May 2026 Compilation · Monthly Current Affairs

Economy and Finance

GST gross collections at Rs 2,42,702 crore in April 2026, up 8.7 per cent

1 May 2026 | GST Council Secretariat / GST portal (monthly data for April 2026)

The GST portal's monthly data for April 2026, as on 30 April 2026, shows total gross GST revenue of Rs 2,42,702 crore, against Rs 2,23,265 crore in April 2025, growth of 8.7 per cent. The figures are provisional and may vary slightly on finalisation.

Gross domestic revenue was Rs 1,85,122 crore (up 4.3 per cent) and gross import revenue was Rs 57,580 crore (up 25.8 per cent). Total refunds were Rs 31,793 crore (up 19.3 per cent), leaving total net GST revenue of Rs 2,10,909 crore, up 7.3 per cent.

Exam takeaway: Gross GST revenue is collections before refunds; net revenue is gross revenue minus refunds.

Quick revision: GST gross collections April 2026: Rs 2,42,702 crore, up 8.7%; net Rs 2,10,909 crore.

Economy and Finance

Finance Ministry notifies FDI easing for foreign firms with up to 10 per cent Chinese shareholding

2 May 2026 | The Hindu (PTI)

The Finance Ministry has notified a decision allowing overseas companies with Chinese shareholding of up to 10 per cent to invest in India under the automatic route under FEMA, The Hindu reported citing PTI on 2 May 2026. The Union Cabinet had approved amendments to Press Note 3 of 2020 of the DPIIT in March, and the DPIIT notified them through Press Note 2 (2026 series).

Foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent are eligible in sectors where FDI is allowed under the automatic route, subject to sectoral conditions. The relaxed rules do not apply to entities registered in China, Hong Kong or other countries sharing land borders with India. Earlier, even a single share held by a shareholder from these countries needed mandatory approval; now the restrictions apply only to beneficial owners, as defined in the Prevention of Money-laundering Act, 2002.

Exam takeaway: Press Note 3 of 2020 of the DPIIT set the approval requirement for investments from countries sharing a land border with India.

Quick revision: FDI easing notified under FEMA: up to 10% Chinese/HK shareholding allowed under automatic route (Hindu/PTI, 2 May 2026).

Economy and Finance

MoSPI releases Uniform Guideline for compiling GSVA estimates with base year 2022-23

7 May 2026 | Press Information Bureau (MoSPI)

PIB said on 7 May 2026 that the Ministry of Statistics and Programme Implementation (MoSPI) released the Uniform Guideline for compilation of Gross State Value Added (GSVA) estimates with base year 2022-23. MoSPI has updated the base year of the National Accounts to 2022-23, and States and Union Territories are required to adopt the new base year for compiling Gross State Domestic Product (GSDP).

PIB gave the formula GSDP = GSVA + Net Taxes on Products. A Sub-Committee on Regional Accounts chaired by Prof. Ravindra H. Dholakia guided the work. At present 34 States/UTs compile GSDP with base year 2011-12, except Lakshadweep and Dadra and Nagar Haveli and Daman and Diu. The draft guideline was placed on the MoSPI website on 7 April 2026 for feedback up to 27 April 2026.

Exam takeaway: The Finance Commission uses GSDP estimates to assess States' fiscal capacity when recommending tax devolution, PIB said.

Quick revision: MoSPI GSVA guideline, base year 2022-23; GSDP = GSVA + net taxes on products (PIB, 7 May 2026).

Economy and Finance

Goyal at AmCham summit: American industry commitments over 60 billion dollars in six months

21 May 2026 | Press Information Bureau

PIB said Commerce and Industry Minister Piyush Goyal told the American Chamber of Commerce's Annual Leadership Summit in New Delhi on 21 May 2026 that commitments from American industry in the last six months are estimated at upwards of 60 billion dollars, including major data centre investments by companies such as Amazon and Google.

He said the Export Promotion Mission will help MSMEs get the certifications needed to join global supply chains, and that India will continue to be the world's fastest-growing economy for at least the next 25 years.

Exam takeaway: Statements by ministers are claims by the speaker; figures here are as quoted in the PIB release.

Quick revision: Goyal at AmCham 21 May 2026: US commitments over USD 60 bn in six months (PIB).

Economy and Finance

SIDBI 37th Foundation Day: FM says SIDBI must become a market maker and risk-sharing partner

25 May 2026 | Press Information Bureau

PIB said Finance Minister Nirmala Sitharaman, at SIDBI's 37th Foundation Day in Mumbai on 25 May 2026, launched portals and initiatives for MSME credit delivery and modernisation of rural industries, and said SIDBI's role must expand beyond lending to being a market maker and risk-sharing partner.

She said MSMEs contribute nearly 35 per cent of manufacturing output, 48 per cent of exports and about 31 per cent of GDP, and that the Cabinet's January 2026 additional equity support of Rs 5,000 crore will let SIDBI add 25 lakh new MSME beneficiaries by 2028.

Exam takeaway: SIDBI is the apex financial institution for the MSME sector.

Quick revision: SIDBI 37th Foundation Day: Rs 5,000 cr equity; 25 lakh new MSME beneficiaries by 2028 (PIB, 25 May).

Economy and Finance

India's total forex reserves at USD 681.38 billion as on 22 May 2026

29 May 2026 | Reserve Bank of India

The RBI's Weekly Statistical Supplement extract released on 29 May 2026 shows India's total reserves at Rs 65,23,216 crore, or USD 681,384 million, as on 22 May 2026. The week's variation was a fall of USD 7,511 million.

Foreign currency assets were Rs 51,98,620 crore (USD 543,032 million) and gold Rs 10,98,889 crore (USD 114,786 million). State governments' loans and advances from the RBI stood at Rs 9,239 crore on 22 May.

Exam takeaway: Foreign currency assets are the largest component of India's forex reserves.

Quick revision: Forex reserves 22 May 2026: USD 681.38 bn, down USD 7.51 bn on the week (RBI WSS).

Government Schemes

Census 2027: Houselisting field operations begin in six States/UTs; Self-Enumeration opens in five more

1 May 2026 | Press Information Bureau

PIB said on 1 May 2026 that field operations for Houselisting and Housing Census, Phase 1 of Census 2027, began in Andhra Pradesh, Arunachal Pradesh, Haryana, Chandigarh, Madhya Pradesh and Chhattisgarh after the 15-day Self-Enumeration period. House-to-house visits by enumerators continue until 30 May 2026.

Self-Enumeration, introduced for the first time in Census 2027, also began on 1 May in the MCD area of Delhi, Rajasthan, Maharashtra, Meghalaya and Jharkhand and runs until 15 May 2026. House-to-house operations there are from 16 May to 14 June 2026. Around 82 lakh households had used the facility through the portal se.census.gov.in. In Bihar, house-to-house operations run from 2 to 31 May 2026.

Exam takeaway: Data collected under the Census Act, 1948 is confidential and used for statistical purposes and planning, PIB said.

Quick revision: Census 2027 Phase 1: Houselisting field work from 1 May; Self-Enumeration first time (82 lakh households).

Government Schemes

Mandaviya inaugurates ESIC hospital at Doddaballapur; free health check-up drive for workers aged 40+ from 7 May

3 May 2026 | Press Information Bureau

Labour Minister Dr Mansukh Mandaviya inaugurated the new 100-bedded ESIC Hospital at Doddaballapur, Karnataka, on 3 May 2026 and virtually laid the foundation stone of a 100-bedded ESIC Hospital at Bellary, PIB reported.

He said a nationwide health screening drive for workers aged 40 and above, under the labour codes framework, will start from 7 May in ESIC hospitals. He said the number of insured persons has doubled from about 2 crore to 4 crore, and that social security coverage has risen from 19 per cent in 2015 to over 64 per cent, citing the ILO. He also said 20 ESIC medical colleges have been set up, with 40 to 50 per cent of seats reserved for children of insured persons.

Exam takeaway: ESIC (Employees' State Insurance Corporation) runs the health insurance scheme for workers.

Quick revision: ESIC hospital at Doddaballapur opened; free check-ups for workers 40+ from 7 May (PIB, 3 May 2026).

Government Schemes

RBI Panaji holds financial literacy camp for migrant workers; PMJJBY, PMSBY and APY highlighted

4 May 2026 | Press Information Bureau (PIB Mumbai)

PIB Mumbai reported on 4 May 2026 that the RBI's Financial Inclusion Development Department, Panaji, held a Financial Literacy Awareness Camp for migrant workers at Patto on 30 April 2026, marking International Labour Day. Around 80 participants were told about saving habits, government schemes such as PMJJBY, PMSBY and APY, e-KYC, digital transactions and protection against fraud.

The camp also offered on-the-spot bank account opening and enrolment in government schemes through SBI and Canara Bank. The RBI message highlighted was 'RBI Kehta Hai, Jaankar Baniye, Satark Rahiye'.

Exam takeaway: PMJJBY and PMSBY are insurance schemes and APY is a pension scheme, all run through banks.

Quick revision: RBI camp for migrant workers: PMJJBY, PMSBY, APY covered; accounts opened on the spot (PIB, 4 May 2026).

Government Schemes

Cabinet approves Mission for Cotton Productivity with Rs 5,659.22 crore outlay

5 May 2026 | Press Information Bureau

The Cabinet approved Rs 5,659.22 crore for the Mission for Cotton Productivity for 2026-27 to 2030-31, PIB said on 5 May 2026. The mission aligns with the 5F vision (Farm to Fibre to Factory to Fashion to Foreign) and will be implemented by the Ministries of Agriculture and Farmers Welfare and of Textiles.

It aims for 498 lakh bales of cotton by raising lint productivity from 440 kg/ha to 755 kg/ha by 2031, benefitting about 32 lakh farmers. It focuses on high-yielding, pest-resistant seeds, 140 districts in 14 States, 2,000 ginning and processing factories and traceability under Kasturi Cotton Bharat, targeting trash below 2 per cent.

Exam takeaway: The 5F vision links the full textile value chain from farm to foreign markets.

Quick revision: Mission for Cotton Productivity: Rs 5,659.22 crore, 498 lakh bales target by 2031 (PIB, 5 May 2026).

Government Schemes

Cabinet approves three railway multitracking projects worth Rs 23,437 crore

5 May 2026 | Press Information Bureau

Carried forward from 5 May 2026. The Cabinet Committee on Economic Affairs approved three Railways projects with a total cost of about Rs 23,437 crore: Nagda-Mathura, Guntakal-Wadi and Burhwal-Sitapur 3rd and 4th lines. They are to be completed up to 2030-31.

The projects cover 19 districts in Madhya Pradesh, Rajasthan, Uttar Pradesh, Karnataka, Andhra Pradesh and Telangana, add about 901 km to the network and improve connectivity to about 4,161 villages with a population of about 83 lakh. They are planned on the PM-Gati Shakti National Master Plan.

