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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India’s Insolvency and Bankruptcy Code Marks a Decade Since Its Implementation in 2016

• The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, completed 10 years of implementation in 2026.
• The IBC is regarded as a watershed economic reform aimed at consolidating and modernising India’s fragmented insolvency framework.
• The Code established a creditor-driven, time-bound, and efficient insolvency resolution mechanism focused on corporate revival and value maximisation.

Key Highlights :

• As of March 2026, a total of 8,987 insolvency cases had been admitted under the IBC framework.
• Out of these, 7,102 cases had reached closure by March 2026.
• Among the closed cases, 4,099 companies (around 58%) were successfully rescued and revived.
• Another 3,003 cases ended in liquidation.
• Among rescued entities, 1,388 cases were closed due to appeal, review, or settlement, while 1,292 cases were withdrawn.
• Around 42% of the cases resolved through resolution plans were previously handled by the Board for Industrial and Financial Reconstruction (BIFR) or were defunct companies.
• Till March 2026, 1,419 cases had yielded approved resolution plans.
• The resolution process enabled creditors to realise over ₹4 lakh crore.
• Recovery realised under IBC amounted to 95% of fair value and 167% of liquidation value.
• The IBC significantly strengthened credit discipline and improved the repayment culture among borrowers.
• More than 30,000 cases filed before the National Company Law Tribunal (NCLT) were resolved at the pre-admission stage through settlements and withdrawals.
• These pre-admission settlements involved nearly ₹14 lakh crore.
• According to the Reserve Bank of India report, India’s Gross Non-Performing Asset (GNPA) ratio declined from nearly 8% in 2017 to 2.1% in September 2025.
• S&P Global Ratings upgraded India’s insolvency framework from ‘Group C’ to ‘Group B’ due to improved recovery and resolution efficiency.
• Average recovery rates improved from around 15–20% in the pre-IBC era to nearly 30% after IBC implementation.
• Average resolution timelines reduced from approximately 6–8 years before IBC to nearly 2 years under the Code.
• The Reserve Bank of India identified the IBC as the most effective mechanism for recovery of stressed assets in its 2024–25 Report on Trends and Progress of Banking in India.
• Scheduled Commercial Banks recovered around ₹1.04 lakh crore through various channels, of which nearly ₹0.54 lakh crore (52.4%) came through the IBC process.
• Recovery rates under IBC improved to 6% in 2024–25 compared to 28.3% in the previous year.
• A study by Indian Institute of Management Bangalore observed improved borrower credit behaviour after IBC implementation.
• The average overdue period of loan accounts reduced sharply from 248–344 days to 30–87 days between 2018 and 2024.
• A 2025 study by Indian Institute of Management Ahmedabad highlighted significant revival of firms resolved under IBC.
• The study found that average sales of resolved firms increased by nearly 89% within five years after resolution.
• Asset turnover ratios improved by around 131%, reflecting better operational efficiency.
• Average capital expenditure increased by approximately 106% after resolution.
• Aggregate market valuation of resolved listed firms rose from nearly ₹2.8 lakh crore to around ₹9 lakh crore over five years.
• The IBC has strengthened investor confidence, enhanced financial stability, and improved India’s overall business environment.
• The Code continues to play a major role in supporting India’s vision of “Viksit Bharat 2047” through responsible economic growth and efficient insolvency resolution.

Recent News :

• In May 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.

About Ministry of Corporate Affairs :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Harsh Malhotra

Life Insurance Corporation of India Introduces ‘New Jeevan Sathi’ Joint Life Insurance Plans for Couples

• Life Insurance Corporation of India (LIC) launched two new joint life insurance savings plans named “LIC’s New Jeevan Sathi Single Premium” and “LIC’s New Jeevan Sathi Limited Premium.”

Key Highlights :

• The new insurance products became available from June 2026.
• Both plans are joint life insurance policies designed for a married individual and his or her spouse under a single policy.
• The schemes combine savings benefits with financial protection to provide long-term financial security for couples and families.
• The plans offer features such as guaranteed returns, fixed benefits, premium waiver on first death, loan facility, and flexible payout options.
• Under both plans, the minimum Basic Sum Assured (BSA) is fixed at 临3 lakh.
• The maximum sum assured depends on Life Insurance Corporation of India’s underwriting policy and approval process.
• The minimum entry age for policyholders is 18 years.
• The maximum entry age varies according to the selected plan type and policy option.
• LIC’s New Jeevan Sathi Single Premium is a one-time premium payment plan.
• The Single Premium plan offers guaranteed additions of ₹70 per ₹1,000 of Basic Sum Assured (BSA).
• The policy term for the Single Premium plan ranges from 10 years to 25 years.
• LIC’s New Jeevan Sathi Limited Premium is a limited premium payment plan.
• The Limited Premium plan offers Premium Payment Term (PPT) options of 5 years, 10 years, or 15 years.
• The plan provides 7% guaranteed additions on the Tabular Annual Premium (TAP).
• The Limited Premium plan also includes a premium waiver benefit on the first death of either insured member.
• The policy term under the Limited Premium plan also ranges from 10 years to 25 years.

