Saturday, May 16

Daily Current Affairs: 16 May 2026

Daily current affairs for 16 May 2026 with exam-focused key facts, connected news context, and revision notes for UPSC, SSC, banking and government exams.

Editorial note for exam revision Last updated: 16 May 2026. This briefing is structured for current affairs revision, with key updates and related coverage links to help readers connect recurring topics across days.

Today at a glance

Top current affairs to revise

  1. European Union (EU) restores India on seafood export list to support
    Editorial note for exam revision Last updated: 16 May 2026. This briefing is structured for current affairs revision, with key updates and related coverage links to help readers connect recurring topics across days.
    .593 billion trade
  2. TCRC and Afghan National Standards Authority (ANSA) sign $46.3 million modernisation deal
  3. Government of India records wholesale inflation at 8.3% for April
  4. Reserve Bank of India (RBI) removes approval requirement for banks' outward remittance tie-ups with fintechs
  5. CTBC Bank of Taiwan opens branch at GIFT City
  6. Mahey Tokpo-Raldho Irrigation Canal Project Strengthens Water Security in Ladakh

European Union (EU) restores India on seafood export list to support $1.593 billion trade

Key Updates:

  • The European Union (EU) has included India in the revised draft list for the continued export of aquaculture products from September 2026.
  • The inclusion follows compliance with the European Commission Delegated Regulation (EU) 2023/905, which mandates that animal products be free from antimicrobial medicinal products used for growth promotion and those reserved for human treatment.
  • In 2025-26, the EU was the third-largest destination for Indian seafood exports, accounting for 18.94 per cent of the total export value at $1.593 billion.
  • Indian seafood exports to the EU in the previous fiscal recorded a value increase of 41.45 per cent and a shipment volume increase of 38.29 per cent, with farmed shrimp dominating the exports.
  • Regulatory compliance was strengthened by the Department of Commerce, Marine Products Export Development Authority (MPEDA), and Export Inspection Council (EIC) through the National Residue Control Programme, post-harvest testing protocols, and surveillance systems for banned antibiotics and pharmacologically active substances.

Related Current Affairs Coverage

National Maritime Day is observed in India on April 5 to commemorate the historic voyage of the country's first modern merchant ship. India possesses a coastline stretching over 7,500 kilometres and handles approximately…


TCRC and Afghan National Standards Authority (ANSA) sign $46.3 million modernisation deal

Key Updates:

  • India and Afghanistan have entered into a strategic partnership through a $46.3 million agreement for modernisation.
  • The five-year contract was signed between the Indian company TCRC and the Afghan National Standards Authority (ANSA).
  • The agreement involves establishing advanced laboratory complexes in Kabul to test construction materials, electrical equipment, and textiles.
  • The project includes the enhancement of nine border crossings in Afghanistan to improve regional trade dynamics and quality control.
  • The initiative aims to curb low-quality imports and includes a programme for training Afghan staff in modern testing techniques.

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Government of India records wholesale inflation at 8.3% for April

Key Updates:

  • India's wholesale inflation reached 8.3% in April, marking the fastest pace in three-and-a-half years.
  • Fuel and power inflation jumped to 24.71% in April from 1.05% in March, driven by a 67.18% rise in crude petroleum and natural gas inflation.
  • Manufactured products inflation accelerated to 4.62% in April from 3.39% in March, with basic metals inflation at 7% and chemicals at 5.09%.
  • The Wholesale Price Index (WPI) food index rose 2.31% year-on-year in April, while onion prices fell 26.45% and pulses inflation stood at -4.03%.
  • The Reserve Bank of India (RBI) projected Consumer Price Index (CPI) inflation at 4.6% for FY27, with a core inflation projection of 4.4%.

