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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Proposes Major Regulatory Reforms for Online Bond Platform Providers to Strengthen Retail Bond Market Ecosystem

• The Securities and Exchange Board of India (SEBI) has proposed major regulatory reforms for w (OBPPs) to strengthen India’s retail bond market ecosystem.

Key Highlights :

• SEBI aims to allow OBPPs to offer a wider range of debt securities, including government securities and listed debt instruments, beyond current permitted products.
• The regulator has proposed permitting OBPPs to distribute tax-saving bonds under Section 54EC of the Income Tax Act as well as similar provisions in the new Income-tax Act.
• SEBI has also proposed expanding OBPP scope to include products regulated by the International Financial Services Centres Authority (IFSCA), enabling access to overseas-listed debt securities via GIFT-IFSC (Gujarat International Finance Tec-City).
• At present, OBPPs can distribute only instruments regulated by domestic regulators such as SEBI and the Reserve Bank of India (RBI).
• The proposed framework aims to align OBPP operations with stockbrokers permitted in IFSCs, improving regulatory harmonisation.
• SEBI has issued a consultation paper seeking public comments by May 26 on proposals to expand products, simplify compliance, and improve ease of doing business.
• OBPPs currently face ambiguity regarding government-backed bonds exempt from mandatory listing, such as those issued by institutions like Power Finance Corporation Ltd, Indian Railway Finance Corporation Ltd, and REC Ltd.
• SEBI has proposed allowing distribution of these bonds with clear disclosures, including lock-in period, investment limits, tax benefits, and investor risk disclaimers.
• The regulator clarified that investor grievances will lie with the issuer, not SEBI, ensuring clearer accountability.
• SEBI has also proposed changes in compliance officer requirements, suggesting removal of mandatory qualification such as company secretary, aligning norms with stockbroker regulations.

What is an Online Bond Platform Provider?

• OBPPs are SEBI-registered platforms that facilitate buying and selling of bonds, acting as intermediaries for seamless digital bond transactions.
• The minimum investment threshold on OBPPs remains ₹10,000, promoting retail participation in the bond market.

Recent News :

• In May 2026, The Securities and Exchange Board of India (SEBI) introduced a fast-track mechanism for processing Private Placement Memoranda (PPM) of Alternative Investment Funds (AIFs).

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.

Securities and Exchange Board of India Forms ‘Cyber-suraksha.ai’ Task Force to Address AI-Driven Cybersecurity Threats in Financial Markets

• The Securities and Exchange Board of India (SEBI) has constituted a dedicated task force named “Cyber-suraksha.ai” to assess cybersecurity risks arising from advanced Artificial Intelligence (AI) tools and strengthen cyber resilience in financial markets.
• The task force aims to evaluate threats from AI-driven vulnerability identification tools such as Claude Mythos and develop strategies to enhance financial cybersecurity frameworks.

Key Highlights :

• The Cyber Suraksha AI task force will include representatives from Market Infrastructure Institutions (MIIs), Qualified Registrar and Transfer Agents (QRTAs), Regulated Entities (REs), and other key stakeholders.
• Its primary responsibility is to identify and assess AI-based cybersecurity risks and develop a uniform mitigation strategy to address emerging threats.
• The task force will also focus on real-time reporting of cyber incidents, malicious activities, and system vulnerabilities to strengthen regulatory response mechanisms.
• SEBI highlighted that AI-driven tools are increasingly used in financial systems to detect vulnerabilities at high speed and scale, improving cybersecurity efficiency.
• However, the regulator warned that such technologies also pose risks related to data confidentiality, system integrity, and reliability of AI-generated outputs.
• SEBI noted that increasing reliance on automated AI tools may raise exposure to cyber threats and systemic risks in financial ecosystems.
• The advisory recommends periodic risk assessments, including scenario-based cyber threat testing and adoption of secure system configurations.
• It also promotes advanced security frameworks such as Zero Trust architecture models to strengthen cyber defense mechanisms.
• Regulated entities are required to maintain updated inventories of critical systems and software components, including open-source dependencies.
• Any system changes must undergo structured review, testing, and proper documentation to ensure cybersecurity compliance and operational safety.

S&P Global Cuts India’s FY27 Gross Domestic Product Growth Forecast to 6.6%

• S&P Global Market Intelligence and CRISIL Ratings Limited jointly released a report titled “India Forward – Emerging Perspectives”, revising India’s Gross Domestic Product (GDP) growth forecast for FY27 downward by 50 basis points to 6.6% from 7.1%.
• The revision is attributed to disruptions in trade and energy supply chains and rising inflation due to the ongoing West Asia conflict.
• For FY26, India’s GDP growth is estimated at 7.6%, reflecting strong near-term economic performance.
• The report projects India’s average annual GDP growth at 7.3% between FY23 and FY26, indicating sustained medium-term growth momentum.
• Retail inflation is expected to rise to an average of 5.1% in FY26 from around 2% earlier, driven mainly by energy supply disruptions.
• The Current Account Deficit (CAD) is projected to widen from 0.8% of GDP (FY26) to 2.2% (FY27), reflecting external sector pressure.
• India’s debt-to-GDP ratio is expected to increase to 57.5% from 56.1%, moving away from the fiscal consolidation target of 49–51% by FY31.
• The services sector is projected to expand its share in GDP to around 55% by 2030, driven by services-based Free Trade Agreements (FTAs), tourism, and medical tourism growth.

