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Friday, May 22

Daily Current Affairs: 22 May 2026

Analysis for 22 May 2026

Reserve Bank of India (RBI) cancels licence of The Yashwant Co-operative Bank Ltd., Phaltan

Key Updates:

  • The Reserve Bank of India (RBI) cancelled the licence of The Yashwant Co-operative Bank Ltd., Phaltan, in an order dated May 18, 2026.
  • The RBI took this action due to the bank's inadequate capital, poor earning prospects, and failure to comply with regulatory requirements.
  • The Maharashtra Commissioner for Cooperation and Registrar of Cooperative Societies has been directed to wind up the bank and appoint a liquidator.
  • Depositors are protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC), which provides insurance cover up to ₹5 lakh per depositor.
  • As of April 20, 2026, the DICGC has paid ₹106.96 crore of the total insured deposits, with 99.02% of depositors entitled to receive their full deposit amount.

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Reserve Bank of India (RBI) Cancels Licence of Sarvodaya Co-operative Bank Ltd., Mumbai (Mid of May) ▼
  • The Reserve Bank of India (RBI) cancelled the licence of Sarvodaya Co-operative Bank Ltd., Mumbai, effective from the close of business on May 12, 2026.
  • The RBI stated that the bank lacks adequate capital and earning prospects, making its continuance prejudicial to the interests of its depositors.
  • The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, has been requested to issue a winding-up order and appoint a liquidator for the bank.
  • Depositors are entitled to receive insurance claims up to a monetary ceiling of ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • Approximately 98.36 per cent of depositors are entitled to full deposit recovery, with the DICGC having already paid ₹26.72 crore as of March 31, 2026.
Reserve Bank of India (RBI) cancels licence of Sarvodaya Co-operative Bank (Mid of May) ▼
  • The Reserve Bank of India (RBI) has cancelled the licence of the Mumbai-based Sarvodaya Co-operative Bank due to inadequate capital and earning prospects.
  • The bank will cease banking business with effect from the close of business on May 12, 2026.
  • The RBI has directed the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, to order the winding up of the bank and appoint a liquidator.
  • Depositors are entitled to receive insurance claims up to ₹5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • As of March 31, 2026, the DICGC has already paid ₹26.72 crore of the total insured deposits.
Reserve Bank of India (RBI) imposes restrictions on Nagar Sahakari Bank Ltd and penalty on Aurangabad District Central Co-operative Bank Limited (End of May) ▼
  • The Reserve Bank of India (RBI) issued directions to the Etawah-based Nagar Sahakari Bank Ltd restricting it from granting or renewing loans, making investments, or accepting fresh deposits without prior written approval.
  • Depositors of Nagar Sahakari Bank Ltd are permitted to withdraw a maximum sum of ₹10,000 from savings, current, or other accounts.
  • Eligible depositors of Nagar Sahakari Bank Ltd can receive insurance claims up to ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC) under the DICGC Act, 1961.
  • The restrictions on Nagar Sahakari Bank Ltd are effective for six months from the close of business on May 18.
  • The RBI imposed a monetary penalty of ₹20,000 on the Aurangabad District Central Co-operative Bank Limited, Bihar, for non-compliance with directions on Credit Information Reporting.
Reserve Bank of India (RBI) cancels licence of Paytm Payments Bank (End of April) ▼
  • The Reserve Bank of India (RBI) cancelled the banking licence of Paytm Payments Bank on April 24, 2026, under Section 22(4) of the Banking Regulation Act, 1949.
  • The RBI cited that the bank's business was conducted in a manner harmful to depositors' interest and failed to comply with the conditions stipulated in its licence.
  • Paytm Payments Bank received a limited banking licence in 2015 and commenced operations in May 2017.
  • In March 2022, the RBI directed the bank to stop onboarding new customers.
  • The RBI barred the bank from accepting fresh deposits and credits after March 15, 2024, except for interest, refunds, cashbacks, and sweep-ins.
  • As of March 2025, the bank recorded total deposits of ₹13.95 billion and a loss of ₹946.4 million.
  • The RBI announced it would approach the High Court for the winding up of the bank.
  • The parent company of the bank is One 97 Communications.

Liberty Mutual Insurance increases stake in Liberty General Insurance Limited (LGI) to 74%

Key Updates:

  • US-based Liberty Mutual Insurance has increased its shareholding in Liberty General Insurance Limited (LGI) to 74%.
  • The stake was previously increased from 49% to 55.40% in September 2025.
  • The investment aims to expand the distribution footprint and strengthen operations in India's retail and commercial insurance segments.
  • Parag Ved serves as the Chief Executive Officer and Whole-Time Director of LGI.
  • The government allowed up to 100 per cent Foreign Direct Investment (FDI) in the insurance sector in December last year.

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Prudential plc to Acquire 75% Stake in Bharti Life Insurance Company Limited for ₹3,500 Crore (Mid of May) ▼
  • UK-based insurer Prudential plc will acquire a 75 percent stake in Bharti Life Insurance Company Limited for an initial value of ₹3,500 crore (approximately USD 389 million).
  • The transaction involves Prudential plc acquiring the controlling stake from Bharti Life Ventures Pvt Ltd and funds managed by 360 ONE Asset Management.
  • This strategic investment provides Prudential plc with majority ownership and operational control of the life insurance business in the Indian market.
  • Bharti Life Insurance Company Limited operates through various channels including proprietary sales, direct distribution, bancassurance partnerships, brokers, corporate agents, and group business operations.
  • The deal may lead to future strategic distribution partnerships with Bharti Airtel and 360 ONE Asset Management to expand market reach and customer access.
Ministry of Finance launches MyLIC and Super Sales Saathi apps of Life Insurance Corporation of India (LIC) (Mid of April) ▼
  • The Ministry of Finance launched two digital platforms of Life Insurance Corporation of India (LIC) on April 15, 2026.
  • The MyLIC app is a customer-focused platform that allows policyholders to manage insurance portfolios, pay premiums instantly, track policy benefits in real time, and avail paperless policy loans.
  • MyLIC enables customers to update policies, revive lapsed policies, and purchase policies online through a paperless e-KYC process.
  • The Super Sales Saathi app is designed for LIC sales intermediaries and field staff to provide digital tools for marketing insights, performance tracking, customer management, and policy servicing.
  • Super Sales Saathi includes features such as real-time policy status tracking, automated follow-up reminders, integrated customer communication, AI-driven nudges, digital sales kits, and performance dashboards.
Competition Commission of India (CCI) approves Central Bank of India’s acquisition of additional stake in GCICL and GCLICL (Start of March) ▼
  • Competition Commission of India (CCI) approved Central Bank of India’s acquisition of 1.09% additional equity in Generali Central Insurance Company (GCICL) and 0.82% additional equity in Generali Central Life Insurance Company (GCLICL) on 03 March 2026.
  • Post-acquisition, Central Bank of India’s shareholding in GCICL will rise from 24.91% to 26%.
  • Post-acquisition, Central Bank of India’s shareholding in GCLICL will rise from 25.18% to 26%.
Government of India allows 100% foreign direct investment (FDI) in insurance companies via automatic route (Start of May) ▼
  • The Government of India has allowed 100% foreign direct investment (FDI) in insurance companies through the automatic route.
  • The Department for Promotion of Industry and Internal Trade (DPIIT), in Press Note 1 (2026 Series), clarified that foreign investment is permitted automatically subject to regulatory clearance by the Insurance Regulatory and Development Authority of India (IRDAI).
  • Foreign investment in Life Insurance Corporation of India (LIC) remains capped at 20% under the automatic route, keeping it under a separate framework.
  • Insurance companies with foreign investment must appoint at least one resident Indian citizen as chairperson, managing director, or chief executive officer to ensure domestic control.
  • The 100% FDI limit also extends to insurance intermediaries such as brokers, reinsurance brokers, corporate agents, third-party administrators, surveyors, loss assessors, managing general agents, and insurance repositories, subject to IRDAI norms.

Maharashtra Leads India in Central Government Infrastructure Projects with 215 Initiatives

Key Updates:

  • Maharashtra has secured the top position in India with 215 central government projects involving an estimated investment of ₹5.5 trillion.
  • Uttar Pradesh ranks second in the country with 180 central government projects valued at approximately ₹4.3 trillion.
  • Andhra Pradesh holds the third position with 141 central government projects worth ₹2.1 trillion, focusing on ports, logistics, and renewable energy.
  • Assam leads the northeastern states with 89 central government projects worth ₹1.2 trillion to enhance regional connectivity and energy infrastructure.
  • The infrastructure drive includes diverse sectors such as highways, railways, ports, industrial corridors, and the Smart Cities Mission.

