Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2026 of 14th May  2026. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2026 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) What is the name of the new 8-year strategy launched by the Government of India in partnership with IFAD to enhance rural incomes, resilience, and sustainable livelihood opportunities?

(a) National Rural Livelihood Mission (NRLM) 2030

(b) Pradhan Mantri Fasal Bima Yojana (PMFBY) 2.0

(c) Country Strategic Opportunities Programme (COSOP) 2026–2033

(d) Digital India Agri-Tech Fellowship Programme

(e) Rural Infrastructure and Climate Resilience Fund (RICRF)

2) As of 2026, what is the total size of the Bharat Maritime Insurance Pool (BMIP) launched by the Department of Financial Services?

(a) USD 500 million

(b) USD 1 billion

(c) USD 1.5 billion

(d) USD 2 billion

(e) USD 2.5 billion

3) As of 2026, under SEBI’s proposed GARUDA mechanism, Non-Accredited Investor AIF schemes will be allowed to launch within how many working days of filing documents?

(a) 5 working days

(b) 7 working days

(c) 15 working days

(d) 10 working days

(e) 30 working days

4) As of 2026, consider the following statements regarding the Goods and Services Tax Appellate Tribunal (GSTAT):

1. The Ministry of Finance empowered the Principal Bench of GSTAT, New Delhi to function as the National Appellate Authority for Advance Rulings (NAAAR).
2. The notification came into effect from April 1, 2026.
3. The Principal Bench of GSTAT is located in Mumbai.

Which of the above statements is/are correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 only

(d) 1 and 3 only

(e) 1, 2 and 3

5) As of 2026, consider the following statements regarding the Goods and Services Tax Appellate Tribunal (GSTAT):

1. GSTAT is a statutory appellate body established under the Central Goods and Services Tax Act, 2017.
2. For filing an appeal before GSTAT, 10% of the disputed tax amount must be paid, subject to a maximum cap of ₹20 crore each for CGST and SGST.
3. Members of GSTAT hold office for six years or until attaining the age of 75 years.

Which of the above statements is/are incorrect

(a) 1 only

(b) 2 only

(c) 3 only

(d) 1 and 2 only

(e) 2 and 3 only

6) As of 2026, what GDP growth rate did Moody’s project for India for Calendar Year 2027 (CY2027) in its Global Macro Outlook – May 2026 Update?

(a) 5.5%

(b) 6.0%

(c) 6.5%

(d) 7.5%

(e) 8.0%

7) As of 2026, CMS Info Systems secured a contract worth how much from HDFC Bank for managing around 6,000 ATMs?

(a) ₹100 crore

(b) ₹200 crore

(c) ₹300 crore

(d) ₹400 crore

(e) ₹500 crore

 

8) As of 2026, SEBI has proposed allowing depositories to use up to what percentage of the interest or income earned from Investor Protection Fund (IPF) investments for administrative and statutory expenses?

(a) 2%

(b) 3%

(c) 5%

(d) 7%

(e) 10%

9) As of 2026, under RBI’s Foreign Exchange Management (Authorised Persons) Regulations, Forex Correspondents (FxCs) are permitted to operate under which model?

(a) Principal–agent model

(b) Cooperative model

(c) Franchise model

(d) Public-private partnership model

(e) Direct licensing model

10) As of 2026, the Jute Crop Information System (JCIS) has been implemented in collaboration with which organisation for technology-driven monitoring of jute cultivation?

(a) Defence Research and Development Organisation (DRDO)

(b) Indian Space Research Organisation (ISRO)

(c) Council of Scientific and Industrial Research (CSIR)

(d) Indian Council of Agricultural Research (ICAR)

(e) National Remote Sensing Centre (NRSC)


11) As of 2026, which of the following labour market frameworks under the revamped Periodic Labour Force Survey (PLFS) is used for annual estimates?

