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Daily Current Affairs 15th May 2026 Daily GK Update
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National News
GDP data release date fixed to the 7th of June every year
- The Government has revised the release schedule of Provisional Estimates of Annual GDP and Q4 Quarterly GDP, shifting it from the last working day of May to 7th June every year (or the previous working day if it is a holiday).
- The decision has been taken after consultation with the Advisory Committee on National Accounts Statistics (ACNAS) to ensure better coordination and accuracy in national accounts reporting.
- The revision aims to strengthen data quality, coverage, and robustness in national accounts compilation, reflecting ongoing efforts by the Ministry of Statistics and Programme Implementation (MoSPI).
Uber Partners with Adani Group to Set Up First Data Centre in India
- Uber will set up its first data centre in India in partnership with the Adani Group, strengthening its digital infrastructure presence in the country.
- Earlier in January 2026, Adani Enterprises Limited (AEL) announced plans to invest over ₹5,000 crore in a 100 MW renewable energy-powered data centre project, which is expected to generate around 600 direct and indirect jobs and involve collaboration with MSMEs and start-ups.
IndiaAI Mission Partners with Karya to Strengthen Inclusive AI Ecosystem
- The IndiaAI Mission (MeitY) has signed an agreement with Karya (a nonprofit organisation) to strengthen India’s inclusive artificial intelligence ecosystem by enhancing collaboration in data, technology, and capacity building.
- The partnership focuses on the development and sharing of high-quality language and multimodal datasets, along with strengthening AI infrastructure such as AI Kosh, model evaluation frameworks, and dataset quality standards.
- It will also promote capacity building and ecosystem development through training programmes, workshops, technical consultations, and knowledge-sharing initiatives across government and partner institutions to build more inclusive and representative AI systems.
Cabinet approves MSP hike for Kharif crops for 2026-27 season
- The Cabinet Committee on Economic Affairs (CCEA) has approved an increase in Minimum Support Prices (MSP) for 14 Kharif crops for Marketing Season 2026–27, aiming to ensure remunerative prices for farmers and strengthen agricultural income.
- The estimated MSP payout to farmers is around ₹2.60 lakh crore, with expected procurement of over 824 lakh metric tonnes of Kharif crops during the season, reflecting large-scale government procurement support.
- The highest MSP increase has been announced for Sunflower Seed (₹622/quintal), followed by Cotton (₹557/quintal) and Sesamum (₹500/quintal), while key MSPs include Paddy (₹2,461/quintal), Bajra (₹2,900/quintal), and Tur (₹8,450/quintal).
Centre releases first instalment of Rs 401.50 crore for court infrastructure scheme
- Union Minister of State (Independent Charge) for Law and Justice Arjun Ram Meghwal released the first instalment of ₹401.50 crore (FY 2026–27) under the Centrally Sponsored Scheme (CSS) for the development of infrastructure facilities in district and subordinate courts across States and Union Territories via the PFMS system.
- The scheme aims to strengthen judicial infrastructure and improve “ease of justice”, with proposals including a new component of “Waiting Hall for Litigants”, while also extending the scheme’s tenure up to 2030–31 and a temporary extension granted till September 30, 2026.
- Since inception, the scheme has released ₹12,844.72 crore, leading to construction of 6,345 court halls and 4,023 residential units, with additional infrastructure currently under development to enhance judicial capacity nationwide.
Union Cabinet Approves ₹37,500 Crore Scheme to Boost Coal and Lignite Gasification in India
- The Union Cabinet approved a ₹37,500 crore incentive scheme to promote surface coal and lignite gasification projects in India, aiming to boost domestic syngas production.
- The scheme focuses on developing a coal-to-chemical ecosystem and enhancing energy security by encouraging large-scale coal and lignite gasification.
- The government targets gasification of around 75 million tonnes (MT) of coal and lignite, contributing to the broader national goal of 100 MT coal gasification by 2030.
- Maximum Incentive Limits
- Maximum incentive for one project: ₹5,000 crore.
- Maximum support for one product category: ₹9,000 crore.
- Maximum support for one company/group: 12,000 crore.
About Coal Gasification
- Coal gasification is a thermo-chemical process that converts coal or lignite into synthesis gas, commonly known as syngas, a mixture primarily composed of carbon monoxide (CO) and hydrogen (H₂).
- Unlike direct combustion, gasification allows controlled conversion of coal into a clean and versatile industrial feedstock.
India Signs Tripartite MoU to Develop First Mega Greenfield Shipyard in Tamil Nadu’s Thoothukudi Under Maritime Vision 2047
- India signed a tripartite MoU to develop its first Mega Greenfield Shipyard at Thoothukudi, Tamil Nadu, marking a major step in strengthening India’s shipbuilding infrastructure.
- The proposed shipyard will have an annual shipbuilding capacity of 2.5 million Gross Tonnage (GT), significantly boosting domestic maritime manufacturing capabilities.
- The MoU was signed between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), NSHIP-TN, and Sagarmala Finance Corporation Limited (SMFCL) under the India–South Korea maritime cooperation framework VOYAGES.
