Daily Current Affairs 12th May 2025: Your guide for daily General Knowledge Preparation
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This post contains daily current affairs 12th May 2025. It includes all National, International, Business & Sports related current affairs 12th May 2025. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 12th May, 2025 Current affairs test.
BANKING & FINANCE News
RBI Eases Investment Norms for Foreign Portfolio Investors in Corporate Debt Securities
The Reserve Bank of India (RBI) has introduced a relaxation of guidelines concerning Foreign Portfolio Investors (FPIs) investing in corporate debt instruments through the general investment route.
Key changes include the elimination of the short-term investment limit and the concentration limit for such FPI investments.
Objective: This policy revision is aimed at simplifying the investment process for FPIs and enhancing their involvement in India’s corporate bond market.
Withdrawn Requirements:
Short-term Investment Cap: FPIs are no longer bound by the restrictions concerning short-duration investments in corporate debt.
Concentration Cap: FPIs are also relieved from adhering to concentration limits in corporate debt investments.
Applicability: The relaxation pertains to FPI investments via the general route, covering both corporate and government debt instruments, within the prescribed investment and macroprudential thresholds.
Effective Date: These changes are effective immediately.
Expected Outcome: The RBI anticipates that this policy move will lead to a higher influx of foreign investments, thereby enhancing liquidity and stability in India’s corporate debt sector.
NATIONAL NEWS
Manohar Lal Launches ‘Bharat Bodh Kendra’ at India Habitat Centre
Union Minister for Housing and Urban Affairs, Manohar Lal, inaugurated the ‘Bharat Bodh Kendra’ at the India Habitat Centre in New Delhi.
The center is established as a specialized section within the Habitat Library and Resource Centre.
It is dedicated to fostering an enriched understanding of India’s deep-rooted cultural and civilizational ethos.
Features: The space will host an array of curated materials, including literature on Indian art, spirituality, philosophy, and historical narratives.
INTERNATIONAL NEWS
Taliban Prohibits Chess in Afghanistan Citing Sharia Concerns
On May 12, 2025, the Taliban administration imposed a temporary ban on chess in Afghanistan.
The justification provided was that the game allegedly contradicts Islamic law as interpreted by the regime.
This move is in line with the Taliban’s broader implementation of stricter religious norms across cultural and recreational practices since their return to power in August 2021.
The ban is pending a formal review by religious scholars but is already influencing public and recreational life in cities like Kabul.
India’s Participation at UNFF20
India took part in the 20th session of the United Nations Forum on Forests (UNFF20) held in New York, showcasing its environmental efforts and achievements.
Increase in Forest and Tree Cover
According to the India State of Forest Report, 25.17% of the nation’s total area is now under forest and tree cover.
Noteworthy efforts include:
Aravalli Green Wall Project
7.86% rise in mangrove forest cover
1.55 lakh hectares reforested under the Green India Mission
‘Ek Ped Maa Ke Naam’ (Plant4Mother) Initiative
Approximately 1.4 billion saplings have been planted under this campaign.
The initiative promotes environmental rejuvenation and encourages public engagement in ecological conservation.
International Big Cat Alliance (IBCA)
India invited all UN member states to join the IBCA.
The alliance aims to ensure the conservation of seven key big cat species globally: tigers, lions, leopards, jaguars, snow leopards, pumas, and cheetahs.
Forest Fire Management
India advocated for concrete actions based on the outcomes of the Country-Led Initiative (CLI) on forest fire management and certification protocols.
Rehabilitation of Degraded Forests
A dedicated side session was held by India focusing on:
Policy reform
Community-based participation
Tech-enabled forest landscape restoration
Ecosystem Valuation in Forest Governance
India shared insights from pilot ecosystem valuation projects in Uttarakhand, Rajasthan, and various tiger reserves.
It emphasized integrating these findings into policy-making and forest management frameworks.
India-UK Free Trade Agreement Concluded
Indian PM Narendra Modi and UK PM Keir Starmer announced the successful conclusion of the India-UK Free Trade Agreement (FTA).
The deal aligns with the goals of Viksit Bharat 2047 and aims to fuel mutual economic growth.
