Current Affairs 07 May 2026

The President of Vietnam’s visit to India

During the state visit of the President of Vietnam to India, the two countries announced a major expansion of bilateral cooperation across strategic, economic, cultural, digital, and institutional sectors.

Key outcomes

• 13 MoUs and agreements were signed between institutions of India and Vietnam.
• Bilateral ties were elevated to an Enhanced Comprehensive Strategic Partnership.

Major areas of cooperation

• Rare earth elements cooperation between IREL (India) Limited and Vietnam’s Institute for Technology of Radioactive and Rare Elements
• Digital payments and payment systems cooperation between the Reserve Bank of India and the State Bank of Vietnam
• Cross-border QR code interoperability between NPCI International Payments Limited and National Payment Corporation of Vietnam

Important announcements

• New bilateral trade target of USD 25 billion by 2030.
• Vietnam will join the Indo-Pacific Oceans Initiative.
• Establishment of a Site Interpretation Centre at My Son Sanctuary, a UNESCO World Heritage Site in Vietnam.

The UDGAM portal

The Reserve Bank of India informed the Supreme Court of India that 30 banks have been integrated with the UDGAM portal to help legal heirs trace unclaimed deposits of deceased account holders. UDGAM is a centralised web portal that enables individuals to search for unclaimed deposits and dormant accounts across participating banks.

Key points

• The 30 integrated banks account for nearly 90% of funds held in the Depositors’ Education and Awareness Fund (DEAF).
• As of April 1, 2026, the portal had around 20 lakh registered users and about 44 lakh searches.
• The DEAF was created by the RBI in 2014 to hold unclaimed deposits from commercial and cooperative banks.
• This portal only helps identify and trace unclaimed deposits. Claim settlement must be pursued separately with the concerned bank.

First International Big Cat Alliance Summit 2026

India will host the first International Big Cat Alliance Summit 2026 on 1–2 June 2026 in New Delhi. The summit will be organised by the International Big Cat Alliance, an intergovernmental international organisation headquartered in India, dedicated to the conservation of the world’s seven big cat species.

• Seven big cats under IBCA: Lion, Tiger, Leopard, Snow Leopard, Cheetah, Jaguar, and Puma.
• Theme of the International Big Cat Alliance Summit 2026: “Save Big Cats, Save Humanity, Save Ecosystem”

Shashi Shekhar Vempati appointed as the new Chairperson of the CBFC

The Government of India has appointed Shashi Shekhar Vempati as the new Chairperson of the Central Board of Film Certification (CBFC).

• He will hold office for a term of three years
• The appointment follows the elevation of Prasoon Joshi as Chairman of Prasar Bharati.