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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Directorate General of Foreign Trade tightens rules for duty-free gold imports for gems and jewellery exports under Advance Authorisation scheme

• The Directorate General of Foreign Trade (DGFT) has tightened regulations for duty-free gold imports under the Advance Authorisation (AA) scheme for the gems and jewellery sector.
• The revised norms introduce five new compliance notes under Standard Input Output Norms (SIONs) M1 to M8, effective immediately to strengthen monitoring and regulatory control.
• Under the new framework, gold import authorisations under the AA scheme are capped at 100 kilograms per licence, aimed at preventing misuse and ensuring better compliance.
• First-time applicants will now undergo mandatory physical inspection of manufacturing facilities by regional authorities to verify operational capacity and unit existence.
• Repeat applicants will receive fresh licences only after fulfilling at least 50% export obligations under previous authorisations, ensuring stronger export compliance discipline.
• The move follows the government’s decision to raise gold import duty from 6% to 15%, amid record imports worth $71.98 billion in FY 2025–26.
• The policy aims to reduce gold imports, protect foreign exchange reserves, and stabilise the Indian rupee amid global geopolitical tensions.
• The Advance Authorisation (AA) scheme allows exporters in the gems and jewellery sector to import gold duty-free, provided it is used exclusively for manufacturing jewellery for export.
• The Standard Input Output Norms (SIONs) define the quantity of gold required for producing specific jewellery outputs, ensuring standardisation in export production.

Recent News :

• The Reserve Bank of India moved 23 metric tonnes (MT) of its gold reserves domestically in the six months ended March 2026, reflecting a continued shift toward domestic gold custody.

Reserve Bank of India removes prior approval requirement for banks–fintech tie-ups for outward remittance services

• The Reserve Bank of India (RBI) has removed the requirement of prior approval for non-bank entities (fintechs) to enter into tie-up arrangements for enabling outward remittance services through banks in India.
• This move is part of the RBI’s updated operating framework to facilitate outward remittances via Authorised Dealer (AD) Category-I banks.
• Earlier, under the 2016 framework, non-bank entities were required to obtain RBI approval before partnering with AD banks for providing outward remittance services.
• The revised framework applies to cross-border outward remittance of funds for non-trade current account transactions conducted through websites, online platforms, software applications, and mobile apps operated by third-party entities.
• As per RBI directions, AD Category-I banks must ensure compliance with the Foreign Exchange Management Act (FEMA), 1999 and conduct proper Know Your Customer (KYC) due diligence.
• Banks are also required to inform customers about the exact foreign exchange amount credited and the maximum time required for fund transfer to the beneficiary.

Securities and Exchange Board of India proposes gradual transition to physical settlement for select agricultural derivative contracts

• The Securities and Exchange Board of India (SEBI) has proposed allowing select agricultural commodity derivatives contracts to be initially financially settled before transitioning to compulsory physical settlement.
• The proposal aims to improve liquidity, revive illiquid agri-derivative contracts, and encourage the launch of new delivery-based commodity contracts on exchanges.
• According to the proposed framework, contracts will be designed as delivery-based from inception, while the financially settled phase will function as a temporary market-development mechanism.
• The framework seeks to address liquidity constraints faced by agricultural derivatives, especially during the initial launch phase, when contracts often experience low trading volumes and limited open interest.
• SEBI stated that compulsory physical settlement from inception may restrict participation only to entities capable of taking or giving delivery, thereby limiting broader market participation.
• Allowing contracts to operate temporarily in a financially settled format is expected to improve market depth, increase trading participation, and enhance price discovery before delivery obligations begin.
• Commodities such as maize, groundnut, and chilli may be included during the pilot implementation phase of the framework.
• The contracts will eventually shift to mandatory physical settlement once predefined thresholds related to Average Daily Traded Volume (ADTV) or open interest are achieved.
• Even if the required liquidity thresholds are not met, the contracts must transition to physical settlement within two years from the date of launch.
• SEBI clarified that important contract specifications such as quality standards, delivery centres, and settlement mechanisms will be defined upfront despite the temporary financially settled structure.

Recent News :

• In May 2026, The Securities and Exchange Board of India (SEBI) revised rules to allow a uniform 30-day time lag for sharing and using stock price data for educational and investor awareness activities.

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.

