Daily Current Affairs May 02 & 03

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs May 02 & 03. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly current affairs pdf.

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May 02 & 03 | Daily Current Affairs 2026

Important Days – Daily Current Affairs May 02 & 03

1. When is World Tuna Day observed annually?
A) May 2
B) April 22
C) June 8
D) July 11
E) September 16
Answer: A) May 2.

Event and Location:

• Event: World Tuna Day 2025 was observed to promote sustainable tuna fishing and marine conservation.
• Location: Global.
• Date: May 2, 2025.

Mandates and Objectives:

• Mandates: The United Nations-sponsored observance highlights the importance of tuna in food security, economic development, and marine biodiversity.
• Objectives: The day aims to promote sustainable and science-based fishing practices, protect tuna stocks, and support SDG 14 on Life Below Water.

Important Terms Explained:

• World Tuna Day: World Tuna Day is a United Nations-designated observance marked annually on May 2 to raise awareness about tuna conservation and sustainable fishing.
• Sustainable Fishing: Sustainable fishing refers to harvesting fish in a way that maintains fish populations, protects ecosystems, and supports long-term marine resource availability.
• SDG 14: SDG 14, or Life Below Water, is a Sustainable Development Goal focused on conserving and sustainably using oceans, seas, and marine resources.
• Overfishing: Overfishing occurs when fish are caught faster than their populations can naturally reproduce, leading to stock decline and ecosystem imbalance.

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2. World Press Freedom Day is observed every year on which date?
A) May 3
B) May 1
C) May 2
D) June 5
E) December 10
Answer: A) May 3.

Event and Location:

• Event: World Press Freedom Day 2025 was observed to highlight the importance of free, independent, and pluralistic media.
• Location: Global.
• Date: May 3, 2025.

Mandates and Objectives:

• Mandates: The observance promotes press freedom, honours journalists working in dangerous conditions, and raises awareness about threats faced by media professionals.
• Objectives: The day aims to protect independent journalism, support access to accurate information, counter misinformation, and strengthen democracy through transparent public communication.

Important Terms Explained:

• World Press Freedom Day: World Press Freedom Day is a United Nations-recognised observance marked annually on May 3 to promote press freedom and defend the rights of journalists.
• Windhoek Declaration: The Windhoek Declaration is a 1991 declaration adopted in Namibia that called for a free, independent, and pluralistic press.
• UNESCO: UNESCO is the United Nations agency that organises World Press Freedom Day annually and works to promote education, science, culture, communication, and information.
• Article 19: Article 19 of the Universal Declaration of Human Rights protects the right to freedom of opinion and expression.

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Sports – Daily Current Affairs May 02 & 03

3. Which team did India defeat 3–0 to enter the Thomas Cup 2026 semifinals?
A) Chinese Taipei
B) Denmark
C) Malaysia
D) Indonesia
E) Japan
Answer: A) Chinese Taipei.

Event and Location:

• Event: Indian men’s badminton team defeated Chinese Taipei 3–0 to enter the Thomas Cup 2026 semifinals and secure a medal.
• Location: Horsens, Denmark.
• Date: May 2, 2026.

Mandates and Objectives:

• Mandates: India competed in the Thomas Cup 2026 quarterfinal and registered a 3–0 win over Chinese Taipei to qualify for the semifinals.
• Objectives: The win aimed to continue India’s strong run in global badminton and confirmed only its second last-four finish in Thomas Cup history after the 2022 title triumph.

Important Terms Explained:

• Thomas Cup: The Thomas Cup is the world men’s team badminton championship organised by the Badminton World Federation and held every two years.
• Badminton World Federation: The Badminton World Federation is the global governing body responsible for regulating and organising international badminton competitions.
• Men’s Team Championship: A men’s team championship is a badminton format where countries compete through singles and doubles matches to decide the winning national team.

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Banking and Finance – Daily Current Affairs May 02 & 03

4. What percentage of ₹2,000 notes has returned to the banking system according to the Reserve Bank of India?
A) 98.47%
B) 95.60%
C) 97.25%
D) 99.10%
E) 96.80%
Answer: A) 98.47%.

Event and Location:

• Event: Reserve Bank of India announced that 98.47% of ₹2,000 notes have returned to the banking system.
• Location: India.
• Date: April 30, 2026.

Mandates and Objectives:

• Mandates: The Reserve Bank of India reported the latest status of ₹2,000 banknotes after their withdrawal from circulation was announced on May 19, 2023.
• Objectives: The move aims to support currency management, promote cleaner currency circulation, reduce reliance on high-value notes, and ensure a smooth transition through formal banking channels.

Important Terms Explained:

• ₹2,000 Banknote Withdrawal: ₹2,000 banknote withdrawal refers to the Reserve Bank of India’s decision to remove ₹2,000 denomination notes from active circulation while keeping them as legal tender.
• Legal Tender: Legal tender is a currency that is officially recognised by law for payment of debts and financial transactions.
• Currency Management: Currency management refers to the central bank’s process of issuing, withdrawing, replacing, and monitoring currency notes to maintain efficient money circulation.
• Reserve Bank of India: Reserve Bank of India is India’s central bank responsible for monetary policy, currency issuance, banking regulation, and financial stability.