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Reserve Bank of India (RBI) removes approval requirement for banks' outward remittance tie-ups with fintechs

Key Updates:

  • The Reserve Bank of India (RBI) has allowed Authorised Dealer (AD) banks to facilitate outward remittance services through third-party online platforms without seeking prior approval from the central bank.
  • The revised framework applies to cross-border outward remittance of funds for non-trade current account transactions facilitated through websites, online platforms, software applications, and mobile applications.
  • The responsibility for regulatory compliance, Know Your Customer (KYC) checks, and Foreign Exchange Management Act (FEMA) adherence remains solely with the AD banks.
  • The RBI directed that remitter funds must not flow into the account of the third-party entity in India and banks must ringfence customer funds from insolvency risks.
  • Banks and their third-party partners must ensure customer data collection is consent-based and compliant with the Digital Personal Data Protection (DPDP) Act.

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CTBC Bank of Taiwan opens branch at GIFT City

Key Updates:

  • CTBC Bank of Taiwan (CTBC Bank) has opened a branch at GIFT City in Gujarat to support cross-border financing and enhance financial connectivity.
  • CTBC Bank is the first Taiwanese lender to establish a presence at GIFT City and the only Taiwanese bank with a branch presence in India.
  • The branch aims to serve clients in the Indian subcontinent and Taiwan by leveraging GIFT City's position as an international financial services hub.
  • Established in 1966, CTBC Bank has operated in India for 30 years through branches in New Delhi and Kattupakkam, Chennai.
  • The new branch will facilitate treasury solutions, trade, and investment flows between India, Taiwan, Asia, and global markets.

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Mahey Tokpo-Raldho Irrigation Canal Project Strengthens Water Security in Ladakh

Key Updates:

  • Ladakh Lieutenant Governor (L-G) Vinai Kumar Saxena inaugurated the 2.10 km Mahey Tokpo-Raldho irrigation canal at an altitude of over 14,000 feet in the Changthang region.
  • The canal draws water from Yaya Lake to provide a reliable irrigation facility for nearly 100 acres of agricultural land in the Mahey area.
  • The project was executed by the Irrigation and Flood Control Department using PCC lining and breast wall works to ensure durability 200 feet above the road in mountainous terrain.
  • Originally initiated in 2022-23, the project saw the completion of its final 850-metre stretch in two months following a review by the L-G on 13 March 2026.
  • A plantation drive of 15,000 trees was launched alongside the canal to support soil conservation, slope stabilisation, and ecological sustainability in the region.

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Special Intensive Revision (SIR) Phase III for Electoral Roll Update

Key Updates:

  • The Election Commission of India (ECI) has rolled out Phase III of the Special Intensive Revision (SIR) exercise across 16 states and three Union Territories to update and verify electoral rolls.
  • The exercise will be conducted nationwide except in Jammu and Kashmir, Ladakh, and Himachal Pradesh.
  • Approximately 3.94 lakh Booth Level Officers (BLOs) will perform door-to-door verification of around 36.73 crore registered voters, supported by 3.42 lakh Booth Level Agents (BLAs).
  • The SIR Phase III schedule is aligned with the Census house-listing exercise and aims to remove duplicate, shifted, and deceased voters.
  • Earlier phases of the revision process covered nearly 60 crore voters and were completed in Uttar Pradesh, West Bengal, Tamil Nadu, Rajasthan, Gujarat, Bihar, and Kerala.

Related Current Affairs Coverage

Election Commission of India (ECI) activated the Know Your Candidates (KYC) module on ECINet for 2026 Assembly elections. Voters can view criminal antecedents, assets, liabilities, education and verified social media…


Minimum Support Price (MSP) for 14 Kharif Crops (2026-27) Approved

Key Updates:

  • The Cabinet Committee on Economic Affairs (CCEA) approved an increase in the Minimum Support Prices (MSP) for 14 Kharif crops for the 2026-27 marketing season.
  • The highest absolute increase in MSP was announced for sunflower seed at ₹622 per quintal, followed by cotton at ₹557, nigerseed at ₹515, and sesamum at ₹500 per quintal.
  • The MSP for common paddy has been increased to ₹2,441 per quintal, Grade A paddy to ₹2,461, maize to ₹2,410, bajra to ₹2,900, and ragi to ₹5,205 per quintal.
  • For pulses, oilseeds, and cotton, the MSP for moong is ₹8,780, tur/arhar is ₹8,450, urad is ₹8,200, sesamum is ₹10,346, nigerseed is ₹10,052, sunflower seed is ₹8,343, groundnut is ₹7,517, soybean is ₹5,708, medium staple cotton is ₹8,267, and long staple cotton is ₹8,667 per quintal.
  • The Ministry of Agriculture and Farmers Welfare stated that the revised MSPs align with the Union Budget 2018-19 commitment of fixing rates at least 1.5 times the all-India weighted average cost of production.

