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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Forms 8-Member Expert Panel Under Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) Initiative

• The Reserve Bank of India (RBI) constituted an Expert Committee on “Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE)”.
• The committee has been formed to study the opportunities, risks, and implications of quantum technology in India’s financial sector.
• The committee is chaired by Dr. Anil Prabhakar, Professor in the Department of Electrical Engineering at Indian Institute of Technology Madras (IIT Madras).

Key Highlights :

• Quantum technology uses principles such as superposition and entanglement for advanced computational capabilities.
• Quantum technology can support applications like portfolio optimisation, risk assessment, macroeconomic modelling, and financial analysis.
• At the same time, quantum computing poses threats to existing cryptographic and encryption systems used in the financial ecosystem.
• The committee will evaluate risks posed by quantum computing through a Cryptography Bill of Materials (CBOM).
• The CBOM will help identify critical financial systems and processes vulnerable to quantum threats.
• The panel will assess the financial sector’s crypto agility and preparedness for adopting quantum-safe cryptography.
• The committee will conduct a cross-country analysis to study global regulatory practices and frameworks related to safe deployment of quantum technologies.
• It will also examine the availability, scalability, and maturity of vendor tools and security solutions for the financial sector.
• One of the major objectives is to recommend a roadmap and framework for making India’s financial system quantum secure.
• The committee includes representatives from the Department of Science and Technology (DST), State Bank of India (SBI), National Payments Corporation of India (NPCI), Ministry of Electronics and Information Technology (MeitY), and Data Security Council of India (DSCI).
• Other key members include Dilip Asbe (CEO of NPCI), Vinayak Godse (CEO of DSCI), and Suvendu Pati, Chief General Manager, Fintech Department, RBI, who will serve as Member-Secretary.
• The committee is required to submit its report within six months from the date of its first meeting.

Securities and Exchange Board of India Revises Household Savings Calculation Method, Raising India’s FY25 Gross Savings-to-Gross Domestic Product Ratio to 34.94%

• The Securities and Exchange Board of India (SEBI) revised the methodology for calculating household savings through securities markets.
• Due to the revised methodology, India’s FY25 gross savings-to-Gross Domestic Product (GDP) ratio increased from 34.47% to 34.94%.
• The revised estimates were released through a SEBI research paper prepared in consultation with the Reserve Bank of India (RBI) and the Ministry of Statistics and Programme Implementation (MoSPI).

Key Highlights :

• Under the updated framework, household savings through securities markets in FY25 were estimated at ₹6.91 lakh crore, compared to ₹5.43 lakh crore under the earlier methodology.
• The revised methodology uses transaction-level granular data from stock exchanges, depositories, and the Association of Mutual Funds in India (AMFI).
• The updated framework provides a more comprehensive, realistic, and accurate estimation of household savings.
• As per revised estimates, the household savings-to-GDP ratio improved to 21.7% in FY25 from the earlier estimate of 21.23%.
• The net household financial savings also increased to 7.10% of GDP from the previous estimate of 6.63%.
• The research paper was authored by officials of SEBI’s Department of Economic and Policy Analysis (DEPA).
• Earlier estimates by the RBI and MoSPI relied mainly on broad estimations for securities market savings.
• The previous methodology mainly covered mutual fund assets under management (AUM) belonging to individual investors.
• The revised framework now includes investments in equities, debt instruments, Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and Alternative Investment Funds (AIFs).
• The methodology also incorporates secondary market transactions and investments by non-profit institutions serving households.

Recent News :

• In May 2026,The Securities and Exchange Board of India (SEBI) discontinued the Investor Risk Reduction Access (IRRA) platform for stock brokers with immediate effect.

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.

Union Finance & Corporate Affairs Minister Nirmala Sitharaman Chairs Small Industries Development Bank of India’s 37th Foundation Day Celebrations

