Daily News One Liner: 12-May-2025
- The Government’s flagship social security schemes—PMJJBY, PMSBY, and APY—have shown substantial growth in enrollments and claims, reflecting increased public participation and awareness.
- Morningstar DBRS has elevated India’s long-term sovereign credit rating to ‘BBB’ with a stable outlook, acknowledging the nation’s robust economic reforms and fiscal discipline.
- India highlighted its forest conservation efforts and invited global participation in the International Big Cat Alliance at the 20th United Nations Forum on Forests (UNFF20) in New York.
- India and Chile have signed the Terms of Reference (ToR) to initiate negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aiming to enhance bilateral trade and economic cooperation.
- Adani Group and Bhutan’s Druk Green Power Corporation (DGPC) have signed a Memorandum of Understanding to jointly develop 5,000 MW of hydropower projects, enhancing bilateral cooperation in renewable energy.
- Zydus Lifesciences has secured USFDA approval to market Glatiramer Acetate Injection, a generic version of Copaxone, for treating relapsing forms of Multiple Sclerosis.
- REC Ltd aims to achieve zero non-performing assets (NPAs) by the end of FY25, while increasing investments in thermal and nuclear power projects, alongside maintaining its commitment to green energy financing.
- The Government of India has initiated a 15-day nationwide campaign, ‘Viksit Krishi Sankalp Abhiyan’, from May 29 to June 12, 2025, aiming to educate 10–15 million farmers across 700 districts on modern agricultural practices and new seed varieties.
- Sumitomo Mitsui Banking Corporation (SMBC) of Japan has signed a definitive agreement to acquire a 20% equity stake in Yes Bank for ₹13,483 crore, marking a significant cross-border investment in India’s banking sector.
- Canara Bank launched an employee-driven initiative, engaging its 82,000 staff members to mobilise ₹16,700 crore in deposits over 10 weeks, effectively reducing its credit-deposit ratio and reliance on bulk deposits.
- Confederation of Indian Industry (CII) President Sanjiv Puri forecasts a 6.5% GDP growth for India in FY26, citing easing interest rates and declining inflation as key growth drivers.
- India’s foreign exchange reserves declined by $2.07 billion to $686.06 billion for the week ending May 2, 2025, ending an eight-week streak of gains, primarily due to a drop in gold reserves.
- Retail inflation in India is expected to decline to 3% in April, offering the Reserve Bank of India (RBI) flexibility to consider rate cuts.
- LG Electronics India (LGEIL) has announced a ₹5,000 crore investment to establish a smart appliance manufacturing facility in Sri City, Andhra Pradesh.
- The recently concluded India-UK Free Trade Agreement (FTA) is poised to bolster British investment prospects by facilitating smoother trade and market access.
- Microsoft co-founder Bill Gates has pledged to donate 99% of his estimated $108 billion fortune to the Bill & Melinda Gates Foundation, which will cease operations by December 31, 2045.
- Asmita Dhone clinched gold in the 49kg weightlifting category at the Khelo India Youth Games 2025, setting two national youth records and aiming for a medal at the Junior World Championships.
- India Women defeated Sri Lanka by 97 runs in the ODI Tri-Series final, powered by Smriti Mandhana’s century and a combined seven-wicket haul from Sneh Rana and Amanjot Kaur.
- India commemorated National Technology Day 2025 with the theme “YANTRA – Yugantar,” highlighting the nation’s transition from technology adaptation to global leadership.
- On May 12, 2025, International Nurses Day was observed globally with the theme “Our Nurses. Our Future. Caring for nurses strengthens economies,” emphasizing the critical role of nurses’ wellbeing in enhancing healthcare systems and economic resilience.
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