Home » Daily Current Affairs and GK Update – 23.05.2025

Daily Current Affairs and GK Update – 23.05.2025

Todays current affairs

National News

Prime Minister’s Activities and Announcements

  • PM Narendra Modi inaugurated 103 modernized railway stations across 18 states under the Amrit Bharat Station Scheme worth ₹1,100 crore on 22.05.2025

  • The Prime Minister flagged off the Bikaner-Mumbai Express train from Deshnoke Railway Station in Rajasthan

  • PM Modi laid the foundation stone for railway electrification and roadway development projects worth ₹26,000 crore extending up to the Indo-Pak border

  • During his Bikaner rally, PM Modi made strong statements about Operation Sindoor, claiming India destroyed nine terrorist camps in Pakistan within 22 minutes in response to the Pahalgam attack

  • The Prime Minister emphasized that India conducted precision strikes against Pakistani air defense systems under the principle of “equal intensity in the same domain”

  • PM Modi visited Karni Mata Temple in Deshnoke and interacted with school students at the newly revamped railway station

Supreme Court and Legal Developments

  • The Supreme Court reserved its judgment on pleas challenging the Waqf Amendment Act 2025

  • Chief Justice B R Gavai and Justice Augustine George Masih heard arguments from senior advocates opposing the amended waqf law

  • The court examined three key issues including the power to denotify properties declared as waqf by courts, user, or deed

  • Supreme Court mandated minimum three years of legal practice for entry-level judicial posts like Civil Judge (Junior Division)

  • The apex court expressed strong displeasure over Allahabad High Court’s 27 adjournments in a bail case

Political and Regional Updates

  • Congress leader Rahul Gandhi scheduled to visit Poonch, J&K to meet families affected by Pakistani firing and drone attacks

  • Samajwadi Party chief Akhilesh Yadav criticized UP government’s announcement of 1.93 lakh teacher recruitments as a political gimmick

  • Delhi witnessed hailstorm damage to 200 national flags, prompting government action for replacement

  • Four minors drowned in Munak canal in outer North Delhi while swimming

Economic and Financial News

  • Reserve Bank of India sold $34.5 billion on net basis in FY25, highest since the 2008 global financial crisis

  • RBI’s forward book decreased to $84.34 billion in March 2025 from $88.75 billion in February

  • The central bank is expected to transfer a record surplus of ₹2.5-3 trillion to the government for FY25

  • Indian rupee depreciated by 2.4% in FY25, reaching a low of 87.95 per dollar in February

  • RBI reduced repo rate by 25 basis points to 6.00% in April 2025, marking the second cut in 2025

Infrastructure and Development

  • Corbett Tiger Reserve placed on high alert due to Canine Distemper virus outbreak in dogs

  • Uttarakhand authorities taking special precautions in Ramnagar area to prevent wildlife infection

  • Intelligence agencies tracking two Maoist operatives in Chhattisgarh

  • Ministry of Home Affairs sanctioned 296 CISF personnel posts for Bhakhra Dam project security

State-Specific News

  • Mizoram officially declared as India’s first fully literate state with 98.20% literacy rate

  • Door-to-door survey identified 3,026 non-literate persons with 1,692 actively participating in learning programs

  • Bihar Assembly elections scheduled within six months, political parties strategizing over Waqf law impact

  • Mentha oil factory fire in Badaun, UP caused nitrogen cylinder explosions forcing residents to evacuate

Market Updates

  • Gold prices in Indore decreased by ₹300 per 10 grams to ₹96,700

  • Silver rates dropped by ₹200 per kilogram to ₹98,200

  • Silver coins priced at ₹1,150 per piece in local markets

International News

Diplomatic Developments

  • US President Donald Trump claimed he resolved India-Pakistan conflict through trade during meeting with South African President Cyril Ramaphosa

  • Trump stated in Oval Office that the entire matter between Pakistan and India has been settled through trade mechanisms

  • South African President Ramaphosa’s visit to US aimed to strengthen bilateral relations and address economic cooperation

  • France pledged support for South Africa following President Ramaphosa’s Washington DC visit

Economic and Financial Updates

  • G7 Finance Ministers and Central Bank Governors met in Banff, Canada from 20-22 May 2025

  • Meeting focused on global economic situation, financial stability, and non-bank financial intermediaries

  • Discussions included cross-border payments enhancement and cyber risk mitigation in financial systems

  • US 30-year mortgage rates increased to 6.92%, highest in three months due to rising Treasury yields

  • Japan’s core machinery orders rose 13% to ¥1.01 trillion in March 2025, reaching two-decade high

Technology and Defense

  • Trump unveiled $175 billion ‘Golden Dome’ space-based missile defense system

  • The system aims to create multi-layered shield against hypersonic and space-launched threats

  • Project integrates terrestrial assets like THAAD, Patriot, and Aegis with orbital interceptors

  • Golden Dome expected to be operational by 2029 despite concerns over cost and feasibility

Global Events

  • World Hydrogen Summit 2025 held in Rotterdam, Netherlands from 20-22 May

  • India’s Ministry of New and Renewable Energy showcased green hydrogen plans targeting 5 MMT production by 2030

  • International Tea Day Convention 2025 celebrated in New Delhi emphasizing Indian tea industry growth

  • International Day for Biological Diversity observed on 22 May 2025 focusing on nature conservation

Sports News

Cricket Updates

  • Lucknow Super Giants defeated Gujarat Titans by 33 runs in IPL 2025 at Narendra Modi Stadium, Ahmedabad

  • Mitchell Marsh scored a century while Nicholas Pooran contributed fifty runs for LSG’s total of 235

  • Gujarat Titans restricted to 202/9 despite Shahrukh Khan’s half-century and contributions from Shubman Gill and Jos Buttler

  • Will O’Rourke starred with three-wicket haul for Lucknow Super Giants

Football Achievements

  • Tottenham Hotspur won UEFA Europa League 2025 Final against Manchester United with 1-0 victory

  • Brennan Johnson scored the decisive goal ending Spurs’ 17-year trophy drought

  • Victory secured Tottenham’s qualification for next season’s Champions League

  • Manager Ange Postecoglou achieved major breakthrough after challenging Premier League season

Science and Technology

Space and Defense

  • BrahMos-NG (Next Generation) missile development progressing for enhanced precision capabilities

  • INSV Kaundinya stitched sail ship technology advancement in naval applications

  • Quantum technologies impact on global financial systems being explored by central banks

  • AI applications in cybersecurity presenting both risks and opportunities for financial institutions

Health and Environment

  • Canine Distemper virus outbreak poses threat to wildlife in Corbett Tiger Reserve area

  • Asiatic lion population census data indicating significant growth requiring new habitat management

  • Blue Talks initiative promoting marine conservation awareness programs

  • Financial Fraud Risk Indicator launched by Department of Telecommunications to tackle cyber crime

Banking and Financial Services

Interest Rate Developments

  • Current repo rate stands at 6.00% following RBI’s 25 basis points reduction in April 2025

  • Reverse repo rate maintained at 3.35% while MSF rate adjusted to 6.25%

  • Bank rate and standing deposit facility rate set at 6.50% and 5.75% respectively

  • Home loan interest rates expected to decrease following repo rate cuts benefiting borrowers

Regulatory Updates

  • RBI’s record dollar sales indicating active forex market intervention to manage rupee volatility

  • Foreign exchange reserves fluctuated from $705 billion to below $625 billion during fiscal year

  • Banking sector focusing on external benchmark interest rate revisions every three months

  • Enhanced monitoring of non-bank financial intermediaries for systemic risk assessment