• Finance Minister Nirmala Sitharaman launched a set of Small Industries Development Bank of India (SIDBI)-backed strategic web portals and initiatives during the 37th Foundation Day celebrations held in Mumbai.
• The initiatives were launched to strengthen the Micro, Small and Medium Enterprises (MSME) ecosystem through innovation, inclusive financing, technology adoption, and collaborative partnerships.
• The SIDBI-RRB Co-Lending Platform was launched to operationalise collaboration between SIDBI and Regional Rural Banks (RRBs) for improving MSME credit flow in semi-urban and rural areas across India.
• The Modernization of Rural Enterprises (MoRE) Programme aims to support 10,000 rural micro and artisan units through cluster-based interventions over the next 3 years.
• The Micro Credit Card Scheme for MSMEs enables Udyam-registered micro enterprises to avail credit up to Rs 5 lakh with 75% guarantee coverage and without mandatory primary security.
• The SIDBI MachFin Mart is a technology-driven digital platform that helps MSMEs access machinery delivery through a structured marketplace supporting standardisation, technology adoption, and loan sanction.
• During the programme, Nirmala Sitharaman reviewed SIDBI’s transformation initiatives, interacted with MSME stakeholders, and appreciated SIDBI’s role in strengthening the MSME sector through innovation and partnerships.
• Credit cards under the Micro Credit Card Scheme were distributed to beneficiary micro enterprises during the event.
• The event concluded with a renewed commitment towards strengthening India’s MSME ecosystem through inclusive financing, innovation, technology adoption, and collaborative partnerships.

About Small Industries Development Bank of India (SIDBI):

• It is an All India Development Financial Institution (DFI) focused on financing and developing Micro, Small, and Medium Enterprises (MSMEs) in India.
• Headquarters: Lucknow, Uttar Pradesh
• Founded: April 2, 1990, by the Government of India
• Chairman & Managing Director: Shri Manoj Mittal

About Ministry of Finance:

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

Department of Financial Services Conducts Credit Outreach Programme in Udaipur, Tripura

• A Credit Outreach Programme was organised at Udaipur, Gomati District, Tripura on 26 May 2026.
• The programme was chaired by Nagaraju, Secretary of the Department of Financial Services (DFS), under the Ministry of Finance.
• Various banks sanctioned loans worth ₹105.40 crore to 4,577 beneficiaries during the programme.
• National Bank for Agriculture and Rural Development (NABARD) and Small Industries Development Bank of India (SIDBI) announced sanctions exceeding ₹2 crore for different development projects.
• Banks also extended support under Corporate Social Responsibility (CSR) initiatives for improving infrastructure in schools and anganwadis.
• A Cluster Development Branch of Small Industries Development Bank of India (SIDBI) was inaugurated at Udaipur to strengthen the Micro, Small and Medium Enterprises (MSME)
• The new SIDBI branch aims to support borrowers, promote MSME growth, and enhance regional economic development.
• The Department of Financial Services launched the Financial Inclusion 2.0 Vision Document during the event.

Recent News :

• In May 2026, The Department of Financial Services (DFS) under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a size of USD 1.5 billion and a sovereign guarantee of USD 1.4 billion (₹12,980 crore) to ensure uninterrupted maritime insurance coverage amid global geopolitical tensions.

India Records Historic Gross Foreign Direct Investment Inflows of $94.5 Billion in FY26 While Net FDI Stands at $7.6 Billion

• The Reserve Bank of India (RBI) reported that India’s gross Foreign Direct Investment (FDI) inflows reached a record high of USD 94.53 billion in FY 2025-26, registering a 17% increase over the previous year.
• Despite record gross inflows, India’s net FDI inflows stood at only USD 7.65 billion, indicating a sharp gap between total inflows and actual retained investment.

Key Highlights :

• Gross FDI refers to the total foreign investment entering India before any deductions.
• Net FDI is calculated by subtracting repatriated funds and overseas investments made by Indian companies from gross FDI, representing the actual net addition to India’s investment stock.
• Repatriation means foreign companies taking back previously invested funds from India in the form of profits, dividends, or sale of assets.
• The low net FDI was mainly due to two trends: increasing capital repatriation by foreign investors and rising overseas investments by Indian companies.
• Foreign investors repatriated nearly USD 53.58 billion, the highest level recorded in at least the last three years.
• Major reasons for high repatriation included global risk-off sentiment, the West Asia war, supply chain disruptions, rupee depreciation, and profit-booking after strong Indian market performance.
• Weak net FDI inflows exerted pressure on the Indian rupee, which nearly touched ₹97 per US dollar before RBI intervention stabilised it at around ₹95.69 per dollar.
• The rupee depreciated nearly 5% since the beginning of the West Asia conflict on 28 February 2026.
• The RBI intervened aggressively in the foreign exchange (forex) market to defend the rupee.
• In March 2026, RBI sold USD 29.6 billion worth of foreign currency on a gross basis, marking the highest monthly forex sale in 13 months.
• The largest recent forex intervention by RBI was in February 2025, when it sold USD 46.65 billion.
• RBI’s lower forex purchases in the forward market reflected a more defensive intervention strategy during FY26.
• Foreign Portfolio Investment (FPI) refers to foreign investment in financial assets such as stocks and bonds, unlike FDI which involves ownership and control of businesses.
• Since the start of the West Asia war, India witnessed heavy FPI outflows:
• March 2026: USD 13.6 billion outflow
• April 2026: USD 7.56 billion outflow
• May 2026 (till date): USD 2.62 billion outflow

