Current Affairs Today — May 6, 2026

Top Stories — May 6, 2026

Economy & Development

RBI Gold Repatriation — 880.52 MT Total; 77% Now in India The Reserve Bank of India transferred 168.06 metric tonnes of gold from foreign vaults (Bank of England, BIS) to domestic storage in FY 2025–26 — the largest annual repatriation on record. India’s total gold reserves now stand at 880.52 MT (as of March 2026), with 77% held domestically (up from 38% in March 2023). Gold accounts for 16.7% of India’s total forex reserves. The repatriation is driven by geopolitical concerns over asset freezes following Russia sanctions precedent.

Mission for Cotton Productivity — ₹5,659 Crore (2026–31) The Union Cabinet approved the Mission for Cotton Productivity worth ₹5,659.22 crore for FY 2026–31, covering 140 districts across 14 states. Target: raise lint productivity from 440 kg/hectare to 755 kg/hectare and production to 498 lakh bales by 2031 (each bale = 170 kg). Beneficiary: ~32 lakh cotton farmers via digital platform. Premium brand: “Kasturi Cotton Bharat”. Implementing: Agriculture + Textiles ministries with ICAR and CSIR.

FDI Norms Eased — Press Note 2 (2026 Series) India modified Press Note 3 (2020) via Press Note 2 (2026 Series): companies with up to 10% Chinese or Hong Kong shareholding without control can now invest through the automatic FDI route. Control is defined per PMLA 2002 (>10% = beneficial owner). China’s FDI share in India: 0.32% (USD 2.51 billion, ranked 23rd). Land-border nations still requiring prior government approval. New processing timeline for government-route applications: 12 weeks. Multilateral banks including AIIB now exempt from land-border restrictions.

ECLGS 5.0 — ₹2,55,000 Crore Credit Guarantee Cabinet approved Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 with ₹2,55,000 crore additional credit facility. MSME guarantee: 100%; Non-MSME/Airlines: 90%. Guarantee fee: Nil. Additional credit for MSMEs/non-MSMEs: up to 20% of peak working capital (cap: ₹100 crore); Airlines: up to 100% of outstanding credit (cap: ₹1,500 crore/borrower). Implementing agency: NCGTC (National Credit Guarantee Trustee Company Limited). Valid until March 31, 2027.

Vadinar Ship Repair Facility — ₹1,570 Crore CCEA approved a ₹1,570 crore brownfield ship repair facility at Vadinar, Gujarat in partnership between Deendayal Port Authority and Cochin Shipyard Ltd. Jetty: 650 metres; two floating dry docks (vessels up to 230 m); maximum vessel capacity: 300 metres length. Direct jobs: ~290; indirect: ~1,100. Strategic alignment: Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047.

NCLAT — Adani Wins Jaypee Associates Resolution NCLAT upheld Adani Group’s ₹14,535 crore resolution plan for Jaiprakash Associates Limited (JAL), rejecting Vedanta’s challenge. Adani acquires ~3,985 acres of prime NCR land plus Delhi–airport corridor assets at approximately 25 paise on the rupee. Under the Insolvency and Bankruptcy Code (IBC) 2016 framework.

Science, Technology & Defence

INS Mahendragiri Inducted — Project 17A Sixth Ship INS Mahendragiri, the sixth of seven Nilgiri-class stealth frigates under Project 17A, was delivered to the Indian Navy (April 30, 2026) at Mazagon Dock Shipbuilders Ltd (MDSL), Mumbai. Indigenous content: 75%. Armament: BrahMos supersonic missiles, MFSTAR radar, MRSAM air-defence system. Propulsion: CODOG (Combined Diesel or Gas). Builder split: Mazagon Dock (4 ships), Garden Reach Shipbuilders & Engineers (GRSE, Kolkata; 3 ships). Designer: Warship Design Bureau.

Critical Mineral Recycling Scheme — 58 Companies Approved Ministry of Mines approved 58 companies under the Critical Mineral Recycling Incentive Scheme (notified October 2, 2025; ₹1,500 crore budget; FY2025–2031). Capex subsidy: 20% (Group A ceiling: ₹50 crore; Group B: ₹25 crore). India’s import dependence on critical minerals exceeds 80% (annual outflow: ₹80,000 crore). Waste streams targeted: e-waste, spent Li-ion batteries, permanent magnets, catalytic converters.

UDGAM Portal — 30 Banks Cover 90% of Unclaimed Deposits RBI reported 30 banks (covering ~90% of unclaimed deposits by value) now integrated into the UDGAM portal (Unclaimed Deposits — Gateway to Access inforMation). Unclaimed deposits: savings/current accounts inactive for 10+ years or fixed deposits unpaid within 10 years of maturity. Funds transferred to DEA (Depositor Education and Awareness) Fund. Developed by RBI with ReBIT and IFTAS.

International Relations & Security

CINBAX-II — India-Cambodia Joint Military Exercise India and Cambodia conducted CINBAX-II at Kampong Speu Province, Cambodia. Indian contingent: 120 personnel from Maratha Light Infantry Regiment; Cambodian: 160 personnel from Royal Cambodian Army. Focus: counter-terrorism in semi-urban and jungle terrain, drone operations, sniper tactics. First edition (CINBAX-I): Pune, India, December 2024. Policy linkage: Act East Policy.

