Current Affairs - May 11, 2026 Current Affairs

Odisha secured the top position in India for achieving the highest number of housing completions under the Pradhan Mantri Awas Yojana-Urban (PMAY-U 2.0). The state consistently maintained the number one rank from March 2025 to March 2026 for urban housing completion performance. Under the scheme’s second phase, more than 24,000 houses were sanctioned in Odisha, with a large number successfully geo-tagged and several thousand units under active construction. The initiative is managed by the Housing and Urban Development Department in coordination with Urban Local Bodies. PMAY-U aims to provide durable and affordable housing to eligible urban households across the country.

Professor Kuljeet Kaur Marhas was elected as a Fellow of The Meteoritical Society in 2026 for her exceptional contributions to planetary science and cosmochemistry. She became the first Indian woman to receive this prestigious recognition and only the third Indian scientist to achieve the honour after Devendra Lal and JN Goswami. Her research at the Physical Research Laboratory in Ahmedabad focuses on isotopes, pre-solar grains, Calcium-Aluminium-rich Inclusions, and extraterrestrial materials collected from missions such as Stardust, Hayabusa, and Apollo. Her scientific work has significantly advanced the understanding of the origin and evolution of the Solar System through sophisticated isotopic analysis techniques.

O.P. Jindal Global University (JGU), located in Sonipat, Haryana, became the first Institution of Eminence in India to receive accreditation from the Data Science Council of America (DASCA). The accreditation was granted under the World Data Science & AI Initiative (WDSAI) to align academic programs with international industry standards. The certification remains valid until 2031 and covers residential, non-residential, and online learning formats. Several AI and Data Science-related programs, including MBA, M.Sc., and undergraduate courses, received recognition under this framework. The achievement highlights the university’s growing focus on advanced technology education, ethical AI practices, and globally benchmarked academic excellence.

The Lump Sum Traffic Challan Settlement Scheme 2026 was launched by the Bihar Police along with the state transport department to address the large number of pending traffic e-challans. The scheme focuses on resolving challans that remained unpaid for more than 90 days as of March 31, 2026. It also offers relief in penalties for minor traffic offences such as speeding, not wearing helmets or seat belts, and driving without a licence. More than two lakh pending challan cases are targeted for disposal through the National Lok Adalat process, improving efficiency in traffic law enforcement and dispute resolution across Bihar.

IIT Madras announced the creation of its first international deep-tech center in Menlo Park, California, with an investment plan of US$ 7.5 million. The initiative was introduced at the SelectUSA Investment Summit and aims to support Indian deep-tech startups by providing access to mentorship, funding opportunities, and global markets. Developed in collaboration with CA Startups, the centre is designed to encourage translational research, innovation, and international talent exchange. IIT Madras, established in 1959 with support from West Germany, is recognised as one of India’s leading engineering and research institutions and is headquartered in Chennai, Tamil Nadu.

The Reserve Bank of India approved Kotak Mahindra Bank to acquire up to 9.99% stake in both AU Small Finance Bank and Federal Bank. The approval allowed the Kotak Mahindra Group to increase its aggregate holding in the two banking institutions through paid-up share capital or voting rights. Following the announcement, market valuations of the involved banks witnessed positive movement. Kotak Mahindra Bank, founded by Uday Kotak in 1985, became the first Non-Banking Financial Company in India to convert into a commercial bank in 2003. The development highlights ongoing consolidation and strategic investments within India’s banking and financial sector.

S&P Global revised India’s FY27 GDP growth forecast to 6.6% due to a major energy supply disruption originating in West Asia. The downgrade reflected concerns over rising crude oil prices, increased freight costs, and global economic uncertainty. Earlier projections estimated growth at 7.1%, while the economy had previously expanded by 7.6%. The report also highlighted rising inflation, weakening of the Indian rupee, and widening current account deficits caused by increased import dependence on crude oil and gas. To address the economic challenges, the government introduced stabilisation measures such as a ₹1 lakh crore oil hedging fund and maintenance of strategic petroleum reserves.

The Supreme Court proposed the establishment of a permanent Vice-President post reserved exclusively for women in the Supreme Court Bar Association (SCBA) beginning from the 2027-28 term. The move is aimed at improving women’s representation in legal institutions and encouraging greater participation in leadership roles within the legal profession. The court also retained the reservation of the Secretary post for women in the 2026-27 SCBA elections. These reforms are part of broader judicial efforts to strengthen gender inclusion, including reservations for women in bar associations and bar councils, ultimately paving the way for increased representation of women in senior legal positions.

ICGS Achal is a new-generation Adamya-class Fast Patrol Vessel commissioned into the Indian Coast Guard at Goa Shipyard Limited on May 09, 2026. The vessel was designed and built entirely in India, supporting the government’s focus on indigenous defence manufacturing and self-reliance. More than 50 percent of its components are domestically produced, highlighting advancements in the Indian shipbuilding sector. The vessel is intended to strengthen maritime security and coastal surveillance operations across India’s maritime frontiers. The commissioning ceremony was attended by senior officials from the Ministry of Defence and the Indian Coast Guard, reflecting the strategic importance of the induction.

Priyanka Mittal of KRBL Limited was appointed as the Co-Chair of the Indian side of the Saudi-India Business Council (SIBC) by the Federation of Indian Chambers of Commerce and Industry (FICCI). She will work alongside Dr. Siddeek Ahmed to strengthen corporate and trade relations between India and Saudi Arabia. KRBL Limited is widely recognised for its India Gate rice brand and for maintaining an integrated supply chain system. The SIBC serves as an important platform for enhancing bilateral economic cooperation, trade partnerships, and investment opportunities between the two countries, contributing to stronger commercial engagement and long-term business collaboration.