Daily Current Affairs 28 May 2026

The central government has constituted the High-Level Committee on Demographic Change (HLCDC) to conduct a scientific assessment of ‘unnatural demographic changes’ resulting from illegal immigration and other abnormal factors.

The committee, set up under the Ministry of Home Affairs (MHA), is chaired by Justice Prakash Prabhakar Naolekar (Retired). The other members of the HLCDC include Mritunjay Kumar Narayan (Census Commissioner of India), Durga Shankar Mishra, Balaji Srivastava, and Dr Shamika Ravi.

The National Commodities and Derivatives Exchange Ltd (NCDEX) has launched the first exchange-traded weather derivatives contract in India, named “RAINMUMBAI”, marking the entry of the country into a regulated weather-risk trading market.

Scheduled for implementation in June 2026, the contract is designed to hedge the financial exposure of rainfall extremes and variability in Mumbai. It was developed in collaboration with the IIT Bombay and is based on official rainfall data from the India Meteorological Department. The contract features a tick size of 1 millimeter (mm) with a lot multiplier of ₹50 per mm and a maximum order size of 50 lots.

The RBI has cancelled the licence of Maharashtra-based Yashwant Co-operative Bank Ltd (UCB) with immediate effect, citing inadequate capital, poor financial health, and regulatory violations.

Following the liquidation process, eligible depositors of the UCB will be entitled to receive a deposit insurance claim of up to ₹5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

PM Narendra Modi has paid an official visit to Norway at the invitation of the Norwegian PM Jonas Gahr Store. During the visit, PM Modi participated in the 3rd India-Nordic Summit held in Oslo (the capital of Norway), held bilateral talks with his counterpart, and attended the India-Norway Business and Research Summit.

The key outcomes of the visit included the elevation of bilateral relations between India and Norway to a Green Strategic Partnership, the decision of Norway to join the Indo-Pacific Oceans Initiative (IPOI), the agreement of India to participate in Nor Shipping 2027, and the launch of the India-Norway Digital Development Partnership.

PM Modi was conferred with the Royal Norwegian Order of Merit Grand Cross, one of the highest civilian awards of Norway, by King Harald V. This represents the 32nd global honour received by the PM. Both countries signed 12 agreements to strengthen cooperation across various sectors.

Tata Power Company Ltd (TPCL) has signed an MoU with the Bhutan-based state-owned utility, Druk Green Power Corporation Ltd (DGPC), to establish a clean energy cooperation framework.

The partnership aims to develop 5,000 Megawatt (MW) of clean energy capacity in Bhutan.

Union Minister Piyush Goyal has inaugurated the 68th Session of the Governing Body Meeting (GBM) of the Asian Productivity Organization (APO) at Bharat Mandapam in New Delhi. During the session, member countries reviewed the progress under the ‘APO Vision 2030’ framework, which focuses on productivity-led transformation in the Asia-Pacific region.

The APO National Award for Productivity Advocates was presented to Ashok Panjwani, while the APO National Award for Productivity Technical Expert was conferred on Bakul Limbasiya.

Union Minister Rajnath Singh held bilateral talks with South Korean Ministers Ahn Gyu-back and Lee Yong-cheol in Seoul. He also chaired the India-ROK Defence Industry Business Roundtable in Seoul to foster bilateral defence cooperation.

During the visit, India and the ROK exchanged an MoU to enhance cooperation in defence cyber security and defence information sharing. Additionally, two agreements were signed between Larsen & Toubro (L&T) and Hanwa Co Ltd to facilitate collaboration between the defence industries of both nations.

India successfully tested the 'Suryastra' Universal Rocket Launcher system at the Integrated Test Range in Chandipur, Odisha, on May 28, 2026.

Developed by Pune-based Nibe Limited in collaboration with Israel's Elbit Systems, the system is India's first indigenous universal multi-caliber rocket launcher. The system demonstrated exceptional precision during the trials, with its tactical and strategic variants hitting targets at ranges of 150 km and 300 km, respectively.

NIBE Ltd (NIBE Ltd) has successfully conducted trials of its Vayu Astra-1 Loitering Munition (LM), which features a 100-km operational range. The trials were conducted at Pokhran in Rajasthan and Joshimath (Malari) in Uttarakhand under the No-Cost, No-Commitment (NCNC) model.

The Vayu Astra-1 is based on an Israeli-designed loitering munition system developed in collaboration with Elbit Systems. Under the NCNC model, NIBE Ltd managed the technology, conducted the demonstrations, and bore all operational and technical validation costs.

Red Balloon Aerospace has launched “Mission SANA”, the first indigenous super-pressure platform of India carrying commercial payloads from 7 national and international partners.

The launch places India among only 5 nations globally, alongside the United States, France, Japan, and China, to possess indigenous stratospheric (hydrogen) balloon capability.

The VISTA super-pressure platform of the company ascended to an altitude of 25 km above Earth from the Indira Gandhi Stadium in Vijayawada, Andhra Pradesh. It is to be noted that Red Balloon Aerospace, established in 2025, achieved operational commercial flight within an 8-month timeframe.

The Department of Space (DoS) has approved the establishment of Common Technical Facilities (CTFs) in Gujarat and Tamil Nadu. The initiative aims to strengthen the space ecosystem of India by promoting domestic manufacturing capabilities and supporting the growth of the space sector industry base.

Under this, a Space Manufacturing Park will be established at Khoraj, Gujarat, while a Space Vehicles Cluster will be set up at Thoothukudi, TN.

Five outstanding female scientists have been honoured with the “UNESCO–L’Oréal International Awards for Women in Science 2026”, presented jointly by the UNESCO and the Fondation L’Oréal.

The laureates for 2026 include Professor Liesl Zühlke from South Africa, Professor Felice Jacka from Australia, Professor Sarah A Teichmann from the UK, Professor Raquel Chan from Argentina, and Professor Gordana Novakovic from the United States (US).

Vijay Shankar, an Indian all-rounder from Tamil Nadu, has announced his retirement from domestic cricket and the Indian Premier League (IPL). The decision was made to enable him to explore opportunities in various overseas cricket leagues.

Vice President CP Radhakrishnan has released a book titled “The Library Man of India: The Story of PN Panicker” in New Delhi.

The book is authored by PP Sathyan, published by Rupa Publications, and chronicles the life of PN Panicker, who is widely acknowledged as the ‘Father of the Library Movement’ in Kerala.

International Day of Light:

Day – May 16

Theme 2026 – “Light for a Sustainable Future”

Observed since – 2018

Commemorating – The anniversary of Theodore Maiman’s first successful laser operation in 1960

World Endangered Species Day:

Day – Third Friday in May (May 15 in 2026)

Theme 2026 – “Celebrating America’s Wildlife Comeback Stories. Championing the Endangered Species Act”

Observed since – 2006