Daily Current Affairs: 2 May 2026

India records gross Goods and Services Tax (GST) collections of ₹2.42 lakh crore in April

Key Updates:

• India's gross Goods and Services Tax (GST) collections for April reached a record high of ₹2.42 lakh crore, an 8.7% increase compared to the same month last fiscal year.
• The previous record high was ₹2.37 lakh crore in April 2025.
• Net GST collections for April 2026 stood at ₹2.11 lakh crore, marking a 7.3% year-on-year increase.
• Total refunds rose 19.3% year-on-year to ₹31,793 crore, leading to a net GST revenue of ₹2,10,909 crore for the month.
• Gross import revenue increased by 25.8% to ₹57,580 crore, while gross domestic revenue rose by 4.3% to ₹1.85 lakh crore.
• Net revenue from customs (GST on imports) surged by 42.9%, while net domestic revenue grew by 0.3%.
• Maharashtra, Karnataka, and Gujarat continued to anchor collections with steady growth.
• Uttar Pradesh, Haryana, Kerala, and Telangana recorded healthy gains or strong increases.
• Bihar, Assam, West Bengal, and Jharkhand saw declines in pre-settlement revenues.
• Double-digit growth was recorded in Arunachal Pradesh, Kerala, Odisha, and Lakshadweep.

National Asset Reconstruction Company Limited (NARCL) recovers ₹4,364 crore in FY26

Key Updates:

• The National Asset Reconstruction Company Limited (NARCL) recovered ₹4,364 crore in FY 2025-26, accounting for nearly 70% of its total recoveries to date.
• Cumulative recoveries by NARCL have reached ₹6,345 crore.
• NARCL has acquired 33 borrower entities with a total debt exposure of ₹1.65 lakh crore.
• The institution has a target of acquiring stressed assets worth ₹2 lakh crore.
• Recoveries have been achieved across 23 accounts, with overall recoveries exceeding 48% of the acquisition cost.
• Three accounts were fully resolved with recovery rates of 148%, 115%, and 183%.
• NARCL has participated in resolution proceedings under the Insolvency and Bankruptcy Code (IBC).

India Post Payments Bank (IPPB) launches zero-balance Self Help Group (SHG) savings account

[India Post Payments Bank]

Key Updates:

• India Post Payments Bank (IPPB), under the Department of Posts, launched a dedicated Self Help Group (SHG) savings account to strengthen financial inclusion for rural women.
• The SHG savings account features zero balance, zero charges, no minimum deposit requirement, and no monthly average balance condition.
• The account allows a maximum balance of ₹2 lakh and provides quarterly interest payouts.
• The account offering includes free cash deposits, withdrawals, and one free monthly statement.
• IPPB will leverage its network of approximately 1.65 lakh post offices, postmen, and Gramin Dak Sevaks to deliver doorstep banking services.
• The bank will utilize digital onboarding and biometric-enabled banking to ensure ease of access.
• The initiative is linked to the National Rural Livelihoods Mission and programmes supported by the National Bank for Agriculture and Rural Development (NABARD).
• Launched in 2018, IPPB has reached over 13 crore customers across more than 5.5 lakh villages and towns.

National Payments Corporation of India (NPCI) marks 10 years of Unified Payments Interface (UPI)

Key Updates:

• The Unified Payments Interface (UPI) was launched in April 2016 by the National Payments Corporation of India (NPCI) under the regulatory ambit of the Reserve Bank of India (RBI).
• UPI annual transaction volume increased from 2 crore in FY17 to over 24,000 crore in FY26.
• Annual transaction value grew from ₹0.07 lakh crore in FY17 to ₹314 lakh crore in FY26.
• Nearly 86% of person-to-merchant transactions on UPI are below ₹500.
• UPI processes an average of 66 crore transactions daily, with peak monthly volumes exceeding 2,200 crore.
• The number of participating banks expanded from 21 at launch to over 700 banks.
• UPI accounts for nearly 49% of global real-time payment transactions by volume.
• UPI is operational in Singapore, the United Arab Emirates (UAE), Bhutan, Nepal, and France.
• The UPI-PayNow linkage enables seamless international transfers.
• UPI is integrated with the JAM trinity, consisting of Jan Dhan, Aadhaar, and Mobile.

