Monthly current affairs for May 2026

N Rangasamy, the founder of the All India NR Congress (AINRC), has been sworn in as the Chief Minister of Puducherry for a record fifth term.

The oath of office was administered by the Lieutenant Governor (LG) K Kailashnathan. This marks the second consecutive National Democratic Alliance (NDA) government in the Union Territory (UT).

The SEBI has proposed a new regulatory framework named ‘Green Channel: Alternative Investment Funds (AIF) Rollout Upon Document Acknowledgement (GARUDA)’ to accelerate the launch and approval process of AIF schemes in India.

The GARUDA mechanism aims to streamline the processing of Placement Memorandums (PPMs) to facilitate faster fundraising. Under this, the waiting period for Non-Accredited Investor schemes is reduced from 30 days to 10 working days after filing the PPM. Additionally, Angel Funds and Accredited Investor-only schemes can commence fundraising almost immediately after filing their documents with the regulator.

Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War:

Day – May 08, 09

Observed since – 2005

Commemorating – The surrender of Nazi Germany in WWII

Also known in Europe as – Victory day

Tripura has become the first state in India to complete all Priority Areas under Deregulation Phase-II of the national Compliance Reduction and Deregulation initiative, spearheaded by the Cabinet Secretariat.

The state is the first in the country to successfully implement all 51 Priority Areas under both Phase-I and Phase-II of the reform programme. The reforms, launched in January 2026, aim to enhance the Ease of Doing Business (EoDB) and strengthen technology-driven governance through comprehensive regulatory improvements.

The United Nations (UN) has launched a report titled “The Global Forest Goals (GFG) Report 2026” during the 21st session of the UN Forum on Forests (UNFF) in New York.

The report states that global forest cover decreased from 4.18 billion hectares (ha) in 2015 to 4.14 billion ha in 2025, representing an annual net loss of 4.12 million ha. It is to be noted that 16 million ha of primary forests were lost between 2015 and 2025. South America accounted for the most share of primary forest losses recorded during the decade.

Union Minister Prataprao Jadhav has launched the ‘Ayush Anudan Portal’ to enhance transparency, efficiency, and accountability in grant management for the Ayush sector. The portal is developed under the ‘Ayush Grid’ initiative.

It enables the online submission, processing, and monitoring of funding proposals under Central Sector Schemes. The portal is integrated with the ‘NGO Darpan Portal’ for faster verification, aiming to reduce manual processes and support the ‘Digital India’ and ‘Ease of Living’ initiatives.

Union Minister Shivraj Singh Chouhan has launched the PM Gram Sadak Yojana-IV (PMGSY-IV) during the silver jubilee celebrations of the scheme in Bhairunda, Madhya Pradesh. Under PMGSY-IV, the government has approved 973 roads spanning 2,117.52 km in Madhya Pradesh at a cost of ₹1,763.08 crore. Separately, the centre approved 259 roads, spanning 600.39 km, for the Vidisha parliamentary constituency.

He also handed over a mother sanction worth ₹2,055 crore to Madhya Pradesh Chief Minister (CM) Dr. Mohan Yadav under the PM Awas Yojana-Gramin (PMAY-G). Additionally, road projects worth ₹261.81 crore, covering 384.34 km, were approved under the PM Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN).

Union Minister Piyush Goyal released the 7th edition of the ‘Logistics Ease Across Different States (LEADS) 2025’ report during the ‘Logistics Excellence, Advancement and Performance Shield (LEAPS) Awards 2025’ ceremony held in New Delhi. The LEADS 2025 framework has transitioned from a three-tier to a four-tier performance framework: ‘Exemplars’, ‘High Performers’, ‘Accelerators’, and ‘Growth-Seekers’. Tamil Nadu, Uttar Pradesh, Mizoram, and Delhi are categorized as ‘Exemplars’.

The ‘High Performers’ category includes 11 states and UTs, such as Gujarat, Kerala, Maharashtra, Puducherry, and J&K. The ‘Accelerators’ category includes 18 states and UTs, such as Punjab, Odisha, Andhra Pradesh, Ladakh, and Lakshadweep. West Bengal, Rajasthan, Sikkim, and the Andaman & Nicobar Islands are categorized as ‘Growth-Seekers’.