Retail Investors Turn to Reserve Bank of India Retail Direct Platform for Safer Investment and Better Returns

• Retail investors are increasingly shifting towards the Reserve Bank of India (RBI) Retail Direct platform in search of safer and better investment returns in government securities.
• The number of Retail Direct Gilt (RDG) accounts rose by around 64% year-on-year to approximately 3.61 lakh accounts (as of April 27, 2026), compared to 2.20 lakh accounts in the previous year.
• The RBI Retail Direct Scheme, launched in November 2021 (originally announced in February 2021), aims to improve accessibility of government securities for retail investors.
• Under this scheme, investors can open a Retail Direct Gilt (RDG) Account directly with RBI without intermediaries such as banks or brokers.
• The account can be opened in single or joint holding mode, and even non-resident retail investors are eligible under the Foreign Exchange Management Act, 1999 (FEMA).
• There are no fees or charges for opening and maintaining a Retail Direct Gilt Account, with a maximum of two nominees
• The RDG account allows participation in both primary market and secondary market transactions through NDS-OM (Negotiated Dealing System – Order Matching).
• Investors can trade a wide range of government securities, including Government Dated Securities, Treasury Bills, State Development Loans (SDLs), and Sovereign Gold Bonds (SGBs).
• The scheme enables investors to conveniently buy and sell government securities digitally, enhancing ease of investment and liquidity access.
• The minimum investment requirement is ₹10,000, while investors can invest up to ₹2 crore per security.

Bihar Cabinet Clears World Bank Loan of USD 500 Million for Urban Transformation and Infrastructure Development

• The Bihar State Cabinet, chaired by Samrat Choudhary, approved a USD 500 million (₹4,750 crore) loan from the World Bank for the Bihar Urban Transformation Programme.
• The programme aims to strengthen urban governance, improve civic infrastructure, enhance public services, and promote sustainable urban development across major cities and municipalities in Bihar.
• The initiative focuses on developing integrated urban economic zones and improving infrastructure in selected urban centres.
• The World Bank funding will support urban infrastructure upgrades, municipal capacity building, water supply improvements, sanitation projects, and planned urban expansion.
• The project is intended to address the challenges arising from rapid population growth and increasing urban infrastructure demands.
• The Cabinet also approved the transfer of 1.85 acres of land for developmental purposes (specifically for the expansion of Patna airport).
• Bihar approved enhanced subsidy support under the Prime Minister e-Bus Sewa Scheme for operating 400 electric AC buses, promoting green and sustainable urban transport.
• Additionally, the Cabinet sanctioned ₹15,967.03 crore for road monitoring and maintenance projects using Artificial Intelligence (AI)-based technologies.

About World Bank:

• The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects.
• The World Bank consists of 5 institutions: The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID).
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga
• Members:189 countries

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Bengaluru Records Highest Suicide Rate Among Major Indian Cities: National Crime Records Bureau Data

• According to data published by the National Crime Records Bureau (NCRB), Bengaluru has recorded the highest suicide rate among major Indian cities in recent years.
• The suicide rate in Bengaluru remained close to 20 suicides per lakh population during 2022, 2023, and 2024, placing it at the top among mega cities.
• The NCRB report titled Accidental Deaths and Suicides in India (ADSI) provides annual data on suicide cases, accidental deaths, causes of suicides, and demographic patterns across States, Union Territories, and selected cities.
• The National Crime Records Bureau functions under the Ministry of Home Affairs and is responsible for collecting and analysing crime-related data in India.
• Bengaluru reported the following number of suicides:
• 2022: 2,313 cases
• 2023: 2,370 cases
• 2024: 2,403 cases
• Although Delhi recorded a higher total number of suicides at 2,905 cases in 2024, its suicide rate was lower at 9.8 suicides per lakh population due to its larger population size.
• NCRB data indicates that family problems and illness, including mental illness, accounted for nearly half of all suicide cases in India.
• The report also highlighted economic vulnerability, noting that around 66 per cent of suicide victims in 2023 had an annual income of less than ₹1 lakh, indicating a link between financial stress and mental health challenges.
• Common urban factors associated with rising suicide rates include migration-related stress, work pressure, social isolation, rising living costs, weak community support systems, and mental health issues.

RECENT NEWS

• Karnataka Chief Minister Siddaramaiah announced that Bangalore City University will be renamed as Dr. Manmohan Singh Bengaluru University in honor of the late former Prime Minister Manmohan Singh. The government aims to make it a model university, incorporating Government Arts College and Government RC College as constituent colleges.

