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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India decides against activating Countercyclical Capital Buffer at present

• The Reserve Bank of India (RBI) has decided not to activate the Countercyclical Capital Buffer (CCyB) at present, stating that current economic and banking conditions do not require its implementation.
• The decision was taken after RBI reviewed key CCyB indicators, especially the credit-to-GDP gap, which is the primary indicator for assessing systemic credit risk in the economy.
• The Countercyclical Capital Buffer (CCyB) is a macro-prudential regulatory tool used in the banking system.
• CCyB requires banks to build additional capital buffers during periods of strong credit growth and favourable economic conditions.
• The main objective of CCyB is to ensure banks accumulate sufficient capital during good economic times so that they can continue lending during financial stress or economic downturns.
• Another key objective is to prevent excessive and indiscriminate lending during periods of rapid credit expansion, thereby helping to reduce system-wide financial risks.
• RBI stated that CCyB can be activated as a pre-announced measure whenever warranted by economic conditions.
• After review and empirical analysis of indicators, RBI concluded that it is not necessary to activate CCyB at this point in time..

Department of Financial Services Organises Workshop on Insolvency and Bankruptcy (Amendment) Act, 2026

• The Department of Financial Services (DFS), Ministry of Finance organised a half-day workshop on the Insolvency and Bankruptcy (Amendment) Act, 2026 in New Delhi.
• The workshop was chaired by Shri M. Nagaraju, Secretary, DFS, and attended by senior officials from the Ministry of Corporate Affairs (MCA), Insolvency and Bankruptcy Board of India (IBBI), legal experts, and representatives of public sector banks and financial institutions including NARCL, IDRCL, and ASREC (India) Limited.
• The main objective of the workshop was to deliberate on the impact of recent amendments to the Insolvency and Bankruptcy Code (IBC) on the banking sector and to strengthen stakeholder understanding of its implementation framework.
• It was highlighted that till December 2025, more than 8,800 Corporate Insolvency Resolution Processes (CIRPs) had been admitted under the IBC, reflecting large-scale use of the insolvency resolution system.
• Under the Code, creditors have realised over ₹4.11 lakh crore through approved resolution plans, indicating significant recovery of stressed assets.
• More than 4,000 corporate debtors have been successfully resolved through resolution, settlements, withdrawals, or appeal-related closures, improving overall asset recovery outcomes.
• The workshop emphasized the importance of ensuring effective and timely resolution of stressed assets to strengthen financial stability.
• It concluded that the reforms align with the Government’s vision of a strong, transparent, and efficient financial system, supported by a robust insolvency resolution framework.

SBI Ventures appointed to manage ₹20,000 crore Maritime Investment Fund

• The Government of India selected SBI Ventures as the fund manager for the ₹20,000-crore Maritime Investment Fund (MIF) to promote investment in India’s maritime sector.

Key Highlights :

• The Maritime Investment Fund (MIF) is a major component of the ₹25,000-crore Maritime Development Fund approved by the Union Cabinet.
• The Central Government will contribute ₹9,800 crore (49%) through budgetary support for the fund.
• The remaining 51% of the corpus will be mobilised from private investors, sovereign wealth funds, institutional investors, CPSEs, PSUs and major port authorities through a blended finance model.
• The fund will be registered as a closed-end Category I/II Alternative Investment Fund (AIF) under the Securities and Exchange Board of India (SEBI).
• The Maritime Investment Fund may establish multiple sub-funds focusing on different segments of the maritime industry.
• SBI Ventures was selected through a competitive bidding process, defeating a consortium of Indian Infrastructure Finance Company Limited and Climate Fund Managers.
• The fund manager may establish feeder funds and co-investment vehicles in GIFT City under the International Financial Services Centres Authority (IFSCA) framework to attract global investments.
• The first funding close is targeted within 12 months of SEBI registration with an initial corpus of at least ₹5,000 crore.
• The final funding close is expected within 36 months, with an investment period of 5–8 years for maritime infrastructure projects.

Mahindra & Mahindra and DBS Bank India launch India’s first sustainability-linked dealer financing programme

• Mahindra & Mahindra and DBS Bank India signed an Memorandum of Understanding (MoU) to launch India’s first sustainability-linked dealer financing programme in the automotive sector on 19 May 2026.
• The programme links loan interest rates for authorised Mahindra dealers to their environmental, social and governance (ESG) performance along with sales targets.
• Dealers will be assessed under Mahindra’s Green Dealership Programme based on key ESG parameters such as greenhouse gas emissions, water consumption, renewable energy usage, rainwater harvesting, waste management, EV charging infrastructure, and eSUV sales volume.
• Dealers meeting defined sustainability thresholds will receive preferential interest rates on loans used for purchasing passenger and commercial vehicles.
• The ESG metrics for the programme were jointly designed by Mahindra & Mahindra and DBS Bank India to ensure a structured sustainable financing framework.
• The initiative focuses on addressing Scope 3 emissions, which are indirect emissions across the value chain including dealers and distributors, supporting overall decarbonisation efforts.
• The programme represents a model of sustainability-linked financing, where credit terms are tied to measurable performance indicators.
• This initiative aims to integrate climate responsibility into automotive financing and promote green dealership practices across the network.
• DBS Bank India operates as a banking subsidiary of DBS Group, while Mahindra & Mahindra is an Indian automobile manufacturer engaged in passenger vehicles, commercial vehicles and electric mobility.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Uttarakhand Plans ₹450 Crore Ropeway Between Rishikesh and Neelkanth Mahadev Temple