Exam takeaway: Multitracking adds extra lines to congested routes to increase capacity without building a new network.

Quick revision: CCEA 5 May 2026: three rail projects, Rs 23,437 crore, 901 km, six States (PIB).

Government Schemes

PM launches projects worth about Rs 9,400 crore in Hyderabad, including Zaheerabad industrial area and PM MITRA Park in Warangal

10 May 2026 | Press Information Bureau

PIB said that on 10 May 2026 Prime Minister Narendra Modi laid foundation stones, inaugurated and dedicated to the nation development projects worth around Rs 9,400 crore in Hyderabad, Telangana.

The Prime Minister described the Zaheerabad Industrial Area as part of the national mission to develop industrial corridors and as an 'Industrial Smart City'. He said the PM MITRA Park in Warangal will help the textile sector, with units eligible for benefits from Union Government schemes including the PLI scheme.

Exam takeaway: PM MITRA stands for Pradhan Mantri Mega Integrated Textile Region and Apparel parks, and is a textile sector scheme.

Quick revision: PM in Hyderabad: Rs 9,400 crore projects; Zaheerabad industrial area; PM MITRA Park Warangal (PIB, 10 May).

Government Schemes

VB-G RAM G Act notified: 125 days of rural employment guarantee from 1 July 2026, MGNREGA to be repealed

11 May 2026 | Press Information Bureau

PIB said that on 11 May 2026 the Government notified the commencement of the Viksit Bharat - Guarantee for Rozgar and Ajeevika Mission (Gramin) [VB-G RAM G] Act, 2025, to be rolled out nationwide from 1 July 2026. From the same date the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 stands repealed.

Every rural household whose adult members volunteer for unskilled manual work is entitled to a statutory guarantee of 125 days of wage employment each financial year. The Centre's 2026-27 budget allocation is Rs 95,692.31 crore, the highest at Budget Estimate stage for a rural employment programme, and total outlay including States' share is estimated to exceed Rs 1.51 lakh crore. Wages are to be paid weekly or within 15 days, with delay compensation. Existing e-KYC verified MGNREGA job cards stay valid until new Gramin Rozgar Guarantee Cards are issued.

Exam takeaway: MGNREGA gave 100 days of employment; the new Act raises the statutory guarantee to 125 days, as stated by PIB.

Quick revision: VB-G RAM G Act from 1 Jul 2026: 125 days, Rs 95,692.31 crore; MGNREGA repealed (PIB, 11 May).

Government Schemes

Cabinet approves Kharif MSP for 2026-27: paddy (common) at Rs 2,441 per quintal

13 May 2026 | Press Information Bureau

The Cabinet Committee on Economic Affairs approved on 13 May 2026 an increase in the Minimum Support Prices (MSP) for 14 Kharif crops for Marketing Season 2026-27, PIB said. The highest absolute increases over the previous year are for sunflower seed (Rs 622 per quintal), cotton (Rs 557), nigerseed (Rs 515) and sesamum (Rs 500).

From PIB's table, paddy (common) MSP is Rs 2,441 per quintal against Rs 2,369 in 2025-26, an increase of Rs 72, and tur/arhar is Rs 8,450 per quintal. The table also shows each crop's cost, margin over cost and the increase over 2013-14.

Exam takeaway: MSP is the price at which the government is willing to buy a crop, announced for Kharif and Rabi seasons.

Quick revision: Kharif MSP 2026-27: 14 crops; paddy common Rs 2,441; highest rise sunflower Rs 622 (PIB, 13 May).

Government Schemes

Cabinet approves Rs 37,500 crore scheme for surface coal and lignite gasification

13 May 2026 | Press Information Bureau

The Union Cabinet approved on 13 May 2026 a Scheme for Promotion of Surface Coal/Lignite Gasification Projects with a financial outlay of Rs 37,500 crore. PIB said the scheme advances the national target of gasifying 100 million tonnes of coal by 2030 and aims to cut import dependence on LNG (more than 50% imported), urea (about 20%), ammonia (about 100%) and methanol (about 80 to 90%).

As an accompanying reform, the Government extended coal linkage tenure up to 30 years under the 'Production of Syngas leading to Coal Gasification' sub-sector in the Non-Regulated Sector linkage auction framework.

Exam takeaway: Syngas, produced by gasifying coal, can be converted into fertiliser, methanol and other products that India now partly imports.

Quick revision: Coal gasification scheme: Rs 37,500 crore; 100 MT target by 2030; linkage up to 30 years (PIB, 13 May).

Government Schemes

Jal Shakti Minister launches State Water Reforms Framework at Brahmaputra Board meeting

19 May 2026 | Press Information Bureau

PIB said that at the 14th meeting of the High-Powered Review Board of the Brahmaputra Board in Guwahati on 19 May 2026, chaired by Jal Shakti Minister C. R. Patil, the State Water Reforms Framework (SWRF) was launched to strengthen water governance reforms across States and UTs.

The Minister said water security is central to the vision of Viksit Bharat @2047 and that sustainable water management needs governance systems, policies, institutions, technology and community participation.

Exam takeaway: The Brahmaputra Board is a statutory body under the Ministry of Jal Shakti for the Brahmaputra and Barak basins.

Quick revision: SWRF launched at 14th Brahmaputra Board HPRB meeting, 19 May 2026 (PIB).

Government Schemes

Education Ministry clarifies School Management Committee Guidelines 2026 do not cover certain schools

21 May 2026 | Press Information Bureau

PIB said the Ministry of Education launched the School Management Committee (SMC) Guidelines 2026 on 6 May 2026 to strengthen community participation and decentralised school governance. After representations on their applicability under Section 21 of the RTE Act, 2009, the Ministry clarified by a communication dated 20 May 2026 to all States and UTs that schools mentioned in Section 2(n)(iv) of the RTE Act would not be covered by the Guidelines, subject to the conditions in the release.

The release names the aim as community ownership of schools by bringing all stakeholders together on one platform.

Exam takeaway: School Management Committees are provided for under Section 21 of the RTE Act, 2009.

Quick revision: SMC Guidelines 2026 launched 6 May; clarification 20 May on Section 2(n)(iv) schools (PIB).

Government Schemes

MGNREGS to continue till VB-G RAM G Act begins on 1 July 2026; Rs 26,971 crore mother sanctions issued

23 May 2026 | Press Information Bureau

PIB said a review meeting on rollout of the VB-G RAM G Act, 2025, chaired by Rural Development Secretary Rohit Kansal on 23 May 2026, advised States and UTs to complete preparations in a time-bound manner for the transition from Mahatma Gandhi NREGS to the revised framework.

The release says a labour budget of over 45 crore persondays has been approved for June 2026 and Rs 26,971 crore of mother sanctions issued under MGNREGS, so that the scheme continues smoothly till the VB-G RAM G Act commences on 1 July 2026.

Exam takeaway: A labour budget is the estimate of persondays of work to be generated under the rural employment scheme.

Quick revision: MGNREGS continues till VB-G RAM G Act on 1 July 2026; June labour budget 45 crore persondays (PIB, 23 May).

Government Schemes

BHAVYA scheme: guidelines released for 100 industrial parks with Rs 33,660 crore outlay

23 May 2026 | Press Information Bureau

Carried forward from 23 May 2026. PIB said DPIIT released operational guidelines for the BHAVYA scheme, a Central Sector Scheme to develop 100 investment-ready industrial parks over six years, 2026-27 to 2031-32, with an outlay of about Rs 33,660 crore. In the first phase up to 50 parks will be taken up through a challenge-based competitive selection.

Minimum land is 100 acres for non-hilly States and 25 acres for hilly States, northeastern States, UTs and smaller States, with parks up to 1,000 acres allowed. Both greenfield and eligible brownfield parks are covered.

Exam takeaway: Challenge-based selection ranks State proposals on objective parameters such as connectivity and infrastructure quality.

Quick revision: BHAVYA: 100 industrial parks, Rs 33,660 cr, 2026-27 to 2031-32 (PIB, 23 May guidelines).

Government Schemes

Cabinet approves SARTHAK-PDS with Rs 25,530 crore Central share in the 16th Finance Commission cycle

27 May 2026 | Press Information Bureau

PIB said the Cabinet Committee on Economic Affairs approved continuation of the 'Scheme for Assistance in Ration Transport and Handling-Income with Automation in PDS' (SARTHAK-PDS) as an umbrella scheme for the 16th Finance Commission cycle, with an outlay of Rs 25,530 crore as Central share. It also revised norms of central assistance for intra-State movement and handling of foodgrains and FPS dealers' margin.

The umbrella integrates the scheme for assistance to State agencies for intra-State movement of foodgrains and FPS dealers' margin under NFSA and the SMART PDS scheme. It aims to modernise PDS using AI, machine learning, NLP and blockchain, State Command Control Centres and unified databases, supporting the 81.35 crore persons covered under the National Food Security Act, 2013.

Exam takeaway: FPS means Fair Price Shop; the FPS dealers' margin is the commission paid to ration shop owners.

Quick revision: SARTHAK-PDS: Rs 25,530 crore Central share; integrates SMART PDS; 81.35 crore NFSA beneficiaries (PIB, 27 May).

Government Schemes

PM SVANidhi: more than 1.12 crore loans disbursed, Rs 17,800 crore

30 May 2026 | Press Information Bureau

A PIB explainer of 30 May 2026 says PM SVANidhi, launched in 2020, has supported street vendors with collateral-free loans, digital adoption, institutional credit access and social security coverage. It reports more than 1.12 crore loans disbursed, over 75 lakh beneficiaries and loans worth over Rs 17,800 crore.

The release says vendors earlier had limited access to formal credit and depended on informal credit at very high interest rates.

Exam takeaway: PM SVANidhi gives collateral-free working capital loans to street vendors.

Quick revision: PM SVANidhi: 1.12 crore loans; 75 lakh beneficiaries; Rs 17,800 crore (PIB, 30 May).

Government Schemes

PM-SETU: first Strategic Investment Plan cleared for Visakhapatnam ITI Cluster

30 May 2026 | Press Information Bureau

PIB said the National Steering Committee of the Rs 60,000 crore PM-SETU (Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs) scheme approved the first Strategic Investment Plan, for the Visakhapatnam ITI Cluster in Andhra Pradesh, submitted by ArcelorMittal Nippon Steel India with academic partner NAMTECH.

The approval at the 3rd NSC meeting, chaired by MSDE Secretary Debashree Mukherjee, makes Andhra Pradesh the first State to operationalise an industry partnership under PM-SETU, aimed at turning Government ITIs into industry-managed, outcome-oriented institutions.

Exam takeaway: ITIs are Industrial Training Institutes offering skill training.