India Inaugurates Pavilion at 61st International Art Exhibition – La Biennale di Venezia 2026 in Venice, Italy

• India officially opened its Pavilion at the 61st International Art Exhibition – La Biennale di Venezia 2026 in Venice, Italy.
• The Pavilion was inaugurated in the presence of Union Minister for Culture and Tourism Shri Gajendra Singh Shekhawat along with senior international cultural dignitaries.
• The India Pavilion presents the exhibition titled “Geographies of Distance: remembering home”, focusing on themes of memory, migration, belonging, and cultural identity through contemporary Indian art.
• The exhibition is curated by Dr Amin Jaffer and presented by the Ministry of Culture in collaboration with the Nita Mukesh Ambani Cultural Centre and Serendipity Arts.
• The inauguration was attended by key dignitaries including President of La Biennale di Venezia Mr Pietrangelo Buttafuoco, Secretary, Ministry of Culture Shri Vivek Aggarwal, Ambassador of India to Italy H.E. Vani Rao, Smt Nita M Ambani, Smt Isha Ambani, and Shri Sunil Kant Munjal.
• The Pavilion features works by five contemporary Indian artists: Alwar Balasubramaniam, Ranjani Shettar, Sumakshi Singh, Skarma Sonam Tashi, and Asim Waqif.
• Alwar Balasubramaniam presents “Not Just for Us” using clay and soil from Tamil Nadu to explore environmental change and collective memory.
• Ranjani Shettar presents “Under the same sky”, featuring suspended sculptural forms inspired by nature and reflecting belonging and organic expression.
• Sumakshi Singh presents “Permanent Address”, recreating her demolished family home in New Delhi using embroidery to reflect memory, loss, and personal history.
• Skarma Sonam Tashi presents “Echoes of Home” using papier-mâché and Ladakhi architectural references highlighting sustainability and cultural continuity.
• Asim Waqif presents “Chaal”, a bamboo installation inspired by urban scaffolding reflecting urban transformation and social change.
• A special performance programme curated by Serendipity Arts will run from May to November 2026 across Venice, featuring interdisciplinary performances and Indian cultural presentations aligned with the Biennale theme “In Minor Keys”.
• The La Biennale di Venezia (Venice Biennale) is one of the world’s most prestigious international art exhibitions held in Venice, Italy, showcasing global artistic and cultural expressions.
• India’s participation strengthens cultural diplomacy, global artistic engagement, promotion of contemporary Indian art, and international cultural exchange, while showcasing India’s evolving artistic narratives rooted in tradition and modernity.

RECENT NEWS

• Italy has conferred one of its highest civilian distinctions, the Cavaliere dell’Ordine della Stella d’Italia, on eminent Goa-based industrialist Shrinivas Dempo. The award acknowledges his long-standing contribution to supporting Italian citizens in India and his role in promoting bilateral cooperation between India and Italy across business, cultural and community domains. 

Union Minister Mansukh Mandaviya Launches Nationwide Free Annual Health Check-Up Initiative for Workers Under New Labour Codes

• Union Minister for Labour and Employment Dr. Mansukh Mandaviya launched a nationwide free annual health check-up initiative for workers aged 40 years and above under the new Labour Codes.
• The initiative was launched at the Employees’ State Insurance Corporation Medical College and Hospital, Basaidarapur, New Delhi.
• The programme is being implemented through the Employees’ State Insurance Corporation (ESIC) network across India to strengthen occupational healthcare and social security coverage.
• Under the initiative, workers aged 40 years and above will receive free annual health screenings through ESIC hospitals and healthcare facilities.
• The focus of the programme is on preventive healthcare, early disease detection, and long-term health monitoring of workers.
• Workers engaged in hazardous industries such as chemical handling and high-risk operations will receive mandatory medical check-ups irrespective of age.
• The initiative is part of the implementation of the four Labour Codes, aimed at strengthening labour reforms in India.
• The Labour Codes focus on expanding social security coverage, simplifying labour laws, improving worker welfare, and increasing formalisation of employment.
• The Code on Social Security, 2020 also includes provisions for gig and platform workers under the social security framework.
• According to the Union Minister, India’s social security coverage has increased from 19 per cent to 64 per cent, covering nearly 94 crore people.
• The number of Employees’ State Insurance Corporation beneficiaries has increased from around 7 crore to nearly 15 crore people.
• India is among the first countries to extend social security coverage to gig and platform workers under labour reforms.
• The Employees’ State Insurance Corporation (ESIC) will play a key role in implementing the initiative through its hospitals, dispensaries, and empanelled healthcare facilities.
• Services under ESIC will include annual health screenings, treatment support, medicines, and long-term health monitoring.
• The Government of India has consolidated 29 central labour laws into four Labour Codes, namely the Code on Wages, Industrial Relations Code, Occupational Safety, Health and Working Conditions Code, and Code on Social Security.

