Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs May 2026 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs 10th & 11th  May 2026, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs 10th & 11th May 2026 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

Daily Current Affairs PDF of 10th & 11th May 2026

Get More: Static GK Pdfs

CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Three Jan Suraksha Schemes (Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana) complete 11 years of delivering social security cover

• The three Jan Suraksha Schemes — Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY) — have completed 11 years of implementation.
• The Jan Suraksha Schemes were launched on 9 May 2015 by Prime Minister Narendra Modi to provide affordable insurance and pension security to citizens, especially the underserved and vulnerable sections of society.
• The three flagship schemes are PMJJBY (life insurance), PMSBY (accident insurance), and APY (pension scheme), aimed at strengthening financial inclusion, social security, and long-term financial resilience.
• Union Finance Minister Nirmala Sitharaman highlighted that the schemes provide low-cost insurance and pension benefits to citizens across India.
• Combined enrolments stand at PMJJBY – 27+ crore, PMSBY – 58+ crore, and APY – 9 crore, showing massive social security penetration.
• PMJJBY has settled claims worth ₹21,500+ crore for over 10.7 lakh families, while PMSBY has settled ₹3,660 crore for over 1.84 lakh families.

Key Highlights :

1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

• PMJJBY provides life insurance cover for death due to any cause at a premium of less than ₹2 per day, ensuring affordable protection.
• It is a one-year renewable insurance scheme implemented through LIC and other insurance companies, linked with banks and post offices.
• Eligibility: Bank/post office account holders aged 18–50 years with auto-debit consent, limited to one account per individual.
• Annual premium is ₹436, deducted via auto-debit, with pro-rata payment options for delayed enrolment.
• Benefit: ₹2 lakh insurance payout is provided with a 30-day lien period after enrolment.
• As of 29.04.2026, PMJJBY recorded 27.43 crore enrolments and claims worth ₹21,512.50 crore for 10,75,625 claims, including 12.72 crore female beneficiaries.

2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• PMSBY provides accident insurance coverage at a very low premium to ensure financial protection against accidental death and disability.
• It focuses on strengthening social security for economically weaker sections through affordable coverage.
• The scheme has achieved 58 crore+ enrolments, making it one of the world’s largest accident insurance schemes.
• Claims worth around ₹3,660 crore have been settled for 1.84 lakh families, ensuring financial relief during emergencies.

3. Atal Pension Yojana (APY)

• APY aims to build a universal pension system for workers in the unorganised sector, especially the poor and underprivileged.
• It is administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension System (NPS)
• Eligibility: 18–40 years bank account holders who are non-income tax payers.
• Provides a guaranteed monthly pension of ₹1,000 to ₹5,000 after age 60, based on contributions.
• Ensures financial security for spouse and nominee, with pension continuation or corpus return in case of death.
• Contributions can be made on a monthly, quarterly, or half-yearly basis, with provisions for voluntary exit under conditions.

About Ministry of Finance:

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

Securities and Exchange Board of India Withdraws Investor Risk Reduction Access Platform for Stock Brokers

• The Securities and Exchange Board of India (SEBI) has discontinued the Investor Risk Reduction Access (IRRA) platform for stock brokers with immediate effect.
• The IRRA platform was launched on 01 October 2023 to provide brokers with an alternative trading access point during disruptions in trading services.
• SEBI stated that the platform has become structurally redundant due to major improvements in business continuity systems, cyber resilience mechanisms, and technological infrastructure in the securities market.
• The regulator highlighted that stock brokers now have the capability for seamless transition between primary and alternate sites during disruptions, supported by advanced business continuity and disaster recovery systems.
• SEBI also noted the emergence of independent cold sites for ensuring uninterrupted trading operations during technical failures or cyber incidents.
• Stock exchanges already provide a Contingency Pool Trading facility, which allows brokers to square off client positions during system disruptions through dedicated exchange-connected terminals.
• According to SEBI, the IRRA platform was never used by stock brokers since its inception, leading to the decision to discontinue the facility.
• The regulator has advised stock exchanges to review and further strengthen the Contingency Pool Trading framework to ensure robust market operations during emergencies.

Recent News :

• In May 2026, The SEBI proposed a new framework for calculating net worth requirements of stockbrokers, aimed at strengthening capital adequacy norms and investor protection.

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.

Department of Financial Services Insurance Division Secures First Position in Group A Category of Grievance Redressal Assessment and Index Rankings for March 2026

• The Department of Financial Services (DFS) receives more than 2.5 lakh grievances annually and has consistently ranked among the top 10 ministries/departments in the Grievance Redressal Assessment and Index (GRAI) since November 2025, reflecting strong administrative responsiveness.
• In March 2026, the Insurance Division secured the top position in Group A category of GRAI, while the Banking Division retained 5th position for the second consecutive month, indicating sustained performance.
• The GRAI framework, developed by the Department of Administrative Reforms and Public Grievances (DARPG), evaluates ministries on effectiveness and timeliness of grievance redressal through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
• The improved performance is driven by timely disposal of grievances, reduction in pending cases, and enhanced quality of resolution, strengthening public trust in the grievance system.
• The department follows a structured mechanism involving a dedicated Grievance Redressal Cell, daily CPGRAMS monitoring, weekly senior-level reviews, and monthly scrutiny of complaints by top officials to ensure accountability and efficiency.