• The Government of Uttarakhand has planned a ₹450 crore ropeway project connecting Rishikesh to the famous Neelkanth Mahadev Temple.
• The proposed ropeway will cover a distance of around 6.5 kilometres and is expected to reduce travel time from nearly three hours to just 15 minutes.
• The ropeway alignment will begin from the Tapovan area in Rishikesh and connect directly to the Neelkanth Mahadev Temple, which is an important pilgrimage site dedicated to Lord Shiva.
• At present, pilgrims either travel through a winding 30-kilometre mountain road route or trek around 9 kilometres through forest terrain to reach the temple.
• The project is considered important because religious tourism plays a major role in Uttarakhand’s economy. The temple attracts thousands of devotees every year, especially during:
• Shravan month
• Mahashivratri
• Other major Hindu festivals
• The ropeway project is expected to provide:
• Faster and easier temple access
• Reduced road traffic congestion
• Better travel facilities for senior citizens and families
• Boost to tourism-related economic activity
• Reduced pressure on forest trekking routes
• One of the major highlights of the project is its wildlife-sensitive design. The route passes near the Rajaji Tiger Reserve and ecologically sensitive forest areas close to the Ganga river ecosystem.
• To protect the fragile environment, authorities have included wildlife-friendly safeguards and planned the alignment carefully to minimise ecological disruption.
• The involvement of the National Board for Wildlife is important because infrastructure projects near protected forest habitats require strict environmental clearances and scrutiny.
• The Neelkanth Mahadev Temple is located at an altitude of around 1,330 metres and is surrounded by dense forests and mountains.
• According to Hindu mythology, the temple marks the sacred place where Lord Shiva consumed the poison that emerged during the Samudra Manthan, after which his throat turned blue, giving him the name Neelkanth.

RECENT NEWS

• The State of Uttarakhand has taken another decisive step in reforming its civil law framework by strengthening the Uniform Civil Code through fresh amendments. The move aims to make the law more practical, transparent and citizen-friendly, while reinforcing equality and digital governance in civil matters across the state. 

About Uttarakhand:

• Chief Minister: Pushkar Singh Dhami
• Governor: Gurmit Singh
• Capital: Dehradun
• National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park, Gangotri National Park, Valley of Flowers National Park
• Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

Maharashtra Leads in Central Government Infrastructure Projects Across India

• India is witnessing rapid infrastructure expansion through major Central  Government projects across sectors such as highways, railways, airports, industrial corridors, ports, energy, and urban development.
• According to recent data, Maharashtra ranks first in the country in terms of the number of Central Government projects.
• The state currently has 215 projects with an estimated investment of around ₹5.5 trillion.
• Uttar Pradesh ranks second with 180 projects worth approximately ₹4.3 trillion. Major infrastructure growth in the state includes expressways, railway expansion, and defence corridor projects.
• Andhra Pradesh holds the third position with 141 projects valued at around ₹2.1 trillion.
• Gujarat ranks fourth with 127 projects and investment value of nearly ₹4.3 trillion. The state remains a major hub for manufacturing, petrochemicals, logistics, and port-led development.
• Madhya Pradesh and Bihar each have 125 projects, reflecting rising infrastructure development in central and eastern India.
• Karnataka has 121 projects worth around ₹2 trillion, while Odisha and Jharkhand are witnessing major investments in mining, railways, energy, and industrial infrastructure.
• Among northeastern states, Assam leads with 89 projects worth around ₹1.2 trillion.
• Maharashtra’s leadership is supported by its strong industrial ecosystem, port connectivity, financial importance, and urban infrastructure development.
• Overall, infrastructure projects worth nearly ₹42 trillion across India are expected to play a major role in the country’s long-term economic transformation.

RECENT NEWS

• The Maharashtra government has approved the Compressed Biogas (CBG) Policy 2026 to promote renewable energy generation through waste management and agricultural residue processing. The policy was approved by the Maharashtra Cabinet on April 22, 2026, and officially released on May 5, 2026.