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Appointments – Daily Current Affairs May 02 & 03

5. Who has been appointed as the new Deputy Governor of the Reserve Bank of India from May 3, 2026?
A) Rohit Jain
B) T. Rabi Sankar
C) M. Rajeshwar Rao
D) Swaminathan J
E) Michael Debabrata Patra
Answer: A) Rohit Jain.

Event and Location:

• Event: Rohit Jain was appointed as Deputy Governor of the Reserve Bank of India.
• Location: India.
• Date: May 3, 2026.

Mandates and Objectives:

• Mandates: The Government of India appointed Rohit Jain as Deputy Governor of the Reserve Bank of India for a tenure of three years after approval by the Appointments Committee of the Cabinet.
• Objectives: The appointment aims to strengthen RBI leadership in financial regulation, banking supervision, risk management, and regulatory oversight.

Important Terms Explained:

• Reserve Bank of India: Reserve Bank of India is India’s central bank responsible for monetary policy, currency issuance, banking regulation, payment systems, and financial stability.
• Deputy Governor: Deputy Governor is a senior leadership post in the Reserve Bank of India responsible for overseeing key departments and supporting policy, regulation, and supervision functions.
• Appointments Committee of the Cabinet: Appointments Committee of the Cabinet is a high-level government body that approves appointments to senior positions in the Government of India and major institutions.
• Department of Supervision: Department of Supervision is an RBI department responsible for monitoring regulated entities, assessing risks, and strengthening supervisory oversight.

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6. Who assumed charge as Secretary (Defence Finance) in the Ministry of Defence on May 1, 2026?
A) Vishvajit Sahay
B) Giridhar Aramane
C) Rajesh Kumar Singh
D) Sanjay Kumar Mishra
E) Ajay Bhatt
Answer: A) Vishvajit Sahay.

Event and Location:

• Event: Vishvajit Sahay assumed charge as Secretary (Defence Finance) in the Ministry of Defence.
• Location: India.
• Date: May 1, 2026.

Mandates and Objectives:

• Mandates: Vishvajit Sahay took charge as Secretary (Defence Finance) after previously serving as Controller General of Defence Accounts in the Ministry of Defence.
• Objectives: The appointment aims to strengthen India’s defence financial governance and strategic decision-making framework.

Important Terms Explained:

• Secretary (Defence Finance): The Secretary (Defence Finance) is a senior official responsible for financial advice, budget oversight, expenditure control, and financial decision support in defence matters.
• Controller General of Defence Accounts: The Controller General of Defence Accounts heads the Defence Accounts Department and manages defence accounting, payments, pensions, internal audit, and financial advisory functions.
• Indian Defence Accounts Service: The Indian Defence Accounts Service is a central civil service cadre responsible for defence accounts management, budgeting, audit, and financial administration.

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7. Who assumed charge as the Controller General of Defence Accounts?
A) Anugraha Narayana Das
B) Vishvajit Sahay
C) Giridhar Aramane
D) Rajesh Kumar Singh
E) Sanjay Kumar Mishra
Answer: A) Anugraha Narayana Das.

Event and Location:

• Event: Anugraha Narayana Das assumed charge as Controller General of Defence Accounts.
• Location: India.
• Date: May 2, 2026.

Mandates and Objectives:

• Mandates: Anugraha Narayana Das took charge as Controller General of Defence Accounts under the Ministry of Defence.
• Objectives: The appointment aims to strengthen financial transparency, accountability, efficiency, auditing, budgeting, and expenditure monitoring in defence spending.

Important Terms Explained:

• Controller General of Defence Accounts: The Controller General of Defence Accounts heads the Defence Accounts Department and oversees defence accounts, payments, audit, pensions, and financial advisory functions.
• Indian Defence Accounts Service: The Indian Defence Accounts Service is a central civil service cadre responsible for defence finance management, accounting, budgeting, auditing, and financial administration.
• Defence Finance Management: Defence finance management refers to the planning, allocation, monitoring, and auditing of financial resources used for defence administration and procurement.

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8. Who has been appointed as the Festival Director for the 57th International Film Festival of India?
A) Ashutosh Gowariker
B) Shekhar Kapur
C) Anurag Kashyap
D) Rajkumar Hirani
E) Sanjay Leela Bhansali
Answer: A) Ashutosh Gowariker.

Event and Location:

• Event: Ashutosh Gowariker was appointed as the Festival Director for the 57th International Film Festival of India.
• Location: Goa, India.
• Date: November 2026.

Mandates and Objectives:

• Mandates: The Ministry of Information and Broadcasting appointed Ashutosh Gowariker to lead the 57th International Film Festival of India scheduled to be held in Goa.
• Objectives: The appointment aims to strengthen the global stature of the International Film Festival of India and bring a renewed creative vision to the festival.

