Current Affairs 15 May 2026

National Affairs

Cabinet Approves ₹37,500 Crore Scheme for Promotion of Surface Coal/Lignite Gasification Projects

The Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved a new Scheme for Promotion of Surface Coal/Lignite Gasification Projects with a total budget outlay of ₹37,500 crore, aimed at boosting clean energy production and reducing India's reliance on imports of Liquefied Natural Gas (LNG), urea, and methanol.

The scheme is structured on the National Coal Gasification Mission (NCGM), launched in 2021.

Extension of Coal Linkage Tenure: GoI has extended coal linkage tenure with a maximum period of 30 years under the 'Production of Syngas leading to Coal Gasification' sub-sector in the Non-Regulated Sector (NRS) linkage auction framework.

Incentive: Up to 20% of the cost of plant and machinery; disbursed in four equal instalments linked to project milestones.

Financial Incentive Caps:

Cabinet Approves MSP for Kharif Crops for Marketing Season 2026–27

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved the increase in the Minimum Support Price (MSP) for 14 Kharif Crops for marketing season 2026–27.

Highest Absolute Increase in MSP:

Food Grains: MSP for common paddy increased to ₹2,441 per quintal (up by ₹72). Grade A paddy fixed at ₹2,461 per quintal.

MoPSW Signs Tripartite MoU for First Mega Greenfield Shipyard at Thoothukudi, TN

The Ministry of Ports, Shipping and Waterways (MoPSW) signed a tripartite Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering Co., Limited (HD KSOE), National Shipbuilding & Heavy Industries Park Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited (SMFCL) for the development of India's first Mega Greenfield Shipyard at Thoothukudi, Tamil Nadu (TN).

The MoU was exchanged in the presence of Union Minister Sarbananda Sonowal, MoPSW, during the State Visit of President of the Republic of Korea (ROK) Lee Jae Myung to India in April 2026, under the India-ROK Comprehensive Framework 'VOYAGES' (Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale).

Union Minister Piyush Goyal Releases LEADS 2025 Report; TN & UP Emerge as Top Logistics Performers

Union Minister Piyush Goyal, Ministry of Commerce & Industry (MoC&I), released the 7th edition of the Logistics Ease Across Different States (LEADS) 2025 report at the LEAPS Awards 2025 ceremony, organised by DPIIT in New Delhi, Delhi.

New Four-Tier Performance Framework (replaces previous three-tier):

LEAPS 2025 Awards: Union Minister Piyush Goyal felicitated winners across 13 categories.

MeitY Launches IP Catalyst and Digital Platform to Transform Patents into Products

The Ministry of Electronics and Information Technology (MeitY) launched the Intellectual Property (IP) Catalyst initiative and its accompanying digital platform (https://cipie.in) during the national conference on 'From Patent to Product: Accelerating IP Commercialization in Electronics & IT' at India Habitat Centre, New Delhi, Delhi.

Formally launched by S. Krishnan, Secretary, MeitY.

Implementation: By the Centre for Development of Advanced Computing (C-DAC), Pune (Maharashtra), supported by MeitY.

Objective: Bridge the gap between publicly funded R&D and industry adoption by enabling stronger collaboration among MeitY organizations, startups, MSMEs, academia, and industry — covering the full innovation cycle from research and IP creation to technology transfer, commercialization, and market deployment.

Digital Platform: The CIPIE Platform will function as a unified online gateway for IP and technology commercialisation support services.

MHI Unveils Unified Bharat e-Charge; Approves 1,243 EV Chargers for Karnataka

Union Minister H. D. Kumaraswamy, Ministry of Heavy Industries (MHI), unveiled the Unified Bharat e-Charge (UBC) platform, a national unified electric vehicle (EV) charging platform, and approved the installation of 1,243 EV charging stations in Karnataka with a financial outlay of ₹123.26 crore.

Announced under the PM E-DRIVE Scheme during the 'National Conference on Enabling Nationwide EV Charging Infrastructure' in Bengaluru, Karnataka.

