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Daily Current Affairs: 2 May 2026

Current affairs of 2 May 2026: Special 301 Report 2026: India Stays on Priority Watch List; Asia University Rankings 2026: IISc Slips to 43rd; PM E-DRIVE: E-Bus Allocation, E-Vouchers and FAME-II Contrast, and 12 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)May 2026
15 TOPICSDaily CurrentAffairs2 May 2026In focus: Special 301 Report 2026: India Stays on…safalsetu.com

In this issue: 15 topics

National Affairs

  1. Ishank Singh, 7, Youngest Palk Strait Swimmer
  2. PM Modi in Varanasi: ₹6,350 Cr Projects, Ganga Expressway
  3. NRAI 75th Anniversary: Mandaviya Launches MyNRAI Athlete App
  4. NITI Aayog Gets Two New Full-Time Members

Government Schemes

  1. PM E-DRIVE: E-Bus Allocation, E-Vouchers and FAME-II Contrast
  2. Namo Stall Scheme Launched in Ranchi for Street Vendors

Banking & Finance

  1. Tata Sons CIC Deregistration: InGovern Asks RBI to Refuse
  2. Rohit Jain Appointed RBI Deputy Governor for Three Years

International Affairs

  1. BRICS MENA Meeting 2026 Held in New Delhi
  2. World Tuna Day 2026: 2 May and Sustainable Tuna Stocks

Agriculture & Rural

  1. SMAM: Farm Mechanisation Mission for Small Farmers

Environment & Ecology

  1. People’s Biodiversity Register: Local Records of Nature

Defence & Security

  1. Operation Sadbhavana: Army’s Civic Outreach in J&K and Ladakh

Reports & Indexes

  1. Special 301 Report 2026: India Stays on Priority Watch List
  2. Asia University Rankings 2026: IISc Slips to 43rd

National Affairs

Government Schemes

Economy

5. PM E-DRIVE: E-Bus Allocation, E-Vouchers and FAME-II Contrast

  • All 14,028 electric buses sanctioned under PM E-DRIVE have been tendered and allocated, and a follow-on e-bus scheme is under thought.
  • PM E-DRIVE began on 1 October 2024 as FAME-II's successor, aiming at 30% EV penetration by 2030.
  • Subsidy reaches buyers through an Aadhaar-authenticated e-voucher; electric cars are left out and rely on the 5% GST rate.
  • Per-kWh incentive falls from ₹5,000 in FY25 to ₹2,500 in FY26.
Full notes and 3 MCQs ›

Banking & Finance

Economy

7. Tata Sons CIC Deregistration: InGovern Asks RBI to Refuse

  • InGovern Research Services urged RBI to reject Tata Sons' application to deregister as a Core Investment Company.
  • Rejection would push the $165 billion Tata Group's holding company towards an IPO by the March 2027 deadline.
  • A CIC must hold at least 90% of net assets in group companies, with at least 60% in group equity shares.
  • RBI classed Tata Sons as NBFC-Upper Layer in September 2022; Upper Layer NBFCs must list under scale-based regulation.
Full notes and 3 MCQs ›

International Affairs

International Relations

9. BRICS MENA Meeting 2026 Held in New Delhi

  • The BRICS MENA meeting was held in New Delhi on April 23-24, 2026.
  • MEA Secretary Neena Malhotra presided over the gathering.
  • Delegates reviewed West Asia developments, with Palestine and Gaza on the agenda.
  • Humanitarian assistance was emphasised and zero tolerance for terrorism was restated.
  • Members agreed to meet again in 2027 when China holds the chair.
Full notes and 3 MCQs ›

Agriculture & Rural

Government Schemes

11. SMAM: Farm Mechanisation Mission for Small Farmers

  • SMAM began in 2014-15, run by the agriculture and farmers welfare ministry, to spread farm machinery use.
  • It gives subsidies on tractors, power tillers, seeders and harvesters, with the cost shared by the Centre and states.
  • Custom Hiring Centres and Farm Machinery Banks let small farmers rent machines instead of buying them.
  • States implement the mission through their agriculture departments; a large share of subsidy is earmarked for small and marginal farmers.
Full notes and 3 MCQs ›

Environment & Ecology

Environment & Ecology

12. People’s Biodiversity Register: Local Records of Nature

  • The People's Biodiversity Register (PBR) is a statutory document under the Biological Diversity Act, 2002.
  • A Biodiversity Management Committee (BMC) prepares and keeps the PBR at Panchayat or Municipal level.
  • The PBR records local flora, fauna, aquatic life and associated Traditional Knowledge, such as medicinal uses of plants in sacred groves.
  • Documentation in the PBR helps communities challenge foreign patent claims and prevent bio-piracy.
Full notes and 3 MCQs ›

Defence & Security

Reports & Indexes

International Relations

14. Special 301 Report 2026: India Stays on Priority Watch List

  • The US Trade Representative's annual Special 301 Report kept India on its Priority Watch List for weak IPR protection or enforcement.
  • Vietnam is the lone Priority Foreign Country, the harshest tier, which can trigger Section 301 trade investigations.
  • The European Union moved onto the Watch List this year; Argentina was dropped from the priority list.
  • Section 3(d) of the Patents Act, which blocks evergreening, is the central US complaint about India.
Full notes and 3 MCQs ›
Health & Social Issues

15. Asia University Rankings 2026: IISc Slips to 43rd

  • Tsinghua University (China) topped the Times Higher Education Asia University Rankings 2026 with a score of 93.6; Peking was second.
  • India had 128 institutions listed, the most of any country, ahead of Japan (115) and Turkey (109).
  • IISc Bengaluru fell from 38th in 2025 to 43rd and is India's only top-50 entry.
  • THE now judges universities on 18 indicators in five pillars, up from 13.
Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 2 May 2026, with answers and explanations.

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