Current Affairs
Indian Current Affairs — 22 May 2026
PM Modi's 5-Nation Tour — UAE & Sweden
UAE Visit (May 15, 2026)
| Key Point | Detail |
|---|---|
| Met | UAE President Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi |
| Energy MoU | ISPRL (India) + ADNOC (UAE) — Strategic Petroleum Reserves collaboration |
| LPG Supply | IOCL + ADNOC — Long-term LPG supply agreement |
| Maritime MoU | Cochin Shipyard Ltd (CSL) + Drydocks World (DDW) — Ship repair cluster at Vadinar, Gujarat |
| Skill Dev | Tripartite pact: CSL + DDW + CEMS — Skill India Mission support |
| Investment | UAE committed USD 5 billion investment in India |
Sweden Visit (May 17–18, 2026)
| Key Point | Detail |
|---|---|
| Invited by | PM Ulf Kristersson |
| Award | PM Modi honoured with "Royal Order of Polar Star" — his 31st international honour |
| Bilateral | India-Sweden relations elevated; Joint Action Plan 2026–2030 adopted |
| Innovation | India-Sweden Joint Innovation Partnership 2.0 launched |
| Space | ISRO signed MoU with SNSA (Swedish National Space Agency) — for Shukrayaan Mission (Venus) |
| Trade | Target: double bilateral trade and investment in 5 years |
Exam Tip: Shukrayaan is India's planned interplanetary mission to Venus. ISRO-SNSA MoU is significant for GS Paper 3 (Science & Technology).
Emirates NBD to Acquire 74% Stake in RBL Bank
| Key Point | Detail |
|---|---|
| Approved by | Ministry of Finance (MoF) |
| Deal Value | USD 3 billion (≈ ₹26,850 crore) |
| Stake | 49–74% via preferential allotment + mandatory open offer |
| Shares | Up to 95.91 crore equity shares at ₹280/share |
| Agreement Date | October 18, 2025 |
| Completion Target | Q1 FY2026-27 |
| Impact | Largest FDI deal in India's banking sector; Emirates NBD gains management control of RBL Bank |
Exam Tip: RBI final approval is still pending. This classifies RBL Bank as a wholly-owned foreign bank subsidiary post-completion.
PFRDA Launches Retirement Income Schemes (RIS) under NPS
| Key Point | Detail |
|---|---|
| Authority | Pension Fund Regulatory and Development Authority (PFRDA) |
| Scheme | Retirement Income Schemes (RIS) |
| Earlier Rule | NPS accounts had to be closed by age 75; 60% tax-free withdrawal + 40% annuity mandatory |
| New Rule | Both government & non-government subscribers can continue NPS till age 85 |
| Goal | Greater flexibility in periodic payouts during decumulation phase |
India's First AI-Designed Gene Editor for Crops — Plant-OpenCRISPR1 (POC1)
| Key Point | Detail |
|---|---|
| Developed by | ICAR-CRRI (Central Rice Research Institute), Cuttack, Odisha |
| Lead Scientist | Dr. Kutubuddin Ali Molla |
| Platform | Plant-OpenCRISPR1 (POC1) — World's first AI-designed genome editing platform for plants |
| Model Crop | Rice |
| Technology | AI-designed enzymes; enables gene knockout, base editing, prime editing |
| Advantage | No foreign genes introduced; climate-resilient, disease-resistant varieties possible |
| Published in | Journal: New Phytologist (international) |
| Base | OpenCRISPR-1 (OC1) — originally designed for human cells in the USA |
Exam Tip: This is a landmark in India's agricultural biotechnology. Relevant for GS Paper 3 under Science & Technology and Agriculture.