Development: By Bharat Heavy Electricals Limited (BHEL) with support from the National Payments Corporation of India (NPCI).

Features: Integrates public and private charging networks through open protocols; provides real-time information on charger availability, ownership, power output, charging capacity, and location; enables access to any participating charger regardless of operator.

Integration: Integration with the Bharat Interface for Money (BHIM) app is being explored for seamless digital payments for EV charging services.

Union Minister Jyotiraditya M. Scindia Launches ₹189.79 Crore Mizoram Ginger Mission

Union Minister Jyotiraditya M. Scindia, Ministry of Development of North Eastern Region (MDoNER) and Ministry of Communications, and CM of Mizoram Lalduhoma, launched the ₹189.79 crore Mizoram Ginger Mission, a convergence-led initiative for ginger cultivation and value chain development in Mizoram.

Objective: Promote GI-certified pharma-grade Mizo Ginger in international markets, enhance farmer income through processing, branding and exports, reduce post-harvest losses, and strengthen farmer participation across the agricultural value chain.

Convergence: Anchored by MDoNER in convergence with schemes of MoAFW, MoRD, MoFPI, NABARD, ICAR, APEDA, and the Government of Mizoram.

Processing: One integrated processing hub and three spoke centres supported by over 30 strategic interventions focused on traceability, quality assurance, and farmer-led value creation.

DBN & AP Sign Pact for BharatNet Expansion with ₹2,432 Crore Financial Aid

Digital Bharat Nidhi (DBN), under the Department of Telecommunications (DoT), and the Government of Andhra Pradesh (AP) signed an Agreement for the implementation of the Amended BharatNet Programme (ABP) in the state under the State-led model, at Sanchar Bhawan, New Delhi, Delhi.

Signatories: DBN (DoT), Government of AP, Andhra Pradesh BharatNet Infrastructure Limited (APBIL), BSNL, and Andhra Pradesh State FiberNet Limited (APSFL).

Objective: Upgrade, expand, and strengthen the BharatNet network to provide reliable, future-ready broadband connectivity to all GPs and villages on a demand basis.

Implementation: GoI has allocated ₹2,432 crore; implemented through APBIL; covers 13,426 Gram Panchayats (GPs) through phases.

IndiaAI Mission Signs MoU with Karya to Strengthen Inclusive AI Ecosystem

IndiaAI Mission, under MeitY, signed an MoU with Karya, a Bengaluru (Karnataka)-based Nonprofit Organization (NPO), to increase accessibility of the AI economy through collaboration in data, technology, and capacity building.

Objective: Support capacity building and ecosystem development through training programmes, workshops, technical consultations, and knowledge-sharing initiatives.

Focus: Development, curation, and sharing of high-quality language and multimodal datasets to support inclusive and representative AI systems.

Technical Collaboration: Strengthening AIKosh data infrastructure, model evaluation frameworks, and standards related to dataset quality, validation, and interoperability.

AIKosh: India's national AI data platform supporting AI research and development through quality datasets, model testing, and secure data-sharing collaboration among government, industry, and research institutions.

IEPFA & Prasar Bharati Sign MoU to Strengthen Investor Education Initiatives

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs (MoCA), signed an MoU with Prasar Bharati (PB), a public service broadcaster under MIB, to strengthen investor awareness initiatives through informative scroll messages on Doordarshan's national and regional channels.

Signed by Lt. Col. Aditya Sinha, GM, IEPFA, and Sanjay Prasad, Deputy DG, PB (Sales), in the presence of Anita Shah Akella, CEO, IEPFA and Joint Secretary, MoCA, in New Delhi, Delhi.

Awareness Outreach: Use PB's broadcasting network to spread awareness about investor rights and reclaiming unclaimed dividends and shares transferred to IEPFA, including in remote regions.

Investor Services: Encourage use of the Search Facility and claim filing through Form IEPF-5; promote awareness about fraud prevention and safe investing practices.