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

Delhi Airport to Launch Automated Air Train Project by 2029

• Indira Gandhi International Airport (IGI Airport), New Delhi is set to launch its first automated air train system by 2029 to improve passenger movement across the airport.
• The project will be developed by Delhi International Airport Limited (DIAL) with an estimated investment of around ₹3,000 crore to ₹4,000 crore.
• The Automated People Mover (APM) system will connect major airport locations including:
• Terminal 1
• Terminal 2
• Terminal 3
• Aerocity
• Cargo City
• The complete air train corridor will cover around 7.7 kilometres and is aimed at providing faster, smoother, and seamless terminal transfers for passengers.
• Initially, DIAL had planned to implement the project through a concessionaire model by appointing a private operator. However, after limited response from bidders, DIAL decided to directly fund the project through its own resources.
• The airport operator plans to recover project costs through airport tariffs and other commercial revenue channels.
• One of the major features of the project is that the service is expected to be free for transit passengers. Travelers will be able to access the system by scanning their boarding passes while transferring between terminals.
• During peak transit periods, the system may operate in an express mode, allowing direct movement between terminals without stopping at Aerocity or Cargo City. This is expected to help passengers with tight flight connections.
• The project is considered significant because it will be the first airport air train system in India, bringing global-standard airport connectivity infrastructure to Delhi Airport.
• DIAL has reportedly studied international airport transit systems from countries such as:
• South Korea
• Indonesia (Jakarta)
• Italy
• Switzerland
• International companies are expected to provide the train technology and rolling stock, while Indian infrastructure firms may handle track construction and station development.
• The project is expected to improve overall passenger convenience, reduce transfer time between terminals, and strengthen Delhi Airport’s position as a major international aviation hub.

RECENT NEWS

• Sanjay Seth will inaugurate India’s first International Ophthalmology Research Conference in New Delhi on May 9 and 10, 2026. The conference, titled All-India Ophthalmological Society – Armed Forces Ophthalmology Update (AIOS-AFOU 2026), will be organised by the Department of Ophthalmology at Army Hospital (Research & Referral) in collaboration with the All India Ophthalmological Society

About Delhi:

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Taranjit Singh Sandhu
• Capital: New Delhi
• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli Biodiversity Park

West Bengal Approves 7th Pay Commission for State Employees and Pensioners

• The Government of West Bengal has approved the implementation of the 7th Pay Commission for state government employees and pensioners. The decision was taken during a Cabinet meeting chaired by Chief Minister Suvendu Adhikari.
• The revised pay structure is expected to benefit lakhs of employees working in state government departments, boards, corporations, aided institutions, and educational bodies.
• Pensioners are also likely to receive revised pension benefits under the new pay structure.
• The most important factor still awaited is the fitment factor, which will determine the actual increase in salaries and pensions. A fitment factor is the multiplier used to revise the existing basic pay of employees.
• For example, if an employee’s current basic salary is ₹20,000:
• With a 2.0 fitment factor, revised salary becomes ₹40,000.
• With a 2.25 fitment factor, revised salary becomes ₹45,000.
• With a 2.5 fitment factor, revised salary becomes ₹50,000.
• During the previous pay revision, West Bengal had used a 2.57 fitment factor under the 6th Pay Commission. This time, discussions suggest a possible range between 2.0 and 2.5, but the final figure has not yet been officially announced.
• Estimated salary revisions across different pay levels are being discussed.
• A Level-1 employee currently earning around ₹17,000 basic pay could see the revised pay rise between ₹34,000 and ₹42,500 depending on the approved fitment factor.
• Similarly, a Level-10 employee with a current basic pay of ₹32,100 may receive revised pay ranging from ₹64,200 to ₹80,250. Senior-level employees could witness even larger increases if a higher multiplier is approved.
• West Bengal had earlier implemented the 6th Pay Commission in 2019 with retrospective effect from 1 January 2016.

RECENT NEWS

• The Government of West Bengal has signed a memorandum of understanding (MoU) with German development agency GIZ and the State Mission for Clean Ganga (SMCG) to prepare basin-based masterplans for the Ichhamati and Jalangi rivers. 

About West Bengal:

• Chief Minister: Suvendu Adhikari
• Governor: R. N. Ravi
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
• Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

India Notifies E30 Petrol Standards, Signalling Next Phase of Ethanol Blending Policy

• India has officially notified new fuel standards for higher ethanol-blended petrol, including E22, E25, E27, and E30, marking a major step in the country’s clean energy and biofuel transition.
• The new standards have been notified by the Bureau of Indian Standards for petrol blended with up to 30% ethanol for use in petrol engine vehicles.
• E30 fuel means petrol containing 30% ethanol and 70% conventional gasoline. Similarly, E20 contains 20% ethanol blended with petrol.
• Ethanol is an alcohol-based biofuel generally produced from agricultural feedstocks such as sugarcane, maize, and biomass materials.
• The notification is currently a preparatory regulatory step and does not mean that E30 petrol will be immediately launched across fuel stations in India.
• The move signals the Government of India’s long-term roadmap beyond the existing E20 ethanol blending programme and reflects confidence in expanding biofuel adoption further.
• India had originally targeted 20% ethanol blending by 2030, but due to rapid progress, the target timeline was advanced to 2025-26.
• The ethanol blending programme is aimed at reducing India’s dependence on imported crude oil and strengthening domestic energy security.
• Automobile manufacturers are already working on developing flex-fuel vehicles, which are capable of operating on multiple ethanol blend levels.
• The government is also evaluating the future possibility of E85 fuel, which contains 85% ethanol, although such adoption would require more advanced infrastructure and a stronger flex-fuel vehicle ecosystem.