Recent News :

• In May 2026, Life Insurance Corporation of India (LIC) acquired 26 crore equity shares of Central Bank of India through open market purchases.

About Life Insurance Corporation of India (LIC):

• Headquarters (HQ): Mumbai, Maharashtra, India
• Founded: 1956

One Mobikwik Systems Limited Receives Reserve Bank of India Nod for Expansion of Offline Payment Aggregator Services

• One Mobikwik Systems Limited, the parent company of MobiKwik, received in-principle approval from the Reserve Bank of India (RBI) for a Payment Aggregator-Physical (PA-P) licence.
• The PA-P licence will enable MobiKwik to facilitate offline merchant payments across India.
• The approval allows the company to provide payment aggregation services to physical merchants.
• The services include acceptance and processing of in-store digital payments through Point-of-Sale (PoS) infrastructure, Quick Response (QR)-based payments, and merchant settlement solutions.
• MobiKwik plans to scale deployment of soundboxes and Electronic Data Capture (EDC) machines.
• The company aims to achieve 10-times growth in its merchant business by Financial Year 2027-28 (FY28).

What is a Payment Aggregator?

• A Payment Aggregator (PA) is an entity that facilitates aggregation of customer payments to merchants through one or more payment channels.
• Payment aggregators enable transactions for the purchase of goods, services, and investment products through physical or virtual merchant interfaces.

Andhra Pradesh Government and Small Industries Development Bank of India Launch Deep-Tech Angel Fund Through Ratan Tata Innovation Hub to Boost Innovation Ecosystem

• The Government of Andhra Pradesh, in collaboration with Small Industries Development Bank of India (SIDBI), announced the creation of a Deep-Tech Angel Fund.
• The initiative will be implemented through the Ratan Tata Innovation Hub (RTIH) in New Delhi.
• The programme aims to position Andhra Pradesh as a major hub for deep-tech innovation in India.
• The initiative will provide early-stage funding, industry access, ecosystem support, and global scaling opportunities for startups.
• The programme focuses on strategic sectors such as Artificial Intelligence (AI), electronics, semiconductors, quantum technologies, advanced manufacturing, and clean energy.
• Ratan Tata Innovation Hub (RTIH) will function as the central platform for startup incubation and deep-tech ecosystem development.
• Small Industries Development Bank of India (SIDBI) will provide angel funding, seed funding, and financial support for startups and the Micro, Small and Medium Enterprises (MSMEs)
• The initiative aims to strengthen India’s deep-tech ecosystem and promote innovation-driven entrepreneurship.
• The programme will support India’s leadership in emerging technologies such as AI and quantum computing beyond metropolitan cities.

Recent News :

• In May 2026, 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.

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

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi Chairs 51st PRAGATI Meeting to Review Major Infrastructure and Development Projects

• Prime Minister Shri Narendra Modi chaired the 51st meeting of Pro-Active Governance and Timely Implementation (PRAGATI) to review major infrastructure, renewable energy, sanitation, and water resource projects across the country.
• The meeting focused on ensuring faster implementation, improved inter-state coordination, and timely completion of public projects.
• During the meeting, the Prime Minister reviewed seven key infrastructure projects related to the railway, power, and road sectors across nine states involving an estimated investment of nearly ₹30,000 crore.
• Pro-Active Governance and Timely Implementation (PRAGATI) is an Information and Communication Technology-enabled multi-modal governance platform launched by the Government of India to monitor major infrastructure projects, resolve administrative bottlenecks, and strengthen coordination between the Centre and States.
• A major focus of the meeting was the expansion of rooftop solar energy in urban areas.
• Prime Minister Narendra Modi directed officials to promote rooftop solar installations in cities, residential colonies, public institutions, and urban infrastructure under a mission-mode approach to strengthen clean energy generation and energy security.
• The Prime Minister also encouraged the installation of solar panels over canals, highlighting benefits such as reduced water evaporation, efficient land utilisation, clean electricity generation, and better use of water infrastructure.
• The meeting reviewed the Ken-Betwa River Inter-linking Project, one of India’s major water infrastructure initiatives.
• Prime Minister Narendra Modi stated that the project should serve as a model for resolving inter-state water issues through cooperation, technology-driven monitoring, and timely implementation.
• The implementation progress of Swachh Bharat Mission-Urban 2.0 was also reviewed.
• The Prime Minister stressed that the mission should focus on measurable outcomes in areas such as solid waste management, waste processing plants, GOBARdhan plants, citizen participation, and continuous monitoring.
• The Cabinet Secretary informed that a system of monthly reviews for social sector schemes has been operationalised at the state level, with Swachh Bharat Mission selected as the first scheme for regular monitoring to improve accountability and implementation efficiency.