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Maharashtra posts 43% GSDP growth 2021-22 to 2024-25, slowest among top four state economies. (Start of March) ▼
  • Maharashtra’s GSDP projected at Rs 42,67,771 crore in 2024-25, highest among all states.
  • Maharashtra’s GSDP rose 43% from Rs 29,81,024 crore in 2021-22 to Rs 42,67,771 crore in 2024-25.
  • Karnataka recorded fastest growth among top four, GSDP up 65% from Rs 17,02,227 crore in 2021-22 to Rs 28,09,063 crore in 2024-25.
  • Gujarat’s GSDP grew 48% from Rs 18,79,826 crore in 2021-22 to Rs 27,90,000 crore in 2024-25.
  • Tamil Nadu’s GSDP increased 47% from Rs 21,36,351 crore in 2021-22 to Rs 31,55,096 crore in 2024-25.
  • Maharashtra’s 2024-25 GSDP exceeds Tamil Nadu by over Rs 11 lakh crore, Gujarat by over Rs 14 lakh crore, Karnataka by over Rs 15 lakh crore.
Vingroup signs pact to invest $6.5 billion in Maharashtra (Mid of April) ▼
  • Vingroup entered into an agreement with the Maharashtra government to explore investments worth about $6.5 billion across multiple sectors in the state.
  • The proposed investments include integrated urban townships, electric mobility solutions, renewable energy, and social and public infrastructure.
  • Vingroup will explore integrated urban townships spanning approximately 1,000 hectares with residential, commercial, education, healthcare and amenity components.
  • The urban development component is estimated at around $5 billion targeting new growth centres near Mumbai, including the emerging zone Mumbai 3.0.
  • Through GSM India, Vingroup proposes to deploy a large‑scale electric taxi fleet of about 60,000 electric vehicles, with an estimated investment of approximately $1.5 billion, creating tens of thousands of jobs over three to five years.
  • Via VinEnergo, Vingroup will explore large‑scale renewable energy investments aligned with India’s energy transition roadmap and net‑zero emissions targets.
  • Group firms Vinschool, Vinmec and Vinpearl will explore development of social and public infrastructure projects in education, healthcare, public electric bus transportation and tourism services.
  • Maharashtra Chief Minister Devendra Fadnavis stated that the investments will significantly enhance urban infrastructure, boost sustainable mobility and create large‑scale employment opportunities.
  • The Maharashtra government and Mumbai Metropolitan Region Development Authority (MMRDA) will support Vingroup in land identification, project planning, facilitation of statutory approvals, provision of connectivity infrastructure and consideration of applicable incentives.
Moving Towards Effective City Government Roadmap: Urban Governance Reforms (End of April) ▼
  • The National Institution for Transforming India (NITI Aayog) released a roadmap titled “Moving Towards Effective City Government” to strengthen city governments in India’s million-plus cities.
  • The report was unveiled by the Union Minister of Housing and Urban Affairs, Manohar Lal Khattar.
  • The roadmap proposes the introduction of directly elected mayors with fixed terms to increase accountability to the public.
  • It recommends integrating essential services, including water, sanitation, and public transport, under a single accountable city authority to reduce delays.
  • The report suggests strengthening municipal finances through increased local revenue generation, timely transfers from states, and access to municipal bonds.
  • According to Real Estate Regulatory Authority (RERA) data, India has over 1.12 crore registered housing units with approximately 1.91 lakh complaints filed by buyers.
  • In Maharashtra, over 54,000 projects are registered, covering nearly 48 lakh housing units.
  • The report states that improving urban governance is essential for India to achieve its goal of becoming a $30 trillion economy by 2047.
Maharashtra Day observed on May 1 (Start of May) ▼
  • 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.

ShramMitra App to digitise Haryana's labour market

Key Updates:

  • Haryana Labour Minister Anil Vij announced the launch of the 'ShramMitra' app to digitise and modernise the labour market.
  • The app is designed to transform the traditional labour chowk into a digital platform.
  • ShramMitra connects workers directly with employers to eliminate the need for middlemen.
  • The platform provides workers with information on government schemes and skill development opportunities.
  • The app offers employers a database of verified candidates to enhance transparency and efficiency in job matching.

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Samarth Panchayat Portal Expanded to Boost Rural Financial Autonomy (Start of May) ▼
  • The Ministry of Panchayati Raj (MoPR) is expanding the Samarth Panchayat portal to Assam, Uttar Pradesh, and Maharashtra to digitise revenue collection and asset management.
  • The portal enables village panchayats to generate and collect tax and non-tax payments, maintain records, and track revenue to enhance financial self-reliance.
  • Successful pilot projects for the online platform have already been implemented in Chhattisgarh and Himachal Pradesh.
  • According to MoPR data, 25 states and Union Territories (UTs) have implemented Own Source of Revenue (OSR) regulations, specifically Andhra Pradesh, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Maharashtra, and Tamil Nadu.
  • India currently has a total of 266,999 panchayats, including 57,678 in Uttar Pradesh, 27,894 in Maharashtra, and 2,192 in Assam.
Kartavya-KAAMS Launched for AI-Enabled Attendance of Karnataka School Staff (Mid of May) ▼
  • The Department of School Education and Literacy (DSEL) of Karnataka launched the Karnataka Advanced Attendance Management System (Kartavya-KAAMS).
  • The Kartavya-KAAMS is an Artificial Intelligence (AI) and Geographic Information System (GIS) enabled facial recognition mobile application.
  • It is mandatory for permanent teaching and non-teaching staff to register attendance twice a day via the app starting from the academic year 2026-27.
  • Employees must register using their Karnataka Government Insurance Department (KGID) number registered in the Human Resource Management System (HRMS).
  • The app will monitor attendance at schools, training programmes at State, District, and Block levels, and Secondary School Leaving Certificate (SSLC) evaluation centres.
Maharashtra launches Divyang Sahayak Portal for paperless disability scheme access (Start of March) ▼
  • Maharashtra government launched the country’s first integrated Divyang Sahayak Portal to streamline welfare schemes for persons with disabilities.
  • The portal enables online applications, real-time tracking and automatic approvals without physical documents.
  • It integrates with Unique Disability ID, Aadhaar through Meri Pehchan and Direct Benefit Transfer platform; integration with PAN, TAN, GST, bank details, e-Sign, UDISE and RBSK is underway.
  • Artificial intelligence tools scan uploaded documents for clarity and allocate grievances to the appropriate desk.
  • The portal is structured into 11 modules; the first four—unified scheme delivery, institution information management, citizen grievance redressal and department dashboard—are ready to go live.
  • A mobile application has been created and submitted to the Government of India for listing on its app store.
Swasth Bharat Portal: Integration of Digital Health Systems (Start of May) ▼
  • The Union Minister for Health and Family Welfare, Jagat Prakash Nadda, launched the Swasth Bharat Portal on May 7, 2026, during the 10th National Summit on "Innovation and Inclusivity: Best Practices Shaping India's Health Future".
  • The portal was developed by the Ministry of Health and Family Welfare (MoHFW) to integrate multiple digital applications used in national health programmes for service delivery, monitoring, and reporting.
  • It functions as an aggregator platform using an API-based federated architecture to create a unified digital layer and ensure interoperability across programmes.
  • The portal aims to reduce the administrative burden on frontline health workers, including Accredited Social Health Activists (ASHAs), Auxiliary Nurse Midwives (ANMs), Community Health Officers (CHOs), and Medical Officers (MOs).
  • The portal is Ayushman Bharat Digital Mission (ABDM) compliant and supports integration with the Ayushman Bharat Health Account (ABHA), Healthcare Professionals Registry (HPR), and Health Facility Registry (HFR).

Mission Arunachal Kiwi launched to empower farmers and build globally competitive organic kiwi ecosystem

Key Updates:

  • Mission Arunachal Kiwi was launched by Arunachal Pradesh Deputy Chief Minister Chowna Mein under the leadership of Prime Minister Narendra Modi and guidance of Union Minister Jyotiraditya Scindia.
  • The mission aims to empower farmers and build a globally competitive organic kiwi ecosystem in Arunachal Pradesh.
  • It focuses on strengthening the entire kiwi value chain including cultivation, post-harvest management, branding, exports, and agri-tourism.
  • Arunachal Pradesh contributes more than 50% of India's kiwi production, and the mission targets key districts: Lower Subansiri, West Kameng, Shi Yomi, Dibang Valley, and Tawang.
  • The mission was officially launched in New Delhi by Union Minister Jyotiraditya Scindia during a programme organised by the Ministry of Development of North Eastern Region (DoNER) in collaboration with the Arunachal Pradesh government.

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Mizoram Ginger Mission: ₹189.79-crore Outlay for Global Exports (Mid of May) ▼
  • 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.
Department for Promotion of Industry and Internal Trade (DPIIT) releases LEADS 2025 report and LEAPS 2025 awards (Mid of May) ▼
  • The Department for Promotion of Industry and Internal Trade (DPIIT) organised the Logistics Excellence, Advancement and Performance Shield (LEAPS) 2025 Awards and released the LEADS 2025 report in New Delhi.
  • India's Free Trade Agreements (FTAs) cover 38 developed economies across nine FTAs, with four operational and five expected within the next 12 months.
  • India is conducting negotiations to widen market access with the GCC, Canada, Mexico, Chile, SACU, and Mercosur.
  • India achieved record exports of USD 863 billion in 2025-26 and has set a target of USD 1 trillion for the current year.
  • Under the LEADS 2025 report's revised four-tier classification, Tamil Nadu, Uttar Pradesh, Mizoram, and Delhi were placed as Exemplars.
  • The LEAPS Awards winners include FedEx, MSC, Safexpress, DP World Rail Logistics, Delhivery, and IIM Mumbai.
Coffees of Nagaland Mission: ₹175 Crore Outlay (Mid of May) ▼
  • Union Minister Jyotiraditya M. Scindia launched the ₹175-crore "Coffees of Nagaland" mission to transform Nagaland into a premium specialty coffee destination.
  • The initiative is led by the Ministry of Development of North-Eastern Region (MDoNER) and adopts a cluster-based Coffee Value Chain Development approach.
  • Two pilot coffee clusters have been identified: Tuophema village in Kohima district for Arabica coffee and Ghotovi village in Niuland district for Robusta coffee.
  • The mission integrates plantation development, post-harvest processing, branding, exports, tourism, and capacity building to build a globally competitive coffee ecosystem.
  • The initiative envisions creating "Brand North East – Coffees of Nagaland" by incorporating organic certification, GI tagging, digital traceability, and coffee farm stays.
Mission Sikkim Organics Launched with ₹360 Crore Outlay (Mid of May) ▼
  • Union Minister for Communications and Development of North Eastern Region (MDoNER) Jyotiraditya M. Scindia launched Mission Sikkim Organics with a total programme outlay of ₹360 crore during the 51st Statehood Day of Sikkim.
  • The mission aims to benefit over 66,000 farmer families by transforming the state into a globally integrated premium organic economy with a focus on value chains for large cardamom and ginger.
  • MDoNER will contribute ₹85 crore towards core infrastructure and aggregation systems in partnership with the Agricultural and Processed Food Products Export Development Authority (APEDA) and National Bank for Agriculture and Rural Development (NABARD).
  • Vice President C.P. Radhakrishnan and Union Minister Scindia inaugurated 21 development projects worth ₹223 crore, including road connectivity works under the North East Special Infrastructure Development Scheme (NESIDS).
  • Specific projects include the Namthang Bazar water supply, a Bamboo Industrial Park, the Rimbi Khola–Yuksam road, academic blocks at Burtuk and Kamrang colleges, and the remodeling of Burtuk Heliport.

