Daily Current Affairs 21st May 2025

Daily Current Affairs 21^st May 2025

Current affairs play a vital role in every competitive exam. Here is your daily current affairs news analysis, bringing you the latest important events from India and around the world. This update is essential for all competitive exams, including Banking, SSC, Railways, UPSC, CUET, CLAT, and various state-level exams.

Awards & Honours

1. Kannada author Banu Mushtaq wins International Booker for ‘Heart Lamp’

Banu Mushtaq won the International Booker Prize for her short story collection “Heart Lamp,” marking the first Kannada-language book to receive this honor.

• The collection, translated into English by Deepa Bhasthi, consists of 12 stories written between 1990 and 2023.
• The stories portray the struggles of Muslim women in southern India with emotional depth.
• Mushtaq’s win follows Geetanjali Shree’s “Tomb of Sand,” which won the prize in 2022, and Perumal Murugan’s “Pyre,” which was longlisted in 2023.

About Banu Mustaqu

• Banu Mushtaq, a 77-year-old Kannada author, lawyer, and activist.
• She became the first Kannada writer to win the International Booker Prize.

About International Booker Prize:

• The International Booker Prize is awarded for a work of fiction translated into English and published in the UK or Ireland, and the award is shared equally between the author and translator.
• This is a award for a single book of fiction (novel or short story collection) translated into English awarded anually.
• Prize Money: Total of £50,000, split equally between the author and the translator.
• It is open to books originally written in any language, provided the English translation is published in the UK or Ireland.
• Originally known as the Man Booker International Prize (2005–2015).
• Since 2016, the award is given for a single book (not for a body of work), and the focus shifted more clearly to translation, recognizing both author and translator.
• Sponsored by the Booker Prize Foundation.

2, IREDA Bags ‘Excellent’ Rating from DPE, Ranked Among Top 4 CPSEs and No. 1 in Power & NBFC Sector

Indian Renewable Energy Development Agency Ltd. (IREDA) recognized as top performer among Power and NBFC sector CPSEs for FY 2023-24 by the Department of Public Enterprises (DPE).

• IREDA achieved a score of 98 and above, ranking among the top 4 CPSEs out of 84 assessed.
• IREDA received the MoU ‘Excellent’ rating for FY 2023-24 on January 7, 2025 for the fourth consecutive year.
• The recognition reflects the team’s dedication and strategic vision for accelerating India’s renewable energy initiatives.

About IREDA

• Chairman & Managing Director of IREDA: Shri Pradip Kumar Das
• Works under: Ministry of New and Renewable Energy (MNRE).
• Establishment: 1987
• Moto: “Energy for Ever”
• Hq: New Delhi

News Related to RBI

3. RBI cancels licence of Lucknow-based HCBL Co-operative Bank for not complying with rules

The Reserve Bank of India (RBI) cancelled the license of Lucknow-based HCBL Co-operative Bank due to insufficient capital and earning prospects.

• The cancellation is effective from the close of business on May 19, 2025, resulting in the bank ceasing banking operations immediately.
• The Commissioner and Registrar of Cooperative, Uttar Pradesh, has been asked to initiate the winding up process and appoint a liquidator.
• Depositors will be eligible for deposit insurance claims up to ₹5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
• Approximately 98.69% of depositors are expected to receive the full amount of their deposits from DICGC.
• As of January 31, 2025, the DICGC has paid ₹21.24 crore of the total insured deposits.
• The RBI noted that the bank failed to comply with the Banking Regulation Act, 1949, and its continued operation would harm depositor interests.
• HCBL Co-operative Bank is prohibited from conducting banking business, including accepting and repaying deposits.

Banking and Insurance Affairs

4. IRDAI slaps ₹1 crore penalty on Acko General Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Acko General Insurance Ltd.

• This action follows a remote inspection conducted in October 2021, covering the financial years 2019–20 and 2020–21.
• The inspection revealed violations related to outsourcing activities and the payment of commissions to insurance agents and intermediaries, particularly concerning Acko’s engagement with Ola Financial Services Private Limited (OFSPL) .
• IRDAI’s order mandates that Acko remit the penalty amount within 15 days of receiving the order, using NEFT or RTGS.
• The insurer is also required to provide proof of payment to the regulator .
• This is not the first time Acko has faced regulatory action. In January 2020, IRDAI fined the company ₹1 crore for a misleading advertisement that violated the Insurance Advertisements and Disclosure Regulations .
• These repeated infractions underscore the importance of strict adherence to regulatory guidelines in the insurance sector.

