Current Affairs 7 May 2026

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NATIONAL AFFAIRS

Cabinet Approves Two Semiconductor Manufacturing Units Worth Rs. 3,900 crore under ISM
In May 2026, Union Cabinet chaired by the PM (Prime Minister) Narendra Modi approved two semiconductor projects under ISM 1.0 (India Semiconductor Mission), Ministry of Electronics & IT(Meity) with an investment of around Rs 3,936 crore, expected to generate 2,230 skilled jobs.

• India’s first commercial GaN(Gallium Nitride) Technology-based Mini/Micro-LED(Light Emitting Diode) display facility by Crystal Matrix Limited (CML) and semiconductor packaging unit by Suchi Semicon Private Limited (SSPL).

Crystal Matrix Limited Project: 
Establishment: An integrated facility for compound semiconductor fabrication and ATMP (Assembly, Testing, Marking, and Packaging) facility in Dholera, Gujarat.
Capacity: Manufacture Mini/Micro-LED display modules and GaN(Gallium Nitride) foundry services with 6-inch wafer epitaxy, producing 72,000 square meters(sq m) of Mini/Micro-LED panels and 24,000 RGB(Red Green Blue) GaN wafer sets annually.
Applications: Television, signage/commercial displays, smartphones, in-car displays, Extended Reality(XR) glasses, and smartwatches.
Suchi Semicon Private Limited (SSPL): 
Establishment: Outsourced Semiconductor Assembly and Test (OSAT) facility in Surat, Gujarat for manufacturing discrete semiconductors and proposed production capacity of 1033.20 million chips per annum.
Applications: Power electronics, analog ICs(Integrated Circuit) and industrial systems, serving end markets such as automotive, industrial automation, and consumer electronics.

Cabinet Approves ECLGS 5.0 with Outlay of Rs 18,100 Crore
In May 2026, the Union Cabinet chaired by the Prime Minister (PM) Narendra Modi approved Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 with an outlay of Rs 18,100 crore (Cr) to help MSMEs mitigate short-term liquidity stress arising from the crisis in West Asia.
Key Features:
Objective: The scheme aims to provide credit guarantee coverage of:

• 100% for Micro, Small and Medium Enterprises (MSMEs) and

• 90% for non-MSMEs as well as airline sector, to Member Lending Institutions (MLIs) by National Credit Guarantee Trustee Company Limited (NCGTC) against defaults on additional loans extended to the eligible borrowers.

Administration: The scheme will be administered through the National Credit Guarantee Trustee Company Limited (NCGTC).
Eligible borrowers: MSMEs and non-MSMEs with existing working capital limits and scheduled passenger airlines having outstanding credit facilities, as of March 31, 2026, provided their accounts are standard.

CCEA Approves Major Infrastructure, Railway & Judicial Expansion Proposals on May 5, 2026
In May 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister (PM) Narendra Modi, approved several major proposals, including a Rs 1,570 crore ship repair facility at Vadinar in Gujarat, Rs 23,437 crore railway multi-tracking projects, and an increase in the sanctioned strength of judges in the Supreme Court of India(SCI) to 37.
Key Approvals:
Ship Repair facility: The project will be jointly implemented by Deendayal Port Authority(DPA) and Cochin Shipyard Limited(CSL).

• The project will be developed as a brownfield facility with a 650 metre (m) jetty, two large floating dry docks, workshops and associated marine infrastructure.

3 Railway Projects: The CCEA approved 3 railway projects covering 19 districts across 6 states: Madhya Pradesh (MP), Rajasthan, Uttar Pradesh (UP), Karnataka, Andhra Pradesh (AP) and Telangana, in the country.

• These newly proposed multi-tracking projects include: Nagda–Mathura 3rd and 4th Line (MP, Rajasthan & UP), Guntakal–Wadi 3rd and 4th Line (AP & Karnataka), and Burhwal–Sitapur 3rd and 4th Line (UP).

Expansion of SC Judge Strength : The Union Cabinet chaired by PM Narendra Modi approved the introduction of the Supreme Court (Number of Judges) Amendment Bill, 2026, to increase the sanctioned strength of judges in the Supreme Court of India from 33 to 37, excluding the Chief Justice of India (CJI).