India hosts 68th Asian Productivity Organization Governing Body meeting in New Delhi from 20 to 22 May 2026

Key Updates:

  • India is hosting the 68th Governing Body meeting of the Asian Productivity Organization (APO) from 20 to 22 May 2026 at Bharat Mandapam, New Delhi.
  • The meeting involves more than 60 senior delegates representing 20 APO member economies and is attended by Union Commerce and Industry Minister Piyush Goyal.
  • Key discussions focus on the APO Vision 2030 framework, budget proposals for 2027–28, and reforms linked to the election process for the organisation's secretary-general.
  • Observers from Kazakhstan, Uzbekistan, Bhutan, and the Global Green Growth Institute (GGGI) are participating in the session.
  • Established in 1961, the APO is an intergovernmental organisation comprising 21 member economies in the Asia-Pacific region.

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India hosts first-ever International Ophthalmology Research Summit in New Delhi on 9 May 2026 (Start of May) ▼
  • The Armed Forces hosted the first-ever International Ophthalmology Research Summit.
  • The conference is designated as AIOS-AFOU 2026.
  • Raksha Rajya Mantri Sanjay Seth inaugurated the landmark conference.
  • The event was conducted in New Delhi.
  • The summit took place on Saturday, 9 May 2026.
India to attend Shanghai Cooperation Organisation (SCO) Defence Ministers’ Meeting in Bishkek on April 28 (End of April) ▼
  • Defence Minister Rajnath Singh will lead the Indian delegation to the Shanghai Cooperation Organisation (SCO) Defence Ministers’ Meeting in Bishkek on April 28.
  • The meeting will focus on regional and global security issues, including international peace, counter-terrorism, and defence cooperation.
  • The SCO was established in 2001 in Shanghai.
  • The members of the SCO include India, Russia, China, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Uzbekistan, Iran, and Belarus.
  • India became a full member of the SCO in 2017.
  • India held the rotating chairmanship of the SCO in 2023.
India to attend Shanghai Cooperation Organisation Defence Ministers' meeting in Bishkek on April 27-28, 2026 (End of April) ▼
  • Defence Minister Rajnath Singh will lead the Indian delegation at the Defence Ministers' meeting of the Shanghai Cooperation Organisation (SCO).
  • The high-level meeting is scheduled to be held in Bishkek on April 27–28, 2026.
  • The agenda for the meeting includes discussions on terrorism, extremism, and regional security concerns.
India hosts BRICS Foreign Ministers' Meeting in New Delhi on 14-15 May 2026 (Mid of May) ▼
  • The BRICS Foreign Ministers' Meeting is scheduled for 14th and 15th May 2026 in New Delhi.
  • The meeting is held under India's 2026 chairship and is chaired by External Affairs Minister (EAM) S. Jaishankar.
  • The theme for India's BRICS 2026 chairship is Building for Resilience, Innovation, Cooperation and Sustainability.
  • The theme reflects a Humanity First and people-centric approach emphasised by Prime Minister Narendra Modi during the 2025 BRICS Summit in Rio de Janeiro.
  • This is the fourth occasion on which India is hosting a BRICS summit-level engagement.

India assumes Chair of Regional Cooperative Agreement (RCA) for 2026

Key Updates:

  • The 48th Meeting of National Representatives (NRM) of the Regional Cooperative Agreement (RCA) was hosted by the Department of Atomic Energy (DAE) from 19–22 May 2026 in Navi Mumbai, Maharashtra.
  • India formally assumed the Chair of the RCA for the year 2026.
  • The RCA is an intergovernmental framework established under the International Atomic Energy Agency (IAEA) that came into force in 1972 and currently comprises 22 Government Parties from the Asia-Pacific region.
  • India is a founding member of the RCA, with the agreement's origins tracing back to an IAEA conference held at the Bhabha Atomic Research Centre (BARC) in Mumbai in 1964.
  • The NRM deliberated on collaborative programmes in healthcare, nuclear agriculture and food technology, water resource management, radiation technologies, environmental sustainability, and capacity building.

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R Mukundan elected President of Confederation of Indian Industry (CII) (Mid of May) ▼
  • R Mukundan, Managing Director and CEO of Tata Chemicals, was elected President of the Confederation of Indian Industry (CII) for 2026-27.
  • Mukundan succeeds Rajiv Memani as the President of CII.
  • Suchitra K Ella, Co-Founder and Managing Director of Bharat Biotech, was appointed President-Designate of CII for 2026-27.
  • Shashwat Goenka, Vice-Chairman of RP-Sanjiv Goenka Group, was named Vice President of CII.
  • Suchitra K Ella was awarded the Padma Bhushan in 2022.
India assumes chairmanship of Common Criteria Development Board from April 2026 to April 2028 (Mid of May) ▼
  • 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.
India hosts BRICS Foreign Ministers' Meeting in New Delhi in May 2026 (Mid of May) ▼
  • India assumed the BRICS Chairmanship on January 1, 2026, and hosted the BRICS Foreign Ministers' Meeting in New Delhi.
  • India's trade with BRICS nations surged to $416 billion.
  • India advocated for the reform of the United Nations (UN), specifically calling for an expanded Security Council.
  • Dr. Bhaskar Jyoti Sonowal from Assam was elected president of the BRICS Entrepreneurs Alliance (BEA) Global Forum for the 2026-27 term.
  • India is scheduled to host the BEA Global Summit in November 2026.
India elected to four subsidiary bodies of United Nations Economic and Social Council (ECOSOC) (Mid of April) ▼
  • India was elected by acclamation to the Commission on Science and Technology for Development for the term 2027-2030.
  • India was elected by acclamation to the Committee on Non-Governmental Organisations for the term 2027-2030.
  • India was elected by acclamation to the Committee for Programme and Coordination for the term 2027-2029.
  • Ambassador Preeti Saran was re-elected to the Committee on Economic, Social and Cultural Rights for the term 2027-2030.

India's Prime Minister Narendra Modi undertakes European tour visiting Netherlands, Sweden, Norway, and Italy

Key Updates:

  • Prime Minister Narendra Modi met King Willem-Alexander and Queen Máxima at the Huis ten Bosch Palace in the Netherlands.
  • Bilateral trade between India and the Netherlands was valued at USD 27.8 billion in 2024-25, according to the Ministry of External Affairs (MEA).
  • The 16th European Union (EU)-India summit held in January resulted in the completion of negotiations for a free trade agreement to reduce tariffs and red tape.
  • The third India-Nordic summit in Oslo involves cooperation between India and Norway, Sweden, Denmark, Finland, and Iceland on technology, renewable energies, defence, space, and the Arctic region.
  • India and Italy committed to a Joint Strategic Action Plan in 2024 to enhance cooperation in security, defence, and safe and legal migration channels.

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India and United Arab Emirates sign seven key agreements on May 15, 2026 (Mid of May) ▼
  • India and the United Arab Emirates (UAE) signed seven key agreements during Prime Minister Narendra Modi's visit.
  • A strategic collaboration agreement was signed between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company (ADNOC) to strengthen energy security and strategic petroleum reserves.
  • A strategic agreement was signed for the supply of liquefied petroleum gas (LPG) to boost long-term energy security.
  • A framework agreement on a Strategic Defence Partnership was signed to expand cooperation in defence manufacturing, innovation, military training, maritime security, cyber defence, and secure communications.
  • A ship repair and maritime infrastructure cluster project is proposed at Vadinar in Gujarat to advance the Make In India scheme.
  • An arrangement on skill development in ship repair was established to position India as a hub for skilled shipbuilding and ship repair professionals.
  • The Centre for Development of Advanced Computing (C-DAC) and UAE's G-42 will set up eight Exaflop Super Computer Clusters.
  • The UAE committed $5 billion in investments across Indian infrastructure and financial institutions.
  • Prime Minister Narendra Modi is on a five-nation tour visiting the Netherlands, Sweden, Norway, and Italy.
  • The visit to Norway is the first official visit by an Indian prime minister to the Nordic nation in 43 years.
Prime Minister Modi to undertake week-long Europe visit from around May 18, likely to meet Pope (Start of May) ▼
  • 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.
India and France Elevate Relations to Special Global Strategic Partnership during President Macron's Visit (End of February) ▼
  • Prime Minister (PM) Narendra Modi and French President Emmanuel Macron elevated the India-France relationship to a Special Global Strategic Partnership.
  • Bilateral trade between India and France crossed $15 billion in 2024-25, driven by aircraft manufacturing, information technology, pharmaceuticals, and critical minerals.
  • An annual Foreign Ministers Dialogue was established to review the implementation of the elevated partnership and the Horizon 2047 Roadmap.
  • The leaders launched the India-France Year of Innovation and the India-France Innovation Network.
  • An H125 helicopter final assembly line was inaugurated at Vemagal, Karnataka.
  • Bharat Electronics Limited (BEL) and Safran entered a joint venture to produce Highly Agile Modular Munition Extended Range (HAMMER) missiles in India.
  • The bilateral agreement on defence cooperation was renewed for a period of 10 years during the 6th India-France Annual Defence Dialogue.
  • Reciprocal deployment of officers will be implemented at Indian Army and French Land Forces establishments.
  • A Joint Advanced Technology Development Group was constituted to enhance technological cooperation.
  • A Joint Declaration of Intent was signed for cooperation in the sector of critical minerals and metals.
  • The Department of Science and Technology (DST) and the French National Centre for Scientific Research (CNRS) signed a Letter of Intent (LoI) to establish a centre on advanced materials and a Memorandum of Understanding (MoU) for scientific collaboration.
  • The protocol on the Double Tax Avoidance Agreement (DTAA) between the two nations was amended.
  • The Indo-French Centre for Artificial Intelligence (AI) in Health was launched at the All India Institute of Medical Sciences (AIIMS), New Delhi.
  • New centres were established for Digital Sciences and Technology, Metabolic Health Sciences, and a National Centre of Excellence for Skilling in Aeronautics.
  • The Department of Biotechnology (DBT) and ANRS signed an LoI for cooperation in research and development on infectious diseases and global health.
  • T-Hub and Nord France signed an LoI for strategic cooperation in start-up ecosystems, innovation, and technology.
  • The Ministry of New and Renewable Energy (MNRE) renewed its MoU on renewable energy cooperation with the French Ministry for the Economy, Finance and Industrial, Energy and Digital Sovereignty.
  • The Department of Posts, Ministry of Communications, signed an LoI with La Poste, France.
  • President Macron invited PM Modi to the Group of Seven (G7) Summit to be chaired by France in 2026.
Prime Minister Narendra Modi to attend G7 summit in France from 15-17 June (End of March) ▼
  • Prime Minister Narendra Modi confirmed his participation in the G7 summit scheduled in France from 15 to 17 June.
  • External Affairs Minister S Jaishankar and French Minister for Europe and Foreign Affairs Jean-Noel Barrot welcomed Modi’s confirmation during their meeting on the sidelines of the G7 foreign ministers' meeting at Abbaye des Vaux-de-Cernay.
  • France highlighted India’s contribution to G7 work on macroeconomic imbalances and international partnerships, noting India’s current BRICS presidency.
  • Jaishankar and Barrot agreed to continue close coordination to ensure safety of the Strait of Hormuz amid West Asia conflict-related energy disruptions.
  • French President Emmanuel Macron and PM Modi, during Macron’s 17-19 February India visit, elevated bilateral ties to a 'Special Global Strategic Partnership' and jointly inaugurated the 2026 India-France Year of Innovation in Mumbai.

