Daily Current Affairs 25th May 2023: Your guide for daily General Knowledge Preparation
This post contains important current affairs of 25th May 2023. It includes all Major National, International, Business and Sports related current affairs of 25th May 2023. 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 25th May 2023 Current affairs test.
Banking & Finance News
1. RBI’s Net Forex Purchase in March 2023
- The Reserve Bank of India (RBI) reported a net purchase of $750 million in the spot forex market for March 2023. They acquired $6.91 billion while offloading $6.16 billion.
- In the previous month, the RBI’s net acquisition stood at $254 million. During March 2023, the Indian currency appreciated by 0.6% against the dollar.
- By the end of March 2023, RBI’s net forward purchase totaled $23.6 billion.
2. Return of INS Sindhuratna after Refurbishment
- INS Sindhuratna, a Sindhughosh class submarine, arrived in Mumbai after extensive refurbishment in a Russian naval dockyard. The journey, spanning 97 days, covered the Norwegian Sea, the English Channel, and the Mediterranean Sea.
- This submarine was sent to Severodvinsk, Russia, for repairs after an accident in February 2014. Classified as a Russian Type 877EKM, it’s often known as a Kilo-class submarine in NATO parlance.
National & International Organizations News
3. Tata Group in BCG’s Top 50 Innovative Companies
- The Tata Group clinched the 20th spot, becoming the only Indian representative in the Boston Consulting Group’s (BCG) list of the Top 50 innovative companies of 2023.
- The top-tier of this list features industry stalwarts like Apple, Tesla, Amazon, and Alphabet. BCG formulates these rankings considering various factors, including company performance, resilience, and the pace of innovation.
4. Ireland’s Initiative on Alcohol Health Labeling
- Ireland is pioneering mandatory health labels on alcoholic beverages. These labels will provide warnings about potential risks like cancer, liver diseases, and the dangers of consuming alcohol during pregnancy.
- Stephen Donnelly, the Health Minister, authorized this regulation, which will be rolled out in the next three years. The move aims to keep consumers informed about the alcohol content and related health hazards.
- Republic of Ireland Facts:– Currency: Euro
– Capital: Dublin
– Current President: Michael D. Higgins
5. Molbio Diagnostics and ShanMukha Innovations Collaboration
- Molbio Diagnostics has allied with ShanMukha Innovations, an IISc spin-off, to develop and market SickleCert, a point-of-care diagnostic tool. The tool is intended to diagnose hemoglobin-related diseases.
- This cutting-edge device is a trailblazer in India, exclusively devised for the quantitative detection and differentiation of the sickle cell ailment/trait.
Science & Technology News
6. IIT Madras Introduces 15 Centres of Excellence
- Under the ‘Institute of Eminence’ (IoE) Scheme, IIT Madras unveiled 15 Centres of Excellence (CoE) on 24th May 2023 to champion innovative technological advancements.
- The Indian government’s IoE Scheme seeks to thrust Indian academic institutions to international prominence. IIT Madras earned this accolade in 2019.
Banking and Financial News
7. India’s GDP Milestone in Moody’s 2023 Report
- According to Moody’s 2023 report, India’s GDP surpassed the USD 3.5 trillion benchmark in 2022, with expectations to remain the fastest-growing G20 economy.
- Yet, Moody’s sounded a note of caution regarding regulatory and policy impediments that could potentially dampen investment opportunities.
8. Commemoration of International Missing Children’s Day
- International Missing Children’s Day, celebrated every 25th May, casts a spotlight on child abduction concerns. It pays homage to missing children and those who have been found. The day was initiated in the US in 1983, following the 1979 disappearance of Etan Patz in New York City.
9. World Thyroid Day Observance
- World Thyroid Day, commemorated annually on 25th May, is devoted to raising awareness of thyroid disorders and symptoms. Launched in 2007 by the Thyroid Federation International, it also marks the establishment of the European Thyroid Association in 1965.
- Thyroid Disease Info:Thyroid ailments usually stem from the gland producing inappropriate hormone amounts. An overproduction leads to hyperthyroidism, manifesting symptoms like fatigue, increased heart rate, unintentional weight loss, and anxiety.