News In Short 02-06-2026

Majuli Island

Syllabus: GS1/ Geography

Context

• A recent study by scientists from the Birbal Sahni Institute of Palaeosciences has reconstructed nearly 4,000 years of climate, vegetation, and river dynamics of Majuli Island.

About Majuli Island

• Majuli is located in the Brahmaputra River system in Assam and is recognized as the world’s largest inhabited river island.
• Majuli is a unique fluvial island formed by the Brahmaputra River and its tributaries, covering about 875 sq. km.
• It is bounded by the Subansiri River in the north, Kherkatia Suti in the northeast, and the Brahmaputra River in the south.
• Its landscape consists of alluvial plains, braided channels, wetlands (Beels), and riverine sandbars known as Chaporis.
• The island is an important centre of Neo-Vaishnavite culture established by Srimanta Sankardeva.
  • It hosts around 30 Sattras (Vaishnavite monasteries), which serve as centres of religion, culture, education, and community governance.
  • Major Sattras include Auniati Satra, Kamalabari Satra, Garamur Satra, and Dakhinpat Satra.
• It is home to several indigenous tribal communities, including the Mising, Deori, and Sonowal Kachari tribes.
• The island faces recurrent floods, riverbank erosion, deforestation, and land loss.

Source: DD News

AUKUS Alliance

Syllabus: GS2/ International Relations

Context

• The AUKUS alliance between Australia, the United Kingdom, and the United States has completed five years and recently expanded cooperation in maritime defence and advanced technologies.

About AUKUS

• AUKUS was launched in September 2021 as a trilateral strategic security partnership.
• It was launched amid growing geopolitical competition and security concerns in the Indo-Pacific region.
• Its objective is to strengthen defence capabilities, technological cooperation, and strategic stability in the Indo-Pacific region.

Two Pillars of AUKUS

• Pillar I:
  • Focuses on helping Australia acquire conventionally armed nuclear-powered submarines (SSNs).
  • The US will supply three Virginia-class submarines to Australia, with an option for two more.
  • It will make Australia the seventh country to operate nuclear-powered submarines.
• Pillar II:
  • Focuses on cooperation in advanced technologies such as artificial intelligence, quantum computing, cyber capabilities, undersea technologies, and advanced weapon systems.
  • The alliance is also developing advanced uncrewed undersea vehicles (UUVs) and underwater drone systems for maritime security.

Source: TH

Emergency Credit Line Guarantee Scheme (ECLGS) 5.0

Syllabus: GS3/ Economy

Context

• The Government of India has received over 2.62 lakh loan applications worth ₹1.71 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0.

About

• ECLGS 5.0 is the latest version of the Emergency Credit Line Guarantee Scheme, originally introduced during the COVID-19 pandemic.
• The scheme aims to provide additional working capital support to businesses facing temporary financial stress.
  • The scheme launched in 2026 addresses financial stress faced by MSMEs and the aviation sector due to disruptions arising from the ongoing West Asia conflict.
• It allows eligible borrowers to obtain additional loans of up to 20% of their existing working capital limits.
• The scheme has a total credit support envelope of ₹2,55,000 crore (including Rs.5,000 crore for airlines).

Credit Guarantee Structure

• Guarantee coverage: For MSMEs, the government provides a 100% guarantee on the additional credit extended by banks. For non-MSME borrowers as well as the airline sector, the guarantee coverage is 90%.
  • Guarantees are provided through the National Credit Guarantee Trustee Company Limited (NCGTC).
• Tenure of Loan:
  • For MSMEs/Non MSMEs (except Airline sector): 5 years from the date of first disbursement including a moratorium of 1 year.
  • For the airline sector: 7 years from the date of first disbursement including a moratorium of 2 years.
• Tenure of Guarantee Cover: Maximum period of guarantee cover shall be co-terminus with the tenor of the loan.

Source: IE

Seafood Exports Hit record high in 2025-26

Syllabus: GS3/Economy

Context

• India’s seafood exports reached an all-time high in both volume and value during the financial year 2025-26.

About

• With shipments touching 19.72 lakh metric tonnes (MT) worth USD 8.46 billion, despite challenging global market conditions.
• Frozen shrimp continued to dominate India’s seafood exports, accounting for nearly two-thirds of total export earnings. 
  • The United States remained the largest importer of Indian frozen shrimp, followed by China. 
  • Other major destinations included the European Union, Southeast Asia, Japan, the Middle East, and several other countries.
• Frozen fish emerged as the second-largest export category, while dried seafood products ranked third.
  • Dried seafood exports witnessed particularly strong growth, registering a 78.05% increase in rupee value terms.
• Top export destinations include the United States, followed by China and the European Union (EU).
• Visakhapatnam, Jawaharlal Nehru Port Trust (JNPT), and Kochi emerged as the top three ports handling seafood export cargo during FY 2025-26.

Source: PIB