India’s retail inflation rises to 3.48% in April, hits 14-month high on surge in food, gold and silver prices

• India’s retail inflation (CPI) rose to 3.48% in April, marking a 14-month high, primarily due to increased prices of food items, gold, and silver.
• Despite the rise, inflation remained below the RBI target of 4%, supporting expectations that interest rates may remain unchanged in the near term.
• The highest inflation was recorded in key commodities such as silver jewellery (144.34%), coconut/copra (44.55%), gold, diamond and platinum jewellery (40.72%), tomato (35.28%), and cauliflower (25.58%).
• The Ministry of Statistics and Programme Implementation (MoSPI) released the updated Consumer Price Index (CPI) in February, revising the base year to 2024, replacing the earlier 2012 base year.
• The new CPI 2024 basket includes 358 goods and services, significantly higher than the earlier basket of 59 items, improving the measurement of inflation accuracy and coverage.

CTBC Bank becomes first Taiwanese bank to open branch at GIFT City, Gujarat

• CTBC Bank Co. Ltd. has opened its new branch at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat, becoming the first Taiwanese bank to establish presence in India’s International Financial Services Centre (IFSC).
• The branch was established after receiving necessary approvals from the International Financial Services Centres Authority (IFSCA), marking a key milestone in India–Taiwan financial cooperation.
• The new CTBC Bank branch in GIFT City aims to strengthen cross-border financing, trade, and investment flows, and enhance financial connectivity between India, Taiwan, and the wider Asia region.
• The bank has maintained a presence in India for over 30 years, demonstrating long-term commitment to the Indian market.
• CTBC Bank already operates branches in New Delhi (Delhi) and Kattupakkam, Chennai (Tamil Nadu), supporting customers through changing economic conditions and regional integration.

Reserve Bank of India informs Supreme Court: 30 banks integrated with UDGAM portal to help trace deceased account holders’ unclaimed funds

• The Reserve Bank of India (RBI) informed the Supreme Court that 30 banks have been integrated into the UDGAM portal to help legal heirs trace unclaimed funds of deceased account holders.

Key Highlights :

• UDGAM (Unclaimed Deposits – Gateway to Access Information) is an online centralized portal developed by the RBI.
• The platform was developed in collaboration with Reserve Bank Information Technology Pvt Ltd (ReBIT) and Indian Financial Technology and Allied Services (IFTAS) along with selected banks.
• The portal covers around 90% of unclaimed deposits (by value) held in the Depositor Education and Awareness (DEA) Fund.
• A total of 30 banks are currently part of the UDGAM platform, enabling consolidated search of unclaimed accounts.
• The portal allows users to search both individual and non-individual unclaimed deposits/accounts.
• UDGAM is only a search and information platform and does not process claims; claims must be made directly with the respective bank.
• It also provides details of the claim and settlement process of each participating bank.
• To search individual accounts, users must provide:
• Account holder name
• Bank name (one or more)
• Any one or more identifiers such as PAN, Driving License, Voter ID, Passport Number, or Date of Birth
• After registration, users receive a UDRN (Unclaimed Deposit Reference Number), generated via the Core Banking Solution (CBS).
• The UDRN ensures privacy, preventing identification of the account holder or bank branch by third parties.
• As per RBI definition, “Unclaimed Deposits” include:
• Savings/Current accounts inactive for 10 years
• Fixed deposits not claimed within 10 years from maturity
• Such unclaimed funds are transferred to the Depositor Education and Awareness (DEA) Fund, maintained by the RBI.

National Statistics Office revises release schedule for Annual Gross Domestic Product Provisional Estimates and Fourth Quarter GDP data

• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) has revised the release schedule for India’s Annual Gross Domestic Product (GDP) and Fourth Quarter (Q4) GDP estimates.
• Under the revised system, the Provisional Estimates (PE) of Annual GDP and January–March Quarter GDP data will now be released on 7 June every year, or on the previous working day if 7 June is a holiday.
• Earlier, the GDP data used to be released on the last working day of May.
• The revision was made after consultations with the Advisory Committee on National Accounts Statistics (ACNAS) to improve the quality, robustness, reliability, and coverage of national accounts data.
• The Ministry stated that the change was necessary because certain critical datasets become available only after a delay of up to two months.
• Listed companies are required to submit their audited Q4 and annual financial statements within 60 days from the end of the financial year, resulting in many filings arriving close to the 31 May deadline.
• In the case of Central Government Accounts, key fiscal data related to revenue expenditure, capital expenditure, taxes, subsidies, and interest payments for March become available only after a two-month lag.
• Under the revised calendar, the Provisional GDP Estimates for FY 2025–26 and Q4 GDP data for January–March 2026 will be released on 5 June 2026.
• The revision is part of MoSPI’s continued efforts to strengthen national accounts compilation and align India’s statistical practices with international best practices.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Plans 2,000 Kilometre Oman–Gujarat Subsea Gas Pipeline

