5 May 2026 Current Affairs (With PDF)

We bring you the most relevant and important news updates from around the world and India, specially curated for competitive exams and different entrance exams. Today's Current Affairs cover all significant national and international headlines, legal updates, economic news, and environmental highlights to boost your preparation. With our crisp, to-the-point coverage, you can confidently tackle current affairs questions in your exams.

Super El Niño and India’s Monsoon Dynamics

Why in News

• The India Meteorological Department (IMD) has cautioned that a developing Super El Niño in the Pacific Ocean may weaken India’s southwest monsoon, raising concerns over rainfall, agriculture, and economic stability.

El Niño (ENSO Phase)

• El Niño is a climate phenomenon involving abnormal warming of the central and eastern Pacific Ocean.
• It occurs every 2–7 years as part of the broader El Nino Southern Oscillation (ENSO)

Super El Niño

• A more intense form of El Niño
• Defined by: Sea Surface Temperature (SST) anomaly > +2°C above normal
• Leads to stronger global climatic disruptions

Mechanism of El Niño

1. Weakening of Trade Winds

• Normally Easterly winds push warm water toward Southeast Asia
• During El Niño, Winds weaken or reverse: Warm water shifts toward the central/eastern Pacific

2. Bjerknes Feedback

• A positive feedback loop: Ocean warming → weaker winds → more warming
• Sustains El Niño conditions for months

3. Disruption of Walker Circulation

• The Walker Circulation shifts eastward
• Results in Reduced convection over India and Decline in monsoon rainfall

4. Global Teleconnections

• Atmospheric changes influence Monsoons, Storm tracks and Temperature patterns worldwide

Impact of Super El Niño on India

1. Weak Southwest Monsoon

• The southwest monsoon (June–September): Contributes ~70% of annual rainfall
• El Niño years: Often linked to below-normal rainfall: Historically, 7 out of 10 events led to weaker monsoons

2. Agricultural Stress

• Affects kharif crops during sowing season
• Impacts nearly 60% of farmers dependent on rainfed agriculture
• Risks Lower yields and Food security concerns

3. Water Resource Strain

• Reduced rainfall leads to Lower river flows and Poor groundwater recharge
• Affects Drinking water supply and Irrigation systems

4. Economic Consequences

• Drought-like conditions can trigger Food inflation and Rural distress
• Example: Severe impacts during the 2015–16 Super El Niño

5. Energy Sector Impact

• Decline in reservoir levels leads to Reduced hydropower generation
• Impacts energy availability

Lipulekh Pass and the India–Nepal–China Trijunction Issue

Why in News

• Nepal has raised objections to India–China plans to facilitate the Kailash Mansarovar Yatra via Lipulekh Pass, citing an ongoing territorial dispute.

About Lipulekh Pass

• A high-altitude Himalayan pass located at the tri-junction of India (Uttarakhand), Nepal, and Tibet (China).
• Strategically positioned in the western Himalayas.

Strategic Significance

1. Trade and Connectivity

• One of the earliest trade routes between India and China: Opened in 1992
• Other similar passes: Shipki La (1994) and Nathu La (2006)

2. Religious Importance

• Serves as a key route for the Kailash Mansarovar Yatra
• The pilgrimage route has been operational since 1954.

3. Military Relevance

• Holds strategic importance for border management and surveillance
• Enhances India’s connectivity to Tibet region

Nepal’s Territorial Claim

• Nepal claims: Lipulekh, Kalapani, Limpiyadhura
• Basis of Claim: Based on the Treaty of Sugauli
• Key Provision: Defines the Kali (Mahakali) River as Nepal’s western boundary
• Core Dispute: Disagreement over Origin/source of the Kali River. This leads to varying territorial interpretations by India and Nepal.

Geopolitical Implications

1. India–Nepal Relations

• Periodic tensions due to Border disputes and Infrastructure developments in contested areas

2. India–China Dynamics

• Lipulekh enhances Trade links and Strategic connectivity with Tibet

3. Strategic Sensitivity

• Tri-junction location makes it Geopolitically critical and Sensitive for regional stability

100% FDI in India’s Insurance Sector

Why in News

• The Ministry of Finance has notified 100% Foreign Direct Investment (FDI) in the insurance sector under the automatic route via amendments to FEMA rules.
• This follows the enactment of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which increased the FDI cap from 74% to 100%.