India to Host BRICS Agriculture Ministers’ Meeting 2026 in Indore Focused on Food Security and Smart Farming

• India will host the BRICS Agriculture Ministers’ Meeting 2026 in Indore, Madhya Pradesh under its BRICS Presidency.
• The two-day meeting is scheduled to be held in June 2026 and will bring together agriculture ministers from BRICS member countries.
• The BRICS grouping includes Brazil, Russia, India, China, and South Africa, which together represent a significant share of global population, agricultural output, and emerging economies.
• The meeting will focus on major global agricultural issues, including food security, sustainable farming, climate-resilient agriculture, and agricultural trade cooperation.
• Key discussion areas will include artificial intelligence in agriculture, machine learning applications, precision farming, and digital agriculture systems to improve productivity and resource efficiency.
• Climate-related challenges such as drought-resistant farming, sustainable irrigation systems, climate adaptation strategies, and disaster-resilient agriculture will also be discussed.
• The meeting will further focus on strengthening international agricultural trade, export opportunities, market access, and supply chain resilience among member nations.
• India’s hosting of the meeting reflects its growing role in global agricultural cooperation and policy dialogue under the BRICS framework.
• Indore was chosen as the venue due to its strong infrastructure, cleanliness ranking, smart city initiatives, and importance in agricultural trade and food processing industries.
• The event is significant for India as agriculture plays a key role in the national economy, and it provides an opportunity to showcase agricultural innovation, digital farming practices, and farmer welfare initiatives on a global platform.

About BRICS

• BRICS is an influential intergovernmental organization and economic bloc comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, UAE, and Indonesia. It fosters cooperation on trade, technology, and global governance, representing over 40% of the world's population. India holds the chair for 2026, focusing on MSMEs and sustainable development.

All India Ophthalmological Society – Armed Forces Ophthalmic Update 2026 Conference to be Held at Manekshaw Centre, Delhi Cantonment

• The All-India Ophthalmological Society – Armed Forces Ophthalmic Update 2026 Conference (AIOS–AFOU 2026) will be held at the Manekshaw Centre, Delhi Cantonment.
• The event is jointly organised by the Army Hospital (Research and Referral) and the All-India Ophthalmological Society.
• The conference will witness participation of the Chief of Defence Staff, three Service Chiefs, Defence Secretary, and senior defence and medical officials, highlighting its tri-service and national importance.
• More than 100 eminent faculty members from leading medical institutions and nearly 200 ophthalmologists across India will participate in the event.
• Major participating institutions include the All India Institute of Medical Sciences New Delhi, Postgraduate Institute of Medical Education and Research, L V Prasad Eye Institute, Sankara Nethralaya, and Aravind Eye Care System.
• International experts will also participate, including Professor Harminder Singh Dua, Chair and Professor of Ophthalmology at the University of Nottingham, United Kingdom, known for discovering Dua’s Layer in corneal anatomy.
• Another expert is Dr Colin Siang Hui Tan, Senior Consultant Ophthalmologist at Tan Tock Seng Hospital, Singapore, known for expertise in retinal imaging, diabetic retinopathy, and artificial intelligence-based ophthalmic diagnostics.
• The conference will focus on advancements in eye research and innovation, retinal imaging, artificial intelligence in ophthalmology, diabetic retinopathy, corneal diseases, ocular injuries, advanced diagnostics, and military ophthalmology.
• The event aims to promote medical innovation, military–civil healthcare cooperation, capacity building of young ophthalmologists, and global knowledge exchange in eye care.
• The conference is expected to strengthen ophthalmology research, academic collaboration, and healthcare innovation in India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

IndiaAI and Indian Council of Medical Research Sign Memorandum of Understanding to Advance Artificial Intelligence-Based Healthcare Innovation

• IndiaAI, the Government of India’s flagship Artificial Intelligence initiative under the Ministry of Electronics and Information Technology, has signed a Memorandum of Understanding (MoU) with the Indian Council of Medical Research (ICMR) to strengthen Artificial Intelligence-based healthcare innovation in India.
• The partnership aims to combine IndiaAI’s digital infrastructure and Artificial Intelligence ecosystem with ICMR’s expertise in biomedical and public health research to develop ethical and scalable healthcare solutions.
• Under the agreement, ICMR will provide anonymised and ethics-approved biomedical datasets, Artificial Intelligence models, and toolkits developed under its Medical Information Data for Artificial Intelligence Solutions framework to the AIKosh platform.
• The AIKosh platform will enable researchers, startups, and innovators to access high-quality biomedical datasets for developing Artificial Intelligence-based healthcare applications and public health solutions.
• The collaboration will also provide subsidised access to Graphics Processing Unit-based and high-performance computing infrastructure to ICMR through IndiaAI.
• The initiative aims to accelerate research in areas such as disease prediction, medical imaging, drug discovery, and healthcare analytics.
• Both organisations will jointly develop Artificial Intelligence-based healthcare solutions focused on major public health challenges in India using ICMR’s disease burden data and IndiaAI’s technology ecosystem.
• The Medical Information Data for Artificial Intelligence Solutions framework ensures ethical use of medical data, data privacy protection, responsible Artificial Intelligence research standards, and improved interoperability in healthcare systems.
• The partnership builds on earlier collaboration between IndiaAI and ICMR’s National Institute for Research in Digital Health and Data Sciences, which was recognised under the Health Artificial Intelligence Global Regulatory Network initiative in partnership with the United Kingdom and Singapore.
• The collaboration also aligns with India’s focus on developing a responsible Artificial Intelligence governance framework in healthcare and strengthening global cooperation in Artificial Intelligence regulation.
• The initiative is significant as it addresses key challenges such as limited healthcare datasets, computing infrastructure constraints, and data privacy concerns in Artificial Intelligence-driven medical research.
• It is expected to create a trusted Artificial Intelligence healthcare ecosystem, promote innovation, and enhance India’s position in global responsible Artificial Intelligence healthcare research and development.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Kumar Mangalam Birla Appointed as Non-Executive Chairman of Vodafone Idea

