Daily Current Affairs – 31 May 2026 covers the most important national, international, banking, sports, appointments and science & technology updates of the day. This curated compilation, sourced from credible newspapers, news agencies and Government of India websites (PIB, RBI, ISRO, MEA), is specifically designed for aspirants preparing for Bank PO, SSC, RBI Grade B, NABARD, IBPS, SBI PO/Clerk and other competitive examinations. At the end of the article, attempt the 5 Multiple Choice Questions (MCQs) based on today’s news to test your preparation.

National News

1. Mission Queen Pineapple Launched in Tripura

Union Minister for the Development of North Eastern Region (DoNER) Shri Jyotiraditya M. Scindia, along with the Chief Minister of Tripura, launched “Mission Queen Pineapple”, a ₹236 crore convergence-led initiative. The mission, spanning FY 2026 to FY 2028, aims to transform Tripura’s GI-tagged Queen Pineapple into a globally recognised brand. It will establish a “Hub & Spoke” post-harvest ecosystem with one central Hub near Agartala airport and eight spoke collection centres across West Tripura, Khowai and Sepahijala districts. Nearly 60% of the pineapple plant — currently discarded as waste — will be converted into value-added products through Bromelain extraction and Pineapple Leaf Fibre (PALF) processing.

2. Insolvency and Bankruptcy Code Completes 10 Years

The Insolvency and Bankruptcy Code (IBC), 2016 completed 10 years of its implementation on 30 May 2026. The IBC consolidates legal frameworks for reorganisation and insolvency resolution of corporate entities, individuals and partnership firms, and has been one of the landmark economic reforms of India.

3. India’s First Rock Check Dam Inaugurated in Ladakh

India’s first Rock Check Dam has been inaugurated near Upshi in Leh district on the Indus River, for sustainable water management and agricultural development in the high-altitude region.

4. Mann Ki Baat – 31 May 2026 Edition

Prime Minister Shri Narendra Modi addressed the nation through the latest episode of his monthly radio programme “Mann Ki Baat” on 31 May 2026 at 11:00 AM. The PM also extended greetings to the people of Goa on the occasion of Goa Statehood Day (30 May), marking the 39th anniversary of Goa becoming India’s 25th State in 1987.

5. New SEZs Notified in Puducherry

The Government of India notified new Special Economic Zones (SEZs) in the Union Territory of Puducherry, approved during the 137th meeting of the Board of Approval (BoA).

International News

1. Third India–Nordic Summit, Oslo 2026

At the Third India–Nordic Summit held in Oslo, India and the five Nordic nations (Denmark, Finland, Iceland, Norway and Sweden) upgraded their relationship into a “Green Technology and Innovation Strategic Partnership”, focused on renewable energy, green hydrogen and sustainability.

2. Quad Launches First Joint Infrastructure Project in Fiji

The Quad nations — United States, Australia, India and Japan — announced their first-ever joint infrastructure project to upgrade port capacity in Fiji, under the new “Ports of the Future Partnership”.

3. India–EFTA TEPA Implementation

India’s Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) — comprising Iceland, Liechtenstein, Norway and Switzerland — is expected to boost market access, investments, employment and sustainable economic growth.

4. US–Iran Peace Talks Near Deal

According to US officials, the United States and Iran are close to a peace deal that would extend the ceasefire for 60 days, reopen the Strait of Hormuz, and initiate talks on the future of Iran’s nuclear programme.

5. Gaza Ceasefire Under Strain

Egypt is leading diplomatic efforts to salvage the Gaza ceasefire as Israeli operations and displacement threats push the agreement toward collapse. Israel reported intercepting an air attack from Hezbollah on 30 May 2026.

News related to Indian Banking and Finance

1. RBI Approves Emirates NBD Acquisition of RBL Bank

The Reserve Bank of India approved UAE-based Emirates NBD to acquire up to a 74% stake in RBL Bank for around USD 3 billion — marking the largest foreign investment in an Indian bank. Following the approval, RBL Bank will be treated as a foreign bank subsidiary, governed under norms applicable to wholly owned subsidiaries of foreign banks (WOS).

2. Extension of Enhanced Export Credit Facility

The RBI extended the enhanced export credit period of 450 days for pre- and post-shipment finance until 30 June 2026, to support exporters dealing with disruptions caused by the West Asia crisis. The relaxation allowing exporters up to 15 months to realise and repatriate export proceeds (against the earlier 9 months) has also been retained.

3. RBI Imposes Monetary Penalties

The RBI imposed monetary penalties on Union Bank of India, Central Bank of India, Bank of India and fintech firm Pine Labs for regulatory non-compliance. Fines ranged from ₹3.1 lakh to ₹95.4 lakh.

4. CBDC Transactions Cross 150 Million

The RBI reported that Central Bank Digital Currency (CBDC – e₹) transactions have crossed 150 million in volume, with total value exceeding ₹34,000 crore.

