Current Affairs for Exams

India's Factory Growth Slowed in May as Manufacturing Lost Momentum: PMI

India's HSBC Flash PMI showed factory and services growth slowing in May amid the West Asia conflict, though activity stayed in expansion.

Non-Food Bank Credit Grew 15.9% Year-on-Year in March 2026: RBI

RBI data shows non-food bank credit grew 15.9% year-on-year as of end-March 2026, signalling continued credit demand across sectors.

India Ranks 2nd Among Emerging Markets in April on Export Rebound

India ranked 2nd among emerging markets in April, driven by a rebound in exports — largely petroleum products amid high crude prices.

UPSC SSC BANKING

Final Redemption of First Sovereign Gold Bond Tranche Due

The first Sovereign Gold Bond tranche (2018-19 Series-I) reaches final redemption on 4 May 2026 after its eight-year maturity.

RBI Releases 46th Half-Yearly Report on Foreign Exchange Reserves

The RBI released its 46th Half-Yearly Report on foreign exchange reserves (Oct 2025–Mar 2026), part of a transparency practice begun in 2004.

Index of Eight Core Industries Grows Just 1.7% in April 2026

India’s Index of Eight Core Industries grew only 1.7% in April 2026, signalling a tepid start to the financial year.

UPSC SSC BANKING

Indian Railways Plans ₹40,000 Crore Tender for 1 Lakh Freight Wagons

Indian Railways plans a ~₹40,000 crore tender to procure 100,000 freight wagons over 3-4 years, boosting freight capacity.

UPSC RAILWAY SSC

India’s Wheat Procurement Crosses 34 Million Tonnes, Strengthening Food Buffers

India has procured 34.2 million tonnes of wheat this rabi season, above last year and near target, strengthening food buffer stocks.

UPSC SSC

Petrol-Diesel Excise Duty Cut to Cost Government ₹1 Lakh Crore in Revenue

FM Sitharaman said cutting excise duty on petrol and diesel will reduce government revenue by about ₹1 lakh crore, easing fuel prices for consumers.

UPSC SSC

Government Open to Reviewing Capital Gains Tax Amid FPI Outflows

FM Sitharaman said the government is open to views on cutting capital gains tax to attract foreign portfolio investors back to Indian markets.

RBI Weighs Options Including Rate Hike to Steady a Falling Rupee

With the rupee near 97 to the dollar, the RBI is weighing a rate hike, currency swaps, and overseas dollar-raising to stabilise it.

Status of ₹2000 Banknote Withdrawal — Over 98% Returned

The RBI’s periodic update shows the vast majority of withdrawn ₹2000 notes have returned to the banking system; the note remains legal tender.

RBI Transfers Record ₹2.87 Lakh Crore Dividend to the Centre

The RBI approved a record ₹2.87 lakh crore surplus transfer to the Centre and raised its contingency risk buffer by over ₹1 lakh crore.