Current Affairs Quiz - May 2025

Notes:
The Reserve Bank of India (RBI) has made it mandatory for all banks, financial institutions, and regulated entities to submit applications through the PRAVAAH portal from May 1, 2025. PRAVAAH stands for Platform for Regulatory Application, Validation, and Authorization. It is a secure, web-based digital portal launched by RBI on May 28, 2024. The portal serves as a single-window system for applying for RBI permissions, licenses, and approvals. This step aims to improve transparency, reduce paperwork, and speed up the approval process. It ensures faster communication between applicants and the RBI.

Notes:
Rajasthan has joined India’s first inter-state cheetah conservation corridor with Madhya Pradesh. This wildlife corridor is designed to connect protected areas in both states, allowing reintroduced cheetahs to roam safely across a vast ecosystem. The corridor covers 17,000 square kilometers, with 10,500 square kilometers in Madhya Pradesh and 6,500 square kilometers in Rajasthan. Key locations include Palpur Kuno National Park and Gandhi Sagar Sanctuary in Madhya Pradesh, which will serve as cheetah habitats. Mukundara Hills Tiger Reserve in Rajasthan, along with several districts like Kota and Sawai Madhopur, has been identified as a cheetah habitat.

Notes:
Vietnam hosts the United Nations (UN) Day of Vesak in 2025 from May 6 to 8 in Ho Chi Minh City. The United Nations Day of Vesak marks the birth, enlightenment, and passing away of Lord Buddha. In a historic first, the sacred Buddha Relic from Sarnath, India, will be sent to Vietnam for special exposition. The event is being organized by the Ministry of Culture, Government of India, along with the International Buddhist Confederation (IBC).

Notes:
NITI Aayog, along with the Institute for Competitiveness (IFC), released a report titled ‘Enhancing Micro, Small and Medium Enterprises (MSMEs) Competitiveness in India’. The report highlights reforms needed in credit access, skill development, innovation, and market linkages to boost MSMEs. Using firm-level data and Periodic Labour Force Survey (PLFS), it suggests ways to integrate MSMEs into global value chains. Focus sectors include textiles, chemicals, automotive, and food processing. Credit access improved between 2020 and 2024, yet only 19% demand was met formally by 2021, with ₹80 lakh crore unmet. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) expanded but still needs redesign for wider impact.

Notes:
Eight Gram Sabhas in Baipariguda block, Koraput district, Odisha, have harvested over 4 lakh bundles of kendu leaves in the 2025 season and are waiting for government notification to deregulate the trade. These communities are pushing to manage and sell kendu leaves under the Forest Rights Act (FRA), 2006. Kendu leaf, also known as Tendu leaf, is a vital non-wood forest product and is referred to as the “Green Gold of Odisha.” It is a major forest product in states like Madhya Pradesh, Chhattisgarh, Odisha, and others. Under the FRA, forest-dwelling communities have rights to collect, use, and sell minor forest products like kendu leaves.

Notes:
Coal Miners Day 2025 is observed on May 4 to recognise the vital role of coal miners in powering industries and energy systems. It honours their hard work in dangerous conditions and reminds us of their rights, health, and safety needs. The day also highlights past mining disasters and the need for better support, especially during the shift to clean energy. The Mines Act, 1952 was passed to provide medical care, safety rules, and rescue services for miners. The Coal Mines Act, 1974 aimed to conserve co

Notes:
India recently halted the flow of water through the Baglihar Dam on the Chenab River, a significant move impacting water access to Pakistan. The Baglihar Dam, also known as the Baglihar Hydroelectric Power Project, is located on the Chenab River in the Doda District of Jammu and Kashmir. It features a concrete gravity dam that is 144.5 meters high and 363 meters long, with a reservoir capacity of 475 million cubic meters. The underground powerhouse of the project measures 221 meters long, 24 meters wide, and 51 meters high.

Notes:
Defence Research and Development Organisation (DRDO) has successfully conducted the first flight trial of the Stratospheric Airship Platform in Sheopur, Madhya Pradesh. The platform was developed by DRDO’s Aerial Delivery Research and Development Establishment (ADRDE) based in Agra. The airship carried an instrumental payload and reached a high altitude of about 17 kilometres. The total flight lasted 62 minutes and helped gather important data through onboard sensors. This data will help in building accurate simulation models for future high-altitude missions. The test also checked the envelope pressure control and emergency deflation systems, and the airship was safely recovered.

Notes:
The Maharashtra government launched the “One State, One Registration” scheme to make property registration easy and citizen-friendly. It allows people to register property documents at any sub-registrar office in Maharashtra, regardless of where the property is located. Earlier, buyers had to register documents only at the local sub-registrar office of the property, which caused delays and overcrowding. The new policy saves time, reduces paperwork, and helps senior citizens and Non-Resident Indians (NRIs). Legal steps and documents like sale deed, Aadhaar, and PAN remain unchanged. It does not affect stamp duty or registration fees. The National Informatics Centre (NIC) is using technology like Geographic Information System (GIS), drone mapping, and blockchain for better accuracy. This move is expected to boost real estate activity and investor confidence in the state.

Notes:
Maharashtra has become the first Indian state to approve a dedicated and independent Shipbuilding, Ship Repair and Ship Recycling Policy. The goal is to make Maharashtra a leading hub for shipbuilding, ship repair, and ship recycling. The state targets an investment of ₹6,600 crore and 40,000 jobs by 2030. By 2047, the aim is to attract ₹18,000 crore in investments and create 3.3 lakh jobs. The policy supports research and development (R&D), modern technology, and skilled workforce. It aims to contribute one-third of India’s total shipbuilding output by 2030.