Suryastra Rocket System — Successful Trials
| Key Point | Detail |
|---|---|
| System | Suryastra Universal Rocket Launcher |
| Developer | NIBE Limited (Pune) + Elbit Systems (Israel) |
| Test Location | Integrated Test Range (ITR), Chandipur, Balasore, Odisha |
| Strike Range | Up to 300 km |
| Procurement Order | ₹293 crore — Indian Army under Emergency Procurement (January 2026) |
| Tactical Variant (150 km) | CEP of 1.5 m |
| Strategic Variant (300 km) | CEP of 2 m |
| Target Types | Command centres, radar installations, logistics hubs |
INS Sanghmitra Launched — GRSE, Kolkata
| Key Point | Detail |
|---|---|
| Launched by | Garden Reach Shipbuilders & Engineers (GRSE) |
| Vessel Class | Shachi-class NGOPV (Next Generation Offshore Patrol Vessel) |
| Category | Buy (Indian-IDDM) — Aatmanirbhar Bharat |
| Named after | Sanghmitra — daughter of Emperor Ashoka |
| Length | ~113 m |
| Max Speed | 23 knots |
| Total Ships | 1st of 4 NGOPVs for Indian Navy |
Exercise PRAGATI 2026 — Meghalaya
| Key Point | Detail |
|---|---|
| Full Form | Partnership of Regional Armies for Growth and Transformation in the Indian Ocean Region |
| Edition | 1st ever |
| Location | Umroi Military Station, Meghalaya |
| Duration | May 18–31, 2026 |
| Organised by | Indian Army |
| Participating Nations | 12 countries: Bhutan, Cambodia, Indonesia, Laos, Malaysia, Maldives, Myanmar, Nepal, Philippines, Seychelles, Sri Lanka, Vietnam |
| Doctrine | India's SAGAR Doctrine + Neighbourhood First + Act East Policies |
| Focus | Counter-terrorism in jungle and semi-mountainous terrain |
India's 1st SME-led Semiconductor ATMP/OSAT Facility — Rajasthan
| Key Point | Detail |
|---|---|
| Inaugurated by | Union Minister Ashwini Vaishnaw (MeitY) |
| Location | Bhiwadi, Rajasthan |
| Set up by | M/s Sahasra Semiconductors Pvt. Ltd. |
| Scheme | SPECS (Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors) |
| Area | 57,000 sq. ft. |
| Investment | More than ₹150 crore |
| Also Launched | Electronics Manufacturing Cluster (EMC) at Salarpur, Khushkhera, Bhiwadi — Project cost ₹46.09 crore (GoI share: ₹20.24 crore) |
India's 1st Solar-Powered Algae Tree — Bhopal, MP
| Key Point | Detail |
|---|---|
| Inaugurated by | Vishwas Sarang (Minister, MP) |
| Location | Swami Vivekananda Park, Bhopal |
| Developer | Mushroom World Group (2 years R&D, 50+ experts) |
| Technology | Solar-powered bioreactor using microalgae to absorb CO₂ and release O₂ |
| Capacity | Equivalent to ~25 mature trees in carbon absorption |
| Pollution Reduction | Reduces particulate pollution 45–55% within 15-metre radius |
| Annual Output | Absorbs ~1.5 tons CO₂; generates ~1 ton O₂ |
NHAI — Project Saksham (Rural Women Empowerment)
| Key Point | Detail |
|---|---|
| Launched by | NHAI (under MoRTH) + Vertis Foundation |
| Objective | Skill development and employment for rural women |
| Training Centres | 12 across India |
| Beneficiaries Trained | 6,000+ youth; 4,000+ placed across sectors |
| Women Share | 80%+ of beneficiaries are women |
Mission Sikkim Organics — 51st Statehood Day
| Key Point | Detail |
|---|---|
| Launched by | Union Minister Jyotiraditya M. Scindia (MDoNER) |
| Date | 16 May 2026 (51st Sikkim Statehood Day) |
| Outlay | ₹360 crore |
| Aim | Strengthen organic farming in Sikkim |
| Background | Sikkim became 22nd state of India via Constitution (36th Amendment) Act, 1975 on 16 May 1975 |
| Also Launched | 21 development projects worth ₹223 crore (MDoNER), including NESIDS projects |
Mission Arunachal Kiwi — MDoNER
| Key Point | Detail |
|---|---|
| Launched by | Union Minister Jyotiraditya M. Scindia |
| Budget | ₹167 crore |
| Approach | Cluster-based with 6 Post-Harvest Management Hubs |
| Key Clusters | Ziro Valley (Lower Subansiri), Dirang & Kalaktang (West Kameng) |