Reserve Bank of India (RBI) exempts small non-deposit taking NBFCs from registration

[Reserve Bank of India]

Key Updates:

• The Reserve Bank of India (RBI) will exempt non-deposit-taking Non-Banking Financial Companies (NBFCs) with an asset size of less than ₹1,000 crore from registration and reserve fund requirements effective from July 1, 2026.
• To qualify for the exemption, NBFCs must not avail public funds and must not have any customer interface.
• The exemption applies to the provisions of sections 45IA and 45IC of the RBI Act, 1934.
• Section 45IA concerns registration requirements, while Section 45IC requires NBFCs to transfer 20 per cent of their annual net profit into a reserve fund.
• Existing eligible NBFCs, including those holding Certificate of Registration as Type I NBFC, can apply for deregistration by December 31, 2026.
• These changes are introduced via the Reserve Bank of India (Non-Banking Financial Companies - Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026.
• The RBI has set the asset size of ₹1,000 crore as the threshold level for systemic significance requiring oversight.

Tata AIA Life Insurance launches Shubh Health Criti unit-linked plan

[Tata AIA Life Insurance]

Key Updates:

• Tata AIA Life Insurance (TATA AIA) has launched Shubh Health Criti, a unit-linked life insurance plan that combines life cover with a market-linked health fund.
• The plan provides coverage for over 60 critical illnesses.
• Shubh Health Criti enables policyholders to accumulate funds and withdraw them tax-free for treatment and related medical expenses.
• The plan locks in premiums for 30 years and includes a premium waiver in case of death or disability.
• The policy includes dual-life outpatient (OPD) coverage, accidental death and disability benefits, and a terminal illness rider.
• The product is integrated with Health Buddy, a wellness platform by TATA AIA that provides cancer screenings, routine health check-ups, and personalised health tracking.

Paras Defence and Space Technologies Ltd signs MoU with Complus Systems and JV Micronics for anechoic chamber solutions

[Paras Defence Partners, Complus, JV Micronics]

Key Updates:

• Paras Defence and Space Technologies Ltd (Paras Defence), a Maharashtra-based defence manufacturer, has signed a memorandum of understanding (MoU) with Complus Systems and JV Micronics.
• The partnership focuses on the design, development, manufacturing, installation, and servicing of anechoic and semi-anechoic chambers for India and international markets.
• Paras Defence will act as the consortium leader, overseeing strategic direction, business development, and the manufacturing and installation of chambers and associated filters.
• Complus Systems, an India-based provider of electromagnetic interference, Radio Frequency (RF), and antenna measurement systems, will provide technical expertise and instrumentation procurement.
• JV Micronics will contribute manufacturing, integration, and support services for RF absorbers and related products.

Sahajanand Medical Technologies (SMT) obtains ISO 50001:2018 Energy Management System certification

[Sahajanand Medical Technologies, International Organization for Standardization]

Key Updates:

• Sahajanand Medical Technologies (SMT) has obtained the ISO 50001:2018 Energy Management System certification for its manufacturing facilities in Surat and Hyderabad.
• SMT is the first domestic cardiovascular manufacturing unit to implement a structured approach to energy management.
• SMT has a global presence in more than 75 countries as of March 31, 2025.
• SMT was the first company in the world to receive CE certification for a Drug Eluting Stent (DES) with a biodegradable polymer.

Aarogya Maitri: Portable Healthcare Infrastructure in Jamaica

Key Updates:

• India deployed the Aarogya Maitri portable healthcare system in Jamaica to enhance diplomatic and humanitarian ties.
• The initiative is part of the India-Caribbean Community (CARICOM) engagement strategy and India's Humanitarian Assistance and Disaster Relief (HADR) framework.
• The project is driven by the National Security Council Secretariat (NSCS) and executed in partnership with the Ministry of External Affairs (MEA).
• The modular medical system includes the BHISHM Cube, which is designed for rapid deployment in emergencies across challenging environments.
• RailTel Corporation of India Limited (RailTel) and Green Genome India Pvt Ltd are the key partners involved in the initiative.

Karnataka launches Integrated Public Grievance Redressal System (IPGRS) for gig workers

[Karnataka]

Key Updates:

• The government of Karnataka has operationalised India's first digital grievance redressal mechanism for platform-based gig workers.
• The mechanism was developed by the Karnataka Platform-based Gig Workers’ Board in collaboration with the Department of e-Governance.
• Gig workers can lodge grievances regarding pay, working conditions, and platform-specific disputes through the Integrated Public Grievance Redressal System (IPGRS) portal.