It follows dialogue during the G20 Summit in Rio de Janeiro in November 2024.
Benefits of the FTA:
Strengthens trade relations between the two nations.
Supports Indian workers, MSMEs, farmers, fishers, and startups.
Targets to increase annual bilateral trade by £25.5 billion by 2040.
UK is India’s 4th largest export destination; India is UK’s 11th largest trade partner.
2024 bilateral trade: £42.6 billion; target by 2030: USD 120 billion.
Social Security Relief: Indian employees in the UK will be exempt from dual social security contributions for three years.
BUSINESS NEWS
Government Considers Merging Four Public Sector General Insurers
A merger plan is being evaluated for four public sector general insurers:
New India Assurance Company (NIAC)
Oriental Insurance Company (OIC)
National Insurance Company (NIC)
United India Insurance Company (UIIC)
Objective: To form a robust, consolidated entity capable of rivaling private and global competitors.
Market Performance:
Combined market share of these PSU insurers dropped from 39% in FY23 to 34.6% in FY25.
The dip is due to the aggressive growth of private insurance providers.
The new entity is envisioned to be a general insurance equivalent of LIC, which commands a 57% market share in life insurance premiums.
BII to Invest ₹870 Crore in ReNew Solar Unit
British International Investment (BII), the UK’s development finance arm, has pledged ₹870 crore (~$100 million) for a 10% equity in ReNew Photovoltaics Private Ltd.
ReNew Photovoltaics manages:
A 6.4 GW solar photovoltaic module manufacturing capacity
A 2.5 GW solar cell facility
This marks BII’s first venture into India’s solar manufacturing sector.
SCIENCE & TECHNOLOGY
TCS Launches AI-Powered MasterCraft Tool for Legacy System Modernization
Tata Consultancy Services (TCS) has introduced a new version of its MasterCraft software integrated with Generative AI and Agentic AI technologies.
Key Features:
Automates modernization of outdated enterprise applications.
Cuts modernization costs by over 70% and delivers results twice as fast as conventional approaches.
Capable of accurately extracting business logic from legacy systems.
A leading North American bank has successfully employed this AI-powered tool to update its mainframe systems.
Dream Sports and Microsoft Collaborate to Advance Sports Tech in India
Dream Sports, India’s top sports tech firm, has formed a strategic alliance with Microsoft.
The partnership was formalized during the World Audio Visual & Entertainment Summit 2025 (WAVES) in Mumbai.
Agreement Highlights:
MoU signed to explore synergies in India’s gaming sector.
Combines Microsoft’s AI and technical capabilities with Dream Sports’ base of over 250 million users.
This comes amid Dream Sports’ broader expansion, which includes acquiring a 15% stake in Cricbuzz for $50 million.
CEO: Harsh Jain
IMPORTANT DAYS
International Nurses Day 2025 – Celebrated on May 12
Observed annually on May 12, honoring the birth anniversary of Florence Nightingale.
2025 Theme: “Our Nurses. Our Future. Caring for nurses strengthens economies”.
History:
In 1953, Dorothy Sutherland proposed the observance to US President Dwight D. Eisenhower.
Since 1965, it has been observed globally under the aegis of the International Council of Nurses (ICN).
It was officially established in January 1974.
ICN distributes a Nurses Day kit to raise awareness about the vital contributions of nurses.
Fact: In Bangladesh, the number of nurses is reportedly half that of doctors.
International Day of Plant Health Observed on May 12
This global observance focuses on the importance of plant health in:
Ensuring global food security
Preserving biodiversity
Reducing poverty
Promoting sustainable development
It stems from the legacy of the International Year of Plant Health 2020.
The initiative promotes plant protection under the One Health framework to prevent damage from pests, diseases, and climate threats.
SPORTS NEWS
Deepika Kumari Wins Bronze at Archery World Cup Stage 2
Indian archer Deepika Kumari clinched a bronze medal in the Archery World Cup Stage 2 held in Shanghai.
After a hard-fought semifinal loss to world number one Lim Sihyeon, Deepika rebounded by defeating Kang Chae Young of Korea with a score of 7-3.
Her victory added to India’s overall medal tally of six at the event, reinforcing India’s rising status in international archery.