• India is planning to construct a ₹40,000 crore subsea gas pipeline connecting Oman and Gujarat to strengthen long-term energy security.
• The Ministry of Petroleum is directing GAIL, Engineers India, and Indian Oil Corporation to prepare a detailed feasibility report for the ₹40,000 crore Middle East-India Deep-water Pipeline (MEIDP).
• This follows a pre-feasibility study by South Asia Gas Enterprise, which has already laid 3,000 metres of test pipeline to assess seabed conditions.
• The project, if approved, could take five to seven years to complete and would deliver 31 mmscmd of natural gas directly to Gujarat.
• The proposal gained urgency after the 2026 Strait of Hormuz crisis, which disrupted global energy flows and exposed India’s dependence on a single maritime route.
• Nearly 88 percent of India’s crude oil imports and a significant share of Liquefied Natural Gas supplies pass through the Strait of Hormuz.
• When Iran disrupted the route in March 2026, India faced:
• Supply chain disruptions
• Shipping risks
• Major financial losses
• The crisis pushed policymakers to diversify energy transport routes and reduce dependence on vulnerable chokepoints.
• The proposed project is a deep-sea gas pipeline connecting Oman directly to Gujarat through the Arabian Sea.
• Major project details include:
• Estimated cost: ₹40,000 crore
• Length: 2,000 kilometres
• Route: Oman → Arabian Sea → Gujarat
• Construction timeline: 5–7 years after approval
• Expected completion: Around 2033–2035
• Depth: More than 3,000 metres below sea level
• The pipeline is designed to completely bypass the Strait of Hormuz and ensure uninterrupted energy supply.
• The Government of India has assigned feasibility and planning responsibilities to major public sector undertakings:
• GAIL – Lead operator and feasibility planner
• Engineers India Limited – Technical feasibility assessment
• Indian Oil Corporation – End-user and project participant
• GAIL is expected to play a central role as it manages more than 70 percent of India’s gas transmission network.
• The economic impact of the Hormuz crisis was severe for India:
• Around ₹62,500 crore losses in six weeks
• Nearly ₹1.98 lakh crore under-recoveries in the first quarter of 2026
• Daily losses of ₹1,600–1,700 crore for oil companies
• Despite the crisis, the government maintained stable fuel prices, increasing the fiscal burden on the economy.
• India’s decision is also influenced by infrastructure competition with China.
• Comparative infrastructure indicators:
• India’s gas pipeline network: 16,800 kilometres
• China’s gas pipeline network: More than 90,000 kilometres
• Natural gas share in energy mix: 6 percent in India and 9 percent in China
• India’s relatively lower gas usage and limited infrastructure highlight the need for expansion and diversification.
• A similar private sector proposal already exists under the South Asia Gas Enterprise pipeline project.
• Key details of the project include:
• Estimated cost of 5 billion United States dollars
• Capacity of 31 million metric standard cubic metres per day
• Potential annual savings of around ₹7,000 crore
• The government may use or integrate this existing proposal to reduce delays and avoid duplication.
• The pipeline is considered strategically important for India’s long-term energy policy.

RECENT NEWS

• Deepak Gupta has officially assumed the charge as the Chairman and Managing Director (CMD) of GAIL (India) Limited. He succeeding Sandeep Kumar Gupta who superannuated on February 28. 

Election Commission of India Begins Phase III of Special Intensive Revision

• The Election Commission of India has launched Phase III of the Special Intensive Revision across 16 States and 3 Union Territories to update electoral rolls.
• The exercise covers 36.73 crore voters and aims to ensure accurate, transparent, and updated electoral data before upcoming elections.
• The Special Intensive Revision is a detailed process conducted to:
• Update electoral rolls
• Add new eligible voters
• Remove duplicate or ineligible entries
• Correct voter details
• The revision process helps strengthen the credibility and transparency of the electoral system.
• Phase III involves:
• 36.73 crore electors
• Around 3.94 lakh Booth Level Officers
• Support from 3.42 lakh Booth Level Agents
• The exercise will cover almost the entire country except:
• Himachal Pradesh
• Jammu and Kashmir
• Ladakh
• The revision process is designed to be participative and transparent.
• Major steps in the process include:
• Preparation and training of officials
• House-to-house verification by Booth Level Officers
• Publication of draft electoral rolls
• Filing of claims and objections
• Publication of final electoral rolls
• During the enumeration phase, Booth Level Officers will conduct house-to-house visits to verify voter details and ensure the accuracy of electoral records.
• The initiative is expected to improve the accuracy of voter lists, remove irregularities, and strengthen the democratic process in India.