Kailash Mansarovar Yatra 2026: Registration and Route Details

Key Updates:

• The Ministry of External Affairs (MEA) has opened registrations for the Kailash Mansarovar Yatra 2026.
• The registration window is from 30 April 2026 to 19 May 2026 via the official website kmy.gov.in.
• The yatra is scheduled to be conducted from June to August 2026.
• The pilgrimage will be conducted through two routes: Lipulekh Pass in Uttarakhand and Nathu La in Sikkim.
• The Lipulekh Pass route includes 10 batches, a duration of approximately 22 days, and an estimated cost of ₹2.09 lakh per person.
• The Nathu La route includes 10 batches, a duration of approximately 21 days, and an estimated cost of ₹3.31 lakh per person.
• Eligibility criteria include being an Indian citizen aged between 18 and 70 years as of 1 January 2026, with a Body Mass Index (BMI) of 25 or less.
• Applicants must possess an Indian passport valid for at least 6 months as of 1 September 2026.
• Selection is conducted through a computer-generated, random, and gender-balanced draw of lots.
• A non-refundable confirmation amount of ₹5,000 is payable to KMVN for the Lipulekh route or STDC for the Nathu La route.

Uttar Pradesh Development Projects: ₹6,350 Crore Outlay

[Uttar Pradesh]

Key Updates:

• Prime Minister Narendra Modi will visit Uttar Pradesh on April 28-29 to launch development projects worth approximately ₹6,350 crore.
• In Varanasi, the Prime Minister will dedicate 48 completed projects worth over ₹1,050 crore and lay the foundation stone for 112 projects worth around ₹5,300 crore.
• Key infrastructure projects in Varanasi include the Varanasi-Azamgarh Road widening, rail over bridges at Kazzakpura and Kadipur, and a sewage treatment plant with a capacity of 55 MLD in Bhagwanpur.
• Two new Amrit Bharat Express trains will be flagged off on April 28: Varanasi to Pune (Hadapsar) and Ayodhya to Mumbai (Lokmanya Tilak Terminus).
• The 594-km-long Ganga Expressway will be inaugurated in Hardoi on April 29.
• The Ganga Expressway is a six-lane (expandable to eight lanes), access-controlled greenfield high-speed corridor built at a total cost of around ₹36,230 crore.
• The Ganga Expressway traverses 12 districts: Meerut, Bulandshahr, Hapur, Amroha, Sambhal, Budaun, Shahjahanpur, Hardoi, Unnao, Raebareli, Pratapgarh, and Prayagraj.
• The Ganga Expressway includes a 3.5-km-long Emergency Landing Facility (airstrip) in Shahjahanpur district.
• The expressway serves as a backbone for a network including the Agra-Lucknow Expressway, Jewar Link Expressway, Farrukhabad Link Expressway, and a proposed extension from Meerut to Haridwar.

PM SVANidhi Scheme: Namo Stalls introduced for Ranchi street vendors

Key Updates:

• Union Minister of State for Defence Sanjay Seth introduced Namo Stalls in Ranchi under the Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme.
• The initiative provides street vendors with pushcarts equipped with storage capacity, weighing scales, and sheds for protection from rain and lightning.
• In the initial phase, pushcarts were distributed to 5 per cent of street vendors.
• The government plans to install solar cells on each pushcart to generate electricity for LED lights and mobile charging.
• The stalls cannot be sold for five years, and the displayed contact information of the vendor cannot be changed.
• The project was implemented with the assistance of the RMC.

India chairs BRICS MENA meeting in New Delhi on 24 April 2026

[Ministry of External Affairs (India), BRICS]

Key Updates:

• Dr. Neena Malhotra, Secretary South of the Ministry of External Affairs (MEA), chaired the meeting of BRICS Deputy Foreign Ministers and Special Envoys for the Middle East and North Africa (BRICS MENA) in New Delhi.
• The discussions focused on the Palestine issue, the Gaza situation, the provision of humanitarian aid, and the role of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA).
• The meeting emphasized a zero-tolerance approach to terrorism, welcomed the ceasefire in Lebanon, and addressed the unacceptability of attacks on the United Nations Interim Force in Lebanon (UNIFIL).
• The participants discussed post-conflict reconstruction and rehabilitation in Syria.
• The meeting covered the political settlement in Yemen, stability and development in Iraq, the political process in Libya, and the humanitarian crisis in Sudan.

Parveen Shaikh receives Whitley Award for Indian Skimmer conservation

Key Updates:

• Avian ecologist Parveen Shaikh was honoured with the Whitley Award by the UK-based Whitley Fund for Nature (WFN).
• The award recognises her efforts to protect the endangered Indian Skimmer and the expansion of her community-led conservation model to Prayagraj in the Ganga Basin.
• India is home to over 90 per cent of the global population of the Indian Skimmer, which consists of around 3,000 birds.
• The Guardians of the Skimmer initiative along the Chambal River increased nest survival rates from 14 per cent to 27 per cent.
• The local population of Indian Skimmers rose from approximately 400 birds in 2017 to nearly 1,000 last year.
• The award was presented on 29 April by Anne, Princess Royal at the Royal Geographical Society in London.
• The Chambal Sanctuary hosts the largest breeding population of Indian Skimmers and extends over 600 km along the Chambal River, a tributary of the Yamuna.
• Conservation strategies include appointing local nest guardians, installing predator-proof fencing, and introducing experimental artificial nesting platforms in Chambal.