Recent News :

• In May 2026, The Department of Financial Services approved Viability Plan 2.0 for Regional Rural Banks (RRBs) to strengthen financial stability, governance reforms, and operational efficiency.

Ministry of Finance launches performance-based framework under Special Assistance for State Capital Investment scheme to promote fiscal discipline among states

• The Ministry of Finance has introduced a performance-based framework under the Special Assistance for State Capital Investment (SASCI) Scheme to reward states showing stronger fiscal discipline.
• States demonstrating prudent debt management, adherence to borrowing schedules, and complete disclosure of off-budget liabilities will receive priority access to a ₹3,000 crore incentive pool.
• The new assessment framework gives 50% weightage to debt management, 30% weightage to borrowing discipline, and 20% weightage to fiscal transparency.
• States are required to prepare a Medium-Term Debt Strategy (MTDS) in consultation with the Reserve Bank of India (RBI).
• The MTDS must receive Cabinet approval and be published by 15 December 2026.
• Under the borrowing discipline norms, quarterly borrowing deviations should remain within 10% of the approved schedule.
• The guidelines also specify that fourth-quarter borrowing must not exceed 30% of annual borrowing.
• The framework categorises states based on size for incentive allocation under the SASCI Scheme.
• Larger states are eligible for incentives up to ₹250 crore, while mid-sized states can receive up to ₹200 crore.
• Smaller states and North-Eastern states are eligible for incentives ranging between ₹100 crore and ₹150 crore.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Hosts International Organization for Standardization Technical Committee 20 Subcommittee 14 Meetings on Space Systems and Operations for First Time

• India hosted the International Organization for Standardization Technical Committee 20 Subcommittee 14 (ISO TC 20/SC 14) meetings on Space Systems and Operations for the first time.
• The meetings were organised by the Bureau of Indian Standards (BIS) at Bharat Mandapam, New Delhi.
• A total of 131 international delegates from 13 countries participated, including experts from Indian Space Research Organisation (ISRO), global space agencies, industry, academia, and policymakers.
• ISO TC 20/SC 14 develops international standards related to space systems, satellite operations, mission safety, sustainability, and interoperability across the lifecycle of space missions.
• The initiative aligns with India’s space sector reforms, including the establishment of the Indian National Space Promotion and Authorization Center (IN-SPACe) to promote private sector participation.
• The government emphasised that global standards will help ensure safe, sustainable, and inclusive space activities.
• The Bureau of Indian Standards highlighted the importance of standardisation in improving quality, safety, and global competitiveness of the space industry.
• Indian National Space Promotion and Authorization Center (IN-SPACe) stated that strong standards are essential for innovation, industry confidence, and expansion of India’s role in the global space economy.

Aizawl Hosts First Regional Cooperative Reform Conference Under “Sahkar se Samriddhi” Vision

• Aizawl, Mizoram hosted its first Regional Cooperative Reform Conference under the vision of “Sahkar se Samriddhi” to strengthen cooperative institutions in North-East India.
• The conference was organised by the Ministry of Cooperation as part of nationwide cooperative reform initiatives.
• It marked the first such conference in Mizoram, highlighting focus on expanding cooperative-led development in the North-East region.
• Representatives from all North-Eastern states, cooperative institutions, financial organisations, and national agencies participated in the event.
• Key sectors discussed included dairy cooperatives, fisheries cooperatives, cooperative banking, grain storage infrastructure, Primary Agricultural Credit Societies expansion, and organic farming.
• The conference emphasised improving market linkages, exports, branding, packaging, and certification for indigenous and organic products.
• The North-East region was highlighted as a priority area due to its potential in organic farming, horticulture, bamboo products, fisheries, forest produce, and community-based enterprises.
• Discussions were held on implementing the World’s Largest Grain Storage Plan to improve storage, transportation, and Public Distribution System efficiency through cooperatives.
• Initiatives such as Bharat Organics were highlighted to promote market access for farmers in domestic and global markets.
• Key organisations participating included:
• National Bank for Agriculture and Rural Development
• National Cooperative Development Corporation
• National Agricultural Cooperative Marketing Federation of India Limited
• National Cooperative Consumers’ Federation of India Limited
• National Dairy Development Board
• National Fisheries Development Board
• North Eastern Development Finance Corporation Limited
• The initiative aligns with the broader national vision of “Viksit Bharat 2047” and cooperative-led development.

RECENT NEWS

• The Mizoram State Legislative Assembly has unanimously passed a resolution requesting the inclusion of the Mizo language in the Eighth Schedule of the Constitution of India. This resolution was introduced by State Education Minister Vanlalthlana. And they received support from all members of the assembly. 

About Mizoram:

• Capital: Aizawl
  • Chief Minister: Lalduhoma
  • Governor: Vijay Kumar Singh
  • National Parks: Murlen National Park
  • Wildlife Sanctuaries: Dampa Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tawi Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Thorangtlang Wildlife Sanctuary

India Advances BRICS Micro, Small and Medium Enterprises Cooperation Under 2026 Chairship with Focus on Finance and Financial Technology