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Department of Consumer Affairs Expands Role of Government Approved Test Centres

• The Department of Consumer Affairs has expanded the role of Government Approved Test Centres (GATCs) through amendments to the Legal Metrology (Government Approved Test Centre) Rules, 2013.
• Under the amended rules, GATCs will now be authorised to verify dispensing systems for:
  • Petrol
  • Diesel
  • Compressed Natural Gas (CNG)
  • Liquefied Petroleum Gas (LPG)
  • Liquefied Natural Gas (LNG)
  • Hydrogen
• The initiative aims to improve the availability and efficiency of verification services and support the increasing adoption of cleaner fuel technologies in India.
• Earlier, GATCs were responsible for verification of 18 categories of weights and measures. With the inclusion of five additional fuel dispensing systems, the total number has increased to 23 categories.
• As per the revised rules:
  • Verification fee for petrol and diesel dispensers has been fixed at ₹5,000 per nozzle
  • Verification fee for CNG, LPG, LNG and hydrogen dispensers has been fixed at ₹10,000 per nozzle
• The amendments also empower state governments to notify additional categories of weights and measures for verification through GATCs under their respective legal metrology rules.
• To ensure faster processing and reduced delays, officers of the rank of Joint Secretary and above have been authorised to exercise powers related to approvals and other matters under the rules.

CURRENT AFFAIRS : INTERNATIONAL NEWS

World Health Organization Holds 79th World Health Assembly 2026 in Geneva, Switzerland

• The World Health Organization (WHO) organised the 79th World Health Assembly (WHA79) in Geneva, Switzerland from 18–23 May 2026.
• The theme of WHA79 was “Reshaping Global Health: A Shared Responsibility”.
• During the six-day session, member countries adopted more than 20 decisions and 13 resolutions on major global health challenges.
• The adopted resolutions covered issues such as stroke, tuberculosis (TB), antimicrobial resistance (AMR), emergency care, haemophilia, precision medicine, radiation, pharmacovigilance, diagnostic imaging, transplantation, liver disease, and neglected tropical diseases (NTDs).
• Victor Atallah Lajam, Minister of Health of the Dominican Republic, served as the President and Chairperson of WHA79.
• Jagat Prakash Nadda, Union Minister of the Ministry of Health and Family Welfare (MoHFW), addressed the plenary session of WHA79.
• India reaffirmed its commitment to equitable, accessible, and people-centric healthcare under the vision of “Health for All”.
• A major highlight of the assembly was the adoption of the first-ever WHO resolution on stroke, officially recognising stroke as a global public health priority.
• The landmark stroke resolution was led by Egypt and co-sponsored by Chile, Georgia, Palestine, Paraguay, and Tunisia.

About WHO :

• Formation : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director General : Tedros Adhanom Ghebreyesus
• The World Health Organization (WHO) is a specialized agency of the United Nations (UN) which coordinates responses to international public health issues and emergencies.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Jawahar Takes Charge as Chairman of Marine Products Export Development Authority

• Jawahar officially assumed charge as the Chairman of the Marine Products Export Development Authority (MPEDA).
• Marine Products Export Development Authority functions under the Ministry of Commerce and Industry (MoC&I).
• Jawahar succeeded D.V. Swamy as the Chairman of MPEDA.
• He will serve as Chairman for a period of five years or until further orders, whichever is earlier.
• Jawahar is a 2007-batch Indian Administrative Service (IAS) officer of the AGMUT cadre (Arunachal Pradesh, Goa, Mizoram and Union Territories).
• He possesses extensive administrative experience in sectors such as industries, commerce, education, sustainable development, elections administration, and public governance.
• Before joining MPEDA, he served as the Chief Electoral Officer and Commissioner-cum-Secretary to the Government of Puducherry.
• In the Puducherry government, he handled important portfolios including Industries & Commerce, Education, and Elections.
• Jawahar also has a multidisciplinary academic background in agriculture, environmental science, and urban development.
• His expertise is expected to strengthen initiatives related to sustainable fisheries, aquaculture, infrastructure development, value addition, export competitiveness, and global market expansion for Indian seafood products.
• Under his leadership, MPEDA aims to improve sustainability, quality assurance, traceability, and livelihood support across the fisheries and aquaculture value chain.