Quick revision: PM-SETU (Rs 60,000 cr): first SIP cleared, Visakhapatnam ITI Cluster (PIB, 30 May).

Appointments, Awards and Important Days

Ravi K appointed Chairman and Managing Director of HAL

1 May 2026 | The Economic Times (ANI)

Hindustan Aeronautics Limited (HAL) appointed Kota Ravi as its 22nd Chairman and Managing Director as Dr D K Sunil stepped down on Friday, 1 May 2026, The Economic Times reported citing ANI. Ravi was earlier HAL's Director (Operations) and has over 30 years of experience in aerospace and defence, manufacturing and electronics.

The report says he led strategic planning and played a key role in HAL securing Maharatna status, and is a Mechanical Engineering graduate of Malnad College of Engineering, Karnataka and an alumnus of IIM Ahmedabad.

Exam takeaway: HAL is a defence public sector undertaking, and the report links its Maharatna status to the appointee's earlier role.

Quick revision: HAL CMD: Ravi K (22nd) succeeds Dr D K Sunil, 1 May 2026 (ET/ANI).

Appointments, Awards and Important Days

Prasoon Joshi appointed Chairman of Prasar Bharati

2 May 2026 | Akashvani News (All India Radio)

The Ministry of Information and Broadcasting appointed lyricist, writer and communication expert Prasoon Joshi as Chairman of Prasar Bharati, India's public service broadcaster, Akashvani News reported on 2 May 2026. Information and Broadcasting Minister Ashwini Vaishnaw welcomed the appointment.

Joshi earlier served as Chairperson of the Central Board of Film Certification (CBFC) in Mumbai.

Exam takeaway: Prasar Bharati is India's public service broadcaster, covering Doordarshan and All India Radio.

Quick revision: Prasoon Joshi named Prasar Bharati Chairman (AIR News, 2 May 2026); earlier CBFC Chairperson.

Appointments, Awards and Important Days

Medha Patkar and Perumal Murugan selected for Sukumar Azhikode Birth Centenary National Award

3 May 2026 | The Hindu

Social activist Medha Patkar and Tamil writer Perumal Murugan have been selected for the Sukumar Azhikode Birth Centenary National Award, according to a release from the Sukumar Azhikode Trust, The Hindu reported on 3 May 2026.

The award carries a cash prize of Rs 50,000 and a citation. The selection committee was headed by K. T. Thomas, with M. N. Karasseri, Ravi Dece and Paul Manalil as members.

Exam takeaway: A birth centenary award marks 100 years since the birth of the person it is named after.

Quick revision: Sukumar Azhikode centenary award: Medha Patkar, Perumal Murugan; Rs 50,000 (Hindu, 3 May 2026).

Appointments, Awards and Important Days

Shashi Shekhar Vempati appointed Chairperson of the CBFC

6 May 2026 | The Economic Times (PTI)

Shashi Shekhar Vempati, former CEO of Prasar Bharati, was appointed Chairperson of the Central Board of Film Certification (CBFC) by the government on Wednesday, 6 May 2026, The Economic Times reported citing PTI.

He succeeds Prasoon Joshi, who moved to head Prasar Bharati (appointed 2 May 2026).

Exam takeaway: The CBFC certifies films for public exhibition in India.

Quick revision: CBFC Chairperson: Shashi Shekhar Vempati succeeds Prasoon Joshi (ET/PTI, 6 May 2026).

Appointments, Awards and Important Days

Ashok Lahiri takes charge as Vice Chairman of NITI Aayog

8 May 2026 | The Hindu BusinessLine (PTI)

Economist Ashok Kumar Lahiri took charge as Vice Chairman of NITI Aayog on Friday, 8 May 2026, replacing Suman Bery, The Hindu BusinessLine reported citing PTI. Lahiri is a former Chief Economic Adviser to the Government of India and a member of the 15th Finance Commission.

NITI Aayog said on X that his experience in academia, public institutions and international organisations will strengthen its efforts towards evidence-based policymaking. His appointment was reported in the 24 and 25 April editions.

Exam takeaway: NITI Aayog replaced the Planning Commission and serves as the government's policy think tank.

Quick revision: Ashok Lahiri took charge as NITI Aayog Vice Chairman on 8 May 2026, replacing Suman Bery (PTI).

Appointments, Awards and Important Days

Lt Gen N S Raja Subramani (Retd) appointed Chief of Defence Staff

9 May 2026 | Press Information Bureau

PIB said on 9 May 2026 that the Government appointed Lieutenant General NS Raja Subramani (Retd) as Chief of Defence Staff (CDS), who also functions as Secretary to the Government of India, Department of Military Affairs, from the date of assuming charge and until further orders. The present CDS, General Anil Chauhan, completes his tenure on 30 May 2026.

Raja Subramani has been Military Adviser, National Security Council Secretariat since 1 September 2025. He was earlier Vice Chief of the Army Staff (1 July 2024 to 31 July 2025) and GOC-in-C Central Command (March 2023 to June 2024). He was commissioned into the 8th Battalion of the Garhwal Rifles on 14 December 1985.

Exam takeaway: The CDS is the head of the Department of Military Affairs and the principal military adviser to the Defence Minister.

Quick revision: CDS: Lt Gen NS Raja Subramani (Retd) appointed; Gen Anil Chauhan's tenure ends 30 May 2026 (PIB, 9 May).

Appointments, Awards and Important Days

Vice Admiral Krishna Swaminathan appointed Chief of the Naval Staff

9 May 2026 | Press Information Bureau

PIB said on 9 May 2026 that the Government appointed Vice Admiral Krishna Swaminathan as Chief of the Naval Staff. The present Chief, Admiral Dinesh Kumar Tripathi, retires from service on 31 May 2026.

Swaminathan assumed charge as the 34th Flag Officer Commanding-in-Chief of the Western Naval Command on 31 July 2025. He was commissioned into the Indian Navy on 1 July 1987 and is a specialist in Communication and Electronic Warfare. He is an alumnus of the National Defence Academy, Khadakvasla.

Exam takeaway: Service chiefs are appointed by the Government and lead their service at its headquarters.

Quick revision: Navy chief: Vice Adm Krishna Swaminathan named; Adm D K Tripathi retires 31 May 2026 (PIB, 9 May).

Appointments, Awards and Important Days

Dr Ashok Kumar Panda takes charge as Chairman and Managing Director of SAIL

11 May 2026 | Press Information Bureau

PIB said on 11 May 2026 that Dr Ashok Kumar Panda assumed charge as Chairman and Managing Director of the Steel Authority of India Limited (SAIL) on 9 May 2026. He was earlier SAIL's Director (Finance), and held additional charge as Director (Commercial) for about nine months.

Dr Panda joined SAIL in 1992 as a Management Trainee (Technical) after completing a B.E. in Electrical Engineering.

Exam takeaway: SAIL is a public sector steel producer under the Ministry of Steel.

Quick revision: SAIL CMD: Dr A K Panda took charge on 9 May 2026 (PIB, 11 May).

Appointments, Awards and Important Days

National Technology Day is observed on 11 May, marking Pokhran-II

11 May 2026 | Fortune India

Fortune India reported on 11 May 2026 that India observes National Technology Day every year on 11 May to commemorate the Pokhran-II nuclear tests of 1998 under Operation Shakti, which marked India's entry into the group of nuclear-capable nations.

The day was officially declared National Technology Day by the Atal Bihari Vajpayee government in 1999 to recognise the contribution of scientists, engineers and researchers.

Exam takeaway: Operation Shakti was the codename of the 1998 Pokhran nuclear tests in Rajasthan.

Quick revision: National Technology Day, 11 May: Pokhran-II (1998, Operation Shakti); declared in 1999 (Fortune India).

Appointments, Awards and Important Days

President confers National Florence Nightingale Awards 2026 on 15 nurses

12 May 2026 | Press Information Bureau

Carried forward from 12 May 2026. PIB said President Droupadi Murmu conferred the National Florence Nightingale Awards 2026 on 15 nursing professionals at Rashtrapati Bhavan on 12 May 2026, International Nurses Day.

The nurses were honoured for exemplary service, dedication to strengthening public health delivery and commitment to community welfare.

Exam takeaway: International Nurses Day is observed on 12 May, the birth anniversary of Florence Nightingale.

Quick revision: President confers National Florence Nightingale Awards on 15 nurses, 12 May 2026 (PIB).

Appointments, Awards and Important Days

International Day of Families 2026: theme 'Families, Inequalities and Child Wellbeing'

15 May 2026 | United Nations

The UN's page for the International Day of Families gives the 2026 theme as 'Families, Inequalities and Child Wellbeing'. It says the theme underscores how widening inequalities shape family life and children's futures and calls for stronger investment in integrated, family-oriented policies.

The UN page highlights gaps in income, education, healthcare, digital access and essential services, and stresses integrated social protection including child benefits, parental leave, affordable childcare and early education.

Exam takeaway: The International Day of Families is observed every year on 15 May.

Quick revision: IDF 2026 theme: Families, Inequalities and Child Wellbeing (UN).

Appointments, Awards and Important Days

International Day of Light, 16 May: marks the first laser operation in 1960

16 May 2026 | UNESCO

UNESCO's page says the International Day of Light is celebrated on 16 May each year, on the anniversary of the first successful laser operation in 1960 by physicist and engineer Theodore Maiman.

UNESCO says the day calls for strengthening scientific cooperation and using the potential of light science for peace and sustainable development; a webinar is planned to celebrate the 2026 day.

Exam takeaway: The first working laser was demonstrated in 1960 by Theodore Maiman.

Quick revision: International Day of Light: 16 May; first laser 1960, Theodore Maiman (UNESCO).

Appointments, Awards and Important Days

PM Modi receives Sweden's Royal Order of the Polar Star, Commander Grand Cross

17 May 2026 | Government Offices of Sweden

The Swedish Government said that on Sunday 17 May 2026 Prime Minister Narendra Modi was presented with the Royal Order of the Polar Star, Commander Grand Cross, by Crown Princess Victoria in Gothenburg, in the presence of Prime Minister Ulf Kristersson.

The Order of the Polar Star was instituted in 1748 and is awarded to individuals for their personal endeavours for Sweden or Swedish interests. The Hindu reported that Mr Modi arrived in Sweden for a two-day visit and that the honour is the highest given to a Head of Government.

Exam takeaway: The Order of the Polar Star is a Swedish royal order instituted in 1748.

Quick revision: Modi receives Sweden's Royal Order of the Polar Star (Commander Grand Cross), 17 May 2026 (Govt of Sweden).

Appointments, Awards and Important Days

World Telecommunication and Information Society Day, 17 May: 'digital lifelines' theme

17 May 2026 | United Nations

The UN page says World Telecommunication and Information Society Day (WTISD) is celebrated every year on 17 May and commemorates the founding of the International Telecommunication Union (ITU), the UN agency for digital technologies.