Madhya Pradesh partners with Google Cloud India for AI-powered governance and Smart Simhastha 2028

Key Updates:

  • The Madhya Pradesh government and Google Cloud India plan to establish an AI Center of Excellence in Indore to train and connect more than 10,000 developers.
  • For Simhastha 2028, Google Cloud India proposed AI-based systems including real-time crowd management, predictive traffic systems, and digital twin monitoring.
  • A multilingual AI-enabled application called 'Sahayak' was proposed to provide live crowd information, route guidance, and emergency alerts for pilgrims.
  • In agriculture, a Gemini-powered AI network was proposed to provide farmers with localized guidance, market insights, and digital support services.
  • For healthcare, the proposed 'Ojas AI' framework may support remote clinical assistance, high-risk pregnancy identification, and real-time health monitoring.

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Google Cloud India AI Hub: $15 Billion Investment in Visakhapatnam (Start of May) ▼
  • Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation stone for the Google Cloud India AI hub in Visakhapatnam on April 28, 2026.
  • The project is valued at over $15 billion.
  • The data centre is aimed to have an initial capacity of 1 GW, with the Andhra Pradesh government aiming to boost this to 6.5 gigawatts.
  • The hub will be established over 600 acres in the villages of Adavivaram, Rambilli, and Tarluvada.
  • The project is being developed as part of the 'Speed of Doing Business' policy of the Andhra Pradesh government.
Maharashtra Artificial Intelligence (AI) Policy 2026: ₹10,000 Crore Investment Target (End of April) ▼
  • The Maharashtra Cabinet approved the Maharashtra Artificial Intelligence (AI) Policy 2026, aiming to attract over ₹10,000 crore in investment and generate 1.5 lakh jobs by 2031.
  • The policy proposes the establishment of a Maharashtra AI Mission, five AI innovation cities, and six sectoral Centres of Excellence (CoE).
  • The six sectoral CoEs will focus on healthcare, agriculture, education, urban development, Marathi language and culture, and finance and revenue.
  • The state targets the training of two lakh youth and professionals through the Maharashtra Centre for Advanced AI Training (MCAT).
  • A common computing backbone featuring at least 2,000 Graphics Processing Units (GPUs) will be created under a compute-as-a-service model for government departments.
  • The policy includes the creation of datasets in Marathi, regional dialects, and tribal languages, alongside a State AI Data Exchange.
  • A 20 per cent subsidy on AI adoption will be provided to 5,000 Micro, Small and Medium Enterprises (MSMEs).
  • A ₹500 crore AI startup venture fund will be established with equal contributions from the government and private sector.
  • Twelve AI incubators will be set up, providing grants of up to ₹1 crore for startups and up to ₹1.25 crore for women-led ventures.
  • The state has set a target to support at least one AI unicorn.
  • A Maha AI Tools Hub will be established as a common platform to support AI adoption.
  • Investment incentives include up to 20 per cent capital subsidy, 100 per cent stamp duty exemption, and a power tariff subsidy of ₹2 per unit for up to 10 years.
  • The policy mandates annual AI readiness audits across all government departments.
OpenAI partners with Tata Group for 100 MW AI data centre in India, eyes 1 GW scale (End of February) ▼
  • OpenAI has partnered with Tata Group to secure 100 megawatts of AI-ready data centre capacity in India.
  • The capacity is planned to scale to 1 gigawatt over time.
  • OpenAI becomes the first customer of Tata Consultancy Services (TCS) HyperVault data centre business.
  • The deal includes deploying ChatGPT Enterprise across Tata’s workforce.
  • The partnership falls under the OpenAI for India initiative.
  • India has more than 100 million weekly ChatGPT users according to OpenAI CEO Sam Altman.
  • TCS plans to roll out ChatGPT Enterprise to hundreds of thousands of its employees.
  • TCS will use OpenAI’s Codex tools to standardise AI-native software development.
  • Tata Sons chairman N Chandrasekaran said the partnership will build state-of-the-art AI infrastructure in India.
  • TCS secured backing from TPG in November 2025 to develop AI-ready infrastructure under HyperVault.
  • HyperVault is backed by about ₹180 billion (about $2 billion) in planned investment.
  • TCS becomes the first organisation outside the United States to participate in OpenAI’s certification programmes.
  • OpenAI will open new offices in Mumbai and Bengaluru later this year.
  • The announcement was made during the AI Impact Summit in New Delhi.
  • OpenAI has partnered with Indian companies including Pine Labs, JioHotstar, Eternal, Cars24, HCLTech, PhonePe, CRED, and MakeMyTrip.

L’Oréal-UNESCO For Women in Science International Awards announces five laureates for 2026

Key Updates:

  • The 2026 L’Oréal-UNESCO For Women in Science International Awards were announced on May 19, 2026 in Paris, France, and will be presented at UNESCO headquarters on June 11, 2026.
  • The 2026 edition received a record 504 nominations from 89 countries, and the programme has recognised over 5,000 women researchers, including 142 laureates, seven of whom later won Nobel Prizes.
  • Professor Liesl Zühlke, of the University of Cape Town and Vice President of the South African Medical Research Council, was named laureate for Africa and the Arab States for improving care for children with rheumatic heart disease.
  • Professor Felice Jacka, Deakin Distinguished Professor at Deakin University in Australia, was awarded the Asia and the Pacific laureate for establishing the field of nutritional psychiatry linking diet, brain health, and mental health.
  • UNESCO and Fondation L’Oréal renewed their partnership for six years, and UNESCO noted that women still account for only one in three researchers globally.

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National Science Day 2026 Theme Announced as 'Women in Science: Catalyzing Viksit Bharat' by Department of Science and Technology (DST) (Start of March) ▼
  • National Science Day is observed on 28 February every year to commemorate C. V. Raman’s 1928 discovery of the Raman Effect.
  • The Department of Science and Technology (DST), Government of India, declared the 2026 theme as 'Women in Science: Catalyzing Viksit Bharat'.
  • Raman’s discovery earned him the 1930 Nobel Prize in Physics, making him the first Asian scientist to win a Nobel in science.
  • The national-level celebration will be hosted at Vigyan Bhawan in New Delhi under the 2026 theme.
Six Women Leaders Win 2026 Goldman Environmental Prize (End of April) ▼
  • The Goldman Environmental Foundation announced the recipients of the 2026 Goldman Environmental Prize.
  • For the first time in its history, the prize has been awarded to an all-female cohort consisting of six environmental activists.
  • Sasha Finch, a United Kingdom-based campaigner, was recognised for her work against fossil fuel expansion and oil drilling projects.
  • The other winners represent regions across Africa, Asia, the Americas, and Europe.
  • The recipients were honoured for initiatives including forest conservation, water protection, anti-mining campaigns, and defending Indigenous land rights.
  • The Goldman Environmental Foundation has honoured a total of 239 winners from 98 countries, including 112 women.
  • John Goldman serves as the vice-president of the foundation.
Goldman Environmental Foundation honours first all-women cohort for 2026 Prize (End of April) ▼
  • The Goldman Environmental Foundation announced an all-female cohort of six winners for the 2026 Goldman Environmental Prize.
  • Sasha Finch, a UK-based campaigner, is among the winners for her work opposing fossil fuel expansion and new oil drilling projects.
  • Other winners from Africa, Asia, the Americas, and Europe were recognised for initiatives in forest conservation, water protection, anti-mining campaigns, and defending Indigenous land rights.
  • The Goldman Environmental Foundation has honoured a total of 239 winners from 98 countries, including 112 women.
  • John Goldman is the vice-president of the foundation.
Safeena Husain named among TIME Women of the Year 2026 (Start of March) ▼
  • Safeena Husain, founder of the non-profit Educate Girls, has been selected as one of the TIME Women of the Year 2026.
  • TIME magazine announced the annual list recognising women leaders driving global change.
  • Husain’s organisation works to enrol out-of-school girls and improve learning outcomes in rural India.
  • The TIME Women of the Year list for 2026 highlights 12 women across fields including activism, science and business.

