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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Proposes Amendments to Securitised Debt Instruments Regulations to Align with Reserve Bank of India Securitisation Framework

• The Securities and Exchange Board of India (SEBI) has proposed amendments to the Securitised Debt Instruments (SDI) Regulations to align them with the Reserve Bank of India (RBI) guidelines on securitisation of standard assets (SSA).
• The move aims to remove regulatory inconsistencies between SEBI and RBI frameworks, especially for transactions originated by RBI-regulated entities.

Key Highlights :

• SEBI has proposed allowing single-asset securitisation for RBI-regulated entities by exempting them from the condition that no single obligor should account for more than 25% of the asset pool.
• The proposal also seeks to relax restrictions on transactions between originators and related Special Purpose Distinct Entities (SPDEs), provided there is no control exercised over the SPDE or trustee.
• SEBI defines the originator as the original lender or seller of financial assets, such as banks or financial institutions, which transfers receivables to an SPDE.
• On governance norms, SEBI has proposed that RBI-regulated originators should have only one representative on the SPDE board, and such a representative should not have veto powers.
• SEBI has also proposed changes in winding-up provisions of securitisation schemes, allowing appointment of a new trustee instead of liquidation in case of suspension or cancellation of trustee registration.
• These reforms are expected to boost the listed securitisation market, improve regulatory flexibility, and strengthen financial market development in India.

What are Securitised Debt Instruments (SDIs)?

• Securitised Debt Instruments (SDIs) are financial instruments created by pooling debt assets such as loans, receivables, or mortgages and converting them into tradable securities.
• SDIs enable investors to gain exposure to diversified debt portfolios, while providing liquidity to lenders and financial institutions.

Recent News :

• In May 2026, The Securities and Exchange Board of India (SEBI) operationalised the Past Risk and Return Verification Agency (PaRRVA) framework to improve transparency in performance claims made by market intermediaries.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Scheduled Commercial Banks Report Strong Credit Growth of 15.9% in FY 2025–26 Driven by Robust Economic Activity and Credit Demand

• The Financial Year 2025–26 ended with strong year-on-year (y-o-y) non-food credit growth of 15.9%, an increase of 497 basis points (bps) from 10.9% in FY 2024–25.
• The aggregate credit outstanding in March 2026 reached ₹212.9 lakh crore, which is ₹29.2 lakh crore higher than the previous year.
• The growth in credit was supported by a low-interest rate environment, government-led capex cycle, structural reforms, and private sector investment crowding-in, boosting domestic credit demand.

Key Highlights :

• Overall credit growth in FY 2025–26 was broad-based, led by the services sector, followed by personal loans, agriculture, and industry.
• Sector-wise Credit Performance:
• Agriculture and Allied Activities: Credit growth accelerated to 15.7%, up by 528 bps from 10.4% last year, driven by strong rural demand and formalisation of rural credit.
• Industrial Sector: Credit expanded at 15.0%, nearly double the previous year’s 8.2% growth.
• Micro and Small industries recorded a sharp 33.1% growth (3.7 times higher).
• Medium industries grew by 21.7%.
• Key drivers included infrastructure, metals, chemicals, petroleum, coal products, and nuclear fuels.
• Services Sector: Credit grew by 19.0%, compared to 12.0% last year, driven by NBFCs, trade, and commercial real estate, with services contributing 28% of total credit.
• Personal Loans: Grew by 16.2%, higher than 11.7% last year, supported by housing loans, vehicle loans, and gold jewellery loans, and accounting for 33% of total credit share.
• The strong credit growth reflects a resilient Indian economy, increased borrower confidence, and rising investment and consumption demand.
• The Indian economy continues to remain one of the fastest-growing major economies globally, despite geo-political and geo-economic challenges.
• The Indian banking sector remains strong with well-capitalised balance sheets, low NPAs, and sustained profitability, supporting economic growth momentum.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Asian Development Bank Unveils $70 Billion Plan to Link Asia’s Energy and Digital Infrastructure Networks

• The Asian Development Bank launched a USD 70 billion initiative to expand energy and digital infrastructure across Asia-Pacific by 2035.
• The initiative was announced during the 59th Annual Meeting held in Samarkand, Uzbekistan.
• The programme focuses on enhancing connectivity, cross-border power trade, broadband access, and regional resilience.