About IRDAI:

• Established: 1999 (by the IRDA Act, 1999)
• Headquarters: Hyderabad, Telangana
• Chairman: Debasish Panda
• Regulates: Insurance industry in India – both life and non-life sectors.

About Acko General Insurance:

• Founded: 2016
• Headquarters: Mumbai, Maharashtra
• Founder & CEO: Varun Dua

5. Star Health Insurance launches Star Flexi variants under Super Star Plan

Star Health and Allied Insurance Company has introduced Star Flexi, a set of three new variants—Essential, Preferred, and Secure—under its flagship Super Star health insurance plan.

• Launched on May 16, 2025, these variants aim to provide customized health coverage tailored to diverse customer needs across India.
• Star Flexi is a multi-rider add-on designed to enhance flexibility and personalisation within the Super Star plan.
• The variants aim to provide options for a broad range of customers—from first-time buyers in smaller towns to experienced policyholders in metro cities.
• Star Health Insurance operates with a wide network of over 14,000 hospitals, more than 7,75,000 licensed agents, and 913 offices nationwide. The company reported a gross written premium of ₹17,553 crore and a net worth of ₹8,668 crore in FY25.

Note:

• MD and CEO: Anand Roy
• Hq: Chennai

Business and Economy

6. Amazon Fashion rebrands its Gen Z online store as ‘SERVE’

Amazon Fashion has relaunched its dedicated Gen Z storefront, now called ‘SERVE’, previously known as Next Gen Store.

• The rebranding aims to resonate with Gen Z by incorporating popular slang and targeting their growing spending power.
• SERVE has experienced a 3X growth in Gen Z customers and a 4X growth in shoppers from Tier-2 and -3 cities (e.g., Chandigarh, Kochi, Patna, Nagpur, Jaipur, Surat).
• SERVE aims to democratize style and support self-expression, especially in less urbanized areas where there’s been over 40% year-on-year growth.
• The storefront features over two million products from 350+ brands, including local and global names like Barcino, Tokyo Talkies, Highlander, and more.
• Competitors like Flipkart’s Myntra (with platform FWD) and various homegrown startups are actively targeting the Gen Z market, along with Reliance’s partnership with Shein.

Note: Director of Amazon Fashion India: Nikhil Sinha

National Affairs

7. India to invest $10 billion in homegrown oil tanker fleet by 2040

India plans to invest 850 billion rupees ($10 billion) by 2040 to acquire 112 crude carriers to secure its oil supplies.

• Currently, Indian state-owned oil companies operate an aging fleet primarily chartered from global companies.
• The first phase of the plan includes purchasing 79 ships, with an order for 10 tankers expected soon.
• All vessels will be built locally, with an emphasis on increasing the share of Indian-built oil tankers from 5% to 7% by 2030, and ultimately to 69% by 2047.
• India’s crude oil refining capacity is set to expand from 250 million tons to 450 million tons by the end of the decade due to growing demand.
• The Indian government established a 250 billion-rupee fund to support the maritime sector, aimed at reducing reliance on foreign-built vessels.
• India’s shipbuilding industry is developing but lacks scale; the government is encouraging global shipbuilders from Japan and South Korea to set up operations in India.

8. 35th Report on Central Ministries/Departments’ performance on Bhavishya and CPENGRAMS released for the month of April, 2025

The Government prioritizes the welfare of Central Government Pensioners through digital empowerment initiatives.