European Space Agency (ESA) and Chinese Academy of Sciences (CAS) Launch SMILE Mission

Key Updates:

  • The European Space Agency (ESA) and Chinese Academy of Sciences (CAS) jointly launched the Solar wind Magnetosphere Ionosphere Link Explorer (SMILE) mission.
  • The SMILE spacecraft was launched using a Vega C rocket from Kourou, French Guiana.
  • The mission is designed to study the interaction between Earth's magnetosphere and solar storms to predict space weather over a planned duration of three years.
  • The spacecraft is equipped with four scientific instruments: a magnetometer, an in-situ ion analyzer, an ultraviolet (UVI) imager, and a soft X-ray (SXI) imager developed by Leicester University.
  • SMILE will operate in a highly elliptical orbit and downlink data to the German Aerospace Center (DLR) O’Higgins Antarctic ground station.

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Blue Origin New Glenn Rocket Misplaces AST SpaceMobile Satellite (End of April) ▼
  • A Blue Origin New Glenn reusable rocket failed to place the AST SpaceMobile BlueBird 7 communications satellite in the designated low Earth orbit during its third mission on April 19, 2026.
  • The launch was conducted from the Cape Canaveral Space Force Station in Cape Canaveral, Florida, U.S.
  • The BlueBird 7 satellite will be de-orbited as its altitude is too low to sustain operations with its onboard thruster technology.
  • The Indian Space Research Organisation (ISRO) launched AST SpaceMobile's BlueBird 6 satellite using the Launch Vehicle Mark-3 from Sriharikota on December 23.
  • The National Aeronautics and Space Administration (NASA) has hired Blue Origin and SpaceX to provide landers to transport astronauts from lunar orbit to the surface of the moon as soon as 2028.
  • The Federal Aviation Administration (FAA) is overseeing a mishap investigation into the failure, which early data suggests was caused by one of the BE-3U engines producing insufficient thrust during the second GS2 burn.
Sweden and Norway Partner with Indian Space Research Organisation (ISRO) for Space Cooperation (Mid of May) ▼
  • Sweden has joined India's Venus orbiter mission, popularly known as Shukrayaan, with the Swedish Institute of Space Physics developing the Venusian Neutrals Analyser (VNA) to study the interaction of solar charged particles with the atmosphere and exosphere of Venus.
  • Approved in 2024 with an outlay of ₹1,236 crore, the mission will launch a spacecraft via an LVM-3 rocket on a 112-day journey, expected to reach the planet by July 2028.
  • The spacecraft will carry 19 payloads and settle into a Venusian orbit with a periapsis of 500 km and an apoapsis of 60,000 km, following the completion of its Preliminary Design Review in April 2026.
  • The mission's objectives include studying Venus' dense atmosphere, volcanic surface, weather systems, super-rotating clouds, and investigating if the planet once possessed conditions suitable for liquid water.
  • The Indian Space Research Organisation (ISRO) signed a Memorandum of Understanding (MoU) with the Norwegian Space Agency to enhance cooperation in understanding climate change and protecting fragile ecosystems under the India and Norway's Green Strategic Partnership.
SpaceX Falcon 9 Launches CAS500-2 and 45 Rideshare Payloads (Start of May) ▼
  • SpaceX launched a Falcon 9 rocket from Vandenberg Space Force Base in California on May 3.
  • The primary payload was CAS500-2, a 500-kilogram imaging satellite developed by the Korea Aerospace Research Institute (KARI).
  • Indian startup GalaxEye launched Mission Drishti, which is the world's first "OptoSAR" satellite combining an optical imager and a synthetic aperture radar.
  • The mission carried seven Hawk for Earth Observation (HEO) satellites built by Argotec for the IRIDE constellation, which has received over 1 billion euros in investment from the Italian government.
  • Other secondary payloads included three Pelican satellites by Planet, six imaging satellites by EarthDaily, two SAR satellites by Iceye, one BRO-21 satellite by Unseenlabs, two satellites by Lynk Global, and one Jackal spacecraft by True Anomaly.
GalaxEye launches world's first OptoSAR satellite Mission Drishti (Start of May) ▼
  • GalaxEye successfully launched its Mission Drishti satellite, described as the world's first OptoSAR satellite.
  • The 190-kilogram satellite is the largest ever built by an Indian private company.
  • Mission Drishti integrates electro-optical and synthetic aperture radar sensors for all-weather, day-and-night Earth observation.
  • The satellite was launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California as part of the CAS500-2 rideshare mission.
  • Prime Minister Narendra Modi and the Indian Space Research Organisation (ISRO) congratulated GalaxEye on the launch, calling it a major achievement.

National Anti-Terrorism Day observed in India on May 21

Key Updates:

  • National Anti-Terrorism Day is observed annually across India on May 21 to spread awareness about the dangers of terrorism and promote peace.
  • The day marks the death anniversary of former Prime Minister Rajiv Gandhi, who was assassinated in 1991 at Sriperumbudur, Tamil Nadu.
  • The Government of India (GoI) instituted this day to strengthen public resolve against terrorism, prevent youth radicalisation, and encourage citizens to uphold democratic values.
  • Rajiv Gandhi, who served as the Prime Minister of India from 1984 to 1989, was the youngest individual to hold the office.
  • His major contributions included expanding computerisation and telecommunications, supporting education and technology, strengthening Panchayati Raj reforms, and encouraging modernisation.
  • Non-Governmental Organisations (NGOs) and educational institutions across the country organise pledge ceremonies and awareness programmes to reinforce the message of national integration.

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Pakistan PM Shehbaz Sharif announces May 10 as 'Marka-e-Haq Day' annually to mark 2025 conflict with India (Mid of May) ▼
  • Pakistan Prime Minister Shehbaz Sharif announced that May 10 will be observed annually as 'Marka-e-Haq Day' to mark the first anniversary of the four-day conflict with India in 2025.
  • The conflict began after the 22 April Pahalgam terror attack in which 26 people, mostly tourists, were killed, prompting India to launch Operation Sindoor on May 7, 2025.
  • India carried out airstrikes on nine terror infrastructures in Pakistan and Pakistan-occupied Kashmir, eliminating at least 100 terrorists.
  • The hostilities ended with an understanding to halt military actions on May 10, 2025, following talks between army officials of both sides.
  • Pakistan PM thanked United States President Donald Trump, Saudi Crown Prince Mohammed bin Salman, Turkish President Recep Tayyip Erdogan, and Chinese President Xi Jinping for their political support during the conflict.
Pakistan announces May 10 as 'Marka-e-Haq Day' to commemorate conflict with India (Mid of May) ▼
  • Pakistan Prime Minister Shehbaz Sharif announced that May 10 will be observed annually as 'Marka-e-Haq Day'.
  • 'Marka-e-Haq' is the name given by Islamabad to a four-day conflict with India that occurred in 2025.
  • The conflict was triggered by a terror attack in Pahalgam on 22 April, which resulted in the deaths of 26 people.
  • India launched Operation Sindoor on May 7, conducting airstrikes on nine terror infrastructures in Pakistan and Pakistan-occupied Kashmir (PoK), eliminating at least 100 terrorists.
  • Military hostilities ended on May 10, 2025, following an understanding reached through talks between army officials of both nations.
India commemorates first anniversary of Operation Sindoor against terror infrastructure in PoK and Pakistan (Start of May) ▼
  • India observed the first anniversary of Operation Sindoor, a military countermeasure initiated following the Pahalgam terror attack on 22 April 2025.
  • The operation involved decisive military action by the Indian Armed Forces against terror infrastructure and terrorists located in Pakistan-occupied Kashmir (PoK) and Pakistan.
  • The Indian Air Force (IAF) released footage of the 88-hour military response, which included precision strikes that commenced at 1:05 AM.
  • The Headquarters of the Indian Defence Staff (HQ IDS) designated the operation as a symbol of national resolve to safeguard the sovereignty of the country.
  • Prime Minister (PM) Narendra Modi stated that India would identify and punish terrorists and their backers, asserting that terror and trade cannot coexist.
Ministry of Home Affairs (MHA) releases National Counter-Terrorism Policy and Strategy (PRAHAAR) (End of February) ▼
  • The Ministry of Home Affairs (MHA) has released the National Counter-Terrorism Policy and Strategy, named PRAHAAR, to provide a comprehensive framework for preventing and mitigating terrorism.
  • The strategy emphasizes intelligence-led operations, multi-agency coordination, and a zero-tolerance stance against terrorism while upholding human rights and the rule of law.
  • The Multi Agency Centre (MAC) and the Joint Task Force on Intelligence (JTFI) under the Intelligence Bureau (IB) serve as nodal platforms for real-time sharing of counter-terror inputs.
  • The National Security Guard (NSG) functions as the nodal national counter-terror force under the MHA to assist state forces and enhance their operational capacities.
  • Legal frameworks supporting the strategy include the Unlawful Activities (Prevention) Act (UAPA) 1967, Bharatiya Nyaya Sanhita (BNS) 2023, Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and Bharatiya Sakshya Adhiniyam (BSA) 2023.
  • The policy identifies critical infrastructure for protection, including power, railways, aviation, ports, defence, space, and atomic energy.
  • The Bureau of Police Research & Development (BPR&D), in collaboration with state and Central Armed Police Forces (CAPFs) training institutions, will conduct regular training for personnel.
  • The strategy addresses the use of modern technology by terrorist groups, including encrypted communications, the dark web, cryptocurrency, and drones.

World Metrology Day observed on May 20 with the theme Metrology: Building Trust in Policy Making

Key Updates:

  • World Metrology Day was commemorated on May 20, 2026, marking the 151st anniversary of the historic Metre Convention signed in Paris in 1875.
  • The theme for World Metrology Day 2026 is Metrology: Building Trust in Policy Making, focusing on the role of accurate measurement in governance and consumer protection.
  • India has become the 13th country authorised to issue International Organization of Legal Metrology (OIML) pattern approval certificates and will host the 61st Meeting of the International Committee of Legal Metrology in New Delhi in October 2026.
  • The National Physical Laboratory (NPL) and Indian Space Research Organisation (ISRO) are jointly implementing the One Nation, One Time initiative to disseminate Indian Standard Time (IST).
  • The Union Government launched the e-Maap portal and issued 40 Government Approved Test Centre (GATC) certificates to private entities to expand measurement infrastructure.

