Daily Current Affairs: 3 May 2026

Reserve Bank of India (RBI) announces 98.47% of Rs 2,000 notes returned since withdrawal announcement

[Reserve Bank of India]

Key Updates:

• The Reserve Bank of India (RBI) stated that 98.47% of Rs 2,000 denomination banknotes in circulation as on May 19, 2023 have been returned as of April 30, 2026.
• The withdrawal of Rs 2,000 notes from circulation was announced on May 19, 2023 as part of currency management.
• The total value of Rs 2,000 banknotes in circulation stood at Rs 3.56 lakh crore at the close of business on May 19, 2023.
• The value of Rs 2,000 banknotes in circulation declined to Rs 5,451 crore at the close of business on April 30, 2026.
• RBI clarified that Rs 2,000 banknotes continue to remain legal tender.

Office of the United States Trade Representative (USTR) retains India on Special 301 priority watch list

[United States Trade Representative]

Key Updates:

• USTR retained India on its Special 301 priority watch list, along with China, Russia, Indonesia, Chile, and Venezuela.
• Vietnam was designated as a Priority Foreign Country, the first such designation in 13 years, and USTR will decide on a Section 301 investigation within 30 days.
• Argentina was removed from the priority watch list, while the European Union was added to the watch list.
• USTR criticised India's patent regime, weak enforcement of copyrights and trademarks, and high customs duties on IP-intensive products such as ICT, solar energy equipment, medical devices, pharmaceuticals, and capital goods.
• USTR stated that India remains 'one of the world's most challenging major economies' with respect to the protection and enforcement of intellectual property.

Ministry of Home Affairs (MHA) notifies Citizenship (Amendment) Rules, 2026 with e-OCI and minor child passport restrictions

Key Updates:

• The Ministry of Home Affairs (MHA) notified the Citizenship (Amendment) Rules, 2026, which came into force on April 30, 2026.
• Under the new rules, a minor child cannot simultaneously hold a passport of another country while holding an Indian passport.
• Overseas Citizenship of India (OCI) registration must now be submitted fully online through the portal https://ociservices.gov.in.
• OCI cards can be issued either as a physical card or as an electronic (e-OCI) registration, with records maintained electronically in revised Form 30.
• OCI applicants must provide consent for sharing biometric data for automatic registration under the Fast Track Immigration Programme.

Multi-Lane Free Flow (MLFF) barrier-less tolling system: reduces travel time and decongests highways

Key Updates:

• The National Highway Authority of India (NHAI) operationalised India's first Multi-Lane Free Flow (MLFF) barrier-less tolling system at the Choryasi toll plaza on the Surat–Bharuch section of NH-48 in Gujarat on May 1, 2026.
• The MLFF system uses high-performance Radio Frequency Identification (RFID) readers and Automatic Number Plate Recognition (ANPR) cameras to read FASTag and Vehicle Registration Number, removing the need for boom barriers and vehicles to stop for toll collection.
• The Ministry of Road Transport and Highways (MoRTH) issued new National Highway Fee rules for unpaid user fees: commuters must pay double the applicable toll amount, but if paid within 72 hours, only the original fee applies; an e-notice with vehicle details is issued, and a grievance redressal mechanism allows challenging the e-notice within 72 hours.
• Indian Highways Management Company Limited (IHMCL) has awarded MLFF contracts for toll plazas at Gharaunda (Haryana), Boariach (Gujarat), Daulatpura, Manoharpura, Shahjahanpur (Rajasthan), Mundaka (Delhi), Nemili, Chenasamudram, Paranur (Tamil Nadu), Kasepalli, Amakathadu, Marur (Andhra Pradesh), Chalakwadi, Hiwargaon Pavsa (Maharashtra), and Badarpur Faridabad (Haryana); bids have been invited for an additional 108 fee plazas.
• According to the Economic Survey 2025-26, the MLFF is projected to be implemented across all four-lane and above national highways and expressways by March 2029.