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Maritime Amrit Kaal Vision 2047: India Signs MoU for First Mega Greenfield Shipyard in Tamil Nadu

Key Updates:

  • A tripartite Memorandum of Understanding (MoU) was signed on April 20 between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited (SMFCL) under the Ministry of Ports, Shipping and Waterways (MoPSW).
  • The agreement facilitates the development of India's first mega greenfield shipyard at Thoothukudi in Tamil Nadu, which is expected to have an annual shipbuilding capacity of 2.5 million Gross Tonnage (GT).
  • The project is launched under the India-Republic of Korea maritime cooperation framework VOYAGES (Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale) following talks between the two nations.
  • The initiative aligns with the Maritime Amrit Kaal Vision 2047, which aims to place India among the world's top five shipbuilding nations with a targeted annual output of 4.5 million GT by 2047.
  • The MoPSW noted that the project follows a comprehensive ₹70,000 crore shipbuilding policy package announced by the Centre in September 2025 to strengthen maritime manufacturing capabilities.

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IP Catalyst to transform Electronics and IT patents into global products

Key Updates:

  • The Ministry of Electronics and Information Technology (MeitY) launched the "IP Catalyst" initiative and digital platform on 12 May 2026 at the India Habitat Centre in New Delhi.
  • The initiative is implemented by the Centre for Development of Advanced Computing (CDAC) Pune with support from MeitY to connect publicly funded R&D institutions, startups, Micro, Small and Medium Enterprises (MSMEs), academia, industry partners, technology innovators, and investors.
  • A unified online gateway, cipie.in, has been launched to serve as a national repository of technologies and provide IP and commercialisation support services.
  • India filed 1,10,375 patent applications in FY 2024–25 and 1,43,729 in FY 2025–26, with the Electronics and IT sector accounting for 44% and 52% of filings respectively.
  • The initiative provides support services including financial support for IP filing for MeitY organisations and grantee institutions, international patent filing support for startups and MSMEs, prior-art search, IP advisory services, technology readiness and maturity assessment, IP valuation, technology transfer and licensing facilitation, industry–academia–startup collaboration, access to indigenous technologies, prototype-to-product development support, and market deployment assistance.
  • The programme aims to strengthen domestic capabilities in strategic technology areas including Semiconductors, Artificial Intelligence (AI), Electronics manufacturing, Strategic technologies, and Advanced digital systems.

Related Current Affairs Coverage

World Intellectual Property Day is observed annually on April 26. The event was established to increase general understanding of intellectual property rights, including patents, trademarks, industrial designs, and…


PM E-DRIVE Scheme: ₹123 Crore for EV Chargers in Karnataka

Key Updates:

  • The Union Government approved Karnataka's proposal for the installation of 1,243 electric vehicle (EV) chargers with an outlay of ₹123 crore under the PM E-DRIVE initiative.
  • The Ministry of Heavy Industries (MHI) is developing the 'Unified Bharat e-Charge' platform to enable EV users to discover charging stations, access multiple charging networks, and make payments through a single interface.
  • The PM E-DRIVE scheme has a total outlay of ₹10,900 crore, with ₹2,000 crore specifically earmarked for EV public charging infrastructure.
  • Proposals worth ₹503 crore for 4,874 EV chargers have been cleared for Central Public Sector Enterprises (CPSEs) including Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOCL), and Bharat Petroleum Corporation Limited (BPCL), and states including Rajasthan, Andhra Pradesh, Uttar Pradesh, Gujarat, Kerala, Telangana, Karnataka, and Tamil Nadu.
  • Other key initiatives include the Production Linked Incentive (PLI) Advanced Chemistry Cell (ACC) Scheme for battery manufacturing (₹18,100 crore), the PLI Auto Scheme for cleaner vehicles (₹25,938 crore), and the Rare Earth Permanent Magnet (REPM) Scheme for rare earth magnet manufacturing (₹7,280 crore).

