Daily Current Affairs – May 1, 2026

FDI rules for overseas companies with up to 10% Chinese shareholding are set to be notified soon, as the Department of Economic Affairs is finalising the required approval under FEMA, an official said. The Department for Promotion of Industry and Internal Trade (DPIIT) had already issued a March Press Note easing norms for investments from land-border countries, allowing such firms to invest in India under the automatic route across sectors.

The Reserve Bank of India is bringing home nearly 77% of its gold reserves by March 2026. This significant move accelerates the onshoring of bullion. The central bank has already repatriated a large portion of its gold. This action follows global events that raised concerns about storing sovereign assets abroad. Many countries are now repatriating their gold.

“India maintains high customs duties directed to IP-intensive products such as information and communications technology (ICT) products, solar energy equipment, medical devices, pharmaceuticals, and capital goods”

Revenue Divisional Commissioner, who is heading a State government probe, said there was delay in issuing death certificate to the deceased’s family

Indian equities present a compelling opportunity for patient investors. Recent underperformance has already factored in negative news. Alok Agarwal of Alchemy Capital Management highlights sectors like metals, capital markets, power infrastructure, and defence. He believes the current caution offers an attractive entry point for those looking beyond immediate challenges. Accumulation is advised for long-term gains.

ECB President Christine Lagarde dismissed stagflation concerns in the euro zone, even as risks to growth and inflation rise. The central bank held rates steady and maintained modest growth projections. While inflation pressures persist and economic momentum weakens, the ECB said current conditions do not reflect historical stagflation dynamics.

The top five defence firms face a ₹15 trillion revenue opportunity over five fiscal years, driven by surging government capex and defence exports that reached ₹38,424 crore in FY26.

The government has cut Vodafone Idea's AGR dues by ₹23,600 crore to ₹64,046 crore, giving the telecom operator the clarity it needed to pursue bank funding. 

India made a strong start to their campaign with a 4-1 win over Canada, followed by a 5-0 sweep of Australia, before going down 2-3 to China despite a spirited effort