About MPEDA :

• Marine Products Export Development Authority (MPEDA) was established in 1972 as the statutory body for promoting India’s marine product exports.
• MPEDA is headquartered in Kochi.
• India’s seafood exports reached an all-time high of ₹72,325.82 crore (around USD 8.28 billion) during FY26.
• India’s seafood export volume also reached a record 32 lakh Metric Tonnes (MT) in FY26.

Securities and Exchange Board of India Clears Appointment of Amit Mahajan and Nayana Ovalekar as Executive Directors of Central Depository Services Limited

• The Securities and Exchange Board of India (SEBI) approved the appointment of Amit Mahajan and Nayana Ovalekar as Executive Directors (EDs) on the board of Central Depository Services Limited (CDSL).
• The appointments will become effective from their respective dates of joining, subject to ratification by CDSL shareholders.
• The disclosure regarding the appointments was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements – LODR) Regulations, 2015.
• Amit Mahajan will head Vertical 1 at CDSL, which is responsible for Critical Operations.
• Nayana Ovalekar will lead Vertical 2, overseeing Regulatory Affairs, Compliance, Risk Management, and Investor Grievances.
• BSE Limited also appointed Saurabh Shukla as Executive Director for Vertical 1 and Gopalan S. Raghavan as Executive Director for Vertical 2.
• National Securities Depository Limited (NSDL) appointed Subhash Kelkar and Ankit Sharma as Executive Directors (EDs) for its two major operational verticals.

CURRENT AFFAIRS: AWARDS AND HONOURS

Bangalore Water Supply and Sewerage Board Ranked Among Top 5 Global Utilities at Global Water Summit 2026

• The Bangalore Water Supply and Sewerage Board emerged as one of the top five global utilities at the Global Water Summit 2026 held in Madrid.
• The Bangalore Water Supply and Sewerage Board became the only Indian water utility to secure a position among the global top five in three major award categories at the summit.
• The board received international recognition for its integrated approach towards water conservation, wastewater recycling, water reuse, and sustainable urban water governance through its “5 pillars” strategy.
• The recognition was linked to the board’s contribution towards achieving United Nations Sustainable Development Goal 6, which focuses on ensuring clean water and sanitation for all.
• In this category, the Bangalore Water Supply and Sewerage Board featured alongside globally recognised utilities including:
  • Aguas Nuevas
  • Indah Water Konsortium
  • SANASA
  • Sanepar
• The Bangalore Water Supply and Sewerage Board was also listed among the top five globally in the prestigious “Utility of the Year” category, one of the highest recognitions in the international water sector.
• The selection was based on its performance in urban water supply, sanitation management, technology adoption, infrastructure expansion, and sustainable utility governance over the last three years.
• The board’s flagship Cauvery Stage V Drinking Water Project, developed to address the increasing water demand in Bengaluru, was also ranked among the top five global projects in the “Water Project of the Year”
• Chairman Ram Prasath Manohar represented the utility at the summit.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Steel Authority of India Limited Signs Memorandum of Understanding with Management Development Institute Gurgaon

• The Management Training Institute of Steel Authority of India Limited signed a Memorandum of Understanding with Management Development Institute Gurgaon to collaborate on executive education programmes aimed at developing future-ready leaders within the company.
• The partnership combines academic expertise with practical industry application to strengthen organisational capability and leadership development in Steel Authority of India Limited.
• Under the collaboration, both institutions will work on:
  • Customised leadership development programmes
  • Strategy and innovation-driven learning interventions
  • Action learning projects with measurable business impact
  • Overseas learning programmes
  • Joint research and consulting initiatives
  • Development of case studies tailored to the operational ecosystem of Steel Authority of India Limited
• The initiative is expected to enhance managerial skills, strategic thinking, and leadership capabilities among executives of the company.

