Current Affairs - May 15, 2026 Current Affairs

IIT Bombay commissioned India’s first Integrated Carbon Capture, Utilisation, and Storage (CCUS) Field Laboratory Facility under Bharat Innovates 2026 on May 11, 2026. The indigenously developed pilot facility has the capacity to process up to 3 tonnes of carbon dioxide per day using advanced aqueous-based catalytic CO₂ capture technology. The system can capture carbon dioxide from ambient air and industrial emissions using non-potable water sources such as seawater and industrial effluents. The project also includes geological sequestration in the Deccan Traps to permanently store CO₂. IIT Bombay, established in 1958, is an Institute of National Importance located in Powai, Mumbai.

INS Sunayna successfully completed its maritime port call at Chattogram, Bangladesh, under the Indian Ocean Ship (IOS) SAGAR initiative. The deployment was carried out under the Ministry of Defence and included joint naval activities with the Bangladesh Navy, such as a Passage Exercise (PASSEX) and coordinated maritime manoeuvres with BNS Protoy. The ship also carried personnel from 16 partner nations during the mission, highlighting regional maritime cooperation. After concluding its Bangladesh visit, the vessel proceeded toward Colombo, Sri Lanka, as part of its operational route. The initiative strengthens India’s maritime partnerships and regional security collaboration in the Indian Ocean region.

India prohibited the export of raw, white, and refined sugar until September 30, 2026, through an amendment to the trade policy announced by the Ministry of Commerce and Industry. The decision was taken to ensure adequate domestic supply and stabilise sugar prices in the local market. The prohibition applies to specific ITC (HS) codes under Chapter 17 of the trade classification system. Certain exemptions continue for quota-based exports to the European Union and the United States, shipments under the Advance Authorisation Scheme, and consignments related to international food security commitments. If not extended further, the export status will revert to “Restricted” after September 2026.

The National e-Governance Division (NeGD) felicitated five states for their successful integration of DigiLocker with citizen services during the National Consultative Workshop on Strengthening Cybersecurity Frameworks for State Data held on May 11, 2026. The recognised states included Karnataka, Gujarat, Keralam, Nagaland, and Rajasthan for their achievements in digital governance and service integration. DigiLocker, launched under the Digital India programme in 2015, enables citizens to securely access and store digital documents online. NeGD, functioning under the Digital India Corporation, plays an important role in promoting e-governance and digital public infrastructure across India.

AU Small Finance Bank launched a new credit card portfolio on May 14, 2026, introducing four variants tailored to different customer segments and lifestyle needs. The portfolio includes AU Ananta for affluent users, AU Laksya for digitally active professionals and Gen Z customers, AU Tejas for young salaried individuals, and AU Prathama for first-time credit users. These cards provide benefits such as reward points, cashback offers, airport lounge access, EMI facilities, and fuel surcharge waivers. AU Small Finance Bank is recognised as India’s largest Small Finance Bank and is also notable for receiving in-principle approval to transition into a Universal Bank.

Xflow launched India’s first compliant stablecoin-based cross-border payments infrastructure on May 14, 2026. The platform allows Indian businesses to accept international payments in stablecoins such as USDC and USDT and convert them into Indian Rupees through authorised banking channels. The system ensures regulatory compliance by conducting stablecoin transactions and off-ramping processes outside India, while only fiat currency enters the country through AD Category I banks. The platform mainly supports MSMEs, SaaS companies, and service exporters facing challenges in global payments. Xflow was co-founded by Anand Balaji and Ashwin Bhatnagar and is backed by investors such as Lightspeed, General Catalyst, and Stripe.

The International Day of Families is observed globally every year on May 15 to recognise the importance of families in society and their role in social development. The 2026 theme, “Families, Inequalities and Child Wellbeing,” highlighted how social and economic inequalities affect family life and children’s futures. The observance encourages governments and institutions to adopt policies supporting family welfare, education, health, employment, and social inclusion. The United Nations General Assembly proclaimed the day in 1993, and the first global observance took place in 1994. It serves as an important platform for promoting awareness about issues affecting families worldwide.

India’s annual inflation rate based on the Wholesale Price Index (WPI) stood at 8.3% in April 2026 on a provisional basis. The increase was mainly driven by higher prices of mineral oils, crude petroleum, natural gas, basic metals, and manufactured products. Fuel and power recorded a particularly sharp rise due to higher mineral oil prices, while primary articles also witnessed strong inflationary pressure. The WPI is released every month by the Office of the Economic Adviser under the Ministry of Commerce and Industry. Manufactured products carry the highest weightage in the WPI basket, making them a key factor in overall inflation trends.

Yoweri Museveni was officially sworn in for a historic seventh term as the President of Uganda on May 12, 2026. The oath-taking ceremony took place at the Kololo Independence Grounds in Kampala, the capital city of Uganda. Museveni secured a decisive electoral victory with more than 71 percent of the votes, while opposition leader Bobi Wine received around 25 percent. Museveni is regarded as one of Africa’s longest-serving leaders, and his latest victory extends his continuous tenure in office to nearly four decades. Uganda continues to play an important role in East African politics and regional affairs.

The Assam cabinet approved the draft Uniform Civil Code (UCC) Bill in May 2026, with plans to introduce it in the state legislative assembly on May 26, 2026. The proposed law aims to regulate civil matters such as marriage, divorce, live-in relationships, and compulsory marriage registration through a common legal framework. Tribal communities in Assam are exempted from the bill to preserve their traditional customs and cultural practices. The bill aligns structurally with UCC models of states like Gujarat, Uttarakhand, and Goa. Article 44 of the Indian Constitution mentions the Uniform Civil Code as a Directive Principle of State Policy.