Current Affairs Quiz 29th May 2025 Quiz

Exp. Cabinet Approves Continuation of MISS for FY 2025-26

The Union Cabinet, chaired by PM Narendra Modi, approved the continuation of the Interest Subvention (IS) component under MISS and sanctioned the necessary fund allocations to support the scheme.

Under MISS, farmers can avail short-term loans of up to ₹3 lakh through Kisan Credit Cards (KCC) at a subsidized 7% interest rate. Eligible institutions receive 1.5% subvention, and farmers repaying on time get an additional 3% Prompt Repayment Incentive (PRI), effectively reducing their rate to 4%.

Loans up to ₹2 lakh taken exclusively for animal husbandry or fisheries also qualify for the interest subvention benefits, encouraging diversification in agriculture.

Institutional credit disbursement through KCC grew from ₹4.26 lakh crore (2014) to ₹10.05 lakh crore (Dec 2024), and overall agri-credit flow surged from ₹7.3 lakh crore (FY14) to ₹25.49 lakh crore (FY24), aided by digital initiatives like the Kisan Rin Portal launched in 2023.

Exp. Cabinet Approves ₹69 Hike in Paddy MSP for Kharif 2025–26

The Union Cabinet approved a ₹69 per quintal increase in the Minimum Support Price (MSP) for paddy (common variety) for the Kharif 2025–26 marketing season, raising it to ₹2,369 per quintal; the MSP for Grade A paddy was also increased to ₹2,389 per quintal.

Revised MSPs were approved for 13 other Kharif crops, with nigerseed seeing the highest hike of ₹820 per quintal, followed by ragi (₹596), cotton (₹589), and sesamum (₹579), reflecting a push for higher farm incomes and crop diversification.

Farmers are expected to earn improved margins over the cost of production, with bajra offering the highest margin at 63%, followed by maize and tur (59% each), and urad (53%), while others are estimated at 50%.

From 2014–15 to 2024–25, paddy procurement reached 7,608 LMT worth ₹14.16 trillion, and total MSP procurement of 14 Kharif crops rose to 7,871 LMT valued at ₹16.35 trillion, showing a sharp rise compared to the previous decade.

Exp. Raman Aggarwal Appointed CEO of Finance Industry Development Council

Raman Aggarwal has officially assumed charge as the Chief Executive Officer (CEO) of the Finance Industry Development Council (FIDC), the apex body representing NBFCs in India.

His appointment marks a notable leadership change and has been prominently covered by major financial news platforms, highlighting its significance for the NBFC sector.

Recent Appointments

• Director of the Marine Products Export Development Authority (MPEDA) – Ram Mohan M K
• Global GCC Practice Leader of HCL – Kiran Cherukuri
• Foreign Minister of Canada – Hindu Origin Anita Anand
• CMD of PTC India Ltd – Dr Manoj Kr Jhawar
• CEO of ONDC Amid Leadership Transition – Vibhor Jain

Exp. N Chandrasekaran to Step Down as Tata Chemicals Chairman; S. Padmanabhan Appointed Successor

Tata Sons Chairman N Chandrasekaran will step down as Director and Chairman of Tata Chemicals effective May 29, 2025, citing current and future commitments.

Following his resignation, the Board appointed S. Padmanabhan, an existing Director, as the new Chairman of Tata Chemicals effective May 30, 2025.

The company also approved the appointment of Modan Saha as an Additional Director (Non-Executive, Non-Independent) effective May 28, 2025, based on the Nomination and Remuneration Committee’s recommendations.

Exp. PayPal Gets RBI Nod to Operate as Cross-Border Payment Aggregator in India

PayPal Payments Pvt Ltd, the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the RBI to operate as a Payment Aggregator for Cross-Border Exports (PA-CB-E).

This approval enables PayPal to support Indian small businesses by facilitating secure cross-border payments to around 200 international markets, enhancing global selling capabilities.

With India’s exports reaching USD 73.8 billion in April 2025, PayPal aims to simplify global commerce through localized tools like PayPal Checkout, Invoicing, and No-Code checkout, while operating within a regulated framework for greater transparency and security.

Exp. IndiGo Appoints Former IAS Officer Vikram Singh Mehta as New Chairman

IndiGo Airlines has appointed Vikram Singh Mehta, a former IAS officer, as the new chairman of its board.

Vikram Singh Mehta will succeed Venkataramani Sumantran, who served as chairman for three years and resigned after completing his five-year term as a board member.

Mehta has extensive leadership experience, having served as chairman of the Shell Group of Companies in India and CEO of Shell Markets and Shell Chemicals in Egypt.

