🇮🇳 National News

1. PM Modi Hosts 19th Rozgar Mela – 51,000+ Appointment Letters Distributed

Prime Minister Narendra Modi distributed more than 51,000 appointment letters to newly recruited youth across various Government departments and organisations at the 19th Rozgar Mela. The initiative is central to the government’s commitment to direct employment generation and the overarching ‘Viksit Bharat’ (Developed India) mission targeting 2047.

2. Cyprus President Nikos Christodoulides Pays State Visit to India (May 20–23, 2026)

The President of the Republic of Cyprus, Mr. Nikos Christodoulides, paid a State Visit to India from May 20–23, 2026, at the invitation of PM Modi. Both leaders explored bilateral cooperation in trade, technology, and people-to-people relations, reinforcing India’s growing presence on the European diplomatic stage.

3. US Secretary of State Marco Rubio Visits India – Quad Ministerial Meeting

U.S. Secretary of State Marco Rubio arrived in India ahead of a Quad ministerial meeting with counterparts from India, Australia, and Japan. The visit signals deepening Indo-Pacific cooperation under the Quad framework amid a period of heightened geopolitical competition in Asia.

4. One Year After Operation Sindoor – India-Pakistan Conflict Anniversary

May 2026 marks the first anniversary of Operation Sindoor, India’s precision military strikes on terrorist camps in Pakistan conducted in May 2025, following the Pahalgam terror attack that killed 26 civilians. A ceasefire came into effect on May 10, 2025. Key lessons: India demonstrated that nuclear threats will not constrain conventional military responses; however, targeted camps have since relocated deeper inside Pakistan.

5. India Signs Trade Deals with EU and US – Viksit Bharat Progress

PM Modi, addressing Parliament, highlighted recently concluded trade agreements with the European Union and United States, terming them a reflection of global confidence in India’s economic stability. India continues its trajectory towards a Viksit Bharat by 2047, backed by high GDP growth and moderating inflation.

🌍 International News

1. US–Iran Peace Framework: 60-Day Ceasefire Agreement Nears Finalisation (May 24, 2026)

As of May 24, 2026, the United States and Iran are close to signing an MoU that could formally end their military conflict. Key terms include a 60-day ceasefire extension, reopening of the Strait of Hormuz, Iran’s freedom to sell oil, and structured talks on Tehran’s nuclear enrichment programme. President Trump had demanded a 20-year uranium enrichment suspension; Iran demands the immediate release of frozen overseas assets. Final sign-off is pending from both leaders.

2. Hajj 2026: Over 1.5 Million Pilgrims Arrive in Saudi Arabia

More than 1.5 million pilgrims have converged in Saudi Arabia for the Hajj 2026 — one of the Five Pillars of Islam and the world’s largest annual human gathering — set against the backdrop of a tenuous ceasefire in the Iran-related regional conflict.

3. Ebola Outbreak Threatens 10 African Nations

Africa is racing to contain a rapidly spreading Ebola outbreak that originated in eastern Congo and has now threatened 10 countries, with infections crossing into Uganda. WHO and African Union health agencies have launched coordinated emergency containment operations.

4. Russia–Ukraine: Oreshnik Hypersonic Missile Attack Kills 2, Injures 77

Russia deployed its Oreshnik hypersonic ballistic missile — capable of carrying nuclear warheads — against Ukraine, resulting in 2 deaths and 77 injuries. The strike marks a significant escalatory step in the ongoing conflict, drawing sharp condemnation from NATO allies.

5. Pakistan’s Diplomatic Makeover – Positioning as Iran-US Peace Broker

One year after Operation Sindoor, Pakistan has rehabilitated its global image by acting as an intermediary in Iran-US negotiations. While India worked to isolate Pakistan diplomatically over cross-border terrorism, Islamabad’s ‘peacemaker’ role has earned renewed international attention, complicating New Delhi’s strategic narrative.

🏦 News Related to Indian Banking & Finance

1. RBI Approves Emirates NBD to Acquire 74% Stake in RBL Bank – Largest Foreign Bank Investment (~$3 Billion)

In a landmark decision, the Reserve Bank of India (RBI) has approved UAE-based Emirates NBD to acquire up to a 74% stake in RBL Bank for approximately $3 billion. This is the largest-ever foreign investment in an Indian private sector bank, signalling deepened financial sector liberalisation and global investor confidence in Indian banking.

2. RBI Extends Enhanced Export Credit Period of 450 Days to June 30, 2026

The RBI extended the 450-day enhanced export credit facility (pre- and post-shipment finance) until June 30, 2026. First introduced in November 2025 to offset West Asia crisis disruptions, the extension ensures continued liquidity support to India’s exporter community.

3. Non-Bank Entities Permitted to Participate in Term Money Market

The RBI has allowed NBFCs, corporates, housing finance companies, and all-India financial institutions to participate in the term money market. The move aims to deepen market liquidity, broaden participation, and improve the efficiency of monetary policy transmission.

4. RBI Introduces Revised Provisioning Norms for Indian Banks

New revised provisioning norms from the RBI encourage forward-looking risk recognition, compelling Indian banks to build buffers proactively rather than reactively, aligning with evolving global banking standards (Basel framework).

5. NRI Deposits Decline to $14.4 Billion in FY2025-26

Flows into Non-Resident Indian (NRI) deposits declined to $14.41 billion in FY2025-26, from $16.16 billion in the previous year. Weaker FCNR(B) deposits and heightened global uncertainty — partly driven by the West Asia conflict — contributed to the decline, as per the RBI’s monthly bulletin.