About SAIL

• Steel Authority of India Limited is headquartered in New Delhi.
• Ashok Kumar Panda is the Chairman and Managing Director of the company.
• Steel Authority of India Limited was founded on 24 January 1973.

Tata Power Partners with Druk Green Power Corporation for Clean Energy Skill Development in Bhutan

• Tata Power signed a Memorandum of Understanding with Druk Green Power Corporation to create a training framework supporting the development of 5,000 Megawatt clean energy capacity in Bhutan.
• The training programmes under the partnership will be delivered through the Tata Power Skill Development Institute, which focuses on bridging skill gaps in the power sector through industry-oriented training and certification programmes.
• The initiative is aimed at strengthening local workforce capabilities required for Bhutan’s expanding clean energy sector and supports the broader India–Bhutan partnership in renewable energy development.
• The Tata Power Skill Development Institute operates a wide training network across India and provides practical training across the power value chain, including:
  • Thermal power
  • Hydel power
  • Solar energy
  • Wind energy
  • Green hydrogen technologies
• The partnership is expected to contribute to clean energy capacity building, workforce development, and sustainable energy cooperation between India and Bhutan.

About Tata Power

• Tata Power is headquartered in Mumbai.
• Natarajan Chandrasekaran is the Chairman
• Praveer Sinha is the Managing Director and Chief Executive Officer of the company.

Ayush Export Promotion Council and Spices Board of India Sign Memorandum of Understanding to Promote Ayush and Medicinal Spice Exports

• Ayush Export Promotion Council (AYUSHEXCIL) and Spices Board of India signed a Memorandum of Understanding (MoU) to strengthen India’s global position in traditional wellness and natural products.
• The agreement focuses on the integrated promotion of Ayush products and medicinal spices in international markets.
• The MoU was signed by Anurag Sharma, Chairman of AYUSHEXCIL, and M. S. Manivannan, Secretary of the Spices Board of India.
• The partnership aims to enhance global cooperation in the areas of:
  • Export promotion
  • Quality assurance and standardisation
  • Research and innovation
  • International market development
• The collaboration will support the promotion of products such as:
  • Functional foods
  • Nutraceuticals
  • Herbal extracts
  • Ayurvedic and spice-based value-added products

About Spices Board of India

• Headquarters: Kochi, Kerala
• Chairperson: Sangeetha Viswanathan
• Founded: 1987

About Ayush Export Promotion Council (AYUSHEXCIL)

• Headquarters: New Delhi
• Chairman: Anurag Sharma
• Established: 2022

CURRENT AFFAIRS : DEFENCE NEWS

Defence Minister Rajnath Singh Launches NIBE Limited Defence Manufacturing Facility at Shirdi in Maharashtra

• Rajnath Singh, Union Minister of the Ministry of Defence (MoD), inaugurated the NIBE Group’s private defence manufacturing complex in Shirdi, Maharashtra.
• He also flagged off India’s first 300-kilometre (km) Universal Rocket Launching System ‘Suryastra’ to strengthen indigenous defence manufacturing and future warfare capabilities.
• The NIBE Defence Manufacturing Complex was developed by the NIBE Limited (NIBE Group) with an investment of over 5,000 crore.
• The project is expected to generate nearly 4,000 employment opportunities in the defence manufacturing sector.
• Suryastra is an indigenous guided rocket launcher system developed under the emergency procurement framework.
• The Suryastra system was successfully tested at the Integrated Test Range (ITR) in Chandipur, Odisha.
• The Government approved four defence corridors in Maharashtra to strengthen India’s defence manufacturing ecosystem.
• The approved defence corridor cities are Pune, Nashik, Ahmednagar (Ahilyanagar), and Nagpur in Maharashtra.
• These defence corridors aim to boost indigenous weapons production, defence exports, and support Micro, Small and Medium Enterprises (MSMEs) along with ancillary industries.

Recent News :

• In May 2026, NIBE Limited, a defence manufacturing company, successfully conducted trials of its Vayu Astra-1 Loitering Munition (LM).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

National Aeronautics and Space Administration Announces USD 20 Billion Three-Stage Programme to Establish Permanent Lunar Base

• The National Aeronautics and Space Administration (NASA) unveiled a USD 20 billion three-phased plan to establish a permanent base on the Moon.
• The plan was announced by NASA Administrator Jared Isaacman.
• The lunar base programme will involve robotic landers, lunar rovers, and drones to support long-term human presence on the Moon.
• NASA aims to establish the first lunar base by March 2027 and plans to land astronauts on the Moon again in 2028 under the Artemis programme.
• The mission aims to help the United States develop the capability to live and operate in the Moon’s harsh environment.