VD Satheesan has been sworn in as the 13th Chief Minister (CM) of Kerala. The oath of office was administered by the Governor of Kerala, Rajendra Vishwanath Arlekar.

World Athletics Day:

Day – May 07

Theme 2026 – "Sport: Building Bridges, Breaking Barriers"

Observed since – 1996

Initiated by – Primo Nebiolo, former President of World Athletics

AU Small Finance Bank (AU SFB) has launched a new portfolio of four credit cards named AU Ananta, AU Laksya, AU Tejas, and AU Prathama to cater to diverse income and lifestyle segments in Tier-1 and Tier-2 cities.

The credit card suite introduces an industry-first feature of providing complimentary airport lounge access for flight bookings made via the AU Rewardz platform.

Mal Anderson, an Australian tennis legend and former World No. 2, passed away at the age of 91. He was inducted into the International Tennis Hall of Fame in 2000 and was a recipient of the Member of the Order of the British Empire (MBE) in 1972.

Union Minister Dharmendra Pradhan has inaugurated the Bhimmandali Eco Heritage Site in the Naktideul Block of Sambalpur district, Odisha. The centre has sanctioned over ₹8.3 crore for the project.

He also inaugurated and laid the foundation stones for 304 projects, including a new Nursing College at the Bhima Bhoi Medical College and Hospital with an investment of ₹580 crore. The Panchayati Raj Samikshya portal was also launched to enhance transparency and accountability in rural governance systems.

DY Patil International University (DYPIU) in Akurdi, Pune (Maharashtra) has signed an MoU with the French software corporation Dassault Systèmes to establish an advanced Digital Engineering and Digital Manufacturing Experience Centre on the campus of the university.

India and the International Fund for Agricultural Development (IFAD), a specialized United Nations (UN) agency, have launched an 8-year Country Strategic Opportunities Programme (COSOP) for the 2026–2033 period.

The initiative, announced during the ‘IFAD–India Partnership for Rural Prosperity’ event at Bharat Mandapam in New Delhi, aims to strengthen the rural economy of India and promote inclusive, climate-resilient development.

Additionally, IFAD and the National Bank for Agriculture and Rural Development (NABARD) have signed a strategic partnership agreement to strengthen rural finance systems and support innovation in the agriculture and allied sectors.

The Indian Army has inducted two indigenous combat systems named the UAV-Launched Precision Guided Munition (ULPGM) and the AGNIKAA VTOL-1 (Vertical Take-Off and Landing) First-Person View (FPV) Kamikaze Drone. These were procured from Adani Defence & Aerospace Limited under the Emergency Procurement-6 (EP-6).

The induction followed successful high-altitude and Electronic Warfare (EW) trials conducted in the presence of officials from the Western Command of the IA. The ULPGM, co-developed by the DRDO and Adani Defence & Aerospace Ltd, is the first indigenous loitering munition of India, while the AGNIKAA VTOL-1 is the first FPV kamikaze drone of India in its category.

The Ministry of Electronics and Information Technology (MeitY) has launched the ‘Intellectual Property (IP) Catalyst’ initiative and its dedicated digital platform (https://cipie.in). The launch took place during the national conference ‘From Patent to Product: Accelerating IP Commercialization in Electronics & Information Technology (IT)’ held at the India Habitat Centre in New Delhi.

The initiative is implemented by the Centre for Development of Advanced Computing (C-DAC) with the support of MeitY. It is to be noted that the CIPIE platform serves as a unified online gateway for Intellectual Property and technology commercialization support services.

PM Narendra Modi has inaugurated and dedicated infrastructure, rail, and healthcare projects worth ₹9,400 crore in Hyderabad. He inaugurated the first functional Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park of India in Warangal. The Malkapur Terminal Project of the Indian Oil Corporation Ltd (IOCL) and the Sindhu Hospital in Hyderabad were also dedicated to the nation during the visit.

The RBI has removed the requirement of prior approval for non bank entities to establish tie-up arrangements for outward remittance services through banks in India. This is part of an operating framework issued by the RBI to facilitate such services through Authorised Dealer (AD) Category I banks.

Saurabh Vijay has been appointed as the CEO of the Unique Identification Authority of India (UIDAI). He succeeds Bhuvnesh Kumar.