India Launches Indigenous Silicon Photonics Solutions at Indian Institute of Technology Madras (IIT-Madras)

[Ministry of Electronics and Information Technology (India), Tamil Nadu]

Key Updates:

• The Ministry of Electronics and Information Technology (MeitY) launched indigenously developed Silicon Photonics solutions at the Indian Institute of Technology Madras (IIT-Madras) in Chennai.
• The launch introduced two key innovations: a Silicon Photonics Process Design Kit (PDK) and a Universal Programmable Photonic Integrated Circuit (PPIC) Test Engine.
• Both technologies were developed at the MeitY-supported Centre of Excellence for Compound Photonics and Photonic Integrated Circuits Systems (CoE-CPPICS) at IIT-Madras.
• The PDK includes more than 50 verified components for building advanced photonic integrated circuits.
• The PPIC Test Engine is an automated platform for testing and characterising photonic and optoelectronic modules.
• The initiative was developed under a Product Research, Development and Manufacturing (PRDM) model using CMOS-compatible Silicon Photonics technology.
• The project is supported by SilTerra Malaysia as the foundry partner and izmo Microsystems, Bengaluru, for photonic IC packaging.
• Multi-project wafer (MPW) fabrication runs are scheduled to start in the third quarter of the current financial year.
• The CEO of the India Semiconductor Mission (ISM), Amitesh Sinha, stated that the technology has applications in both classical and emerging quantum domains.

National Rifle Association of India (NRAI) celebrates 75th anniversary and launches Athlete App

[National Rifle Association of India (NRAI)]

Key Updates:

• Union Minister of Youth Affairs and Sports Dr. Mansukh Mandaviya inaugurated the 75th-year anniversary ceremony of the National Rifle Association of India (NRAI) in New Delhi on 27 April.
• The NRAI launched a new Athlete App, making it India's first fully digitalised sports federation.
• The NRAI announced a grassroots campaign to introduce 7,50,000 school and college students to shooting through a 10-shot experience before the 2028 Olympics.
• The grassroots initiative will be implemented in coordination with the Central Board of Secondary Education (CBSE), Kendriya Vidyalaya Sangathan (KVS), universities, state school boards, and state rifle associations.
• The NRAI introduced the Shooting League of India (SLI), which will be India's first franchise-based professional shooting league.
• The Athlete App will serve as an integrated hub for athlete registration, onboarding students, issuing certificates, maintaining records, and monitoring the performance of elite and international shooters.

Maharashtra Day observed on May 1

[Maharashtra]

Key Updates:

• Maharashtra Day is observed on May 1 to mark the formation of the state in 1960.
• The state was formed under the Bombay Reorganisation Act, 1960, which divided the Bombay State into Maharashtra and Gujarat along linguistic lines.
• The formation of the state followed the Samyukta Maharashtra Movement, a political push for a separate Marathi-speaking state.
• The occasion coincides with International Workers' Day and Buddha Purnima.
• A parade is organised at Shivaji Park, attended by government officials and dignitaries.
• The National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) remain closed on this day.
• Banks remain shut in accordance with Reserve Bank of India (RBI) guidelines.

Gujarat Sthapana Divas observed on May 1

[Gujarat]

Key Updates:

• Gujarat Sthapana Divas (Gujarat Day) is celebrated annually on May 1.
• The state of Gujarat was formed in 1960 after the former Bombay State was divided into Maharashtra and Gujarat on linguistic lines.
• The term Gujarat is derived from the Sanskrit word Gurjar-Rashtra, meaning the country of the Gurjars or Gujars.
• The formation of the state followed agitations by the Mahagujarat Movement and the Samyukta Maharashtra movement.
• Ahmedabad served as the first capital of Gujarat.
• The capital of Gujarat was moved to Gandhinagar in 1970.
• Gujarat was one of the main central areas of the Indus Valley Civilisation.
• The Gurjars ruled Gujarat in the 8th and 9th centuries CE.