Indian Railways Approves ₹238 Crore Upgrade for Jammu–Shri Mata Vaishno Devi Katra Rail Section

• Indian Railways has approved a ₹238 crore infrastructure and safety upgrade project for the Jammu–Shri Mata Vaishno Devi Katra rail section under the Northern Railway Zone.
• The project aims to improve passenger safety, operational reliability, and long-term infrastructure resilience on this strategically important railway route in Jammu and Kashmir.
• The approved works include slope stabilisation, tunnel rehabilitation, seepage treatment, and bridge protection measures in vulnerable sections of the route.
• Additional safety interventions will also be implemented at identified high-risk locations to strengthen railway operations in difficult mountainous terrain.
• The Jammu–Katra railway section passes through challenging geological regions with unstable slopes, harsh weather conditions, and difficult rock formations, which can impact railway safety and infrastructure durability.
• The project is expected to reduce risks related to landslides, tunnel damage, seepage issues, and environmental threats affecting train movement and railway infrastructure.
• The Jammu–Shri Mata Vaishno Devi Katra rail route is one of the most important pilgrimage railway corridors in India, connecting lakhs of devotees to the Shri Mata Vaishno Devi shrine every year.
• Apart from religious tourism, the route also holds strategic importance for regional connectivity, transportation, and logistics in Jammu and Kashmir.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reserve Bank of India appoints Shri Gunveer Singh as Executive Director

• The Reserve Bank of India (RBI) appointed Shri Gunveer Singh as Executive Director (ED) with effect from 18 May 2026, marking a key leadership change in the central bank.
• Prior to his promotion, Shri Gunveer Singh served as Chief General Manager-in-Charge of the Department of Payment and Settlement Systems (DPSS) at RBI.
• He has over three decades of experience in RBI, working in areas such as payment and settlement systems, banking supervision, non-banking supervision, risk monitoring and government banking.
• Shri Singh has also served internationally as a payment systems expert at the Central Bank of Oman, providing him exposure to cross-border payment frameworks and regulatory practices.
• As Executive Director, he will be responsible for overseeing the Department of Payment and Settlement Systems (DPSS).
• The DPSS plays a crucial role in regulating payment system operators, ensuring technical and security standards, and promoting interoperability among banks and non-bank entities.
• His appointment is expected to support RBI’s efforts in modernising retail and wholesale payment systems, strengthening settlement infrastructure, and improving risk management frameworks.
• Shri Gunveer Singh is a Chartered Accountant (CA) and a Cost and Works Accountant (CWA), reflecting his strong professional and financial expertise.

Ali Falih Kadhim al-Zaidi becomes Iraq’s youngest Prime Minister after taking oath of office

• Ali Falih Kadhim al-Zaidi was sworn in as the new Prime Minister (PM) of Iraq and Commander-in-Chief of Iraq’s Armed Forces.
• Ali Falih Kadhim al-Zaidi was nominated by the Coordination Framework political alliance.
• At the age of 40 years, al-Zaidi became the youngest Prime Minister in Iraq’s modern history.
• The official swearing-in ceremony was held in Baghdad, Iraq.
• Outgoing Prime Minister Mohammed Shia al-Sudani formally transferred power to the new administration.
• The Iraqi Parliament session was chaired by Haibet al-Halbousi.
• The Parliament approved 14 out of 23 ministerial positions along with the government program.
• The parliamentary session was attended by 266 lawmakers.
• Approval of the remaining ministerial portfolios was delayed due to ongoing political negotiations.
• Cabinet formation in Iraq generally involves coalition bargaining among political blocs.

About Iraq :