Key Highlights :

• The initiative includes two major components:
• USD 50 billion Pan-Asia Power Grid Initiative
• USD 20 billion Asia-Pacific Digital Highway
• Under the Pan-Asia Power Grid Initiative, ADB aims to connect national and subregional power systems to enable cross-border renewable energy flow.
• By 2035, the power grid initiative targets: integration of 20 GW renewable energy, 22,000 circuit-km transmission lines, energy access for 200 million people, 840,000 jobs creation, and 15% reduction in power sector emissions.
• The initiative supports transmission infrastructure, substations, grid digitalisation, storage systems, and renewable energy export projects.
• It promotes a shift from bilateral energy links to a regional power trade approach, building on programmes like ASEAN Power Grid and CAREC Energy Strategy 2030.
• The Asia-Pacific Digital Highway aims to mobilise USD 20 billion to develop digital corridors, fibre networks, satellite links, and regional data centres.
• By 2035, it aims to provide first-time broadband access to 200 million people and improve connectivity for 450 million more people.
• The initiative is expected to reduce connectivity costs by 40% in remote areas and generate 4 million jobs.
• ADB will fund at least 50% of the total USD 70 billion, while the rest will come through co-financing and private sector partnerships.
• A Center for AI Innovation and Development will be established in Seoul, South Korea with USD 20 million support from the Government of South Korea.
• The AI centre will promote responsible and inclusive AI adoption and aims to train around 3 million people in digital and AI skills by 2035.

About Asian Development Bank :

• Formation : 19 December 1966
• Headquarters : Philippines
• President : Masato Kanda
• Members : 69 countries

Reserve Bank of India Increases Domestic Gold Holdings by 104.23 Metric Tonnes in Six Months

• The Reserve Bank of India moved 104.23 metric tonnes (MT) of its gold reserves domestically in the six months ended March 2026, reflecting a continued shift toward domestic gold custody.
• The RBI’s total gold holdings increased marginally to 880.52 MT in March 2026, from 880.18 MT in September 2025, as per the half-yearly foreign exchange reserves report.
• In FY 2025–26, the RBI brought a total of 168.06 MT of gold to India, compared to 107.21 MT in 2023–24 and 103.68 MT in 2024–25, showing a rising trend in domestic gold storage.
• Around 77% of RBI’s total gold holdings (680 MT) is now stored within India, strengthening domestic custody of reserves.
• As of March 2026, 197.67 MT of gold was held in safe custody with the Bank of England and Bank for International Settlements (BIS), while 2.80 MT was kept as gold deposits.
• The report highlights a global trend of diversification of gold storage, with countries increasingly shifting toward domestic vaulting and reduced dependence on foreign storage institutions.
• The rise in gold prices increased the share of gold in India’s foreign exchange reserves to 16.7% in March 2026, up from 13.92% earlier.
• The RBI’s foreign currency assets (FCA) and reserve management structure continue to support financial stability, with investments spread across securities, central banks, BIS, and commercial bank deposits.

India’s Goods and Services Tax Revenue Hits Record ₹2.43 Lakh Crore in April, Grows 8.7% year-on-year

• According to government data, India’s gross Goods and Services Tax (GST) revenue reached a record ₹2.43 lakh crore in April, marking an 8.7% year-on-year growth over ₹2.23 lakh crore collected in April last year.
• The growth was primarily driven by import-based GST collections, while domestic sales growth remained relatively slower.
• Goods and Services Tax (GST) was introduced in 2017 through the 101st Constitutional Amendment Act, 2016, as a comprehensive indirect tax for the entire country.
• GST has three components:
• CGST (Central GST) collected by the Centre
• SGST/UTGST collected by States/Union Territories
• IGST (Integrated GST) for inter-state supplies, with revenue settlement to the destination state
• The GST structure includes multiple tax slabs (5%, 12%, 18%, and higher rates for luxury/sin goods) to balance affordability and revenue generation.
• The GST Council (Article 279A) is a constitutional federal body chaired by the Union Finance Minister, and decisions are generally taken through consensus-based mechanisms.
• Recent GST 2.0 reforms aim at simplifying the tax structure, strengthening MSMEs and startups, expanding the tax base, improving compliance, and enhancing fiscal stability and economic growth.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Karnataka Launches Centre of Excellence for Space Technology in Bengaluru

