General
Daily Current Affairs: May 12, 2026
By Exam Atlas ยท 5/12/2026
RBI and ECB Sign MoU for Central Banking Cooperation
- In May 2026, the Reserve Bank of India (RBI) and the European Central Bank (ECB) signed a Memorandum of Understanding.
- The agreement was officially signed by RBI Governor Dr. Sanjay Malhotra and ECB President Christine Lagarde.
- It was executed on the sidelines of the Bank for International Settlements (BIS) meetings held in Basel, Switzerland.
- The primary objective is to significantly enhance cross-border cooperation in the field of central banking.
- ๐ The Reserve Bank of India was established on 1 April 1935 under the RBI Act, 1934.
C. Joseph Vijay Sworn In as 13th Chief Minister of Tamil Nadu
- In May 2026, C. Joseph Vijay was officially sworn in as the 13th Chief Minister of Tamil Nadu.
- He successfully won from the Perambur constituency and officially succeeded outgoing CM M. K. Stalin.
- He is the founder of the prominent regional political party Tamilaga Vettri Kazhagam (TVK).
- His victory marks a major shift in the political landscape of Tamil Nadu state politics.
- ๐ Article 164 of the Indian Constitution states that the Chief Minister is appointed by the Governor.
SBI Projects India's Q4FY26 GDP Growth at 7.2%
- The State Bank of India (SBI) released its widely tracked latest Ecowrap Research report in May 2026.
- It projected India's real Gross Domestic Product (GDP) to reach 7.2% in the 4th Quarter (Q4) of FY26.
- This projection is marginally lower than the advanced estimate of 7.3% forecasted in February 2026.
- The revision reflects ongoing market adjustments and global economic fluctuations impacting domestic economic growth.
- ๐ The State Bank of India (SBI) was established on 1 July 1955.
AIFF & Odisha Govt Renew Football Development MoU
- The All India Football Federation (AIFF) and the Government of Odisha signed a renewed five-year MoU.
- The agreement was formalised with the Department of Sports and Youth Services (DSYS) of Odisha.
- It aims to sustain and expand their elite youth football development partnership.
- This collaboration will foster grassroots talent and build stronger competitive sports infrastructure in India.
- ๐ The Kalinga Stadium, a world-class multi-purpose sports facility, is situated in Bhubaneswar, Odisha.
PM Modi Lays Foundation for NH-167 Four-Laning in Telangana
- PM Narendra Modi laid the foundation stone for the four-laning of National Highway-167 (NH-167) in Telangana.
- The project connects Gudebellur to Mahabubnagar under the strategic Hyderabad-Panaji Economic Corridor.
- The total cost of this extensive highway development project exceeds Rs 3,175 crore.
- He also dedicated the IOCL Malkapur Terminal Project and Sindhu Hospital in Hyderabad.
- ๐ The National Highways Authority of India (NHAI) was constituted by an Act of Parliament in 1988.
Sahil Jadhav Wins Bronze at Archery World Cup
- Indian archer Sahil Jadhav won the bronze medal in the Men's Individual Compound event.
- He defeated Denmark's Martin Damsbo by a close margin of 147-144 points.
- This victory secured his very first career medal at the prestigious Archery World Cup.
- The achievement further highlights India's rising dominance in international compound archery competitions.
- ๐ The World Archery Federation (WA) is headquartered in Lausanne, Switzerland.
Delhi Metro Partners with Airtel Payments Bank
- The Delhi Metro Rail Corporation (DMRC) partnered with Airtel Payments Bank to improve commuting.
- They collaboratively launched the innovative RuPay 'On-The-Go' smart transit cards for passengers.
- These specific cards enable seamless travel payments alongside convenient everyday retail transactions.
- The initiative significantly bolsters the Digital India campaign by promoting cashless automated payments.
- ๐ The Delhi Metro network officially commenced its commercial operations on 24 December 2002.
National Panchayat Awards 2025 Announced; Karnataka Tops
- The esteemed National Panchayat Awards 2025 officially recognised a total of 42 Panchayats across India.