• India is advancing Micro, Small and Medium Enterprises (MSME) cooperation under its Brazil, Russia, India, China, South Africa (BRICS) Chairship 2026 with focus on financial inclusion, financial technology ecosystems, and inclusive growth.
• The Ministry of Micro, Small and Medium Enterprises organised the first Small and Medium Enterprises Working Group Meeting on April 24, 2026, focusing on access to finance for Micro, Small and Medium Enterprises.
• India will organise three Small and Medium Enterprises Working Group Meetings and host the inaugural Brazil, Russia, India, China, South Africa Micro, Small and Medium Enterprises Forum during its Chairship.
• The meeting was conducted under the Brazil, Russia, India, China, South Africa Partnership on the New Industrial Revolution, which promotes cooperation in industry, technology, innovation, and Micro, Small and Medium Enterprises development.
• Discussions focused on bridging the Micro, Small and Medium Enterprises credit gap by improving financial inclusion, financial literacy, and credit readiness.
• A major theme was the development of financial technology-driven ecosystems to support Micro, Small and Medium Enterprises financing through:
• Digital lending platforms
• Seamless global trade payments
• Innovative financing models
• Brazil, Russia, India, China, and South Africa exchanged policy experiences and best practices to strengthen Micro, Small and Medium Enterprises support systems.
• Micro, Small and Medium Enterprises play a key role in employment generation, innovation, industrial growth, export promotion, and inclusive economic development in Brazil, Russia, India, China, and South Africa economies.

RECENT NEWS

• Indore will host the BRICS Agriculture Ministers’ Meeting in June 2026 under India’s BRICS Presidency. The two-day meeting is expected to bring together agriculture ministers from BRICS member nations to discuss major global agricultural and food security issues.

India Introduces QR-Code Verification for Census Enumerators for Census 2027

• India has introduced QR-code-enabled identity cards for Census enumerators for the upcoming Census 2027 to improve identity verification and data collection.
• The initiative allows citizens to verify enumerators by scanning QR codes using mobile devices, enhancing transparency and security during field visits.
• The first phase of Census 2027 began on April 1, 2026 and will continue till September 30, 2026.
• Around 30 lakh enumerators are involved in the nationwide Census exercise.
• The Census is being conducted using a technology-driven framework, including:
• Mobile applications
• Centralised data portals
• Real-time data transmission systems
• Live field monitoring tools
• Under the QR-code system, residents can:
• Scan the QR code on the enumerator’s identity card
• Verify identity and official assignment details
• The system is particularly useful in urban areas, gated communities, and high-security residential zones.
• The government has also introduced a self-enumeration facility through an online portal, allowing citizens to:
• Submit Census data digitally
• Generate self-enumeration identification numbers
• Reduce dependence on physical enumeration visits
• In selected areas such as Noida and Ghaziabad, the self-enumeration facility was available from May 7 to May 21, 2026.
• The digital Census system aims to ensure:
• Faster data collection
• Reduced manual errors
• Improved accuracy
• Better monitoring and coordination
• Census in India is a Union subject conducted under the Census Act, 1948, and is carried out in two phases:
• House Listing
• Population Enumeration
• The introduction of QR-code verification is significant as it enhances public trust, prevents impersonation, strengthens digital governance, and ensures transparent Census operations.

Odisha Tops Pradhan Mantri Awas Yojana–Urban 2.0 House Completions with Over 2,000 Houses Completed

• Odisha has emerged as the top-performing state in house completions under Pradhan Mantri Awas Yojana–Urban 2.0 (PMAY-U 2.0).
• The state maintained the first position from March 2025 to March 2026 in terms of housing completion performance.
• Pradhan Mantri Awas Yojana–Urban 2.0 was launched in September 2024 to provide affordable pucca houses to urban poor, economically weaker sections, and middle-income groups.
• Odisha has made significant progress under the scheme:
• 24,625 houses sanctioned
• 23,464 sites geo-tagged
• 3,134 houses with foundation work started
• 2,008 houses completed as of May 5, 2026
• The scheme uses technology-driven monitoring systems, including geo-tagging of construction sites, foundation tracking, and real-time progress monitoring.
• Geo-tagging helps in identifying the exact location of houses and tracking construction progress efficiently.
• The Housing and Urban Development Department of Odisha and urban local bodies are responsible for implementation, beneficiary identification, and project monitoring.
• Urban local bodies play a key role in coordinating construction, ensuring timely execution, and monitoring housing progress.
• Odisha’s performance reflects efficient implementation, strong coordination, and effective use of digital tools under the scheme.
• Odisha’s success may serve as a model for other states in implementing Pradhan Mantri Awas Yojana–Urban 2.0 effectively.

RECENT NEWS

• To strengthen the county’s semi-conductor system the foundation stone for the India’s first advanced 3D semiconductor packaging unit was laid in the State of Odisha

About Odisha:

• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuaries: Chandaka Wildlife Sanctuary, Nandankanan Zoological Park, Kuldiha Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Kotagarh Wildlife Sanctuary, Lakhari Valley Wildlife Sanctuary, Baisipalli Wildlife Sanctuary

Maharashtra Approves Compressed Biogas Policy 2026 with ₹500 Crore Support to Promote Waste-to-Energy Projects