Scheduled Commercial Banks Record Robust Credit Growth of 15.9% in FY26: MoF
In May 2026, according to data release by the Ministry of Finance (MoF), Scheduled Commercial Banks (SCBs) recorded a 15.9% year-on-year (Y-o-Y) growth in non-food credit during Financial Year 2025–26 (FY26), an increase of 497 basis points (bps) compared to 10.9% in the corresponding period of 2025.
Sector Wise Data:
Agriculture and Allied Activities: Credit to agriculture and allied activities grew by 15.7%, up from 10.4% in FY25, indicating continued strength in rural demand and improved credit flow to the farm sector.
Industrial Sector: The credit deployment to the industrial sector expanded at almost double the rate to 15.0%, against 8.2% growth registered last year.
Services Sector: The services sector, which accounts for around 28% of total credit, recorded the highest growth at 19%, up from 12% in the previous year.

DPIIT Sets 60-day FDI clearance for China-linked sectors, 40 sub-sectors 
In May 2026, the Department for Promotion of Industry  and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I), issued a revised framework through an updated Standard Operating Procedure (SOP), identifying 40 sub-sectors which include rare earth magnets and Printed Circuit Boards (PCBs), for expedited clearance of Foreign Direct Investment (FDI) proposals from countries sharing land border with India.

• As per the updated SOP, FDI  proposals from countries like: China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan in these sub-sectors will be processed within 60 days.

Key Details:
Classification: The 40 sub-sectors fall under 6 main segments, including capital goods manufacturing, electronic capital goods and components, advanced battery components, polysilicon and wafers, rare earth processing, and rare earth permanent magnets.
Reporting: The Government has clarified the reporting under the new guidelines will be administered under the Foreign Exchange Management (Mode of Payment and Reporting of Non-debt Instruments) Regulations, 2019 and the information will be accessible by the Reserve Bank of India (RBI).

MoHFW Releases RBSK 2.0 Guidelines to Expand India’s Child Health Framework 
In May 2026, the Ministry of Health and Family Welfare (MoHFW) launched the Rashtriya Bal Swasthya Karyakram (RBSK) 2.0 Guidelines under the National Health Mission (NHM), at the 10th edition of National Summit on Good Practices and Innovations in Public Healthcare Service Delivery, held in Chandigarh.

• This marks a major expansion of India’s child health screening and early intervention programme for children from birth to 18 years.

About RBSK 2.0 Guidelines:
Framework: The revised framework strengthens the 4Ds model, Defects at Birth, Diseases, Deficiencies, and Developmental Delays, by incorporating screening for mental health conditions, behavioural disorders, and non-communicable diseases (NCDs) such as diabetes and hypertension.
Continuum: RBSK 2.0 introduces a preventive, promotive and curative continuum of care with a lifecycle-based approach ensuring continuous healthcare support from birth to adolescence.
Digitalisation:  It introduces digital health cards, real-time data systems, and integrated platforms to enhance tracking, monitoring, and service delivery, improving efficiency, accountability, and evidence-based decision-making.

MoD Inks Rs.1,476 crore Deal with BEL For Mobile Electronic Systems
In May 2026, the Ministry of Defence (MoD) signed a Rs 1,476 crore contract with Bharat Electronics Limited (BEL) for the procurement of five Ground-Based Mobile Electronic Systems (GBMES) for the Indian Army(IA).

• The agreement was signed in the presence of Rajesh Kumar Singh, Secretary, MoD, at Kartavya Bhawan-2 in New Delhi, Delhi.

Key Details of the Contract:
Procurement Category: The contract falls under the Buy Indian–IDDM(Indigenously Designed, Developed and Manufactured) category with at least 72% indigenous content.
Development: Designed and developed by the Defence Electronics Research Laboratory (DLRL), a wing of Defence Research and Development Organization(DRDO), and manufactured by BEL.
Capabilities: The system provides ELINT (Electronic Intelligence) and COMINT (Communications Intelligence) functions for detecting radars and intercepting communications, supports counter-drone ‘soft kill’ operations, and is mounted on mobile platforms for deployment in active tactical zones.
Impact: This system will modernise the IA units and strengthen the indigenous defence manufacturing ecosystem of the country.

UIDAI and National Forensic Sciences University Sign 5-Year Pact on Cybersecurity and Digital Forensics 
In May 2026, the Unique Identification Authority of India (UIDAI) under the Ministry of Electronics and Information Technology (MeitY) and the National Forensic Sciences University (NFSU) signed a 5-year Memorandum of Understanding (MoU) to bolster the cybersecurity and digital forensic capabilities of India’s Aadhaar infrastructure.

• The agreement was exchanged between Vivek Chandra Verma, Chief Executive Officer(CEO) of UIDAI and Dr. S.O. Junare, Director of NFSU, Gujarat Campus, in New Delhi, Delhi.