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Mizoram Ginger Mission: ₹189.79-crore Outlay for Global Exports

Key Updates:

  • The Union Minister for Development of North Eastern Region (MDoNER) launched the Mizoram Ginger Mission with a total outlay of ₹189.79 crore.
  • The mission aims to transform the state's GI-certified pharma-grade ginger into a premium global product through value addition, processing, and export-led market integration.
  • The initiative is supported by the Ministry of Agriculture, Ministry of Rural Development, Ministry of Food Processing Industries, National Bank for Agriculture and Rural Development (NABARD), Indian Council of Agricultural Research (ICAR), and Agricultural and Processed Food Products Export Development Authority (APEDA).
  • The programme targets nearly 20,000 farming households and is based on four pillars: convergence, value addition, branding, and market integration.
  • The project will establish one integrated processing hub, three spoke centres, and more than 30 strategic interventions to reduce post-harvest losses.
  • The initiative is linked to the Brand North East vision, which includes products such as Sikkim’s organic produce, Arunachal Pradesh kiwi, Tripura’s Queen Pineapple, Nagaland coffee, and Meghalaya’s Lakadong turmeric.

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IndiaAI Mission signs MoU with Karya to build inclusive AI ecosystem

Key Updates:

  • The IndiaAI Mission, under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) with nonprofit organisation Karya.
  • The partnership aims to strengthen India’s inclusive artificial intelligence (AI) ecosystem through collaboration in data, technology, and capacity building.
  • The collaboration focuses on developing, curating, and sharing high-quality language and multimodal datasets to build inclusive and representative AI systems.
  • Both organisations will work on strengthening AIKosh data infrastructure, model evaluation frameworks, and standards for dataset quality, validation, and interoperability.
  • The partnership will support capacity building through training programmes, workshops, technical consultations, and knowledge-sharing initiatives across government bodies and partner institutions.

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IEPFA and Prasar Bharati MoU for investor awareness campaign

Key Updates:

  • The Investor Education and Protection Fund Authority (IEPFA), functioning under the Ministry of Corporate Affairs (MCA), signed a Memorandum of Understanding (MoU) with Prasar Bharati.
  • The partnership aims to strengthen investor awareness initiatives through informative scroll messages on Doordarshan’s national and regional channels.
  • The campaign will disseminate information on investor protection, safe investing practices, and reclaiming unclaimed dividends and shares transferred to the IEPFA.
  • The initiative encourages investors to utilise the Search Facility and submit claims through Form IEPF-5.
  • The agreement was signed by Lt. Col. Aditya Sinha, General Manager of IEPFA, and Sanjay Prasad, Deputy Director General of Prasar Bharati (Sales).

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India-based Flying Wedge Defence & Aerospace to manufacture Kaal Bhairava combat aircraft in Portugal

Key Updates:

  • Flying Wedge Defence & Aerospace (FWDA), an Indian artificial intelligence warfare company, announced the establishment of its first international manufacturing node in Portugal for the Kaal Bhairava autonomous combat aircraft.
  • The facility is being set up in partnership with SKETCHPIXEL LDA, a European technology firm known for developing advanced fighter jet simulation systems for aircraft including the F-16.
  • The Portugal facility serves as the first international node under Operation 777, a strategic initiative aimed at establishing manufacturing and deployment partnerships across seven continents and 77 countries.
  • Kaal Bhairava is a Medium Altitude Long Endurance (MALE) autonomous combat aircraft featuring a range of 3,000 km, endurance exceeding 30 hours, and AI-driven target recognition.
  • Under the agreement, FWDA will retain intellectual property rights over the aircraft core autonomous systems and airframe design while SKETCHPIXEL LDA provides simulation technologies and AI integration.