5. RBI–SBV MoU Signed

The Reserve Bank of India and the State Bank of Vietnam (SBV) signed a Memorandum of Understanding (MoU) to strengthen financial and technological cooperation, with a special focus on promoting digital payments.

6. Ketan Merchant – Interim CEO of Fino Payments Bank Extended

The RBI approved a three-month extension for Shri Ketan Merchant as interim MD & CEO of Fino Payments Bank w.e.f. 27 May 2026, following the arrest of the previous MD & CEO in a GST fraud case.

News related to International Banking and Finance

1. Venezuela Rejoins the Global Financial System

The International Monetary Fund (IMF) and the World Bank have resumed formal relations with Venezuela after a six-year freeze. Interim President Delcy Rodríguez has asked IMF Managing Director Kristalina Georgieva for access to USD 5 billion in Special Drawing Rights (SDRs) for infrastructure, electricity and water projects.

2. IMF Revises Global Growth Forecast

The IMF’s April 2026 World Economic Outlook (WEO) update revised the global growth forecast to 3.1%, down from 3.4% in 2025, citing the impact of the West Asia conflict. IMF MD Kristalina Georgieva indicated near-term demand for IMF finance could reach USD 50 billion, while World Bank President Ajay Banga flagged USD 20–25 billion in rapid financing requirements.

3. G7 Finance Ministers’ Meeting, Paris

The G7 Finance Ministers and Central Bank Governors met on 18–19 May 2026 in Paris, France, joined by the Heads of the IMF and the World Bank Group, to discuss global economic stability and emerging market financing.

International Sports Events

1. IPL 2026 Final – RCB vs GT, Ahmedabad

The final of the Indian Premier League (IPL) 2026 is being played on 31 May 2026 at the Narendra Modi Stadium, Ahmedabad, between Royal Challengers Bengaluru (RCB), captained by Rajat Patidar, and Gujarat Titans (GT). RCB qualified directly through Qualifier 1, while GT advanced after defeating Rajasthan Royals in Qualifier 2 on 29 May 2026.

2. India in Unity Cup Football

The Indian senior men’s football team faced Jamaica in the Unity Cup semi-final on 28 May 2026.

3. AFC U-17 Women’s Asian Cup

India played Japan in the AFC U-17 Women’s Asian Cup, gaining valuable experience in continental-level women’s football.

Major National and International Appointments

1. Gunveer Singh – Executive Director, RBI

The Reserve Bank of India promoted Shri Gunveer Singh as Executive Director (ED). Earlier serving as Chief General Manager-in-Charge of the Department of Payment and Settlement Systems (DPSS), he will continue to oversee the same department in his new capacity.

2. Ketan Merchant – Interim CEO, Fino Payments Bank

The RBI extended the term of Shri Ketan Merchant as interim MD & CEO of Fino Payments Bank for a further three months from 27 May 2026.

3. R.N. Ravi – Governor of West Bengal

Earlier in 2026, Shri R.N. Ravi was appointed as the 22nd Governor of West Bengal, sworn in on 12 March 2026, replacing Shri C.V. Ananda Bose.

Resignation or Dismissal

1. Atanu Chakraborty Resigns as HDFC Bank Chairman

Shri Atanu Chakraborty, the part-time chairman of HDFC Bank — India’s largest private sector bank — resigned after flagging concerns over governance and ethical practices. The news led to a sharp fall in HDFC Bank’s share price.

2. C.V. Ananda Bose Resigned as Governor of West Bengal

Shri C.V. Ananda Bose resigned as Governor of West Bengal earlier this year, with Shri R.N. Ravi taking over the office.

Major Inventions and Discoveries

1. ISRO Unveils Advanced Space Technology for Gaganyaan

On 27 May 2026, ISRO unveiled new space technology that will significantly improve the safety and mission duration of the Gaganyaan programme by enhancing life-support systems and orbital manoeuvring capabilities for Indian astronauts (Gaganyatris).

2. National Technology Day 2026

National Technology Day was celebrated on 11 May 2026 at the National Institute of Immunology, New Delhi. ISRO participated with 35 delegates and showcased indigenously developed critical technologies. The day commemorates India’s successful Pokhran-II nuclear tests of 11 May 1998.

3. FY27 Budget Allocation for Department of Space

In May 2026, the Government of India allocated ₹13,706 crore for the Department of Space (DoS)/ISRO in FY 2026–27 — signalling India’s transition toward a dual-purpose space agency that balances scientific research with commercial viability and deep-space exploration.

Five Practice MCQs – SSC / Bank PO Format

Conclusion

Today’s current affairs touched key themes important for SSC, Bank PO, RBI Grade B, NABARD and IBPS examinations — including RBI banking reforms, foreign investment approvals, India’s strategic diplomacy (Nordic Summit, Quad, EFTA), space technology, and major appointments. For previous daily current affairs, visit https://plutusacademy.com/current-affairs/.

Sources: Press Information Bureau (PIB), Reserve Bank of India (RBI), ISRO, Ministry of External Affairs, IMF, The Hindu, Business Standard, ANI.

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