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RBI Cancels Sarvodaya Co-operative Bank’s Licence-Depositors Safe Up to Rs5 Lakh

May 14, 2026

OVERVIEW

The Reserve Bank of India (RBI) has cancelled the licence of Sarvodaya Co-operative Bank Ltd, Mumbai. The order came on 12 May 2026 after business hours. The bank can no longer do any banking work. No deposits, no withdrawals, no loans. But there is good news for customers. Deposits up to Rs5 lakh are fully protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC). About 98.36% of depositors will get their full insured money. The bank failed due to weak finances and regulatory non-compliance.

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India to Build Deep-Sea Gas Pipeline from Oman to Gujarat

May 14, 2026

Overview

India is planning a new natural gas pipeline from Oman to Gujarat. The pipeline will start at Ras Al Jifan in Oman and end at Porbandar in Gujarat. It will run deep under the Arabian Sea. The total length will be about 1,600 to 2,000 km. The deepest point will be around 3,450 metres.

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Uber and Adani Join Hands to Build Uber First Data Centre in India

May 14, 2026

Overview

Uber has partnered with Adani Group to build its first data centre in India. The announcement was made by Uber CEO Dara Khosrowshahi after meeting Gautam Adani in Ahmedabad. The project shows Uber’s growing focus on India as a major technology and engineering hub.

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Election Commission Launches Phase III of Electoral Roll Revision Across India

May 14, 2026

Overview

The Election Commission of India started Phase III of the Special Intensive Revision (SIR) of electoral rolls on 14 May 2026. The exercise covers nearly 36.73 crore voters across 16 States and 3 Union Territories. The process includes door-to-door verification of voter details to update electoral rolls before future elections.

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Assam Cabinet Approves Draft Uniform Civil Code Bill for 2026

May 14, 2026

Overview

The Cabinet of Assam approved the draft Uniform Civil Code (UCC) Bill on 13 May 2026. The approval came during the first Cabinet meeting of Chief Minister Himanta Biswa Sarma in his second term. The bill is expected to be introduced in the Assam Legislative Assembly on 26 May 2026.

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