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Current Affairs 14th May 2026
Education Schemes of India
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The Samagra Shiksha Abhiyan was launched in 2018 to integrate school education schemes.
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Eklavya Model Residential Schools are meant for Scheduled Tribe (ST) students.
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The UnnatI Scheme is related to research in higher educational institutions.
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The SWAYAM Portal is used for online education and learning courses.
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The National Scholarship Portal aims to bring all scholarships onto a single platform.
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The PadhoPardesh Scheme is meant for minority students pursuing studies abroad.
1. Indian Bank appoints Samir Kumar as Nominee Director
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Government Representation: Samir Kumar, a 1995-batch Indian Administrative Service (IAS) officer, has been appointed as a Nominee Director by the Department of Financial Services (DFS), Ministry of Finance. His role is to ensure alignment between the bank’s operations and the government's financial policies.
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Professional Background: He currently serves as a Joint Secretary in the Ministry of Finance. With extensive experience in public administration and financial governance, he brings high-level expertise in policy implementation and regulatory oversight to the board.
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Board Strengthening: His appointment is part of a broader move to strengthen the corporate governance of Public Sector Banks (PSBs). He will be involved in strategic decision-making, monitoring the bank’s performance, and ensuring strict adherence to the RBI’s regulatory framework.
Footnotes: Indian Bank's MD & CEO: Binod Kumar, HQ: Chennai, Estd: 1907
2. India’s PSBs Achieve Record Profit for 4th Consecutive Year
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Record-Breaking Profitability: The aggregate net profit grew by 11.1% year-on-year, reaching an all-time high of ₹1.98 lakh crore. This surge was driven by robust credit growth (15.7%) and a significant increase in total business, which crossed ₹283 lakh crore.
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Historic Low NPAs: Asset quality reached its best level in years. The Gross NPA (Non-Performing Assets) ratio dropped to 1.93%, while the Net NPA ratio fell to a record low of 0.39%. This drastic reduction reflects stricter credit discipline and more effective recovery mechanisms.
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Strong Capital Buffers: PSBs have significantly strengthened their financial resilience, maintaining an aggregate Capital to Risk (Weighted) Assets Ratio (CRAR) of 16.6%. All 12 public sector banks also maintained a Provisioning Coverage Ratio (PCR) above 90%, ensuring they are well-protected against future risks.
3. C Sugandh Rajaram appointed as India’s Ambassador to Peru
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Current Profile: A 2001-batch officer of the Indian Foreign Service (IFS), he is currently serving as a Joint Secretary in the Ministry of External Affairs.
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Previous Assignment: Before his current role in New Delhi, he served as the High Commissioner of India to Ghana, where he was instrumental in strengthening bilateral and economic ties.
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Significance: His appointment comes at a time when India is looking to expand its footprint in Latin America, particularly in sectors like mining, pharmaceuticals, and digital infrastructure.
Footnotes: Peru's PM: Luis Arroyo Sanchez, President: Jose Maria Balcazar, Capital: Lima
4. Kevin Warsh appointed as Governor of the Federal Reserve by the US
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Extensive Experience: Warsh previously served on the Federal Reserve Board from 2006 to 2011, making him one of the youngest governors in history. His return brings deep institutional knowledge, particularly regarding crisis management and financial market stability.
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Policy Stance: He is generally viewed by markets as a "policy hawk," often advocating for a focus on long-term price stability and cautious government spending. His presence is expected to influence the Fed's approach toward controlling inflation and managing the central bank's balance sheet.
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Strategic Role: His appointment is seen as a move to bridge the gap between Wall Street and Washington. Having served as an advisor during the 2008 financial crisis, he is expected to play a lead role in navigating current global economic uncertainties and modernizing the Fed's communication with the public.
Footnotes: US's President: Donald Trump, Chief Justice: John Roberts, Capital: Washington, D.C.
5. India’s Gyaneshwari Yadav bags silver & bronze in Weightlifting
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Double Medal Haul: Competing in the women's 53kg category, Gyaneshwari won two medals: a Silver in the snatch section (lifting 88kg) and an Overall Bronze with a total combined lift of 194kg.
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Narrow Margin: She missed out on the overall silver medal by a whisker, finishing just 1kg behind Vietnam’s Hoai Huong Nguyen (195kg), while China's Jinlan Zhao secured the gold with a dominant 216kg.
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CWG 2026 Qualifier: This championship serves as a crucial qualifying event for the 2026 Commonwealth Games. Gyaneshwari's success, following Komal Kohar’s bronze earlier in the week, significantly boosts India's standing in the continental rankings.
6. Virat Kohli slams record 9th IPL century
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Undisputed Century Record: With this unbeaten 105 off 60 balls*, Kohli became the first player in history to hit nine IPL centuries. He further extended his lead over Jos Buttler (7) and Chris Gayle (6), solidifying his status as the most prolific centurion in the tournament’s history.
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Fastest to 14,000 T20 Runs: During this innings, Kohli became the fastest batter to reach 14,000 runs in T20 cricket, achieving the milestone in just 409 innings. He surpassed the previous record held by "Universe Boss" Chris Gayle (423 innings) and became only the sixth player ever to reach the landmark.
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The Ultimate "Chase Master" Comeback: Coming into the match following two consecutive ducks, Kohli orchestrated a successful chase of 193. This was his 10th T20 century overall, and the victory propelled RCB to the top of the IPL 2026 points table.
7. R. Mukundan Succeeds Rajiv Memani as CII President for 2026–27
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New Leadership: R. Mukundan, the Managing Director and CEO of Tata Chemicals Ltd, succeeds Rajiv Memani (Chairman of EY India). Mukundan has been a prominent voice in the Indian industry, previously serving as the Vice President of the chamber.
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Strategic Focus: His presidency is expected to focus on Green Energy transition, digital transformation, and strengthening India’s global supply chain presence. He aims to align industry efforts with the "Viksit Bharat" roadmap to ensure sustainable economic growth.
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Key Appointments: Alongside Mukundan, Noel Tata (Chairman of Trent and Tata Investment Corporation) has been elected as the President-designate for 2026–27, while Sanjiv Puri (Chairman of ITC Ltd) will serve as the Vice President.
Footnotes: CII's President: Rajiv Memani, HQ: New Delhi, Estd: 1895
8.Indian Pharmacopoeia Commission Signs MoUs with Bihar Pharmacy Councils
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Strengthening Pharmacovigilance: The primary goal is to bolster the Pharmacovigilance Programme of India (PvPI) by improving Adverse Drug Reaction (ADR) reporting. The partnership will facilitate the establishment of more ADR Monitoring Centres (AMCs) to track and analyze medicine-related side effects more effectively.
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Promoting Rational Use of Medicines: A key focus is the widespread adoption of the National Formulary of India (NFI). Registered pharmacists in Bihar will be encouraged to use the NFI as a mandatory reference to ensure evidence-based medicine dispensing and to curb the irrational use of drugs, including over-prescription of antibiotics.
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Professional Capacity Building: IPC and the Bihar State Pharmacy Council will jointly organize training programs and workshops for pharmacists. These initiatives aim to upgrade professional competencies in drug safety standards, regulatory compliance, and patient counseling, positioning pharmacists as active guardians of public health.
Footnotes: Bihar's CM: Samrat Choudhary, Governor: Syed Ata Hasnain, Capital: Patna
WHAT HAPPENED TODAY
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1796: The First Smallpox Vaccination: English physician Edward Jenner inoculated 8-year-old James Phipps with cowpox matter
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1973: Launch of Skylab: NASA launched Skylab, the first United States space station.
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