Daily Current Affairs May 31, 2026

Current Affairs and GK updates 31/05/2026

Here is the Daily current affairs and GK updates of the day for UPSC,SSC,IBPS,RRB,NTPC and other competitive exams preparations.This updates particularly focus on news updates from 31st May 2026.

National

• PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi), the flagship micro-credit scheme of the Ministry of Housing & Urban Affairs (MoHUA), has completed six years of empowering street vendors through affordable collateral-free credit, digital inclusion and social security.

International

• An Indian Air Force IL-76 strategic airlift aircraft, Gajraj, transported the sacred relics of Arahant Sariputta and Arahant Mahamoggallana, the chief disciples of Gautama Buddha from Delhi to Mongolia on 30 May 2026. The mission was undertaken by the IAF in support of India's efforts to strengthen cultural ties with friendly nations.

Appointments

• General NS Raja Subramani, assumed charge as the third Chief of Defence Staff (CDS) and SecretaryGeneral NS Raja Subramani, assumed charge as the third Chief of Defence Staff (CDS) and Secretary,Department of Military Affairs on May 31, 2026.CDS is country's highest-ranking military officer, serving as the principal military advisor to the Defence Minister and heading the Department of Military Affairs.
• Admiral Krishna Swaminathan  assumed charge as the 27th Chief of the Naval Staff of the Indian Navy on 31 May 2026. He succeeds Admiral Dinesh Kumar Tripathi, who superannuated after 41 years of distinguished service.

Sports and culture

• Badminton: India’s Satwiksairaj-Chirag win Singapore Open 2026:In Badminton, Indian men's double pair of Satwiksairaj Rankireddy and Chirag Shetty won the finals of the Singapore Open tournament today. The Indian pair defeated Indonesian pair of Muhammad Shohibul Fikri and Fajar Alfian 18-21, 21-17, 21-16 in the final match.
• In Football, Paris Saint-Germain retained the UEFA Champions League title after defeating Arsenal 4-3 in a penalty shootout in the final in Budapest last night.

Days Observed

• World No Tobacco Day is being observed today to raise awareness against the dangers of using tobacco. The day is a global initiative by the World Health Organisation (WHO) to end the use of tobacco. The theme for this year is Unmasking the appeal – Countering nicotine and tobacco addiction.
• Lokmata Ahilyabai Holkar's birth anniversary is observed annually on May 31st. Born in 1725 in Chaundi, Maharashtra, she was the revered ruler of the Maratha Malwa kingdom. Her legacy of just administration, public welfare, and nationwide temple restoration continues to inspire India today.

Static GK for exam preparations

PM SVANidhi scheme

The PM SVANidhi (Prime Minister Street Vendor's AtmaNirbhar Nidhi) scheme is a central micro-credit initiative launched in June 2020 by the Ministry of Housing and Urban Affairs (MoHUA) to provide collateral-free working capital loans to street vendors. Originally introduced to help vendors recover from pandemic-induced financial disruptions, the scheme has been restructured and extended until March 31, 2030.

Restructured Loan and Tranche Framework 

The scheme operates on a graduated ladder structure, allowing street vendors to access higher credit amounts upon the timely repayment of earlier tranches:

• 1st Tranche: Working capital loan up to ₹15,000 with a repayment tenure of 12 months.
• 2nd Tranche: Enhanced loan up to ₹25,000 with a repayment tenure of 18 months.
• 3rd Tranche: Term loan up to ₹50,000 with a repayment tenure of 36 months.

Eligibility Criteria

The scheme is applicable pan-India across all States and Union Territories that have notified rules under the Street Vendors Act of 2014. It covers urban local bodies (ULBs), census towns, and peri-urban areas: 

• Urban Vendors: Must possess a valid Certificate of Vending (CoV), Identity Card, or Letter of Recommendation (LoR) from local Town Vending Committees.
• Peri-Urban / Census Town Vendors: Eligible if they possess an LoR approved by their respective Block Development Officer (BDO). 
• Basic Requirements: The applicant must be at least 18 years old. No minimum credit score or project proposals are required for approval.