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World Telecommunication and Information Society Day observed on 17 May (End of May) ▼
  • World Telecommunication and Information Society Day is observed annually on 17 May.
  • The theme for 2026 is Digital lifelines: Strengthening resilience in a connected world.
  • The day is organised by the International Telecommunication Union (ITU), which was founded in 1865.
  • The United Nations (UN) combined World Telecommunication Day with World Information Society Day in 2006.
  • India's digital progress includes initiatives such as Digital India, BharatNet Project, expansion of 5G services, online governance systems, and digital payment platforms like Unified Payments Interface (UPI).
India and Japan sign agreements in quantum technology and health research on May 06, 2026 (Start of May) ▼
  • India and Japan exchanged agreements in quantum science and medical devices during a high-level bilateral meeting in New Delhi on May 06, 2026.
  • A Memorandum of Cooperation (MoC) in health and medical devices was signed between the Japan Agency for Medical Research and Development (AMED), the Indian Council of Medical Research (ICMR), and the Department of Science and Technology (DST).
  • A Letter of Intent (LoI) on cooperation in Quantum Science and Technology was signed between Japan's Cabinet Office and the DST.
  • The engagement is part of the India-Japan Science, Technology and Innovation Partnership, building on the outcomes of Prime Minister Narendra Modi's visit to Japan in August 2025.
  • India's deep-tech focus includes national missions in Quantum Technologies, Cyber-Physical Systems, Electric Mobility, Clean Energy, and Advanced Computing.
  • Collaboration under India's National Quantum Mission covers quantum computing, communication, sensing, and secure communication networks.
National Technology Day observed on May 11 commemorates 1998 Pokhran nuclear tests (Operation Shakti) and technological milestones like Hansa-3 aircraft and Trishul missile. (Mid of May) ▼
  • National Technology Day is observed annually on May 11 to commemorate India's successful nuclear tests at Pokhran in 1998, collectively known as Operation Shakti, which made India the sixth member of the global nuclear club.
  • India conducted three underground nuclear tests on May 11, 1998, followed by two more on May 13, demonstrating thermonuclear and fission weapons capability.
  • The operation was led by aerospace scientist and former President Dr. A.P.J. Abdul Kalam.
  • The day also marks the successful test flight of the indigenous Hansa-3 aircraft in Bengaluru and the successful test-firing of the Trishul surface-to-air missile developed by the Defence Research and Development Organisation (DRDO).
  • Former Prime Minister Atal Bihari Vajpayee declared May 11 as National Technology Day in 1999 to honour India's scientific community.
National Technology Day observed on May 11 (Mid of May) ▼
  • National Technology Day is observed every year on May 11 to commemorate the successful Pokhran-II nuclear tests of May 11, 1998.
  • The 500 MWe Prototype Fast Breeder Reactor (PFBR) at Kalpakkam, Tamil Nadu, developed by BHAVINI under the Department of Atomic Energy, reached first criticality in April 2026, making India the second country after Russia to have a commercial-scale fast breeder reactor.
  • India became the fourth nation to achieve a soft landing on the Moon and the first to do so near the lunar south pole through the Chandrayaan-3 mission in July 2023.
  • Aditya-L1, India's first dedicated solar observatory, was launched in September 2023 and reached its halo orbit around the Sun-Earth L1 point in January 2024.
  • The NASA-ISRO Synthetic Aperture Radar (NISAR) mission, launched in July 2025, employs dual L-band and S-band radar to monitor Earth's surface changes.
  • The Gaganyaan mission, expected in the first quarter of 2027, aims to send three astronauts (vyomnauts) into low Earth orbit at approximately 400 km for up to three days.
  • The Advanced Medium Combat Aircraft (AMCA) is an indigenous fifth-generation stealth multirole fighter with a prototype rollout targeted for late 2026–2027 and a first flight scheduled for 2028.

International Tea Day observed on May 21 with theme 'Fostering Growth and Inclusion'

Key Updates:

  • International Tea Day is observed annually on May 21.
  • The official themes for International Tea Day 2026 are Fostering Growth and Inclusion and Sustaining Tea, Supporting Communities.
  • The United Nations (UN) recognised International Tea Day in 2019 to honour tea farmers and raise awareness of tea's cultural, health, and economic significance.
  • Tea's origins date back thousands of years to ancient China.
  • Indian regional tea varieties include Masala chai (spiced with cardamom, ginger, cloves, cinnamon, and black pepper), Adrak chai (ginger tea), and Kahwa (green tea with saffron and almonds).

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International No Diet Day observed on May 6 (Start of May) ▼
  • International No Diet Day (INDD) is observed annually on May 6 to focus on body acceptance and a healthy lifestyle.
  • The day was created by Mary Evans Young, the director of the group Diet Breakers, and first celebrated in the United Kingdom (UK) in 1992.
  • In 1993, the observance became international with support from feminist groups in India, United States, Canada, Brazil, Australia, New Zealand, Denmark, and Israel.
  • The symbol of the observance is a light blue ribbon.
  • INDD aims to raise awareness of weight discrimination, fat phobia, sizism, and the potential dangers of commercial diet plans.
Netherlands and India Collaborate on Sustainable Spice Value Chains (May 06, 2026) (Start of May) ▼
  • The Consulate General of the Kingdom of the Netherlands for South India and the World Spice Organisation (WSO) organised a seminar on “Sustainable Spice Value Chains”.
  • India exports over 250 varieties of spices and value-added products to more than 180 countries.
  • The Spices Board promotes Good Agricultural Practices, Scientific Crop-Management Practices, Integrated Pest Management, Hygienic Processing Systems, and Farmer-Capacity Building Programmes.
  • The Netherlands collaborates with India through trade partnerships and sustainability initiatives aligned with United Nations (UN) sustainable development goals.
  • The National Sustainable Spices Program (NSSP), launched in 2019, covers chilli, cumin, coriander, turmeric, and pepper, involving over 35,000 farmers through Farmer Producer Organisations (FPOs).
International Day of Plant Health 2026 focuses on Plant Biosecurity for Food Security (Mid of May) ▼
  • The International Day of Plant Health is observed on 12 May 2026 at the Sheikh Zayed Centre, Food and Agriculture Organization (FAO) Headquarters in Rome.
  • The theme for the 2026 observance is Plant Biosecurity for Food Security and Nutrition, highlighting biosecurity as a safety net in agrifood systems.
  • Opening remarks for the high-level event were delivered by FAO Director-General QU Dongyu and FAO Chief Economist Máximo Torero via video message.
  • The International Plant Protection Convention (IPPC) Secretariat guided the dialogue involving the Ambassadors of Brazil, Mexico, and the United States, and the Director General of the Alliance of Bioversity International & CIAT.
  • Plant biosecurity supports the FAO Four Betters by safeguarding production systems, improving nutrition outcomes, conserving ecosystems, and strengthening resilient livelihoods.
First-ever export of GI-tagged Karbi Anglong Ginger to London (Start of March) ▼
  • Assam exported 1.2 metric tonnes of GI-tagged Karbi Anglong Ginger to London for the first time.
  • Chief Minister Himanta Biswa Sarma flagged the shipment as taking 'Brand Assam to the world'.
  • Agriculture Minister Atul Bora flagged off the consignment from Krishi Bhawan, Guwahati.
  • The export was facilitated by Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with NextOn Foods Pvt. Ltd.
  • Karbi Anglong Ginger holds a Geographical Indication (GI) tag for its distinctive aroma, fibre content and pungency.

Shyam Srinivasan launches debut book Better Never Stops on May 18, 2026

Key Updates:

  • Shyam Srinivasan, the former Managing Director (MD) and Chief Executive Officer (CEO) of Federal Bank, has released his debut book titled Better Never Stops.
  • The book was officially announced and made available for purchase in bookstores and on Amazon on May 18, 2026.
  • Srinivasan served as the head of Federal Bank for more than a decade, during which the institution expanded its digital and retail banking operations.
  • Better Never Stops is categorised as part memoir and part leadership guide, focusing on themes of resilience, growth, and self-improvement.
  • The author shared the update regarding the book's release through a social media post on LinkedIn and was photographed signing copies at a bookstore.

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Karan Adani received Business Leader of the Year award from All India Management Association (AIMA). (End of February) ▼
  • Karan Adani, Managing Director of Adani Ports and SEZ Limited, was honoured as Business Leader of the Year at the Foundation Day of All India Management Association (AIMA).
  • He dedicated the award to employees of the Adani Group, stating they work day and night at plants and remote sites across the country.
  • Karan Adani credited his father for teaching him perseverance, hard work and long-term thinking.
  • He thanked his mother for teaching him compassion, humility and the need to be a better human being.
  • He acknowledged the support of his three brothers and his wife Paridhi for their constant encouragement.
  • He expressed gratitude to his three daughters for inspiring him daily to be a better father and person.
  • The award recognised leadership that combines business growth with strong human values.

International Day for Women in Maritime observed on 18 May with theme "From Policy to Practice: Advancing Gender Equality for Maritime Excellence"

Key Updates:

  • The International Day for Women in Maritime is observed globally on 18 May every year.
  • The theme for 2026 is "From Policy to Practice: Advancing Gender Equality for Maritime Excellence".
  • The day was established following resolution A.1170(32) adopted by the International Maritime Organization (IMO) Assembly.
  • Professor Momoko Kitada of the World Maritime University (WMU) was presented with the 2026 IMO Gender Equality Award.
  • The IMO and WMU jointly published the Handbook on Gender Mainstreaming in the Maritime Sector, developed by Professor Momoko Kitada.