Indian Navy receives delivery of fourth Nilgiri-class stealth frigate Mahendragiri from Mazagon Dock Shipbuilders (MDL)

[Indian Navy (India)]

Key Updates:

• The Indian Navy has received delivery of Mahendragiri, a Project-17A Nilgiri-class frigate from Mazagon Dock Shipbuilders (MDL).
• The Nilgiri-class frigates are an improvement over the Project-17 Shivalik-class and are designed in-house by the Naval Design Bureau.
• The primary offensive weapons are eight Brahmos supersonic anti-ship missiles, and the air defence is provided by the Medium Range Surface to Air Missile (MR-SAM).
• The ship is named after a peak in the Eastern Ghats; previous ships include INS Taragiri, and two ships INS Himgiri and INS Udaygiri were commissioned together in August last year.
• The navy has ordered seven Nilgiri-class frigates, with MDL building four and Garden Reach Shipbuilders & Engineers (GRSE) building the other three, and is working on the Next Generation Frigates under Project-17B.

India and Italy strengthen defence ties; Rajnath Singh meets Italian counterpart Guido Crosetto, exchange Military Cooperation Plan

[Italy]

Key Updates:

• Defence Minister Rajnath Singh held bilateral talks with his Italian counterpart Guido Crosetto in New Delhi and exchanged a Bilateral Military Cooperation Plan (MCP) for 2026-27.
• The meeting was held at the Manekshaw Centre and focused on enhancing military engagements and expanding defence industrial cooperation between India and Italy.
• Both ministers reaffirmed that the India-Italy Strategic Partnership is rooted in shared values of peace, stability, freedom, and mutual respect.
• The Ministry of Defence (MoD) stated that the newly exchanged MCP outlines a roadmap for structured military interactions between the armed forces of both nations over the next year.
• Earlier in the day, Guido Crosetto paid tribute to fallen soldiers by laying a wreath at the National War Memorial and was accorded a ceremonial tri-service Guard of Honour at the Manekshaw Centre.

India explores sixth-generation fighter partnership, AMCA RFP to be issued soon; DRDO ready for Agni-VI: Defence Secretary and DRDO Chief

Key Updates:

• Defence Secretary Rajesh Kumar Singh stated that the request for proposal (RFP) for the Advanced Medium Combat Aircraft (AMCA) is likely to be issued soon to shortlisted private sector players.
• India has reached out to two international three-country programmes for collaboration on developing sixth-generation fighter aircraft.
• Singh said India is working towards developing a multi-layered conventional missile force spanning short, medium and long ranges.
• Defence Research and Development Organisation (DRDO) Chief Samir V Kamat said India's LR-AShM hypersonic glide missile programme has reached an advanced stage, with initial trials expected soon.
• Kamat said the Agni-VI ballistic missile programme depends on a government decision, and the agency is fully prepared to proceed when approval is granted.

Prime Minister Modi to undertake week-long Europe visit from around May 18, likely to meet Pope

Key Updates:

• Prime Minister Narendra Modi will undertake a week-long visit to Europe from around May 18, with a possible stop at the Vatican for a meeting with the Pope.
• Modi will first visit Norway to participate in the third India-Nordic summit in Oslo alongside leaders from Norway, Sweden, Denmark, Finland, and Iceland.
• The India-Nordic summit is expected to focus on green energy, climate change, blue economy, innovation, digitalisation, and Arctic cooperation.
• Modi is also likely to visit the Netherlands (key partner in water management, agriculture, technology, semiconductor industry) and Italy for his first bilateral visit (discussions on defence, energy, investment, and the India-Middle East-Europe Economic Corridor).
• In mid-June, Modi will visit France for the G7 Outreach summit.

National Institute of Ocean Technology (NIOT) to install high-frequency radar along Karaikal coast

Key Updates:

• The National Institute of Ocean Technology (NIOT) will deploy a high-frequency (HF) radar along Puducherry's coastline.
• The radar will measure surface currents and waves up to 200 km offshore.
• The HF radar will support real-time ocean monitoring, data validation, and early warning of severe weather events including cyclones.
• NIOT has identified two suitable locations for installation: Kilinjalmedu and Akkempettai in Karaikal.
• The HF radar station in Karaikal will operate in pairing mode with the existing station at Cuddalore to improve accuracy and resolution of coastal current measurements.

