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Daily Current Affairs: 2 May 2025

Current affairs of 2 May 2025: US-Ukraine Rare Earth Minerals Deal: Reinvestment Fund; Pahalgam Attack: India Courts Pakistan Allies Diplomatically; Vizhinjam Seaport Commissioned by PM Modi in Kerala, and 20 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)May 2025
23 TOPICSDaily CurrentAffairs2 May 2025In focus: US-Ukraine Rare Earth Minerals Deal:…safalsetu.com

In this issue: 23 topics

National Affairs

  1. Vizhinjam Seaport Commissioned by PM Modi in Kerala
  2. Private Member’s Bills: Decline, Examples and Reform Ideas
  3. Caravaggio’s Mary Magdalene in Ecstasy Shown at KNMA Delhi

Government Schemes

  1. MGNREGA April 2025 Work Demand Falls 6.6% Year on Year

Banking & Finance

  1. UPI April 2025 Dip: Seasonal Slide, IMPS and AePS Trends
  2. Jana SFB Plans Universal Bank Licence Application
  3. NABFID Targets ₹70,000 Crore Fundraising for FY26
  4. Large-Cap, Mid-Cap and Small-Cap Funds Compared
  5. BSE Monthly Derivatives on New Indices: Sebi Approval Sought
  6. SEBI Plan to Make Rating Agencies Vet Equity Fundraisers
  7. Gold Loan Sector After RBI’s Draft Norms: Fintech Push
  8. Doorstep KYC for mutual funds via India Post and SBI Funds
  9. Bajaj Allianz ClimateSafe: India’s First Parametric Climate Cover
  10. SBI-LPAI Pact for Banking at India’s Land Ports
  11. RBI Gold Purchases FY25: 57.5 Tonnes Added to Reserves
  12. Razorpay MCP Server: AI Agents Run Payments

Economy

  1. GST Net Revenue Hits Record ₹2.09 Trillion in April 2025
  2. Finance Minister Backs Private Sector, Launches Corporate Bhawan
  3. India’s Forex Reserves Climb to $688.13 Billion

International Affairs

  1. US-Ukraine Rare Earth Minerals Deal: Reinvestment Fund
  2. Pahalgam Attack: India Courts Pakistan Allies Diplomatically
  3. Waltz Out as US National Security Adviser, Rubio Steps In

Defence & Security

  1. Top Brass Changes: Army and IAF Get New Senior Commanders

National Affairs

Polity & Governance

2. Private Member’s Bills: Decline, Examples and Reform Ideas

  • Private Member's Bills are introduced by MPs outside the government; Fridays of a session are normally set aside for them.
  • In the 17th Lok Sabha, 729 such bills were introduced in Lok Sabha and 705 in Rajya Sabha, with very few debated.
  • Tiruchi Siva's 2014 transgender rights bill passed Rajya Sabha, the first PMB to do so in four decades.
  • Reforms proposed: protected PMB time, a screening committee, longer sitting hours and a UK-style Ten-Minute Rule.
Full notes and 3 MCQs ›

Government Schemes

Banking & Finance

Economy

8. Large-Cap, Mid-Cap and Small-Cap Funds Compared

  • Over two years, SIPs in largecap funds averaged 11.3% annualised, ahead of 7.2% for smallcap funds.
  • Midcap funds led with 12.6% annualised two-year SIP returns.
  • Large-cap means the top 100 companies; mid-cap ranks 101-250; small-cap is 251st onwards.
  • Market cap equals current share price multiplied by total outstanding shares.
Full notes and 3 MCQs ›
Economy

11. Gold Loan Sector After RBI’s Draft Norms: Fintech Push

  • RBI issued draft gold loan guidelines on 9 April 2025 to harmonise rules and strengthen governance.
  • Fintechs are exploring co-lending with banks and NBFCs to offer secured gold loans.
  • India's households hold about 25,000 tonnes of gold; roughly 65% of the gold loan market is informally served.
  • Muthoot Fincorp invested ₹15 crore to take a stake in BankBazaar.
Full notes and 3 MCQs ›

Economy

International Affairs

International Relations

21. Pahalgam Attack: India Courts Pakistan Allies Diplomatically

  • After the Pahalgam attack, India strengthened diplomacy with Saudi Arabia, the UAE and the Taliban regime.
  • The India-Saudi joint statement condemned the attack in the strongest language used in such statements so far.
  • Saudi ties began with the 2006 Delhi Declaration and the 2010 Strategic Partnership; the UAE pact dates to 2017.
  • The Taliban categorically condemned the Pahalgam killings after India's envoy met foreign minister Muttaqi in Kabul.
Full notes and 3 MCQs ›

Defence & Security

Test yourself

15 questions from the news of 2 May 2025, with answers and explanations.

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