The 2026 observance calls on governments, industry and communities to strengthen 'digital lifelines' - terrestrial networks, submarine cables, satellites and data systems - so that networks can withstand shocks and recover quickly.

Exam takeaway: The ITU is the United Nations agency for digital technologies.

Quick revision: WTISD 17 May 2026: strengthen digital lifelines; marks ITU founding (UN).

Appointments, Awards and Important Days

Saurabh Vijay assumes charge as CEO of UIDAI

18 May 2026 | Press Information Bureau

PIB said Saurabh Vijay assumed charge as Chief Executive Officer of the Unique Identification Authority of India on 18 May 2026. He is a 1998-batch IAS officer of the Maharashtra cadre and a civil engineer from IIT-Delhi.

He was earlier Principal Secretary (Expenditure) in Maharashtra's Finance Department and has served as Director at the President's Secretariat and as Advisor to the Executive Director at the World Bank.

Exam takeaway: UIDAI issues Aadhaar numbers.

Quick revision: Saurabh Vijay assumes charge as UIDAI CEO, 18 May 2026 (PIB).

Appointments, Awards and Important Days

World Bee Day, 20 May: chosen for the birth of beekeeping pioneer Anton Janša

20 May 2026 | FAO on the UN observances page

The page says World Bee Day, observed on 20 May since 2018, was declared by the UN General Assembly after efforts by the Government of Slovenia with the support of Apimondia, to raise awareness of the role of bees and other pollinators.

The date was chosen as the birthday of Anton Janša, a pioneer of modern apiculture from a Slovenian beekeeping family.

Exam takeaway: Pollinators such as bees keep food systems and ecosystems healthy.

Quick revision: World Bee Day: 20 May; since 2018; Slovenia; Anton Janša (UN/FAO).

Appointments, Awards and Important Days

International Tea Day, 21 May: 'Sustaining Tea, Supporting Communities'

21 May 2026 | FAO on the UN observances page

The FAO page for International Tea Day, 21 May, carries the 2026 line 'Sustaining Tea, Supporting Communities' and says tea supports over 13 million people, including smallholder farmers and their households.

It says the day celebrates the cultural heritage, health benefits and economic importance of tea while working to make production sustainable 'from field to cup'. The 2026 observance was set at FAO headquarters on 21 May.

Exam takeaway: International Tea Day is observed on 21 May.

Quick revision: International Tea Day 21 May: tea supports over 13 million people (FAO).

Appointments, Awards and Important Days

UPSC opens applications for direct recruitment, Advertisement No. 05/2026, till 12 June

23 May 2026 | Press Information Bureau

PIB said the UPSC invited applications for direct recruitment to various posts in the Government of India under Advertisement No. 05/2026. Candidates can apply through the Online Recruitment Application portal from 23 May 2026 to 12 June 2026.

The detailed advertisement and instructions are on the Commission's website.

Exam takeaway: UPSC direct recruitment advertisements carry the details of posts, eligibility and the apply window.

Quick revision: UPSC Advt 05/2026: direct recruitment; apply 23 May to 12 June 2026 (PIB).

Appointments, Awards and Important Days

International Day of UN Peacekeepers 2026 theme 'Invest in Peace'; two Indian peacekeepers honoured

29 May 2026 | United Nations and The Hindu

The UN's page gives the 2026 theme of the International Day of UN Peacekeepers as 'Invest in Peace', calling for resources for civilian and military peacekeepers. It says more than 51,000 personnel serve in 11 UN peacekeeping missions.

The Hindu reported that UN Secretary-General Antonio Guterres would posthumously honour two Indian peacekeepers, Lance Havildar Harbhajan Singh (MONUSCO) and Naib Subedar Sujit Kumar Pradhan (UNMISS), with the Dag Hammarskjold Medal, and present the 2025 Military Gender Advocate of the Year award to Major Abhilasha Barak of India, serving with UNIFIL.

Exam takeaway: The Dag Hammarskjold Medal honours peacekeepers who lost their lives in service.

Quick revision: UN Peacekeepers Day 29 May 2026: 'Invest in Peace'; two Indian peacekeepers honoured (UN, The Hindu).

Appointments, Awards and Important Days

General N. S. Raja Subramani assumes charge as the third Chief of Defence Staff

31 May 2026 | Press Information Bureau

PIB said General N. S. Raja Subramani assumed charge on 31 May 2026 as the third Chief of Defence Staff and Secretary, Department of Military Affairs. He said he would work towards jointness, integration and synergy in the Defence Forces and accelerate the development and induction of indigenous weapons for Aatmanirbharta.

He laid a wreath at the National War Memorial and received a Tri-Service Guard of Honour at the South Block lawns. The Economic Times reported that he succeeds General Anil Chauhan.

Exam takeaway: The CDS heads the Department of Military Affairs and is the principal military adviser to the Defence Minister.

Quick revision: General N S Raja Subramani assumes charge as third CDS, 31 May 2026 (PIB).

Appointments, Awards and Important Days

Admiral Krishna Swaminathan assumes charge as the 27th Chief of the Naval Staff

31 May 2026 | Press Information Bureau

PIB said Admiral Krishna Swaminathan assumed charge as the 27th Chief of the Naval Staff on 31 May 2026, succeeding Admiral Dinesh Kumar Tripathi, who superannuated after 41 years of service.

He was commissioned on 1 July 1987 and is a Communication and Electronic Warfare specialist. His sea commands include INS Vidyut, INS Vinash, INS Kulish, INS Mysore and the aircraft carrier INS Vikramaditya, and he commanded the Western Fleet.

Exam takeaway: The Chief of the Naval Staff heads the Indian Navy.

Quick revision: Adm Krishna Swaminathan assumes charge as 27th Navy chief, 31 May 2026 (PIB).

Banking and RBI

Rohit Jain appointed Deputy Governor of the RBI

2 May 2026 | Reserve Bank of India press release 2026-2027/192

The RBI said on 2 May 2026 that the Government of India, by notification dated 2 May 2026, has appointed Shri Rohit Jain, Executive Director, as Deputy Governor of the Reserve Bank of India. The appointment is for three years from the date of joining on or after 3 May 2026, or until further orders, whichever is earlier.

The appointment is made under clause (a) of sub-section (1) of section 8 of the Reserve Bank of India Act, 1934, read with sub-section (4) of section 8.

Exam takeaway: Deputy Governors of the RBI are appointed by the Central Government under Section 8 of the RBI Act, 1934.

Quick revision: Rohit Jain (ED) appointed RBI Deputy Governor for 3 years from joining on/after 3 May 2026 (RBI PR 2026-27/192).

Banking and RBI

RBI reiterates caution against misleading loan waiver campaigns

4 May 2026 | Reserve Bank of India press release

The RBI on 4 May 2026 cautioned the public against unauthorised and misleading campaigns promising loan waivers, repeating its press release of 11 December 2023. It said it had observed the continued occurrence of such campaigns through various media channels and direct outreach by certain individuals and entities.

The RBI said these campaigns involve false promises of waiver of outstanding dues to banks and NBFCs, issue of 'debt waiver certificates' or similar documents, and collection of fees under various pretexts. It said they mislead the public and interfere with the orderly functioning of the credit system, and asked people to refrain from associating with such entities.

Exam takeaway: Loan waivers are decided by lenders and governments under their own rules; fee-collecting private campaigns are not authorised, the RBI said.

Quick revision: RBI, 4 May 2026: beware false loan-waiver campaigns and 'debt waiver certificates' (repeat of 11 Dec 2023 caution).

Banking and RBI

RBI redistributes Deputy Governors' portfolios after Rohit Jain takes charge

4 May 2026 | Reserve Bank of India press release 2026-2027

After Shri Rohit Jain assumed charge as Deputy Governor, the RBI issued the distribution of portfolios among the Deputy Governors with effect from 4 May 2026. Co-ordination is looked after by the senior-most Deputy Governor, Shri Swaminathan Janakiraman.

Rohit Jain gets ten departments, including Fintech, Foreign Exchange, Internal Debt Management, Information Technology, Financial Markets Regulation and Risk Monitoring. Dr Poonam Gupta holds Monetary Policy, Financial Markets Operations, Financial Stability, International and economic research and statistics departments. Shri Shirish Chandra Murmu holds Regulation, Payment and Settlement Systems, Currency Management, Communication and Enforcement.

Exam takeaway: The RBI has four Deputy Governors, and their department portfolios are re-assigned by RBI press release when one changes.

Quick revision: RBI portfolios from 4 May 2026: Jain gets Fintech, Forex, IDMD; Gupta Monetary Policy; Murmu Regulation, Payments.

Banking and RBI

Cabinet approves Emergency Credit Line Guarantee Scheme 5.0 targeting Rs 2,55,000 crore credit flow

5 May 2026 | Press Information Bureau

The Union Cabinet approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 on 5 May 2026, PIB said. NCGTC will provide credit guarantee cover to member lending institutions for additional credit to eligible borrowers facing short-term liquidity mismatches in view of the West Asia situation. The scheme targets additional credit flow of Rs 2,55,000 crore, including Rs 5,000 crore for airlines.

Guarantee cover is 100 per cent for MSMEs and 90 per cent for non-MSMEs and the airline sector, with nil guarantee fee. Additional credit is up to 20 per cent of peak working capital used in Q4 FY26, capped at Rs 100 crore; for airlines up to 100 per cent, capped at Rs 1,500 crore per borrower. Loans run 5 years including a 1-year moratorium (7 years with 2 years for airlines). The scheme applies to loans sanctioned up to 31 March 2027.

Exam takeaway: NCGTC is the National Credit Guarantee Trustee Company Limited, which runs credit guarantee schemes for lenders.

Quick revision: ECLGS 5.0 approved: Rs 2.55 lakh crore target; 100% cover MSMEs, 90% others; fee nil (PIB, 5 May 2026).

Banking and RBI

RBI issues Foreign Exchange Management (Authorised Persons) Regulations, 2026

6 May 2026 | Reserve Bank of India press release 2026-2027/213

On 6 May 2026 the RBI issued the Foreign Exchange Management (Authorised Persons) Regulations, 2026. The RBI said the Regulations aim to rationalise the authorisation and renewal framework for authorised persons and to extend the principal-agent model for delivery of foreign exchange facilities, while maintaining appropriate checks and balances.

The Regulations follow a draft framework published on the RBI's website on 26 December 2023, and the RBI said it examined and included feedback from stakeholders. Its response to the major comments is given in an annex to the press release.

Exam takeaway: Authorised persons are entities such as banks and money changers authorised by the RBI to deal in foreign exchange.

Quick revision: RBI issues FEMA Authorised Persons Regulations, 2026 (draft of 26 Dec 2023), 6 May 2026.