DRDO announces readiness for Agni VI ballistic missile and hypersonic glide missile programme on April 30, 2026

Key Updates:

• Defence Research and Development Organisation (DRDO) Chairman Samir V Kamat confirmed that the Agni VI missile project is ready to begin once the Centre grants approval.
• Agni VI is a proposed next-generation, nuclear-capable Intercontinental Ballistic Missile (ICBM) with a range of 6,000–10,000 km and advanced MIRV technology.
• DRDO is making strong progress on the hypersonic glide missile (LR AShM) and initial trials are expected soon.
• DRDO is working on two hypersonic programmes: the Hypersonic Glide Missile and the Hypersonic Cruise Missile.
• The Pralay short-range ballistic missile system is in its final testing stages and could join the armed forces soon.

Vietnamese President To Lam to visit India from May 5-7

[Vietnam]

Key Updates:

• Vietnamese President To Lam will undertake a State visit to India from May 5 to 7 at the invitation of Prime Minister Narendra Modi, the Ministry of External Affairs (MEA) announced.
• President To Lam, who also serves as the General Secretary of the Communist Party of Vietnam, will be accompanied by a high-level delegation including ministers, senior officials, and a business delegation.
• During the visit, President To Lam will be accorded a ceremonial welcome at Rashtrapati Bhavan on May 6 and will hold wide-ranging discussions with Prime Minister Modi covering bilateral relations and regional/global issues.
• President Droupadi Murmu will also meet the visiting leader, and President To Lam will visit Bodh Gaya and Mumbai as part of his itinerary.
• The visit coincides with the 10th anniversary of the elevation of India-Vietnam relations to a Comprehensive Strategic Partnership, established during Prime Minister Modi’s visit to Vietnam in 2016.

India plans multi-layered conventional missile force spanning short, medium and long ranges

Key Updates:

• The announcement was made by Defence Secretary Rajesh Kumar Singh at the ANI National Security Summit 2.0 in New Delhi on 30 April 2026.
• Chairman of the Defence Research and Development Organisation (DRDO), Samir V Kamat, confirmed that the proposed missile force will include ballistic missiles for short, medium and extended ranges, complemented by cruise missiles and hypersonic systems.
• The Pralay short-range ballistic missile has reached final testing stages and is expected to be operational shortly, according to DRDO.
• India is developing two hypersonic programmes: a glide missile (nearest initial trials) and a cruise missile with a scramjet engine (awaiting formal approval).
• DRDO achieved a milestone by sustaining scramjet propulsion for over 1,000 seconds; converting this technology into an operational missile system would require approximately five years.

India and Sri Lanka conduct 4th edition of bilateral diving exercise IN-SLN DIVEX 2026

[Indian Navy, Sri Lanka Navy]

Key Updates:

• The fourth edition of the bilateral diving exercise IN-SLN DIVEX 2026 was conducted at Colombo from April 21-28.
• The Indian Navy's Diving Support and Submarine Rescue Vessel INS Nireekshak participated alongside diving teams from both navies.
• A key highlight was the execution of mixed gas dives off Colombo over World War-era wrecks SS Worcester and SS Perseus.
• Divers from both navies successfully executed deep-sea dives beyond 55 metres, enhancing joint underwater search, rescue, and salvage capabilities.
• Two BHISM (Bharat Health Initiative for Sahyog, Hita and Maitri) cubes were handed over under India's Aarogya Maitri initiative during the exercise.

National Disaster Management Authority (NDMA) Conducts Nationwide Test of Indigenous Cell Broadcast Emergency Alert System

[National Disaster Management Authority (India)]

Key Updates:

• The National Disaster Management Authority (NDMA) conducted a nationwide test of the indigenous Cell Broadcast emergency alert system on May 2, 2026.
• The system is being developed by the Department of Telecommunications under the Ministry of Communications and the NDMA.
• The platform used for the system is SACHET, developed by the Centre for Development of Telematics (C-DOT).
• The alert messages, labelled 'Extremely Severe Alert', were sent to mobile phones across the country simultaneously.
• The test aimed to enhance the speed of safety message delivery during actual disasters.