• Capital : Baghdad
• Currency : Iraqi dinar

CURRENT AFFAIRS : DEFENCE NEWS

Tonbo Imaging secures Indian Navy contract under ADITI 3.0 framework

• Tonbo Imaging, a Bengaluru-based defence technology company, has secured a contract from the Indian Navy under the ADITI 3.0 innovation framework on 19 May 2026.
• The contract involves integration and commissioning of a High Power Microwave (HPM) system for naval platforms, strengthening India’s indigenous defence capabilities.
• The project is supported under the Ministry of Defence’s iDEX initiative (Innovations for Defence Excellence) and the Defence Innovation Organisation (DIO)
• High Power Microwave (HPM) systems are directed-energy weapons that use electromagnetic energy to disable or degrade electronic systems, sensors and unmanned platforms, especially useful in counter-drone and maritime threat scenarios.
• The selection of Tonbo Imaging under ADITI 3.0 highlights India’s focus on developing indigenous strategic defence technologies aligned with naval modernisation needs.
• The company will handle system integration, commissioning, validation and delivery of production units, acting as an indigenous technology partner for naval directed-energy capability.
• Tonbo Imaging is engaged in designing and developing advanced sensing, electro-optics, thermal imaging, embedded systems and mission-critical defence technologies for land, air and maritime applications.
• The company has secured multiple defence contracts, including a ₹37.28 crore deal for Indian Army SIG Sauer thermal sights, an NSG submachine gun sights contract, and indigenisation of missile seekers for Bharat Dynamics Ltd.
• It has also contributed to upgrading BMP-2 infantry vehicle electro-optics and supplying Arjun tank vision sensors, supporting India’s defence manufacturing ecosystem.
• The broader ecosystem includes key defence R&D institutions such as the Defence Research and Development Organisation (DRDO) Microwave Tube Research and Development Centre in Bengaluru, contributing to India’s defence innovation landscape.

India receives fourth squadron of S-400 Triumf air defence system

• India is set to receive the fourth squadron of the Russian-origin S-400 Triumf, strengthening its air defence capabilities.
• The S-400 system is part of a $5.43 billion agreement signed in 2018 between India and Russia for the procurement of five S-400 squadrons.
• The S-400 Triumf is a long-range surface-to-air missile system designed to intercept and destroy aircraft, cruise missiles and ballistic missiles at multiple ranges and altitudes.
• The system is operated by the Indian Air Force (IAF) for strategic air defence deployment across key regions.
• The delivery schedule was originally targeted for completion by 2023, but faced delays due to the Russia–Ukraine conflict and global supply chain disruptions.
• The fourth S-400 unit was inspected by Indian Air Force personnel in Russia by mid-April 2026 before being transported to India via sea and air routes.
• The fourth squadron is expected to be deployed in Rajasthan, providing long-range air defence coverage along the western frontier.
• The fifth and final squadron under the original contract is expected by November 2026 and is likely to be deployed along the northern border with China.
• The system is also popularly referred to as the “Sudarshan Chakra”, highlighting its role in India’s multi-layered air defence network.
• In March 2026, the Defence Acquisition Council (DAC) approved an additional five S-400 systems, which could expand India’s total inventory to 10 squadrons in the future.

Larsen & Toubro Limited Enters Strategic Tie-Up with France’s Exail Technologies to Develop Unmanned Mine Countermeasure Systems for Indian Navy

• Larsen & Toubro Limited (L&T) has entered into a strategic partnership with France-based Exail Technologies to deliver advanced Unmanned Mine Countermeasure (MCM) systems for the Indian Navy (IN).
• The collaboration will provide an Unmanned MCM Suite featuring autonomous and remotely operated systems for the safe detection, identification, and neutralisation of naval mines.
• Under the agreement, L&T will act as the Prime Contractor and will offer the Unmanned MCM Suite to shipyards involved in the Indian Navy’s proposed programme for 12 Mine Counter Measure Vessels.
• Exail Technologies will serve as the Technology Partner, contributing its expertise in advanced unmanned maritime systems.
• The partnership will ensure the deployment of Exail’s globally proven MCM technologies, which are already operational with several navies worldwide.
• These technologies have been validated through extensive real-world deployments, ensuring high reliability and effectiveness in naval mine warfare operations.

About Larsen & Toubro Limited :

• Headquarters : Mumbai, Maharashtra
• MD & CEO : Sekharipuram Narayanan Subrahmanyan

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Nanogold-Embedded Ultrathin Flexible Films Enable Self-Powered Sensors and Advanced Wearable Electronics

• Researchers have developed a new ultrathin flexible film capable of efficiently converting tiny temperature fluctuations into electrical signals, enabling applications in smart photodetectors, low-grade heat harvesters, and flexible electronic systems.
• The innovation supports growing demand for lightweight, flexible, and low-power materials for next-generation wearable devices and autonomous sensors used in healthcare, environmental monitoring, and energy-efficient electronics.
• Earlier systems based on plasmonic-pyroelectric and PVDF composites improved thermal-to-electrical conversion, but relied on micron-thick structures and less controlled interfaces, limiting use in ultrathin flexible electronics.
• There is increasing research focus on combining plasmonic effects with pyroelectric polymers to develop self-powered, high-speed devices that respond to both thermal and optical stimuli.
• Scientists from the Institute of Nano Science and Technology (INST), Mohali, an autonomous institute under the Department of Science & Technology (DST), demonstrated that adding a small amount of nanogold into a ferroelectric polymer significantly enhances pyroelectric performance.
• The research team led by Dipankar Mandal, along with Sudip Naskar and collaborators, engineered ultrathin films using polyvinylidene fluoride (PVDF), a widely used flexible ferroelectric polymer.
• The team developed a low-dose in-situ nanogold embedding strategy to study how nanoscale gold–polymer interactions, dipole orientation, and plasmonic excitations enhance pyroelectric performance in ultrathin films.
• By incorporating hexagonal nanogold particles into films thinner than 100 nanometres, researchers achieved a nearly pure polar phase of PVDF with highly ordered dipoles, essential for strong pyroelectric behaviour.
• The study published in Advanced Functional Materials (Adv. Funct. Mater.) shows that a polymer-supported metastable hexagonal close-packed gold nanoparticle phase combined with a highly ordered PVDF matrix forms a 2D hybrid thin film.
• In this system, plasmon–dipole–electron coupling works cooperatively to enhance pyroelectricity, dipole ordering, and broadband optical absorption.
• The film demonstrates efficient pyroelectric energy conversion within a temperature range of 294–301 K, enabling ambient-temperature thermal sensing and wearable energy harvesting applications.