• The Bhavishya portal allows for online tracking of pension sanctions and payments, ensuring timely issue of Pension Payment Orders (PPOs).
• The CPENGRAMS portal enhances transparency and improves the redressal of pensioners’ grievances.
• As of April 30, 2025:
• Bhavishya operates in the main Secretariat of 99 Ministries/Departments/Apex Bodies and 1034 attached offices via 9,406 Drawing and Disbursing Officers (DDOs).
• A mobile app for Bhavishya is available on the Umang platform for stakeholder access.
• The new Form 6-A has streamlined pension paperwork, with 20,003 retiring officials submitting it through the Bhavishya Portal.
• 83% of PPOs in superannuation cases are issued on time.
• CPENGRAMS has successfully redressed over 7,000 grievances for 17 consecutive months.
• In April 2025, 8,396 pension cases were received, and 10,200 cases were redressed, with 61% resolved within a month.
• Only 5% of grievances remain pending after 3 months, and the total pending grievances decreased from 11,817 in March to 10,179 in April 2025.
• The report highlights success stories in grievance redressal.

9. DoT Introduces “Financial Fraud Risk Indicator (FRI)” to strengthen Cyber Fraud Prevention

The Department of Telecommunications (DoT) has introduced the “Financial Fraud Risk Indicator (FRI)” to combat cyber fraud.

• FRI is a risk-based metric that categorizes mobile numbers as Medium, High, or Very High risk for financial fraud.
• The classification is based on data from various stakeholders, including the National Cybercrime Reporting Portal (NCRP) and inputs from banks and financial institutions.
• The FRI helps banks and financial service providers prioritize action and implement protective measures for flagged mobile numbers.
• The Digital Intelligence Unit (DIU) of DoT shares a Mobile Number Revocation List (MNRL) that includes disconnected numbers involved in cybercrime, aiding in identifying risky numbers.
• Quick identification and analysis of suspected mobile numbers enhance preemptive measures against fraud, as flagged numbers are assessed and classified rapidly.
• PhonePe has implemented FRI to decline transactions linked to Very High risk numbers and is developing warnings for Medium risk numbers.
• Major UPI platforms like PhonePe, Paytm, and Google Pay are integrating DIP alerts to help reduce financial fraud.
• The FRI initiative aims to increase collaboration and response efficiency in both telecom and financial sectors to protect users from cyber fraud.

 Summit and Conference

10. India’s Participation in the BRICS Energy Ministers’ Meeting – 19 May 2025, Brasília

Union Minister Manohar Lal led the Indian delegation in Brasilia, highlighting energy security as a key challenge.

• Emphasized the need for BRICS cooperation to ensure economic stability, sustainability, and equitable access to energy resources.
• Reaffirmed India’s dedication to building a sustainable energy future and praised Brazil’s leadership in global cooperation.
• Clean Energy Progress: Key achievements showcased include:
• 90% increase in electricity capacity in the past decade, reaching 475 GW in 2025, with a target of 900 GW by 2032.
• Third-largest producer of solar and wind energy.
• Advancements towards Nationally Determined Contributions (NDCs).
• Achieving a 20% ethanol blending milestone and promoting biofuels.
• Investments in smart grids and an expanded transmission network (Green Energy Corridor).
• Ambitious goals for green hydrogen and a target of 100 GW nuclear capacity by 2047.
• Global Biofuels Alliance: Highlighted the alliance’s role in advancing biofuels cooperation.
• Fossil Fuels: Emphasized the continued importance of fossil fuels for developing countries and advocated for cleaner use through technology.
• Next BRICS Energy Gathering: Invitation extended to BRICS nations for the 2026 meeting in India, showing commitment to leading the energy agenda for the Global South.
• Commitment to SDG 7: BRICS Energy Ministers focused on improving energy security, universal electricity access, clean cooking, and addressing energy poverty.
• Energy Transition Goals: Stressed the need for just and inclusive energy transitions and the goal to double energy efficiency by 2030.

11. India Reaffirms Global Health commitment at the 78th World Health Assembly

India participated in the 78th World Health Assembly, emphasizing global health equity under the theme “One World for Health.”

• Union Health Secretary Smt. Punya Salila Srivastava represented India and acknowledged the newly elected committee chairs.
• She highlighted India’s commitment to inclusive and universal healthcare initiatives like Ayushman Bharat, which has greatly expanded access and improved healthcare infrastructure.
• India’s successes in maternal health, family planning, childhood mortality, and reduction of stillbirths have been recognized by international organizations such as the UN.
• India was certified Trachoma-Free by WHO and is working to eliminate diseases like TB, Leprosy, and Measles.
• The Ayushman Bharat initiative was broadened to cover all citizens above 70 years, independent of economic status.
• The number of medical colleges in India has doubled from 387 to 780 over the past decade to train healthcare professionals.
• Srivastava advocated for a legally binding framework to enhance global cooperation, stressing equitable access to medical countermeasures and data sharing.
• She congratulated WHO and member states on progress towards the Pandemic Treaty and the need to address future health challenges inclusively.