Karnataka launches India's first state-led Centre of Excellence for Space Technology in Bengaluru

[Karnataka]

Key Updates:

• The Karnataka government launched the country's first state-led Centre of Excellence for Space Technology in Bengaluru on May 1, 2026.
• The Centre was established by the Karnataka government through the Karnataka Innovation and Technology Society (KITS) in collaboration with the Satcom Industry Association India (SIA-India).
• The Centre was inaugurated by Minister for Electronics, IT/BT, and Rural Development and Panchayat Raj, Priyank Kharge.
• The CoE SpaceTech Foundation has been established under a Memorandum of Agreement between KITS and SIA-India to drive research and innovation in space technologies.
• The Centre has formalised strategic MoUs with multiple industry and academic partners to support research in space biotech and microgravity, enable collaboration, build talent pipelines, and provide startups with training and market access.

Russia successfully test-launches Soyuz-5 rocket from Baikonur

[Russia]

Key Updates:

• Russia successfully test-launched its new Soyuz-5 rocket from the Baikonur cosmodrome in Kazakhstan.
• The Russian Federal Space Agency (Roscosmos) confirmed the flawless lift-off.
• The Soyuz-5 is equipped with the world's most powerful liquid-fuelled engine.
• The rocket can carry up to 17 metric tonnes into near Earth orbit.
• The development aims to reduce launch costs and create new jobs in Russia and Kazakhstan.

US-India NISAR Mission Tracks Rapid Land Subsidence in Mexico City

Key Updates:

• The NISAR satellite, a joint mission between the National Aeronautics and Space Administration (NASA) and the Indian Space Research Organisation (ISRO), was launched in July 2025.
• Data from NISAR shows parts of Mexico City subsiding by more than 2 centimetres per month, using its L-band radar system that captures surface changes regardless of weather or time of day.
• Mexico City, built over an ancient lakebed, has experienced subsidence due to decades of groundwater extraction and urban infrastructure weight, with some areas sinking as much as 35 centimetres annually by the late 20th century.
• NISAR is the first satellite equipped with dual-frequency synthetic aperture radar, orbiting Earth every 12 days and deploying a 12-metre reflector, the largest radar antenna ever used by NASA.
• Key landmarks within the subsidence zone include Benito Juárez International Airport and the Angel of Independence, where additional steps have been added over time due to ground level changes.

Indian Space Research Organisation (ISRO) Team Visits Japan for Chandrayaan-5 Launch Site Assessment

[Japan]

Key Updates:

• Indian Space Research Organisation (ISRO) team visited Japan to evaluate launch site preparations for the 2028 Chandrayaan-5 mission.
• The visit aimed at assessing launch facility preparations, technical compatibility, and joint mission planning between ISRO and Japan Aerospace Exploration Agency (JAXA).
• ISRO and JAXA have increased cooperation in satellite technology, earth observations, and lunar exploration.
• Deliberations included evaluation of launch mechanism, safety considerations, and environmental conditions for deep space missions.
• Chandrayaan-5 is expected to be equipped with advanced devices, conduct extensive lunar research, and improve landing systems.

Thomas and Uber Cup 2026: India men and women teams begin campaigns in Horsens, Denmark

Key Updates:

• The 2026 Thomas and Uber Cup championships are being held in Horsens, Denmark from April 24 to May 3.
• Indian men face defending champions Canada in Group A, while the women's team takes on Denmark in the opening round.
• Both Indian teams are seeded eighth in the tournament based on their individual players' world rankings.
• The Indian men created history by winning the 2022 edition of the Thomas Cup.
• The Indian women's team won bronze medals in the 2014 and 2016 editions of the Uber Cup.

India defeats Chinese Taipei to reach Thomas Cup semifinals

Key Updates:

• India assured its second Thomas Cup medal by defeating Chinese Taipei 3-0 in the quarterfinals.
• The quarterfinal match was held in Horsens.
• Lakshya Sen defeated Chou Tien Chen 18-21, 22-20, 21-17 in the first singles.
• Satwiksairaj Rankireddy and Chirag Shetty defeated Wang Chi Lin and Chiu Hsiang Cheh 23-21, 19-21, 21-12 in the doubles.
• Ayush Shetty defeated Lin Chun-Yi 21-16, 21-17 in the second singles to seal the win.

