Current Affairs - May 10, 2025 Current Affairs

IBM and Tata Consultancy Services (TCS) have collaborated with the Andhra Pradesh government to launch the Quantum Valley Tech Park in Amaravati. This project is a pivotal development under India’s National Quantum Mission and features the deployment of IBM’s 156-qubit Heron processor—India’s most powerful quantum computer. The partnership aims to establish a robust quantum ecosystem, supporting advanced research in cryptography, materials science, and governance. It will also create jobs, foster global investments, and bridge the gap between academia and industry through quantum computing infrastructure and cloud-based access. IBM contributes the hardware and expertise, while TCS focuses on applications and hybrid models.

Anahat Singh, a 17-year-old Indian squash player, will represent India in the women's category at the World Squash Championships 2024-25 in Chicago. She earned her place in the tournament by winning the Asian Qualifiers held in Malaysia. As India’s top-ranked women’s squash player, Anahat is set to face world No. 28 Marina Stefanoni in the first round. The other names mentioned—Abhay Singh, Veer Chotrani, Ramit Tandon, and Velavan Senthilkumar—are members of the men’s squad.

Bengaluru introduced two key initiatives aimed at improving urban water access. The 'Sanchari Cauvery' system uses GPS-tracked water tankers to deliver clean drinking water within 24 hours of booking through a mobile app, promoting transparency and affordability. In addition, the 'Sarala Cauvery' initiative streamlines the process of acquiring new water connections, allowing payment in instalments to ease the financial burden on poor and middle-class urban families. These steps reflect the city’s commitment to addressing water accessibility challenges through technology and inclusive planning.

On May 9, 2025, Morningstar DBRS upgraded India’s sovereign credit rating from ‘BBB (low)’ to ‘BBB’, reflecting a stable outlook. This upgrade highlights India’s progress in key economic areas such as fiscal consolidation, structural reforms, and macroeconomic stability. The agency cited consistent GDP growth, a declining debt-to-GDP ratio, low inflation, stable exchange rates, and improvements in the banking sector, including high capital adequacy and low non-performing assets, as core drivers for the revision. The enhanced rating indicates stronger global confidence in India’s economic trajectory and positions the country more favourably in international investment circles.

The BrahMos missile production unit is being established in Lucknow, Uttar Pradesh, with an investment of ₹300 crore by BrahMos Aerospace. This facility marks a major advancement in India’s defence manufacturing sector, aiming to produce the world’s most powerful supersonic cruise missiles. Inaugurated on May 11, 2025, it is expected to create around 500 direct jobs and thousands of indirect employment opportunities. The plant represents a key strategic and technological milestone, enhancing India’s military capabilities while contributing to the economic and industrial growth of the region. Lucknow is also emerging as a critical node in India’s Defence Corridor initiative.

Uttar Pradesh launched the UP AGREES and AI Pragya initiatives on May 9, 2025, in partnership with the World Bank. These programs are designed to boost agricultural productivity and develop digital skills among the youth. UP AGREES focuses on promoting climate-resilient, tech-driven farming in 28 districts of Bundelkhand and Purvanchal, while AI Pragya aims to train 10 lakh young individuals in Artificial Intelligence and digital technologies across sectors such as healthcare, education, and governance. The initiatives reflect Uttar Pradesh's strategic efforts toward economic growth, rural development, and digital empowerment in pursuit of a $1 trillion economy vision.

The International Monetary Fund (IMF) reviewed and approved financial assistance to Pakistan, including a $1 billion Extended Fund Facility and a $1.3 billion Resilience and Sustainability Facility. India abstained from the vote on this bailout package, raising concerns about the potential misuse of the funds and questioning the effectiveness of IMF-supported programs based on Pakistan’s history of implementation challenges. The decision underscores India's cautious stance on international financial aid to countries with inconsistent reform records, particularly in politically sensitive regions.

SBI sold 13.19% of its equity in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,888.97 crore at a share price of ₹21.50. This transaction was approved by SBI’s Executive Committee and is expected to be completed within 12 months. As a result of this divestment, SBI’s holding in Yes Bank declined from 23.97% to around 10.78%. The deal also significantly increased the return on SBI’s investment in Yes Bank, highlighting a strategic and financially beneficial move for the bank.

Dassault Aviation, a French aerospace company, is the developer of the Rafale fighter aircraft. The Rafale is a 4.5-generation multirole combat jet known for its versatility in performing missions such as air superiority, ground attack, reconnaissance, and nuclear deterrence. It features advanced avionics, delta-wing design, canards for agility, and carrier-capable variants. The aircraft is powered by two Snecma M88-2 turbofan engines and is equipped with the Thales RBE2 AESA radar along with sophisticated electronic warfare systems. First introduced in 2001, the Rafale is used by the French military and several export customers around the world.

World Migratory Bird Day 2025 will be celebrated on two dates, May 10 and October 11, in alignment with migration peaks in the Northern and Southern Hemispheres. The day will highlight the theme "Creating Bird-Friendly Cities & Communities," aiming to promote sustainable urban spaces that support the coexistence of humans and migratory birds. The announcement of these celebration dates was made by the organising partners on November 14, 2024, with a focus on raising awareness about the impact of urbanization on bird populations and advocating for conservation efforts.