India Assumes Chair of Common Criteria Development Board for 2026–2028

• India has assumed the Chair of the Common Criteria Development Board for 2026–2028, marking a major achievement in the country’s global cybersecurity leadership.
• The decision was confirmed during the meeting of the Common Criteria Recognition Arrangement held in Tokyo, Japan, in April 2026.
• The Common Criteria Development Board is a major technical body responsible for developing and maintaining international cybersecurity evaluation standards.
• It functions under the Common Criteria Recognition Arrangement, a global framework that enables countries to mutually recognise Information Technology security certifications.
• Under this system, if a technology product receives certification in one member country, other participating countries can accept the same certification without conducting fresh security testing.
• This helps in making global trade in secure Information Technology products faster, smoother, and more reliable.
• The Common Criteria Development Board is responsible for:
• Developing technical standards for Information Technology product security evaluation
• Updating cybersecurity evaluation frameworks
• Providing security certification methodologies
• Its work directly influences how secure software, hardware, and digital systems are evaluated internationally.
• The Common Criteria Recognition Arrangement serves as an international framework promoting trust in certified digital products across borders.
• One of its important features is the Common Criteria Portal, which acts as the official global database for certified secure technology products.
• The portal is widely used by governments, businesses, and institutions to identify internationally trusted digital products.
• At present, the arrangement includes:
• 20 Certificate Authorising Nations, which can issue internationally recognised certifications
• 18 Certificate Consuming Nations, which accept and use those certifications
• India joined the Common Criteria Recognition Arrangement on 16 September 2013 as a Certificate Authorising Nation.
• India’s participation is represented through:
• The Ministry of Electronics and Information Technology
• The Standardisation Testing and Quality Certification Directorate, which is India’s official certification body for Information Technology security evaluations
• India’s appointment as Chair reflects its growing expertise in cybersecurity standards, secure technology evaluation, and digital trust infrastructure at the global level.

Lieutenant Governor Inaugurates High-Altitude Irrigation Canal in Changthang Region of Ladakh

• Lieutenant Governor of Ladakh Vinai Kumar Saxena inaugurated the Mahey Tokpo–Raldho irrigation canal in the remote Changthang region of Ladakh.
• The canal has been constructed at an elevation of more than 14,000 feet, making it a significant engineering achievement in the Himalayan region.
• The newly completed canal is 2.10 kilometres long and has been designed to bring water from Yaya Lake to agricultural fields in the Mahey area.
• The project aims to provide a reliable irrigation source for local communities living in one of India’s harshest environments.
• Farmers in Changthang have traditionally depended on:
• Seasonal glacier melt
• Traditional water channels
• Unpredictable water supply
• With increasing climate uncertainty and irregular glacier-fed water flow, dependable irrigation infrastructure has become essential.
• The canal is expected to support nearly 100 acres of agricultural land, improving water availability and agricultural productivity in the region.
• Changthang is one of Ladakh’s most remote and ecologically sensitive regions, where agriculture faces several challenges such as:
• Harsh climatic conditions
• High-altitude environment
• Short farming seasons
• Limited access to water
• The canal is expected to reduce dependence on uncertain glacier-fed irrigation systems and provide a more structured water distribution mechanism.
• The project was originally started during 2022–2023, but construction progress remained slow because of administrative challenges.
• By March 2026, only 1,250 metres of the canal had been completed.
• After assuming office on 13 March 2026, Lieutenant Governor Vinai Kumar Saxena reviewed the project and directed officials to speed up construction.
• Following this intervention, the remaining 850 metres were completed within two months.
• Constructing infrastructure in Changthang is highly challenging because of:
• Extreme weather conditions
• Low oxygen levels
• Mountainous terrain
• Logistical difficulties
• The canal has been built:
• Around 200 feet above the road level
• With a width and depth of 2 feet each
• Using Plain Cement Concrete lining and breast wall protection
• These features improve durability, slope stability, and resistance to harsh weather conditions.
• Along with the inauguration, the Lieutenant Governor also launched a plantation drive of 15,000 trees with participation from local villagers.
• The plantation initiative focuses on:
• Soil conservation
• Prevention of land erosion
• Slope stabilisation
• Ecological restoration
• Long-term environmental sustainability
• Such environmental measures are considered important for protecting fragile mountain ecosystems and improving land and water conservation in high-altitude regions.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Jio Platforms appoints Akash Ambani as Managing Director for a five-year term