• The Government of Karnataka has launched India’s first state-led Centre of Excellence for Space Technology (CoE SpaceTech Foundation) in Bengaluru, Karnataka.
• The initiative aims to bridge the gap between research and commercialisation in the space sector and strengthen innovation, startup ecosystem, and industry collaboration.

Key Highlights:

• Established by Karnataka Innovation and Technology Society (KITS) in collaboration with SatCom Industry Association of India (SIA-India)
• Focus on advanced space research, industry-oriented training, and talent development
• Supports startup incubation and commercialisation of space technologies
• Applications include agriculture, climate monitoring, disaster management, connectivity, life sciences, and national security
• Signed Memoranda of Understanding (MoUs) with Manipal Academy of Higher Education (MAHE), Helogen Corporation, Dassault Systèmes, and Association of Biotechnology Led Enterprises (ABLE)
• Aims to strengthen research collaboration, space biotechnology, and workforce development
• Promotes public-private partnership in the space sector
• Provides infrastructure support to startups and reduces innovation and development costs
• Enhances India’s position in space technology and commercial space ecosystem

RECENT NEWS

• The State Government of Karnataka has introduced the India’s first digital grievance redressal system for the gig workers. This step will marks the major step towards to protecting the platform-based workers. This initiative enables workers to formally register their complaints related to wages, working conditions and the disputes with digital platforms.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Cell Broadcast System Launched to Strengthen Emergency Communication in India

• Shri Jyotiraditya Scindia, Minister of Communications, launched the Cell Broadcast System (CBS) in New Delhi to enhance India’s emergency communication and disaster management framework.
• The system is an indigenous technology developed by the Centre for Development of Telematics (C-DOT) under the Department of Telecommunications (DoT), in collaboration with the National Disaster Management Authority (NDMA) and the Ministry of Home Affairs (MHA).

Key Highlights:

• Cell Broadcast System (CBS) enables near real-time, geo-targeted emergency alerts to mobile users
• Nationwide test conducted, sending siren-based alert notifications to mobile devices
• Allows location-specific messaging at the level of cell towers or clusters
• Overcomes limitations of Short Message Service (SMS)-based alert systems
• Supports multilingual alerts for wider accessibility across regions
• Provides instant delivery without network congestion or queuing delays
• Alerts appear as priority pop-up messages with loud tones and audio reading on supported devices
• Enhances disaster preparedness, response efficiency, and public safety
• Enables direct official communication, reducing panic and improving public compliance
• Reflects shift from reactive to proactive disaster management approach in India

Padma Doree Initiative Launched to Promote Cross-Regional Textile Integration

• The Northeastern Handicrafts and Handlooms Development Corporation (NEHHDC) under the Ministry of Development of Northeastern Region (MDoNER) launched ‘Padma Doree’, a cross-regional textile initiative combining Eri (Ahimsa) silk of Northeast India with Chanderi weaving of Madhya Pradesh.
• The initiative was unveiled by Sanjay Jaju, Secretary, MDoNER, in line with the vision of Narendra Modi, Prime Minister of India under Ek Bharat Shreshtha Bharat.