RECENT NEWS

• Honorable Prime Minister of India Shri Narendra Modi inaugurated the ambitious Ganga Expressway in Hardoi Uttar Pradesh on the 29th April, 2026. This expressway spanning around the 594 km and this six-lane (which is expandable to eight in future) expressway is one of the India’s longest greenfield corridors

Union Minister Jyotiraditya Scindia Launches Mission Queen Pineapple in Tripura

• Union Minister Jyotiraditya Scindia launched the ₹236 crore Mission Queen Pineapple in Tripura to transform the state’s Geographical Indication (GI)-tagged Queen Pineapple into a premium global brand.
• The mission will be implemented from Quarter 2 of Financial Year 2026 to Quarter 4 of Financial Year 2028 and aims to develop a complete ecosystem around Tripura’s unique Queen Pineapple variety.
• The initiative focuses on:
  • Modern infrastructure development
  • Food processing
  • Branding and exports
  • Farmer participation across the value chain
  • Reduction in post-harvest losses
  • Rural employment generation
• The mission is anchored by the Ministry of Development of North Eastern Region (MDoNER).
• Tripura’s Queen Pineapple is known for its:
  • Distinct aroma
  • Low-fibre texture
  • Natural sweetness
  • Juicy pulp
  • Chemical-free cultivation in hilly terrain
• Due to these qualities, the fruit has received the Geographical Indication (GI) tag, giving it a unique market identity. However, farmers currently receive only around ₹6–10 per kilogram at the farmgate level.
• The mission aims to shift the focus from selling raw produce to creating a globally competitive premium fruit brand by involving farmers in the complete value chain, including:
  • Cultivation
  • Aggregation
  • Processing
  • Packaging
  • Branding
  • Logistics
  • Exports
• A major component of the mission is the development of an integrated “Hub and Spoke” infrastructure model, which includes:
  • One central processing hub near Agartala airport
  • Eight collection centres in pineapple-growing districts
  • Cold storage and solar cold storage facilities
  • Reefer transport logistics
  • Grading and sorting facilities
  • Internet of Things (IoT)-enabled farm monitoring
  • Quick Response (QR)-based digital traceability systems
• The mission also includes the revival of the Nalkata Pineapple Processing Unit through Viability Gap Funding (VGF) and collaboration between North Eastern Regional Agricultural Marketing Corporation (NERAMAC) and private companies.
• The initiative follows a multi-agency convergence model involving several ministries and institutions, including:
  • Ministry of Agriculture and Farmers Welfare
  • Ministry of Food Processing Industries
  • Agricultural and Processed Food Products Export Development Authority (APEDA)
  • Ministry of Micro, Small and Medium Enterprises
  • Department for Promotion of Industry and Internal Trade (DPIIT)
  • Indian Council of Agricultural Research (ICAR)
  • Council of Scientific and Industrial Research (CSIR)
  • Tribal Cooperative Marketing Development Federation of India (TRIFED)
  • North Eastern Regional Agricultural Marketing Corporation (NERAMAC)
  • Government of Tripura

RECENT NEWS

• Union Minister Jyotiraditya Scindia has launched the ₹175 crore “Coffees of Nagaland” Mission to boost the coffee sector of Nagaland. This ambitious initiative aims to transform the northeastern state into a premium specialty coffee destination with strong domestic and global market presence.

Union Health Ministry Releases National Health Accounts Estimates 2022-23

• The Ministry of Health and Family Welfare released the National Health Accounts (NHA) Estimates 2022-23, highlighting major improvements in India’s healthcare financing system over the past decade.
• The report shows a steady rise in Government Health Expenditure (GHE), reduction in Out-of-Pocket Expenditure (OOPE), and increased public investment in healthcare infrastructure, insurance coverage, and financial protection schemes.
• The National Health Accounts (NHA) report provides estimates of healthcare expenditure in India and tracks:
  • Government health spending
  • Private healthcare expenditure
  • Household medical spending
  • Insurance coverage
  • Social security healthcare spending
• The report is prepared by the National Health Accounts Technical Secretariat (NHATS) under the National Health Systems Resource Centre (NHSRC) of the Ministry of Health and Family Welfare. The 2022-23 edition is the 10th National Health Accounts report released by India and follows the System of Health Accounts (SHA) 2011 framework.
• One of the major highlights of the report is the increase in Government Health Expenditure. Government Health Expenditure as a percentage of Gross Domestic Product increased from 15% in 2013-14 to 1.43% in 2022-23, while under the new Gross Domestic Product base year, it stood at 1.48%. Its share in General Government Expenditure also increased from 3.78% to 4.89%.
• Government health spending per person increased significantly from ₹1,042 in 2013-14 to ₹2,786 in 2022-23, reflecting expansion in healthcare programmes, infrastructure development, and welfare schemes.
• The report highlighted a major decline in Out-of-Pocket Expenditure (OOPE), which refers to medical expenses directly paid by households. Out-of-Pocket Expenditure declined from 2% of Total Health Expenditure in 2013-14 to 43.4% in 2022-23, indicating improved financial protection and stronger public healthcare financing.
• The report also noted increased public healthcare spending during the Coronavirus Disease 2019 (COVID-19) pandemic. Government Health Expenditure rose to 84% of Gross Domestic Product in 2021-22, supported by:
  • Emergency COVID Response Packages
  • Mass vaccination programmes
  • Pandemic management expenditure
• The share of Government Health Expenditure in Total Health Expenditure increased from 6% in 2013-14 to 43.7% in 2022-23, reflecting the growing role of public financing in India’s healthcare system.
• Spending through Social Security Expenditure (SSE) also increased from 6% in 2013-14 to 9% in 2022-23. This includes expenditure under:
  • Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY)
  • Government employee reimbursement schemes
  • Social health insurance programmes
• The share of private health insurance in Total Health Expenditure increased from 4% to 9.2%, indicating rising health awareness, improved health-seeking behaviour, and greater insurance penetration in the country.