• Jio Platforms Limited (JPL), the digital services arm of Reliance Industries Limited (RIL), has appointed Akash Ambani as its first Managing Director (MD) for a five-year term effective from 9 April 2026.
• Akash Ambani is the eldest son of Mukesh Ambani, Chairman and Managing Director (CMD) of Reliance Industries Limited.
• He joined the Board of Reliance Jio Infocomm Limited (RJIL) in October 2014 and has served as its Chairman since June 2022.
• He also serves as a Director on the board of Reliance Retail Ventures Limited (RRVL) and has contributed to India’s digital connectivity and data revolution.
• In the sports sector, Akash Ambani is the co-owner of Mumbai Indians, a five-time IPL champion franchise, and also promotes football through the Indian Super League (ISL).
• He was featured in the TIME100 Next 2022 list by TIME magazine, recognising him as one of the world’s rising leaders shaping the future through contributions to technology and business.

Yoweri Museveni sworn in as President of Uganda for a seventh consecutive term

• Yoweri Museveni, leader of the National Resistance Movement (NRM), was sworn in as the President of Uganda for a seventh term after winning the January 2026 presidential election.
• He took the oath of office at the Kololo Independence Grounds in Kampala, Uganda, in a ceremony featuring fly-pasts of Russian-made Sukhoi fighter jets.
• Museveni first came to power in 1986 as a rebel leader and has since won seven presidential elections, making him one of Africa’s longest-serving leaders.
• In the January 2026 election, Museveni secured over 71% of the vote, while opposition leader Bobi Wine received nearly 25% of the votes.
• The election was marked by reports of internet blackout and allegations of opposition intimidation during the electoral process.

About Uganda :

• Prime Minister : Robinah Nabbanja
• Capital : Kampala
• Currency : Ugandan shilling (UGX)

N. Rangasamy sworn in as Puducherry Chief Minister for fifth term after 2026 Assembly elections

• N. Rangasamy, leader of the All India N.R. Congress (AINRC) from Thattanchavady and Mangalam constituencies, was sworn in as the Chief Minister (CM) of Puducherry for a fifth term following the 2026 Assembly elections.
• With this achievement, N. Rangasamy became the first leader in the history of Puducherry to serve as Chief Minister for five terms.
• The oath of office and secrecy was administered by the Lieutenant Governor (LG) Kuniyil Kailashnathan at Lok Nivas, Puducherry.
• Along with the Chief Minister, two ministers—Malladi Krishna Rao (AINRC) and A. Namassivayam (BJP)—also took oath in the AINRC-led NDA government.
• In the 33-member Puducherry Legislative Assembly, the National Democratic Alliance (NDA) secured 18 seats, crossing the majority mark of 17 seats.
• Within the NDA, the AINRC won 12 seats, the BJP secured 4 seats, while the All India Anna Dravida Munnetra Kazhagam (AIADMK) and Latchiya Jananayaga Katchi (LJK) won 1 seat each.
• The Secular Progressive Alliance (SPA) secured 6 seats, with the Dravida Munnetra Kazhagam (DMK) emerging as the main opposition party with 5 seats, and the Indian National Congress (INC) reduced to 1 seat.
• The 2026 Puducherry Assembly elections recorded a historic voter turnout of 89.87%, the highest ever in the Union Territory’s electoral history.

 CURRENT AFFAIRS: MOUS AND AGREEMENT

Afghanistan Signs 46 Million Dollar Deal with Indian Company for Customs Infrastructure

• The Taliban administration in Afghanistan has signed a 46 million United States dollar agreement with Indian company TCRC to develop customs laboratory infrastructure across Afghanistan.
• The project aims to improve trade quality checks, customs inspection systems, and technical capacity in the country.
• The agreement was signed between the Taliban’s economic office and TCRC.
• Major features of the project include:
• Establishment of laboratory centres in Kabul and nine customs facilities
• Project duration of five years
• Installation of advanced laboratory equipment
• Repair and upgrading of existing systems
• Deployment of foreign technical experts
• The initiative is intended to strengthen Afghanistan’s customs inspection and trade regulation framework.
• The primary objective of the agreement is to improve the quality control of imports and exports.
• Key focus areas include:
• Enhancing product testing and certification systems
• Strengthening the Afghanistan Standards and Quality Authority
• Improving Afghanistan’s trade credibility in international markets
• Efficient customs laboratories help ensure that exported and imported goods meet global quality standards, which is important for increasing exports and improving foreign trade.
• The agreement also includes a strong focus on training and skill development for local personnel.
• Planned initiatives include:
• Training programmes for Afghan technical staff
• Exposure to international laboratory practices
• Collaboration with foreign specialists
• Efforts will also be made to obtain certification from the International Organization for Standardization, which would improve Afghanistan’s credibility in global trade systems.
• While the project is expected to modernise customs infrastructure and improve trade systems, concerns remain regarding transparency, governance, and implementation challenges in Afghanistan.