International Labour Day observed on May 1 with theme Ensuring a Healthy Psychosocial Working Environment

Key Updates:

• International Labour Day, also known as May Day or Antrarashtriya Shramik Diwas in India, is observed annually on May 1.
• The theme for International Labour Day 2026, selected by the International Labour Organisation (ILO), is Ensuring a Healthy Psychosocial Working Environment.
• The day originated from the Haymarket Affair in Chicago in 1886, where labourers demonstrated for an 8-hour workday.
• In India, the day is used to draw attention to issues including child labour, wage disparity, and the absence of social security for unorganised workers.
• The article notes Chennai's worker movement in 1923.
• The Indian states of Tamil Nadu, West Bengal, and Kerala observe May Day as a public holiday.

Times Higher Education (THE) Asia University Rankings 2026 released

Key Updates:

• The Times Higher Education (THE) Asia University Rankings 2026 evaluated 929 universities across 36 countries and territories.
• Tsinghua University of China secured the top position for the eighth consecutive year.
• India is the most represented nation in the rankings with 128 institutions.
• The Indian Institute of Science (IISc) Bengaluru is the highest-ranked Indian institution at 43rd position and the only Indian representative in the top 100.
• India has 12 institutions in the top 200.
• The Indian institutions ranked in the top 200 are: Indian Institute of Science (IISc) Bengaluru, Saveetha Institute of Medical and Technical Sciences, Indian Institute of Technology (IIT) Indore, Shoolini University of Biotechnology and Management Sciences, Jamia Millia Islamia, KIIT University, Aligarh Muslim University, National Institute of Technology (NIT) Rourkela, Lovely Professional University, Manipal Academy of Higher Education, Thapar Institute of Engineering and Technology, and University of Delhi.
• The University of Tokyo is the only Japanese university in the top 10.
• Several Indian Institute of Technology (IIT) campuses, including Delhi, Bombay, Madras, Kanpur, Kharagpur, Roorkee, and Guwahati, boycotted the rankings.

Nitin Paranjpe appointed Non-executive Vice Chairman of Infosys

Key Updates:

• Nitin Paranjpe has been appointed as the non-executive Vice Chairman of the board of Infosys.
• The appointment is effective immediately.
• Paranjpe serves as the non-executive Chairman of Hindustan Unilever Ltd (HUL).
• Paranjpe is the non-executive Vice Chairman of Heineken NV.
• He will support Chairman Nandan Nilekani in guiding the board and strategic agenda.
• Nandan Nilekani will continue as the Chairman of the board.

Justice Anupinder Grewal Appointed President of National Company Law Tribunal (NCLT)

[National Company Law Tribunal (India)]

Key Updates:

• Justice (retired) Anupinder Singh Grewal has been appointed President of the National Company Law Tribunal (NCLT).
• The Appointments Committee of the Cabinet cleared his appointment on April 29.
• He will hold office for five years from the date he assumes charge or until he attains the age of 67, whichever is earlier.
• He succeeds Justice (retired) Ramalingam Sudhakar, former Chief Justice of the Manipur High Court.
• Justice Grewal is the first senior puisne judge of a high court to be appointed as the NCLT president.
• The NCLT was established under the Companies Act, 2013, to adjudicate company law disputes, insolvency proceedings under the Insolvency and Bankruptcy Code, mergers, and amalgamations.
• Justice Grewal previously served as a judge of the Punjab and Haryana High Court and the Rajasthan High Court.

Vijay Kumar passes away as veteran Indian golfer

Key Updates:

• Veteran Indian golfer Vijay Kumar passed away at the age of 57 in Lucknow due to a heart attack.
• He won the Indian Open in 2002.
• He was a four-time Order of Merit champion.
• He is one of only nine Indian golfers to have won the Indian Open.
• He turned professional in 1988.
• He represented India at the Alfred Dunhill Cup 1999 played at St. Andrews in Scotland.

Shreyas Iyer appointed brand ambassador for F1 Sim Racing India Open 2026

Key Updates:

• Mumbai Falcons Racing Limited (MFRL) appointed cricketer Shreyas Iyer as the official brand ambassador for its F1 programme.
• The partnership is headlined by the launch of the F1 Sim Racing India Open 2026.
• The event is the first country-exclusive competitive sim racing platform sanctioned by Formula 1 (F1).
• The competition will be played on F1 25, the official Fédération Internationale de l'Automobile (FIA) Formula 1 World Championship game.
• The tournament includes online qualifiers open to participants on PC, PlayStation 5, and Xbox.
• Narain Karthikeyan, India's first F1 driver, is part of the project's advisory.
• The initiative is positioned within the context of the Promotion and Regulation of Online Gaming Act, 2025.