CSIR-National Geophysical Research Institute Discovers Ancient Buried River Channel Beneath Prayagraj–Kanpur Stretch in Uttar Pradesh

• Scientists from the CSIR–National Geophysical Research Institute (NGRI), Hyderabad have identified an ancient underground river channel (palaeo-channel) beneath the Prayagraj–Kanpur stretch in Uttar Pradesh.
• A palaeo-channel is defined as an abandoned or buried river course that is preserved below the surface and filled with materials such as sand, silt, or groundwater.
• The identified buried river channel lies 10–15 metres below the ground surface and extends for approximately 200 kilometres from Prayagraj to Kanpur.
• The discovery was made using airborne geophysical surveys conducted via helicopters, followed by confirmatory drilling at multiple sites including Sarai Akil, Sirathu, Manjhanpur, Fatehpur, and Balwant Tola.
• The drilling operations revealed sandy deposits consistent with ancient riverbed sediments, confirming the presence of a palaeo-fluvial system.
• The buried river system is part of a groundwater aquifer system and continues to contain significant subsurface water reserves.
• The estimated water storage capacity of the system is about 3,500 to 4,000 million cubic metres, making it a major groundwater resource.
• The channel has an approximate width of 4 to 5 kilometres, indicating a large-scale ancient river system.
• More than 150 Managed Aquifer Recharge (MAR) sites have been identified to support groundwater recharge and river baseflow enhancement.
• Around 20 to 25 MAR sites are planned for initial development by CSIR-NGRI to improve regional water sustainability.
• The buried channel has been tentatively linked with traditional references to the Saraswati River near the Triveni Sangam, although scientific confirmation is not established.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS 

Liberty Mutual Insurance increases shareholding in Liberty General Insurance Limited to 74%

• Liberty Mutual Insurance increased its stake in Liberty General Insurance Limited (LGI) to 74% from 55.40%, strengthening its presence in India’s insurance market.
• The stake increase follows Liberty Mutual’s earlier rise in shareholding from 49% to 55.40% in September 2025, reflecting growing foreign investment in India’s insurance sector.
• Liberty General Insurance Limited was established in 2013 and provides retail, commercial, and industrial insurance products.
• The company offers a wide range of insurance solutions including health, motor, property, marine, engineering, and liability insurance.
• After the transaction, the shareholding structure of Liberty General Insurance consists of 74% held by Summit Asia Investments Holdings Pte. Ltd. (a group entity of Liberty Mutual Insurance) and 26% held by Enam Securities.
• Summit Asia Investments Holdings Pte. Ltd. functions as a group company of Liberty Mutual Insurance Group for its investment operations.

About Liberty Mutual Insurance :

• Liberty Mutual Insurance is a global property and casualty insurer, and the increased stake highlights its long-term commitment to the Indian insurance industry.
• Chief Executive Officer (CEO) and Whole-Time Director : Parag Ved

CURRENT AFFAIRS : APPS & PORTALS

Union Minister Prataprao Jadhav inaugurates Ayush Anudan Portal under the Ayush Grid digital initiative

• Prataprao Jadhav launched the Ayush Anudan Portal at Kartavya Bhawan to strengthen digital governance and transparency in the Ayush sector.
• The portal was developed by the Ministry of Ayush under the Ayush Grid initiative to streamline the submission, processing, approval and monitoring of funding proposals under various Central Sector Schemes.
• Ayush Grid is a flagship digital initiative of the Government of India aimed at creating an integrated, transparent and citizen-centric digital ecosystem for the Ayush sector using modern technology.
• The initiative is aligned with Prime Minister Narendra Modi’s vision of “Ease of Doing Business” and “Ease of Living”.
• The Ayush Anudan Portal has been designed as a comprehensive digital platform to ensure 100% transparency, efficiency, accountability and easy accessibility in grant management processes.
• The portal supports paperless governance by enabling organisations and institutions to submit grant proposals completely through an online system.
• Integration with the NGO Darpan Portal will help in faster, automated, credible and error-free verification and authentication of applicant organisations.
• Several digital platforms have already been developed under the ABDM-compliant Ayush Grid initiative in areas such as education, research, healthcare services, medicinal plant administration, drug regulation, capacity building and global outreach.
• The launch event was attended by Vaidya Rajesh Kotecha, Secretary of the Ministry of Ayush, along with Joint Secretaries Kavita Jain, Alarmelmangai D., and Monalisa Dash.
• The portal aims to promote transparent governance, operational efficiency, digital transformation and innovation-driven growth in the Ayush ecosystem under the vision of Digital India.
• The portal can be accessed through the Ministry of Ayush’s MAISP (My Ayush Integrated Services Portal), which acts as the Ministry’s single-window digital platform.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Google and Blackstone Launch $5 Billion Artificial Intelligence Cloud Venture

