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Daily Current Affairs
3 May, 2025
1. Which port was inaugurated by Prime Minister Narendra Modi in May 2025, aiming to position Kerala as a global maritime hub?
- A) Cochin Port
- B) Vizhinjam International Seaport
- C) Kandla Port
- D) Paradip Port
- E) Mormugao Port
Answer: B) Vizhinjam International Seaport
Explanation: In May 2025, Prime Minister Narendra Modi inaugurated the Vizhinjam International Seaport in Kerala. Developed at a cost of ₹8,800 crore, this state-of-the-art facility is set to emerge as a major transshipment hub, capable of accommodating the world’s largest cargo ships and reducing India’s dependency on foreign ports.
2. Which state became the first in India to approve a dedicated Shipbuilding, Ship Repair, and Ship Recycling Policy in 2025?
- A) Gujarat
- B) Maharashtra
- C) Tamil Nadu
- D) Andhra Pradesh
- E) Odisha
Answer: B) Maharashtra
Explanation: In April 2025, the Maharashtra State Cabinet approved the ‘Shipbuilding, Ship Repair, and Ship Recycling Policy 2025’, making Maharashtra the first state in India to introduce a dedicated policy in the maritime manufacturing sector. This initiative aligns with the Union Government’s Maritime India Vision 2030.
3. Who was appointed as the Deputy Governor of the Reserve Bank of India in May 2025?
- A) Urjit Patel
- B) Poonam Gupta
- C) Viral Acharya
- D) Raghuram Rajan
- E) Shaktikanta Das
Answer: B) Poonam Gupta
Explanation: In May 2025, Poonam Gupta was appointed as the Deputy Governor of the Reserve Bank of India, bringing her extensive experience in economic policy and research to the central bank.
4. What is the name of the new index launched by NSE for the media, entertainment, and gaming sectors?
- A) Nifty Media
- B) Nifty Entertainment
- C) Nifty Waves
- D) Nifty Gaming
- E) Nifty MEG
Answer: C) Nifty Waves
Explanation: The National Stock Exchange (NSE) launched the Nifty Waves index to track the performance of companies in the media, entertainment, and gaming sectors, reflecting the growing importance of these industries in the Indian economy.
5. Which two banks were among those penalized by RBI in May 2025 for regulatory non-compliance?
- A) ICICI Bank and Axis Bank
- B) HDFC Bank and SBI
- C) PNB and Bank of Baroda
- D) Kotak Mahindra Bank and Yes Bank
- E) IndusInd Bank and IDFC First Bank
Answer: A) ICICI Bank and Axis Bank
Explanation: In May 2025, the Reserve Bank of India imposed penalties on ICICI Bank, Axis Bank, and three other banks for regulatory non-compliance, emphasizing the importance of adherence to banking regulations.
6. What was India’s total exports for the financial year 2024-25, as reported in May 2025?
- A) $700 billion
- B) $750 billion
- C) $800 billion
- D) $824.9 billion
- E) $850 billion
Answer: D) $824.9 billion
Explanation: India’s total exports for the financial year 2024-25 reached a record $824.9 billion, marking a 6.01% increase from the previous year, reflecting robust performance in various sectors.
7. Which organization released a report titled “Enhancing MSMEs Competitiveness in India” in May 2025?
- A) RBI
- B) SEBI
- C) NITI Aayog
- D) Ministry of Finance
- E) FICCI
Answer: C) NITI Aayog
Explanation: In May 2025, NITI Aayog released a report titled “Enhancing MSMEs Competitiveness in India,” focusing on strategies to boost the performance and global competitiveness of Micro, Small, and Medium Enterprises in the country.
8. What is the Fair and Remunerative Price (FRP) for sugarcane for the 2025-26 season, as approved in May 2025?
- A) â‚ą300 per quintal
- B) â‚ą325 per quintal
- C) â‚ą355 per quintal
- D) â‚ą375 per quintal
- E) â‚ą400 per quintal
Answer: C) â‚ą355 per quintal
Explanation: The Cabinet Committee on Economic Affairs approved the Fair and Remunerative Price (FRP) of sugarcane for the 2025-26 season at â‚ą355 per quintal, applicable for a basic recovery rate of 10.25%.
9. Which order was replaced by the Sugar (Control) Order, 2025, to modernize sugar sector regulation?
- A) Sugar Regulation Act, 1955
- B) Sugar Control Order, 1966
- C) Sugar Production Act, 1970
- D) Sugar Industry Regulation, 1980
- E) Sugar Trade Policy, 1990
Answer: B) Sugar Control Order, 1966
Explanation: To align with modern industrial practices and digital technologies, the Central Government replaced the decades-old Sugar (Control) Order, 1966, with the Sugar (Control) Order, 2025, aiming to bring transparency and efficiency in the sugar sector.
10. Which ministry is linked with the newly notified Sugar (Control) Order, 2025?
- A) Ministry of Agriculture
- B) Ministry of Commerce
- C) Ministry of Consumer Affairs, Food and Public Distribution
- D) Ministry of Finance
- E) Ministry of Industry
Answer: C) Ministry of Consumer Affairs, Food and Public Distribution
Explanation: The Sugar (Control) Order, 2025, was notified by the Department of Food and Public Distribution, which operates under the Ministry of Consumer Affairs, Food and Public Distribution, to modernize and streamline regulations in the sugar sector.