Banking and RBI

ECLGS 5.0: Rs 5,000 crore of the Rs 2,55,000 crore credit flow earmarked for airlines

6 May 2026 | Press Information Bureau

Carried forward from 5 May 2026. In a follow-up release on 6 May 2026, PIB explained that the Cabinet-approved ECLGS 5.0 earmarks Rs 5,000 crore of the Rs 2,55,000 crore additional credit flow for airlines, which face stress from a sharp rise in ATF prices, airspace closures and reduced international operations.

For airlines the maximum loan limit is Rs 1,000 crore per borrower, with an additional Rs 500 crore subject to an equivalent equity infusion by the borrower. Loans have a tenure of up to 7 years including a 2-year moratorium on repayment. Cover is 100 per cent for MSMEs and 90 per cent for non-MSMEs and the airline sector.

Exam takeaway: ATF is aviation turbine fuel, the jet fuel whose price rise squeezes airline finances.

Quick revision: ECLGS 5.0 airlines: Rs 5,000 crore earmark; Rs 1,000 crore limit (+Rs 500 crore with equity); 7-year tenure (PIB, 6 May).

Banking and RBI

RBI amends capital adequacy norms: quarterly profits can count in CET1 without the NPA provisioning condition

8 May 2026 | Reserve Bank of India press release

On 8 May 2026 the RBI released three Amendment Directions on the inclusion of quarterly profits in Common Equity Tier 1 (CET1) capital for computing the Capital to Risk-weighted Assets Ratio (CRAR) of banks, including the Commercial Banks (Prudential Norms on Capital Adequacy) Fifth Amendment Directions, 2026. Drafts had been issued on 8 April 2026.

Earlier, commercial banks (excluding Local Area Banks and Regional Rural Banks) could count current-year profits quarterly only if incremental NPA provisions in any of the four quarters of the previous year had not deviated more than 25 per cent from the four-quarter average. That qualifying condition is removed. Under the amended text, the financial statements must be audited or subject to limited review each quarter, and eligible profit is computed as EP(t) = NP(t) - 0.25 x D x t, where D is the average dividend paid in the last three financial years; cumulative net losses are fully deducted.

Exam takeaway: CET1 is the highest-quality regulatory capital of a bank, and CRAR measures capital against risk-weighted assets.

Quick revision: RBI 8 May 2026: quarterly profits count in CET1 without the 25% NPA-provision test; EP = NP - 0.25 x D x t.

Banking and RBI

RBI imposes Rs 31.80 lakh penalty on Yes Bank for KYC non-compliance

8 May 2026 | Reserve Bank of India press release

The RBI said on 8 May 2026 that, by an order dated 27 April 2026, it imposed a monetary penalty of Rs 31.80 lakh on Yes Bank Limited for non-compliance with certain RBI directions on Know Your Customer (KYC). The penalty was imposed under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The charge sustained was that the bank failed to put in place a system of using the KYC Identifier assigned by the Central KYC Records Registry for establishing an account-based relationship with customers. The finding arose from the statutory inspection with reference to the bank's financial position as on 31 March 2025. The RBI said the action is based on regulatory deficiencies and does not pronounce on the validity of any transaction with customers.

Exam takeaway: The RBI's penalty notices state that they reflect regulatory deficiencies, not a judgement on customer transactions.

Quick revision: RBI fines Yes Bank Rs 31.80 lakh for KYC Identifier non-use (order 27 Apr, press release 8 May 2026).

Banking and RBI

SEBI sets a uniform 30-day lag for market price data used in education, effective 1 July 2026

8 May 2026 | The Economic Times

Carried forward from 8 May 2026. The Economic Times reported that SEBI, in a circular on Friday, 8 May 2026, mandated that market infrastructure institutions such as stock exchanges, clearing corporations and depositories ensure market price data used for educational and awareness purposes carries a mandatory 30-day lag. The provisions take effect from 1 July 2026.

The circular replaces two earlier frameworks. A 2024 circular allowed sharing price data for educational purposes with a one-day lag, and a 2025 circular set a three-month lag for use of such data in education, which caused confusion. The report says NISM, SEBI's training arm, gets an exception for its simulation lab.

Exam takeaway: Market infrastructure institutions are stock exchanges, clearing corporations and depositories.

Quick revision: SEBI 8 May 2026: 30-day lag for educational price data from 1 July 2026 (ET).

Banking and RBI

RBI and ECB sign Memorandum of Understanding on central banking cooperation

10 May 2026 | European Central Bank press release

The European Central Bank said on 10 May 2026 that its President Christine Lagarde and RBI Governor Sanjay Malhotra signed a Memorandum of Understanding on cooperation in central banking. The signing took place on the sidelines of the Bank for International Settlements meetings in Basel.

The MoU updates the previous MoU of 2015. It provides a framework for regular exchange of information, policy dialogue and technical cooperation, which may take the form of joint seminars and workshops.

Exam takeaway: The Bank for International Settlements (BIS) is the forum of central banks, based in Basel.

Quick revision: RBI-ECB MoU signed 10 May 2026 in Basel; updates 2015 MoU (ECB press release).

Banking and RBI

I4C and RBI Innovation Hub sign MoU to fight mule accounts and cyber financial fraud

12 May 2026 | Press Information Bureau (MHA)

PIB said on 12 May 2026 that the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs and the Reserve Bank Innovation Hub (RBIH) signed an MoU to combat cyber-enabled financial frauds and curb mule accounts across banking and digital payments. Home Minister Amit Shah posted about it on X.

Under the MoU, I4C and RBIH will share mule-account intelligence and suspect identifiers from I4C's Suspect Registry to strengthen AI-driven fraud detection systems such as MuleHunter.ai, implemented across banks. RBIH will use the datasets to train and improve AI fraud-risk models. The MoU was signed in the presence of RBI Deputy Governor Rohit Jain. RBIH is a wholly owned subsidiary of the RBI.

Exam takeaway: A mule account is a bank account used to receive and move money from fraud.

Quick revision: I4C-RBIH MoU, 12 May 2026: Suspect Registry data to power MuleHunter.ai (PIB).

Banking and RBI

RBI announces Rs 15,102 redemption price for SGB 2018-19 Series-III due on 13 May 2026

12 May 2026 | Reserve Bank of India press release 2026-2027/246

The RBI said on 12 May 2026 that the premature redemption price for Sovereign Gold Bond 2018-19 Series-III (issued 13 November 2018), due on 13 May 2026, is Rs 15,102 per unit. Premature redemption is allowed after the fifth year from the date of issue, on the date interest is payable.

The price is based on the simple average of the closing price of 999-purity gold of the previous three business days, 8, 11 and 12 May 2026, as published by the India Bullion and Jewellers Association Ltd (IBJA).

Exam takeaway: Sovereign Gold Bonds can be redeemed early only after the fifth year, on an interest payment date.

Quick revision: SGB 2018-19 Series-III premature redemption on 13 May 2026 at Rs 15,102 per unit (RBI).

Banking and RBI

DFS launches Bharat Maritime Insurance Pool of USD 1.5 billion with sovereign guarantee of Rs 12,980 crore

12 May 2026 | Press Information Bureau (Department of Financial Services)

Carried forward from the Cabinet approval reported on 18 April 2026. PIB said on 12 May 2026 that the Department of Financial Services launched the Bharat Maritime Insurance Pool (BMIP) of USD 1.5 billion, with a sovereign guarantee of USD 1.4 billion (Rs 12,980 crore), to provide continuous maritime insurance cover amid Middle East tensions.

The pool covers hull and machinery, cargo, P&I and war risks for Indian-flagged or controlled vessels and vessels to or from India. GIC Re is the pool administrator. A Governing Body oversees the pool, including invocation of the sovereign guarantee, and an Underwriting Committee ensures prudent underwriting. Policies are issued by domestic insurers that are pool members. DFS Secretary M. Nagaraju handed over the first Marine Hull and Machinery War Policy, issued by New India Assurance.

Exam takeaway: P&I insurance covers third-party liabilities such as oil pollution, wreck removal, cargo damage and crew injury.

Quick revision: BMIP launched 12 May 2026: USD 1.5 bn pool, Rs 12,980 crore sovereign guarantee; GIC Re administers (PIB).

Banking and RBI

RBI removes prior approval for non-bank outward remittance tie-ups with Authorised Dealer banks

13 May 2026 | Reserve Bank of India circular

Carried forward from 13 May 2026. The RBI issued an operating framework for facilitating outward remittance services by non-bank entities through Authorised Dealer (Category I) banks. It decided to dispense with the process of granting RBI approval for such tie-ups, and paragraph 10 of the Master Direction - Miscellaneous dated 1 January 2016 stands deleted with immediate effect.

Authorised Dealers must instead follow the instructions in the annex when facilitating cross-border outward remittance for non-trade current account transactions using a third-party entity in online mode (website, platform, software application or mobile application). The directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. The Economic Times reported that AD banks are now solely responsible for FEMA compliance and KYC.

Exam takeaway: Authorised Dealer Category-I banks are banks authorised by the RBI to deal in foreign exchange for current account transactions.

Quick revision: RBI circular (13 May 2026): no prior approval for non-bank outward remittance tie-ups; AD banks responsible.

Banking and RBI

RBI sets underwriting commission cut-offs for Rs 32,000 crore government securities auction

15 May 2026 | Reserve Bank of India

The RBI said that in the underwriting auction conducted on 15 May 2026 for Additional Competitive Underwriting (ACU) of two government securities, it set cut-off rates for the underwriting commission payable to Primary Dealers: 0.68 paise per Rs 100 for 6.36% GS 2031 (notified amount Rs 21,000 crore) and 1.08 paise per Rs 100 for New GS 2066 (Rs 11,000 crore).

On 14 May the RBI had announced the auction of the two securities for a total Rs 32,000 crore. Each Primary Dealer had a minimum underwriting commitment of Rs 500 crore for the 2031 security and Rs 262 crore for the 2066 security.

Exam takeaway: Primary Dealers underwrite government securities auctions and earn an underwriting commission.

Quick revision: RBI underwriting auction 15 May 2026: 6.36% GS 2031 (Rs 21,000 cr) and New GS 2066 (Rs 11,000 cr) (RBI).

Banking and RBI

RBI: SGB 2020-21 Series-VIII premature redemption price fixed at Rs 16,012 per unit

15 May 2026 | Reserve Bank of India

Carried forward from 15 May 2026. The RBI announced that premature redemption of Sovereign Gold Bond 2020-21 Series-VIII (issued 18 November 2020) falls due on 18 May 2026, and the redemption price is Rs 16,012 per unit.