Assam Legislative Assembly Passes Uniform Civil Code Bill, 2026

• The Assam Legislative Assembly passed the Uniform Civil Code (UCC) Bill, 2026, making Assam the first state in Northeast India and the third state in the country after Uttarakhand and Gujarat to adopt Uniform Civil Code legislation.
• The Bill aims to establish a common civil legal framework for all residents of the state in matters related to marriage, divorce, succession, and live-in relationships.
• The legislation was introduced by Atul Bora on behalf of Chief Minister Himanta Biswa Sarma during the first session of the 16th Assam Legislative Assembly.
• One of the major provisions of the Bill is the mandatory registration of live-in relationships. Couples living together must register their relationship with the Sub-Registrar within one month.
• Failure to register may lead to up to three months imprisonment or a fine of ₹10,000, while false declarations can attract a fine of ₹25,000 and imprisonment. The Bill also provides legal recognition to children born from registered live-in relationships.
• The Bill standardises the minimum legal marriage age at 18 years for women and 21 years for men.
• It also adopts a strict stance against child marriage, with punishment including imprisonment, fine, or both for individuals involved in conducting or facilitating such marriages.
• The legislation bans polygamy and bigamy, and violations will attract punishment under Section 82 of Bharatiya Nyaya Sanhita (BNS), 2023, with imprisonment extending up to seven years.
• The Bill also prescribes strict penalties against marriages conducted through force, coercion, threats, fraudulent information, or concealment of an existing marriage.
• The Bill prohibits marriages between close blood relatives such as brother-sister, parent-child, uncle-niece, and aunt-nephew relationships.
• However, exemptions have been provided for communities where such marriages are legally recognised under customary practices.
• Registration of both marriage and divorce has been made compulsory within 60 days. Submission of forged documents, fake certificates, or false declarations during registration may attract imprisonment and monetary penalties.
• The proposed law also includes provisions related to divorce, remarriage, and child custody. Children below five years of age will remain in the custody of the mother, while divorced individuals are protected from exploitative or coercive conditions during remarriage.
• Chief Minister Himanta Biswa Sarma clarified that tribal communities, religious rituals, traditional customs, cultural practices, and community traditions will remain outside the scope of the Uniform Civil Code in Assam.

RECENT NEWS

• Prime Minister Narendra Modi recently dedicated a modern elevated road corridor connecting Pandu Port to National Highway-27 and laid the foundation for several key inland waterway projects. These initiatives aim to boost tourism, trade, and employment in Assam while strengthening the Brahmaputra River (NW-2) as a major transport and economic corridor. 

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ajay Kochhar Takes Over as the 48th Vice Chief of the Naval Staff of the Indian Navy

• Vice Admiral Ajay Kochhar assumed charge as the 48th Vice Chief of the Naval Staff (VCNS) on 29 May 2026.
• On assuming office, he paid tribute to the fallen soldiers by laying a wreath at the National War Memorial.

About Vice Admiral Ajay Kochhar :

• Vice Admiral Ajay Kochhar is an alumnus of the National Defence Academy and was commissioned into the Indian Navy on 1 July 1988.
• He is a specialist in Gunnery and Missile Systems with over 37 years of distinguished naval service.
• He commanded several naval ships including INS Nashak, INS Vibhuti, and INS Kirpan.
• He also served as the Commissioning Commanding Officer of the frigate INS Trikand.
• Vice Admiral Ajay Kochhar commanded the aircraft carrier INS Vikramaditya and oversaw the successful integration and operationalisation of its air wing.
• At Naval Headquarters, he held important staff appointments including Joint Director Naval Plans, Director of Staff Requirements, and Principal Director DSCT.
• After promotion to Flag Rank in 2018, he served as Assistant Controller of Carrier Projects and Assistant Controller of Warship Production and Acquisition.
• In 2021, he took command of the Western Fleet of the Indian Navy.
• He later served as Commandant of the National Defence Academy (NDA) and contributed to improving training standards and infrastructure.
• He assumed charge as Chief of Staff, Western Naval Command on 25 May 2024 during a challenging maritime security situation.
• He led naval responses against conventional and non-traditional threats in the Western Maritime Theatre, including operations during Operation Sindoor.
• For his distinguished service, he was awarded the Ati Vishisht Seva Medal (AVSM) in 2022 and the Param Vishisht Seva Medal (PVSM) in 2026.
• Prior to becoming VCNS, he served as Commander-in-Chief of the Andaman and Nicobar Command.
• At the Andaman and Nicobar Command, he played a major role in enhancing jointness, integration, and operational coordination among the three armed services.