Banking & Finance

RBI Removes Prior Approval Requirement for Banks' Outward Remittance Tie-ups with Fintechs

The Reserve Bank of India (RBI) removed the prior approval requirement for non-bank entities (fintechs) to form tie-up arrangements enabling outward remittance services through banks in India.

Previous Arrangement: Under the 2016 framework, non-bank entities were mandated to obtain RBI approval before entering into tie-ups with Authorised Dealer (AD) Category-I banks for outward remittance services.

Applicability: Updated framework applicable to cross-border outward remittance of funds for non-trade current account transactions facilitated via websites, online platforms, software applications, and mobile apps operated by third-party entities.

Compliance: AD banks mandated to adhere to FEMA, 1999 and perform due diligence through KYC.

Other Key Directions: Banks must inform customers about the exact foreign exchange amount to be credited and the maximum time required for the beneficiary to receive funds.

CTBC Bank Becomes 1st Taiwanese Bank to Open Branch at GIFT City, Gujarat

CTBC Bank Co. Ltd. announced the opening of its new branch at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat, becoming the 1st Taiwanese bank to establish its presence in India's premier International Financial Services Centre (IFSC).

Regulatory Approval: Obtained from the International Financial Services Centres Authority (IFSCA).

Significance: Supports cross-border financing, trade, investment flows, and financial connectivity between India, Taiwan, and the wider Asia region.

Commitment: With 30 years of presence in India, CTBC Bank has existing branches in New Delhi (Delhi) and Kattupakkam, Chennai (TN).

Appointments & Resignations

AINRC Leader N. Rangasamy Takes Oath as CM of Puducherry

N. Rangasamy, leader of the All India N.R. Congress (AINRC) from Thattanchavady and Mangalam constituencies, was sworn in as the Chief Minister (CM) of Puducherry for a fifth term, becoming the first leader in Puducherry's history to serve as CM for a fifth term, on 13 May 2026.

The oath was administered by Lieutenant Governor (LG) Kuniyil Kailashnathan at Lok Nivas, Puducherry.

Cabinet: Two cabinet members — Malladi Krishna Rao (AINRC) and A. Namassivayam (BJP) — also took oath as ministers.

Election Results (33-member Assembly):

Voter Turnout: 89.87% — the highest ever in the history of Assembly elections in Puducherry.

Yoweri Museveni Sworn in as President of Uganda for Seventh Term

Yoweri Museveni, leader of the National Resistance Movement (NRM), was sworn in as President of Uganda for a seventh term on 13 May 2026, following his victory in the presidential election held in January 2026.

Oath Ceremony: At Kololo Independence Grounds in Kampala, Uganda, marked by fly-pasts of Russian-made Sukhoi fighter jets.

Long Tenure: First came to power as a rebel leader in 1986; has since won seven elections, making him one of Africa's longest-serving leaders.

Election Result: Secured over 71% of the vote; opposition leader Bobi Wine received nearly 25%.

Jio Platforms Appoints Akash Ambani as MD for Five-Year Term

Jio Platforms Limited (JPL), the digital services arm of Reliance Industries Limited (RIL), appointed Akash Ambani as its first Managing Director (MD) for a five-year term effective from April 9, 2026.

Environment

ZSI Discovers Two New Spider Species in Nagaland; Revises Indian Whip Scorpions After a Century

The Zoological Survey of India (ZSI) discovered two new spider species, Psechrus ntu and Psechrus phenshunyu, in Nagaland and completed the first comprehensive taxonomic revision of Indian whip scorpions 'Thelyphonids' in over 100 years.

The findings were published in the International Journal Zootaxa.

Spider: Named after Ntu and Phenshunyu villages in Nagaland, highlighting Northeast India as a biodiversity hotspot. Both belong to the genus Psechrus under the family Psechridae. Psechrus himalayanus was recorded in the region for the first time.

Whip Scorpions: Also known as Vinegaroons — non-venomous arachnids distinct from true scorpions, characterised by whip-like tails (flagella), enlarged pedipalps for catching prey, and acetic acid-like defensive spray mechanisms.

Important Days at a Glance

Current Affairs 15 May 2026