Key Highlights:

• Padma Doree integrates Eri silk (Ahimsa silk) with Chanderi handloom craftsmanship
• Promotes sustainable and ethical textile production with innovative design fusion
• Led by NEHHDC with support from MDoNER to strengthen artisan collaboration
• Reflects the vision of Ek Bharat Shreshtha Bharat for cultural integration
• Leadership of Jyotiraditya Scindia, Union Minister, acknowledged in implementation
• Launch featured a fashion showcase and three-day interactive exhibition
• Included live demonstrations by artisans showcasing fibre-to-fabric process
• Focus on building an artisan-centric and sustainable textile ecosystem
• Participation of cultural figures including Muzaffar Ali enhanced visibility
• Aims to promote indigenous crafts in contemporary and global markets

RECENT NEWS

• India’s push for inclusive and technology-driven governance received a major boost as Madhya Pradesh partnered with the Digital India BHASHINI Division. The collaboration focuses on integrating multilingual and voice-based AI solutions into government platforms, ensuring that digital services reach citizens across linguistic and regional boundaries.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav  
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal  
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park.
• Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial Sanctuary, Kuno Wildlife Sanctuary.

Ministry of Health and Family Welfare Launches Fire Safety Week 2026

• The Ministry of Health and Family Welfare (MoHFW) launched Fire Safety Week 2026 from 4–10 May 2026, beginning with a nationwide pledge led by Punya Salila Srivastava, Union Health Secretary.
• The initiative aims to strengthen fire safety standards in healthcare facilities and introduces the National Guidelines on Fire and Life Safety in Healthcare Facilities.

Key Highlights:

• Theme: “Safe Schools, Safe Hospitals, and a Fire-Safety Aware Society: Together for Fire Prevention”
• Nationwide participation involving central ministries, state governments, Union Territories, and healthcare institutions
• Launch of National Guidelines on Fire and Life Safety in Healthcare Facilities providing a comprehensive safety framework
• Covers governance, compliance, risk assessment, infrastructure planning, emergency response, and staff training
• Special focus on high-risk hospital zones such as Intensive Care Units (ICUs), Neonatal Intensive Care Units (NICUs), Pediatric Intensive Care Units (PICUs), and Operation Theatres (OTs)
• Conduct of fire safety audits, mock drills, evacuation exercises, and technical awareness programmes across the country
• Emphasis on real-time preparedness and capacity building for healthcare professionals
• Role of Integrated Health Information Platform (IHIP) for monitoring compliance and reporting
• Support from National Disaster Management Authority (NDMA) for training and regional capacity-building programmes
• Highlights need for proactive fire risk management due to presence of oxygen systems, electrical equipment, and critical patients in hospitals

Hazaribag to Become India’s First Pearl Farming Cluster

• Hazaribag district in Jharkhand is set to become India’s first pearl farming cluster, led by the Fisheries Department with government support.
• The initiative focuses on promoting scientific aquaculture, employment generation, and sustainable rural development, with a special emphasis on women participation.

Key Highlights:

• Hazaribag identified as the first dedicated pearl farming cluster in India due to favourable water resources
• Initiative aims to develop a model hub for pearl cultivation with structured expansion plans
• Promotion of modern pearl farming techniques and capacity building of farmers
• Creation of market linkages to ensure better price realisation and income generation
• Strong focus on women self-help groups, with training and participation in pearl farming activities
• Proposal for formation of an all-women Farmer Producer Organization to boost financial inclusion
• Integration with cage fish culture at Tilaiya Reservoir for diversified income sources
• Encourages scientific utilisation of water bodies and improves aquaculture productivity
• Pearl farming identified as a high-value, low-investment activity with export potential
• Supports rural employment, entrepreneurship, and sustainable livelihood development

RECENT NEWS

• Kalpana Soren MLA from Gandey (Jharkhand) was honored with the Women Empowerment Trailblazer Award at the BRICS CCI WE Summit 2026 in New Delhi. The award recognizes her efforts for promoting women-led development and grassroots empowerment. 

CURRENT AFFAIRS: AWARDS AND HONOURS

Indian Journalists Win Pulitzer Prize 2026 for Reporting on Cyber Fraud

• Indian journalists R. K. Anand and Suparna Sharma have won the Pulitzer Prize 2026 in the Illustrated Reporting and Commentary category for their reporting on cyber fraud and digital surveillance.
• They shared the award with Natalie Obiko Pearson for their collaborative work published in Bloomberg.