Key Provisions of the New Framework

1. Full FDI Allowed

• Foreign investors can now hold up to 100% stake in insurance companies
• Entry route: Automatic route (no prior government approval required)

2. Exception – LIC

• Foreign investment in Life Insurance Corporation of India remains capped at 20%

3. Coverage of Entities

• Applies to Insurance companies

4. Indian Management Requirement

• At least one key managerial position must be held by a Resident Indian citizen
• Applicable to Chairperson / Managing Director / CEO

Significance of 100% FDI

1. Enhancing Insurance Penetration

• India’s insurance penetration: ~4% of GDP (relatively low)
• FDI can expand reach to rural and underserved regions support the vision of “Insurance for All by 2047”

2. Increased Capital Inflows

• Full ownership attracts Global insurers and long-term investments
• Helps strengthen financial stability of insurance firms

3. Product Innovation

• Promotes development of Affordable health insurance, Cyber insurance, Specialised risk products
• Addresses emerging coverage gaps

4. Boost to Capital Markets

• Insurance funds act as Long-term institutional investors supports Infrastructure financing & Bond and equity markets

Key Concerns

1. Profit Repatriation

• Foreign firms may transfer profits abroad could limit Domestic reinvestment

2. Competitive Pressure

• Indian insurers, especially PSUs, may face intense competition from global players
• Risk of Market dominance by foreign firms

3. Data Privacy and Security

• Cross-border operations raise concerns over sensitive policyholder data
• Requires stronger data protection mechanisms

4. Regulatory Challenges

• Insurance Regulatory and Development Authority of India may face increased oversight burden and complexity in regulating global insurers

Fugitive Economic Offenders (FEOs) in India

Why in News

• The Enforcement Directorate (ED) has declared 21 individuals as Fugitive Economic Offenders (FEOs) over the past seven years, highlighting the use of legal tools to tackle economic offenders evading Indian jurisdiction.

What is a Fugitive Economic Offender (FEO)?

• A Fugitive Economic Offender is a person who has left India to avoid prosecution, or refuses to return to face trial
• Applicable for serious economic offences involving substantial financial value
• Legal Framework: Governed by the Fugitive Economic Offenders Act, 2018

Declaration Process

Who Initiates Action?

• A Director or Deputy Director (under the Prevention of Money Laundering Act, 2002) files an application before a Special Court.

Criteria for Declaration

To be declared an FEO, all three conditions must be met:

• Active Arrest Warrant: Issued for a scheduled offence
• Minimum Economic Threshold: Total value of offence ₹100 crore or more
• Evasion of Jurisdiction: Individual has left India, or refused to return for trial

Types of Offences Covered

• Money laundering, Tax evasion, Benami transactions, Corporate fraud, Currency counterfeiting , Cheque dishonour

Powers of Authorities

1. Role of Enforcement Directorate

• Primary agency responsible for Investigation, Tracing offenders and Provisional attachment of assets

2. Confiscation of Assets

• Special Court can confiscate proceeds of crime and also confiscate legitimate properties
• Notably This can occur before conviction

3. Burden of Proof

• Under the FEO Act, ED must prove that the individual qualifies as a fugitive
• Contrast Under PMLA, the accused must prove innocence of assets

Significance of the Law

1. Deterrence Against Economic Offenders

• Prevents high-value offenders from escaping legal accountability

2. Asset Recovery Mechanism

• Enables faster recovery of Illicit wealth and financial losses to the state

3. Strengthening Financial Governance

• Enhances Transparency and Rule of law in economic offences

Challenges

1. International Cooperation

• Extradition depends on Bilateral treaties and Diplomatic processes

2. Legal Complexities

• Appeals and litigation can delay confiscation proceedings

3. Enforcement Limitations

• Tracking global assets and offenders remains operationally challenging

Mission Drishti: World’s First OptoSAR Earth Observation Satellite

Why in News

• Mission Drishti, developed by GalaxEye, has been launched aboard a SpaceX Falcon 9 rocket, marking a major advancement in Earth observation technology.

What is Mission Drishti?

• It is the world’s first OptoSAR satellite, integrating Electro-Optical imaging (visual spectrum) and Synthetic Aperture Radar (SAR) (microwave imaging)
• Enables: All-weather, day-and-night Earth observation on a single platform

Key Features

1. OptoSAR Technology

• Combines High-resolution optical imagery and Radar-based imaging through clouds and darkness
• Advantage: Continuous and reliable Earth monitoring

2. AI-Powered Onboard Processing

• Equipped with NVIDIA Jetson Orin
• Enables Real-time data processing in orbit and Reduced dependence on ground stations

3. High Operational Efficiency

• Faster data delivery and enhanced accuracy in terrain and object detection

Applications

1. Defence and Security

• Border surveillance, Maritime monitoring and Detection of covert activities

2. Disaster Management

• Real-time assessment of Floods, Cyclones and Earthquakes enables faster rescue and relief operations

3. Agriculture

• Crop health monitoring, Soil moisture analysis and Precision farming support

4. Infrastructure and Urban Planning

• Monitoring Roads, railways, and construction projects helps in Smart city planning and development

INS Mahendragiri: Advanced Stealth Frigate of Indian Navy

Why in News

• The Indian Navy has inducted INS Mahendragiri, the sixth stealth frigate under Project 17A, strengthening India’s maritime combat capabilities.

About INS Mahendragiri

• Class: Nilgiri-class stealth frigate
• Project: Part of Project 17A
• Built by: Mazagon Dock Shipbuilders Limited
• Indigenous content: ~75%, reflecting strong domestic defence manufacturing

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