• The Government of Maharashtra has approved the Compressed Biogas Policy 2026 to promote renewable energy generation through waste-to-energy projects.
• The policy was approved by the Maharashtra Cabinet and officially released.
• The state has allocated ₹500 crore for implementation in the financial year 2026–27.
• The policy aims to establish Compressed Biogas projects in every district of the state using municipal solid waste and agricultural residue.
• It supports India’s clean energy transition and Net-Zero emissions target by 2070.
• Compressed Biogas is a purified form of biogas produced from organic waste through anaerobic digestion, and is used as transport fuel, industrial fuel, and clean energy source.
• Maharashtra generates around 24,500 metric tonnes of municipal solid waste daily and over 20 million metric tonnes of agricultural residue annually, which will be utilised for Compressed Biogas production.
• Key provisions of the policy include:
• Establishment of district-level Compressed Biogas plants
• Mandatory segregation of waste into organic and inorganic categories
• Each project to process at least 200 tonnes of organic waste per day
• The policy will be implemented through a Public-Private Partnership model and a hybrid annuity model for efficient project execution.
• An oversight mechanism includes a Steering Committee chaired by the Chief Secretary and district-level coordination committees for monitoring implementation.
• Financial incentives under the policy include:
• Viability Gap Funding up to ₹75 lakh per tonne capacity
• Maximum funding cap of ₹15 crore per project
• State Goods and Services Tax refund of 2.5 per cent after production begins
• Priority access to electricity and water supply
• Land allocation will be cancelled if projects do not become operational within two years, ensuring timely execution.
• The policy is aligned with national initiatives such as Sustainable Alternative Towards Affordable Transportation, Galvanising Organic Bio-Agro Resources Dhan, and Swachh Bharat Mission.

RECENT NEWS

• The State of Maharashtra Cabinet which was led by Honorable Chief Minister Devendra Fadnavis have approved the ambitious Maharashtra Artificial Intelligence Policy 2026. This policy is aims to attract over the ₹10,000 crore in the investments and will generate around the 1.5 lakh jobs by 2031.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma.
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

Supreme Court Proposes Permanent Women-Only Vice-President Post in Supreme Court Bar Association from 2027–28

• The Supreme Court of India has proposed the creation of a permanent women-only Vice-President post in the Supreme Court Bar Association (SCBA) starting from the 2027–28 election cycle.
• The proposal was made during hearings related to reforms in Bar bodies and women’s representation in the legal profession.
• On May 8, 2026, the Supreme Court asked the SCBA General Body to consider creating an additional Vice-President post reserved exclusively for women.
• The move aims to increase participation of women advocates in leadership roles within the Supreme Court Bar Association.
• The proposal is linked to ongoing discussions on reservation of posts for women in SCBA’s elected office-bearer structure.
• The Supreme Court Bar Association (SCBA) is the recognised body of advocates practising before the Supreme Court of India, with key posts including President, Vice-President, Secretary, and Executive Committee Members.
• The issue is connected to an earlier Supreme Court order dated April 27, 2026, regarding reservation of posts in the 2026–27 SCBA elections.
• Initially, the Vice-President post was reserved for women for the 2026–27 elections, but the decision was later modified following objections.
• The court restored the earlier reservation arrangement for 2026–27, under which the following posts remain reserved for women:
• Secretary post
• Two Senior Executive Committee posts
• Three Executive Committee posts
• Women lawyers raised concerns that the Secretary post carries greater functional importance, and replacing it with the Vice-President post may reduce effective representation.
• The proposal for a permanent Vice-President post for women from 2027–28 is aimed at strengthening gender representation, promoting inclusive decision-making, and creating leadership opportunities in legal bodies.
• The move is significant as it may encourage similar reforms in other Bar associations and improve institutional inclusivity in the legal profession.

Jharkhand Achieves Zero Primary Dropout Rate in 2024–25 as per Unified District Information System for Education Plus Data

• Jharkhand has achieved a zero primary dropout rate (0%) in 2024–25, marking a major milestone in school education.
• The primary dropout rate declined from 6.41 per cent in 2014–15 to 0 per cent in 2024–25, as per data from the Unified District Information System for Education Plus (UDISE+) and a NITI Aayog report released on May 8, 2026.
• The state also recorded significant improvement in other levels:
• Upper primary dropout rate reduced from 7.42 per cent to 1.7 per cent
• Secondary dropout rate declined from 23.2 per cent to 3.5 per cent
• Jharkhand ranked fourth in India in terms of reduction in secondary dropout rates.
• Dropout rate refers to the percentage of students who leave school before completing a specific level of education:
• Primary: Classes I to V
• Upper Primary: Classes VI to VIII
• Secondary: Classes IX to X
• The Unified District Information System for Education Plus (UDISE+) is a national database used by the Ministry of Education to track enrolment, teachers, infrastructure, and educational indicators.
• Jharkhand showed consistent progress in school retention over the decade, despite having recorded over 11 per cent primary dropout in 2022–23 before achieving zero in 2024–25.
• The Gross Enrolment Ratio (GER) trends in Jharkhand show:
• Primary GER declined from 109.2 per cent (2014–15) to 92.5 per cent (2024–25)
• Secondary GER improved from 66.05 per cent to 72 per cent
• Gross Enrolment Ratio may exceed 100 per cent when students outside the official age group are enrolled.
• Despite progress, challenges remain:
• Around 86,000 children were out of school as of September 2023
• The state conducted a household survey from November 2025 to January 2026
• There were 99,565 teacher vacancies, including 80,341 at the elementary level
• Jharkhand had 9,172 single-teacher schools
• The achievement is significant as reducing dropout rates supports higher literacy, improved school participation, better learning outcomes, and long-term social development.

