Daily Current Affairs – 31 May 2026 | UPSC, SSC, Banking, Railway & State PSC Exam Updates

Introduction

Current Affairs 31 May 2026 brings several important developments for competitive exam aspirants. Key highlights include the launch of the Logistics Port Performance Index (LPPI) by Sarbananda Sonowal, notification of two Special Economic Zones (SEZs) in Puducherry, strengthening of India-Canada economic relations, new digital payment initiatives by Bank of Baroda, and significant findings from Chandrayaan-2. These Latest Current Affairs 2026 updates are highly relevant for UPSC, SSC, Banking, Railways, Defence, Insurance, and State PSC examinations.

Detailed Current Affairs - 31 May 2026

National Affairs

Launch of Logistics Port Performance Index (LPPI) and Maritime Digital Initiatives

Why in News

Union Minister Sarbananda Sonowal, representing the Ministry of Ports, Shipping and Waterways (MoPSW), launched the Logistics Port Performance Index (LPPI) for FY25 during the 37th Foundation Day celebration of Jawaharlal Nehru Port Authority (JNPA) in Mumbai. Alongside LPPI, four major digital governance initiatives were introduced to modernize India's maritime ecosystem.

The launch is significant because India is focusing on reducing logistics costs, improving port efficiency, and strengthening maritime infrastructure under the vision of becoming a leading global logistics hub.

Key Highlights

• LPPI serves as a national benchmarking framework to evaluate operational efficiency across Indian ports.
• It assesses performance in dry bulk, liquid bulk, and container cargo segments.
• Six parameters are used, including cargo handled, vessel turnaround time, berth idle time, pre-berthing waiting time, container dwell time, and ship berth day output.
• The framework incorporates both absolute performance and year-on-year improvement.
• Four digital initiatives were developed by the Directorate General of Shipping (DGS).
• New modules include e-Navik Grievance Redressal, e-Samudra Ship Registration, Medical Practitioner Module, and Unified Ship Recycling Credit Note Module.
• These initiatives promote transparency, digital governance, and operational efficiency.

Knowledge Booster

• JNPA is India's largest container port.
• Sagar Aankalan is India's port performance monitoring framework.
• India aims to reduce logistics costs from around 13-14% of GDP to global standards.
• Maritime development is a major component of the Blue Economy strategy.

Analysis

LPPI can become an important reform tool by introducing data-driven competition among ports. Efficient ports reduce transportation costs, improve exports, and enhance India's competitiveness in global supply chains.

Government Notifies Two New SEZs in Puducherry

Why in News

The Government of India approved two new Special Economic Zones (SEZs) in Puducherry with a combined proposed investment of ₹1,975 crore. The projects are expected to strengthen manufacturing, technology, and services sectors while creating employment opportunities.

Key Highlights

• One project is an IT/ITES SEZ at Thattanchavady.
• The IT/ITES SEZ will be developed by Oulgaret Municipality.
• It is India's first municipality-developed SEZ.
• Investment in the IT SEZ is ₹725 crore.
• Expected employment generation is 3,500 jobs.
• The second project is a Multi-Sector SEZ at Karasur village.
• It will be developed by PIPDIC.
• Investment in the Multi-Sector SEZ is ₹1,250 crore.
• Expected employment generation is 5,000 jobs.

Knowledge Booster

• SEZs operate under the Special Economic Zones Act, 2005.
• They are designed to promote exports and attract investment.
• Developers receive various tax and procedural benefits.
• China successfully used SEZs to accelerate industrialization.

International Affairs

Piyush Goyal's Canada Visit and CEPA Negotiations

Why in News

Union Minister Piyush Goyal visited Canada from 25-27 May 2026 to strengthen bilateral trade and advance negotiations on the Comprehensive Economic Partnership Agreement (CEPA).

Key Highlights

• Meetings were held with Canadian PM Mark Carney.
• Discussions involved trade, agriculture, and foreign affairs ministers.
• India-Canada Trade and Investment Forum was launched.
• Both countries aim to finalize CEPA by the end of 2026.
• Bilateral trade target has been set at USD 50 billion by 2030.
• Technology and innovation cooperation were emphasized.

Analysis

A successful CEPA would diversify India's trade partnerships and improve market access for goods, services, and investments. It could also strengthen strategic ties amid evolving global trade dynamics.

Economy & Banking

Bank of Baroda Launches New UPI Features

Why in News

Bank of Baroda (BoB) introduced three advanced digital payment features on its bob इ Pay platform to improve customer convenience and security.

Key Highlights

• Biometric authentication for UPI payments up to ₹5,000.
• Supports fingerprint and facial recognition.
• Applicable to both P2P and P2M transactions.
• Aadhaar-based face authentication introduced for UPI PIN management.
• UIDAI technology reduces dependence on debit cards.
• IoT-enabled UPI payments introduced.
• Customers can make payments through connected smart devices.

