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Gold and Silver Imports Costlier – India Hikes Tariff to 15 percent from 13 May 2026

May 13, 2026

OVERVIEW

On 13 May 2026, the Indian government increased the effective import tariff on gold and silver to 15%. Earlier, it was only 6%. The new duty has two parts: a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess. This move comes after India’s gold imports reached a record $71.98 billion in 2025-26. Gold is now the second biggest import item after crude oil. The higher duty may affect prices and try to control the import bill.

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Meet Loki A Hidden Ancient Dwarf Galaxy Found Inside the Milky Way

May 12, 2026

OVERVIEW

Scientists have found clues of an ancient dwarf galaxy hiding inside our own Milky Way. They have named it Loki. The study came out in May 2026 in a well-known science journal. Researchers looked at 20 very old stars near the Sun. These stars have unusual chemical fingerprints and mixed orbital paths. The finding suggests that Loki merged with the Milky Way long ago. If confirmed, Loki will join other swallowed galaxies like Gaia-Enceladus and Kraken.

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Karnataka Launches KAAMS New AI-Powered App to Mark Attendance Twice a Day

May 12, 2026

OVERVIEW

The Karnataka government has introduced a new mobile app called KAAMS. It stands for Karnataka Advanced Attendance Management System. The app is also named Kartavya-KAAMS. It uses Artificial Intelligence, Facial Recognition, and Geo-Fencing to track attendance. All permanent teachers, Head Masters, officers, and non-teaching staff in government schools and offices must use it. They need to mark attendance twice a day from their duty location. The system started on 1 May 2026 for the academic year 2026-27. It replaces the old biometric system.

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SEBI’s GARUDA Proposal: New Rule to Launch Investment Schemes in Just 10 Days

May 12, 2026

OVERVIEW

India’s market regulator, SEBI, has proposed a new system called GARUDA. It stands for Green-Channel: AIF Rollout Upon Document Acknowledgement. This rule will help Alternative Investment Funds (AIFs) launch their schemes faster. Right now, AIFs must wait 30 days after filing papers. Under GARUDA, eligible schemes can start in just 10 working days. This will make fundraising quicker and improve business ease. The public can share feedback on this proposal until 1 June 2026.

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Himanta Biswa Sarma Takes Oath as Assam CM for Second Term-PM Modi Attends Grand Ceremony

May 12, 2026

OVERVIEW

On 12 May 2026, Himanta Biswa Sarma became the Chief Minister of Assam for the second time in a row. The swearing-in ceremony took place in Guwahati. Prime Minister Narendra Modi, many Union Ministers, and Chief Ministers from BJP and NDA states attended the event. Four other leaders also took oath as ministers. The NDA alliance won a big majority in the recent assembly elections. This is the third term for the NDA government in Assam since 2016.

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