📥 Download PDF — Current Affairs 28 May 2026

🇮🇳 1. National News

Karnataka Leadership Change: CM Siddaramaiah Resigns

Karnataka Chief Minister Siddaramaiah submitted his resignation to Governor Thaawarchand Gehlot on 28 May 2026, honouring the Congress party’s rotational power-sharing pact agreed after the 2023 Assembly elections. Deputy CM D.K. Shivakumar is set to be sworn in as the 24th Chief Minister of Karnataka on 30 May 2026 at a grand ceremony. The Congress high command offered Siddaramaiah a Rajya Sabha seat and a senior AICC portfolio as part of a graceful transition.

Eid ul-Adha (Bakrid) 2026 Celebrated Across India

Eid ul-Adha, also known as Bakrid, was observed across India on 28 May 2026 (10 Dhul Hijjah 1447 AH). The festival commemorates Prophet Ibrahim’s devotion and faith. Banks across multiple states — SBI, HDFC Bank, ICICI Bank, Canara Bank — remained closed. BSE and NSE also remained shut for the day. Online banking, UPI, and ATM services continued to function normally.

• Key Fact: Eid ul-Adha falls on the 10th day of Dhul Hijjah, the last month of the Islamic calendar.
• It coincides with the Hajj pilgrimage in Saudi Arabia.
• Qurbani (animal sacrifice) is one of the key rituals, with meat distributed among the poor.

Union Budget 2026: Rs 20,000 Crore for Green Technology

The Union Budget 2026 earmarked Rs 20,000 crore over five years for the deployment of Carbon Capture, Utilisation and Storage (CCUS) across key industrial sectors, as part of India’s climate commitments.

🌍 2. International News

US-Iran Military Conflict & Diplomatic Talks

US military forces struck Iranian missile launch sites and naval boats in late May 2026 as peace negotiations continued. President Trump convened a Cabinet meeting to assess the situation. Israel declared it would intensify attacks against Hezbollah in Lebanon, including strikes near the Qaraoun Dam in the Bekaa Valley. Envoys are engaged in active shuttle diplomacy to broker an end to the three-month-old conflict.

Iran Internet Blackout Partially Lifted After 88 Days

Iranian President Masoud Pezeshkian ordered partial restoration of internet access after an 88-day nationwide internet blackout — described as the longest in modern history — signalling a shift in policy amid international pressure.

Europe Heatwave — London Hits 35°C

Unprecedented heat gripped Europe in late May 2026. London recorded temperatures near 95°F (35°C) for two consecutive days, triggering government health advisories across multiple European countries.

Ecuador Maritime Incidents

Fishermen in Ecuador alleged US-flagged vessels attacked and destroyed their boats. The incidents are part of over 50 US maritime enforcement strikes across the Eastern Pacific and Caribbean, which have reportedly killed nearly 200 people.

🏦 3. News Related to Indian Banking & Finance

RBI Approves Emirates NBD’s 74% Stake in RBL Bank

The Reserve Bank of India (RBI) granted approval for UAE-based Emirates NBD to acquire up to a 74% stake in RBL Bank for approximately $3 billion (~Rs 25,000 crore) — the largest-ever foreign investment in an Indian private sector bank.

RBI Caps Loans for Share/Securities Purchases

The RBI capped individual loans for purchasing shares and securities at Rs 1 crore across the banking system. Borrowing for IPOs, FPOs, and ESOPs is limited to Rs 25 lakh per individual to curb speculative leverage.

Export Credit Facility Extended to 450 Days

The RBI extended the enhanced export credit period to 450 days (pre- and post-shipment) until 30 June 2026, supporting exporters affected by disruptions from the West Asia conflict.

RBI Injects Rs 81,590 Crore into Banking System

The RBI injected Rs 81,590 crore of transient liquidity via a three-day Variable Rate Repo (VRR) auction at a cut-off rate of 5.26% p.a.

RBI Penalises Three Public Sector Banks

• Union Bank of India — delays in crediting accounts in unauthorised transaction cases
• Bank of India — lapses in priority sector lending norms
• Central Bank of India — deficiencies in KYC norms

R Vijay Anandh Appointed as CUB MD & CEO

The RBI cleared R Vijay Anandh as the new MD & CEO of City Union Bank (CUB) for a three-year term starting 1 May 2026.

🌐 4. News Related to International Banking & Finance

IMF Cuts Global Growth Forecast to 3.1% for 2026

The IMF revised its global growth forecast for 2026 to 3.1% (from 3.4% in 2025), citing geopolitical risks, the West Asia conflict, and inflationary pressures from elevated crude oil prices.

IMF & World Bank Resume Relations with Venezuela

The IMF and World Bank formally resumed relations with Venezuela after the US-facilitated political transition. Interim President Delcy Rodríguez requested $5 billion in Special Drawing Rights (SDRs).

G7 Finance Ministers Meet in Paris

G7 Finance Ministers and Central Bank Governors convened in Paris on 18-19 May 2026 to coordinate policy on global economic challenges, inflation, and geopolitical risks.

IMF Near-term Financing Demand: ~$50 Billion

IMF MD Kristalina Georgieva stated near-term demand for IMF financing could reach $50 billion. World Bank President Ajay Banga is mobilising $20-25 billion in rapid financing for developing nations.

🏆 5. International Sports Events

IPL 2026 — Final Set for 31 May at Narendra Modi Stadium

The 19th season of IPL (2026) is in its playoff stage. Rajasthan Royals progressed through Qualifier 2. The IPL 2026 Final is on 31 May 2026 at the Narendra Modi Stadium, Ahmedabad. Royal Challengers Bengaluru (RCB) are defending champions. The tournament featured 10 teams, 74 matches, and 13 venues.

FIFA World Cup 2026 — USA, Canada, Mexico

The FIFA World Cup 2026 is scheduled across the USA, Canada, and Mexico — the first edition with 48 participating teams. Qualifying rounds are in advanced stages globally.

🎖️ 6. Major Appointments, Resignations & Dismissals

🔬 7. Major Inventions & Discoveries

Quantum ‘W States’ Detected Instantly — Japan

Scientists in Japan developed a method to instantly detect quantum ‘W states’ — a major milestone for quantum communication and computing that could help unlock quantum teleportation.

118 New Exoplanets Confirmed via AI — University of Warwick

Astronomers confirmed 118 new exoplanets with 2,000+ additional candidates using machine learning applied to NASA’s TESS data, dramatically expanding our map of potential habitable worlds.

Vitamin K Compounds May Regenerate Brain Neurons — Japan

Japanese scientists created Vitamin K-based compounds that may help the brain regenerate lost neurons — a potential breakthrough for treating Alzheimer’s and Parkinson’s disease.

Nasal Spray May Reverse Brain Aging — Texas A&M University

Researchers at Texas A&M University developed a nasal spray shown (in animal trials) to reverse brain aging by calming neuroinflammation and restoring brain energy systems.

NASA Psyche Spacecraft Uses Mars Gravity Assist

NASA’s Psyche spacecraft used Mars’s gravitational pull as a slingshot to accelerate its journey toward a metal-rich asteroid in the asteroid belt — a rare object that may be the exposed iron-nickel core of a planetesimal.

📝 Practice Quiz — 5 MCQs (SSC / Bank PO Format)

Attempt the questions below. Answers are provided at the bottom of each question.

📥 Download PDF — Current Affairs 28 May 2026

Sources: PTI, PIB, Business Standard, Business Today, RBI.org.in, IMF.org | Compiled by Plutus Academy