Daily Current Affairs – 03-05-2026

States’ News

Re-polling in West Bengal Constituencies

On May 2, re-polling was conducted in 15 polling booths in the state of West Bengal following directions from the Election Commission of India. The re-poll was held in booths under the Magrahat West Assembly Constituency located in the South 24 Parganas District, after the completion of elections to the 294-member West Bengal Legislative Assembly, which were conducted in two phases. Polling recorded a turnout of 86.90% till 5 PM. Meanwhile, the Election Commission ordered re-polling in all 285 polling booths of the Falta Assembly Constituency in the same district on May 21, citing serious electoral malpractices and disruption of evidence. The counting of votes for this constituency is scheduled on May 24.

Tamil Nadu News

Tamil Nadu Assembly Elections Voting Data

The Election Commission of India officially announced on May 2 that a total of 4,87,98,833 voters cast their votes in the Tamil Nadu Legislative Assembly Elections, representing 85.10% voter turnout. The polling was conducted on April 23 across 234 constituencies. A total of 5,67,07,380 voters were eligible, including 2,77,38,925 male voters, 2,89,60,838 female voters, and 7,617 third gender voters. Among them, 2,35,34,720 male voters, 2,52,59,596 female voters, and 4,517 third gender voters participated. In Kolathur constituency, where Chief Minister M.K. Stalin contested, the turnout was 86.12%. In Chepauk-Triplicane constituency, contested by Deputy Chief Minister Udhayanidhi Stalin, the turnout was 84.28%. In Edappadi constituency, where AIADMK General Secretary Edappadi K. Palaniswami contested, the turnout was 92.08%. In Perambur constituency, contested by TVK Leader Vijay, the turnout was 89.74%, while in Trichy East, also contested by him, the turnout was 81.77%. In Karaikudi constituency, contested by Naam Tamilar Katchi Chief Coordinator Seeman, voting data was recorded.

The highest number of female voters, 2,26,977, was recorded in Sholinganallur constituency.

Personalities, Awards and Events

Educationist Dr. Meena Muthiah Passes Away

Educationist Chettinad Kumararani Dr. Meena Muthiah (91) passed away on May 2 in Ooty. She was the granddaughter of Raja Sir Annamalai Chettiar, daughter-in-law of Raja Sir Muthiah Chettiar, and wife of Kumararaja Muthiah Chettiar. After her husband’s demise, she engaged in public service and founded Chettinad Vidyashram School in 1986. She served as secretary and administrator in institutions such as Rani Meyyammai Girls Higher Secondary School and Kumararani Dr. Meena Muthiah College of Arts and Science, and held key roles in various social welfare organizations. She played an important role in the revival of Thanjavur Painting and trained over 300 students through the Kumararani Muthiah School of Arts and Crafts. She obtained a doctorate for research on the origin and development of Thanjavur painting and authored a book on world art. For her contributions, she received the ‘Living Craft Treasure Award (2016–17)’ from the Government of Tamil Nadu, an Honorary Doctorate from Periyar Maniammai University, and Lifetime Achievement Awards from various cultural organizations.

Prasoon Joshi Appointed Chairman of Prasar Bharati

Union Ministry of Information and Broadcasting appointed Prasoon Joshi, a noted lyricist and writer, as the Chairman of Prasar Bharati, which oversees All India Radio and Doordarshan. Prior to this appointment, he served as the Chairman of the Central Board of Film Certification (CBFC) in Mumbai from August 2017. He has also worked as the CEO of McCann Worldgroup India and as Chairman of McCann Asia Pacific. Since 2016, he has been a trustee of the Indira Gandhi National Centre for the Arts (IGNCA). He has been writing lyrics for Hindi films since 2001 and is also a screenwriter.

Rohit Jain Appointed RBI Deputy Governor

The Appointments Committee of the Cabinet approved the appointment of Rohit Jain as Deputy Governor of the Reserve Bank of India (RBI) for a period of three years. His appointment will take effect from the date of joining or from May 3, 2026. He is currently serving as an Executive Director in RBI and oversees the Department of Supervision (Supervisory Assessment). He will succeed T. Rabi Sankar, who has been serving as Deputy Governor since May 3, 2021. Other Deputy Governors of RBI include Swaminathan J, Poonam Gupta, and Shirish Chandra Murumu.

