01st-02nd June 2026

1. SEBI’s NISM Partners with Galgotias University to Expand Industry-Aligned Financial Education
2. Bajaj Finserv Partners with IIT-B to Launch ‘Finserv Intelligence’ for AI & Deep-Tech Research
3. TN Farmer Valluvan Honoured as ‘FAO Soil Farmer Hero’ for Sustainable Agriculture Practices
4. Senior Congress Leader and Former Kerala MP, K. P. Dhanapalan Passed Away
5. International Week of Solidarity with the Peoples of Non-Self-Governing Territories 2026 – 25 to 31 May
6. India Signs BrahMos Missile Deal with Vietnam, Indonesia Agreement Nears Completion
7. GST Revenue Hits ₹1.94 Lakh Crore in May 2026 on Strong Domestic Demand
8. UPI Hits Record High in May 2026 with ₹29.90 Trillion Worth Transactions
9. Vice Admiral Sanjay Vatsayan Takes Charge as Chief of Western Naval Command
10. Admiral Krishna Swaminathan Takes Charge as 27th Chief of Naval Staff
11. India Signs USD 629 Million BrahMos Missile Export Deal with Vietnam to Strengthen Defence Cooperation
12. Australia, UK, and USA Launches Underwater Drone Programme to Advance Maritime Defence Capabilities
13. Karur Vysya Bank Launches 4 Premium Credit Card Variants on Visa Platform
14. India Receives Two Labbaytum Excellence Awards for Outstanding Haj Coordination and Communication
15. DRDO Successfully Conducts High-Calibre Bomb Trial at TBRL Facility
16. Veteran Singer and Padma Bhushan Awardee Suman Kalyanpur Passed Away
17. Hindi Journalism Day 2026 – May 30
18. Global Day of Parents 2026 – June 1
19. Satwik-Chirag Create History, Win Singapore Open 2026 Men’s Doubles Title
20. What Is a Bambi Bucket? How the Indian Air Force Fought the Kasauli Forest Fire
21. Telangana Formation Day 2026: History, Significance, Statehood Movement and Celebrations

State News

Telangana Celebrates State Formation Day in Hyderabad

• What: Telangana celebrated its official Formation Day on June 2, 2026, marking exactly 12 years since the territory legally separated to become the 29th state of India in 2014.
• Tell me more:
  • At present, there are 28 states and 8 Union Territories in India after reorganization of J&K territory into UT of J&K and Ladakh.
  • Chief Minister (CM) – A. Revanth Reddy

International News

AUKUS Partners to Develop Unmanned Undersea Vehicles

• What: The United States, UK, and Australia (AUKUS) are developing unmanned undersea vehicles (UUVs) as part of their trilateral defense pact to improve reconnaissance, strike capabilities, and maritime superiority.
• Tell me more:
  • United States (U.S.) Secretary of Defense Pete Hegseth announced the project on the sidelines of the Shangri-La Dialogue in Singapore.
  • The three countries formed the Australia, United Kingdom, and United States (AUKUS) defense partnership in 2021 to handle growing geopolitical power in the Indo-Pacific region.
  • Under AUKUS parternship, Australia, the UK, and the US will jointly develop advanced autonomous undersea drones from 2027 to enhance underwater warfare, surveillance, and protection of critical infrastructure such as cables and pipelines.

Banking and Economy

NISM Partners with Galgotias University for Financial Learning

• What: The National Institute of Securities Markets (NISM) collaborated with Galgotias University to strengthen professional learning opportunities in securities markets, financial services, derivatives, investment ecosystems, fintech, and risk management.
• Tell me more:
  • Galgotias University’s School of Finance and Commerce houses the Centre for Capital Market Simulation, featuring the NSE SMART Lab developed with NSE Academy, where students use the NSMART platform to practice trading in real-time market scenarios.
  • The National Institute of Securities Markets (NISM), established by SEBI in 2006, is a public trust that enhances the quality and capacity of India’s securities markets through training, education, certification, and skill-development initiatives.

Bajaj Finserv Launches Finserv Intelligence with IIT Bombay

• Bajaj Finserv launched Finserv Intelligence in partnership with the Indian Institute of Technology Bombay (IIT Bombay) to advance AI, cybersecurity, quantum technologies, and deep-tech innovation, investing ₹1,500–2,000 crore in startups and research over five years.

India Gross GST Collections Rise in May

• What: Official economic data released on Monday showed that India’s gross Goods and Services Tax (GST) collections increased by 3.2% year-on-year to ₹1.94 lakh crore in May 2026.
• Tell me more:
  • Net GST collections reached ₹1.67 lakh crore during the month, which marks a 3.3% increase compared to the same period last year.

India UPI Transactions Hit Record High in May

• What: The National Payments Corporation of India (NPCI) released monthly data showing that Unified Payments Interface (UPI) transactions achieved record-breaking volume and value figures during May 2026.
• Tell me more:
  • UPI recorded its highest-ever monthly performance since launch in April 2016, with transaction volume rising to 23.20 billion and transaction value increasing to ₹29.90 trillion in May 2026.

Karur Vysya Bank Launches Premium Credit Cards

• What: Karur Vysya Bank (KVB) launched a new premium credit card range with four Visa cards designed for customers seeking shopping, dining, travel, and lifestyle benefits.
• Tell me more:
  • The portfolio includes four variants: Aura (Visa Platinum), Samara (Visa Signature), Altura (Visa Infinite), and Eternis (Visa Infinite).
  • Aura offers online shopping rewards, Samara provides dining and shopping memberships, Altura focuses on travel benefits with zero forex markup, and Eternis offers premium lifestyle benefits, higher rewards, and Club Marriott membership.