CURRENT AFFAIRS: RANKING AND INDEX

India’s Passport Ranked 78th in Henley Passport Index 2026

• India’s passport has been ranked 78th in the Henley Passport Index 2026, slipping from its earlier 75th position.
• According to the latest ranking, Indian passport holders have access to 56 destinations through visa-free entry, visa-on-arrival, or simplified visa procedures.
• The Henley Passport Index is one of the world’s most recognised passport rankings.
• It ranks 199 passports globally using data from the International Air Transport Association.
• The ranking is based on the number of destinations a passport holder can access without requiring a prior visa.
• A higher ranking indicates greater travel freedom, while a lower ranking reflects stricter visa restrictions.
• India’s current passport status includes:
• Rank in 2026: 78
• Previous rank: 75
• Access to 56 destinations
• Despite the recent decline, India’s passport ranking has improved over the long term:
• 85th rank in 2025
• 90th rank in 2021, which was its lowest position
• For Indian travellers, the impact of the ranking decline is limited, as there is no major reduction in travel access.
• Indian citizens continue to benefit from:
• Visa-free travel
• Visa-on-arrival facilities
• Electronic visa options
• However, compared to top-ranked passports, Indian travellers may still face:
• More documentation requirements
• Longer visa processing times
• Limited flexibility for last-minute travel plans
• Countries offering easier access to Indian passport holders include:

Visa-Free Destinations

• Bhutan
• Nepal
• Fiji
• Malaysia

Visa-on-Arrival Destinations

• Maldives
• Indonesia
• Sri Lanka
• Cambodia
• The strongest passports in the 2026 rankings are:
• Singapore – Rank 1 with access to 192 destinations
• Japan – Rank 2
• South Korea – Rank 3
• Countries at the lower end of the rankings include Afghanistan, Syria, Iraq, and Pakistan, which have limited travel access globally.
• Passport rankings are considered important because they reflect a country’s:
• Diplomatic relations
• Economic stability
• Global trust and security perception
• A stronger passport generally provides easier travel, reduced paperwork, and wider international mobility, while weaker passports face stricter visa controls and higher documentation requirements.
• India’s passport has shown fluctuations over the years:
• Best rank: 71 in 2006
• Lowest rank: 90 in 2021
• The overall trend indicates gradual improvement in India’s global mobility standing.

CURRENT AFFAIRS : DEFENCE NEWS

Raksha Mantri and Andhra Pradesh Chief Minister lay foundation stones for Advanced Medium Combat Aircraft Core Integration & Flight Testing Centre and Naval Systems Manufacturing Facility

• Raksha Mantri Rajnath Singh and Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stones and presided over grounding ceremonies of strategic aerospace and defence projects at Puttaparthi, Sri Sathya Sai district, Andhra Pradesh.
• The foundation stone was laid for the Core Integration & Flight Testing Centre at Puttaparthi, aimed at accelerating the development of the Fifth-Generation Advanced Medium Combat Aircraft (AMCA) and other indigenous aircraft platforms.

Key Highlights :