National News

Supreme Court on Election Commission Powers

The Supreme Court of India held that the Election Commission of India has the authority to select officials for vote-counting duties and stated that no further orders were required in this matter. The judgment was delivered by a bench comprising Justice P.S. Narasimha and Justice Joymalya Bagchi, while concluding the hearing on a petition filed by the Trinamool Congress against an Election Commission circular. The circular directed District Election Officers (District Collectors) to deploy Central Government or Public Sector Undertaking employees as counting supervisors during the West Bengal Legislative Assembly elections. The Calcutta High Court had earlier dismissed the petition, stating that there was no illegality in appointing Central Government employees instead of State Government employees for counting work. The Supreme Court upheld the authority of the Election Commission, stating that it can decide whether to appoint Central or State Government employees for counting duties, as per its established procedures.

100% FDI in Insurance Sector Approved

Union Finance Ministry issued an official notification allowing 100% Foreign Direct Investment (FDI) in the insurance sector without prior approval from the Central Government or the Reserve Bank of India (RBI). As per the Foreign Exchange Management (Second Amendment) Regulations, 2026, while 100% FDI is permitted in insurance companies, investment in the Life Insurance Corporation (LIC) is limited to 20%. Earlier, up to 74% FDI was allowed without prior approval. The limit was increased to 100% after the passage of the Bima Shakti Raksha (Insurance Laws Amendment) Bill by Parliament in December, which came into effect after receiving the President’s assent.

Mobile-Based Emergency Alert System Introduced

Union Ministry of Communications introduced a mobile-based emergency alert system to provide early warnings to citizens about emergencies and natural disasters across India. The system sends alert messages with a distinct alarm sound to mobile phones of all telecom users, except in states where Legislative Assembly elections were being held. Awareness about this system was issued on April 29. The alert messages were sent on a trial basis using indigenous technology through cell broadcast technology, which enables simultaneous transmission of messages to all mobile devices within a specific area. The system was launched by Union Minister for Communications Jyotiraditya Scindia.

Jaishankar’s 9-Day Caribbean Visit

External Affairs Minister S. Jaishankar began a 9-day official visit to the Caribbean countries of Jamaica, Suriname, and Trinidad and Tobago, scheduled from May 2 to May 10, as announced by the Ministry of External Affairs, India. The visit aims to strengthen bilateral relations and enhance political and South-South cooperation between India and these nations. During the visit, the Minister will meet the leaders of Jamaica, Suriname, and Trinidad and Tobago and discuss regional and international issues. He will also interact with the Indian diaspora and business community in these countries, where India maintains long-standing ties due to the presence of people of Indian origin.

Two Full-Time Members Appointed to NITI Aayog

Central Government appointed Joram Aniya and R. Balasubramaniam as full-time members of NITI Aayog, increasing the total number of members to seven, including the Vice-Chairman. The Prime Minister Narendra Modi serves as the Chairman of NITI Aayog. Joram Aniya, an academician, associate professor, and member of the Arunachal Pradesh Private Educational Regulatory Commission, has over 18 years of experience in teaching, research, and public policy. R. Balasubramaniam is a scholar-author, public policy expert, and development activist.

Enforcement Directorate Completes 70 Years

The Enforcement Directorate (ED), functioning under the Central Government, completed its 70th Raising Day in New Delhi, where Union Minister of State for Finance Pankaj Chaudhary, Revenue Secretary Arvind Srivastava, Additional Solicitor General S.V. Raju, and ED Director Rahul Navin participated. As per the report, the ED focuses on bank frauds, corporate irregularities, and real estate scams, and has expanded its approach to tackle crypto fraud, cybercrime, terror funding, and drug trafficking. In the 2025–26 financial year, the ED filed 812 charge sheets, including 155 supplementary complaints, which is double the previous year. The conviction rate stands at 94%, with about 2,400 cases pending in courts. So far, illegal assets worth ₹2,36,017 crore have been frozen, and ₹81,422 crore worth of assets were seized in the last financial year, marking a 170% increase. The ED has returned ₹63,142 crore to affected parties, including ₹15,581 crore in the PACL Limited case. Under the Fugitive Economic Offenders Act (FEOA), action has been initiated against 54 individuals, of whom 21 have been declared fugitive offenders, and assets worth ₹2,178 crore have been seized.

Reconstitution of Parliamentary Committees 2026–27

Lok Sabha Speaker Om Birla announced the reconstitution of four key Parliamentary Committees for the 2026–27 term, namely the Public Accounts Committee (PAC), Estimates Committee, Committee on Public Undertakings, and the Committee on the Welfare of Scheduled Castes (SCs) and Scheduled Tribes (STs). KC Venugopal, Congress MP, was reappointed as the Chairperson of the Public Accounts Committee. The new term of these committees runs from May 1, 2026 to April 30, 2027, following the expiry of the previous term on April 30. Faggan Singh Kulaste continues as Chairperson of the SC/ST Welfare Committee, while Baijayant Jay Panda and Sanjay Jaiswal continue as Chairpersons of the Committee on Public Undertakings and another Parliamentary panel respectively. The Public Accounts Committee has 22 members (15 from Lok Sabha and 7 from Rajya Sabha) and functions under Rule 308(1) of the Lok Sabha Rules. The Estimates Committee consists of 30 members elected from Lok Sabha, the Public Undertakings Committee has 22 members, and the SC/ST Welfare Committee has 30 members (20 from Lok Sabha and 10 from Rajya Sabha).