The price is the simple average of the closing price of 999-purity gold, published by the India Bullion and Jewellers Association Ltd (IBJA), for the three business days 13, 14 and 15 May 2026. Premature redemption is permitted after the fifth year from the issue date, on a date when interest is payable.

Exam takeaway: Premature redemption of an SGB is allowed after five years, on an interest payment date.

Quick revision: SGB 2020-21 Series-VIII: premature redemption 18 May 2026 at Rs 16,012 per unit (RBI, 15 May).

Banking and RBI

RBI Weekly Statistical Supplement: scheduled commercial banks' deposits and credit as on 30 April 2026

15 May 2026 | Reserve Bank of India

Carried forward from 15 May 2026. The RBI's revised Weekly Statistical Supplement extract shows scheduled commercial banks' aggregate deposits at Rs 2,58,64,099 crore as on 30 April 2026, with year-on-year growth of 12.3 per cent.

Bank credit stood at Rs 2,12,11,828 crore, growing 16.0 per cent year-on-year, while the extract also lists state governments' loans and advances from the RBI at Rs 23,957 crore on 8 May 2026.

Exam takeaway: Year-on-year growth compares a figure with the same date a year earlier.

Quick revision: SCBs 30 Apr 2026: deposits Rs 2,58,64,099 cr (+12.3%), credit Rs 2,12,11,828 cr (+16.0%) (RBI).

Banking and RBI

RBI discontinues Investment Fluctuation Reserve for banks following market-risk capital charge

18 May 2026 | Reserve Bank of India

The RBI issued final Amendment Directions on the Investment Fluctuation Reserve (IFR) on 18 May 2026, after examining feedback on its draft. The draft proposed dispensing with the IFR for bank categories that maintain a capital charge for market risk and follow the revised norms on classification, valuation and operation of the investment portfolio, with remaining Regulated Entity categories to comply with IFR as on balance sheet dates instead of continuously.

The Hindu BusinessLine reported that, with effect from 18 May, the commercial bank directions say the IFR requirement 'has been discontinued', and that the IFR balance as of 17 May would be transferred below the line to reserves.

Exam takeaway: The IFR is a reserve banks built from investment gains to cushion losses on investments.

Quick revision: RBI (18 May 2026): IFR requirement discontinued for banks under revised investment-portfolio norms; others on balance sheet dates.

Banking and RBI

RBI keeps countercyclical capital buffer inactive after reviewing indicators

18 May 2026 | Reserve Bank of India

The RBI said on 18 May 2026, after a review and empirical analysis of CCyB indicators, that it is not necessary to activate the Counter-Cyclical Capital Buffer at this point in time.

The framework in the Commercial Banks - Prudential Norms on Capital Adequacy Directions, 2025 provides that the CCyB would be activated as and when circumstances warrant, normally pre-announced, with credit-to-GDP gap as the main indicator.

Exam takeaway: CCyB is an extra capital cushion banks build in good times to absorb losses in downturns.

Quick revision: RBI 18 May 2026: no need to activate CCyB now; credit-to-GDP gap is main indicator.

Banking and RBI

RBI releases draft Pillar 3 disclosure amendments to capital adequacy directions; comments till 2 June

19 May 2026 | Reserve Bank of India

The RBI released on 19 May 2026 draft Amendment Directions on Pillar 3 disclosure requirements, to ensure greater consistency with the Basel Pillar 3 disclosure requirements. They are the Commercial Banks - Prudential Norms on Capital Adequacy Seventh Amendment Directions, 2026 and the Small Finance Banks - Prudential Norms on Capital Adequacy Fifth Amendment Directions, 2026.

Comments are invited till 2 June 2026 through the Connect2Regulate link on the RBI website or by email to the Chief General Manager, Balance Sheet Group, Department of Regulation.

Exam takeaway: Pillar 3 of the Basel framework deals with market discipline through public disclosure.

Quick revision: RBI draft Pillar 3 amendments, 19 May 2026; comments till 2 June (RBI).

Banking and RBI

RBI to conduct Rs 1,50,000 crore 5-day Variable Rate Repo auction on 20 May

19 May 2026 | Reserve Bank of India

After a review of current and evolving liquidity conditions, the RBI decided to conduct a 5-day Variable Rate Repo (VRR) auction under the LAF on Wednesday, 20 May 2026, for a notified amount of Rs 1,50,000 crore.

The window is 9:30 AM to 10:00 AM and the date of reversal is Monday, 25 May 2026.

Exam takeaway: A VRR auction injects liquidity for a fixed tenor at a rate discovered through bidding.

Quick revision: RBI 5-day VRR auction 20 May 2026: Rs 1,50,000 crore; reversal 25 May (RBI).

Banking and RBI

RBI issues revised draft directions on loan recovery conduct and recovery agents; comments till 31 May

20 May 2026 | Reserve Bank of India

Following the Statement on Developmental and Regulatory Policies of 6 February 2026, the RBI had issued draft Amendment Directions on 'Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents' on 12 February 2026. After substantial feedback changed many key provisions, the RBI on 20 May 2026 issued revised drafts for another round of public consultation.

Stakeholders had also sought regulatory enablement for lenders to use technology-based mechanisms that restrict some functions of a financed mobile device to recover dues on default. The revised drafts cover commercial banks, small finance banks, local area banks, RRBs, UCBs, rural co-operative banks, AIFIs, NBFCs and housing finance companies. Comments are invited till 31 May 2026.

Exam takeaway: Draft directions are issued for public comment before they become final.

Quick revision: RBI revised drafts on loan recovery conduct, 20 May 2026; comments till 31 May (RBI).

Banking and RBI

RBI announces USD 5 billion, three-year USD/INR buy/sell swap auction for 26 May

20 May 2026 | Reserve Bank of India

On a review of liquidity conditions the RBI decided on 20 May 2026 to conduct a USD/INR Buy/Sell swap auction of USD 5 billion for a tenor of three years. The auction is on 26 May 2026 from 10:30 to 11:30 AM, with near leg/spot date 29 May 2026 and far leg date 29 May 2029.

Bids are placed as the premium participants will pay the RBI, in paisa up to two decimal places, in a multiple price-based auction. Authorised Dealers Category-I banks are among the eligible entities.

Exam takeaway: In a buy/sell swap the RBI buys dollars now and sells them back later, which adds rupee liquidity.

Quick revision: RBI USD 5 bn 3-year buy/sell swap auction on 26 May 2026 (RBI, 20 May).

Banking and RBI

RBI imposes Rs 1.80 lakh penalty on AKG Infin Private Limited

21 May 2026 | Reserve Bank of India

The RBI announced on 21 May 2026 that, by an order dated 18 May 2026, it imposed a monetary penalty of Rs 1.80 lakh on AKG Infin Private Limited for non-compliance with directions on 'Acquisition of Shareholding or Control'. The penalty was imposed under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.

The RBI said the company's correspondence on post-facto approval for acquisition of more than 26% of its paid-up equity capital by new investors revealed non-compliance. After a show-cause notice, the company's reply and a personal hearing, the charge was found sustained.

Exam takeaway: RBI penalties on regulated entities are imposed after a show-cause notice and hearing.

Quick revision: RBI penalty Rs 1.80 lakh on AKG Infin (order 18 May; announced 21 May) (RBI).

Banking and RBI

RBI Board approves record surplus transfer of about Rs 2.87 lakh crore to the Centre for 2025-26

22 May 2026 | The Indian Express and Reuters (RBI statement)

The Indian Express reported that the RBI's Central Board on 22 May 2026 approved a record surplus transfer of Rs 2,86,588 crore to the Central Government for the accounting year 2025-26, about 6.7 per cent (Rs 17,998 crore) higher than the Rs 2,68,590 crore transferred in 2024-25. CNBC-TV18 reported it was approved at the 623rd Central Board meeting chaired by Governor Sanjay Malhotra in Mumbai.

Reuters, citing the RBI statement, put the figure at 2.87 trillion rupees and said the RBI lowered its contingency risk buffer to 6.5% of its balance sheet from 7.5% the previous year. The primary RBI statement was not read for this edition, so figures are attributed to these outlets.

Exam takeaway: The RBI transfers its annual surplus to the Government under Section 47 of the RBI Act.

Quick revision: RBI surplus transfer for 2025-26: about Rs 2.87 lakh crore, record; CRB 6.5% (Reuters/Indian Express, 22 May).

Banking and RBI

RBI Bulletin May 2026: CPI inflation rose to 3.5 per cent in April

22 May 2026 | Reserve Bank of India

The RBI released the May 2026 issue of its monthly Bulletin on 22 May 2026. Its State of the Economy article says CPI inflation rose to 3.5 per cent in April, driven mainly by food inflation, while core inflation remained steady.

It adds that net FDI stayed positive for the second consecutive month in March, and foreign portfolio investors remained net sellers in April and May, though outflows moderated. The views in the article are the authors' and not the RBI's.

Exam takeaway: The State of the Economy article in the RBI Bulletin carries the authors' views, not the RBI's.

Quick revision: RBI Bulletin May 2026: April CPI 3.5%, driven by food (RBI, 22 May).

Banking and RBI

RBI to conduct Rs 1,50,000 crore 4-day VRR auction on 25 May

22 May 2026 | Reserve Bank of India

The RBI announced on 22 May 2026 a 4-day Variable Rate Repo (VRR) auction under the LAF on Monday, 25 May 2026, for Rs 1,50,000 crore, after a review of liquidity conditions. The window is 9:30 to 10:00 AM and the reversal date is Friday, 29 May 2026.

Exam takeaway: VRR auctions are used to manage liquidity in the banking system.

Quick revision: RBI 4-day VRR auction, 25 May 2026, Rs 1,50,000 crore (RBI).

Banking and RBI

RBI sets up Q-SAFE expert committee on quantum-secure financial ecosystem

25 May 2026 | Reserve Bank of India

The RBI constituted on 25 May 2026 an Expert Committee for a Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE). Convened by Dr Anil Prabhakar of IIT Madras, it includes members from DST, SBI, NPCI, MeitY, DSCI and the RBI's FinTech Department, whose CGM Suvendu Pati is Member-Secretary.

Its terms of reference include evaluating benefits and risks of quantum technology in finance, assessing the sector's cryptographic inventory through a Cryptography Bill of Materials (CBOM) and crypto agility, a cross-country review of regulation, and industry readiness for quantum-safe cryptography.

Exam takeaway: Quantum computers could weaken some existing cryptographic standards, so finance seeks quantum-safe cryptography.

Quick revision: RBI Q-SAFE expert committee on quantum-secure finance, 25 May 2026 (RBI).

Banking and RBI

RBI 4-day VRR auction: Rs 88,745 crore of bids against Rs 1,50,000 crore notified

25 May 2026 | Reserve Bank of India

The RBI said that in the 4-day Variable Rate Repo auction on 25 May 2026, against a notified amount of Rs 1,50,000 crore, bids of Rs 88,745 crore were received and all were allotted. The cut-off rate and weighted average rate were both 5.26 per cent.