(a) Usual Status only

(b) Current Weekly Status (CWS) only

(c) Both Usual Status and Current Weekly Status (CWS)

(d) Monthly Current Weekly Status only

(e) Neither Usual Status nor Current Weekly Status

12) As of 2026, the Judicial Infrastructure Advisory Committee formed to improve court infrastructure across India is headed by:

(a) Justice D.Y. Chandrachud

(b) Justice Sanjiv Khanna

(c) Justice Surya Kant

(d) Justice B.R. Gavai

(e) Justice Aravind Kumar

13) As of 2026, consider the following statements regarding the Bharat Maritime Insurance Pool (BMIP):

1. The BMIP has a total size of USD 1.5 billion with a sovereign guarantee of USD 1.4 billion.
2. It covers maritime risks including Hull & Machinery, Cargo, Protection and Indemnity (P&I), and War Risk.
3. The initiative was launched by the Ministry of Shipping as part of the Sagarmala Programme.

Which of the above statements is/are correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 only

(d) 1 and 3 only

(e) 1, 2 and 3

 

14 ) As of 2026, consider the following statements regarding the revised import duty on precious metals in India:

1. The customs duty on gold and silver has been increased from 6% to 15%.
2. The duty structure includes 10% Basic Customs Duty (BCD) and 5% Agriculture Infrastructure and Development Cess (AIDC).
3. The duty on platinum has been increased to 14.4%.

Which of the above statements is/are incorrect?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 only

(d) 3 only

(e) 1, 2 and 3

15) As of 2026, Dr. Harvansh Chawla has been appointed as the Chairman of which organisation?

(a) BRICS Chamber of Commerce & Industry (BRICS CCI)

(b) BRISEC Chamber of Commerce & Industry (BRISEC CCI)

(c) International Bar Association (IBA)

(d) Indo-USA Business Council

(e) Federation of Indian Chambers of Commerce & Industry (FICCI)

16) As of 2026, Rumen Radev, who was elected as Prime Minister, is associated with which country?

(a) Romania

(b) Hungary

(c) Serbia

(d) Slovakia

(e) Bulgaria

 

17) As of 2026, India successfully conducted the flight trial of which missile equipped with Multiple Independently Targeted Re-entry Vehicle (MIRV) technology?

(a) Agni-I

(b) Agni-II

(c) Agni-III

(d) Agni-IV

(e) Agni-

 

18) As of 2026, the Joint Aerospace Power Seminar organised by the Indian Air Force was held in_________

(a) New Delhi

(b) Bengaluru

(c) Nagpur

(d) Pune

(e) Hyderabad

 

19) As of 2026, the UAV-Launched Precision Guided Munition (ULPGM) inducted by the Indian Army was jointly developed by DRDO and which company?

(a) Hindustan Aeronautics Limited

(b) Bharat Electronics Limited

(c) Tata Advanced Systems Limited

(d) Larsen & Toubro Defence

(e) Adani Defence & Aerospace Limited

 

20)  As of 2026, the Central Government approved how much amount for installing 4,874 electric vehicle (EV) chargers across India?

a) ₹350.25 crore

(b) ₹420.10 crore

(c) ₹503.86 crore

(d) ₹612.75 crore

(e) ₹750.00 crore

21) As of 2026, NASA’s Psyche Mission captured Mars appearing as a thin glowing crescent from approximately how far away?

(a) 2.5 million km

(b) 4.8 million km

(c) 3.8 million km

(d) 5.8 million km

(e) 6.8 million km

22) As of 2026, Dhash Defense Systems Private Limited signed an MoU with which institute’s Defence Research and Innovation Foundation to strengthen indigenous defence mobility capabilities?

(a) Indian Institute of Technology Delhi (IIT Delhi)

(b) Indian Institute of Technology Bombay (IIT Bombay)

(c) Indian Institute of Technology Madras (IIT Madras)

(d) Indian Institute of Technology Ropar (IIT Ropar)

(e) Indian Institute of Science Bengaluru (IISc Bengaluru)

23) As of 2026, Confederation of Indian Industry (CII) signed an MoU with which institution to enhance digital leadership and governance in Artificial Intelligence (AI)?