Key Highlights:

• The award-winning project is titled “trAPPed”
• The report narrates the story of an Indian neurologist who became a victim of a digital arrest scam
• Combines visual storytelling, data-driven analysis, and investigative reporting
• Exposes how cybercriminals misuse digital platforms and remote manipulation techniques
• Draws attention to the growing threat of cyber fraud, online scams, and digital surveillance
• Highlights the need for stronger cybersecurity awareness and digital safety measures
• The Pulitzer Prize is administered by Columbia University in the United States of America
• It is regarded as one of the highest honours in journalism, literature, and music
• The recognition highlights the increasing importance of investigative journalism in the digital age

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Renowned Lyricist and Communication Expert Prasoon Joshi Appointed Chairman of Prasar Bharati

• The Ministry of Information & Broadcasting has appointed noted lyricist, writer, and communications expert Shri Prasoon Joshi as the Chairman of Prasar Bharati, India’s public service broadcaster.
• Prasoon Joshi is a renowned creative professional known for his contributions in films, advertising, literature, and public communication.
• Prior to this appointment, he served as Chairperson of the Central Board of Film Certification (CBFC) in Mumbai since August 2017, contributing to strengthening film certification processes.
• He also held key roles such as CEO of McCann World Group India and Chairman of McCann World Group Asia Pacific, and has been a Trustee of the Indira Gandhi National Centre for the Arts since 2016.
• Prasar Bharati is a statutory autonomous public service broadcaster established under the Prasar Bharati Act, 1990 and operational since 1997.
• It consists of two major divisions:
• All India Radio (AIR) – one of the largest radio networks globally, broadcasting in multiple languages across India.
• Doordarshan (DD) – India’s national television broadcaster offering news, education, entertainment, and cultural content.
• Prasar Bharati has also launched the Waves OTT platform to strengthen free-to-air digital broadcasting services.
• It plays a key role in public information dissemination, national integration, and cultural preservation across India.

About Ministry of Information & Broadcasting :

• Cabinet Minister : Ashwini Vaishnaw
• Minister of State : L. Murugan

Hindustan Aeronautics Limited Appoints Shri Ravi K. as 22nd Chairman and Managing Director

• Hindustan Aeronautics Limited has appointed Shri Ravi K. as its 22nd Chairman and Managing Director (CMD).
• He succeeds Dr. D.K. Sunil, who retired on 30 April 2026 after attaining superannuation.
• The appointment was made with Government of India approval and due compliance with stock exchange disclosure requirements.

About Shri Ravi K :

• Shri Ravi K. has over 30 years of experience in aerospace, defence manufacturing, electronics, and industrial operations within HAL.
• Before becoming CMD, he served as Director (Operations), HAL, contributing to enhancing operational efficiency and strengthening HAL’s Maharatna performance status.
• He held senior roles including Executive Director (Corporate Planning) and General Manager, Light Combat Aircraft (Tejas) Division.
• He has been closely associated with major indigenous defence programmes such as the Light Combat Aircraft (Tejas) and Light Combat Helicopter (LCH) “Prachand”.
• He also contributed to large-scale production planning and operationalisation of HAL platforms for the Indian Armed Forces.
• As CMD, he will focus on strategic leadership of HAL and expansion of indigenous defence manufacturing capabilities.
• He will oversee execution of key programmes including fighter aircraft, helicopters, and transport aircraft production.