About Jharkhand:

• Capital: Ranchi
  • Chief Minister: Hemant Soren
  • Governor: Santosh Gangwar
  • National Parks: Betla National Park
  • Wildlife Sanctuaries: Palamau Wildlife Sanctuary, Hazaribagh Wildlife Sanctuary, Dalma Wildlife Sanctuary, Koderma Wildlife Sanctuary, Mahuadanr Wolf Sanctuary, Topchanchi Wildlife Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Federation of Indian Chambers of Commerce and Industry appoints Priyanka Mittal as Co-Chair of the Saudi-India Business Council

• The Federation of Indian Chambers of Commerce and Industry (FICCI) has nominated Priyanka Mittal, Director of KRBL (Khushi Ram & Behari Lal) Limited, as the Co-Chair of the Saudi-India Business Council (SIBC), strengthening India’s representation in bilateral economic cooperation.
• Siddeek Ahmed, Chairman of Eram Holdings, has been nominated as the Chair of the Indian side of SIBC, which is a key platform for India–Saudi Arabia trade and investment relations.
• The Saudi-India Business Council (SIBC), jointly formed by FICCI and the Federation of Saudi Chambers (FSC), is an important bilateral platform promoting trade, investment, and economic cooperation between India and Saudi Arabia.

About Priyanka Mittal :

• Priyanka Mittal co-founded Koosia, a premium handbag brand, and transitioned from international finance to family business leadership, showing diversified professional experience.
• She serves as President of the All India Rice Exporters Association (AIREA) and Chairperson of the Foreign Trade and Policy Committee at PHDCCI, highlighting her leadership in trade and policy domains.
• She is also a Board Member of the University of Southern California (USC) Viterbi School of Engineering Board of Councilors, reflecting global academic engagement.
• She joined KRBL Limited (India Gate Basmati Rice) in 2001 and has been serving as Whole-Time Director since 2008, contributing significantly to India’s agri-export sector.
• She was awarded the “Business Woman of the Decade” (2018) by the Women Economic Forum, recognizing her achievements in business leadership.

Vice Admiral Krishna Swaminathan appointed as Chief of the Naval Staff (CNS) of India

• The Government has appointed Vice Admiral Krishna Swaminathan, PVSM, AVSM, VSM as the Chief of the Naval Staff (CNS) of India.
• The present CNS Dinesh Kumar Tripathi will retire from service on 31 May 2026, marking a key leadership transition in the Indian Navy.
• Vice Admiral Krishna Swaminathan is the 34th Flag Officer Commanding-in-Chief of the Western Naval Command, having assumed charge on 31 July 2025.
• He was commissioned into the Indian Navy on 01 July 1987 and is a specialist in Communication and Electronic Warfare, reflecting strong technical expertise in naval operations.
• In his career, he has commanded key naval assets including INS Vidyut, INS Vinash, INS Kulish, INS Mysore, and the aircraft carrier INS Vikramaditya, highlighting extensive operational command experience.
• On promotion to Vice Admiral, he served as Chief of Staff, Western Naval Command, Controller of Personnel Services, and Chief of Personnel at Naval Headquarters.
• Prior to his current appointment, he served as Vice Chief of the Naval Staff (VCNS) at Naval Headquarters.
• He has been awarded the Param Vishisht Seva Medal, Ati Vishisht Seva Medal, and Vishisht Seva Medal for distinguished service to the nation.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Kotak Mahindra Bank gets Reserve Bank of India approval to acquire up to 9.99% stake each in AU Small Finance Bank and Federal Bank

• Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 99% stake (each) in AU Small Finance Bank and Federal Bank, marking a key development in India’s banking sector consolidation.
• The approval allows Kotak Mahindra Bank, along with its subsidiaries and managed funds (Kotak Mahindra Group), to collectively hold up to 99% shareholding/voting rights in both banks.
• The permission is subject to compliance with the Banking Regulation Act, 1949, RBI Commercial Banks (Acquisition and Holding of Shares or Voting Rights Directions, 2025), and FEMA, 1999 regulations, along with other applicable rules.
• The approval falls within the RBI’s 10% ownership cap for significant minority stakes, ensuring regulatory control over bank shareholding structures.

About AU Small Finance Bank :

• Founded : 1996
• Headquarters : Mumbai, Maharashtra, India
• Founder, MD & CEO : Sanjay Agarwal

About Kotak Mahindra Bank:

• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Ashok Vaswani
• Tagline: Let’s Make Money Simple

About Federal Bank:

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

Fairfax India to Invest ₹2,000 Crore in IIFL Capital Services

• Fairfax India Holdings Corporation, led by billionaire investor Prem Watsa, plans to increase its stake in IIFL Capital Services to at least 51% through a ₹2,000 crore capital infusion.
• The investment will be made through Fairfax’s wholly owned subsidiary FIH Mauritius Investments via a combination of preferential allotment of equity shares, open offer, and arrangements with existing promoters.
• Currently, the Canada-headquartered Fairfax Group is the second-largest shareholder in IIFL Capital Services, holding around 27.18% stake through FIH Mauritius Investments.
• Including its affiliate holdings, Fairfax India, through FIH Mauritius and HWIC Asia Fund Class A, presently holds nearly 30.5% stake in the company.
• After completion of the transaction, Fairfax India and HWIC Asia Fund Class A will join the existing promoter group alongside Nirmal Jain and R Venkataraman.
• The proposed investment of ₹2,000 crore will be made at a price of ₹350 per share.
• The capital infusion is expected to significantly strengthen the company’s balance sheet and support expansion across businesses such as capital markets, wealth management, asset management, institutional equities, investment banking, and related financial services.
• As part of the agreement, FIH Mauritius Investments will get the right to nominate two directors on the board of IIFL Capital Services, subject to shareholder and regulatory approvals.
• The transaction is subject to customary approvals, including compliance with Securities and Exchange Board of India (SEBI) regulations and applicable open offer requirements.