• The AMCA programme has a total outlay of around ₹15,000 crore, while the Core Integration & Flight Testing Centre of the Aeronautical Development Agency (ADA) under DRDO is being established at a cost of approximately ₹2,000 crore.
• The facility will enable India to join the select group of nations capable of developing and testing fifth-generation fighter aircraft domestically, strengthening Aatmanirbhar Bharat in defence aviation.
• The Naval Systems Manufacturing Facility at Sirasapalli village, Anakapalli district, is a ₹480 crore project of Bharat Dynamics Limited (BDL) focused on autonomous underwater vehicles, underwater counter-measure systems, and next-generation torpedoes.
• This facility will produce critical defence components and sub-systems currently imported, thereby enhancing India’s naval self-reliance and maritime security capability.
• The project is expected to strengthen the Indian Navy’s operational capability and contribute to the growth of India’s Blue Economy and maritime defence ecosystem.
• The Defence Energetics Facility of Agneyastra Energetics Limited (subsidiary of Bharat Forge Limited) is being set up with an investment of around ₹1,500 crore to support advanced defence weapon systems production.
• The Ammunition and Electric Fuse Plant of HFCL Limited is being established with an investment of around ₹1,200 crore, focusing on critical ammunition fuse manufacturing.
• The project aims to strengthen India’s self-reliance in ammunition production, as fuses are a critical component of defence weapon systems, enhancing the effectiveness of armed forces operations.
• The Chief Minister of Andhra Pradesh promoted the vision of “Design-in-Andhra Pradesh, Make-in-Andhra Pradesh, Lead-from-Andhra Pradesh”, ensuring full state government support for industrial growth.
• Andhra Pradesh is being developed with the pillars of Innovation, Infrastructure, and Industrialisation, positioning the state as a key driver in India’s march towards Viksit Bharat 2047.

CURRENT AFFAIRS : ENVIRONMENT

Zoological Survey of India discovers two new spider species in Nagaland and completes revision of Indian whip scorpions after 100 years

• The Zoological Survey of India (ZSI) has discovered two new spider species named Psechrus ntu and Psechrus phenshunyu in Nagaland.
• The findings were published in the international scientific journal Zootaxa.
• The newly identified spider species were named after Ntu village and Phenshunyu village in Nagaland, highlighting Northeast India as an important biodiversity hotspot.
• Both newly discovered species belong to the genus Psechrus under the family Psechridae.
• The species Psechrus himalayanus was also recorded in the region for the first time.
• The ZSI also completed the first comprehensive taxonomic revision of Indian whip scorpions (Thelyphonids) in more than 100 years.
• Whip Scorpions, also known as Vinegaroons, are non-venomous arachnids that are different from true scorpions.
• They are characterised by whip-like tails (flagella), enlarged pedipalps used for catching prey, and a defensive spray mechanism that releases an acetic acid-like substance.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India’s SVAMITVA scheme recognised as a model for developing countries

• The Indian Institute of Management Ahmedabad (IIM-A) presented the SVAMITVA scheme as a successful governance and rural property mapping model to the World Bank.
• The presentation highlighted how the SVAMITVA scheme has strengthened rural property ownership documentation and significantly reduced land-related disputes across villages in India.

Key Highlights :

• Under the scheme, drone-based surveys have been conducted in approximately 3.3 lakh villages, out of a target of 3.44 lakh villages across the country.
• Launched in April 2020, SVAMITVA (Survey of Villages and Mapping with Improvised Technology in Village Areas) provides legal ownership rights of rural residential land using drone-based mapping technology.
• The scheme is implemented by the Ministry of Panchayati Raj, with support from the Survey of India and NICSI (National Informatics Centre Services Inc.).
• The objective of the SVAMITVA scheme is to empower rural citizens through property cards, enabling access to credit facilities, dispute resolution, and improved village-level planning.
• According to the study presented by IIM Ahmedabad, the scheme is a landmark reform in rural land governance in India and has the potential to become a global model for replication.
• The scheme uses drone-based aerial surveys and a nationwide Continuously Operating Reference Station (CORS) network to create accurate and legally recognised property records for rural inhabited (abadi) areas.
• The scheme is supported by Central funding of over ₹472 crore up to FY26, extended till 30 September 2026.
• Under SVAMITVA, drone surveys have covered about 70,000 square kilometres of abadi land across India.
• The issuance of property cards has increased significantly, from 7,440 villages in FY21 to 1.89 lakh villages by FY26.
• Around 3.14 crore property cards have been issued, and the number is expected to reach 4 crore by September 2026, ensuring formal ownership documentation for rural households.
• The scheme has achieved saturation in several states and UTs, including Andhra Pradesh, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Kerala, Assam, Arunachal Pradesh, Odisha, Jammu & Kashmir, Delhi, Mizoram, Ladakh, Haryana, Uttarakhand, Puducherry, Goa, Tripura, Dadra & Nagar Haveli and Daman & Diu, Lakshadweep, and Andaman & Nicobar Islands.