CURRENT AFFAIRS: AWARDS AND HONOURS

Sikkim Police Conferred President’s Police Colour

• The Sikkim State Police has been conferred the prestigious President’s Police Colour, one of the highest honours awarded to a police force in India.
• President Droupadi Murmu presented the honour during a ceremonial event held in Gangtok on 28 May 2026.
• The award recognises the police force for:
  • Exceptional service
  • Professional excellence
  • Distinguished record of duty
  • Commitment to public safety
  • Contribution to maintaining law and order
• President Droupadi Murmu appreciated the contribution of both serving and retired personnel of the Sikkim Police and noted that the force has been maintaining peace and public trust since its establishment in 1897.
• President Murmu observed that the role of police should extend beyond crime control and focus on strengthening community engagement and public confidence.
• The Sikkim Police was praised for maintaining peace and social harmony through:
  • Professional conduct
  • Efficient policing
  • Community engagement
  • People-friendly approach
• The President’s Police Colour is regarded as the highest ceremonial recognition awarded to a state police force in India.

United Nations to Honour Two Indian Peacekeepers; Major Abhilasha Barak Receives United Nations Gender Award

• On the occasion of the International Day of United Nations Peacekeepers, the United Nations (UN) will honour two Indian peacekeepers who lost their lives while serving under the UN flag.
• The prestigious Dag Hammarskjold Medal will be awarded posthumously to Lance Havildar Harbhajan Singh and Naib Subedar Sujit Kumar Pradhan.
• Lance Havildar Harbhajan Singh served with the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO), while Naib Subedar Sujit Kumar Pradhan served with the United Nations Mission in South Sudan (UNMISS).
• The medals will be presented by United Nations Secretary-General António Guterres during the International Day of United Nations Peacekeepers ceremony.
• Major Abhilasha Barak has been selected for the 2025 Military Gender Advocate of the Year Award.
• She is currently serving with the United Nations Interim Force in Lebanon (UNIFIL) and leads the Female Engagement Team (FET).
• Major Abhilasha Barak is recognised as the first woman combat helicopter pilot of the Indian Army.
• She becomes the third Indian officer to receive this United Nations recognition after Major Suman Gawani and Major Radhika Sen.
• India remains one of the largest contributors to United Nations peacekeeping missions, with more than 4,200 Indian military and police personnel, including 155 women peacekeepers, currently deployed worldwide.
• Indian peacekeepers are serving in missions across Abyei, Cyprus, Democratic Republic of the Congo, Lebanon, Somalia, South Sudan, and Western Sahara.
• The Dag Hammarskjold Medal is one of the highest honours awarded by the United Nations and is given posthumously to military, police, and civilian personnel who lose their lives while serving in United Nations peacekeeping operations.

CURRENT AFFAIRS : DEFENCE NEWS

INS Sudarshini Reaches Antigua and Barbuda Following Landmark Trans-Atlantic Voyage

• Indian Navy’s Sail Training Ship (STS) INS Sudarshini arrived at Antigua and Barbuda as part of the ongoing Lokayan 26 expedition.
• The ship successfully completed a historic trans-Atlantic passage, marking the first Atlantic crossing by INS Sudarshini.
• The last Atlantic crossing by an Indian Navy sail training ship was undertaken by INS Tarangini in 2007.

Key Highlights :

• INS Sudarshini was warmly received by Vijay Tewani and Telbert Benjamin.
• The longest leg of the expedition was from Mindelo, Cape Verde to Antigua, lasting 19 days.
• During the voyage, the ship sailed continuously under sail, demonstrating traditional seamanship, navigation skills, and endurance at sea.
• The crew successfully handled challenging conditions including heavy swells and strong winds through coordinated sail handling and sustained watchkeeping.
• During this leg, INS Sudarshini crossed the milestone of 10,000 nautical miles since departing from Kochi on 20 January 2026.
• The Lokayan 26 expedition aims to promote maritime outreach, strengthen international goodwill, and showcase India’s rich seafaring traditions.
• The expedition reflects India’s commitment to maritime cooperation and the philosophy of “Vasudhaiva Kutumbakam” meaning “The World is One Family.”
• Before reaching Antigua, the ship completed successful port calls across West Asia, the Mediterranean, Europe, and Africa.
• INS Sudarshini has now entered the Caribbean and American phase of the expedition.
• The ship will participate in the forthcoming SAIL 250 events in the United States.
• During its stay in Antigua, the crew will take part in professional interactions, cultural engagements, and community outreach activities.
• After Antigua, INS Sudarshini will proceed to Norfolk, USA as part of the expedition route.