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India assumes chairmanship of Common Criteria Development Board from April 2026 to April 2028

Key Updates:

  • India has been nominated as the Chair of the Common Criteria Development Board (CCDB) for the period from April 2026 to April 2028.
  • The leadership position was confirmed during the first quarter meeting of the Common Criteria Recognition Arrangement (CCRA) held in Tokyo, Japan, from April 14 to 16, 2026.
  • The CCRA enables mutual recognition of IT security certificates, while the CCDB manages the international work programme for the Common Criteria (CC) and the Common Methodology for Information Technology Security Evaluation (CEM).
  • India has been a Certificate Authorising Nation of the CCRA since September 16, 2013, participating through the Ministry of Electronics and Information Technology and the STQC Directorate.
  • The CCRA currently comprises 20 certificate-authorising nations and 18 certificate-consuming nations that collectively maintain the Common Criteria Portal.

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India's first privately built military aircraft C-295 set for rollout in Gujarat on 14 May 2026

Key Updates:

  • Tata-Airbus has advanced the first Made-in-India C-295 military transport aircraft at Vadodara, Gujarat.
  • The C-295 is the first military aircraft in India to be built privately.
  • The aircraft is part of a ₹21,935-crore programme to replace the ageing Avro fleet of the Indian Air Force (IAF).
  • The project aims to expand domestic aerospace production and increase the participation of Micro, Small and Medium Enterprises (MSMEs).
  • The programme supports the Make in India initiative to enhance strategic self-reliance in military aviation.

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United States, China, Russia, and India invest in hypersonic and ballistic missile technologies

Key Updates:

  • Ballistic missiles follow a predetermined trajectory and are primarily controlled by gravity after reaching high altitudes.
  • Hypersonic missiles travel at speeds exceeding Mach 5 and possess the capability to manoeuvre during flight.
  • Ballistic missiles are typically launched from land or sea platforms and travel in a high arc.
  • Hypersonic missiles fly at lower altitudes compared to ballistic missiles, increasing their ability to evade detection.
  • The United States, China, Russia, and India are heavily investing in hypersonic missile technology to enhance military capabilities and strategic positioning.

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India plans ₹40,000 crore Middle East-India Deep-water Pipeline (MEIDP) from Oman

Key Updates:

  • India is planning the Middle East-India Deep-water Pipeline (MEIDP) to connect Oman directly to the Gujarat coast.
  • The MEIDP will stretch 2,000 km under the Arabian Sea at depths of up to 3,450 metres and deliver approximately 31 million standard cubic metres per day (mmscmd) of natural gas.
  • The project has an estimated cost of ₹40,000 crore ($4.7-4.8 billion) and is expected to take five to seven years to build.
  • The Ministry of Petroleum will direct Gas Authority of India Limited (GAIL), Engineers India Limited, and Indian Oil Corporation (IOC) to prepare a detailed feasibility report based on a study by the South Asia Gas Enterprise (SAGE).
  • The pipeline route will allow India to access gas from Oman, United Arab Emirates (UAE), Saudi Arabia, Iran, Turkmenistan, and Qatar.

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Global Nations Develop 6th and 7th Generation Fighter Aircraft

Key Updates:

  • India is developing the Advanced Medium Combat Aircraft (AMCA) stealth fighter and expanding indigenous drone warfare capabilities.
  • Major 6th-generation projects include the F-47 and Next Generation Air Dominance (NGAD) in the United States, Tempest (United Kingdom, Italy, Japan), and Future Combat Air System (FCAS) (France, Germany, Spain).
  • Key features of 6th-generation fighters include advanced stealth, Artificial Intelligence (AI) assisted combat systems, drone wingman integration, and directed-energy weapons.
  • Theoretical 7th-generation fighters, expected after 2040, may feature fully autonomous AI, quantum radar, and hypersonic speeds beyond Mach 6.
  • Other global developments include China's focus on stealth and autonomous drone warfare, and Russia's investment in hypersonic missile integration.

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Union Environment Minister inaugurates Lion Species Spotlight Programme at Gir National Park

Key Updates:

  • Union Environment Minister Bhupender Yadav inaugurated the Lion Species Spotlight Programme at Gir National Park in Gujarat as a pre-summit event for the International Big Cat Alliance (IBCA) Summit 2026.
  • India is scheduled to host the first-ever IBCA Summit in New Delhi on June 1 and 2, 2026, under the theme Save Big Cats, Save Humanity, Save Ecosystem.
  • The IBCA serves as a global coalition for the conservation of seven iconic big cat species: lion, tiger, leopard, snow leopard, cheetah, jaguar, and puma.
  • The Asiatic lion population in the Greater Gir Landscape has reached an estimated 891 individuals in 2025, representing a 32 per cent increase compared to 2020.
  • Asiatic lions receive the highest legal protection under Appendix-I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and Schedule-I of the Wildlife (Protection) Act, 1972.