Obituary

12. Dr M R Srinivasan, renowned nuclear scientist, passes away

Malur Ramasamy Srinivasan, a pioneering figure in India’s nuclear energy programme, passed away in Ooty, Tamil Nadu.

• He was a former Chairman of the Atomic Energy Commission and played a pivotal role in developing India’s self-reliant nuclear advancements.
• Born on January 5, 1930, in Bangalore, Dr. Srinivasan began his career in the Department of Atomic Energy (DAE) in 1955. He worked closely with Dr.
• Homi Bhabha on the construction of Apsara, India’s first nuclear research reactor, which achieved criticality in August 1956.
• He later served as the Chief Project Engineer for the Madras Atomic Power Station, contributing significantly to India’s nuclear infrastructure.
• Under his leadership, 18 nuclear power units were developed, significantly advancing India’s self-reliance in energy.
• Srinivasan was honored with the Padma Vibhushan in 2015 for his invaluable contributions to the nation’s scientific and nuclear infrastructure.

Books and Authors

13. New book ‘Original Sin’ claims Biden, aides hid details of his poor health

A new book titled “Original Sin, President Biden’s Decline, Its Cover-Up, and His Disastrous Choice to Run Again,” co-authored by Alex Thompson and Jake Tapper, was released alleging that key Democrats were aware of Biden’s health issues but chose to remain silent.

• The book claims that several Democrats, White House officials, lawmakers, and donors deliberately ignored Biden’s deteriorating health condition.
• The authors also allege that Biden concealed information about his late son Beau Biden’s cancer diagnosis while he was serving as an elected official.
• This alleged concealment misled the public about Beau Biden’s mental fitness and demonstrates a tendency for denial and lack of transparency regarding health issues within the Biden family.
• Former US President Joe Biden has been diagnosed with high-level prostate cancer.

Appointment

14. Flipkart’s Cleartrip appoints Manoj Awasthi as chief technology officer

Cleartrip, an online travel platform owned by Flipkart, has appointed Manoj Awasthi as its Chief Technology Officer.

• Manoj Awasthi will lead the tech charter at Cleartrip, focusing on engineering, data, and infrastructure to enhance the platform’s scalability and user experience.
• Prior to this, Manoj was the Chief Technology & Product Officer at Julo.
• Ramesh Gururaja from Flipkart expressed that Manoj’s appointment strengthens the leadership team and aligns with their vision for tech platform growth and innovation.
• Manoj aims to modernize Cleartrip’s tech stack, promote faster experimentation, and improve travel planning for users.
• Flipkart acquired a majority stake in Cleartrip in April 2021.

Sports

15. Javelin thrower Shivpal Singh fails dope test again, may face lengthy ban

Javelin thrower Shivpal Singh has failed a dope test for the second time, potentially facing an eight-year ban.

• He has been provisionally suspended after methandienone, a prohibited substance, was found in his urine sample.
• This is not his first doping violation; he previously tested positive for the same steroid in 2021 and served a one-year suspension.
• Shivpal competed in the Tokyo Olympics, finishing 27th, and was under the training of coach Sergey Makarov in Patiala.
• He missed the National Federation Senior Athletics Championships in April, citing insufficient form.
• Shivpal denies being under suspension and continues to train, expressing uncertainty about the rumors.
• He has a personal best of 86.23m and won silver at the 2019 Asian Championships.
• After a four-year ban in August 2022, his appeal based on “contaminated supplements” was successful, reducing the ban to one year.
• He returned to compete in April 2023, winning bronze at the National Inter-State Championships and gold at the 2023 National Games.

About NADA:

• NADA – National Anti-Doping Agency
• Established in 2005, under the Societies Registration Act, 1860
• Headquarters: New Delhi, India
• NADA operates in accordance with WADA (World Anti-Doping Agency) guidelines.

Also, read: Daily Current Affairs 20th May 2025