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National Maritime Day observed on April 5 (Start of April) ▼
  • National Maritime Day is observed every year on April 5 to recognise India’s maritime heritage and the shipping industry’s role in trade and economic growth.
  • The date marks the 1919 maiden voyage of the Indian-owned ship SS Loyalty from Mumbai to London, operated by Scindia Steam Navigation Company.
  • Over 90% of India’s trade by volume is transported via sea.
  • India has a coastline of over 7,500 km, 12 major ports and over 200 non-major ports.
  • India is among the top suppliers of skilled seafarers globally.
India conducts Samudra Pradakshina all-women tri-service global circumnavigation expedition (Mid of May) ▼
  • The Indian Army Sailing Vessel (IASV) Triveni is completing Samudra Pradakshina, which is India’s first all-women tri-service global circumnavigation expedition.
  • The crew comprises 10 women officers from the Indian Army, Indian Navy, and Indian Air Force (IAF), led by Expedition Leader Lieutenant Colonel Anuja Varudkar.
  • IASV Triveni is a 50-foot yacht built in Puducherry that is expected to complete the 43,000-kilometre expedition in June 2026.
  • The voyage commenced from Mumbai on 11 September 2025 and covered over 23,000 nautical miles by 8 May 2026 with stops in Australia, New Zealand, Argentina, and Cape Town.
  • The crew is scheduled to cross the equator twice and round three major landmarks: Cape Leeuwin, Cape Horn, and the Cape of Good Hope.
International Day of Women in Industry observed on 21 April 2026 (End of April) ▼
  • The first global celebration of the International Day of Women in Industry was observed on 21 April 2026 in Yerevan, Armenia.
  • The event was led by the United Nations Industrial Development Organization (UNIDO) at the UN House.
  • The celebration marked the first UNIDO-led inter-agency initiative in Armenia, involving the United Nations Development Programme (UNDP), UN Women, and the United Nations Population Fund (UNFPA).
  • The event saw the participation of 92 representatives from the government, private sector, civil society, and development partners.
National Maritime Day observed on April 5 (Start of April) ▼
  • 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 95 per cent of its trade by volume through maritime routes.
  • The Indian Navy (IN) operates Operation Sankalp to maintain a constant vigil and provide security escorts for merchant vessels in the Gulf region.
  • The Sagarmala Programme is a government initiative designed to modernise ports, improve connectivity, and reduce logistics costs across India.
  • The India-Middle-East-Europe Corridor (IMEC) is a strategic project aimed at linking India to Europe through maritime and overland routes via the Middle East.
  • India imports more than 85 per cent of its crude oil, with nearly 80 per cent of its energy imports passing through the Strait of Hormuz.
  • Historical maritime milestones include the Harappan port of Lothal and the naval dominance of the Chola Empire in the Bay of Bengal and Southeast Asia.
  • The Indian government has implemented strategic visions such as Security and Growth for All in the Region (SAGAR) and MAHASAGAR to enhance cooperation in the Indian Ocean.
  • Major Indian ports mentioned as gateways to trade include Mumbai, Kandla, Visakhapatnam, Chennai, Kochi, Paradip, and Tuticorin.
  • Advanced naval assets deployed for maritime security and deterrence include the warship INS Surat and the submarine INS Aridhaman.

Bharat Singh Chauhan re-elected as Chairman of Commonwealth Chess Association (CCA)

Key Updates:

  • Bharat Singh Chauhan was unanimously re-elected as the chairman of the Commonwealth Chess Association (CCA) for a four-year term.
  • The elections were conducted during the Annual General Body Meeting of the CCA in Wasakaduwa, Sri Lanka.
  • Chauhan currently serves as the chairman of the International Chess Federation (FIDE) advisory board and the deputy president of the Asian Chess Federation (ACF).
  • Chauhan has previously served as the secretary of the All India Chess Federation (AICF).
  • Other elected officials include Akhramsyah Muammar Ubaidsh Sanusi of Malaysia as deputy chairman, G. Luxman Wijesuriya of Sri Lanka as general secretary, and Vicky Magu of South Africa as treasurer.

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International Chess Federation joins International World Games Association (End of April) ▼
  • The International Chess Federation (FIDE) joined the International World Games Association (IWGA) at the Annual General Meeting (AGM).
  • The AGM was held at the Olympic Museum in Lausanne.
  • The inclusion of FIDE has increased the IWGA membership to 40 federations.
  • Arkady Dvorkovich is the President of FIDE.
Dr. Harvansh Chawla Appointed as Chairman of BRISEC Chamber of Commerce & Industry (BRISEC) (Mid of May) ▼
  • Dr. Harvansh Chawla has been appointed as the Chairman of the BRISEC Chamber of Commerce & Industry (BRISEC).
  • He is a legal expert specialising in international trade and policy.
  • Dr. Chawla previously served as the Chairman of the BRICS Chamber of Commerce & Industry (BRICS CCI).
  • His tenure at BRICS CCI involved advancing trade and investment among BRICS+ nations and developing institutional dialogues.
  • The mandate of BRISEC under his leadership includes enhancing cross-border trade opportunities and facilitating policy dialogues for global business engagements.
Jayen Mehta Elected as Chairman of SPCDF (Mid of May) ▼
  • Jayen Mehta has been elected as the Chairman of the SPCDF.
  • The election for the position of Chairman was conducted unanimously.
  • Mehta currently holds the post of Managing Director (MD) at the Gujarat Cooperative Milk Marketing Federation (GCMMF).
India assumes chairmanship of Common Criteria Development Board from April 2026 to April 2028 (Mid of May) ▼
  • 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.

Medha Vishram Kulkarni Nominated Chairperson of Parliamentary Standing Committee on Science and Technology, Environment, Forests and Climate Change

Key Updates:

  • Rajya Sabha Chairman C P Radhakrishnan nominated Bharatiya Janata Party (BJP) member Medha Vishram Kulkarni as chairperson of the department-related Parliamentary Standing Committee on Science and Technology, Environment, Forests and Climate Change on May 18.
  • Lok Sabha Speaker Om Birla appointed BJP member Sudheer Gupta as Chairperson of the Joint Committee on Corporate Laws (Amendment) Bill, 2026.
  • The Rajya Sabha members of the Joint Committee on Corporate Laws (Amendment) Bill 2026 are Vinod Shridhar Tawde, Sujeet Kumar, Ujjwal Deorao Nikam, Harsh Vardhan Shringla, Vivek K Tankha, R Girirajan, S Niranjan Reddy, Sanjay Kumar Jha and Masthan Rao Yadav Beedha.
  • The Lok Sabha members of the Joint Committee on Corporate Laws (Amendment) Bill 2026 are Kamaljeet Sehrawat, Mukeshkumar Chandrakaant Dalal, Sudheer Gupta, Baijayant Panda, Nishikant Dubey, Tejasvi Surya, P P Chaudhary, Konda Vishweshwar Reddy, Shashank Mani, Varun Chaudhry, Sudha R, Dhanorkar Pratibha Suresh, Rahul Kaswan, Dimple Yadav, Mahua Moitra, Dayanidhi Maran, Magunta Sreenivasulu Reddy, Supriya Sule, Devesh Chandra Thakur, Anil Yeshwant Desai and Naresh Ganpat Mhaske.

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Empowerment of Women Committee Constituted for 2026-27; D Purandeswari Appointed Chairperson (Mid of May) ▼
  • Lok Sabha Speaker Om Birla constituted the Empowerment of Women Committee for the year 2026-27 with effect from April 21, 2026.
  • Senior Bharatiya Janata Party (BJP) leader and Member of Parliament (MP) D Purandeswari has been appointed as the Chairperson of the committee.
  • The committee consists of 30 members, with 20 nominated by the Speaker from the Lok Sabha and 10 nominated by the Chairman of the Rajya Sabha.
  • Members from the Lok Sabha include Hema Malini, Harsimrat Kaur Badal, Mahima Kumari Mewar, and Smita Uday Wagh, while Rajya Sabha members include Sagarika Ghose, Swati Maliwal, Sudha Murty, and PT Usha.
  • The Committee on Empowerment of Women was first constituted on April 29, 1997, during the 11th Lok Sabha to focus on women's welfare, empowerment, and development.
R Mukundan elected President of Confederation of Indian Industry (CII) (Mid of May) ▼
  • R Mukundan, Managing Director and CEO of Tata Chemicals, was elected President of the Confederation of Indian Industry (CII) for 2026-27.
  • Mukundan succeeds Rajiv Memani as the President of CII.
  • Suchitra K Ella, Co-Founder and Managing Director of Bharat Biotech, was appointed President-Designate of CII for 2026-27.
  • Shashwat Goenka, Vice-Chairman of RP-Sanjiv Goenka Group, was named Vice President of CII.
  • Suchitra K Ella was awarded the Padma Bhushan in 2022.
Jagat Prakash Nadda chairs reconstituted Hindi Advisory Committee of Ministry of Chemicals and Fertilisers. (Start of March) ▼
  • The government reconstituted the Hindi Advisory Committee for the Ministry of Chemicals and Fertilisers.
  • Union Minister for Chemicals and Fertilisers Jagat Prakash Nadda will serve as the chairman of the committee.
  • The committee includes six nominated Members of Parliament.
  • The committee will review and recommend measures for the progressive use of Hindi in the ministry’s official work and its subordinate offices.
Kuljeet Kaur Marhas elected Fellow of The Meteoritical Society (Mid of May) ▼
  • Kuljeet Kaur Marhas became the first Indian woman to be elected as a Fellow of The Meteoritical Society for 2026.
  • She is a professor in the Planetary Science Division at the Physical Research Laboratory (PRL) in Ahmedabad and a scientist at the Indian Space Research Organisation (ISRO).
  • She is the third Indian scientist to receive this honour, following Devendra Lal and JN Goswami.
  • Her research involves using Secondary Ion Mass Spectrometry (SIMS) and nanoSIMS techniques to analyse isotopic signatures in extraterrestrial materials.
  • She is a Fellow of the American Geophysical Union (AGU) and a recipient of the Devendra Lal Memorial Medal.

