The inaugural Joint Commission meeting between India and Algeria took place in New Delhi on May 05, 2026. During the meeting, the two sides discussed areas of mutual interest in the field of training, military exercise, medical cooperation and defence industries. They agreed to further expand defence cooperation activities between the two countries.
Defence relationship between India and Algeria has gained momentum since the signing of a Defence MoU in 2024 and is marked by high-level visits from both sides. The visit of Chief of Staff of the Naval Forces, Algeria marks a pivotal step in India-Algeria defence relations and reinforces the commitment of both sides to work together in areas of mutual interest.
Both the countries signed the Rules of Procedure responsible for overseeing the implementation of India-Algeria defence cooperation which will work as a guiding framework for Joint Commission meetings. The meeting was co-chaired by Joint Secretary (International Cooperation) Shri Amitabh Prasad and Chief of Staff of the Naval Forces, Algeria Maj Gen Kaid Nour Eddine.
Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav launched the website and logo for the 1st International Big Cat Alliance (IBCA) Summit 2026, in New Delhi. During the event, he also released a promotional film on the Summit.
The IBCA, an inter-governmental international organisation headquartered in India, has been established for the conservation of seven big cats - Lion, Tiger, Leopard, Snow Leopard, Cheetah, Jaguar and Puma.
The Government of India, through a notification issued by the Ministry of Information and Broadcasting dated May 6, 2026, has appointed Shri Shashi Shekhar Vempati as the Chairperson of the Central Board of Film Certification (CBFC). He shall hold office for a period of three years from the date of joining.
Consequent upon the elevation of Shri Prasoon Joshi as Chairman of Prasar Bharati, he has stepped down from the position of Chairperson, Central Board of Film Certification (CBFC), leading to the present appointment.
Shri Shashi Shekhar Vempati brings with him extensive experience in media, broadcasting, and public communication.
The Union Cabinet, chaired by Prime Minister Narendra Modi approved two more semiconductor projects under the India Semiconductor Mission (ISM), the country's first commercial Mini/Micro-LED display facility based on Gallium Nitride (GaN) technology, and a semiconductor packaging unit. Both facilities will come up in Gujarat.
The two approved units, Crystal Matrix Limited (CML) and Suchi Semicon Private Limited (SSPL), will together draw a cumulative investment of around Rs 3,936 crore and are expected to generate employment for 2,230 skilled professionals.
With these two approvals, the total number of projects approved under ISM reaches 12, with cumulative investments of around Rs 1.64 lakh crore. Two ISM-approved projects have already commenced commercial shipments, with two more expected to begin soon.
The Unique Identification Authority of India (UIDAI) and the National Forensic Sciences University (NFSU) have joined hands to establish a structured, five-year collaboration in the domains of digital forensics, cybersecurity, and advanced technology research.
Ministry of Electronics and IT said that the agreement provides an umbrella framework for collaboration and brings together two key national institutions to further strengthen cyber resilience across UIDAI’s digital infrastructure, which underpins India’s digital identity ecosystem.
It will focus on six strategic pillars: academic and professional development, information security and system integrity, forensic infrastructure and lab excellence, technical support for cybersecurity activities, technical advisory and research and strategic placement and outreach, including a pathway for placement and outreach opportunities for NFSU students.
India received more than 137 billion dollars in remittances in 2024, the top remittance recipient country in the world and the only nation to surpass 100 billion dollars, the UN agency on migration said.
The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2026-27 (October - September) at Rs.365/qtl for a basic recovery rate of 10.25%, providing a premium of Rs.3.56/qtl for each 0.1% increase in recovery over,
and above 10.25%, & reduction in FRP by Rs.3.56/qtl for each 0.1% decrease in recovery.
The Government with a view to protect interest of sugarcane farmers has also decided that there shall not be any deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs.338.3/qtl for sugarcane in ensuing sugar season 2026-27.
Vodafone Idea’s board of directors appointed Kumar Mangalam Birla as Non-Executive Chairman of the Board of Directors, with the decision effective from May 5, 2026. Birla is currently a Non-Executive Director on the board.
The board accepted existing Non-Executive Chairman Ravinder Takkar’s request to step down, the company said in a statement to the exchanges late evening. Takkar will continue as a Non-Executive Director.
Birla returns to the position he had occupied for four years starting August 2018.
He remained outside the board, continuing as promoter, between August 2021 and March 2023. In April 2023, he returned as a non-executive and non-independent additional director, according to the company’s annual reports.
Markets regulator Sebi proposed allowing Online Bond Platform Providers (OBPPs) to offer products or services regulated by International Financial Services Centres Authority (IFSCA) and certain tax-saving bonds under the Income Tax Act.
The Reserve Bank of India (RBl) has, by an order dated April 29, 2026, imposed a monetary penalty of Rs. 2 lakh (Rupees Two Lakh only) on Pandharpur Urban Co-operative Bank Ltd., Pandharpur, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Asset classification and treatment of accounts as Non-Performing Assets’.
The Reserve Bank of India (RBI) has, by an order dated April 29, 2026, imposed a monetary penalty of Rs. 20,000/- (Rupees Twenty Thousand only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Prudential Norms on Capital Adequacy – Primary (Urban) Co-operative Banks (UCBs)’.
Rare earth magnets and printed circuit boards are among 40 sub-sectors identified by the government for expedited clearance within 60 days of FDI proposals from China and other countries sharing land borders with India.
The government has also laid out procedural guidelines for foreign direct investment (FDI) proposals from these countries - China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar and Afghanistan - in the specified sectors or activities, according to the updated standard operating procedure for processing of FDI proposals.
The move follows a decision by the government in March to process and decide FDI proposals from these countries in specified manufacturing sectors or activities within 60 days.
However, it has stated that in these cases, the majority shareholding and control of the investee entity will be with resident Indian citizens/or resident Indian entity owned and controlled by Indians at all times.
The 40 sub-sectors are under six broad sectors - capital goods manufacturing, electronic capital goods and electronic component manufacturing, polysilicon (and ingot-) wafers, advanced battery components, rare earth permanent magnets, and rare earth processing.
The sub-sectors included manufacturing of insulation items; castings and forgings required in thermal/hydro/nuclear power plants; machine tools; display components (plasma, polymer, LCD, LED); camera module; electronic capacitors; speakers and microphones for ICT products; Li-ion batteries; wearables; and rare earth metal, alloy and magnet making facility.
IDBI Bank has announced a strategic collaboration with the Indian Institute of Technology Madras (IIT Madras) to strengthen secure and innovative banking technologies in India. As part of this partnership, the two institutions have established the IDBI–IITM Secure Systems Lab (I2SSL), aimed at advancing research and development in secure banking systems.
The newly launched lab will focus on developing cutting-edge solutions to enhance the safety, resilience, and innovation of digital banking infrastructure. This initiative comes at a time when the financial sector is increasingly prioritising cybersecurity and technology-driven transformation to address emerging risks and evolving customer expectations.
