📅 Date: 27 May 2026  |  Relevant for: Bank PO (SBI PO, IBPS PO, RRB PO), SSC CGL, SSC CHSL, UPSC & all competitive exams

📥 Download PDF – Daily Current Affairs 27 May 2026

🏛️ National News

1. Fuel Prices Revised Upward

Since May 15, 2026, fuel retailers have raised petrol by ₹7.38 per litre and diesel by ₹7.52 per litre. The repeated revisions are attributed to surging global crude oil prices linked to the West Asia crisis and mounting losses faced by oil marketing companies (OMCs). This marks one of the largest revisions in recent years and is highly relevant for current affairs-based questions on inflation and energy policy.

2. NEET-UG 2026 Controversy – Supreme Court Intervenes

The Supreme Court of India questioned the National Testing Agency (NTA) over the cancellation of NEET-UG 2026 and sought details on reform steps taken since the 2024 paper-leak controversy. The court emphasised the need for a transparent and leak-proof examination system to protect millions of medical aspirants.

3. Extreme Heat Wave – 47.6°C Recorded in Banda & Brahmpuri

Banda (Uttar Pradesh) and Brahmpuri (Vidarbha, Maharashtra) recorded the country’s highest temperature at 47.6°C. The heat wave has severely damaged Maharashtra’s Alphonso mango crop — known as the ‘King of Mangoes’ — with officials raising concerns about sustained temperatures above 45°C.

4. Eight Killed in Road Accident, Ambedkar Nagar (UP)

Eight people were killed in Ambedkar Nagar, Uttar Pradesh, when a speeding car ploughed into bystanders who had gathered to assist victims of an earlier motorcycle accident, highlighting growing road safety concerns.

5. Storm Deaths in Bihar

More than twenty people were killed over 24 hours due to storms, heavy rainfall, and lightning strikes across Bihar. Authorities issued orange alerts and deployed NDRF teams for rescue and relief operations.

6. Delhi Gymkhana Club Challenges Government Order

The Delhi Gymkhana Club legally challenged a Union Government directive to vacate its 27.3-acre premises in Lutyens’ Delhi by June 5, 2026. The case involves heritage property rights and the government’s authority over clubs in prime government estates.

7. Supreme Court on Aravalli Panel

The Supreme Court directed that the proposed expert panel to define the Aravalli hills boundary should engage ecologists and stakeholders while keeping the committee compact. The Aravalli range is critical for controlling dust storms and maintaining ecological balance in Delhi-NCR.

🌍 International News

1. Russia Restricts Computer Supplies from May 27

The Russian Ministry of Industry and Trade announced restrictions on supplies of popular computers starting 27 May 2026, as part of Russia’s ongoing drive toward technological self-sufficiency in response to Western sanctions.

2. Yemen Peace Deal – Largest Prisoner Swap Since 2014

The internationally recognised Yemeni government and the Houthi-backed Supreme Political Council signed a landmark prisoner-swap deal in Amman, Jordan, enabling the release of over 1,600 detainees — the largest in the civil war’s history since 2014.

3. US Military Attacks Iran; Iran’s Internet Restored After 87-Day Blackout

US forces launched fresh strikes on Iran while diplomacy continued. Iranian President Masoud Pezeshkian ordered the Internet in Iran to be restored, ending an 87-day blackout imposed during the Iran conflict that began three months ago.

4. Russia Kills 27+ in Ukraine Drone and Missile Attacks

At least 27 people were killed and more than 80 injured in Russian drone and missile attacks on Ukraine, drawing fresh condemnation from NATO allies.

5. Honda Suspends EV Plant Plans in Canada

Japanese automaker Honda suspended plans to build an electric vehicle (EV) plant in Ontario, Canada, citing weaker EV demand, US tariffs on Canadian automotive products, and corporate losses in Japan — a significant setback for Canada’s EV manufacturing ambitions.

6. FIFA 2026 Final Halftime Show – BTS, Madonna & Shakira Confirmed

South Korean band BTS, American pop icon Madonna, and Colombian singer Shakira will headline the first-ever FIFA World Cup final halftime show at MetLife Stadium, New Jersey, on July 19, 2026.

🏦 Indian Banking & Finance

1. RBI Approves Emirates NBD to Acquire 74% Stake in RBL Bank

In a landmark decision, the Reserve Bank of India approved UAE-based Emirates NBD to acquire up to a 74% stake in RBL Bank for approximately $3 billion — the single largest foreign investment in an Indian private sector bank. RBL Bank will be treated as a foreign bank subsidiary. The RBI relaxed the governance requirement mandating at least 50% independent directors.

2. RBI Extends Enhanced Export Credit Period to June 30, 2026

The RBI extended the enhanced export credit period of 450 days for pre- and post-shipment finance until June 30, 2026, initially introduced in November 2025 to support exporters amid West Asia disruptions.

3. Non-Bank Entities Allowed in Term Money Market

The RBI allowed NBFCs, corporates, housing finance companies, and all-India financial institutions (AIFIs) to participate in the term money market (14 days to 1 year), deepening India’s money markets and providing more liquidity management avenues.

4. RBI Introduces Forward-Looking Provisioning Norms

New provisioning norms aligned with global banking standards to encourage proactive risk recognition, moving away from reactive provisioning to strengthen the resilience of India’s banking system.

5. RBI Injects ₹81,590 Crore via VRR Auction

The RBI injected ₹81,590 crore of transient liquidity into the banking system through a 3-day Variable Rate Repo (VRR) auction to support credit growth and financial stability.