Key Highlights :

• Moon Base-I (2026–2028) will focus on testing technologies and preparing for future surface operations on the Moon.
• For Moon Base-I, NASA selected Blue Origin’s Blue Moon Mark-1 Endurance lander, scheduled no earlier than September 2026.
• The Moon Base-I mission is planned to land at the Shackleton Connecting Ridge near the Moon’s south pole.
• Moon Base-II (2029–2032) will focus on constructing permanent lunar infrastructure including habitats, power systems, and facilities for long-duration human missions.
• Moon Base-III (2032 onwards) aims to support routine crew rotations and continuous human activity on the lunar surface.
• The Moon Base-III mission will carry NASA’s Lunar Vertex science mission to study mysterious lunar swirls and bright formations linked to magnetic fields beneath the Moon’s surface.
• The mission will also carry payloads from the European Space Agency (ESA) and the Korea AeroSpace Administration (KSA).
• NASA awarded contracts worth about USD 219 million to Lunar Outpost and USD 220 million to Venturi Astrolab to develop Lunar Terrain Vehicles (LTVs).
• The new lunar rovers are modern versions of the Apollo-era moon buggies and are expected to weigh about one metric ton.
• The rovers will be capable of carrying two astronauts, travelling on slopes up to 20 degrees, and operating through autonomous driving or remote control from Earth.
• NASA plans to place at least one rover on the Moon before astronauts return during Artemis IV, potentially in 2028.
• NASA also awarded a USD 75 million contract to Firefly Aerospace to transport four robotic drones to the Moon’s south pole region.
• The robotic drones, developed at NASA’s Jet Propulsion Laboratory (JPL), are designed to hop between locations and map potential landing sites and moon base locations.
• National Aeronautics and Space Administration’s Artemis II mission launched in April 2026 and became the first crewed mission beyond low Earth orbit since Apollo 17 in 1972.

Technology Development Board-Department of Science and Technology Backs IDT Innovation Technologies Private. Limited. for Commercialisation of Indigenous Industrial AIoT Technologies

• The Technology Development Board (TDB) under the Department of Science and Technology (DST), Government of India, signed an agreement with IDT Innovation Technologies Private. Limited., Nagpur.
• The agreement is for the project titled “Industry 4.0: Development and Commercialization of Industrial AIoT Devices.”
• The initiative aims to strengthen India’s Industry 4.0 ecosystem and accelerate indigenous industrial digital transformation.

Key Highlights :

• The project focuses on commercializing Artificial Intelligence and Internet of Things (AIoT)-based industrial solutions.
• The AIoT solutions are designed to improve resource efficiency, energy optimization, predictive maintenance, and operational productivity in manufacturing and industrial sectors.
• The initiative aligns with the Government of India’s vision of intelligent manufacturing, digital industrial infrastructure, and Aatmanirbhar Bharat.
• The company developed an integrated industrial AIoT ecosystem consisting of proprietary hardware devices and a secure analytics software platform.
• The hardware suite includes actuator monitors, energy meters, machine condition sensors, temperature monitoring systems, electrical health monitoring systems, and edge-based data acquisition units.
• The centralized software platform enables secure data aggregation, real-time industrial monitoring, data visualization, analytics, and predictive performance monitoring.
• The indigenous solution is designed for seamless retrofitting with existing industrial machines and electrical infrastructure.
• The technology enables easy adoption by Micro, Small and Medium Enterprises (MSMEs) as well as large manufacturing units without major operational disruptions.
• The project features a modular and scalable architecture, allowing phased deployment and future expansion based on operational requirements.
• The initiative is expected to support import substitution in industrial monitoring and analytics technologies, which are currently dominated by imported systems from international Original Equipment Manufacturers (OEMs).
• The project aims to provide cost-effective, customizable, and locally developed alternatives for industrial productivity and resource optimization.