About Hindustan Aeronautics Limited :

• Headquarters : Bengaluru, Karnataka, India
• Owner : Government of India (71%)

City Union Bank Appoints R. Vijay Anandh as Managing Director and Chief Executive Officer

• City Union Bank (CUB) announced a leadership transition, as N. Kamakodi completed his maximum tenure of 15 years as Managing Director & Chief Executive Officer.
• The bank appointed R. Vijay Anandh as the new Managing Director (MD) & Chief Executive Officer (CEO).
• His appointment will be effective from May 1, 2026, for a term of three years.
• R. Vijay Anandh previously served as Executive Director at City Union Bank, having joined as Executive President in 2023 and elevated to ED in 2024.
• He has a total 28 years of experience in retail banking, with expertise in retail credit underwriting, risk management, fraud control, policy formulation, litigation, and debt management.
• He has overseen key banking functions such as advances, MSME and jewel loans, cards business, operations, customer experience, HR, compliance, IT, and analytics.
• Prior to CUB, he worked at RBL Bank as Group Executive Vice President and Retail Assets Head.
• He was among the early employees of RBL Bank (2011) and played a key role in its transformation into a modern private sector bank with strong retail and rural presence.

About City Union Bank (CUB):

• Founded Year: 1904
• Headquarters: Kumbakonam, Tamil Nadu, India
• Slogan: "Trust and Excellence Since 1904"

CURRENT AFFAIRS : DEFENCE NEWS

IG Defence Unveils Indigenous Weapon Systems KAL and JWALA at North Tech Symposium 2026 in Prayagraj

• IG Defence unveiled two indigenous defence systems—KAL and JWALA—at the North Tech Symposium 2026 held in Prayagraj.
• The launch highlights the growing role of the private defence industry in India and supports the Aatmanirbhar Bharat initiative.
• The KAL drone is India’s first long-range one-way attack drone, designed for deep-penetration missions with a strike range of up to 1,000 km.
• It features an endurance of 3–8 hours, a maximum take-off weight of 200 kg, and uses autonomous navigation with optical targeting systems.
• The JWALA missile system is a short-range, rapid-response weapon platform with surface-to-air and surface-to-surface capability.
• JWALA incorporates inertial navigation, terminal guidance systems, and modular launch capability for flexible battlefield deployment.
• Both systems were displayed publicly for the first time and represent next-generation indigenous warfare technologies developed by the private sector.
• Chief of Army Staff General Upendra Dwivedi visited the exhibition and appreciated the indigenous defence innovations.
• The development marks a significant step in strengthening India’s self-reliance in advanced defence technologies and modern warfare systems.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Federal Bank to Acquire 4.5 Lakh Credit Card Portfolio from Standard Chartered Bank India

• Federal Bank is set to acquire a select credit card portfolio from Standard Chartered Bank India comprising around 4.5 lakh credit cards.
• The portfolio has an estimated outstanding value of ₹1,500 crore and is valued at 1.5–1.6 times implied equity.
• The acquisition will increase Federal Bank’s non-co-branded credit card receivables by nearly 90%, strengthening its existing base of 8 lakh non-co-branded cards and 13 lakh co-branded cards.
• The deal will significantly expand Federal Bank’s credit card footprint in India’s top urban markets, with around 75% of the portfolio concentrated in the top 8 cities.
• This acquisition will enhance Federal Bank’s presence in Tier-1 cities and provide access to a high-quality, seasoned customer base.
• The final portfolio size will depend on customer consent and timing of transfer completion.
• The transaction is expected to be completed within calendar year 2026 and does not require regulatory approvals.

About Federal Bank:

• Founded: 1931
• Headquarters: Aluva, Kerala, India
• Managing Director & CEO: KVS Manian
• Tagline: "Your Perfect Banking Partner"

Lakshmi N Mittal Family, Aditya Mittal and Adar Poonawalla to Acquire Stake in Rajasthan Royals

• A consortium led by steel magnate Lakshmi N. Mittal’s family, along with Serum Institute of India CEO Adar Poonawalla, has signed a definitive agreement to acquire the IPL franchise Rajasthan Royals at a valuation of about $1.65 billion.
• After completion, the Mittal family will hold around 75% stake, while Adar Poonawalla will hold about 18% in the franchise.
• The remaining 7% stake will remain with existing investors, including Manoj Badale, who will continue his association with the team.
• The acquisition also includes overseas franchises such as Paarl Royals (South Africa) and Barbados Royals (Caribbean league).
• The deal follows the collapse of an earlier proposed $1.63 billion sale agreement involving a US-based consortium.
• The transaction is subject to approval from the BCCI, IPL Governing Council, and Competition Commission of India (CCI).
• The acquisition is expected to be completed by Q3 2026, marking a major development in global sports franchise ownership expansion.