Reserve Bank of India (RBI) Appoints New Executive Director and Issues Revised Loan Recovery Guidelines

Key Updates:

  • The Reserve Bank of India (RBI) has appointed Shri Gunveer Singh as the new Executive Director (ED).
  • The RBI issued revised draft amendment directions regarding the Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents.
  • The central bank announced an underwriting auction for the sale of Government Securities (G-Secs) for a total value of ₹32,000 crore.
  • The RBI cancelled the banking licence of The Yashwant Co-operative Bank Ltd., Phaltan, and the Certificate of Registration (CoR) of 150 Non-Banking Financial Companies (NBFCs).
  • Monetary penalties were imposed on multiple entities including IIFL Finance Limited, Appnit Technologies Private Limited, and AKG Infin Private Limited for regulatory non-compliance.

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Reserve Bank of India (RBI) discontinues Investment Fluctuation Reserve (IFR) requirement for commercial banks (Mid of May) ▼
  • The RBI has issued final amendment directions to dispense with the IFR requirement for commercial banks effective from May 18, 2026.
  • The IFR serves as a financial buffer maintained by banks to absorb valuation losses in investment portfolios resulting from interest rate movements and market volatility.
  • The balance in the IFR as of May 17 will be transferred to the statutory reserve, general reserve, or profit and loss account, effectively treating the balance as Tier 1 capital.
  • The amendments cover a broad set of regulated entities including Small Finance Banks (SFBs), Payments Banks (PBs), Local Area Banks (LABs), Urban Co-operative Banks (UCBs), Rural Co-operative Banks, and Regional Rural Banks (RRBs).
  • For remaining regulated entities, the RBI has relaxed compliance by allowing the maintenance of the prescribed IFR level only on balance sheet dates instead of on a continuous basis.
Reserve Bank of India (RBI) caps banks' net open position at $100 million (End of March) ▼
  • Reserve Bank of India (RBI) has capped banks' net open position in rupee at $100 million effective April 10, 2026.
  • This is the first time in nearly 15 years that RBI has imposed such curbs on currency market bets.
  • Previously, bank boards fixed the net open position limit.
  • Post-2013, banks set their own Net Overnight Open Position Limits (NOOPL) up to 25% of Tier I/II capital.
  • In December 2011, RBI had curbed net open position limits by 75% for some banks and 50% for top banks after the domestic currency weakened by 20%.
Reserve Bank of India (RBI) to purchase ₹1 lakh crore bonds via two OMO auctions. (Start of March) ▼
  • The Reserve Bank of India (RBI) will conduct two open market operation (OMO) purchase auctions of ₹50,000 crore each on March 9 and March 13.
  • The OMO purchases aim to infuse liquidity into the banking system ahead of mid-March advance tax outflows of approximately ₹2 lakh crore.
  • Banking system liquidity averaged a daily surplus of ₹2.63 lakh crore in March, up from ₹2.53 lakh crore in February.
  • The RBI purchased ₹12,715 crore of bonds on-screen in February and likely bought additional bonds in the first week of March.
  • State Bank of India (SBI) saw its liquidity coverage ratio (LCR) fall to 125% in Q3 from 144% in Q2 due to strong credit growth outpacing deposit accretion.
  • Vedanta Ltd plans to raise about ₹3,000 crore through domestic three-year and five-year non-convertible debentures offering coupons around 8.75% and 9% respectively next week.
  • Bank of Baroda raised ₹10,000 crore via green infrastructure bonds.
Reserve Bank of India (RBI) injects ₹48,014 crore via 7-day VRR auction (Mid of March) ▼
  • The Reserve Bank of India (RBI) infused ₹48,014 crore into the banking system through a seven-day variable rate repo (VRR) auction.
  • The funds were injected at a cut-off and weighted average rate of 5.26 per cent.
  • The auction amount was significantly lower than the notified ₹1.50 lakh crore.
  • Surplus liquidity in the banking system dropped to around ₹75,483.63 crore as of March 16 from ₹2.08 lakh crore on March 15 due to advance tax outflows.
  • Since January 2026, the RBI has infused ₹3.50 lakh crore of durable liquidity through open market purchases (OMO) of government securities.

Artificial Intelligence (AI) Ministry: Keralam establishes India's first dedicated AI portfolio

Key Updates:

  • The Keralam government has created a dedicated Artificial Intelligence (AI) portfolio at the cabinet level for the first time as part of a major ministerial reshuffle.
  • Indian Union Muslim League (IUML) leader PK Kunhalikutty has been assigned the AI department, along with Industries and Commerce, Information Technology (IT), start-ups, mining, and handlooms.
  • Chief Minister (CM) VD Satheesan retains several key departments, including Finance, Kerala Financial Corporation (KFC), Ports, Law, Pollution Control, Airports, Metro Rail, and Railways.
  • Ramesh Chennithala has been given charge of the Home department, Vigilance, Fire and Rescue Services, Prisons, and Coir, while PC Vishnunadh handles Tourism and Culture.
  • M Liju is assigned Co-operation and Excise, while Roji M John handles Collegiate Education, Technical Education, Universities, National Cadet Corps (NCC), and Additional Skill Acquisition Programme (ASAP).
  • T Siddique oversees Agriculture and allied sectors, while K A Thulasi handles social welfare portfolios including Scheduled Castes, Scheduled Tribes, and Backward Classes development.
  • Bindhu Krishna manages Labour, Animal Husbandry, and Women and Child Development, while O J Janeesh handles Sports and Youth Affairs.
  • N Samsudheen is assigned General Education and Minority Welfare; K M Shaji handles Panchayat and Rural Development; and P K Basheer handles the Public Works Department (PWD).
  • VE Abdul Gafoor handles Fisheries; Mons Joseph oversees Irrigation; Anoop Jacob handles Food and Civil Supplies; and Shibu Baby John is assigned Forests and Wildlife Protection.
  • C P John handles Road Transport; K Muraleedharan oversees Health and Medical Education; and Sunny Joseph handles Electricity and the Agency for New and Renewable Energy Research and Technology (ANERT).
  • AP Anilkumar oversees Land Revenue and Reforms, while Advocate T Asaf Ali and Advocate Jaju Babu have been appointed as Director General of Prosecution and Advocate General respectively.
  • The United Democratic Front (UDF) government officially assumed power in Keralam on May 18, 2026, ending ten years of Left Democratic Front (LDF) rule.

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Maharashtra Artificial Intelligence (AI) Policy 2026: ₹10,000 Crore Investment Target (End of April) ▼
  • The Maharashtra Cabinet approved the Maharashtra Artificial Intelligence (AI) Policy 2026, aiming to attract over ₹10,000 crore in investment and generate 1.5 lakh jobs by 2031.
  • The policy proposes the establishment of a Maharashtra AI Mission, five AI innovation cities, and six sectoral Centres of Excellence (CoE).
  • The six sectoral CoEs will focus on healthcare, agriculture, education, urban development, Marathi language and culture, and finance and revenue.
  • The state targets the training of two lakh youth and professionals through the Maharashtra Centre for Advanced AI Training (MCAT).
  • A common computing backbone featuring at least 2,000 Graphics Processing Units (GPUs) will be created under a compute-as-a-service model for government departments.
  • The policy includes the creation of datasets in Marathi, regional dialects, and tribal languages, alongside a State AI Data Exchange.
  • A 20 per cent subsidy on AI adoption will be provided to 5,000 Micro, Small and Medium Enterprises (MSMEs).
  • A ₹500 crore AI startup venture fund will be established with equal contributions from the government and private sector.
  • Twelve AI incubators will be set up, providing grants of up to ₹1 crore for startups and up to ₹1.25 crore for women-led ventures.
  • The state has set a target to support at least one AI unicorn.
  • A Maha AI Tools Hub will be established as a common platform to support AI adoption.
  • Investment incentives include up to 20 per cent capital subsidy, 100 per cent stamp duty exemption, and a power tariff subsidy of ₹2 per unit for up to 10 years.
  • The policy mandates annual AI readiness audits across all government departments.
Union Cabinet approves renaming Kerala as Keralam (End of February) ▼
  • The Union Cabinet approved the renaming of Kerala as Keralam on 25 February 2026.
  • The Kerala Legislative Assembly passed unanimous resolutions in 2023 and 2024 urging the change.
  • Both resolutions were moved by Chief Minister Pinarayi Vijayan.
  • The 2024 resolution noted the state is called Keralam in Malayalam while listed as Kerala in the First Schedule of the Constitution.
  • The renaming requires a Constitutional amendment under Article 3.
  • The Union Ministry of Home Affairs (MHA) examines such proposals and obtains No Objection Certificates from agencies including the Ministry of Railways, Intelligence Bureau, Department of Posts, Survey of India, and Registrar General of India.
  • The proposal is introduced as a Bill in Parliament and takes effect after passage and notification.
Deakin University and Telangana Government sign MoU for Applied Artificial Intelligence (AI) collaboration (Mid of April) ▼
  • Deakin University and the Government of Telangana, through Aikam™, signed a Memorandum of Understanding (MoU) to collaborate on applied Artificial Intelligence (AI), skilling, research, and innovation.
  • The agreement was signed at the Telangana State Secretariat by Professor Iain Martin, Vice-Chancellor of Deakin University, and Shri Phani Nagarjuna, CEO of Aikam™.
  • The partnership focuses on three key pillars: AI skilling and education, research and applied innovation, and ecosystem and industry engagement.
  • A Joint Centre of Excellence (CoE) in Applied AI, named the Aikam-Deakin Hub for Research in Intelligent Technology & Innovation (Aikam-DHRITI), will be established under the agreement.
  • Aikam™ is India's first ecosystem-approach based open innovation entity designed to position Telangana as a global hub for frontier technologies.
  • The collaboration aims to develop public sector use-case applications by leveraging emerging technologies such as Data, Cybersecurity, AI, and Machine Learning.