Department of Space Clears Two New Space Technology Facilities in Tamil Nadu and Gujarat

• The Department of Space approved the establishment of Common Technical Facilities (CTFs) in Gujarat and Tamil Nadu (TN) to strengthen India’s space ecosystem.
• The new CTFs aim to promote domestic manufacturing capabilities and support the growth of India’s space sector industry base.
• These facilities will include advanced testing, validation, and integration infrastructure for high-precision assessment of space systems and components.
• One CTF, named Space Manufacturing Park, will be established at Khoraj near Ahmedabad, Gujarat.
• The Gujarat facility will primarily focus on spacecraft manufacturing and development of complex payload systems.
• Another CTF, called the Space Vehicles Cluster, will be set up at Thoothukudi, Tamil Nadu.
• The TN facility is strategically located near the upcoming Small Launch Vehicle (SLV) complex at Kulasekharapatnam.
• The Space Vehicles Cluster will mainly focus on manufacturing, testing, and integration of launch vehicle systems.
• The Indian National Space Promotion and Authorisation Centre (IN-SPACe) will oversee the procurement, installation, and commissioning of technical infrastructure.

Ministry of Agriculture and Farmers Welfare Says ‘Khet Bachao Abhiyan’ Reaches 2.71 Crore Citizens Across India

• The Indian Council of Agricultural Research (ICAR) under the Department of Agricultural Research and Education (DARE) implemented the nationwide “Khet Bachao Abhiyan” focusing on soil health, balanced fertiliser use, and sustainable agriculture practices.
• The campaign has achieved widespread outreach, reaching around 71 crore citizens across the country.
• Under the initiative, a total of 12,979 awareness camps and seminars were organised nationwide.
• The campaign directly engaged approximately 17 lakh farmers, promoting scientific awareness in agriculture.
• The programme also strengthened farmer outreach by connecting 8,383 farmer-members through Farmer Producer Organisations (FPOs), Self Help Groups (SHGs), and Farmer Interest Groups (FIGs).
• Large-scale awareness was created through 53,616 publicity locations, including banners, posters, and hoardings across India.
• The main objective of “Khet Bachao Abhiyan” is to promote soil test-based nutrient management.
• The campaign aims to reduce excessive dependence on chemical fertilisers and protect soil fertility.
• It also focuses on ensuring long-term agricultural sustainability in India through scientific farming practices.
• The initiative supports balanced fertiliser use and encourages data-driven soil health management for improved agricultural productivity.

About Ministry of Agriculture and Farmers Welfare :

• Cabinet Minister : Shivraj Singh Chouhan
• Minister of State : Bhagirath Choudhary, Ram Nath Thakur

CURRENT AFFAIRS: SPORTS NEWS

Swara Lakshmi Nair Becomes Karnataka’s Second Women’s International Master

• Karnataka-based chess player Swara Lakshmi Nair has earned the prestigious Women’s International Master (WIM) title, becoming the second player from Karnataka to do so.
• Isha Sharma was the first woman from the state to achieve the WIM
• The 19-year-old Swara Lakshmi has also become the first Women’s International Master from Bengaluru.
• She is a multiple-time Karnataka State champion and has previously won a bronze medal at the Commonwealth Under-20 Championship.
• Swara achieved her first WIM norm at the Sardinia World Chess Festival 2025 held in Italy.
• Her second norm was secured at the Grand Hotel Kielce Open 2025 in Poland.
• The third and final norm required for the title was achieved at the Ptuj IM Tournament in Slovenia.
• She also secured an additional norm at the Sardinia Festival 2026, and her live FIDE rating currently stands at 2219.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of United Nations Peacekeepers Observed on May 29

• The International Day of United Nations Peacekeepers is observed every year on May 29 to honour the dedication and sacrifice of UN peacekeepers across the world.
• The first United Nations Peacekeeping Mission was established in May 1948. The mission, named United Nations Truce Supervision Organization (UNTSO), was deployed in Palestine.
• The United Nations General Assembly designated May 29 as the International Day of United Nations Peacekeepers.
• The day is observed to pay tribute to the courage and commitment of men and women serving in peacekeeping operations and those who sacrificed their lives for global peace.
• Since the launch of the first UN peacekeeping mission in 1948, around 3,800 military personnel, police officers, and civilian staff have lost their lives while serving in peacekeeping missions.
• On May 29, UN offices, member states, and non-governmental organizations conduct various events and programmes to honour peacekeepers worldwide.
• At the United Nations Headquarters in New York, the UN Secretary-General conducted a ceremony to honour all peacekeepers who lost their lives in the service of peace.