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Zoological Survey of India (ZSI) discovers two new spider species in northeast India

Key Updates:

  • The Zoological Survey of India (ZSI) discovered two new spider species in northeast India.
  • ZSI carried out a comprehensive taxonomic revision of Indian whip scorpions.
  • The taxonomic revision of Indian whip scorpions is the first of its kind in over a century.
  • The research findings were published in the international journal Zootaxa.
  • The study highlights northeast India as a hotspot for rare and lesser-known species.

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Indian passport ranks 78th in Henley Passport Index (May 2026)

Key Updates:

  • India’s passport has secured the 78th position in the latest Henley Passport Index released in May 2026, marking a drop of three positions from its 75th rank in February 2026.
  • Indian passport holders currently have access to 56 destinations, including visa-free entry to Bhutan, Nepal, Fiji, and Malaysia, and visa-on-arrival facilities in Maldives, Indonesia, Sri Lanka, and Cambodia.
  • Singapore holds the world’s most powerful passport with visa-free access to 192 destinations, followed closely by Japan and South Korea as of May 2026.
  • The Henley Passport Index is published by the consultancy firm Henley & Partners and uses data from the International Air Transport Association (IATA) to assess 199 passports worldwide.
  • India recorded its best passport ranking of 71 in 2006 and its lowest ranking of 90 in 2021, while passports from Pakistan, Iraq, Syria, and Afghanistan remain among the weakest globally.

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Book 'Apnapan' to be released on May 26

Key Updates:

  • Union Minister Shivraj Singh Chouhan announced the release of his new book titled Apnapan.
  • The book chronicles the 35-year-long association and experiences of Shivraj Singh Chouhan with Prime Minister Narendra Modi.
  • Apnapan is scheduled to be formally launched on May 26 at the NASC Complex in Pusa, New Delhi.
  • The launch will occur in the presence of former Vice President M. Venkaiah Naidu and former Prime Minister H. D. Deve Gowda.
  • The association between the author and the Prime Minister began during the 1991 Ekta Yatra.

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Sahdev Yadav Elected President of South Asian Weightlifting Federation (SAWF)

Key Updates:

  • Sahdev Yadav was elected unanimously as the president of the South Asian Weightlifting Federation (SAWF) during a meeting held in Ahmedabad, Gujarat, on May 12.
  • Yadav currently serves as the president of the Indian Weightlifting Federation.
  • Yadav holds additional positions as the treasurer of the Indian Olympic Association (IOA), vice-president of the Commonwealth Weightlifting Federation, and assistant to the president of the Asian Weightlifting Federation.
  • Sabina Yadav, the joint secretary of the Indian Weightlifting Federation and member of the Innovation Committee of the International Weightlifting Federation, was appointed as the chief executive officer of the SAWF.
  • The newly elected office-bearers of the SAWF include general secretary Ram Krishna Sreshtha, vice-presidents Ibrahim Hameed and Sanka Ratnayake, and executive board member Shahria Sultana.

Related Current Affairs Coverage

India concluded its campaign at the Asian Wrestling Championships in Bishkek, Kyrgyzstan, with a total of 17 medals. The final medal tally for India consisted of two gold, seven silver, and eight bronze medals.


Akash Ambani Appointed Managing Director of Jio Platforms

Key Updates:

  • Akash Ambani has been appointed as the managing director of Jio Platforms.
  • The appointment is for a period of 5 years with effect from April 9, 2026.
  • Jio Platforms is expected to file draft papers for its Initial Public Offering (IPO) by the end of May or in June.
  • Ambani has been on the board of Reliance Jio Infocomm (RJIL) since October 2014.
  • Ambani was elevated to the position of Chairman of RJIL in June 2022.

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