• Google and Blackstone have launched a new $5 billion Artificial Intelligence cloud infrastructure venture aimed at strengthening Artificial Intelligence computing capabilities and challenging the dominance of Nvidia in the global Artificial Intelligence chip market.
• The new venture will be built around Google’s custom-designed Tensor Processing Units (TPUs), which are specialised chips developed specifically for Artificial Intelligence and machine learning workloads.
• The project will provide Compute-as-a-Service, allowing businesses to rent powerful Artificial Intelligence computing infrastructure through cloud platforms instead of building expensive hardware systems themselves.
• Blackstone is investing around $5 billion into the venture, making it one of the largest recent investments in Artificial Intelligence infrastructure and cloud computing.
• The first phase of the project is expected to include nearly 500 megawatts of data centre capacity, reflecting the large-scale infrastructure requirements of Artificial Intelligence systems.
• The venture represents Google’s major strategic push to expand the adoption of its proprietary Tensor Processing Unit ecosystem in the rapidly growing Artificial Intelligence market.
• For several years, Nvidia has dominated the Artificial Intelligence chip industry through its Graphics Processing Units (GPUs), which power major Artificial Intelligence platforms and cloud services globally.
• Google’s Tensor Processing Units are custom-built processors specifically optimised for:
• Artificial Intelligence model training
• Machine learning inference
• Large Language Models
• High-speed parallel computing
• Compute-as-a-Service (CaaS) is a cloud-based model that enables businesses to access advanced computing resources on demand without purchasing costly infrastructure.
• The partnership highlights the intensifying global competition in Artificial Intelligence infrastructure, semiconductor technology, and cloud computing markets.

Bharat Forge to Set Up India’s First Private Marine Gas Turbine Facility in Andhra Pradesh

• Bharat Forge Limited has signed a Memorandum of Understanding with the Government of Andhra Pradesh to establish India’s first private-sector Marine Gas Turbine facility in Visakhapatnam.
• The project was announced during the Aerospace and Defence Manufacturing Conclave held in Puttaparthi, Andhra Pradesh.
• The Memorandum of Understanding was signed by Guru Biswal, Chief Executive Officer-Aerospace, Bharat Forge Limited, and defence scientist Dr G. Satheesh Reddy, former Chairman of the Defence Research and Development Organisation.
• The event was attended by Union Defence Minister Rajnath Singh, Andhra Pradesh Chief Minister N. Chandrababu Naidu, and senior government and defence officials.
• The upcoming facility will become the first private-sector unit in India with complete capabilities for Marine Gas Turbine repair, servicing, and overhaul.
• The facility will provide advanced services including blade restoration, rotor balancing, combustor liner repairs, component manufacturing, testing infrastructure, and round-the-clock operational support.
• The project is expected to significantly reduce India’s dependence on foreign countries for marine propulsion maintenance and servicing.
• Visakhapatnam was selected for the project because of its strategic importance in India’s naval ecosystem. The city houses the Eastern Naval Command and a major Naval Dockyard, making it an ideal location for naval support infrastructure.
• The facility is expected to improve the operational readiness of the Indian Navy by ensuring faster servicing and reduced downtime for naval propulsion systems.
• The project aligns with the Government of India’s Atmanirbhar Bharat initiative aimed at strengthening self-reliance in critical defence and strategic technologies.
• Bharat Forge will also establish a dedicated Research and Development and testing hub as part of the project to support future indigenous marine turbine development programmes.

CURRENT AFFAIRS: IMPORTANT DAYS

Anti-Terrorism Day 2026 Observed on 21 May

• Anti-Terrorism Day is observed every year on 21 May in India to spread awareness about the dangers of terrorism, violence, and extremism.
• The day is observed to promote peace, unity, harmony, and national integration among citizens.
• Anti-Terrorism Day is observed on the death anniversary of former Prime Minister Rajiv Gandhi, who was assassinated in 1991 during an election campaign.
• Rajiv Gandhi served as the 6th Prime Minister of India from 1984 to 1989.
• After the assassination of Rajiv Gandhi, the Government of India decided to observe 21 May as Anti-Terrorism Day to educate people about the harmful effects of terrorism on society.
• On this day, the Anti-Terrorism Pledge is administered in government offices, public sector institutions, schools, colleges, and other public organisations across the country.
• The observance aims to encourage people, especially youth, to reject violence and support the values of peace, humanity, and democracy.
• Anti-Terrorism Day also highlights the need for national unity and collective efforts to combat terrorism and extremist activities.