(a) National University of Singapore – Institute of Systems Science (NUS-ISS)

(b) Massachusetts Institute of Technology (MIT), USA

(c) Stanford University, USA

(d) University of Oxford, UK

(e) Tsinghua University, China

24) As of 2026, D Y Patil International University signed an MoU with which company to establish an Advanced Digital Engineering and Digital Manufacturing Experience Centre?

(a) Siemens

(b) Honeywell

(c) Bosch

(d) General Electric

(e) Dassault Systèmes

25) As of 2026, Rahul Dravid has become the owner of which franchise in the European T20 Premier League (ETPL)?

(a) Dublin franchise

(b) London franchise

(c) Amsterdam franchise

(d) Edinburgh franchise

(e) Belfast franchise


Answers:

1) Answer: C

Short Explanation:

The Government of India in partnership with the International Fund for Agricultural Development (IFAD) launched a new Country Strategic Opportunities Programme (COSOP) 2026–2033 to enhance rural incomes, resilience, and sustainable livelihood opportunities across India.

The new 8-year COSOP strategy places strong emphasis on strengthening Self-Help Groups (SHGs), Farmer Producer Organisations (FPOs), and cooperatives as key grassroots institutions.

These institutions will connect rural communities with finance, technology, infrastructure, and markets to support inclusive rural development.

Detailed Explanation:

The Government of India in partnership with the International Fund for Agricultural Development (IFAD) launched a new Country Strategic Opportunities Programme (COSOP) 2026–2033 to enhance rural incomes, resilience, and sustainable livelihood opportunities across India.

The new 8-year COSOP strategy places strong emphasis on strengthening Self-Help Groups (SHGs), Farmer Producer Organisations (FPOs), and cooperatives as key grassroots institutions.

These institutions will connect rural communities with finance, technology, infrastructure, and markets to support inclusive rural development.

Over the past two decades, IFAD-supported projects in India have significantly improved women’s financial inclusion through SHGs, enhanced market access for farmers, and promoted women-led enterprises through value addition and e-commerce integration.

The COSOP aims to position India as a global knowledge leader in rural development by sharing successful models of inclusive rural finance, cooperative governance, digital agriculture services, and climate-resilient value chains with countries across Africa, Southeast Asia, and Latin America.

On the sidelines of the launch event, National Bank for Agriculture and Rural Development (NABARD) and IFAD signed a strategic partnership agreement to strengthen rural finance systems and support innovation in agriculture and allied sectors.

 

2) Answer: C

Short Explanation:

The Department of Financial Services (DFS) under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a size of USD 1.5 billion and a sovereign guarantee of USD 1.4 billion (₹12,980 crore) to ensure uninterrupted maritime insurance coverage amid global geopolitical tensions.

The BMIP covers major maritime risks including Hull & Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian-flagged or controlled vessels and ships operating to or from India.

The launch event was chaired by DFS Secretary Shri M. Nagaraju and attended by senior officials.

Detailed Explanation:

The Department of Financial Services (DFS) under the Ministry of Finance launched the Bharat Maritime Insurance Pool (BMIP) with a size of USD 1.5 billion and a sovereign guarantee of USD 1.4 billion (₹12,980 crore) to ensure uninterrupted maritime insurance coverage amid global geopolitical tensions.

The BMIP covers major maritime risks including Hull & Machinery, Cargo, Protection and Indemnity (P&I), and War Risk for Indian-flagged or controlled vessels and ships operating to or from India.

The launch event was chaired by DFS Secretary Shri M. Nagaraju and attended by senior officials.

The first Marine Hull & Machinery War Policy under BMIP was issued by New India Assurance Company Limited to Hoger Offshore and Marine Private Limited for protection against War Perils in high-risk maritime zones.