- Under the Maritime Amrit Kaal Vision 2047, India aims to become a top five global shipbuilding nation, targeting a production capacity of 4.5 million GT annually by 2047.
Banking And Financial News
PSBs Post Record ₹1.98 Lakh Crore Profit in FY26, Asset Quality Hits Multi-Year High
- Public Sector Banks (PSBs) recorded a historic net profit of ₹1.98 lakh crore in FY 2025–26, marking their fourth consecutive year of strong financial performance driven by improved asset quality and credit growth.
- The aggregate operating profit of PSBs stood at ₹3.21 lakh crore, while overall business rose 12.8% to ₹283.3 lakh crore, with deposits increasing 10.6% and gross advances surging 15.7% year-on-year.
- Asset quality improved significantly, with gross NPA falling to 1.93% and net NPA to 0.39%, while provisioning coverage remained above 90%, reflecting strong risk management and balance sheet stability.
- Fresh slippages declined to 0.7%, and total recoveries, including written-off accounts, reached ₹86,971 crore, indicating better recovery mechanisms and stronger credit discipline across PSBs.
India’s Wholesale Inflation Surges to 8.3%, Highest in Three-and-a-Half Years
- India’s wholesale inflation rose to 3% in April 2026, marking the fastest increase in nearly 3.5 years and indicating rising price pressure in the economy.
- Wholesale inflation in India is measured through the Wholesale Price Index (WPI), which tracks changes in prices of goods at the wholesale level.
- The Department for Promotion of Industry and Internal Trade (DPIIT) releases the WPI data on the 14th of every month, and the current base year for WPI is 2011-12.
Recent WPI-based Wholesale inflation in India
- January 2026 – 1.81%
- February 2026 – 2.13%
- March 2026 – 3.9%
NaBFID raises 14,000 crore through 10-year bonds at 7.74%
- State-owned National Bank for Financing Infrastructure and Development (NaBFID) raised ₹4,000 crore through 10-year bonds at a cut-off yield of 7.74%.
- The bond issuance is considered significant because most issuers recently preferred short-term borrowings (2–3 years) amid global uncertainty, yield volatility, and investor caution due to the West Asia crisis.
- NaBFID successfully accepted the entire issue, including the greenshoe option, while several State Development Loans (SDLs) of states like Tamil Nadu were offering yields in the 7.73%–7.85% range.
IEPFA Signs MoU with Prasar Bharati to Boost Nationwide Investor Awareness Campaigns
- Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, signed an MoU with Prasar Bharati to enhance investor awareness through informative messages on Doordarshan’s national and regional channels.
- The initiative aims to improve financial literacy and educate citizens about investor-related services such as the Search Facility and filing claims through Form IEPF-5.
- The awareness campaign will also focus on promoting safe investment practices, spreading awareness against financial frauds, and empowering investors with accurate and timely information.
MSCI Adds Federal Bank, Indian Bank, MCX & Nalco to Global Standard Index in May Review
- Global index provider MSCI added Federal Bank, Indian Bank, Multi-Commodity Exchange of India (MCX), and National Aluminium Company (Nalco) to its Global Standard Index in the May 2026 review.
- The inclusion of these four companies is expected to attract nearly $1.38 billion in passive fund inflows, while stocks such as Hyundai Motor India, Kalyan Jewellers India, Rail Vikas Nigam, and Jubilant FoodWorks will face estimated outflows of about $715 million after exclusion.
- Adani Energy Solutions became ineligible for inclusion because it is under the NSE’s Additional Surveillance Measure (ASM) framework, while MSCI also added 14 companies to its India Small Cap Index.
Appointment News
CII Elects Tata Chemicals CEO R Mukundan as President for 2026–27
- The Confederation of Indian Industry (CII) elected R Mukundan, MD & CEO of Tata Chemicals, as its President for 2026–27, succeeding Rajiv Memani after the formation of the new National Council.
- Dr Suchitra K Ella, Co-founder and MD of Bharat Biotech International, was appointed as President-Designate, while Shashwat Goenka of RP-Sanjiv Goenka Group became the Vice-President for 2026–27.
Sports News
Faustino Oro Becomes Second Youngest Grandmaster in Chess History at Just 12 Years of Age
- IM Faustino Oro of Argentina created history by securing his final Grandmaster (GM) norm with a round to spare at the Sardinia World Chess Festival in Italy, becoming the second-youngest GM ever.
- At just 12 years, 6 months, and 26 days, he achieved the prestigious chess title, earning his third and final GM norm and marking a major milestone in chess history.
- Known as the “Messi of Chess”, Oro secured the norm after defeating IM Bartłomiej Niedbała, converting a seemingly drawn endgame into a victory with strong queenside play.
Important Days
15 May – International Day of Families
- International Day of Families is observed every year on 15 May to highlight the importance of families as the basic unit of society and to promote awareness about social, economic, and demographic issues affecting families worldwide.
- Theme 2026 – Families, Inequalities and Child Wellbeing
- The day encourages governments and organisations to support family-oriented policies, focusing on areas such as education, health, gender equality, and sustainable development.
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