CURRENT AFFAIRS : DEFENCE NEWS

ICGS Achal, Adamya-class Fast Patrol Vessel, commissioned into Indian Coast Guard at Goa Shipyard Limited

• The ICGS Achal, the latest Adamya-class Fast Patrol Vessel, was commissioned into the Indian Coast Guard at Goa Shipyard Limited, marking a major boost to India’s maritime operational capability.
• The vessel was formally commissioned by Shri A. Anbarasu, Additional Secretary & Director General (Acquisition), Ministry of Defence.
• The ship is named “Achal” (meaning “firm”), symbolizing the Indian Coast Guard’s steadfast commitment to maritime security, coastal protection, and safeguarding national interests.
• It will be deployed for multiple maritime operations, including coastal and offshore surveillance, Search and Rescue (SAR), anti-smuggling operations, interdiction, and marine pollution response.
• The vessel has been indigenously designed and built by Goa Shipyard Limited, reflecting India’s growing strength in domestic defence manufacturing.
• It incorporates more than 50% indigenous components, supporting the vision of Atmanirbhar Bharat and Make in India.
• The commissioning of ICGS Achal strengthens the Indian Coast Guard fleet expansion programme and enhances coastal security and operational readiness of India’s maritime forces.

Defence Research and Development Organisation successfully conducts long-duration test of Actively Cooled Full Scale Scramjet Combustor for Hypersonic Missile technology

• The Defence Research and Development Organisation (DRDO) achieved a major breakthrough in Hypersonic Missile technology through a successful long-duration test of the Actively Cooled Full Scale Scramjet Combustor.
• The test was conducted by the Defence Research and Development Laboratory (DRDL) at the Scramjet Connect Pipe Test (SCPT) Facility, Hyderabad, on 09 May 2026.
• During the test, the Scramjet Combustor achieved a run-time of over 1,200 seconds, surpassing the earlier successful test of 700 seconds conducted in January 2026.
• The successful test marks a significant advancement in India’s Hypersonic Cruise Missile Development Programme and strengthens India’s position in advanced aerospace and next-generation warfare technologies.
• The Actively Cooled Full Scale Scramjet Combustor was designed and developed by DRDL with support from Indian industry partners, highlighting indigenous technological capability.
• The technology uses a supersonic air-breathing engine, powered by indigenously developed liquid hydrocarbon endothermic fuel, along with high-temperature thermal barrier coating and advanced manufacturing processes.
• The ground tests at the SCPT Facility successfully validated both the advanced active-cooled scramjet combustor design and the capability of the state-of-the-art testing infrastructure.

Steel Cutting Ceremony Held for Indian Navy’s Fifth Fleet Support Ship at Hindustan Shipyard Limited Visakhapatnam

• The ‘Steel Cutting’ Ceremony of the 5th and final Fleet Support Ship (FSS) was held at Hindustan Shipyard Limited (HSL),Visakhapatnam .
• The Indian Navy had signed a contract with HSL in August 2023 for the acquisition of five Fleet Support Ships (FSS).
• Delivery of the Fleet Support Ships is scheduled to commence from mid-2027.
• The Fleet Support Ships will strengthen the Blue Water capabilities of the Indian Navy by enabling replenishment of fleet ships at sea.
• Each FSS will have a displacement of more than 40,000 tonnes, making them among the largest support vessels for the Navy.
• The ships will supply fuel, water, ammunition, and other stores to fleet ships, supporting long-duration deployments and enhanced operational mobility.
• The project will significantly improve the strategic reach, endurance, and mobility of the Indian Naval Fleet.
• In their secondary role, the ships will support Humanitarian Aid and Disaster Relief (HADR) operations and Non-Combatant Evacuation Operations (NEO).
• The initiative aligns with the Government of India’s flagship programmes Aatmanirbhar Bharat, Make in India, and Make for the World.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

O.P. Jindal Global University becomes first Indian Institute of Eminence to secure Data Science Council of America accreditation

• P. Jindal Global University (JGU), Sonipat, Haryana, has become India’s first Institute of Eminence (IoE) to receive accreditation from the Data Science Council of America (DASCA).
• DASCA is an international standards body that provides academic accreditation and professional certifications in Data Science and Artificial Intelligence (AI).
• The accreditation was awarded under the World Data Sciences & AI Initiative (WDSAI), a global initiative led by DASCA to help universities adopt internationally benchmarked AI and data science standards.
• The recognition strengthens JGU’s position as a leader in the integration of AI and Data Science into higher education and academic ecosystems.
• Seven flagship programmes of JGU related to AI and Data Science have been aligned with DASCA standards under the WDSAI framework.
• Key accredited programmes include Master of Science (M.Sc.) in AI & Data Science, Bachelor of Arts (B.A.) in AI & Law, and Bachelor of Business Administration (BBA Hons.) in Business Analytics.
• The accreditation is valid till 2031 and covers residential, non-residential, and online learning formats, ensuring broad academic applicability.