Important Terms Explained:

• International Film Festival of India: The International Film Festival of India is one of Asia’s oldest and most respected film festivals, established in 1952 to promote global cinematic excellence.
• Ministry of Information and Broadcasting: The Ministry of Information and Broadcasting is the Government of India ministry responsible for policies related to films, broadcasting, media, and public communication.
• National Film Development Corporation: The National Film Development Corporation is an Indian public sector body that supports film production, promotion, and development of Indian cinema.

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9. Who has assumed charge as Secretary of the Ministry of Micro, Small and Medium Enterprises?
A) Bharat Khera
B) Anugraha Narayana Das
C) Vishvajit Sahay
D) Rajesh Kumar Singh
E) Giridhar Aramane
Answer: A) Bharat Khera.

Event and Location:

• Event: Bharat Khera assumed charge as Secretary of the Ministry of Micro, Small and Medium Enterprises.
• Location: India.
• Date: May 2, 2026.

Mandates and Objectives:

• Mandates: Bharat Khera took charge as Secretary of the Ministry of Micro, Small and Medium Enterprises to lead policy and administrative initiatives for the MSME sector.
• Objectives: The appointment aims to strengthen the MSME ecosystem, support enterprise growth, and enhance the sector’s contribution to India’s economic development.

Important Terms Explained:

• Ministry of Micro, Small and Medium Enterprises: The Ministry of Micro, Small and Medium Enterprises is the Government of India ministry responsible for policies, schemes, and support systems for micro, small, and medium enterprises.
• MSME Sector: The MSME sector consists of micro, small, and medium enterprises that contribute significantly to employment generation, industrial output, exports, and India’s GDP.
• Indian Administrative Service: The Indian Administrative Service is one of India’s premier civil services responsible for policy implementation, public administration, and governance at central and state levels.

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National Affairs – Daily Current Affairs May 02 & 03

10. Who reconstituted four major Parliamentary Committees for the term 2026–27?
A) Om Birla
B) Jagdeep Dhankhar
C) Droupadi Murmu
D) Narendra Modi
E) K. C. Venugopal
Answer: A) Om Birla.

Event and Location:

• Event: Om Birla reconstituted four major Parliamentary Committees for the term 2026–27.
• Location: India.
• Date: May 1, 2026.

Mandates and Objectives:

• Mandates: The Lok Sabha Speaker reconstituted the Committee of Estimates, Public Accounts Committee, Committee on Public Undertakings, and Committee on Welfare of Scheduled Castes and Scheduled Tribes for a one-year tenure.
• Objectives: The committees aim to strengthen accountability, transparency, financial discipline, public expenditure review, government performance evaluation, and welfare policy monitoring.

Important Terms Explained:

• Parliamentary Committees: Parliamentary Committees are groups of Members of Parliament appointed or elected to examine government policies, expenditure, bills, reports, and administrative performance.
• Public Accounts Committee: The Public Accounts Committee scrutinises government expenditure based on reports submitted by the Comptroller and Auditor General of India.
• Committee of Estimates: The Committee of Estimates examines government budget estimates and suggests measures to improve efficiency and reduce unnecessary expenditure.
• Committee on Public Undertakings: The Committee on Public Undertakings reviews the functioning, performance, and financial management of public sector undertakings.
• Article 105: Article 105 of the Indian Constitution deals with the powers, privileges, and immunities of Parliament, its members, and committees.
• Article 118: Article 118 empowers each House of Parliament to frame rules for regulating its procedure and conduct of business.

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11. Which ministry notified the Citizenship (Amendment) Rules, 2026?
A) Ministry of Home Affairs
B) Ministry of External Affairs
C) Ministry of Law and Justice
D) Ministry of Finance
E) Ministry of Personnel, Public Grievances and Pensions
Answer: A) Ministry of Home Affairs.

Event and Location:

• Event: The Government of India notified the Citizenship (Amendment) Rules, 2026 to update OCI and citizenship-related procedures.
• Location: India.
• Date: May 2, 2026.

Mandates and Objectives:

• Mandates: The Ministry of Home Affairs issued amendments to the Citizenship Rules, 2009, covering OCI registration, renunciation, e-OCI, online applications, and biometric consent.
• Objectives: The rules aim to streamline, digitise, and improve efficiency in citizenship and Overseas Citizen of India-related application processes.

Important Terms Explained:

• Overseas Citizen of India: Overseas Citizen of India is a status granted to eligible foreign nationals of Indian origin, allowing them certain long-term residency and travel-related privileges in India.
• e-OCI: e-OCI refers to electronic OCI registration, under which eligible applicants may receive either a physical OCI card or digital registration.
• Foreigners Regional Registration Officer: Foreigners Regional Registration Officer is an authority responsible for registration, visa-related services, and monitoring of foreign nationals in India.
• Fast Track Immigration Program: Fast Track Immigration Program is a system designed to enable faster and more secure immigration processing through biometric-based verification.

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Over All Review

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