• Kumar Mangalam Birla has been appointed as the Non-Executive Chairman of Vodafone Idea.
• The company’s board accepted the resignation of the outgoing chairman Ravinder Takkar, who will continue as a Non-Executive Director and also serve as Non-Executive Vice Chairman.
• Kumar Mangalam Birla had previously served as Chairman of Vodafone Idea from August 2018 to 2021, stepping down during a period of financial stress in the company.
• He is currently associated with the Aditya Birla Group and has returned to a key leadership role in the telecom company amid ongoing debt challenges.
• Vodafone Idea is a major Indian telecom operator headquartered in Gandhinagar, offering pan-India GSM mobile services.
• Birla rejoined the board in April 2023 as a non-executive and non-independent additional director before being elevated to Chairman.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation and Indian Air Force Successfully Carry Out Maiden Flight Trial of Tactical Advanced Range Augmentation Weapon System

• Defence Research and Development Organisation (DRDO) and the Indian Air Force (IAF) successfully conducted the maiden flight-trial of the Tactical Advanced Range Augmentation (TARA) weapon on 07 May 2026 off the coast of Odisha.
• TARA is India’s first indigenous glide weapon system designed to convert unguided warheads into precision-guided weapons.
• The system has been designed and developed by Research Centre Imarat (RCI Hyderabad) along with other DRDO laboratories.
• The weapon system is aimed at enhancing the accuracy, lethality, and operational capability of low-cost weapons against ground-based targets.
• TARA is the first glide weapon in India to utilise state-of-the-art low-cost guidance and augmentation systems.
• The project has been developed in collaboration with Development-cum-Production Partners (DcPPs) and other Indian defence industries.
• Production activities for the system have already commenced, supporting indigenous defence manufacturing and Aatmanirbhar Bharat

Recent News :

• In May 2026, Defence Research and Development Organisation (DRDO) inaugurated the Chemical, Biological, Radiological and Nuclear (CBRN) Field Training and Demonstration Centre at Burari Plains, Delhi.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Dr. Samir V. Kamat

India’s First International Ophthalmology Research Conference to be Inaugurated by Raksha Rajya Mantri in New Delhi

• The Department of Ophthalmology, Army Hospital (Research & Referral), New Delhi, in collaboration with the All India Ophthalmological Society, will host India’s first International Ophthalmology Research Conference on 09–10 May 2026 at the Manekshaw Centre.
• The two-day conference is titled AIOS-AFOU 2026 (All-India Ophthalmological Society – Armed Forces Ophthalmology Update 2026).
• The event will be inaugurated by Sanjay Seth (Raksha Rajya Mantri).
• The conference will witness the presence of the Chief of Defence Staff (CDS), the three Service Chiefs, and the Defence Secretary, highlighting its national importance and Tri-service character.
• Around 200 leading ophthalmologists and military eye specialists from across India will participate in the event.
• More than 100 distinguished faculty members from premier institutions such as AIIMS New Delhi, PGIMER, L V Prasad Eye Institute, Sankara Nethralaya, and Aravind Eye Care System will attend the conference.
• Internationally renowned ophthalmologists Harminder Singh Dua and Colin Siang Hui Tan will also participate in the programme.
• Harminder Singh Dua is globally known for discovering the “Dua’s Layer” in corneal anatomy and for pioneering research in chemical ocular injuries.
• Dr. Colin Siang Hui Tan is recognised for expertise in retinal imaging, diabetic retinopathy, and AI-driven ophthalmic diagnostics.
• The conference aims to provide a learning platform for young serving ophthalmologists, encouraging research, innovation, and professional skill development.
• The event will strengthen civil-military cooperation in ophthalmology and promote collaboration in advanced eye-care research and clinical practice.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Ministry of Earth Sciences Secretary Dr. M. Ravichandran Inaugurates India’s First Urban Testbed and Aerosol Observatory in Chennai

• The Ministry of Earth Sciences (MoES), through its autonomous institute Indian Institute of Tropical Meteorology (IITM), has established India’s first comprehensive Urban Testbed and Aerosol Observatory along with the Centre for Atmospheric Science Research and Innovation (CASRI) at SRM Institute of Science and Technology (SRMIST) in Chennai.
• The facilities were inaugurated by Ravichandran, marking a major advancement in urban atmospheric research and climate science infrastructure.