Defence News

India Signs BrahMos Missile Deal with Vietnam

• What: India’s Defence Secretary Rajesh Kumar Singh announced that India signed a deal to supply BrahMos missiles to Vietnam for approx. USD 629 Million and entered final stages for a similar deal with Indonesia.
• Tell me more:
  • India jointly developed these supersonic cruise missiles with Russia.
  • The Defence Secretary shared this update at Asia’s premier defence forum, the Shangri-La Dialogue, Singapore.
  • Reflecting its strong commitment to ASEAN, India has exported BrahMos missiles to the Philippines and signed a new agreement with Vietnam that includes training and logistical support.
• Knowledge Nuggets:
  • International Institute for Strategic Studies, a premier global think tank headquartered in London, hosts the prestigious Shangri-La Dialogue in Singapore. It is Asia’s premier defence forum.

DRDO Successfully Tests High Calibre Bomb in Haryana

• What: The Terminal Ballistics Research Laboratory (TBRL), a facility of the Defence Research and Development Organisation (DRDO), located in Ramgarh in Haryana’s Panchkula district, successfully tested a high-calibre bomb in Ramgarh to support future weapons development programmes.
• Tell me more:
  • It will help India test and improve bombs, warheads, and ammunition, making weapons more accurate, effective, and reliable in combat while enhancing the armed forces’ precision-strike and battlefield capabilities.

Awards

Tamil Nadu Farmer Named UN Soil Hero

• What: The United Nations Food and Agriculture Organization (UN FAO) recognized a Tamil Nadu farmer named Valluvan as a Soil Farmer Hero after he transformed his 11-hectare farm into a highly profitable multi-crop enterprise.
• Tell me more:
  • In 2009, Valluvan adopted tree-based multi-crop farming through the Isha Foundation’s Cauvery Calling programme, led by Project Director Anand Ethirajalu, which promotes diversified farming as an economic safeguard for farmers.
  • This project increased his farm income from ₹30,000 to ₹2.5–3 lakh per acre, improved soil health, reduced water use, and enhanced climate resilience.

Indian Haj Mission Wins Two Prestigious Awards

• What: The Indian Haj Mission won two prestigious Labbaytum Awards for the Best Haj Coordination and Communication category at the Khitamahu Misk ceremony in Saudi Arabia, marking a historic first for the country.
• Tell me more:
  • India’s Ambassador to Saudi Arabia: Dr. Suhel Ajaz Khan
  • Consul General of India in Jeddah: Fahad Ahmed Khan Suri

Important Days

International Week of Solidarity with the Peoples of Non-Self-Governing Territories 2026 – May 25 to 31

Hindi Journalism Day 2026 – May 30

Global Day of Parents 2026 – June 1

• 2026 Theme: Together for Parents
• The United Nations General Assembly proclaimed 1994 as the International Year of the Family and later designated 15 May as the annual International Day of Families.
• In 2012, the United Nations General Assembly proclaimed 1 June as the annual Global Day of Parents to honour parents worldwide.

Sports

Satwiksairaj Rankireddy and Chirag Shetty Win Singapore Open (Badminton)

• What: Indian badminton players Satwiksairaj Rankireddy and Chirag Shetty won the men’s doubles title at the Singapore Badminton Open 2026 to end their two-year title drought on the Badminton World Federation (BWF) World Tour.
• Tell me more:
  • The Indian pair currently holds the fourth position in the global men’s doubles badminton rankings.
  • They defeated the world number three Indonesian pair of Fajar Alfian and Muhammad Shohibul Fikri in a final match lasting 73 minutes.
  • The duo became the first-ever doubles team from India to win this specific tournament.
  • Previous Indian winners Saina Nehwal, PV Sindhu, and B Sai Praneeth won their respective titles in the singles category.
  • India’s only other BWF World Tour title this year came through Devika Sihag at the Thailand Masters Super 300, while PV Sindhu and Lakshya Sen exited this tournament in the quarter-finals against An Se-young and Koki Watanabe respectively.
  • The national team will compete next week at the Indonesia Open, which operates as a BWF Super 1000 tournament.

Appointments

Sanjay Vatsayan Takes Charge of Western Naval Command

• What: Vice Admiral Sanjay Vatsayan assumed charge as the Flag Officer Commanding-in-Chief of the Western Naval Command (WNC) during a ceremonial parade held in Mumbai.
• Tell me more:
  • Immediately before this appointment, he served as the 47th Vice Chief of the Naval Staff and he has been awarded the Param Vishisht Seva Medal (PVSM), Ati Vishisht Seva Medal (AVSM), and Nao Sena Medal (NM) for distinguished service.

Miscellaneous

Former Lok Sabha Member K P Dhanapalan Passes Away

• Senior Congress leader and former Lok Sabha (LS) member K P Dhanapalan passed away.

Legendary Playback Singer Suman Kalyanpur Passes Away

• What: Prime Minister (PM) Narendra Modi and Maharashtra Chief Minister (CM) Devendra Fadnavis mourned the passing of the legendary playback singer Suman Kalyanpur.
• Tell me more:
  • The veteran playback singer enriched Indian music for over six decades through timeless songs in Marathi, Hindi, Bengali, and Odia. Her outstanding contribution to Indian music earned her the prestigious Padma Bhushan award.

Indian Air Force Extinguishes Kasauli Forest Fire

• The Indian Air Force used Mi-17 and Chinook helicopters with Bambi Buckets to control a major Kasauli forest fire.
• Bambi Buckets are large, collapsible water containers suspended beneath helicopters by cables and used for aerial firefighting. They quickly collect water from nearby lakes, rivers, or reservoirs and drop thousands of litres over forest fires, especially in difficult-to-reach areas.

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