Separately, the RBI announced the sale of two dated government securities for Rs 28,000 crore: 6.68% GS 2040 (Rs 17,000 crore) and 7.43% GS 2076 (Rs 11,000 crore), with auction on 29 May and settlement on 1 June 2026. The Government can retain up to Rs 2,000 crore additional subscription against each.

Exam takeaway: When bids fall short of the notified amount, the RBI allots the full bid amount.

Quick revision: VRR 25 May 2026: bids Rs 88,745 cr, rate 5.26%; G-sec auction Rs 28,000 cr on 29 May (RBI).

Banking and RBI

RBI's USD 5 billion three-year swap draws bids of nearly USD 10 billion; cut-off premium Rs 9.10

26 May 2026 | Reuters via MarketScreener

Reuters reported on 26 May 2026 that the RBI's three-year dollar/rupee buy/sell swap, announced on 20 May, drew bids of nearly USD 10 billion, almost twice the USD 5 billion on offer. In all, 254 bids were received, worth USD 9.8 billion, and the RBI accepted 141 of them. The premium cut-off was Rs 9.10.

Reuters added that the three-year forward premium fell to about Rs 9 from about Rs 9.25 after the results. The RBI's own result page was not read for this edition, so the figures are attributed to Reuters.

Exam takeaway: A buy/sell swap adds rupee liquidity now; the RBI sells dollars back at the far leg.

Quick revision: RBI USD 5 bn 3-yr swap on 26 May: bids ~USD 9.8 bn, cut-off premium Rs 9.10 (Reuters).

Banking and RBI

RBI State Government Securities auction of 26 May 2026: cut-off yields about 7.80 to 7.87 per cent

26 May 2026 | Reserve Bank of India

The RBI published the full result of the State Government Securities auction held on 26 May 2026. In the part read, Assam SGS 2041 (Rs 750 crore notified) had a cut-off yield of 7.8700 per cent, Bihar SGS 2035 (Rs 1,200 crore) 7.8004 per cent, Bihar SGS 2041 (Rs 1,200 crore) 7.84 per cent, and Chhattisgarh SGS 2036 (Rs 500 crore) 7.7900 per cent.

Competitive bids received for Assam SGS 2041 totalled Rs 1,800 crore, of which Rs 713.943 crore was accepted.

Exam takeaway: State Government Securities, or State Development Loans, are bonds issued by States through RBI auctions.

Quick revision: RBI SGS auction 26 May 2026: cut-off yields 7.79% to 7.87% (RBI).

Banking and RBI

RBI announces underwriting auction for Rs 28,000 crore government securities on 29 May

27 May 2026 | Reserve Bank of India

The RBI announced an underwriting auction for sale of government securities worth Rs 28,000 crore on Friday, 29 May 2026: 6.68% GS 2040 (Rs 17,000 crore) and 7.43% GS 2076 (Rs 11,000 crore).

Each Primary Dealer has a minimum underwriting commitment of Rs 405 crore for the 2040 security and Rs 262 crore for the 2076 security, with the same minimum bidding commitment in the ACU auction. Bids go through the e-Kuber system from 9:00 to 9:30 AM on auction day.

Exam takeaway: A Minimum Underwriting Commitment is the amount each Primary Dealer must underwrite in an auction.

Quick revision: RBI underwriting auction 29 May 2026: Rs 28,000 crore; GS 2040 and GS 2076 (RBI).

Banking and RBI

ECLGS 5.0: guarantee cover up to 100% for MSMEs, 90% for non-MSMEs and airlines; Rs 2.55 lakh crore cap

28 May 2026 | Press Information Bureau

A PIB explainer of 28 May 2026 says the Union Cabinet has approved ECLGS 5.0 to relieve MSME units and the aviation sector from pressures such as higher ATF prices, airspace restrictions and operational challenges. NCGTC will give credit guarantee cover of up to 100 per cent for MSME units and up to 90 per cent for non-MSME and airline borrowers to Member Lending Institutions.

Additional loans of up to 20 per cent of peak working capital utilisation in Q4 of 2025-26, capped at Rs 100 crore, may be given. The guarantee is co-terminus with loan tenure, and the scheme applies to loans sanctioned till 31 March 2027 or until guarantees of Rs 2.55 lakh crore are issued, whichever is earlier. Eligible MSME units pay no additional guarantee fee.

Exam takeaway: NCGTC is the trustee company that provides the credit guarantee under ECLGS.

Quick revision: ECLGS 5.0: cover 100% MSME, 90% others; cap Rs 2.55 lakh crore; till 31 Mar 2027 (PIB, 28 May).

Banking and RBI

Insolvency and Bankruptcy Code (Amendment) Act, 2026: PIB explains reforms; creditors realised nearly Rs 4.32 lakh crore

28 May 2026 | Press Information Bureau

A PIB explainer of 28 May 2026 says the IBC, 2016 created a unified, creditor-driven, time-bound framework for resolving financial distress, and that creditors realised nearly Rs 4.32 lakh crore through approved resolution plans till March 2026.

It says the Insolvency and Bankruptcy Code (Amendment) Act, 2026 introduces reforms to reduce delays, strengthen creditor oversight and improve procedural clarity. Before 2016, resolution ran through separate laws such as the Companies Act, SICA, debt recovery and SARFAESI, which led to fragmented proceedings.

Exam takeaway: The IBC, 2016 consolidated insolvency law for companies, partnership firms and individuals.

Quick revision: IBC (Amendment) Act 2026 aims to cut delays; creditors realised ~Rs 4.32 lakh crore till March 2026 (PIB).

Banking and RBI

RBI: weighted average lending rate on fresh rupee loans 8.50 per cent in April 2026

29 May 2026 | Reserve Bank of India

The RBI's May 2026 data on lending and deposit rates of scheduled commercial banks (excluding RRBs and SFBs) shows the weighted average lending rate (WALR) on fresh rupee loans at 8.50 per cent in April 2026 against 8.40 per cent in March, and on outstanding rupee loans at 8.98 per cent against 8.99 per cent.

The 1-year median MCLR stood at 8.65 per cent in May 2026 (8.55 per cent in April). The weighted average domestic term deposit rate on fresh rupee term deposits was 5.77 per cent in April (6.07 per cent in March) and on outstanding term deposits 6.59 per cent (6.62 per cent).

Exam takeaway: MCLR is the Marginal Cost of Funds based Lending Rate, a benchmark internal to banks.

Quick revision: RBI data: WALR fresh 8.50% (Apr 2026); 1-yr median MCLR 8.65% (May); WADTDR fresh 5.77% (RBI).

Banking and RBI

RBI: SGB 2021-22 Series-II premature redemption price Rs 15,672 per unit for 1 June 2026

29 May 2026 | Reserve Bank of India

Carried forward from 29 May 2026. The RBI announced that premature redemption of Sovereign Gold Bond 2021-22 Series-II (issued 1 June 2021) falls due on 1 June 2026, at a redemption price of Rs 15,672 per unit.

The price is the simple average of the IBJA closing price of 999-purity gold for the three business days 26, 27 and 29 May 2026. Premature redemption is allowed after the fifth year from issue, on an interest payment date.

Exam takeaway: The SGB redemption price tracks a three-day average of IBJA gold prices.

Quick revision: SGB 2021-22 Series-II: premature redemption 1 June 2026 at Rs 15,672 (RBI, 29 May).

National and International Affairs

World Press Freedom Day 2026 is hosted in Lusaka, Zambia

3 May 2026 | United Nations

World Press Freedom Day is observed on 3 May. The UN says the General Assembly proclaimed it in December 1993 on the recommendation of UNESCO's General Conference, and that 3 May is the anniversary of the Declaration of Windhoek.

The UN page says WPFD 2026 is hosted in Lusaka, Zambia. It cites UNESCO's World Trends Report 2022 to 2025 as saying press freedom has seen its steepest decline since 2012.

Exam takeaway: Days observed on fixed dates, with their host cities and anniversaries, are frequent in current affairs questions.

Quick revision: World Press Freedom Day, 3 May; 2026 host Lusaka, Zambia; proclaimed UNGA Dec 1993 (UN).

National and International Affairs

Cabinet approves raising Supreme Court strength from 34 to 38 judges

5 May 2026 | The Hindu

Carried forward from 5 May 2026. The Union Cabinet on Tuesday, 5 May 2026, approved increasing the number of judges of the Supreme Court from 34, including the Chief Justice of India, to 38, The Hindu reported. Union Minister Ashwini Vaishnaw said a Bill would be brought in the next session of Parliament to raise the strength by four.

The Hindu noted that the Supreme Court (Number of Judges) Act, 1956 originally provided for a maximum of 10 judges excluding the CJI. Vaishnaw said the court's current sanctioned strength is 33 judges including the CJI. The move is described as a step towards tackling pendency.

Exam takeaway: Changing the strength of the Supreme Court needs an amendment of the Supreme Court (Number of Judges) Act, 1956 by Parliament.

Quick revision: Cabinet 5 May 2026: SC strength 34 to 38 via a Bill; 1956 Act began with 10 judges (Hindu).

National and International Affairs

C. Joseph Vijay sworn in as Chief Minister of Tamil Nadu

10 May 2026 | The Hindu

The Hindu reported that Tamilaga Vettri Kazhagam (TVK) president C. Joseph Vijay was sworn in as Chief Minister of Tamil Nadu on 10 May 2026 at the Jawaharlal Nehru Indoor Stadium in Chennai.

The report notes the oath was taken in Tamil, and that his core team found a place in the cabinet.

Exam takeaway: A Chief Minister is appointed by the Governor and takes the oath of office of the State.

Quick revision: Tamil Nadu: C. Joseph Vijay (TVK) sworn in as CM on 10 May 2026 (Hindu).

National and International Affairs

Cabinet approves Ahmedabad (Sarkhej)-Dholera semi high-speed rail line costing Rs 20,667 crore

13 May 2026 | Press Information Bureau

The Cabinet Committee on Economic Affairs approved on 13 May 2026 the Ahmedabad (Sarkhej)-Dholera Semi High-Speed Double Line project of the Ministry of Railways at an estimated cost of about Rs 20,667 crore, to be completed up to 2030-31, PIB said.

It will be Indian Railways' first semi high-speed project, planned with indigenously developed technology. It will connect Ahmedabad with Dholera SIR, the upcoming Dholera Airport and the Lothal National Maritime Heritage Complex.

Exam takeaway: Dholera is a Special Investment Region in Gujarat, and Lothal is the site of an ancient Harappan port city.

Quick revision: Cabinet 13 May 2026: Ahmedabad-Dholera semi high-speed rail, Rs 20,667 crore, India's first (PIB).