Ippa Puvvu Panduga (Mahua flower festival) celebrated in Adilabad, Telangana on April 30, 2026

[Telangana]

Key Updates:

• The Mahua flower festival, locally known as Ippa Puvvu Panduga, was celebrated in Adilabad district of Telangana.
• The festival was held at Jamidi village in Narnoor mandal on April 30, 2026.
• The event was organised under the aegis of the Integrated Tribal Development Agency, Utnoor, in association with Adivasi (Gondwana) organisations.
• Adilabad Collector Rajarshi Shah emphasised the role of ippa (mahua) flowers in supporting the tribal economy and called for scientific collection.
• The collector also highlighted the need for conserving trees and preserving the glorious tribal heritage.

QS Executive MBA Rankings 2026: South Korea enters for first time, IIM Bangalore slips to 64th

[Quacquarelli Symonds, Indian Institute of Management Bengaluru]

Key Updates:

• South Korea entered the QS Executive MBA Rankings for the first time in 2026, with Korea University Business School placed 76th globally.
• Quacquarelli Symonds (QS) released the Executive MBA Rankings 2026.
• The Indian Institute of Management Bangalore (IIM Bangalore) is ranked 64th globally, down from 50th last year.
• Seven Indian business schools feature in the QS Executive MBA Rankings 2026.
• India is the second-most represented country in the Asia-Pacific region after China in the rankings.

Rohit Jain Appointed as RBI Deputy Governor

[Reserve Bank of India]

Key Updates:

• Rohit Jain was appointed as Deputy Governor (DG) of the Reserve Bank of India (RBI) by the appointments committee of the cabinet.
• His appointment is for a period of three years from the date of joining on or after May 3, 2026.
• He replaced T Rabi Sankar, whose tenure ended on May 3, 2026, after receiving two extensions in 2024 and 2025.
• Jain had served as an Executive Director (ED) at the RBI since December 2020 and has spent about 30 years at the central bank, handling functions including banking supervision.
• Jain became one of the two deputy governors promoted from within the RBI, along with SC Murmu, while the other deputy governors include Poonam Gupta and Swaminathan J.

Bharat Khera Assumes Charge as MSME Secretary

[Ministry of Micro, Small and Medium Enterprises (India)]

Key Updates:

• Bharat Khera, a 1995-batch IAS officer of the Himachal Pradesh cadre, has taken charge as Secretary in the Ministry of Micro, Small and Medium Enterprises (MSME).
• Prior to this appointment, he served as Additional Secretary in the Department of Consumer Affairs.
• He served as Joint Secretary in the Ministry of Defence from 2014 to 2020, handling matters related to the Indian Air Force and coordinating Republic Day celebrations for four consecutive years.
• Khera has worked in the Cabinet Secretariat and held state-level positions in Himachal Pradesh including Home Secretary and Principal Secretary across multiple departments.
• He holds an engineering degree from BITS Pilani, a Master of Public Administration from Syracuse University, and was a Chevening Gurukul Fellow at the London School of Economics.

Ashutosh Gowariker appointed festival director for 57th International Film Festival of India

Key Updates:

• Filmmaker Ashutosh Gowariker has been appointed as the festival director for the 57th edition of the International Film Festival of India (IFFI).
• Gowariker succeeds filmmaker Shekhar Kapur, who served as festival director for the 55th and 56th editions of IFFI.
• IFFI is held annually in Goa and was established in 1952 as one of Asia's premier film festivals.
• Gowariker is known for directing films such as Lagaan, Swades, and Jodhaa Akbar.
• The Information and Broadcasting Ministry stated that Gowariker has a distinguished contribution to Indian cinema and a long association with IFFI, including serving as Jury President for International Cinema in 2024.