Ministry of Defence Releases Request for Proposal for India’s Indigenous Fifth-Generation Stealth Fighter Advanced Medium Combat Aircraft Programme Project

• The Ministry of Defence (MoD) issued the Request for Proposal (RFP) for the Advanced Medium Combat Aircraft (AMCA) Programme in New Delhi.
• The AMCA Programme is India’s first indigenous fifth-generation stealth fighter aircraft
• The government-funded programme has an estimated prototype development cost of ₹15,000 crore.
• The project includes the development of five flying prototypes and one structural test aircraft.
• The Advanced Medium Combat Aircraft (AMCA) is a major Make in India defence initiative.
• The programme is being implemented by the Aeronautical Development Agency (ADA) under the Defence Research and Development Organisation (DRDO).
• For the first time, the Ministry of Defence excluded Hindustan Aeronautics Limited (HAL) from the manufacturing process and invited private sector participation.
• Key private sector contenders include Tata Advanced Systems Limited (TASL).
• Other contenders include the consortium of Larsen & Toubro–Bharat Electronics Limited–Dynamatic Technologies.
• Another competing consortium includes Bharat Forge Limited–BEML Limited–Data Patterns.
• A 650-acre greenfield manufacturing facility is being developed at Puttaparthi, Andhra Pradesh.
• The Core Integration and Flight Testing Centre of the Aeronautical Development Agency (ADA) will also be established at Puttaparthi.
• The infrastructure development is being carried out in collaboration with the selected private sector partner.

Indian Army Introduces ‘Q-FORCE’ App to Enhance Logistics and Sustainment Operations

• The Indian Army launched ‘Q-FORCE’, an integrated digital logistics application designed to streamline logistics and sustainment management across varied operational terrains in India.
• Q-FORCE integrates multiple logistics and inventory platforms to ensure seamless coordination and efficient management of military resources.
• The application aims to improve military logistics, supply-chain efficiency, transport coordination, and operational support during deployments.
• Q-FORCE is an integrated digital logistics management system developed for better real-time coordination, resource planning, and decision-making within the Indian Army.
• The platform supports real-time logistics monitoring, faster tracking of logistics assets, and efficient resource allocation.
• Key features include enhanced supply-chain management, improved operational readiness, and better management of logistics operations.
• The application strengthens strategic mobility, responsiveness, and emergency deployment capabilities while reducing delays and duplication in logistics activities.
• Along with Q-FORCE, the Indian Army also launched ‘Kautilya’, an Artificial Intelligence (AI)-powered command intelligence platform.
• Kautilya uses AI dashboards and Natural Language Processing (NLP)-based interfaces for structured data generation, analytics, and decision-making.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

New Light-Driven Nano-Catalyst Enables Cleaner and Cost-Effective Production of Medicines and Industrial Chemicals

• Researchers developed a novel light-driven nano-catalyst aimed at reducing the use of toxic solvents, high temperatures, and energy-intensive industrial processes.
• The innovation is expected to make the manufacturing of medicines and industrial chemicals cleaner, faster, and more energy efficient.
• The research was carried out by scientists from the Institute of Nano Science and Technology (INST), Mohali.

Key Highlights :

• Institute of Nano Science and Technology is an autonomous institute under the Department of Science and Technology (DST).
• The scientists developed a nanocomposite catalyst by combining gold nanoparticles, palladium nanoparticles, and a light-absorbing molecule called BODIPY.
• The hybrid material functions as a light-driven catalyst that uses light energy to accelerate chemical reactions more efficiently than traditional catalysts.
• According to the research published in the journal Nanoscale, the nanomaterial works through an energy transfer mechanism.
• In the process, gold nanoparticles absorb light energy and transfer it to the BODIPY molecule.
• The energy is then transferred from BODIPY to palladium, which acts as the active catalyst.
• Palladium uses the transferred energy to drive chemical reactions more efficiently, making the process faster and less energy intensive.
• The combination of gold, BODIPY, and palladium creates a highly efficient and sustainable catalytic system.
• The technology allows chemical reactions to occur under milder and more environment-friendly conditions.
• The process can use water instead of harmful solvents and light instead of high heat, reducing environmental impact.
• The technology was developed by Prakash P. Neelakandan.
• The innovation can support cleaner, cost-effective, and sustainable manufacturing of medicines and industrial chemicals.
• The technology is also expected to reduce environmental pollution, lower energy consumption, and improve access to affordable green products.