CURRENT AFFAIRS: RANKING AND INDEX

India Ranked 157th in World Press Freedom Index 2026

• India has been ranked 157th out of 180 countries in the World Press Freedom Index 2026 released by Reporters Without Borders.
• The report indicates that global press freedom has reached its lowest level in 25 years, with more than 50 per cent of countries falling under ‘difficult’ or ‘very serious’ categories.

Key Highlights:

• The World Press Freedom Index is an annual assessment based on political environment, legal framework, economic conditions, social context, and safety of journalists
• India’s rank (157) reflects declining press freedom conditions over the years
• Concerns include weak legal safeguards and increasing restrictions on media
• Highlights rise of “criminalisation of journalism” through misuse of laws and legal pressure
• Globally, over 50 per cent countries fall under ‘difficult’ or ‘very serious’ categories
• Legal indicators declined in over 60 per cent countries
• Journalist protection weakened in around 80 per cent nations
• Indicates a global crisis in media freedom and journalist safety

Rankings (World Press Freedom Index 2026):

Worst Performing Countries:

CURRENT AFFAIRS: MOUS AND AGREEMENT

Reform-Linked Memoranda of Understanding Signed with Uttarakhand, Karnataka and Tripura under Jal Jeevan Mission 2.0

• The Ministry of Jal Shakti signed reform-linked Memoranda of Understanding (MoUs) with the states of Uttarakhand, Karnataka, and Tripura under Jal Jeevan Mission (JJM) 2.0, following approval by the Union Cabinet.
• The MoUs establish a Gram Panchayat-led, service-based and community-centric model for rural water governance to ensure sustainable and regular drinking water supply.

Key Highlights:

• Objective to provide adequate quantity and prescribed quality of drinking water to every rural household on a regular basis
• Focus on community participation (Jan Bhagidari) and strengthening local institutions
• Emphasis on sustainable Operation and Maintenance (O&M) of rural water supply systems
• Aligned with national vision of Viksit Bharat @2047 for long-term water security
• MoUs signed in presence of C. R. Patil, Union Minister of Jal Shakti and V. Somanna, Minister of State
• Uttarakhand achieved around 98 per cent Functional Household Tap Connections (FHTCs) coverage (14.20 lakh out of 14.48 lakh households)
• Karnataka recorded about 87 per cent coverage, addressing challenges as a water-stressed state
• Tripura achieved nearly 86 per cent coverage, improving from about 3 per cent in 2019
• Mandates implementation of Operation and Maintenance policies at Gram Panchayat level with cost responsibility on states
• Introduction of Sujal Gaon Identification (ID), District Technical Units (DTUs), and regular District Water and Sanitation Mission (DWSM) meetings
• Emphasis on data reporting through Jal Jeevan Mission dashboard and certification of village-level plans
• Strengthens role of Village Water and Sanitation Committees (VWSCs) with community involvement
• Focus on retrofitting, infrastructure sustainability, and grievance redressal mechanisms
• Target of achieving 100 per cent Functional Household Tap Connections coverage extended to December 2028
• Aims to improve health, dignity, and quality of life, especially for rural households and women

CURRENT AFFAIRS: IMPORTANT DAYS

World Asthma Day 2026 Observed on First Tuesday of May

• World Asthma Day is observed every year on the first Tuesday of May to raise awareness about asthma, a chronic respiratory disease affecting the lungs. In 2026, it is observed on 5 May 2026.
• The day is organized by the Global Initiative for Asthma (GINA) to promote better understanding, prevention, and management of asthma.