Key Highlights :

• The observatory aims to enhance weather forecasting accuracy, monsoon prediction, urban flood prediction, severe weather nowcasting, and disaster mitigation systems.
• It also supports climate resilience, climate adaptation planning, and smart urban infrastructure development under India’s scientific advancement goals.
• Built with an investment of over ₹60 crore, the facility houses around 15 advanced instruments and monitors nearly 50 atmospheric parameters including temperature, wind flow, aerosols, and weather patterns.
• The project plans to deploy about 100 Automatic Weather Stations (AWS) across urban and suburban transition zones for real-time atmospheric monitoring.
• The observatory will also include advanced systems like X-band radar, phased array radar, aerosol monitoring units, wind profilers, lidars, sodars, and radiometers for comprehensive atmospheric analysis.
• The initiative is part of Mission Mausam (launched in September 2024), a flagship programme aimed at modernising weather forecasting and climate services in India.
• Mission Mausam focuses on improving monsoon prediction, disaster preparedness, and early warning systems for extreme weather events.
• It supports key sectors such as agriculture, water resources, aviation, energy, and disaster management, contributing to a weather-ready and climate-smart India.
• The observatory will improve understanding of aerosol behaviour, sea-land breeze dynamics, cloud formation, and atmospheric particle characteristics.
• The project will also help generate short-term weather data and long-term climate insights, especially related to global warming and urban climate impacts.
• A Memorandum of Understanding (MoU) was also signed between IITM Pune and SRMIST Chennai to strengthen academic and research collaboration in atmospheric sciences.

Indian Institute of Technology Madras Establishes First International Centre in USA to Strengthen Deep-Tech Innovation and Startups

• The Indian Institute of Technology Madras (IIT Madras) Global Research Foundation has announced its first international centre in Menlo Park, expanding India’s deep-tech innovation presence into global ecosystems.
• The announcement was made during the SelectUSA Investment Summit held at National Harbor, United States.
• The IITM Centre is designed to act as a launchpad for Indian deep-tech startups, enabling access to global capital, markets, mentorship, and strategic partnerships.
• The centre will be developed with a total investment of USD 7.5 million, including a USD 4.5 million greenfield investment from the IITM Global Research Foundation.
• It will focus on deep-tech research, technology commercialisation, startup incubation, global market access, and industry–academia collaboration.
• The initiative aims to strengthen innovation scaling and venture engagement for high-potential deep-tech startups.
• The strategic location near Silicon Valley will help Indian startups connect with the global technology ecosystem and investors.
• IIT Madras Global also announced plans to establish a second centre on the US East Coast, expanding its presence across major innovation hubs in the United States.
• The East Coast centre will connect with policy, financial, and academic ecosystems to build a stronger US innovation network presence.
• The IIT Madras Global delegation also met Vinay Mohan Kwatra, strengthening India–US collaboration in deep-tech innovation and startup ecosystems.

Recent News :

• In April 2026, The Indian Institute of Technology Madras (IIT Madras) introduced OmegaBall, a three-team football format, marking its first-ever entry into India.

Skyroot Aerospace Becomes India’s First Space-Tech Unicorn After Raising USD 60 Million

• Skyroot Aerospace, a private Indian space launch startup, has become India’s first space-tech unicorn after raising USD 60 million (₹570 crore).
• With this funding, the company’s valuation has reached USD 1.1 billion, nearly double its 2023 valuation of USD 550 million.
• The startup’s total funding has now crossed USD 160 million (₹1,500 crore), marking a major milestone in India’s private space sector growth.
• Skyroot Aerospace became the fourth Indian startup to enter the unicorn club in 2026, after KreditBee, Neysa, and Juspay.
• The latest funding round was co-led by Sherpalo Ventures (Ram Shriram) and GIC Private Limited.
• The funds will be used to accelerate development of launch vehicles such as Vikram-1, based on the success of Vikram-S (India’s first private rocket launched in 2022).
• Vikram-1 is designed to place satellites into low Earth orbit (LEO) and can carry payloads of up to 350 kg, making it a significant upgrade over earlier missions.
• The rocket incorporates advanced technologies such as in-house propulsion systems, engines, and 3D-printed components.
• Skyroot was founded by former Indian Space Research Organisation (ISRO) scientists Pawan Kumar Chandana and Naga Bharath Daka.
• The company was among the first private players to gain access to ISRO facilities and technical support after India opened the space sector to private companies in 2020.
• Skyroot is also developing Vikram-2, a heavier launch vehicle for larger payload capacity missions.