International Everest Day 2025 Observed on May 29

• International Everest Day 2025 is observed on May 29 to commemorate the historic first successful ascent of Mount Everest in 1953.
• The day honours Tenzing Norgay of Nepal and Edmund Hillary of New Zealand, who became the first climbers to reach the summit of Mount Everest.
• Mount Everest is located on the border between Nepal and China and is the highest mountain in the world above sea level.
• The first major attempts to climb Mount Everest were made by British expeditions during the 1920s.
• Since the historic 1953 ascent, thousands of climbers from across the world have successfully scaled Mount Everest, and tourism related to mountaineering has grown significantly over the years.
• Several international climbers, mountaineers, and families participated in programmes and celebrations organised on the occasion of International Everest Day.
• International Everest Day was officially declared by Nepal in 2008, the same year Edmund Hillary passed away. Nepal chose May 29 to honour the historic Everest expedition.

Daily CA One- Liner: May 29

• The Department of Consumer Affairs has expanded the role of Government Approved Test Centres (GATCs) through amendments to the Legal Metrology (Government Approved Test Centre) Rules, 2013
• The Bangalore Water Supply and Sewerage Board emerged as one of the top five global utilities at the Global Water Summit 2026 held in Madrid
• The Management Training Institute of Steel Authority of India Limited signed a Memorandum of Understanding with Management Development Institute Gurgaon to collaborate on executive education programmes aimed at developing future-ready leaders within the company
• Tata Power signed a Memorandum of Understanding with Druk Green Power Corporation to create a training framework supporting the development of 5,000 Megawatt clean energy capacity in Bhutan
• Ayush Export Promotion Council (AYUSHEXCIL) and Spices Board of India signed a Memorandum of Understanding (MoU) to strengthen India’s global position in traditional wellness and natural products
• Karnataka-based chess player Swara Lakshmi Nair has earned the prestigious Women’s International Master (WIM) title, becoming the second player from Karnataka to do so
• The International Day of United Nations Peacekeepers is observed every year on May 29 to honour the dedication and sacrifice of UN peacekeepers across the world
• International Everest Day 2025 is observed on May 29 to commemorate the historic first successful ascent of Mount Everest in
• The Reserve Bank of India (RBI) constituted an Expert Committee on “Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE)”.
• The Securities and Exchange Board of India (SEBI) revised the methodology for calculating household savings through securities markets.
• Finance Minister Nirmala Sitharaman launched a set of Small Industries Development Bank of India (SIDBI)-backed strategic web portals and initiatives during the 37th Foundation Day celebrations held in Mumbai.
• A Credit Outreach Programme was organised at Udaipur, Gomati District, Tripura on 26 May 2026.
• The Reserve Bank of India (RBI) reported that India’s gross Foreign Direct Investment (FDI) inflows reached a record high of USD 94.53 billion in FY 2025-26, registering a 17% increase over the previous year.
• The World Health Organization (WHO) organised the 79th World Health Assembly (WHA79) in Geneva, Switzerland from 18–23 May 2026.
• Jawahar officially assumed charge as the Chairman of the Marine Products Export Development Authority (MPEDA).
• The Securities and Exchange Board of India (SEBI) approved the appointment of Amit Mahajan and Nayana Ovalekar as Executive Directors (EDs) on the board of Central Depository Services Limited (CDSL).
• Rajnath Singh, Union Minister of the Ministry of Defence (MoD), inaugurated the NIBE Group’s private defence manufacturing complex in Shirdi, Maharashtra.
• The National Aeronautics and Space Administration (NASA) unveiled a USD 20 billion three-phased plan to establish a permanent base on the Moon.
• The Technology Development Board (TDB) under the Department of Science and Technology (DST), Government of India, signed an agreement with IDT Innovation Technologies Private. Limited., Nagpur.
• The Department of Space approved the establishment of Common Technical Facilities (CTFs) in Gujarat and Tamil Nadu (TN) to strengthen India’s space ecosystem.
• The Indian Council of Agricultural Research (ICAR) under the Department of Agricultural Research and Education (DARE) implemented the nationwide “Khet Bachao Abhiyan” focusing on soil health, balanced fertiliser use, and sustainable agriculture practices.