6. Budget 2026 – GST Reforms & ₹12.2 Lakh Crore Infra Allocation

Union Budget 2026 introduced key GST reforms: provisional refunds under inverted duty, removal of minimum threshold for export refunds, and elimination of the intermediary service rule to reduce disputes. The budget allocated ₹12.2 lakh crore for public infrastructure in FY 2026-27, targeting 7–7.5% economic growth.

🌐 International Banking & Finance

1. G7 Finance Ministers Meet in Paris (May 18–19, 2026)

G7 Finance Ministers and Central Bank Governors met in Paris with IMF and World Bank heads. Key discussions focused on global economic challenges from the Middle East conflict, trade tariffs, and the need for coordinated fiscal responses.

2. IMF Downgrades Global Growth Forecast to 3.1%

The IMF revised its global growth forecast down to 3.1% for 2026 (from 3.4% in 2025) in its World Economic Outlook, citing the West Asia war, rising crude oil prices, and volatile capital flows.

3. Venezuela Rejoins Global Financial System After 6-Year Freeze

The IMF and World Bank formally resumed relations with Venezuela. Interim President Delcy Rodríguez requested IMF Managing Director Kristalina Georgieva for access to $5 billion in SDRs to fund infrastructure, electricity, and water improvements.

4. IMF Extends Haiti Staff-Monitored Programme (3rd Review)

On May 21, 2026, IMF Management approved the 3rd review and extended the Staff-Monitored Program with Haiti, continuing macroeconomic stabilisation support.

🏆 International & National Sports Events

1. IPL 2026 Playoffs – RCB in Final; Ahmedabad to Host May 31 Clash

RCB defeated Gujarat Titans to advance to the IPL 2026 final on May 31 in Ahmedabad. The Eliminator between Rajasthan Royals and Sunrisers Hyderabad was held on May 27. The season recorded an all-time high of 1,349 sixes. Teen sensation Vaibhav Sooryavanshi (15 years old) was the standout young talent of the tournament.

2. ICC T20 World Cup 2026 – India & Sri Lanka to Co-Host Men’s Event

The ICC Men’s T20 World Cup 2026 will be co-hosted by India and Sri Lanka. The Women’s T20 World Cup 2026 will be held in England and Wales.

3. FIFA World Cup 2026 – USA, Canada & Mexico

The 2026 FIFA World Cup will be co-hosted by the USA, Canada, and Mexico. The final is scheduled on July 19, 2026 at MetLife Stadium in New Jersey, featuring the first-ever FIFA World Cup halftime show.

4. 2026 Winter Olympics – Milano Cortina, Italy

The 2026 Winter Olympics will be held in Milano Cortina, Italy, showcasing winter sports on a global stage.

👔 Major Appointments, Resignations & Dismissals

1. V D Satheesan – Chief Minister, Kerala

Congress leader V D Satheesan was appointed as the Chief Minister of Kerala following the party’s victory in the 2026 state elections.

2. R Vijay Anandh – MD & CEO of Scheduled Commercial Bank

The RBI cleared R Vijay Anandh as the next MD & CEO of a scheduled commercial bank for a 3-year term starting May 1, 2026.

3. Shalini Pandit – Government Nominee Director, Canara Bank

Shalini Pandit was appointed as Government Nominee Director on the board of Canara Bank.

4. Ambrish Tripathi – HR Head, Bharat Electronics Ltd (BEL)

Ambrish Tripathi was selected to lead Human Resources at Bharat Electronics Limited (BEL).

5. Dileep Sanghani – Chairman, IFFCO-MC Crop Science

Dileep Sanghani was elected as Chairman of IFFCO-MC Crop Science.

6. CBI Director Gets Second 1-Year Extension

The CBI Director received a second one-year extension of tenure amid ongoing high-profile investigations.

🔬 Major Inventions & Discoveries

1. 118 New Exoplanets Confirmed via Machine Learning on NASA TESS Data

Astronomers from the University of Warwick confirmed 118 new exoplanets and identified 2,000 more candidates using machine learning applied to data from NASA’s TESS (Transiting Exoplanet Survey Satellite).

2. Ross 318 b – New Habitable-Zone Super-Earth Candidate

Astronomers discovered Ross 318 b, a candidate temperate super-Earth with a 39.6-day orbit within the habitable zone of the nearby red dwarf star Ross 318. Minimum mass: 6.21 Earth masses.

3. James Webb Space Telescope Maps the ‘Cosmic Web’

NASA’s JWST created the clearest map yet of the universe’s “cosmic web” — the enormous dark matter filament network connecting galaxies across the observable universe.

4. Japan: Quantum W-State Detection & Ultra-Sensitive Zeptojoule Sensor

Japanese scientists developed a method to instantly detect quantum “W states” — a breakthrough for quantum computing. Researchers also built a sensor capable of detecting energy below one zeptojoule (10⁻²¹ joules).

5. New Blue Octopus Species Discovered 6,000 Feet Below the Galápagos

A mysterious blue octopus found nearly 6,000 feet beneath the Galápagos Islands was officially identified as a brand-new species, highlighting the richness of deep-ocean biodiversity.

6. AI Chip That Analyses Light & Chemicals (UC Davis)

A new AI-powered chip developed at UC Davis can analyse light and chemical compositions at micro-scale — with major applications in medical diagnostics, environmental monitoring, and wearable technology.

📝 Practice MCQs – Bank PO & SSC Exam Style

Test your knowledge with today’s current affairs questions. Select your answer and check below.

📌 Compiled by Plutus Academy | Sources: Business Standard, RBI.org.in, IMF.org, Wikipedia Current Events, ESPN Cricinfo, Adda247, PIB | Date: 27 May 2026

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