CSIR-Indian Institute of Petroleum Observes Rashtriya Boudhik Sampada Mahotsav 2026 to Enhance IP Awareness in India

• CSIR-Indian Institute of Petroleum celebrated Rashtriya Boudhik Sampada Mahotsav (RBSM) 2026 on 8 May 2026 to promote Intellectual Property (IP) awareness in India.
• RBSM is part of the Azadi Ka Amrit Mahotsav initiative and was first launched in July 2023.
• The programme began with lamp lighting and Saraswati Vandana, followed by opening remarks from Dr. D V Naik, In-charge of IPMG, CSIR-IIP.
• Dr. Maity, Chairman of PPC, delivered a brief address during the event.
• An expert lecture on “Fuelling Innovation: The Role of Intellectual Property in Technology and Industrial Advancement” was delivered by Kapil Arya from CSIR-Innovation Protection Unit.
• Winners of the IP Quiz Competition, conducted on 6 May 2026, were felicitated during the programme.

Pixxel wins United States National Reconnaissance Office contract for hyperspectral remote sensing development

• Indian space technology company Pixxel has secured a major contract from the National Reconnaissance Office (NRO), United States under the Commercial Systems Program Office (CSPO) to develop advanced hyperspectral remote sensing
• The contract is part of the Strategic Commercial Enhancements Commercial Solutions Opening (CSO) programme, aimed at integrating commercial hyperspectral data into US national intelligence and Earth observation systems for defence and security applications.
• The project will utilise Pixxel’s Firefly satellite constellation, which consists of six hyperspectral satellites launched in 2025, to demonstrate high-resolution global imaging
• The initiative is being executed by Pixxel Federal, under the leadership of Allyson Jenkins (Vice President, Pixxel), focusing on advanced multi-phenomenology remote sensing
• Hyperspectral Imaging (HSI) enables detailed analysis of materials, environmental conditions, and activities beyond conventional imaging systems, making it useful for defence, agriculture, energy, environmental monitoring, and intelligence applications.

Recent News :

• In May 2026, Spacetech startup Pixxel partnered with Sarvam AI to develop India’s first orbital data centre satellite, named Pathfinder.

Union Minister Dr. Jitendra Singh Says India Advancing Rapidly in Quantum, AI and Emerging Technologies with Youth Key to Viksit Bharat 2047

• Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, PMO, Atomic Energy and Space, inaugurated the “Lakshya 2047” Centre for Future Skills, Cadaveric Centre, and Advanced Medical Simulation facilities at Parul University.
• The initiative aims to prepare India’s youth for a Viksit Bharat by 2047 through advanced training in emerging technologies and future skills.

Key Highlights :

• Dr.Jitendra Singh stated that India is progressing rapidly in Quantum Technology, Artificial Intelligence (AI), Semiconductors, Cybersecurity, and Deep-Tech sectors.
• The Lakshya 2047 Centre has been developed in collaboration with National Skill Development Corporation (NSDC), Ethnotech, and Cambridge University Press & Assessment.
• The centre will provide training in nine future-technology domains along with globally recognised certifications.
• Under the National Quantum Mission, India successfully completed 1,000 km of secure quantum communication within just three years, ahead of the projected timeline.
• The National Quantum Mission is an 8-year mission being implemented through four thematic hubs and collaborations with institutions across India.
• The India AI Mission, launched in 2024, focuses on building an ecosystem around compute infrastructure, datasets, innovation, and future skills.
• India currently ranks third globally in the startup ecosystem and has crossed 1 lakh patents, with the majority filed by Indian residents.
• India is also among the top countries in scientific publications, with increasing global citations and recognition for Indian research.
• Dr. Jitendra Singh highlighted that nearly 70% of India’s population is below 40 years of age, giving India a major demographic advantage to emerge as a global skilled workforce hub.
• The Government is promoting innovation through initiatives such as National Education Policy (NEP) 2020, National Quantum Mission, India AI Mission, Anusandhan National Research Foundation (ANRF), and Atal Tinkering Labs.
• Special support programmes for women scientists, school students, Scheduled Castes (SCs), Scheduled Tribes (STs), universities, and young researchers are being implemented through schemes like PURSE, FIST, STUTI, and technology innovation platforms.
• He stated that the Government’s long-term objective is to build a science-driven, innovation-led, and skill-oriented economy by the time India completes 100 years of Independence in 2047.

Recent News :

• In May 2026, Union Minister Dr. Jitendra Singh stated that India has entered a decisive phase in its defence transformation, driven by technology, indigenous innovation, and private sector participation.

CURRENT AFFAIRS : OBITUARIES

Former India football midfielder Mohan Singh passed away at 78

• Former India football midfielder Mohan Singh passed away at the age of 78 in Kolkata, West Bengal, marking the loss of a notable figure in Indian football.
• Born in 1948, he was known for his skilful playing style and key contributions to Indian football during the 1970s.
• He made his international debut for India against Burma on 22 March 1972 in the Pre-Olympic Tournament held in Rangoon (now Yangon, Myanmar) and earned 3 international caps during the campaign.
• At the club level, he represented major Indian clubs including East Bengal FC, Mohun Bagan AC, and Mohammedan Sporting Club during the 1970s.
• He scored 11 goals for East Bengal and 3 goals for Mohun Bagan, showcasing his impact as an attacking midfielder.
• His major achievements include winning prestigious domestic titles such as the Calcutta Football League (1972, 1975), Indian Football Association (IFA) Shield (1972, 1975), Durand Cup (1972), Rovers Cup (1972, 1975), and Bordoloi Trophy (1972).

