function as the
National Appellate Authority for Advance Rulings (NAAAR) – a significant GST reform.
Moody's cuts India's GDP forecast – Moody's Ratings released its Global Macro Outlook – May 2026 Update , revising India's GDP growth forecast for Calendar Year 2026 (CY26) downward by 80 basis points to 6% – reflecting weaker global and domestic headwinds.
CMS Info Systems bags ₹400 crore HDFC Bank ATM contract – CMS Info Systems has secured a ₹400 crore contract from HDFC Bank to manage around 6,000 ATMs over five years – a big win for the cash management company.
SEBI allows depositories to dip into Investor Protection Fund – SEBI has proposed allowing depositories to use up to 5% of the interest or income earned from Investor Protection Fund (IPF) investments for administrative and statutory expenses – a pragmatic move.
RBI rationalises foreign exchange dealer rules – The Reserve Bank of India introduced the Foreign Exchange Management (Authorised Persons) Regulations, 2026 – simplifying the authorisation and renewal framework for forex dealers.
Harvansh Chawla to lead BRISEC Chamber – Legal expert Harvansh Chawla has been appointed as Chairman of the BRISEC Chamber of Commerce & Industry (BRISEC CCI) after stepping down from his earlier role as Chairman of the BRICS Chamber of Commerce & Industry (BRICS CCI) .
Bulgaria's former President Rumen Radev becomes Prime Minister – The National Assembly of Bulgaria formally elected and swore in former President Rumen Radev of the Progressive Bulgaria Party as the Prime Minister of Bulgaria in Sofia.
India tests Agni missile with MIRV technology – India successfully conducted the flight‑trial of an advanced Agni missile equipped with Multiple Independently Targeted Re‑entry Vehicle (MIRV) technology from Dr APJ Abdul Kalam Island, Odisha – a major strategic milestone.
IAF's Aerospace Power Seminar at Nagpur – The Headquarters Maintenance Command of the Indian Air Force, in collaboration with the Centre for Airpower and Strategic Studies (CAPSS) , organised a one‑day Joint Aerospace Power Seminar at Nagpur.
Indian Army inducts two indigenous combat systems – Under the Emergency Procurement‑6 (EP‑6) programme , the Army inducted the UAV‑Launched Precision Guided Munition (ULPGM) and AGNIKAA VTOL‑1 FPV Kamikaze Drone – both developed by Adani Defence & Aerospace in Hyderabad.
₹503 crore approved for EV chargers – The Central Government has approved proposals worth ₹503.86 crore for installing 4,874 electric vehicle (EV) chargers across states and Central Public Sector Enterprises (CPSEs) – a push for green mobility.
NASA's Psyche mission captures glowing Mars – NASA's Psyche Mission captured a rare image of Mars appearing as a thin glowing crescent during its deep‑space journey – a stunning cosmic sight.