 CURRENT AFFAIRS: SPORTS NEWS

Sahdev Yadav Elected President of South Asian Weightlifting Federation

• Sahdev Yadav has been elected as the President of the South Asian Weightlifting Federation.
• His election is seen as a significant step in strengthening India’s leadership in South Asian sports governance and promoting regional cooperation in weightlifting.
• Sahdev Yadav, who currently heads the Indian Weightlifting Federation, was elected unopposed during the federation elections.
• He was elected unanimously as President of the South Asian Weightlifting Federation.
• His appointment reflects India’s growing influence in regional sports organisations and is expected to enhance collaboration among South Asian countries.
• Sahdev Yadav already holds several important positions in international sports administration, including:
• Treasurer of the Indian Olympic Association
• Vice President of the Commonwealth Weightlifting Federation
• Assistant to the President of the Asian Weightlifting Federation
• These roles highlight his extensive administrative experience and international exposure in sports governance.
• Sabina Yadav has also been appointed as the Chief Executive Officer of the South Asian Weightlifting Federation.
• She serves as a member of the Innovation Committee of the International Weightlifting Federation and Joint Secretary of the Indian Weightlifting Federation.
• Her appointment is expected to improve administrative efficiency and encourage innovation within the federation.
• The South Asian Weightlifting Federation plays an important role in:
• Promoting regional weightlifting tournaments and competitions
• Developing young athletes across South Asia
• Strengthening cooperation among member countries
• The federation also acts as a platform to prepare athletes for major international events such as the Olympic Games and the Commonwealth Games.

Daily CA One- Liner: May 16

• The Directorate General of Foreign Trade (DGFT) has tightened regulations for duty-free gold imports under the Advance Authorisation (AA) scheme for the gems and jewellery sector.
• The Reserve Bank of India (RBI) has removed the requirement of prior approval for non-bank entities (fintechs) to enter into tie-up arrangements for enabling outward remittance services through banks in India.
• The Securities and Exchange Board of India (SEBI) has proposed allowing select agricultural commodity derivatives contracts to be initially financially settled before transitioning to compulsory physical settlement.
• India’s retail inflation (CPI) rose to 3.48% in April, marking a 14-month high, primarily due to increased prices of food items, gold, and silver.
• CTBC Bank Co. Ltd. has opened its new branch at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat, becoming the first Taiwanese bank to establish presence in India’s International Financial Services Centre (IFSC).
• The Reserve Bank of India (RBI) informed the Supreme Court that 30 banks have been integrated into the UDGAM portal to help legal heirs trace unclaimed funds of deceased account holders.
• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) has revised the release schedule for India’s Annual Gross Domestic Product (GDP) and Fourth Quarter (Q4) GDP estimates.
• Jio Platforms Limited (JPL), the digital services arm of Reliance Industries Limited (RIL), has appointed Akash Ambani as its first Managing Director (MD) for a five-year term effective from 9 April 2026.
• Yoweri Museveni, leader of the National Resistance Movement (NRM), was sworn in as the President of Uganda for a seventh term after winning the January 2026 presidential election.
• N. Rangasamy, leader of the All India N.R. Congress (AINRC) from Thattanchavady and Mangalam constituencies, was sworn in as the Chief Minister (CM) of Puducherry for a fifth term following the 2026 Assembly elections.
• Raksha Mantri Rajnath Singh and Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stones and presided over grounding ceremonies of strategic aerospace and defence projects at Puttaparthi, Sri Sathya Sai district, Andhra Pradesh.
• The Zoological Survey of India (ZSI) has discovered two new spider species named Psechrus ntu and Psechrus phenshunyu in Nagaland.
• The Indian Institute of Management Ahmedabad (IIM-A) presented the SVAMITVA scheme as a successful governance and rural property mapping model to the World Bank.
• India is planning to construct a ₹40,000 crore subsea gas pipeline connecting Oman and Gujarat to strengthen long-term energy security.
• The Election Commission of India has launched Phase III of the Special Intensive Revision across 16 States and 3 Union Territories to update electoral rolls.
• Lieutenant Governor of Ladakh Vinai Kumar Saxena inaugurated the Mahey Tokpo–Raldho irrigation canal in the remote Changthang region of Ladakh
• India has assumed the Chair of the Common Criteria Development Board for 2026–2028, marking a major achievement in the country’s global cybersecurity leadership
• The Taliban administration in Afghanistan has signed a 46 million United States dollar agreement with Indian company TCRC to develop customs laboratory infrastructure across Afghanistan
• India’s passport has been ranked 78th in the Henley Passport Index 2026, slipping from its earlier 75th position
• Sahdev Yadav has been elected as the President of the South Asian Weightlifting Federation.