Dorjilung Hydropower Project — 1,125 MW, Bhutan–World Bank Bhutan and World Bank signed USD 515 million financing agreements for the 1,125 MW Dorjilung Hydroelectric Power Project on the Kurichhu River, eastern Bhutan. Annual generation: 4,500+ GWh; ~80% to be supplied to India. Total cost: ₹13,100 crore (~USD 1.7 billion). Dam: 139.5 m concrete-gravity; 6 Francis turbines. Developer: Dorjilung Hydro Power Limited — Druk Green Power Corporation (60%) + Tata Power (40%). Commissioning: September 2031. Bhutan’s largest PPP hydropower project.

Boko Haram — 23 Chadian Soldiers Killed, Lake Chad Boko Haram militants killed 23 Chadian soldiers and injured 26 in an attack on a military post in the Lake Chad region (May 5, 2026). Lake Chad: borders Chad, Cameroon, Nigeria, Niger; primary inflow: Chari River; has shrunk to less than one-tenth of its 1960s size; endorheic freshwater lake (no ocean outlet).

Polity & Governance

Supreme Court Judges — Sanctioned Strength Increased to 38 Union Cabinet approved Supreme Court (Number of Judges) Amendment Bill 2026 increasing sanctioned strength from 34 to 38 (37 judges + CJI). Constitutional authority: Article 124(1) — Parliament empowered by simple majority. Original strength (1956): 11 (10 + CJI). All SC expenditures charged to Consolidated Fund of India. SC Collegium recommends appointments.

TVK Forms Government in Tamil Nadu — Congress Extends Support Congress extended support to Tamilaga Vettri Kazhagam (TVK) after the hung Tamil Nadu assembly result. TVK won 108/234 seats (majority: 118); Congress’s 5 MLAs bring total to 113 (additional alliance members needed). TVK leader: C. Joseph Vijay (actor-politician). Rationale: “Protect the Constitution and secular values.”

Samarth Panchayat Portal — Digital OSR Management Ministry of Panchayati Raj expanding the Samarth Panchayat portal to states including Assam, Uttar Pradesh, and Maharashtra for digital Own Source Revenue (OSR) management by Gram Panchayats. Constitutional basis: 73rd Constitutional Amendment (Panchayati Raj). OSR includes taxes, service charges, rents, leases, fees collected at panchayat level.

Environment & Ecology

Indopotamon alipurduarense — New Freshwater Crab, West Bengal Scientists discovered Indopotamon alipurduarense, a new freshwater crab species in the sub-Himalayan Dooars, Alipurduar district, West Bengal — found in deep burrows (up to 1.5 m) in muddy rice fields. Active: May–August. Greyish shell with orange-red edges and claws. Second species in the Indopotamon genus. India’s total freshwater crab species: 183.

Three New Plant Species — Eastern Ghats, Andhra Pradesh Scientists identified three Critically Endangered new plant species in Andhra Pradesh’s Eastern Ghats: Euphorbia ananthapuramensis (Nigidi Forest, Sri Sathya Sai district; ~80 individuals), Euphorbia chalamensis (Chalama Forest, Gundla Brahmeswaram Wildlife Sanctuary, Nandyal district; >100 individuals), and Ceropegia andhrica (Paderu forest, Alluri Sitharamaraju district; ~200 individuals; leafless during flowering in May–June; edible tubers). All face threats from mining, forest fires, and grazing.

Caracal Returns to Thar Desert — Rajasthan Officials confirmed sightings of the caracal (siya gosh) near the India-Pakistan border in Rajasthan’s Thar Desert. Speed: up to 80 kph; can leap 3 metres to catch birds. Distribution: Africa, Central/West Asia, northwestern India. IUCN: Least Concern; India: Schedule I, Wildlife Protection Act 1972 (highest protection).

Jim Corbett NP — Tiger Vikram Dies at 21 Vikram, a male Bengal tiger aged 21, died at Jim Corbett National Park, Uttarakhand — India’s first national park (est. 1936 as Hailey National Park; renamed 1957) and first Project Tiger site (1973). Area: >1,300 sq km; main river: Ramganga (West).

MARS Expanded — Coal Mines and Waste Facilities Added UNEP’s Methane Alert and Response System (MARS) expanded to include coal mines and waste facilities. Operated by UNEP’s International Methane Emissions Observatory (IMEO) (launched G20 Leaders Summit 2021). MARS launched: COP27, Sharm el-Sheikh, November 2022.

Persons & Awards

Pulitzer Prize 2026 — Three Indian Journalists Win Three Indian journalists won Pulitzer Prizes announced May 4, 2026 at Columbia University, New York: Anand RK and Suparna Sharma (Bloomberg) — Illustrated Reporting and Commentary — for project “trAPPed” investigating India’s digital arrest cyberfraud epidemic (shared with Natalie Obiko Pearson); Aniruddha Ghosal (Associated Press) — International Reporting. Pulitzer Prize: established 1917; 23 categories; USD 15,000 per category.

Guillermo Cano World Press Freedom Prize 2026 — Sudanese Journalists Syndicate UNESCO awarded the 2026 Guillermo Cano World Press Freedom Prize to the Sudanese Journalists Syndicate. Prize established 1997; named after Guillermo Cano Isaza (Colombian journalist assassinated 1986); selected by independent international jury; awarded on World Press Freedom Day (May 3).

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