- The state of Karnataka topped the overall national tally by securing 6 prestigious awards.
- These awards honour outstanding grassroots contributions toward sustainable rural governance and holistic development.
- The evaluations are based on stringent localization metrics mapping to the Sustainable Development Goals (SDGs).
- ๐ National Panchayati Raj Day is observed annually on 24 April across India.
Suvendu Adhikari Sworn-in as 9th CM of West Bengal
- Suvendu Adhikari was sworn in as the 9th Chief Minister of West Bengal.
- He scripted history by becoming the very first Bharatiya Janata Party (BJP) Chief Minister in the state.
- His ascension marks a monumental political transition, ending decades of rule by opposing parties.
- The swearing-in ceremony was held amid massive political fanfare in Kolkata.
- ๐ Article 164 governs the appointment of a state's Chief Minister by the respective Governor.
SAIL Appoints Ashok Kumar Panda as New CMD
- Ashok Kumar Panda was officially appointed as the new Chairman and Managing Director (CMD).
- He will be leading the Steel Authority of India Limited (SAIL) following this crucial appointment.
- His vast expertise in the steel sector is expected to accelerate SAIL's production targets.
- He succeeds the previous administration to steer the major public sector undertaking into new markets.
- ๐ SAIL is a Maharatna Central Public Sector Enterprise established in the year 1954.
Indian Coast Guard Commissions Indigenous FPV 'ICGS ACHAL'
- The Indian Coast Guard (ICG) proudly commissioned the indigenous Fast Patrol Vessel (FPV).
- The highly advanced vessel named 'ICGS ACHAL' was inducted into service in Goa.
- It is equipped with state-of-the-art navigation and heavily boosts India's coastal surveillance capabilities.
- The ship strongly aligns with the government's visionary Aatmanirbhar Bharat initiative in defence production.
- ๐ The Indian Coast Guard was formally established on 18 August 1978 under the Coast Guard Act.
DRDO Conducts 1,200-Second Scramjet Combustor Test
- The Defence Research and Development Organisation (DRDO) successfully conducted a critical propulsion test.
- They operated a Scramjet Combustor for a record-breaking duration of 1,200 seconds.
- This monumental technological milestone was successfully achieved at a specialized facility in Hyderabad, Telangana.
- It paves the way for indigenously developed hypersonic cruise missiles and advanced spacecraft.
- ๐ The Defence Research and Development Organisation (DRDO) was established in 1958, headquartered in New Delhi.
India Women's Recurve Team Wins Gold at Archery World Cup
- The India Women's Recurve Team showcased an extraordinary performance to secure the Gold medal.
- The victory occurred at the highly competitive Shanghai Hyundai Archery World Cup Stage 2.
- Their remarkable precision firmly established India as a supreme powerhouse in world archery.
- The team overcame formidable international opponents to clinch the prestigious top podium finish.
- ๐ The Hyundai Archery World Cup is a premier tournament organised by the World Archery Federation.
Himanta Biswa Sarma Takes Oath in Assam
- Himanta Biswa Sarma was officially sworn in for his second consecutive term on 12 May 2026.
- He became the very first non-Congress Chief Minister of Assam to achieve this feat.
- He serves as a prominent leader of the Bharatiya Janata Party (BJP) in the state.
- The only other non-Congress CM with two non-consecutive terms was Prafulla Kumar Mahanta (AGP).
- ๐ Assam is famous globally for the Kaziranga National Park, a UNESCO World Heritage Site.
Australian Tennis Legend Mal Anderson Passes Away
- Legendary Australian tennis player Mal Anderson passed away peacefully at the age of 91.
- He was a highly respected athlete who reached a career-high ranking of World No. 2.
- He remained a leading figure in global tennis throughout the 1950s and 1970s.
- His remarkable contributions to the sport have left an enduring legacy in international tennis.
- ๐ Mal Anderson won the prestigious US National Championships Men's Singles title in 1957.