Daily Current Affairs – 29 May 2026 | UPSC, SSC, Banking, Railway Exam Updates

Introduction

Current Affairs 29 May 2026 brings several important developments for aspirants preparing for UPSC, SSC, Banking, Railways, Defence, Insurance, and State PSC examinations. Today's coverage includes the approval of the ₹25,530 crore SARTHAK-PDS Scheme, the India-US Critical Minerals Framework, the launch of Mission Queen Pineapple, progress in India's indigenous AMCA fifth-generation fighter programme, and the discovery of the ancient Loktak Protocluster. These Latest Current Affairs 2026 developments are highly relevant for both prelims and mains examinations.

Detailed Current Affairs - 29 May 2026

National Affairs

SARTHAK-PDS Scheme Approved with ₹25,530 Crore Outlay

Why in News

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved the continuation of the SARTHAK-PDS Scheme with a total central outlay of ₹25,530 crore for five years up to 31 March 2031. The initiative aims to modernize India's Public Distribution System while improving foodgrain movement and distribution efficiency.

The scheme merges two existing schemes related to foodgrain transportation and technology modernization under a single umbrella framework. This move is expected to reduce duplication, improve transparency, and strengthen food security delivery across India.

The decision is significant because India operates one of the world's largest food security networks serving over 81 crore beneficiaries under the National Food Security Act (NFSA), 2013.

Key Highlights

• SARTHAK-PDS will operate with a central allocation of ₹25,530 crore during the 16th Finance Commission cycle.
• Two existing schemes have been merged to improve operational efficiency and reduce administrative overlap.
• The scheme supports 81.35 crore NFSA beneficiaries across all states and union territories.
• Implementation will be carried out by the Department of Food and Public Distribution.
• The initiative promotes automation, transparency, and digitization in ration distribution.
• Financial assistance will continue for intra-state movement and handling of foodgrains.
• The scheme supports India's broader objective of ensuring food and nutritional security.

Knowledge Booster

• NFSA 2013 provides legal entitlement to subsidized foodgrains.
• Fair Price Shops (FPSs) form the last-mile distribution network.
• India runs the world's largest food subsidy programme.
• One Nation One Ration Card (ONORC) complements PDS reforms.

Analysis

The consolidation of food security schemes under SARTHAK-PDS reflects a shift toward integrated governance. The initiative is likely to improve efficiency, reduce leakages, and strengthen digital monitoring of foodgrain distribution, making it important for governance and welfare-related UPSC questions.

India-US Critical Minerals and Rare Earth Framework

Why in News

India and the United States signed a framework agreement on securing supply chains for critical minerals and rare earth elements. The agreement was signed by Dr. S. Jaishankar and Marco Rubio during the 11th Quad Foreign Ministers Meeting.

The framework seeks to secure mining, processing, recycling, and supply of critical minerals necessary for clean energy technologies, semiconductors, batteries, and strategic industries.

The agreement gains importance as countries worldwide seek alternatives to concentrated supply chains and work toward resilient critical mineral ecosystems.

Key Highlights

• Focuses on critical minerals and rare earth elements.
• Strengthens India-US strategic cooperation.
• Supports resilient and diversified supply chains.
• The United States plans investments exceeding USD 30 billion.
• A Quad framework aims to mobilize USD 20 billion in Indo-Pacific funding.
• Covers mining, processing, recycling, and financing.
• Supports clean energy and advanced manufacturing sectors.

Knowledge Booster

• Rare Earth Elements (REEs) are crucial for electronics and defence systems.
• The Quad includes India, USA, Japan, and Australia.
• Lithium, cobalt, nickel, and graphite are classified as critical minerals.
• Critical minerals are essential for EV batteries and renewable energy.

Analysis

Control over critical minerals has become a major geopolitical issue. The framework strengthens India's resource security and supports domestic manufacturing under strategic initiatives such as Make in India and energy transition policies.

Defence & Security

Ministry of Defence Issues RFP for AMCA Programme

Why in News

The Ministry of Defence issued a Request for Proposal (RFP) for the Advanced Medium Combat Aircraft (AMCA) programme, India's first indigenous fifth-generation stealth fighter aircraft project.

The programme is estimated to cost ₹15,000 crore for prototype development and marks a major step toward self-reliance in advanced defence technologies.

For the first time, significant private-sector participation has been encouraged alongside traditional defence manufacturers.

Key Highlights

• India's first indigenous fifth-generation stealth fighter programme.
• Implemented by ADA under DRDO.
• Estimated prototype cost: ₹15,000 crore.
• Five flying prototypes and one structural test aircraft planned.
• Private sector participation invited.
• Manufacturing facility planned at Puttaparthi, Andhra Pradesh.
• Supports the Make in India initiative.

