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05th May Current Affairs – Top News of the Day

Today’s Current Affairs

05th May  2023 Current Affairs are incorporated with the important news that made the current affairs headlines for banking, UPSC or other competitive exams. Daily Current Affairs is the complete bag of important news that is held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the Top News of the Day for 05th May 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz. 

Here is the Current Affairs 05th May 2023 covering the following news headlines: World Portuguese Language Day, International Firefighters Day, Global Chess League, India’s unemployment rate, Reserve Bank of India.

National News

1. Sri Lanka’s Dialog Axiata and Bharti Airtel sign binding term sheet

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Dialog Axiata, Sri Lanka’s largest telecommunications provider and a subsidiary of Malaysian Axiata, has announced a binding term sheet with India’s Bharti Airtel for the merger of their Sri Lankan subsidiaries. The proposed transaction will grant Airtel a stake in Dialog, representing the fair value of Airtel Lanka, and will allow Airtel access to a large customer base in the island nation.

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International News

2. JPMorgan Acquires First Republic Bank Amidst Recent Failures of Major US Banks

JPMorgan Acquires First Republic Bank

American regulators announced that First Republic Bank had been taken over and that an agreement had been reached to sell the bank to JPMorgan Chase & Co. This marks the third major U.S. financial institution to fail in just two months. JPMorgan is set to acquire $173 billion in loans and around $30 billion in securities, which includes $92 billion in deposits from First Republic Bank, but they are not taking on the bank’s corporate debt or preferred stock.

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3. NTPC Group’s total installed capacity reaches 72,304 MW with first overseas capacity addition in Bangladesh

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State-owned power conglomerate NTPC Group has achieved a significant milestone in the power sector by expanding its installed capacity to 72,304 MW. This growth includes the recent integration of the 660 MW Unit-1 of the Maitree Super Thermal Power Plant (MSTPP) in Rampal, Bangladesh, marking NTPC’s first overseas capacity addition.

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States News

4. Uttar Pradesh govt plans ‘Ramaland’ in Ayodhya modelled on Disneyland

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Ayodhya as a global tourism hotspot, the Uttar Pradesh government is planning to develop a theme park ‘Ramaland’ modelled on Disneyland to narrate the story of Lord Ram. With Ramaland, the tourism department is looking to attract children and adults alike to showcase the legendary tales from Ramayan in the template of ‘learning with entertainment’.

Important takeaways for all competitive exams: 

  • Uttar Pradesh Chief minister: Yogi Adityanath;
  • Uttar Pradesh Capital: Lucknow (Executive Branch);
  • Uttar Pradesh Governor: Anandiben Patel.

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Appointments News

5. Delhi HC appoints former Karnataka HC judge as Basketball Federation of India administrator

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Former judge of the Karnataka High Court, P Krishna Bhat, has been appointed by the Delhi High Court as the administrator of the Basketball Federation of India (BFI) to conduct elections in the organization. The appointment is effective immediately, and the administrator will continue to function until a newly-elected body takes charge of BFI.

Important takeaways for all competitive exams: 

  • Basketball Federation of India Founded: 1950;
  • Basketball Federation of India Headquarters: New Delhi.

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6. Polavarapu Mallikharjuna Prasad to be next Coal India chief

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The Public Enterprises Selection Board (PSEB) recommended Central Coalfields CMD Polavarapu Mallikharjuna Prasad as the next Chairman and Managing Director of Coal India (CIL). Prasad is expected to take the charge of India’s largest coal miner accounting for almost 80 per cent of the mined commodity from July 1.

Important takeaways for all competitive exams: 

  • Coal India Headquarters: Kolkata;
  • Coal India Founded: November 1975.

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Banking News

7. RBI, BIS launch fourth edition of G20 TechSprint competition

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The Reserve Bank of India (RBI) and the Bank for International Settlements (BIS) have announced the launch of the G20 TechSprint 2023, a global competition aimed at improving cross-border payments through innovative technology solutions. The fourth edition of the competition was unveiled on May 4, and it is open to global innovators. The G20 TechSprint 2023 competition is open to developers from around the world to submit their applications from May 4 to June 4, 2023. The competition will conclude around August/September 2023.