Anugraha Narayana Das assumed charge as Controller General of Defence Accounts

[Controller General of Defence Accounts (India)]

Key Updates:

• Anugraha Narayana Das, a 1991-batch officer of the Indian Defence Accounts Service (IDAS), assumed charge as Controller General of Defence Accounts (CGDA) with effect from May 1.
• He previously served as Additional Controller General of Defence Accounts and has over three decades of experience in defence financial management and public administration.
• He is an alumnus of Utkal University and ICPE University of Ljubljana, and has undergone professional training at Indian Institute of Management Bangalore and Duke University.
• His key assignments include Director in the Ministry of Water Resources, Additional Financial Adviser and Joint Secretary in the Ministry of Defence, Principal Integrated Financial Adviser at Army Headquarters, and Special Controller General of Defence Accounts at CGDA Headquarters.

Vishvajit Sahay assumes charge as Defence Finance Secretary

Key Updates:

• Vishvajit Sahay, a 1990-batch officer of the Indian Defence Accounts Service (IDAS), assumed charge as Secretary (Defence Finance) in the Ministry of Defence on 1 May 2026.
• Prior to this appointment, he served as the Controller General of Defence Accounts (CGDA).
• He is an alumnus of St. Stephen's College, University of Delhi, and a law graduate with over three decades of experience in defence finance and public administration.
• His previous key positions include Additional Secretary and Financial Adviser in the Department of Science and Technology, Joint Secretary in the Department of Heavy Industries, Finance Manager in the Acquisition Wing of the Ministry of Defence, and Director in the Ministry of Information and Broadcasting.
• Within the Defence Accounts Department, he has also served as Principal Controller of Defence Accounts (Pensions) in Prayagraj, Joint CGDA, and Special CGDA, and represented India at training programmes at the University of Cambridge and the George C. Marshall European Centre for Security Studies.

Social activist Dijo Kappen passed away

Key Updates:

• Dijo Kappen, a noted social activist for consumer and farmer rights, passed away at the age of 69 at a private hospital in Pala.
• He served as the Kerala University Union general secretary in 1982 and was a member of the academic council and senate at Kerala University.
• He was the state president of Kerala Students Congress from 1983 to 1985 and state president of Kerala Youth Front from 1989 to 1991.
• After retiring from active politics in 1998, he worked at the Center for Consumer Education and secured favourable verdicts in at least two dozen public interest litigations in the Supreme Court and high court.
• He held leadership roles including president of the Public Transport Protection Committee, Sabari Railway Central Action Council, and Democratic Human Rights and Environment Protection Forum.
• He was a senate member at Mahatma Gandhi University (MG University) for 10 years.

V Hanumantha Rao appointed as Backward Classes (BC) welfare adviser

[Telangana]

Key Updates:

• V Hanumantha Rao, former MP and senior Congress leader, was appointed as adviser for the Backward Classes (BC) welfare department by the Telangana government with the status of a minister of state.
• He will receive a monthly salary of Rs 1,00,000 and a house rent allowance of Rs 50,000 per month if a government quarter is not allotted.
• He will be eligible for a conveyance allowance of Rs 30,000 per month and fuel expenses of Rs 15,000 for using his personal vehicle on official duties.
• He will have access to a government vehicle with a driver and medical expense reimbursement on par with All India Services officers and ministers.
• Special staff, including a private secretary, a data entry operator, two office subordinates, and a driver, will be allocated for his advisory role, with expenditure met from the BC welfare department's regular budget.

Om Birla rejigs 4 House panels for 2026-27; most chiefs stay on

Key Updates:

• Lok Sabha Speaker Om Birla reconstituted four parliamentary committees for the 2026-27 financial year.
• The committees were officially reconstituted on May 1, 2026, and will serve till April 30, 2027.
• BJP MP Faggan Singh Kulaste was reappointed chairperson of the Committee on the Welfare of Scheduled Castes and Scheduled Tribes.
• Congress leader KC Venugopal was reappointed chairperson of the Public Accounts Committee.
• The Public Accounts Committee consists of not more than 22 members, comprising 15 elected by the Lok Sabha and not more than seven from the Rajya Sabha.