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Daily Current Affairs 7th May 2026 Daily GK Update
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National News
Andaman & Nicobar Islands Set Guinness World Record with Largest Underwater National Flag Near Havelock Island
- The Andaman and Nicobar Islands set a Guinness World Record by deploying the world’s largest underwater national flag near Havelock Island.
- The Indian national flag measured 60m × 40m, making it the largest underwater flag ever displayed.
- The dive operation was led by D. K. Joshi, with participation from the Indian Navy, Coast Guard, police, and professional divers.
South Coast Railway Zone to Be Notified on June 1, 2026, as India’s 18th Railway Zone with HQ in Visakhapatnam
- The Union Government will notify the South Coast Railway Zone (SCoR) on 1 June 2026, making it India’s 18th railway zone, with headquarters at Visakhapatnam.
- The new zone will strengthen railway administration in Andhra Pradesh by reorganizing divisions, including Guntakal, Guntur, Vijayawada, and a newly created Visakhapatnam division.
- The project received Cabinet approval in February 2025, and the foundation stone for the headquarters was laid by Narendra Modi, with land allocated at Mudasarlova.
Siemens Mobility Delivers First D9 Freight Locomotive to Indian Railways
- Siemens Mobility has delivered the first of 1,200 electric freight locomotives to Indian Railways under a €3-billion contract signed in 2023.
- The company also jointly inaugurated the first maintenance depot for the project at Visakhapatnam.
- The D9 locomotives are India’s most powerful (9,000 hp) six-axle electric freight engines, capable of speeds up to 120 km/h, and are the first Indian rolling stock tested to the EN 14363 European standard.
Cabinet Approves ₹5,659 Crore Mission for Cotton Productivity to Boost Output and Quality by 2031
- The Union Cabinet, chaired by Narendra Modi, approved ₹5,659.22 crore for the Mission for Cotton Productivity (2026–27 to 2030–31) to address challenges in India’s cotton sector.
- The mission aligns with the Government’s 5F vision (Farm to Fibre to Factory to Fashion to Foreign) to strengthen the textile value chain.
- It will be implemented by the Ministry of Agriculture and Farmers Welfare and Ministry of Textiles, with support from the Indian Council of Agricultural Research, Council for Scientific and Industrial Research, and All India Coordinated Research Projects (AICRPs) on Cotton.
- The mission aims to boost cotton production to 498 lakh bales and increase productivity from 440 kg/ha to 755 kg/ha by 2031.
- It also complements initiatives like Kasturi Cotton Bharat, a premium cotton branding and certification programme.
Cabinet Approves ₹3,936 Crore Semiconductor Projects to Boost India’s Chip Ecosystem
- The Union Cabinet has approved two new semiconductor projects worth ₹3,936 crore to strengthen India’s semiconductor ecosystem and boost employment.
- The projects—Crystal Matrix Limited and Suchi Semicon Private Limited—have been cleared under the India Semiconductor Mission (ISM).
- Crystal Matrix Limited will set up a facility in Dholera for compound semiconductor fabrication and ATMP, while Suchi Semicon will establish an OSAT facility in Surat.
- With these approvals, total projects under ISM have reached 12, with cumulative investments of around ₹1.64 lakh crore.
India Relaxes FDI Norms, Allows Up to 10% Investment from Bordering Countries via Automatic Route
- The Government of India has amended FDI rules under Foreign Exchange Management Act, allowing overseas companies with up to 10% ownership from land-bordering countries (like China) to invest through the automatic route.
- This marks a significant relaxation from the 2020 rules, where even 1% shareholding from neighbouring countries required government approval.
- Under the new 2026 rule, non-controlling stakes up to 10% from such countries no longer need prior approval, simplifying foreign investment procedures.
Larsen & Toubro Bags ₹2,500–₹5,000 Crore Coal-to-Ammonium Nitrate Project in Odisha
- Larsen and Toubro has secured a ₹2,500–₹5,000 crore contract to develop a coal-to-ammonium nitrate project in Odisha.
- Bharat Coal Gasification and Chemicals Limited, a joint venture of Coal India Limited and Bharat Heavy Electricals Limited, has awarded the project.
Karnataka Launches India’s First State-Led Centre of Excellence for Space Technology in Bengaluru
- The Karnataka Government has launched India’s first state-led Centre of Excellence for Space Technology (COE SpaceTech Foundation) in Bengaluru.
- The centre has been established by the Karnataka Innovation and Technology Society in collaboration with the SatCom Industry Association of India.
About Karnataka
- Capital – Bengaluru
- Chief Minister –Siddaramaiah
- Deputy Chief Minister – DK Shivakumar
- Governor – Thawar Chand Gehlot
Banking And Financial News
NSE Launches Electronic Gold Receipts, Enables Dematerialisation of Physical Gold for Trading
- The National Stock Exchange has launched Electronic Gold Receipts (EGRs) as a new instrument for gold trading in India.
- EGRs are electronic records representing ownership of physical gold stored in approved vaults.
- As part of the launch, NSE also successfully demonstrated the dematerialisation of a 1000-gram gold bar into an Electronic Gold Receipt.
About National Stock Exchange of India (NSE)
- NSE is the largest financial market in India.
- NSE is the first dematerialized electronic exchange in the country.
- Founded – 1992
- Headquarters – Mumbai, Maharashtra
- Managing Director & CEO – Ashish Kumar Chauhan
Appointment News
Kumar Mangalam Birla Takes Charge as Vodafone Idea Chairman
- Kumar Mangalam Birla has taken over as the Chairman of Vodafone Idea Ltd (Vi) after the resignation of former Chairman Ravinder Takkar.
Recent Appointments
- Full-Time NITI Aayog Members – R. Balasubramaniam and Joram Aniya
- Chairman of Prasar Bharati – Prasoon Joshi
- President of National Company Law Tribunal – Anupinder Singh Grewal
- Director for 57th International Film Festival of India – Ashutosh Gowariker
Sports News
Apaar Saxena Earns International Master Title After Strong European Performances
- Apaar Saxena has earned the prestigious International Master (IM) title after achieving all three required norms with strong performances across Europe.
- He hails from Karnataka.
Important Days
4 May – International Firefighters’ Day
- International Firefighters’ Day is observed every year on 4 May to honour the bravery, sacrifice, and dedication of firefighters around the world.
- The date is associated with Saint Florian’s Day, as Saint Florian is regarded as the patron saint of firefighters.
5 May 2026- World Asthma Day
- World Asthma Day is observed every year on the first Tuesday of May to raise awareness about the chronic respiratory disease Asthma. This year was celebrated on 5 May.
- Theme 2026 – Access to anti-inflammatory inhalers for everyone with asthma – still an urgent need
- The day is organised by the Global Initiative for Asthma to promote better prevention, diagnosis, and management of asthma worldwide.
6 May – International No Diet Day
- International No Diet Day is observed every year on 6 May to promote body acceptance and challenge diet culture and unrealistic beauty standards.
- The day was initiated by Mary Evans Young in 1992 to encourage self-confidence and raise awareness about the risks of extreme dieting.
- It highlights the importance of healthy lifestyles, mental well-being, and embracing all body types without stigma or discrimination.
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