Dr. Ronaldo Laishram Leads Discovery of 12.6-Billion-Year-Old “Loktak Protocluster” Ancient Galaxy Structure

• An international research team led by Indian scientist Ronaldo Laishram discovered a 12.6-billion-year-old cosmic structure named the “Loktak Protocluster.”
• Ronaldo Laishram is associated with the National Astronomical Observatory of Japan (NAOJ).
• The discovery was formally published in The Astrophysical Journal Letters.
• The Loktak Protocluster is described as an ancient “city of galaxies” formed in the early Universe.
• The protocluster was named after Loktak Lake in Manipur.
• Loktak Lake is the largest freshwater lake in Northeast India and is famous for its floating “phumdis”.
• Phumdis are floating masses of vegetation, soil, and organic matter drifting on water.
• The Loktak Protocluster is located about 6 billion light-years away in the direction of the constellation Sextans.
• The discovery allows scientists to observe the structure as it existed when the Universe was only about 2 billion years old, nearly 9% of its current age.
• The discovery was made using combined observations from the Subaru Telescope in Hawaii and the James Webb Space Telescope (JWST) of NASA.
• Scientists used wide-field and high-resolution infrared observations to identify the ancient cosmic structure.
• The study showed that cosmic environments significantly influenced early galaxy evolution.
• Galaxies in dense regions like the Loktak Protocluster evolved differently and appeared about 4 times larger because of strong galactic interactions.

About Dr. Ronaldo Laishram:

• At the age of 18, he discovered a Main Belt asteroid through the All India Asteroid Search Campaign.
• He was honoured by former Indian President P. J. Abdul Kalam for his scientific achievement.
• Ronaldo Laishram is also the founding coordinator of the Manipur Astronomical Society (MAS).
• He is currently serving as a postdoctoral researcher at the National Astronomical Observatory of Japan in Tokyo.

11th Quadrilateral Security Dialogue Foreign Ministers’ Meeting Conducted in New Delhi

• The 11th edition of the Quadrilateral Security Dialogue (QUAD) Foreign Ministers’ Meeting (QFMM 2026) was held in New Delhi.
• The meeting was chaired by Jaishankar, Union Minister of the Ministry of External Affairs (MEA), Government of India.
• Key participants included Penny Wong from Australia, Toshimitsu Motegi from Japan, and Marco Rubio from the United States.
• One of the major highlights of the meeting was the launch of the first-ever Indo-Pacific Maritime Surveillance Collaboration (IPMSC)
• The Quad also launched the Quad Initiative on Indo-Pacific Energy Security to strengthen regional energy resilience.
• India announced that it will host the 2nd edition of the Quad-at-Sea Ship Observer Mission.
• Under the Advancing Innovations for Empowering NextGen Agriculture (AI-ENGAGE) initiative, over USD 6 million was announced as funding support for six international research projects.
• Under the newly released Quad Critical Minerals Initiative Framework, Quad partners pledged to mobilize up to USD 20 billion investment.
• The investment will support critical minerals supply chains, including mining, processing, and recycling activities.
• The Quad is a strategic grouping comprising India, United States, Japan, and Australia.

CURRENT AFFAIRS : APPS & PORTALS

Department of Administrative Reforms and Public Grievances Unveils NeSDA 2025 Portal for Enhancing E-Governance and Online Service Delivery in India

• The Department of Administrative Reforms and Public Grievances (DARPG), Government of India, launched the National e-Governance Service Delivery Assessment (NeSDA) 2025 Portal.
• The portal was launched during a meeting with Nodal Officers of Central Ministries and States/Union Territories (UTs) on 25 May 2026.
• Sarita Chauhan, Additional Secretary, DARPG, chaired the meeting and presented a detailed demonstration of the NeSDA 2025 Portal.
• The presentation covered the assessment framework, portal functionalities, submission workflows, reporting mechanisms, and assessment timelines.

Key Highlights :

• NeSDA is a biennial assessment framework developed by the Department of Administrative Reforms and Public Grievances to evaluate the effectiveness of e-Governance service delivery mechanisms from the citizen’s perspective.
• The framework is based on the Online Service Index (OSI) of the United Nations (UN) e-Government Survey and is customized for India’s federal structure.
• NeSDA assesses the availability, accessibility, and maturity of online services across States, UTs, and Central Ministries/Departments.
• The framework serves as a benchmarking exercise to improve online public service delivery and promote best practices among governments.
• NeSDA helps governments identify service delivery gaps, strengthen digital governance systems, and improve the citizen experience in accessing online public services.
• Under NeSDA 2025, all assessed government portals are classified into two categories: Government Portals and Service Portals.
• The framework covers both Government-to-Citizen (G2C) and Government-to-Business (G2B)
• Key sectors covered include Finance, Labour & Employment, Education, Local Governance & Utility Services, Social Welfare, Health, Agriculture, Home Security, Environment, Tourism, Public Grievance, and Transport & Travel.
• Ministry of Corporate Affairs (MCA) services have been newly added in the NeSDA 2025 framework.
• A total of 59 mandatory services will be assessed for every State and UT.
• Additionally, 43 services covering Central Ministries/Departments will also be evaluated.
• Important assessment parameters include Accessibility, Content Availability, Ease of Use, Information Security & Privacy, Integrated Service Delivery, Status & Request Tracking, Open Government Data (OGD), E-Participation, and Leveraging Emerging Technologies.
• The NeSDA 2025 Portal will function as an online platform for collecting assessment data from States, UTs, and Central Ministries.
• The Department of Administrative Reforms and Public Grievances will conduct stakeholder consultations, capacity-building sessions, and regular review meetings during the assessment cycle.
• All nodal officers were instructed to ensure timely submission of data, active coordination with DARPG, and proper use of the NeSDA 2025 Portal for smooth implementation of the assessment process.