World Day for Cultural Diversity for Dialogue and Development Observed on 21 May

• World Day for Cultural Diversity for Dialogue and Development is observed every year on 21 May to raise awareness about the importance of cultural diversity, dialogue, inclusion, and sustainable development.
• The day was adopted by the United Nations Educational, Scientific and Cultural Organization (UNESCO) in 2001.
• In 2002, the United Nations General Assembly (UNGA) officially declared 21 May as the World Day for Cultural Diversity for Dialogue and Development.
• The observance aims to promote:
• Cultural diversity
• Intercultural dialogue
• Social harmony
• Mutual understanding among communities
• The day highlights the importance of culture in achieving:
• Peace
• Economic growth
• Social development
• Global cooperation
• In 2015, the Second Committee of the United Nations General Assembly adopted a resolution related to cultural diversity and sustainable development.
• The United Nations recognises that cultural diversity plays an important role in achieving the 17 Sustainable Development Goals (SDGs).

Daily CA One- Liner: May 21^st

• The Government of Uttarakhand has planned a ₹450 crore ropeway project connecting Rishikesh to the famous Neelkanth Mahadev Temple.
• India is witnessing rapid infrastructure expansion through major Central Government projects across sectors such as highways, railways, airports, industrial corridors, ports, energy, and urban development
• Indira Gandhi International Airport (IGI Airport), New Delhi is set to launch its first automated air train system by 2029 to improve passenger movement across the airport
• The Government of West Bengal has approved the implementation of the 7th Pay Commission for state government employees and pensioners. The decision was taken during a Cabinet meeting chaired by Chief Minister Suvendu Adhikari.
• India has officially notified new fuel standards for higher ethanol-blended petrol, including E22, E25, E27, and E30, marking a major step in the country’s clean energy and biofuel transition
• Indian Railways has approved a ₹238 crore infrastructure and safety upgrade project for the Jammu–Shri Mata Vaishno Devi Katra rail section under the Northern Railway Zone
• Google and Blackstone have launched a new $5 billion Artificial Intelligence cloud infrastructure venture aimed at strengthening Artificial Intelligence computing capabilities and challenging the dominance of Nvidia in the global Artificial Intelligence chip market
• Bharat Forge Limited has signed a Memorandum of Understanding with the Government of Andhra Pradesh to establish India’s first private-sector Marine Gas Turbine facility in
• The Reserve Bank of India (RBI) has decided not to activate the Countercyclical Capital Buffer (CCyB) at present, stating that current economic and banking conditions do not require its implementation.
• The Department of Financial Services (DFS), Ministry of Finance organised a half-day workshop on the Insolvency and Bankruptcy (Amendment) Act, 2026 in New Delhi.
• The Government of India selected SBI Ventures as the fund manager for the ₹20,000-crore Maritime Investment Fund (MIF) to promote investment in India’s maritime sector.
• Mahindra & Mahindra and DBS Bank India signed an Memorandum of Understanding (MoU) to launch India’s first sustainability-linked dealer financing programme in the automotive sector on 19 May 2026.
• The Reserve Bank of India (RBI) appointed Shri Gunveer Singh as Executive Director (ED) with effect from 18 May 2026, marking a key leadership change in the central bank.
• Ali Falih Kadhim al-Zaidi was sworn in as the new Prime Minister (PM) of Iraq and Commander-in-Chief of Iraq’s Armed Forces.
• Tonbo Imaging, a Bengaluru-based defence technology company, has secured a contract from the Indian Navy under the ADITI 3.0 innovation framework on 19 May 2026.
• India is set to receive the fourth squadron of the Russian-origin S-400 Triumf, strengthening its air defence capabilities.
• Larsen & Toubro Limited (L&T) has entered into a strategic partnership with France-based Exail Technologies to deliver advanced Unmanned Mine Countermeasure (MCM) systems for the Indian Navy (IN).
• Researchers have developed a new ultrathin flexible film capable of efficiently converting tiny temperature fluctuations into electrical signals, enabling applications in smart photodetectors, low-grade heat harvesters, and flexible electronic systems.
• Scientists from the CSIR–National Geophysical Research Institute (NGRI), Hyderabad have identified an ancient underground river channel (palaeo-channel) beneath the Prayagraj–Kanpur stretch in Uttar Pradesh.
• Liberty Mutual Insurance increased its stake in Liberty General Insurance Limited (LGI) to 74% from 55.40%, strengthening its presence in India’s insurance market.
• Prataprao Jadhav launched the Ayush Anudan Portal at Kartavya Bhawan to strengthen digital governance and transparency in the Ayush sector.
• Anti-Terrorism Day is observed every year on 21 May in India to spread awareness about the dangers of terrorism, violence, and extremism
• World Day for Cultural Diversity for Dialogue and Development is observed every year on 21 May to raise awareness about the importance of cultural diversity, dialogue, inclusion, and sustainable development