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Agreements News

8. India, Israel sign MoU for industrial research and development cooperation

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India and Israel have signed a Memorandum of Understanding (MoU) on industrial research and development cooperation, marking a significant milestone in their scientific and technological partnership, the Ministry of Science & Technology said. The collaboration aims to enable joint industrial research and development projects in various high-tech fields such as artificial intelligence, quantum and semiconductors, synthetic biology, healthcare, aerospace, sustainable energy, and agriculture, among others.

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Economy News

9. India’s unemployment rate in April rises to 8.11% from 7.8% in March

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India’s unemployment rate climbed to a four-month high of 8.11% in April 2023, according to data from the research firm Centre for Monitoring India Economy. The nationwide joblessness rate rose from 7.8% in March, with urban unemployment increasing to 9.81% from 8.51% in the same period. Rural unemployment, however, fell marginally to 7.34% in April from 7.47% a month ago.

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Summits and Conferences News

10. Foreign Ministers of SCO member countries meet in Goa

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The foreign ministers of eight member countries of the Shanghai Cooperation Organisation (SCO) are meeting in Goa on May 4 and 5. This meeting will set the stage for the SCO Leaders’ Summit to be held in July in New Delhi. India, the host country, attaches special importance to the SCO in promoting multilateral, political, security, economic, and people-to-people interactions in the region. India’s theme for its Chairmanship of SCO in 2023 is ‘SECURE-SCO’.

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Sports News

11. Dubai becomes the host for the inaugural edition of the Global Chess League

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Global Chess League (GCL), a joint venture between FIDE and Tech Mahindra, announced Dubai as the venue for the inaugural edition. In the presence of key dignitaries such as Dr. Aman Puri, Consul General of India, Dubai, Viswanathan Anand, five-time world chess champion, and Deputy President, FIDE, CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, Parag Shah, EVP & Head, Mahindra Accelo and Member, Global Chess League Board, and Jagdish Mitra, Chairperson, Global Chess League Board, in the Gulf city.

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12. Olympic silver medallist Nijel Amos gets 3-year ban for doping

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According to the Athletics Integrity Unit, Nijel Amos, who won a silver medal in the men’s 800m at the 2012 Olympics, has been given a three-year ban for doping. Amos, who hails from Botswana, tested positive for the banned substance GW1516 in the lead-up to last year’s track world championships. However, he received a reduction on the standard four-year ban for admitting to the charges. Unfortunately, this means that Amos will not be able to participate in the Paris Olympics next year due to the ban.

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Important Days

13. International Firefighters’ Day 2023 observed on 04th May

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International Firefighters Day is a day dedicated to recognizing and honouring the brave individuals who put their lives on the line every day to save others. These firefighters demonstrate courage, strength, and selflessness as they work tirelessly to protect their communities, often putting themselves in harm’s way. On May 4th each year, we have the opportunity to express our gratitude and appreciation for their unwavering commitment to keeping us safe from fires and other hazards.

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14. World Portuguese Language Day 2023 observed on 5th May

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The 40th session of UNESCO’s General Conference, in 2019, designated May 5th as “World Portuguese Language Day,” in honor of the Portuguese language and Lusophone cultures. The Community of Portuguese-speaking Countries (CPLP), an intergovernmental organization that includes countries where Portuguese is spoken, established this date in 2009, and has been in official partnership with UNESCO since 2000.

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Obituaries News

15. Tori Bowie, Olympic medal-winning US sprinter and former world champion, passes away at 32


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Former 100m world champion sprinter from the United States of America, Tori Bowie, died at the age of 32. The American was crowned world champion in 2017 and won three Olympic medals at the Rio Games in 2016. She won the Olympic Gold with the USA relay team at the Rio Olympics in 2016. Tori was born and brought in Mississippi where she played basketball as a child before taking up track events.

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