CURRENT AFFAIRS: IMPORTANT DAYS

National Technology Day 2026 Observed on May 11 to Mark Pokhran Nuclear Tests and Promote Scientific Advancement

• National Technology Day is observed every year on May 11 to recognise the contributions of scientists, research, and technological advancements in India.
• The day commemorates the successful Pokhran nuclear tests conducted on May 11, 1998 under Operation Shakti at the Pokhran Test Range in Rajasthan.
• The tests were carried out under the leadership of Dr. A. P. J. Abdul Kalam with the involvement of:
• Bhabha Atomic Research Centre
• Defence Research and Development Organisation
• Atomic Minerals Directorate for Exploration and Research
• National Technology Day was first declared by former Prime Minister Atal Bihari Vajpayee and was first observed on May 11, 1999.
• The day aims to promote awareness about the importance of technology, innovation, and scientific research in national development.
• It highlights India’s achievements in defence, space, nuclear technology, and industrial innovation.
• The Technology Development Board has instituted National Technology Awards to encourage and recognise contributions in technology development.
• The observance underscores the role of science and technology in achieving self-reliance, economic growth, and national security.

Daily CA One- Liner: May 10 & 11

• India hosted the International Organization for Standardization Technical Committee 20 Subcommittee 14 (ISO TC 20/SC 14) meetings on Space Systems and Operations for the first time
• Aizawl, Mizoram hosted its first Regional Cooperative Reform Conference under the vision of “Sahkar se Samriddhi” to strengthen cooperative institutions in North-East India
• India is advancing Micro, Small and Medium Enterprises (MSME) cooperation under its Brazil, Russia, India, China, South Africa (BRICS) Chairship 2026 with focus on financial inclusion, financial technology ecosystems, and inclusive growth
• India has introduced QR-code-enabled identity cards for Census enumerators for the upcoming Census 2027 to improve identity verification and data collection
• Odisha has emerged as the top-performing state in house completions under Pradhan Mantri Awas Yojana–Urban 2.0 (PMAY-U 2.0).
• The Government of Maharashtra has approved the Compressed Biogas Policy 2026 to promote renewable energy generation through waste-to-energy projects
• The Supreme Court of India has proposed the creation of a permanent women-only Vice-President post in the Supreme Court Bar Association (SCBA) starting from the 2027–28 election cycle.
• Jharkhand has achieved a zero primary dropout rate (0%) in 2024–25, marking a major milestone in school education.
• The three Jan Suraksha Schemes — Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY) — have completed 11 years of implementation.
• The Securities and Exchange Board of India (SEBI) has discontinued the Investor Risk Reduction Access (IRRA) platform for stock brokers with immediate effect.
• The Department of Financial Services (DFS) receives more than 5 lakh grievances annually and has consistently ranked among the top 10 ministries/departments in the Grievance Redressal Assessment and Index (GRAI) since November 2025, reflecting strong administrative responsiveness.
• The Ministry of Finance has introduced a performance-based framework under the Special Assistance for State Capital Investment (SASCI) Scheme to reward states showing stronger fiscal discipline.
• The Federation of Indian Chambers of Commerce and Industry (FICCI) has nominated Priyanka Mittal, Director of KRBL (Khushi Ram & Behari Lal) Limited, as the Co-Chair of the Saudi-India Business Council (SIBC), strengthening India’s representation in bilateral economic cooperation.
• The Government has appointed Vice Admiral Krishna Swaminathan, PVSM, AVSM, VSM as the Chief of the Naval Staff (CNS) of India.
• Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 99% stake (each) in AU Small Finance Bank and Federal Bank, marking a key development in India’s banking sector consolidation.
• Fairfax India Holdings Corporation, led by billionaire investor Prem Watsa, plans to increase its stake in IIFL Capital Services to at least 51% through a ₹2,000 crore capital infusion.
• The ICGS Achal, the latest Adamya-class Fast Patrol Vessel, was commissioned into the Indian Coast Guard at Goa Shipyard Limited, marking a major boost to India’s maritime operational capability.
• The Defence Research and Development Organisation (DRDO) achieved a major breakthrough in Hypersonic Missile technology through a successful long-duration test of the Actively Cooled Full Scale Scramjet Combustor.
• The ‘Steel Cutting’ Ceremony of the 5th and final Fleet Support Ship (FSS) was held at Hindustan Shipyard Limited (HSL),Visakhapatnam .
• P. Jindal Global University (JGU), Sonipat, Haryana, has become India’s first Institute of Eminence (IoE) to receive accreditation from the Data Science Council of America (DASCA).
• CSIR-Indian Institute of Petroleum celebrated Rashtriya Boudhik Sampada Mahotsav (RBSM) 2026 on 8 May 2026 to promote Intellectual Property (IP) awareness in India.
• Indian space technology company Pixxel has secured a major contract from the National Reconnaissance Office (NRO), United States under the Commercial Systems Program Office (CSPO) to develop advanced hyperspectral remote sensing
• Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, PMO, Atomic Energy and Space, inaugurated the “Lakshya 2047” Centre for Future Skills, Cadaveric Centre, and Advanced Medical Simulation facilities at Parul University.
• Former India football midfielder Mohan Singh passed away at the age of 78 in Kolkata, West Bengal, marking the loss of a notable figure in Indian football.
• National Technology Day is observed every year on May 11 to recognise the contributions of scientists, research, and technological advancements in India