About Ministry of Personnel, Public Grievances & Pensions :

• Cabinet Minister : Narendra Modi
• Minister of State : Jitendra Singh

CURRENT AFFAIRS : OBITUARIES

Veteran Indian Archer and Arjuna Award Recipient Shyam Lal Meena Passed away at 61

• Veteran Indian Olympian archer and Arjuna Award awardee Shyam Lal Meena passed away at the age of 61 in Rajasthan.
• He was born on 4 March 1965 in Kevadia village, Banswara district, Rajasthan.
• He won a bronze medal in the men’s recurve team event at the 1987 Asian Archery Championships held in Kolkata, West Bengal, along with Limba Ram and Rajat Haldar.
• The bronze medal at the 1987 Asian Archery Championships was India’s first major international medal in archery and helped the country qualify for its Olympic archery debut at the 1988 Summer Olympics.
• Shyam Lal Meena was part of India’s first-ever Olympic archery team at the 1988 Seoul Olympics along with Limba Ram and Sanjeeva Singh.
• At the 1988 Seoul Olympics, he secured 71st position in the men’s individual qualification round, while India finished 20th in the men’s recurve team event.

Awards & Honors :

• Shyam Lal Meena received the prestigious Arjuna Award in 1989 from the Ministry of Youth Affairs and Sports (MYAS) for his outstanding contribution to archery.

Daily CA One- Liner: May 29

• Prime Minister Shri Narendra Modi chaired the 51st meeting of Pro-Active Governance and Timely Implementation (PRAGATI) to review major infrastructure, renewable energy, sanitation, and water resource projects across the country
• Union Minister Jyotiraditya Scindia launched the ₹236 crore Mission Queen Pineapple in Tripura to transform the state’s Geographical Indication (GI)-tagged Queen Pineapple into a premium global brand
• The Ministry of Health and Family Welfare released the National Health Accounts (NHA) Estimates 2022-23, highlighting major improvements in India’s healthcare financing system over the past decade
• The Assam Legislative Assembly passed the Uniform Civil Code (UCC) Bill, 2026, making Assam the first state in Northeast India and the third state in the country after Uttarakhand and Gujarat to adopt Uniform Civil Code legislation
• The Sikkim State Police has been conferred the prestigious President’s Police Colour, one of the highest honours awarded to a police force in India
• On the occasion of the International Day of United Nations Peacekeepers, the United Nations (UN) will honour two Indian peacekeepers who lost their lives while serving under the UN flag.
• The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, completed 10 years of implementation in 2026.
• Life Insurance Corporation of India (LIC) launched two new joint life insurance savings plans named “LIC’s New Jeevan Sathi Single Premium” and “LIC’s New Jeevan Sathi Limited Premium.”
• One Mobikwik Systems Limited, the parent company of MobiKwik, received in-principle approval from the Reserve Bank of India (RBI) for a Payment Aggregator-Physical (PA-P) licence.
• The Government of Andhra Pradesh, in collaboration with Small Industries Development Bank of India (SIDBI), announced the creation of a Deep-Tech Angel Fund.
• Vice Admiral Ajay Kochhar assumed charge as the 48th Vice Chief of the Naval Staff (VCNS) on 29 May 2026.
• Indian Navy’s Sail Training Ship (STS) INS Sudarshini arrived at Antigua and Barbuda as part of the ongoing Lokayan 26 expedition.
• The Ministry of Defence (MoD) issued the Request for Proposal (RFP) for the Advanced Medium Combat Aircraft (AMCA) Programme in New Delhi.
• The Indian Army launched ‘Q-FORCE’, an integrated digital logistics application designed to streamline logistics and sustainment management across varied operational terrains in India.
• Researchers developed a novel light-driven nano-catalyst aimed at reducing the use of toxic solvents, high temperatures, and energy-intensive industrial processes.
• An international research team led by Indian scientist Ronaldo Laishram discovered a 12.6-billion-year-old cosmic structure named the “Loktak Protocluster.”
• The 11th edition of the Quadrilateral Security Dialogue (QUAD) Foreign Ministers’ Meeting (QFMM 2026) was held in New Delhi.
• The Department of Administrative Reforms and Public Grievances (DARPG), Government of India, launched the National e-Governance Service Delivery Assessment (NeSDA) 2025 Portal.
• Veteran Indian Olympian archer and Arjuna Award awardee Shyam Lal Meena passed away at the age of 61 in Rajasthan.