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- India 6th In World Stock Market; Neelam Meena Appointed Chief Election Officer
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Today’s major current affairs, which are important for students preparing for government jobs-
NATIONAL
1. Quad countries sign MoU on Critical Minerals Framework
- The meeting of foreign ministers of Quad countries ended in New Delhi on 26 May.
- Foreign ministers of India, America, Japan and Australia attended the meeting.
- Marco Rubio from America, Toshimitsu Motegi from Japan and Penny Wong from Australia were present.
- India and US signed an MoU for Critical Minerals and Rare Earth Supply Security.
- This MoU will help in increasing strategic and economic cooperation between India and America.
- Quad countries approved launching of Critical Minerals Framework. Along with this, approval was given to jointly invest and cooperate in mining, processing, recycling and strengthening the supply chain.
- The Quad countries have also taken initiatives to increase energy security in the Indo-Pacific, under which the Fuel Security Forum and Regional Energy Security will be taken forward.
- Quad countries will share satellite data to enhance maritime surveillance in the Indian Ocean and Indo-Pacific region, which will help in countering smuggling, illegal fishing and disaster relief.
- The Quad countries have also decided to start the ‘Ports of the Future’ project in Fiji, under which port infrastructure and regional connectivity will be strengthened.
- Along with this, the Quad countries also talked about the increasing tension in the Middle East and the crisis related to the Strait of Hormuz.
International
2. Taiwan becomes the 5th largest stock market in the world
- According to the report released by Bloomberg on May 25, Taiwan has become the 5th largest stock market in the world, leaving behind India.
- Taiwan’s total market cap is Rs 4.95 trillion, while India’s market cap is Rs 4.92 trillion.
- The main reason for this surge in Taiwan’s stock market is the increasing demand for Taiwanese semiconductor and AI industry.
- The biggest reason for this boom in Taiwan’s market has been the chip manufacturing company Taiwan Semiconductor Manufacturing Company i.e. TSMC. The company’s shares have increased by about 49 percent this year.
- India has now come to sixth place in the global stock market ranking. The world’s largest stock markets are of America, China, Japan and Hong Kong.
- Taiwan is ahead of India in terms of stock market ranking, but India is still much larger in terms of the size of the economy.
- According to International Monetary Fund (IMF) estimates, India’s economy is worth about $4.15 trillion and is one of the fastest growing economies in the world.
- At the same time, Taiwan’s gross domestic product i.e. GDP is about 977 billion dollars.
3. India and Canada set ‘CEPA 2030’ target
- On May 25, India and Canada set a target to complete the Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026.
- This information was given in the meeting held in Ottawa between Canadian PM Mark Corny and Union Minister Piyush Goyal.
- According to Commerce Minister Piyush Goyal, CEPA aims to increase bilateral trade to $50 billion (approximately Rs 4 lakh crore) by 2030.
- Canadian PM Mark Carney has described this agreement as a ‘game changer’ for both the countries.
- This MoU is related to service, investment and human resources. Along with this, both the countries have agreed to increase cooperation in sectors like energy, agriculture and higher education.
- With this MoU, Indian exporters will get better access to the Canadian market.
- This CEPA is part of India’s ‘Act West’ and Canada’s ‘Indo-Pacific’ strategy.
- Upon completion of this MoU, pharmaceuticals, textile and IT professionals will benefit.
The next meeting of trade talks between India and Canada will be held in Ottawa in July 2026.
Appointment
4. Neelam Meena appointed Chief Election Officer
- On May 26, 1998 batch IAS Neelam Meena took over as the new Chief Election Officer (CEO) of West Bengal.
- IAS Neelam has been appointed after former CEO Manoj Kumar Aggarwal was made the Chief Secretary of the state.
- Neelam has also been the magistrate of Hooghly district. She was also the Chief Executive Officer of Siliguri Jalpaiguri Development Authority (SJDA).
- Neelam has held senior positions in the Youth Services and Environment Department of the Government of West Bengal.
- Along with this, Neelam has also worked in Tea Board and Rural Development Ministry.
- In February 2024, Neelam was made the Secretary of the Consumer Department of West Bengal and till now she was holding this post.
- Apart from this, Neelam has worked on many posts in many departments including Principal Secretary, Director, Secretary, Deputy Chairman, Private Secretary, District Collector and Magistrate, Joint Secretary, Chief Executive Officer.
Neelam has been Principal Secretary, Director and Deputy Chairman in many departments.
MISCELLENEOUS
5. FWICE bans Bollywood actor Ranveer Singh
- On May 25, Federation of Western India Cine Employees (FWICE) banned Bollywood actor Ranveer Singh. This ban has been imposed due to his sudden departure from the film.
- Actor-director Farhan Akhtar had complained to FWICE about Ranveer Singh’s sudden exit from the film ‘Don 3’.
- Farhan said in his complaint that the pre-production of the film had started, after which Ranveer left the film. Due to this the film makers have suffered a loss of Rs 45 crore.
- According to FWICE, attempts were made to talk to Federation President VN Tiwari Neranveer thrice on this matter, but he did not respond.
- After this, FWICE has issued a non-cooperation directive (instruction not to work with him) against Ranveer Singh.
- Farhan had announced the film Don-3 with actor Ranveer Singh in the year 2023. This was the third film of this franchise after Shahrukh starrer Don in 2006 and Don-2 in 2011.
Federation of Western India Cine Employees (FWICE)
- FWICE is the largest organization protecting the interests of workers and artists of the film industry. It was started in the year 1956 and was registered in 1958.
- The FWICE Federation functions primarily as a mother body (top). There are a total of 34 different associations in this.
- About 4 to 5 lakh members of 34 associations like actors, directors, producers, cameramen, technicians, junior artists and spotboys are associated with FWICE.
- FWICE is Asia’s largest film federation. At present, about 90 percent of the people working in the film industry are members of the associations associated with this federation.
- FWICE resolves money disputes between federation makers and actors and the federation can declare any association or member as non-member if it acts against the constitution.
Ranveer will not be able to shoot any new film until the controversy ends.
6. RBI formed Quantum (Q-SAFE) Committee
- On May 25, the Reserve Bank of India (RBI) formed an 8-member Expert Committee (Q-SAFE) to assess both the opportunities and risks in quantum technology in the financial sector.
- Quantum technology will work for portfolio optimization, risk assessment, microeconomic modeling.
- This panel will identify and evaluate the risks and challenges. The aim is to prepare a roadmap for cross-country analysis and a quantum framework.
- Dr. Anil Prabhakar, Professor of Electrical Engineering Department of IIT Madras will be the Chairman of this committee.
- The aim is to evaluate the current cryptographic inventory using a ‘Cryptography Bill of Materials’ (CBOM) to protect against quantum attacks.
- Quantum technology can bring revolutionary changes in data processing and security as compared to the old systems, keeping this in mind RBI has taken this step.
- This is a committee of 8 members, other members of this panel include Sunil Kumar, Additional Secretary, Department of Science and Technology, Dilip Asbe, Deputy Managing Director of State Bank of India, Manoj Kumar Jain, Chief Executive of NPCI, Group Coordinator of Ministry of Electronics and Information Technology. Deputy Secretary has been appointed.
today’s history
- In 1948, the assassination trial of Mahatma Gandhi began.
- The Copyright Bill was approved in 1957, it came into force on 21 January 1958.
- Jawaharlal Nehru, the first Prime Minister of independent India, died in 1964.
- In 2010, India successfully tested Dhanush and Prithvi 2 missiles in Chandipur, Orissa.
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