Decentro Becomes First PSP at GIFT City

Key Highlights

• Decentro became the first Indian Payment Aggregator to receive PSP approval from IFSCA.
• Approval allows cross-border payment operations from GIFT City.
• Services include merchant acquisition, virtual accounts, escrow solutions, and international transfers.
• Strengthens India's fintech ecosystem and international financial services framework.

TCS Partners with Mistral AI

Key Highlights

• Tata Consultancy Services (TCS) became the first Global Systems Integrator to partner with Mistral AI.
• Partnership focuses on enterprise Generative AI solutions.
• Target sectors include BFSI, manufacturing, healthcare, and public sector.
• TCS will establish a dedicated Centre of Excellence.

Analysis

The partnership reflects India's growing role in enterprise AI deployment and highlights increasing demand for sovereign and industry-specific AI solutions.

Science & Technology

Chandrayaan-2 Detects Evidence of Subsurface Lunar Ice

Why in News

Scientists from the Physical Research Laboratory (PRL) used data from Chandrayaan-2's Dual-Frequency Synthetic Aperture Radar (DFSAR) to identify evidence of subsurface water ice in permanently shadowed lunar south polar craters.

Key Highlights

• Evidence found in a 1.1 km crater within the Faustini Basin.
• Radar observations suggest ice-rich subsurface structures.
• Study focused on Permanently Shadowed Regions (PSRs).
• Findings were published in NPJ Space Exploration.
• Water ice could support future human lunar missions.
• Ice may provide drinking water, oxygen, and rocket fuel.

Knowledge Booster

• Chandrayaan-2 was launched in July 2019.
• India's first lunar mission was Chandrayaan-1.
• Chandrayaan-1 confirmed the presence of water molecules on the Moon.
• The lunar south pole is a major focus for future international missions.

Analysis

The discovery enhances the strategic importance of the Moon's south pole. Availability of water resources is crucial for long-term human habitation and future deep-space exploration missions.

Appointments & Resignations

Vice Admiral Ajay Kochhar Becomes 48th Vice Chief of Naval Staff

• Vice Admiral Ajay Kochhar assumed office as the 48th Vice Chief of Naval Staff.
• He previously headed the Andaman and Nicobar Command.
• Recipient of NM, AVSM, and PVSM awards.
• Has commanded INS Vikramaditya, INS Trikand, and other major naval platforms.

Obituary

Former CCI Chairman Dhanendra Kumar Passes Away

• Former Competition Commission of India (CCI) Chairman Dhanendra Kumar passed away at the age of 80.
• He was a 1968-batch IAS officer of Haryana cadre.
• Served as India's Executive Director at the World Bank before heading CCI.

Books & Authors

Better Never Stops

• Former Federal Bank CEO Shyam Srinivasan released his debut book "Better Never Stops: Leadership Insights from Life's Unscripted Moments."
• The book focuses on leadership, resilience, adaptability, and decision-making.

Today's Current Affairs One-Liners - 31 May 2026

National Affairs

● National Affairs - Union Minister Sarbananda Sonowal launched the Logistics Port Performance Index (LPPI) FY25 and four new digital maritime governance initiatives during the 37th Foundation Day of Jawaharlal Nehru Port Authority (JNPA) in Mumbai, Maharashtra, to improve port efficiency, transparency, and logistics competitiveness across India's maritime sector.

● National Affairs - The newly launched LPPI evaluates Indian ports across dry bulk, liquid bulk, and container cargo segments using six performance indicators, including vessel turnaround time, berth idle time, cargo handled, and container dwell time, under the Sagar Aankalan Framework.

● National Affairs - The Directorate General of Shipping (DGS) introduced four digital modules, namely 24×7 Grievance Redressal under e-Navik, Ship Registration under e-Samudra, Medical Practitioner Module, and Unified Ship Recycling Credit Note Module, to strengthen digital governance in the maritime sector.

● National Affairs - The Government of India approved two new Special Economic Zones (SEZs) in Puducherry with a total proposed investment of ₹1,975 crore, aiming to boost industrial growth, exports, technology development, and employment generation in the Union Territory.

● National Affairs - The IT/ITES SEZ at Thattanchavady, Puducherry, will be developed by Oulgaret Municipality, making it India's first municipality-developed SEZ, with an investment of ₹725 crore and expected creation of 3,500 jobs.

● National Affairs - The Multi-Sector SEZ at Karasur Village, Villianur Taluk, will be developed by PIPDIC with an investment of ₹1,250 crore, generating around 5,000 jobs while supporting manufacturing, services, and technology industries.

International Affairs

● International Affairs - Union Minister Piyush Goyal visited Canada from 25-27 May 2026 to accelerate negotiations on the India-Canada Comprehensive Economic Partnership Agreement (CEPA) and strengthen bilateral trade and investment cooperation.

● International Affairs - During his visit to Ottawa, Piyush Goyal met Canadian Prime Minister Mark Carney, Trade Minister Maninder Sidhu, Agri-Food Minister Heath MacDonald, and Foreign Minister Anita Anand to discuss economic and strategic cooperation.

● International Affairs - India and Canada launched the India-Canada Trade and Investment Forum, targeted the completion of CEPA by the end of 2026, and set a goal to expand bilateral trade to USD 50 billion by 2030.

