SEBI has operationalized PaRRVA to standardize and verify performance claims made by financial intermediaries like investment advisers and research analysts. CARE Ratings and the National Stock Exchange will serve as the designated verification agency and data centre, respectively.
Source ↗The Ministry of Petroleum and Natural Gas has implemented a major overhaul of India's cooking gas framework from May 1, including a ban on dual LPG and PNG ownership to better target subsidies. The new regulations also mandate OTP-based delivery and extend the booking interval for refills to 25 days in urban areas and 45 days in rural regions.
Source ↗The Supreme Court exercised its extraordinary powers under Article 142 to issue 13 directives for road safety, framing it as a positive mandate under the Right to Life. The court noted that National Highways account for nearly 30 percent of all road fatalities despite comprising only 2 percent of road length.
Source ↗The India Meteorological Department predicted a below-normal monsoon for 2026 due to El Nino Southern Oscillation (ENSO) effects, though the Indian Ocean Dipole may provide some counteraction. The report emphasizes the need for a circular water economy as India currently reuses only 3 percent of its treated used water.
Source ↗The United Arab Emirates has withdrawn from the Organization of the Petroleum Exporting Countries (OPEC) to seek production autonomy and manage geopolitical differences. This move comes as OPEC's share of global crude production dropped to 36.7 percent in 2025.
Source ↗The Indian rupee fell to an all-time intraday low of 95.34 against the U.S. dollar on May 1, 2026, driven by geopolitical volatility in West Asia and rising global crude oil prices.
Source ↗The Calcutta High Court ordered the Department of Personnel and Training to approve a regularization scheme for over 7,500 daily-rated workers in the Andaman and Nicobar Islands, concluding a 38-year legal battle regarding their employment status.
Source ↗The Indian Space Research Organisation successfully performed an Integrated Air Drop Test from a 3-km altitude, testing the 5.7-ton crew module's deceleration and parachute systems. This test is a critical step in verifying systems for India's human spaceflight program.
Source ↗India and Italy have unveiled a new military cooperation plan to outline engagements and deepen defense ties between their armed forces. The plan focuses on strengthening strategic military relations between the two nations through 2027.
Source ↗Adani Group unveiled a $100 billion investment plan to build India's AI infrastructure in collaboration with global technology firms, marking a significant push toward technological advancement and digital infrastructure development in India.
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