Daily Current Affairs – May 22, 2026

Arvind Panagariya, Chairman of the 16th Finance Commission, advises the Reserve Bank of India to allow the Indian rupee to weaken. He believes aggressively defending the currency with foreign exchange reserves is a losing strategy. Panagariya suggests that letting the rupee depreciate is the correct response to rising oil prices and currency pressure.

India is actively exploring ways to manage its current account deficit and the weakening rupee. The government is monitoring the global economic situation, including the impact of the Iran war. Steps are being considered to address the widening trade gap. Recent measures include increased import duties on gold and silver, along with restrictions on certain silver imports.

Teenage girls across five villages in Uttar Pradesh’s Chandauli district are resisting child marriage, supported by anganwadi workers who don’t want to see their own lives repeated in another generation. Ashna Butani meets the women leading and demanding change, in a State that sees the highest number of child brides in India

In May 2022, the top court put on hold trials in sedition cases until the government completed its promised exercise “to re-examine and re-consider” the colonial-era provision of Section 124A

Exporting the material would increase Iran’s vulnerability to future U.S. or Israeli attacks, believe top officials; Iran’s Hormuz authority claims regulatory jurisdiction extending into UAE waters

The government rejected the accusations, saying the decree follows Islamic law and insisting the country has already banned the forced marriage of girls

The Capital Group has invested over $2 billion in three Adani Group firms in recent weeks. On May 5, it purchased nearly a 2% stake in for Rs 7,486 crore through open-market deals, as per BSE block-deal data.

Five stocks from the NSE F&O segment witnessed a sharp rise in futures open interest on May 21, indicating increased trading activity and fresh position build-up. The rise in open interest reflects stronger participation from traders, signalling growing conviction and potential momentum in derivatives-driven market action across select counters.

Bandhan Bank will be in the best place to reap the benefits if West Bengal and the BJP government under Suvendu Adhikari do well, Chairman Chandra Shekhar Ghosh says.

The RBI may prefer swaps to open market operations because banks are reluctant to part with government securities needed to meet liquidity coverage ratio norms.

This will be the first international coaching assignment for the 49-year-old, who has previously coached clubs and state teams in the USA