• Theme for 2026: “Access to anti-inflammatory inhalers for everyone with asthma – still an urgent need”
• First observed in 1998 across more than 35 countries
• Aims to spread awareness about symptoms, prevention, and control of asthma
• Asthma causes breathlessness, chest tightness, and persistent coughing
• It is a chronic disease that cannot be completely cured but can be controlled with proper medication
• Focus on improving access to essential inhaler-based treatment
• Encourages early diagnosis and regular medical care
• Highlights the importance of public awareness and healthcare access
• Origin linked to an international meeting held in Barcelona, Spain
• Promotes global efforts to reduce asthma-related health burden

Daily CA One- Liner: May 6

• The Government of Karnataka has launched India’s first state-led Centre of Excellence for Space Technology (CoE SpaceTech Foundation) in Bengaluru, Karnataka
• Shri Jyotiraditya Scindia, Minister of Communications, launched the Cell Broadcast System (CBS) in New Delhi to enhance India’s emergency communication and disaster management framework.
• The Northeastern Handicrafts and Handlooms Development Corporation (NEHHDC) under the Ministry of Development of Northeastern Region (MDoNER) launched ‘Padma Doree’, a cross-regional textile initiative combining Eri (Ahimsa) silk of Northeast India with Chanderi weaving of Madhya Pradesh
• The Ministry of Health and Family Welfare (MoHFW) launched Fire Safety Week 2026 from 4–10 May 2026, beginning with a nationwide pledge led by Punya Salila Srivastava, Union Health Secretary
• Hazaribag district in Jharkhand is set to become India’s first pearl farming cluster, led by the Fisheries Department with government support
• Indian journalists R. K. Anand and Suparna Sharma have won the Pulitzer Prize 2026 in the Illustrated Reporting and Commentary category for their reporting on cyber fraud and digital surveillance
• India has been ranked 157th out of 180 countries in the World Press Freedom Index 2026 released by Reporters Without Borders
• The Ministry of Jal Shakti signed reform-linked Memoranda of Understanding (MoUs) with the states of Uttarakhand, Karnataka, and Tripura under Jal Jeevan Mission (JJM) 2.0, following approval by the Union Cabinet
• World Asthma Day is observed every year on the first Tuesday of May to raise awareness about asthma, a chronic respiratory disease affecting the lungs. In 2026, it is observed on 5 May 2026.
• The Securities and Exchange Board of India (SEBI) has proposed amendments to the Securitised Debt Instruments (SDI) Regulations to align them with the Reserve Bank of India (RBI) guidelines on securitisation of standard assets (SSA).
• The Financial Year 2025–26 ended with strong year-on-year (y-o-y) non-food credit growth of 15.9%, an increase of 497 basis points (bps) from 10.9% in FY 2024–25.
• The Asian Development Bank launched a USD 70 billion initiative to expand energy and digital infrastructure across Asia-Pacific by 2035.
• The Reserve Bank of India moved 104.23 metric tonnes (MT) of its gold reserves domestically in the six months ended March 2026, reflecting a continued shift toward domestic gold custody.
• According to government data, India’s gross Goods and Services Tax (GST) revenue reached a record ₹2.43 lakh crore in April, marking an 8.7% year-on-year growth over ₹2.23 lakh crore collected in April last year.
• The Ministry of Information & Broadcasting has appointed noted lyricist, writer, and communications expert Shri Prasoon Joshi as the Chairman of Prasar Bharati, India’s public service broadcaster.
• Hindustan Aeronautics Limited has appointed Shri Ravi K. as its 22nd Chairman and Managing Director (CMD).
• City Union Bank (CUB) announced a leadership transition, as Kamakodi completed his maximum tenure of 15 years as Managing Director & Chief Executive Officer.
• IG Defence unveiled two indigenous defence systems—KAL and JWALA—at the North Tech Symposium 2026 held in Prayagraj.
• Federal Bank is set to acquire a select credit card portfolio from Standard Chartered Bank India comprising around 4.5 lakh credit cards.
• A consortium led by steel magnate Lakshmi N. Mittal’s family, along with Serum Institute of India CEO Adar Poonawalla, has signed a definitive agreement to acquire the IPL franchise Rajasthan Royals at a valuation of about $1.65 billion.