Key Details of MoU:
Objectives: The partnership aims to strengthen cybersecurity and forensic capabilities through research in Artificial Intelligence (AI) based anomaly detection, deepfake detection, blockchain, and cryptographic technologies.
Focus Areas: The partnership will focus on six major areas: academic and professional development, information security and system integrity, strengthening forensic infrastructure, technical support for cybersecurity operations, research in emerging technologies, and outreach and awareness initiatives.
Innovation: The collaboration will include joint research in emerging fields such as AI, blockchain, deepfake detection, and cryptographic technologies, while also promoting capacity building programmes and placement opportunities for students.

NLC India Signs Nuclear Agreement with EDF France to Explore EPR and SMR Technologies
In April 2026, NLC India Limited (NLCIL), a Central Public Sector Undertaking(CPSU), signed a Non-Disclosure Agreement (NDA) with Électricité de France (EDF), in Chennai, Tamil Nadu (TN), to explore potential development of nuclear power projects in India based on European Pressurised Reactor (EPR) and Small Modular Reactor (SMR) technologies.

• This initiative aligns with India’s target of achieving 100 Gigawatt (GW) nuclear power capacity by 2047 under the Viksit Bharat and Net Zero goals.

Key Details of Agreement:
Technologies: EPR is a third-generation Pressurized Water Reactor (PWR) developed by Framatome and EDF with advanced safety features and higher operational efficiency.

• SMRs are compact, factory-built nuclear reactors designed for modular deployment and flexible power generation.

Target: NLC India Limited has set a target of reaching 20 GW total power capacity by 2030.
Legislation: The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill 2025 passed in December 2025 seeks to modernise laws governing India’s nuclear energy sector.

NITI Aayog Launches CPO Portal for Real-Time Governance and Last-Mile Delivery 
In May 2026, Nidhi Chhibber, interim Chief Executive Officer (CEO), National Institution for Transforming India (NITI) Aayog, launched the Central Prabhari Officer (CPO) Portal in New Delhi(Delhi) to strengthen real-time governance and improve last-mile service delivery under the Aspirational Districts Programme (ADP) and Aspirational Blocks Programme (ABP).

• The platform aims to bridge the gap between field-level observations and administrative action through a structured real-time reporting system.

About CPO Portal:
Officers: CPOs are senior Central Government officials responsible for providing ground-level insights, monitoring programme implementation, and strengthening coordination between Centre, State, and District administrations.
Functionality: CPOs can upload real-time field observations and implementation issues through mobile devices, enabling authorities to monitor, access, and respond simultaneously.
Coordination: The platform enables State Planning Secretaries to monitor inter-departmental coordination and implementation progress, while districts can take corrective actions and provide feedback in real time.
Governance: The portal strengthens structured monitoring, accountability, faster administrative response, and technology-driven inclusive governance across Aspirational Districts and Blocks.

INTERNATIONAL AFFAIRS

Overview of EAM S. Jaishankar’s First-Ever Bilateral Visit to Jamaica from 02-04 May 2026
Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA) undertook a 2-day visit to Jamaica from May 2–4, 2026, marking the first-ever bilateral visit by an Indian External Affairs Minister (EAM) to the Caribbean nation.

• The visit strengthened India–Jamaica ties, expanded Caribbean cooperation, and reinforced India’s commitment to South-South partnership and diaspora engagement.

About the visit to Jamaica:
Meetings: Union Minister Dr. Jaishankar, MEA, held delegation-level talks with Prime Minister (PM) of Jamaica Andrew Michael Holness and Kamina Elizabeth Johnson Smith, Minister of Foreign Affairs and Foreign Trade of Jamaica, reviewing bilateral relations and discussing cooperation in healthcare, agriculture, digitalisation, tourism, sports, infrastructure, education, capacity building and multilateral affairs.
MoUs Signed: India and Jamaica signed three Memoranda of Understanding (MoUs) covering health cooperation, solarisation of the Hugh Lawson Shearer Building and broadcasting, while also reviewing existing agreements in digital transformation, culture, sports and digital payments.

IOM’s World Migration Report 2026: India Remains Top Remittance Recipient with Over USD 137 billion in 2024
In May 2026, the International Organisation for Migration (IOM), the leading United Nation(UN)-related agency for migration, released its latest report titled “World Migration Report 2026”, 13th edition of the World Migration Report series, during the International Migration Review Forum (IMRF) week in New York, the United States of America (USA).

• As per the report, India received over USD 137 billion in remittance in 2024, thereby retaining its position as the world’s top remittance recipient country since 2010, and the only country to surpass the USD 100 billion mark.

Key Findings:
Top 5 Remittance Recipients: After India, Mexico is the 2nd highest recipient of remittance in the world and received USD 67.6 billion as remittance in 2024.

