ahead of the usual June 1 date, with countrywide coverage expected by mid-July.
Beating Retreat Ceremony resumes: The ceremony returned at Attari, Hussainiwala, and Sadqi border posts after a 12-day suspension. Public attendance is now allowed after an earlier suspension following India’s cross-border anti-terror operation.
CERT-In SAMVAAD 2025: The three-day cybersecurity conference opened in Mahabalipuram, Tamil Nadu, gathering over 300 experts to strengthen India’s audit and security ecosystem.
‘Indira Saura Giri Jala Vikasam’ scheme: Telangana Chief Minister Revanth Reddy launched this initiative in Nagarkurnool district to provide irrigation using solar-powered borewells in tribal lands without electricity, covering 6 lakh acres of land held by ST farmers.
Nuclear scientist passes away: Veteran nuclear scientist M.R. Srinivasan, a Padma Vibhushan awardee and former Atomic Energy Commission Chairman, passed away at 95. He played a crucial role in shaping India’s nuclear program.
International Affairs
Trump-Putin call on Ukraine: US President Trump and Russian President Putin held a two-hour phone call, after which Putin agreed to work with Ukraine on a peace memorandum. However, their statements differed on the timeline for a ceasefire.
New sanctions on Russia: The European Union and UK imposed fresh sanctions targeting Russia’s “shadow fleet” of 189 ships illicitly transporting oil to circumvent Western restrictions. The EU has now targeted almost 350 ships in total.
Chinese landings on Taiwan: Taiwan’s coast guard documented five cases totaling 38 Chinese citizens crossing the Taiwan Strait in small boats, raising security concerns. One case involved a man planting a Chinese flag on what he claimed was a Taiwanese beach.
Taiwan on US tariffs: Taiwan’s President described US tariffs as “friendly friction” during ongoing trade negotiations, maintaining optimism despite Trump imposing a 32% tariff on Taiwanese goods.
Britain-EU post-Brexit deal: The United Kingdom and European Union agreed on a new deal to restore closer ties post-Brexit, focusing on trade and security cooperation.
Banking & Finance
Emirates NBD Bank approval: The Reserve Bank of India granted “in-principle” approval to Emirates NBD Bank PJSC to establish a wholly owned subsidiary in India under the “Scheme for Setting up of WOS by foreign banks in India.”
SBI reduces deposit rates: State Bank of India cut fixed deposit interest rates by 0.2% across all tenors effective May 16, 2025. The maximum interest rate for deposits with 2-3 years term will be 6.7%, while 5-10 year deposits will earn 6.30% for the general public.
Import policy update: The Directorate General of Foreign Trade updated India’s import policy to align with Budget 2025 changes, particularly for precious metals. New Harmonised System codes were introduced for gold dore, silver dore, and platinum with at least 99% purity.
AIF investment guidelines: RBI proposed revised rules capping regulated entities’ investments in Alternative Investment Funds at 15% of a scheme’s corpus. Single RE contributions would be limited to 10%, with investments up to 5% facing no additional restrictions.
Bancassurance partnership: SBM Bank India and ICICI Prudential Life Insurance Company entered into a bancassurance partnership to expand insurance distribution.
SEBI tightens MII audit norms: Securities and Exchange Board of India standardized the internal audit mechanism for Market Infrastructure Institutions to strengthen governance.
Treasury bond yield spike: The 30-year Treasury bond yield reached 5.02%, its highest level this year, rising by 13 basis points in the biggest one-day increase in over six months.
Appointments & Resignations
HCL Technologies appointment: Kiran Cherukuri has been appointed as the Global GCC Practice Leader at HCL Technologies.
IDBI Bank board change: Raj Kumar, the LIC Nominee Director, ceased to hold his position on the Board of IDBI Bank effective May 18, 2025.
Sports
Khelo India Beach Games: Union Sports Minister Mansukh Mandaviya inaugurated the first edition of Khelo India Beach Games at Ghoghla Beach in Diu, highlighting the government’s focus on expanding sports opportunities.
ICC Champions Trophy reward: BCCI announced a ₹58 crore cash reward for Team India after their ICC Champions Trophy 2025 win, covering players, coaches, and selectors. This marks India’s second ICC title after the 2024 T20 World Cup.
Manchester City squad decisions: Pep Guardiola will decide Jack Grealish’s future at Manchester City after the season concludes, following limited playing time and FA Cup benching.
Chess exhibition match: Magnus Carlsen drew an online match against 1.4 lakh chess enthusiasts in a vote-based game that lasted over a month, ending in a perpetual check.
IPL player management: Former cricketer Kris Srikkanth recommended that Lucknow Super Giants rest Rishabh Pant, acquired for ₹27 crore, following the team’s playoff exit, citing recovery concerns.
Government Schemes & Initiatives
GeM milestone: Government e-Marketplace celebrated its 8th Incorporation Day on May 19, 2025, marking its growth as India’s digital public procurement portal.
Viksit Krishi Sankalp Abhiyan: Tripura government launched this agricultural initiative to run from May 29 to June 12, 2025, as part of a central program led by the Union Ministry of Agriculture.
MGNREGS fund allocation: Tamil Nadu emerged as the largest recipient of funds under the Mahatma Gandhi National Rural Employment Guarantee Scheme in the current fiscal year, followed by Uttar Pradesh and Bihar.
CIAL 2.0 project: Kerala Chief Minister Pinarayi Vijayan inaugurated the ₹200 crore project aimed at fully digitizing operations at Cochin International Airport, focusing on artificial intelligence and automation.
Uber-ONDC integration: Uber added Delhi Metro ticket booking functionality within its app, powered by the Open Network for Digital Commerce.
Operation Olivia 2025: The Indian Coast Guard successfully protected a record 6.98 lakh Olive Ridley turtles nesting at the Odisha coast through this annual marine conservation initiative.
Weather Updates
Yellow Alert for Mumbai: IMD issued a yellow alert for Mumbai, Thane, and Raigad, forecasting thunderstorms, lightning, moderate rain, and gusty winds.
Southern states rainfall: Heavy rain expected in isolated areas of Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, and Telangana due to a cyclonic circulation over the Arabian Sea.
Bengaluru flooding risk: Bengaluru faces a yellow alert for heavy rainfall until May 22, after receiving 105.5 mm of rain on May 19, the second-highest May rainfall since 2011.
Weather contrast across India: Southern and northeastern states face heavy rainfall and thunderstorms until May 24, while northern and central India experience severe heatwaves with temperatures above 45°C.
Business & Economy
PUMA India partnerships: PUMA India strengthened its presence in running events by partnering as the Official Sportswear Sponsor for Mumbai Half Marathon and Wipro Bengaluru Marathon.
Gold import restrictions: India tightened rules on gold and silver imports, restricting entry to nominated agencies, qualified jewellers, and valid TRQ holders under India-UAE CEPA.
6GHz spectrum proposal: India proposed licence-free use of 6GHz spectrum, which would enable faster WiFi and support devices like Sony PlayStation Pro and Apple and Meta virtual reality gear.
Finance Commission timeline: The Sixteenth Finance Commission, chaired by Dr. Arvind Panagariya, will submit its final report by October 31, 2025, with a focus on challenges faced by hill states.