National and International Affairs

V. D. Satheesan named by the Congress as Kerala's next Chief Minister

14 May 2026 | The Hindu

The Hindu reported that the All India Congress Committee announced on Thursday, 14 May 2026 that senior Congress leader V. D. Satheesan will be Kerala's next Chief Minister, ten days after the Congress-led United Democratic Front swept the Assembly election results declared on 4 May. He is to be sworn in on Monday, 18 May 2026.

The report says the UDF meeting on 15 May is expected to name the Ministers who will take oath with him. The New Indian Express describes him as the 13th Chief Minister of Kerala, with the swearing-in at the Central Stadium in the capital.

Exam takeaway: A Chief Minister is chosen by the legislature party and sworn in by the Governor.

Quick revision: Kerala: Congress names V D Satheesan CM; oath expected 18 May 2026 (Hindu, 14 May).

National and International Affairs

Census 2027: self-enumeration opens in Gujarat, J&K, Ladakh and Puducherry

17 May 2026 | Press Information Bureau

PIB said on 17 May 2026 that the self-enumeration facility for Census 2027's Houselisting and Housing Census began in Gujarat, Jammu & Kashmir, Ladakh and Puducherry and will remain available till 31 May 2026. Field operations there will run from 1 to 30 June 2026. More than 1.44 crore households have completed self-enumeration.

Field operations commenced in Rajasthan, Meghalaya, Maharashtra, Jharkhand and the MCD area of Delhi. Self-enumeration in Uttar Pradesh continues till 21 May, with field operations from 22 May to 20 June.

Exam takeaway: Self-enumeration lets households fill census details online before enumerators visit.

Quick revision: Census 2027 HLO: self-enumeration in Gujarat, J&K, Ladakh, Puducherry till 31 May; 1.44 crore households done (PIB, 17 May).

National and International Affairs

V. D. Satheesan sworn in as Kerala Chief Minister with 20 Ministers

18 May 2026 | The Hindu

The Hindu reported that V. D. Satheesan was sworn in as Kerala's Chief Minister along with 20 Ministers on Monday, 18 May 2026 at the Central Stadium, Thiruvananthapuram. Governor Rajendra Vishwanath Arlekar administered the oath.

The Hindu's live report lists 11 Congress Ministers and five Indian Union Muslim League Ministers among those sworn in.

Exam takeaway: A Governor administers the oath to a State's Chief Minister.

Quick revision: Kerala: V D Satheesan sworn in CM with 20 ministers, 18 May 2026 (Hindu).

National and International Affairs

Railways sanctions Rs 238 crore safety works on Jammu-Katra section

19 May 2026 | Press Information Bureau

PIB said Indian Railways has approved slope stabilisation, tunnel rehabilitation and bridge protection works on the Jammu-Shri Mata Vaishno Devi Katra section of Northern Railway at a cost of Rs 238 crore, Railway Minister Ashwini Vaishnaw said on 19 May 2026.

The works also treat tunnel seepage and other safety interventions at vulnerable locations, for the long-term safety and reliability of the section.

Exam takeaway: Slope stabilisation reduces landslide risk along rail cuttings in hilly terrain.

Quick revision: Railways sanctions Rs 238 crore for Jammu-Katra section safety works (PIB, 19 May).

National and International Affairs

Health Minister at 23rd NBEMS convocation: 75,000 more medical seats by 2029; One Nation One Subscription launched

23 May 2026 | Press Information Bureau

PIB said Union Health Minister J. P. Nadda addressed the 23rd Convocation of the National Board of Examinations in Medical Sciences (NBEMS) in New Delhi on 23 May 2026. He said 75,000 more UG and PG medical seats will be added by 2029, of which 23,000 have been established in the past two years.

26,396 candidates received DNB, DrNB, Diploma and FNB qualifications and 137 toppers got gold medals. The Minister launched 11 new academic courses and the One Nation One Subscription (ONOS) initiative.

Exam takeaway: NBEMS is an autonomous body under the Ministry of Health and Family Welfare.

Quick revision: NBEMS 23rd convocation 23 May 2026: 75,000 more medical seats by 2029; ONOS launched (PIB).

National and International Affairs

IIT Madras and IIT Kanpur teams to help CBSE fix post-result re-evaluation portal

24 May 2026 | Press Information Bureau

PIB said Union Education Minister Dharmendra Pradhan directed that a team of professors and technical experts from IIT Madras and IIT Kanpur assist the CBSE in ensuring a glitch-free re-evaluation process, after reports of technical problems on the CBSE post-result services portal.

The teams will examine portal stability, server performance and IT infrastructure, and help correct login authentication, user access and payment gateway issues.

Exam takeaway: CBSE is the Central Board of Secondary Education.

Quick revision: IIT Madras and Kanpur teams to help CBSE fix post-result portal (PIB, 24 May).

National and International Affairs

Government constitutes High-level Committee under the Demography Mission, chaired by Justice Prakash Prabhakar Navlekar (Retd.)

26 May 2026 | Press Information Bureau

PIB said a High-level Committee was set up on 26 May 2026 under the 'High-powered Demography Mission' that the Prime Minister had announced on 15 August 2025. It is chaired by Justice Prakash Prabhakar Navlekar (Retd.), with the Census Commissioner, Durga Shankar Mishra (Retd. IAS), Balaji Srivastava (Retd. IPS) and Dr Shamika Ravi as members.

As described in the release, the Committee will conduct a comprehensive assessment of demographic changes across India linked to illegal immigration and other abnormal reasons. The release carries the Home Minister's statements on the issue.

Exam takeaway: A committee's findings are recommendations; its terms of reference are set by the Government.

Quick revision: High-level Committee under Demography Mission constituted 26 May 2026; chair Justice Navlekar (PIB).

National and International Affairs

Election Commission's Special Intensive Revision: enumeration phase begins in Odisha, Mizoram, Sikkim and Manipur

31 May 2026 | Press Information Bureau

PIB said the Election Commission of India ordered a Special Intensive Revision (SIR) of electoral rolls in 16 States and 3 UTs on 14 May 2026, under Article 324 and Section 21 of the Representation of the People Act, 1950. The objective is that no eligible citizen is left out and no ineligible person is included.

The enumeration phase started on 30 May 2026 for Odisha, Mizoram, Sikkim and Manipur. Electors whose forms reach the ERO on or before 28 June 2026 will be included in the draft rolls; others may apply through Form 6 with a declaration during the claims and objections period.

Exam takeaway: Booth Level Officers conduct house-to-house enumeration during an SIR.

Quick revision: ECI SIR: 16 States and 3 UTs ordered 14 May; enumeration in four States from 30 May; forms by 28 June (PIB).

Reports, Indices, Science and Technology

Cabinet approves two more semiconductor projects in Gujarat worth about Rs 3,936 crore

5 May 2026 | Press Information Bureau

The Union Cabinet approved two more semiconductor projects under the India Semiconductor Mission (ISM) on 5 May 2026, PIB said, with cumulative investment of about Rs 3,936 crore and expected employment for 2,230 skilled professionals. Both are in Gujarat.

Crystal Matrix Limited will set up an integrated compound semiconductor fabrication and ATMP facility at Dholera for Mini/Micro-LED display modules, described as the country's first commercial GaN-based facility of its kind. Suchi Semicon Private Limited will set up an OSAT facility at Surat for discrete semiconductors with capacity of 1,033.20 million chips a year. Approved projects under ISM now total 12, with cumulative investment of around Rs 1.64 lakh crore.

Exam takeaway: OSAT stands for Outsourced Semiconductor Assembly and Test; ATMP is assembly, testing, marking and packaging.

Quick revision: Cabinet: 2 more ISM projects in Gujarat (Rs 3,936 crore); total approved projects 12 (PIB, 5 May 2026).

Reports, Indices, Science and Technology

SEBI issues Master Circular on Surveillance of Securities Market

15 May 2026 | SEBI

SEBI published a Master Circular on Surveillance of Securities Market on its website on 15 May 2026. The page listing carries the title and date; the body of the circular was not read for this edition, so its provisions are not summarised here.

Exam takeaway: SEBI master circulars consolidate earlier circulars on a subject into one document.

Quick revision: SEBI Master Circular on Surveillance of Securities Market, 15 May 2026 (SEBI).

Reports, Indices, Science and Technology

CCI approves Cube Highways Trust's acquisition of four road SPVs

20 May 2026 | Press Information Bureau

PIB said the Competition Commission of India approved the proposed acquisition of 100% equity of Baharampore-Farakka Highways, Devanahalli Tollway, Western MP Infrastructure and Toll Roads and Chenani Nashri Tunnelway by Cube Highways Trust, announced on 20 May 2026.

Cube Trust is an infrastructure investment trust registered with SEBI under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The four target SPVs operate roads and highways under government concessions.

Exam takeaway: An InvIT pools money from investors to own infrastructure assets such as roads.

Quick revision: CCI approves Cube Highways Trust acquisition of four road SPVs (PIB, 20 May).

Reports, Indices, Science and Technology

India's first Biennial Transparency Report: GHG inventory workshop held at CSIR-IIP Dehradun

22 May 2026 | Press Information Bureau

PIB said India has recently submitted its first Biennial Transparency Report (BTR-1) to the UNFCCC. Following this, a three-day workshop on the National Greenhouse Gas Inventory was held from 20 to 22 May 2026 at CSIR-Indian Institute of Petroleum, Dehradun, jointly by CSIR-IIP and the Ministry of Environment, Forest and Climate Change.

Experts from institutions such as CSIR-CIMFR, CMPDI, CII, IIT-ISM Dhanbad and NIAS discussed greenhouse gas accounting for the Energy and Industrial Processes and Product Use (IPPU) sectors.

Exam takeaway: BTRs report a country's emissions and progress under the Paris Agreement's transparency framework.

Quick revision: India submitted BTR-1 to UNFCCC; GHG inventory workshop 20-22 May 2026 (PIB).

Reports, Indices, Science and Technology

Legal Metrology: five fuel dispensing systems added to Government Approved Test Centre framework

24 May 2026 | Press Information Bureau

PIB said the Department of Consumer Affairs has amended the Legal Metrology (Government Approved Test Centre) Rules, 2013 to expand verification infrastructure for weights and measures. Government Approved Test Centres can now verify and re-verify five more categories of dispensing systems: petrol/diesel, CNG, LPG, LNG and hydrogen dispensers.

The release also says States are empowered to notify additional categories and that new verification fees have been notified for fuel dispensers. The move is expected to improve availability of verification services and support cleaner fuel adoption.

Exam takeaway: Legal metrology laws ensure weights, measures and dispensers give accurate quantities to consumers.

Quick revision: Legal Metrology GATC Rules amended: five fuel dispenser types added (PIB, 24 May).