• The Philippines (USD 40.3 billion ), France (USD 38.8 billion), and Pakistan (USD 34.9 billion) were among the world’s top 5 remittance recipient countries.

Remittance Sources: The report revealed that high-income countries (HICs) like: the United States of America (USA) continued to be the top remittance-sending country in the world, with a total outflow breaching the USD 100 billion mark in 2024.

• The USA was followed by Saudi Arabia (over USD 46 billion), Switzerland (around USD 40 billion), and Germany (around USD 24 billion).

BANKING & FINANCE

Jio Payments Bank Partners with Ezeepay to Expand Banking Access
In May 2026, Jio Payments Bank Limited(JBPL), a subsidiary of Jio Financial Services Limited(JSFL), announced a partnership with fintech platform Ezeepay as Business Correspondent (BC) to strengthen last-mile digital banking services across rural and semi-urban India.
Key Details of Partnership:
Objective: The partnership aims to expand access to basic banking services through local merchant outlets.
Banking Services: Under the partnership, Ezeepay’s BC merchants will provide cash withdrawal and deposit services through the Aadhaar Enabled Payment System (AEPS), along with Unified Payments Interface (UPI)-based cash withdrawal services in accordance with Reserve Bank of India(RBI) guidelines.
Digital Reach: The collaboration is expected to expand access to digital financial services through Ezeepay’s existing merchant network.

IMPORTANT DAYS

International Day of the Midwife 2026 – May 5 
The International Day of the Midwife (IDM) is observed annually across the world on 5 May to recognise the role of midwives in maternal and newborn healthcare and raise awareness about the global shortage of midwives.

• The IDM celebration was led by the International Confederation of Midwives (ICM).
• 2026 Theme: “One Million More Midwives”.

Background:
Establishment: The IDM was proposed at the 1987 ICM conference in the Netherlands.
First Observance: The inaugural IDM was observed on 5 May 1991.

World Hand Hygiene Day 2026 – May 5
World Hand Hygiene Day (WHHD) is observed annually by the World Health Organization(WHO) to promote awareness on proper hand hygiene practices and their role in preventing infectious diseases.

• 2026 Theme:  “Action saves lives– Safer care starts with clean hands”

Background: 
Campaign Alignment: WHHD aligns with the “SAVE LIVES: Clean Your Hands” campaign, which promotes evidence-based hand hygiene practices worldwide to reduce Healthcare-Associated Infections (HAIs).
Origin: The campaign began under the WHO’s First Global Patient Safety Challenge: Clean Care is Safer Care in 2009. 

• The 2026 observance marks its 18th anniversary, highlighting nearly two decades of progress in improving hand hygiene in healthcare.

Evolution : Over time, the initiative has evolved into the WHO Infection Prevention and Control (IPC) Hub & Task Force, leading and coordinating global efforts to strengthen infection prevention practices.

World Cartoonist Day 2026 – May 5
World Cartoonist Day, also known as National Cartoonists Day, is observed annually across the globe on May 5 to honour cartoonists and their creative contributions in shaping society through art, humour, entertainment, and social commentary.
Background:
Origin: National Cartoonists Day commemorates the debut of Richard Felton Outcault’s Hogan’s Alley in the New York World newspaper on 5 May 1895, which introduced The Yellow Kid, regarded as the first commercially successful full-colour cartoon character and a milestone in modern comic art.
Formation: National Cartoonists Society (NCS) was established in 1946 in Winter Park, Florida, United States of America (USA) by cartoonists such as Gus Edson and Clarence D. Russell, with origins linked to entertaining soldiers and patients during World War II (1939–1945).
Initiation: National Cartoonists Day was officially initiated in 1999 by co-chairpersons Polly Keener and Ken Alvine inspired by Richard Outcault’s pioneering cartoon work.

STATE NEWS

Nagaland Launches ‘100 Days Ayushman Student Coverage Mission’ to Expand Youth Health Coverage 
In May 2026, the Government of Nagaland launched the ‘100 Days Ayushman Student Coverage Mission’ to expand health insurance coverage among students and strengthen youth healthcare access .

• This mission is an extension of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) and the state’s own Chief Minister’s Health Insurance Scheme (CMHIS).

Key Details:
Student Health Drive: The mission, led by the Nagaland Health Protection Society (NHPS) in collaboration with Nagaland’s district administrations, is the first student-centric health saturation drive in the North East region, scheduled from May to August 2026.
Objective: The mission aims to strengthen student health security through universal registration and improved access to healthcare benefits, reaffirming the government’s commitment to universal health protection.
Implementation: The initiative sets up on-campus registration and card generation camps in schools and colleges through coordination between NHPS and education department, simplifies verification and reducing barriers for enrollment.

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