CURRENT AFFAIRS : OBITUARIES

CNN Founder and Media Mogul Ted Turner (Robert Edward Turner III) Passed Away at 87

• Ted Turner, media mogul, philanthropist, and founder of CNN, passed away at the age of 87 in Atlanta.

About Ted Turner :

• He was born on 19 November 1938 in Cincinnati.
• Ted Turner’s full name was Robert Edward Turner III, and he is regarded as a pioneer in global television broadcasting and 24-hour news media.
• He revolutionized broadcast journalism by launching CNN in 1980 as the world’s first 24-hour continuous news channel, introducing the concept of real-time global news coverage.
• Turner transformed a struggling local TV station into the Turner Broadcasting System (TBS) and pioneered the “superstation” satellite broadcasting model.
• He acquired Atlanta’s independent station WJRJ Channel 17 in 1970, which later became the foundation of his media empire.
• His media expansion included launching networks such as Turner Network Television (TNT), Cartoon Network, and Turner Classic Movies (TCM).
• In 1996, Turner sold his media empire to Time Warner.
• Ted Turner received several prestigious honours, including Time Magazine’s “Man of the Year” (1991), induction into the Television Academy Hall of Fame (1992), and a Hollywood Walk of Fame star in 2004.
• He also received Lifetime Achievement Emmy Awards for Sports (2014) and News & Documentary (2015).
• As a philanthropist, Ted Turner donated around USD 1 billion to United Nations initiatives and founded the United Nations Foundation.
• He actively supported causes related to environmental conservation, global peace, and nuclear disarmament.

CURRENT AFFAIRS: SPORTS NEWS

Apaar Saxena Earns International Master Title in Chess After Strong European Performances

• Indian chess player Apaar Saxena has been awarded the prestigious International Master (IM) title by the Fédération Internationale des Échecs (FIDE).
• He achieved the title after securing all three required International Master norms through consistent performances in European chess tournaments.
• Apaar Saxena is from Karnataka and reached the milestone by performing strongly against high-rated international opponents.
• He successfully completed the requirement of three IM norms along with the necessary rating benchmark through international tournament performances.
• The International Master title is awarded by the Fédération Internationale des Échecs (FIDE) and is considered one of the highest chess titles after the Grandmaster title.
• To obtain the International Master title, a player must achieve three International Master norms and reach a FIDE rating of 2400 at some stage, along with strong performances in international tournaments.
• Karnataka has emerged as an important centre for chess development in India, producing several talented players over the years.
• Apaar Saxena’s achievement adds to India’s growing presence in global chess and highlights the country’s increasing dominance in the sport.

About Fédération Internationale des Échecs (International Chess Federation).

• Established: July 20, 1924, in Paris, France.
• Headquarters: Lausanne, Switzerland.

International Olympic Committee Lifts Restrictions on Belarusian Athletes Ahead of Los Angeles 2028 Summer Olympics

• The International Olympic Committee (IOC) has lifted restrictions on Belarusian athletes ahead of the Los Angeles 2028 Summer Olympics, while Russia continues to remain under suspension.
• The IOC announced that it will no longer recommend restrictions on Belarusian athletes and teams in international competitions.
• Belarusian athletes will be allowed to participate in the Los Angeles 2028 Summer Olympics, including opening ceremonies and medal events.
• The IOC stated that athletes should not face restrictions for actions taken by governments.
• The Russian Olympic Committee (ROC) remains suspended after its suspension in 2023.
• Russian athletes are allowed to compete only as Individual Neutral Athletes under strict conditions.
• Russian athletes must compete without national flag, anthem, or symbols and only as individual participants.
• Russia’s suspension is linked to its decision to place sports organisations from occupied Ukrainian regions under its authority.
• Concerns over Russia’s anti-doping compliance system also contributed to continued restrictions.
• The World Anti-Doping Agency (WADA) is reviewing allegations related to Russian sports governance and doping compliance.
• After the Russia–Ukraine conflict in 2022, Russian and Belarusian athletes were largely banned from international competitions.
• Later, some athletes participated as Individual Neutral Athletes in the Paris 2024 Olympic Games and Milan-Cortina Winter Olympics 2026.
• Despite IOC’s decision, World Athletics has continued its ban on Russian and Belarusian athletes.
• World Athletics stated that restrictions will remain until meaningful progress toward peace negotiations is achieved.
• Some sports federations such as judo and swimming have already relaxed restrictions, while athletics continues the ban.
• The decision is significant as it impacts Olympic qualification pathways, international sports diplomacy, athlete participation rights, and global sporting governance.

About IOC

• The International Olympic Committee (IOC) is a non-profit, non-governmental international organization founded on June 23, 1894, in Paris, France. It is the supreme authority responsible for organizing the modern Olympic Games.