Knowledge Booster

• ADA stands for Aeronautical Development Agency.
• DRDO develops indigenous defence technologies.
• Stealth aircraft reduce radar detection.
• AMCA is expected to strengthen India's air superiority capabilities.

Analysis

The AMCA project represents a transformative shift in India's aerospace ecosystem. Success would reduce dependence on imports and place India among a limited group of nations capable of designing fifth-generation fighter aircraft.

Science & Technology

Discovery of the 12.6-Billion-Year-Old Loktak Protocluster

Why in News

An international research team led by Indian scientist Dr. Ronaldo Laishram discovered the Loktak Protocluster, a massive ancient structure dating back approximately 12.6 billion years.

Named after Loktak Lake in Manipur, the discovery provides valuable insights into early galaxy formation and cosmic evolution.

The findings were published in The Astrophysical Journal Letters and were based on observations from the Subaru Telescope and James Webb Space Telescope (JWST).

Key Highlights

• Located approximately 12.6 billion light-years away.
• Universe was only 1.2 billion years old at the observed stage.
• Named after Loktak Lake, Manipur.
• Discovery led by Dr. Ronaldo Laishram.
• Utilized JWST and Subaru Telescope observations.
• Galaxies observed were around 1.4 times larger than expected.
• Provides insights into early galaxy evolution.

Knowledge Booster

• JWST is NASA's most advanced space telescope.
• Protoclusters are precursors to modern galaxy clusters.
• Loktak Lake is the largest freshwater lake in Northeast India.
• The constellation involved is Sextans.

Economy & Banking

MobiKwik Receives RBI Approval for PA-P Licence

Key Highlights

• One Mobikwik Systems Limited received in-principle approval for a Payment Aggregator-Physical (PA-P) Licence.
• Allows offline merchant payment aggregation.
• Supports QR payments, PoS infrastructure, and settlements.
• Company aims for ten-fold merchant business growth by FY28.
• Approval expands fintech participation in physical commerce.

RBI Extends Tenure of Ketan Merchant

• RBI granted a three-month extension to Ketan Merchant as Interim CEO of Fino Payments Bank.
• Extension became effective from 27 May 2026.
• Merchant has over 27 years of banking experience.

Important Days

World Hunger Day 2026 - 28 May

• Theme: "The End of Hunger is in our Hands"
• Established by The Hunger Project in 2011.
• Promotes awareness about global food insecurity.

International Day of Action for Women's Health 2026

• Campaign Theme: "Essential, Not Optional"
• Focuses on healthcare access and reproductive rights.

World Menstrual Hygiene Day 2026

• Theme: "Together for a #PeriodFriendlyWorld"
• Observed annually on 28 May.
• Promotes menstrual health awareness and dignity.

Today's Current Affairs One-Liners - 29 May 2026

National Affairs

● Food Security - The Cabinet Committee on Economic Affairs (CCEA) approved the ₹25,530 crore SARTHAK-PDS Scheme for the period up to 31 March 2031, merging the SMART-PDS Scheme and assistance for intra-state foodgrain movement to modernize India's Public Distribution System and strengthen food security for 81.35 crore NFSA beneficiaries.

● International Cooperation - India and the United States signed a framework on securing the supply, mining, processing, and recycling of critical minerals and rare earth elements, with the United States committing over USD 30 billion to strengthen resilient mineral supply chains.

● Quad Initiative - The four Quad nations—India, United States, Japan, and Australia—finalized a critical minerals framework aimed at mobilizing up to USD 20 billion in public-private investments across the Indo-Pacific region.

● Governance - The Ministry of Home Affairs (MHA) constituted a High-Level Committee chaired by retired Supreme Court Judge Justice Prakash Prabhakar Naolekar to study demographic changes caused by illegal immigration and other abnormal settlement patterns.

● Agriculture - India’s total foodgrain production for 2025-26 has been estimated at a record 376.563 million tonnes, marking a 5.3% increase over the previous year and the highest production ever recorded in the country.

● Agriculture - The Third Advance Estimates projected India's rice production at 154.024 million tonnes and wheat production at 120.657 million tonnes, both achieving record levels during the 2025-26 crop year.

● Agriculture - India's total oilseed production for 2025-26 has been estimated at 43.059 million tonnes, including major contributions from groundnut, soybean, and rapeseed-mustard crops.

● Northeast Development - Union Minister Jyotiraditya M. Scindia launched the ₹236 crore Tripura Mission Queen Pineapple initiative to strengthen cultivation, processing, logistics, and marketing of Tripura’s GI-tagged Queen Pineapple.

