1. Union Government of India and the World Bank on 29th May 2014 signed the Loan Agreement for World Bank (IDA) assistance of 1006.20 million US dollar for Sarva Shiksha Abhiyan III, the largest ongoing Education for All programme in the world.
2. The Reserve Bank of India (RBI,) tightened merger rules for non-bank finance companies (NBFCs) to ensure fit and proper character of the management of NBFC. The RBI on 26 May 2014 notified the Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014.
3. Foreign exchange reserves increased by USD 15.5 billion in the financial year ended March 2014. This was revealed by Reserve Bank of India (RBI) data on the sources of variation in foreign exchange reserves during 2013-14 released on 26 May 2014.
1. Indian Navy and Republic of Singapore Navy (RSN) conducted annual bilateral naval exercises named SIMBEX 2014 in Andaman Sea. The 21st series of SIMBEX hosted by India was conducted from 22 May to 28 May 2014.
2. Former Intelligence Bureau Chief Ajit Doval was appointed as the National Security Adviser on 30 May 2014. He will assume the office on 31 May 2014.
3. The Vice President of India Shri Hamid Ansari on 29 May 2014 presented the Malti Devi Gyan Peeth Puraskar-2014. The award was given to fifteen outstanding teachers from girls higher secondary schools in Punjab. The awardees were facilitated with 1 lakh rupees cash, appreciation letter and a Robe of Honour.
4. Film Winter Sleep was honoured with Palme d’Or Award at the 67th Cannes Film Festival held in Cannes from 16 May to 25 May 2014.
5. Mukul Rohatgi was appointed as the 14th Attorney-General of India on 28 May 2014. He will succeed Gulam Vahanvati. Rohatgi represented the Gujarat government in the Supreme Court in many cases like 2002 Gujarat riots, Zahira Sheikh and Best Bakery cases.
6. Vishwanath Tripathi, eminent Hindi writer on 29 May 2014 was awarded with the prestigious Vyas Samman for the year 2013. The literary prize carries a citation and a cash amount of 2.5 lakh rupees and memento. He received the award for his work Vyomkesh Darvesh at 23rd edition of the annual ceremony.
1. BG Srinivas, the President and member of the board of Infosys resigned on 28 May 2014. The resignation will be effective from 10 June 2014. Srinivas has served Infosys for 15-years and was appointed as the company President in January 2014 along with UB Pravin Rao.
2. The Competition Commission of India (CCI) on 28 May 2014 approved the British retail major, Tesco’s plan to purchase 50% stake in Tata Group firm Trent Hypermarket. This is the first FDI transaction in multi-brand retail segment, since the sector was opened up in September 2012.
3. Domestic e-retailer Flipkart on 21 May 2014 announced that it has acquired rival and leading fashion e-tailer Myntra.com for 300 million US dollar. This is the largest-ever deal in the e-commerce market of India.
4. Hindustan Motors halted the production of India’s iconic car Ambassador on 25 May 2014. The Ambassador was the first car to be made in India.
5. ONGC Videsh Limited (OVL) and gas producer Rosneft signed a deal on 25 May 2014 to jointly explore hydrocarbons in the offshore Arctic. Rosneft is the largest oil and gas producer of Russia.
6. Reliance Industries Limited (RIL) announced on 29 May 2014 to buy a majority stake of about 78 percent in Network18 Media and Investments for 4000 crore rupees.
1. UN secretary General Ban Ki-moon on 29 May 2014 awarded the prestigious Dag Hammarskjold medal to the eight Indian soldiers, who lost their lives in peacekeeping operations in 2013.
2. Japanese national, Hiroshi Naka was appointed as the Vice President and Auditor General of World Bank. The appointment was announced by the World Bank President Jim Yong Kim on 23 May 2014. He will take the charge as the Vice President in July 2014.
3. The US Air Force on 30 May 2014 deployed two Global Hawks on Misawa airbase in Northern Japan. Global Hawk is an advanced long-distance surveillance drones.
1. Mercedes driver Nico Rosberg of Germany on 25 May 2014 won Monaco Grand Prix of Formula One. This was his second victory of the season and fifth of his career.
2. China won Uber Cup 2014 of badminton on 24 May 2014. China team defeated the Japan team 3-1 in the final held at Siri Fort Complex in New Delhi.
3. Japan won the Thomas Cup 2014 of badminton on 25 May 2014. Japan team defeated the Malaysian team 3-2 in the finals held at Siri Fort Complex in New Delhi. This was Japan’s first maiden Thomas Cup.
4. Japan won the AFC Women's Asian Football Cup 2014 on 25 May 2014. In the final held in Vietnam, Japan football team defeated defending champion Australia 1-0. This is Japan’s first-ever AFC Women’s Asian Cup since it started competing in the event in 1977.