🌐 News Related to International Banking & Finance

1. IMF Downgrades Global Growth Forecast to 3.1% for 2026

The International Monetary Fund (IMF) revised its 2026 global growth forecast downward to 3.1% (from 3.4% in 2025), citing the prolonged West Asia conflict, supply chain fragility, and persistent financial tightening. IMF MD Kristalina Georgieva noted that near-term IMF financing demand could reach $50 billion, while World Bank President Ajay Banga announced $20–25 billion in rapid financing.

2. Venezuela Rejoins Global Financial System – IMF & World Bank Restore Ties

After a six-year freeze, Venezuela is being reintegrated into the global financial system. Interim President Delcy Rodríguez requested access to approximately $5 billion in Special Drawing Rights (SDRs) from the IMF, earmarked for infrastructure, electricity, and water improvements.

3. IMF Approves Third Review of Haiti’s Staff-Monitored Programme (May 21, 2026)

IMF Management approved the Third Review and extension of Haiti’s Staff-Monitored Programme (SMP) on May 21, 2026, aimed at restoring macroeconomic stability and laying the groundwork for a full IMF lending arrangement for the crisis-hit Caribbean nation.

4. World Bank Rapid Financing of $20–25 Billion – IMF-WB Spring Meetings 2026

The IMF–World Bank Spring Meetings 2026 underscored the urgency of multilateral support. World Bank President Ajay Banga announced rapid financing of $20–25 billion to assist vulnerable economies impacted by the Middle East conflict, supply chain disruptions, and climate-related shocks.

🏆 International Sports Events

1. IPL 2026 Playoffs: RCB vs GT in Qualifier 1 at Dharamsala (May 26)

The IPL 2026 Playoffs kick off today with Royal Challengers Bengaluru (RCB) vs Gujarat Titans (GT) in Qualifier 1 at the HPCA Cricket Stadium, Dharamsala. The Eliminator is on May 27, Qualifier 2 on May 29, and the IPL 2026 Grand Final is on May 31 at Narendra Modi Stadium, Ahmedabad.

2. India Clinches ICC Men’s T20 World Cup 2026 (February–March 2026)

India won the ICC Men’s T20 World Cup 2026, co-hosted by India and Sri Lanka (February 7 – March 8, 2026), with the final played at the Narendra Modi Stadium in Ahmedabad — a triumph on home soil for Indian cricket.

3. India Women Depart for ICC Women’s T20 World Cup 2026 in England

Led by Harmanpreet Kaur, the Indian women’s cricket team has departed for the ICC Women’s T20 World Cup 2026 in England and Wales. India plays a 3-match T20I series vs England starting May 28 (followed by May 30 and June 2) as warm-up preparation.

4. 2026 FIFA World Cup – US, Canada & Mexico Finalise Preparations

With the tournament imminent, co-hosts United States, Canada, and Mexico are completing preparations for the 2026 FIFA World Cup — the biggest edition ever with 48 teams and the first hosted across three nations simultaneously.

5. 2026: A Historic Year for Cricket – Two T20 World Cups

Uniquely, 2026 features two ICC T20 World Cups: the Men’s (India & Sri Lanka, concluded) and the Women’s T20 WC in England & Wales (June 2026), making it a landmark year in the global cricket calendar.

👔 Major National/International Appointments, Resignations & Dismissals

Note: The Appointments Committee of the Cabinet also effected a major reshuffle of 21 officers at Joint Secretary/equivalent level on May 8, 2026.

🔬 Major Inventions & Discoveries

1. 118 New Exoplanets Confirmed via Machine Learning + NASA TESS (May 3, 2026)

Astronomers from the University of Warwick confirmed 118 new exoplanets with 2,000+ high-quality candidates using machine learning applied to NASA’s Transiting Exoplanet Survey Satellite (TESS) data — dramatically expanding the known catalogue of planets beyond our solar system.

2. Temperate Super-Earth ‘Ross 318 b’ Discovered in Habitable Zone (May 11, 2026)

Scientists reported the discovery of Ross 318 b, a candidate temperate super-Earth orbiting within the habitable zone of red dwarf Ross 318. With a 39.6-day orbital period and minimum mass of 6.21 Earth masses, it is among the most promising candidates for atmospheric study in the search for extraterrestrial life.

3. Hidden ‘Sugar Code’ on Human Cell Surfaces Uncovered – Could Transform Disease Detection (May 18, 2026)

Scientists discovered a hidden ‘sugar code’ — complex glycan molecules — on the surface of human cells governing cellular communication. The finding could transform disease detection, open new avenues in cancer diagnosis, and reshape immunotherapy approaches.

4. Nanotechnology Reverses Alzheimer’s Symptoms in Mice – New Enzyme Target Identified

A breakthrough nanotechnology treatment reversed Alzheimer’s symptoms in mice by restoring the brain’s natural waste-clearance system, eliminating toxic amyloid proteins, and repairing the blood-brain barrier. Separately, the enzyme IDOL was identified as a major new therapeutic target in the fight against Alzheimer’s disease.

5. New Deep-Sea Blue Octopus Species Discovered Near Galápagos Islands (~6,000 ft Below Surface)

A mysterious little blue octopus found nearly 6,000 feet beneath the Galápagos Islands was officially classified as a new species, underscoring the richness of deep-sea biodiversity and the importance of continued ocean floor exploration.

📝 Practice Questions – Bank PO / SSC Format

Attempt these 5 MCQs based on today’s current affairs. Click ‘Show Answer’ to reveal the correct answer and explanation.

Sources: Reserve Bank of India (rbi.org.in) | Press Information Bureau (pib.gov.in) | IMF (imf.org) | ESPN Cricinfo | The Diplomat | Al Jazeera | CNN | Business Standard | Outlook India | Press Trust of India
Compiled by Plutus Academy | www.plutusacademy.com | Current Affairs: May 26, 2026