CURRENT AFFAIRS: IMPORTANT DAYS

Victory Day 2026 Celebrated on May 9 in Russia Commemorating End of Second World War in Europe

• Victory Day is observed every year on May 9 as one of the most significant national holidays in Russia, marking the surrender of Nazi Germany in 1945 during the Second World War.
• The day commemorates the signing of the German Instrument of Surrender in Berlin, which led to the end of the war in Europe.
• Victory Day was first observed across the 15 Republics of the former Union of Soviet Socialist Republics (USSR) following the declaration of victory after the Second World War.
• After the signing ceremony in Berlin, the Soviet government officially declared the day as a national holiday to honour the victory over Nazi Germany.
• The Russian government officially designated May 9 as Victory Day in 1991, following the dissolution of the Soviet Union.
• Victory Day is celebrated as one of the grandest national events in Russia, featuring military parades, remembrance ceremonies, and tributes to war veterans.
• The day holds strong historical significance as it symbolises the Soviet Union’s role in defeating Nazi Germany in the Second World War.
• While Russia and several post-Soviet states observe Victory Day on May 9, many countries in Western Europe commemorate the end of the war on May 8, known as Victory in Europe Day.
• Victory Day continues to be a major national observance in Russia, representing themes of national pride, sacrifice, and historical remembrance of the Second World War.

Daily CA One- Liner: May 9

• According to data published by the National Crime Records Bureau (NCRB), Bengaluru has recorded the highest suicide rate among major Indian cities in recent years
• India officially opened its Pavilion at the 61st International Art Exhibition – La Biennale di Venezia 2026 in Venice, Italy
• Union Minister for Labour and Employment Mansukh Mandaviya launched a nationwide free annual health check-up initiative for workers aged 40 years and above under the new Labour Codes
• India will host the BRICS Agriculture Ministers’ Meeting 2026 in Indore, Madhya Pradesh under its BRICS Presidency
• The All-India Ophthalmological Society – Armed Forces Ophthalmic Update 2026 Conference (AIOS–AFOU 2026) will be held at the Manekshaw Centre, Delhi Cantonment
• IndiaAI, the Government of India’s flagship Artificial Intelligence initiative under the Ministry of Electronics and Information Technology, has signed a Memorandum of Understanding (MoU) with the Indian Council of Medical Research (ICMR) to strengthen Artificial Intelligence-based healthcare innovation in India
• Indian chess player Apaar Saxena has been awarded the prestigious International Master (IM) title by the Fédération Internationale des Échecs
• The International Olympic Committee (IOC) has lifted restrictions on Belarusian athletes ahead of the Los Angeles 2028 Summer Olympics, while Russia continues to remain under suspension
• Victory Day is observed every year on May 9 as one of the most significant national holidays in Russia, marking the surrender of Nazi Germany in 1945 during the Second World War.
• The Securities and Exchange Board of India (SEBI) has proposed major regulatory reforms for w (OBPPs) to strengthen India’s retail bond market ecosystem.
• The Securities and Exchange Board of India (SEBI) has constituted a dedicated task force named “Cyber-suraksha.ai” to assess cybersecurity risks arising from advanced Artificial Intelligence (AI) tools and strengthen cyber resilience in financial markets.
• S&P Global Market Intelligence and CRISIL Ratings Limited jointly released a report titled “India Forward – Emerging Perspectives”, revising India’s Gross Domestic Product (GDP) growth forecast for FY27 downward by 50 basis points to 6% from 7.1%.
• Retail investors are increasingly shifting towards the Reserve Bank of India (RBI) Retail Direct platform in search of safer and better investment returns in government securities.
• The Bihar State Cabinet, chaired by Samrat Choudhary, approved a USD 500 million (₹4,750 crore) loan from the World Bank for the Bihar Urban Transformation Programme.
• Kumar Mangalam Birla has been appointed as the Non-Executive Chairman of Vodafone Idea.
• Defence Research and Development Organisation (DRDO) and the Indian Air Force (IAF) successfully conducted the maiden flight-trial of the Tactical Advanced Range Augmentation (TARA) weapon on 07 May 2026 off the coast of Odisha.
• The Department of Ophthalmology, Army Hospital (Research & Referral), New Delhi, in collaboration with the All India Ophthalmological Society, will host India’s first International Ophthalmology Research Conference on 09–10 May 2026 at the Manekshaw Centre.
• The Ministry of Earth Sciences (MoES), through its autonomous institute Indian Institute of Tropical Meteorology (IITM), has established India’s first comprehensive Urban Testbed and Aerosol Observatory along with the Centre for Atmospheric Science Research and Innovation (CASRI) at SRM Institute of Science and Technology (SRMIST) in Chennai.
• The Indian Institute of Technology Madras (IIT Madras) Global Research Foundation has announced its first international centre in Menlo Park, expanding India’s deep-tech innovation presence into global ecosystems.
• Skyroot Aerospace, a private Indian space launch startup, has become India’s first space-tech unicorn after raising USD 60 million (₹570 crore).
• Ted Turner, media mogul, philanthropist, and founder of CNN, passed away at the age of 87 in Atlanta.