Exp. Ahmedabad to Host 2026 Asian Weightlifting Championship

Ahmedabad, Gujarat’s largest city, will host the 2026 Asian Weightlifting Championship from April 1 to April 10, 2026, as announced by the Asian Weightlifting Federation.

The original venue for the 2026 championship was Gujarat’s capital, Gandhinagar, but the event was later shifted to Ahmedabad.

The 2025 Asian Weightlifting Championship was held in Jiangshan, China, where Indian athletes Dilbag Singh (96 kg) and Seram Nirupama Devi (women’s 64 kg) participated but did not win any medals.

India will be hosting the prestigious continental-level Asian Weightlifting Championship for the second time. It hosted the Asian Weightlifting Championship in 1982 as part of the 1982 Asian Games held in Delhi.

The first Asian Weightlifting Championship was held in 1957 at Tehran, Iran.

Exp. Rajnath Singh approves AMCA to build India’s 5th Gen. Fighter Aircraft

The Defence Minister, Rajanath Singh, has approved the Advanced Medium Combat Aircraft (AMCA) Programme Execution Model, which aims to build India’s fifth-generation fighter aircraft.

In March 2024, the Union Cabinet Committee on Security, chaired by PM Modi, had approved the design and development of the AMCA.

The Indian Air Force’s most advanced fighter plane is currently the Rafale, a 4.5-generation fighter plane from Dassault Aviation of France.

The indigenously developed Tejas MK-1A is also claimed to be a 4.5-generation multi-role fighter aircraft.

The Aeronautical Development Agency (ADA) of the Defence Research and Development Organisation (DRDO) will design the fifth-generation fighter plane to be developed under AMCA.

The ADA has also designed the Light Combat Aircraft Tejas, which is being manufactured by Hindustan Aeronautics Limited (HAL).

Exp. President Droupadi Murmu Inaugurates Two-Day Literary Conference

President Droupadi Murmu has inaugurated a two-day Literary Conference at the Rashtrapati Bhavan Cultural Centre.

The event, organised in collaboration with the Sahitya Akademi, will feature sessions like Poets’ Meet, Feminist Literature of India, Change in Literature vs. Literature of Change, and New Directions of Indian Literature in Global Perspective.

The conference will conclude with a special session on the saga of Devi Ahilyabai Holkar.

Exp. Senior Akali Dal Leader Sukhdev Singh Dhindsa Passes Away

Senior Shiromani Akali Dal leader and former Union Minister Sukhdev Singh Dhindsa passed away at the age of 89.

He served as Lok Sabha MP from Sangrur and held the portfolios of Sports, Chemicals, and Fertilisers in the Atal Bihari Vajpayee-led government.

Exp. India’s Industrial Production Growth Slows to 2.7% in April 2025

India’s Index of Industrial Production (IIP) growth slowed to 2.7% in April 2025, down from 3% in March, as per data from the Ministry of Statistics and Programme Implementation.

Among major sectors, manufacturing grew 3.4%, electricity generation rose 1.1%, while mining output declined by 0.2% in April.

In the use-based classification, Capital goods showed strong growth at 20.3%, while Consumer non-durables (-1.7%) and Primary goods (-0.4%) witnessed contractions.

Exp. India wins gold in 4x400m mixed relay at Asian Athletics Championships

India successfully defended its 4x400m mixed relay title at the Asian Athletics Championships in Gumi, South Korea, with the team clocking 3:18.12 to win gold.

The Indian relay team comprised Rupal Choudhary, Santhosh Kumar Tamilarasan, Vishal TK, and Subha Venkatesan, finishing ahead of China and Sri Lanka.

In individual women’s events, Rupal Choudhary won silver in the 400m, Pooja won silver in the 1500m, and Lili Das finished fourth in the 1500m.

Exp. 28 May – Menstrual Hygiene Day

Menstrual Hygiene Day is observed every year on 28 May.

Objective – To raise awareness about the importance of menstrual health and hygiene in empowering women and girls to reach their full potential.

Theme 2025 – Together for a #PeriodFriendlyWorld

 The day aims to break down societal stigmas and taboos surrounding menstruation, promoting open conversations and education about menstrual health.

Exp. 28 May – World Hunger Day

World Hunger Day is observed annually on May 28 to raise awareness about the global hunger crisis and to inspire collective action toward sustainable solutions.

Established in 2011 by The Hunger Project, this day emphasises the need for long-term strategies to combat hunger and malnutrition, focusing on empowerment, education, and systemic change