| Target | 2,000 MT cold-chain capacity; extended shelf life of Kiwi |
| Ministries Converged | MoA&FW + MoRD + MoFPI |
Parliamentary Committee on Empowerment of Women 2026–27
| Key Point | Detail |
|---|---|
| Constituted by | Lok Sabha Speaker Om Birla |
| Chairperson | Dr. Daggubati Purandeswari (Senior BJP MP) |
| Type | Joint Parliamentary Committee (JPC) — first constituted in 1997 |
| Composition | 30 members: 20 from Lok Sabha + 10 from Rajya Sabha |
| Notable Members (RS) | Sudha Murty, PT Usha, Swati Maliwal |
| Notable Members (LS) | Hema Malini, Harsimrat Kaur Badal, Iqra Choudhary |
EAM Jaishankar's Caribbean Tour (May 2–10, 2026)
| Country | Highlights |
|---|---|
| Jamaica (May 2–4) | Met PM Andrew Holness, FM Kamina Johnson Smith; signed 3 MoUs (health, solarisation, broadcasting) |
| Suriname (May 6–7) | Co-chaired 9th Joint Commission Meeting with FM Melvin Bouva; handed over passion fruit processing facility |
| T&T (Trinidad & Tobago) | Met PM Kamla Persad-Bissessar; signed 8 MoUs in various areas of bilateral cooperation |
🇮🇶 Iraq Gets Youngest PM — Ali Falih Kadhim al-Zaidi
| Key Point | Detail |
|---|---|
| New PM | Ali Falih Kadhim al-Zaidi |
| Age | 40 years — youngest PM in Iraq's modern history |
| Nominated by | Coordination Framework |
| Outgoing PM | Mohammed Shia al-Sudani |
| Cabinet | 14 of 23 ministerial positions approved (session chaired by Speaker Haibet al-Halbousi, 266 lawmakers attended) |
GDP Forecasts Revised Downward
| Agency | Forecast for FY27 | Revision | Reason |
|---|---|---|---|
| UNDESA | 6.4% | ↓ from 6.6% | West Asia crisis; global uncertainty |
| ICRA | 6.2% | ↓ 30 bps from 6.5% | Elevated crude oil prices (West Asia conflict) |
| RBI Inflation Target | 4.9% inflation projected for FY27 — within RBI target range | — | — |
| ICRA FY26 GDP | 7.5% (10 bps below NSO's SAE of 7.6%) | — | — |
Exam Tip: UNDESA releases "World Economic Situation and Prospects" (WESP). Know the full form.
NCDEX Launches India's 1st Weather Derivatives Contract — RAINMUMBAI
| Key Point | Detail |
|---|---|
| Exchange | NCDEX (National Commodities and Derivatives Exchange) |
| Contract Name | RAINMUMBAI |
| Launch Date | June 1, 2026 |
| Developed with | IIT Bombay + IMD data |
| Tick Size | 1 mm; Lot multiplier: ₹50/mm; Max order: ₹50 lots |
| Model | CDR — Cumulative Deviation Rainfall model |
| Settlement | Cash-settled; IMD surface data (Santa Cruz + Colaba stations) |
| Dataset | 30-year historical rainfall (1991–2020) |
| Target Users | Farmers, construction firms, power utilities, logistics, banks |
Prudential Buys 75% Stake in Bharti Life Insurance
| Key Point | Detail |
|---|---|
| Acquirer | Prudential plc (British insurer) |
| Target | Bharti Life Insurance Company Limited |
| Deal Value | ₹3,500 crore (≈ USD 389 million) |
| Stake Breakdown | 60% from Bharti Life Ventures Pvt. Ltd + 15% from 360 ONE Asset Management |
| Condition | Prudential must reduce ICICI Prudential Life Insurance stake below 10% |
India's 1st AI-Powered Phygital Bank Branch — Guwahati
| Key Point | Detail |
|---|---|
| Inaugurated by | CM Himanta Biswa Sarma, Assam |
| Bank | Slice Small Finance Bank (Slice SFB) |
| Location | Guwahati, Assam |
| Feature | AI-enabled customer support, digital onboarding, smart service systems |
| Model | Phygital = Physical infrastructure + Digital technology |
Tata Power + Bhutan's DGPC — Clean Energy MoU
| Key Point | Detail |
|---|---|
| Parties | Tata Power (TPCL) + Druk Green Power Corporation (DGPC), Bhutan |
| Target | Develop 5,000 MW clean energy capacity in Bhutan |
| Signatories | Dr. Praveer Sinha (CEO, TPCL) + Dasho Chhewang Rinzin (MD, DGPC) |
| Skill Dev | Via Tata Power Skill Development Institute (TPSDI) |
Bajaj General Insurance — MHCP EDGE+
| Key Point | Detail |