● Skill Development - The National Skill Development Corporation (NSDC) partnered with Japan’s Fourth Valley Concierge Corporation (FVCC) to facilitate employment opportunities for at least 50,000 skilled Indian professionals in Japan over the next five years.

● Railways - Indian Railways inaugurated CHIRAG (Centre for HR Information Systems, Research and Analytics in Governance) in Secunderabad, Telangana, to strengthen HR training, analytics, and digital governance through AI and machine learning integration.

Defence & Security

● Defence Technology - The Ministry of Defence (MoD) issued the Request for Proposal (RFP) for the Advanced Medium Combat Aircraft (AMCA) programme, India's first indigenous fifth-generation stealth fighter project with a prototype development cost of ₹15,000 crore.

● Make in India Defence - Under the AMCA programme, private sector companies such as Tata Advanced Systems, L&T-BEL-Dynamatic Consortium, and Bharat Forge-BEML-Data Patterns Consortium have been invited to participate in aircraft manufacturing.

Economy & Banking

● Fintech Sector - One Mobikwik Systems Limited received the Reserve Bank of India’s in-principle approval for a Payment Aggregator-Physical (PA-P) Licence, enabling the company to provide digital payment aggregation services to offline merchants across India.

● Digital Payments - The PA-P licence will allow MobiKwik to expand QR-based payments, Point-of-Sale infrastructure, and merchant settlement services while targeting a ten-fold increase in merchant business by FY28.

Sports

● Athletics - India secured hosting rights for the 2027 Asian Relays Championship in Chandigarh and the 2028 Asian Indoor Athletics Championships in Bhubaneswar from the Asian Athletics Association (AAA).

● Sports Infrastructure - The 2028 Asian Indoor Athletics Championships will be hosted at the Kalinga Stadium Indoor Athletics Centre in Bhubaneswar, India's first permanent international-standard indoor athletics facility.

Appointments & Resignations

● Banking Appointment - The Reserve Bank of India approved a three-month extension for Ketan Merchant as the Interim Chief Executive Officer of Fino Payments Bank, effective from 27 May 2026.

● Corporate Leadership - Ketan Merchant, who has over 27 years of banking experience, played a significant role in managing Fino Payments Bank’s IPO and stock market listing.

Science & Technology

● Astronomy - Indian scientist Dr. Ronaldo Laishram led an international team that discovered the Loktak Protocluster, a massive cosmic structure located approximately 12.6 billion light-years away, providing insights into the early universe.

● Space Research - The discovery of the Loktak Protocluster was made using observations from Japan’s Subaru Telescope and NASA’s James Webb Space Telescope (JWST), highlighting international scientific collaboration.

● Scientific Significance - Researchers found that galaxies within the Loktak Protocluster were approximately 1.4 times larger than similar galaxies elsewhere, suggesting that dense cosmic environments accelerated early galaxy evolution.

Books & Authors

● Book Launch - P.T. Usha and Dilip Tirkey released the book “India’s Olympic Gold: Hockey Triumph at Amsterdam”, authored by hockey historian K. Arumugam, commemorating India’s first Olympic hockey gold medal won in 1928.

● Sports History - The publication marks the 16th book authored by K. Arumugam and celebrates the 98th anniversary of India’s first Olympic hockey gold medal.

Obituary

● Sports Personality - Renowned shooter and sports administrator Raja Randhir Singh, a five-time Olympian and Arjuna Award recipient, passed away at the age of 79 years in New Delhi.

● Olympic Achievement - Raja Randhir Singh became the first Indian shooter to win an Asian Games gold medal after securing the men’s trap shooting title at the 1978 Asian Games in Bangkok.

Important Days

● World Hunger Day 2026 - Observed on 28 May with the theme “The End of Hunger is in our Hands”, emphasizing sustainable solutions to eliminate food insecurity worldwide.

● International Day of Action for Women's Health 2026 - Observed on 28 May with the campaign theme “Essential, Not Optional: Strengthening Health Systems to Uphold Health Rights and SRHRJ in Times of Polycrisis.”

● World Menstrual Hygiene Day 2026 - Celebrated globally on 28 May under the theme “Together for a #PeriodFriendlyWorld” to promote menstrual health awareness and eliminate stigma.

State Affairs

● Andhra Pradesh - The Government of Andhra Pradesh, in collaboration with SIDBI, announced a deep-tech angel fund through the Ratan Tata Innovation Hub to support startups in AI, semiconductors, quantum technology, and clean energy sectors.

● Chhattisgarh - The Chhattisgarh Government launched the ₹200 crore Adarsh Shahar Samriddhi Yojana to strengthen civic infrastructure, smart governance, healthcare, housing, and urban development in emerging towns.