India’s First Portable Bedside MRI Introduced at AIIMS

AIIMS New Delhi introduced India’s first Portable Bedside MRI system on May 2, marking a significant development in critical care and neurodiagnostics. This device can be moved directly to the patient’s bedside, enabling rapid brain imaging in ICUs, emergency units, and neurosurgical wards without shifting patients. The system reduces risks associated with transporting critically ill patients and supports quicker diagnosis. It is already in use under Dr. Shailesh Gaikwad at the Center for Neurological Conditions. The technology is useful for diagnosing and monitoring conditions such as stroke, trauma, and pediatric neurological disorders. Portable MRI systems are already in use in countries such as the USA, Canada, Australia, UK, New Zealand, and European nations, and this marks its first introduction in India.

Largest Underwater National Flag Unfurled in Andaman

The Andaman and Nicobar Administration created a Guinness World Record by unfurling the world’s largest underwater national flag at Radhanagar Beach in the Andaman Sea. The tricolour measured approximately 60 × 40 metres and was installed underwater through a coordinated operation involving the Andaman and Nicobar Police, Forest Department, Indian Navy, and Coast Guard, along with professional scuba divers at Swaraj Dweep (Havelock Island). More than 200 divers participated in the event, including the youngest participants Fateh Jahaan Singh (16), Lavanya Eira (15), and Ranvijay Singh (14).

Economy News

FDI Norm Relaxation for Companies with Chinese Stake

Union Finance Ministry announced amendments to the Foreign Exchange Management Act (FEMA) rules, allowing foreign companies with up to 10% shareholding by investors from China and Hong Kong to invest directly in India without prior approval from the Central Government or the Reserve Bank of India (RBI), with the rule coming into effect from May 1. Earlier, any foreign company with even minimal shareholding from countries sharing land borders with India required prior approval for investment. The revised rules clarify that this relaxation applies only to companies not registered in China, Hong Kong, or other land-border sharing countries, while such registered companies still require approval. Countries sharing land borders with India include China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan.

Sports News

Marta Kostyuk Wins Madrid Open Title

Ukrainian tennis player Marta Kostyuk won the women’s singles title at the Madrid Open Tennis Tournament, defeating Russia’s Mirra Andreeva in the final held in Madrid. This victory marked her first WTA 1000 title. Kostyuk, ranked World No. 23, won the match with set scores of 6-3, 7-5. She also became the second player to win a WTA 1000 title from outside the top 20 rankings.

International News

Spirit Airlines Shuts Down Operations

US-based budget carrier Spirit Airlines officially suspended its operations after nearly 34 years of service due to a financial crisis. The closure led to the cancellation of hundreds of flights worldwide. The airline reported losses of about $250 crore since 2020 and is currently burdened with a debt of $810 crore. It had been declared bankrupt twice earlier. The financial strain was attributed to continued losses after the COVID-19 pandemic and rising aviation fuel prices linked to the Iran war. The company, which had around 17,000 employees, did not accept the nationalization proposal by the Trump administration, and the government bailout plan failed.

Reports and Indices

IMF Report on Digitalisation and MSME Productivity in India

The International Monetary Fund (IMF) in a study reported that digitalisation reforms in public administration have improved the productivity of Micro, Small and Medium Enterprises (MSMEs) in India, particularly in states that adopted such reforms. The study by Somnath Sharma and Kenichi Ueda compared unincorporated manufacturing firms across states and found higher productivity growth and lower productivity variation in states with greater digital reforms. MSMEs contribute about 35% of India’s manufacturing output, employ around 110 million people, and account for nearly 45% of exports. Most MSMEs are not formally registered under the Companies Act, 1956. The report noted that business environment reforms between 2010–11 and 2014–15 were mainly driven by digitalisation, reducing bureaucratic costs especially for small firms, though micro enterprises showed limited expansion across states.

Important Days

World Press Freedom Day - May 3

May 3 is observed as World Press Freedom Day, declared by the United Nations (UN) to emphasize the importance of freedom of the press and to remind governments to uphold the right to freedom of expression. The day highlights the role of a free and independent media in a democratic society.