|---|---|
| Plan Name | My Health Care Plan Edge+ (MHCP EDGE+) |
| Coverage | ₹5 lakh to ₹5 crore |
| Eligibility Age | From 3 months; lifetime renewability; up to 5-year tenure |
| Key Feature | Unlimited reinstatement, AYUSH coverage, global treatment |
International Booker Prize 2026
| Key Point | Detail |
|---|---|
| Winners | Author: Yáng Shuāng-zǐ (Taiwanese) + Translator: Lin King (Taiwanese-American) |
| Book | Taiwan Travelogue |
| Significance | First Mandarin Chinese novel to win International Booker Prize |
| Ceremony | Tate Modern, London, UK |
| Prize | £50,000 shared equally between author and translator |
| Other Awards | 2024 US National Book Award (Translated Literature), Japan's Best Translation Award 2024, Taiwan's Golden Tripod Award 2021 |
Kami Rita Sherpa & Lhakpa Sherpa — New Everest Records
| Mountaineer | Record | Count |
|---|---|---|
| Kami Rita Sherpa ('Everest Man') | Most male Everest ascents | 32nd time |
| Lhakpa Sherpa ('Mountain Queen') | Most female Everest ascents | 11th time |
Mount Everest (8,849 m): Known as Sagarmatha (Nepali) & Chomolungma (Tibetan); first climbed in 1953 by Edmund Hillary & Tenzing Norgay.
HAL's K.K. Venugopal — First Indian Fellow of SETP (USA)
| Key Point | Detail |
|---|---|
| Person | Group Captain K.K. Venugopal (Retd), HAL |
| Recognition | First Indian test pilot elected as Fellow of SETP (Society of Experimental Test Pilots, USA) |
| Current Role | Executive Director & Chief Test Pilot (Fixed Wing), HAL |
| Award | Vayu Sena Medal (VSM) in 2004 |
BWSSB — Top 5 Global Water Utilities, Madrid 2026
| Key Point | Detail |
|---|---|
| Body | Bengaluru Water Supply and Sewerage Board (BWSSB) |
| Event | Global Water Summit 2026, Madrid, Spain (May 18–20) |
| Categories | Top 5 in: Utility of the Year, SDG-6 Champion of the Year, Water Project of the Year |
| Significance | Only Indian water utility in top 5 across 3 global categories |
| Project Highlighted | Cauvery Stage V Drinking Water Project |
Ishaan Khatter — Honorary Membership, 45 Cavalry Regiment
| Key Point | Detail |
|---|---|
| Honour | Honorary membership of 45 Cavalry Regiment, Indian Armoured Corps |
| Reason | Portrayal of Captain Balram Mehta in film Pippa |
| Film Based on | Book The Burning Chaffees by Balram Singh Mehta |
| Director | Raja Krishna Menon |
| Other Achievement | Only Indian male actor on 2026 Gold House Gold 100 list |
Tonbo Imaging — Indian Navy HPM Contract (ADITI 3.0)
| Key Point | Detail |
|---|---|
| Company | Tonbo Imaging (defence tech) |
| Contract | Indian Navy — under ADITI 3.0 innovation framework |
| System | High Power Microwave (HPM) — directed-energy weapon |
| Purpose | Counter electronic and unmanned threats (drone swarms, enemy electronics) |
| Supported by | iDEX + DIO (Ministry of Defence) |
PRACTICE MCQs
Which organisation launched India's first exchange-traded weather derivatives contract 'RAINMUMBAI' in May 2026?
Plant-OpenCRISPR1 (POC1), the world's first AI-designed genome-editing platform for plants, was developed by which Indian institution?
The Ministry of Finance approved Emirates NBD to acquire up to what percentage stake in RBL Bank?
India's first SME-led semiconductor ATMP/OSAT facility was inaugurated at which location?
PM Narendra Modi received the 'Royal Order of Polar Star' during his 2026 visit to which country?
Under the new PFRDA Retirement Income Schemes (RIS) framework, NPS subscribers can now continue their accounts up to what age?
The multilateral military exercise 'PRAGATI 2026' was conducted in which state of India?
Which work won the International Booker Prize 2026?
UNDESA revised India's GDP growth forecast for FY2026-27 downward to which figure in May 2026?
INS Sanghmitra, launched by GRSE in May 2026, is named after whom?