Banking & Finance

● Banking & Finance - Bank of Baroda (BoB) introduced biometric authentication, UIDAI-based face authentication, and IoT-enabled UPI payment services on its bob इ Pay platform to enhance customer convenience, security, and digital payment innovation.

● Banking & Finance - BoB's new biometric authentication system allows customers to authorize UPI transactions up to ₹5,000 using registered fingerprints or facial recognition while supporting both Person-to-Person (P2P) and Person-to-Merchant (P2M) payments.

● Banking & Finance - The bank's new UIDAI face authentication feature enables customers to set or reset UPI PINs without debit cards, using Aadhaar-based facial verification and OTP authentication.

● Banking & Finance - BoB also launched IoT-based UPI payments, enabling customers to make digital payments directly through connected vehicles and smart devices linked to the bob इ Pay application.

● Banking & Finance - Fintech company Decentro became the first Indian Payment Aggregator (PA) to receive final approval from IFSCA to operate as a Payment Service Provider (PSP) at GIFT City, Gujarat, enabling cross-border payment services.

● Banking & Finance - Decentro plans to offer merchant acquisition, virtual account issuance, cross-border money transfers, escrow services, and multi-currency accounts through its newly established GIFT City entity.

Economy & Business

● Economy & Business - Tata Consultancy Services (TCS) became the first Global Systems Integrator (GSI) to partner with French AI startup Mistral AI for delivering advanced enterprise-grade Generative Artificial Intelligence (GenAI) solutions globally.

● Economy & Business - Through the partnership, TCS will use Mistral Forge to develop customized enterprise AI models for industries such as BFSI, healthcare, manufacturing, and public sector organizations.

● Economy & Business - TCS will establish a dedicated Centre of Excellence (CoE) for Mistral AI to accelerate AI adoption, industry-specific innovation, workforce training, and large-scale enterprise deployments.

Appointments & Resignations

● Appointments - Vice Admiral Ajay Kochhar, former Commander-in-Chief of the Andaman and Nicobar Command, assumed charge as the 48th Vice Chief of the Naval Staff (VCNS) of the Indian Navy in May 2026.

● Appointments - A Gunnery and Missile Systems specialist commissioned in July 1988, Vice Admiral Ajay Kochhar has commanded major naval assets including INS Vikramaditya, INS Trikand, INS Kirpan, INS Vibhuti, and INS Nashak.

● Appointments - Vice Admiral Ajay Kochhar has been awarded the Nau Sena Medal (NM), Ati Vishisht Seva Medal (AVSM), and Param Vishisht Seva Medal (PVSM) for his distinguished service and leadership in the Indian Navy.

Science & Technology

● Science & Technology - Scientists from the Physical Research Laboratory (PRL), Ahmedabad, discovered evidence of subsurface water ice deposits in permanently shadowed lunar south polar craters using data from Chandrayaan-2's DFSAR instrument.

● Science & Technology - A 1.1-kilometre crater in the Faustini Basin showed strong radar signatures indicating the presence of ice-rich subsurface material that likely melted briefly after impact and later refroze.

● Science & Technology - The discovery is significant because lunar water ice can support future human missions by providing oxygen, drinking water, and rocket fuel, making long-term lunar habitation more feasible.

Obituary

● Obituary - Former Competition Commission of India (CCI) Chairman Dhanendra Kumar passed away at the age of 80, leaving behind a significant legacy in strengthening India's competition law and fair market framework.

● Obituary - A 1968-batch IAS officer of the Haryana cadre, Dhanendra Kumar also served as India's Executive Director at the World Bank before becoming the first Chairman of the CCI.

Books & Authors

● Books & Authors - Former Federal Bank CEO Shyam Srinivasan released his debut book titled "Better Never Stops: Leadership Insights from Life's Unscripted Moments", focusing on leadership lessons from banking and sports experiences.

● Books & Authors - Published by Wyzr Content Private Limited, the book highlights the importance of decision-making, adaptability, resilience, and continuous improvement in effective leadership.

Important Days

● Important Days - The International Day of Potato 2026 was observed on 30 May with the theme "Where potatoes grow, livelihoods flourish", recognizing the potato's role in food security, nutrition, and sustainable agriculture.

● Important Days - The observance was officially proclaimed by the United Nations General Assembly (UNGA) through Resolution A/RES/78/123, following a proposal from Peru, the ancestral home of the potato.

● Important Days - World Vape Day 2026 was observed globally on 30 May under the theme "One Switch - Everyone Wins", promoting harm reduction approaches for adult smokers through safer nicotine alternatives.

● Important Days - World Multiple Sclerosis Day 2026 was observed on 30 May with the campaign theme "My MS Diagnosis" and the tagline "Navigating MS Together", raising awareness about neurological disorders and patient support.

These expanded one-liners are closer to the level expected for UPSC Prelims, SSC CGL, Banking, Railways, Defence, and State PSC revision notes, as they include who, what, where, when, figures, significance, and exam-relevant facts in a single sentence.