A Marine Cargo War Policy was also issued to Vedanta Sterlite Copper Ltd. for cable wire imports, while another policy was provided to Balrampur Chini Mills Limited.

The initiative was launched in the backdrop of Middle East tensions, where sanctions or geopolitical risks could lead foreign insurers and reinsurers to withdraw maritime insurance support, disrupting global trade and shipping operations.

The scheme addresses India’s dependence on the International Group (IG) Protection and Indemnity (P&I) Club for third-party maritime liability insurance

3) Answer: D

Short Explanation:

The Securities and Exchange Board of India (SEBI) has proposed a new regulatory framework called the “Green-Channel: AIF Rollout Upon Document Acknowledgement (GARUDA) mechanism” to speed up the launch process of Alternative Investment Fund (AIF) schemes in India.

The GARUDA mechanism aims to streamline the processing of Placement Memorandums (PPMs) filed with SEBI and improve ease of fundraising and capital deployment by AIFs.

For first-time AIF schemes, launch permission will be granted either from the date of SEBI registration approval or after 10 working days of filing, whichever is later.

Detailed Explanation:

The Securities and Exchange Board of India (SEBI) has proposed a new regulatory framework called the “Green-Channel: AIF Rollout Upon Document Acknowledgement (GARUDA) mechanism” to speed up the launch process of Alternative Investment Fund (AIF) schemes in India.

The GARUDA mechanism aims to streamline the processing of Placement Memorandums (PPMs) filed with SEBI and improve ease of fundraising and capital deployment by AIFs.

Under the proposed system, Non-Accredited Investor AIF schemes will be allowed to launch within 10 working days of filing documents, compared to the current 30-day waiting period, significantly reducing approval timelines.

The mechanism will also allow Angel Funds and Accredited Investor-only (AI-only) schemes to begin fundraising almost immediately after filing, improving speed and efficiency in capital markets.

For first-time AIF schemes, launch permission will be granted either from the date of SEBI registration approval or after 10 working days of filing, whichever is later.

4) Answer: A

Short Explanation:

The Ministry of Finance (MoF) empowered the Principal Bench of the Goods and Services Tax Appellate Tribunal (GSTAT), New Delhi to function as the National Appellate Authority for Advance Rulings (NAAAR).

The notification came into effect from April 1, 2026, following the recommendation of the GST Council under Section 101A(1A) of the CGST Act, 2017.

The President of GSTAT will act as the Presiding Officer of NAAAR.

Detailed Explanation:

The Ministry of Finance (MoF) empowered the Principal Bench of the Goods and Services Tax Appellate Tribunal (GSTAT), New Delhi to function as the National Appellate Authority for Advance Rulings (NAAAR).

The notification came into effect from April 1, 2026, following the recommendation of the GST Council under Section 101A(1A) of the CGST Act, 2017.

The President of GSTAT will act as the Presiding Officer of NAAAR.

The Principal Bench of GSTAT, acting as NAAAR, will resolve disputes arising from divergent advance rulings issued across different States and Union Territories (UTs) under Section 101B of the CGST Act, 2017.

The move aims to ensure a single and uniform interpretation of GST laws and reduce inconsistencies in advance rulings across jurisdictions.

The Principal Bench of GSTAT was constituted under Section 109(3) of the CGST Act, 2017 and is located in New Delhi.

The tribunal consists of a President, one Judicial Member, and two Technical Members representing the Centre and States.

 

5)Answer: C

Short Explanation:

The GSTAT is a statutory appellate body established under the Central Goods and Services Tax Act, 2017.

The GSTAT structure includes 31 State Benches in addition to the Principal Bench, spread across 45 locations nationwide for wider access.

For filing an appeal before GSTAT, 10% of the disputed tax amount must be paid (in addition to first appeal payment), subject to a maximum cap of ₹20 crore each for CGST and SGST.

Detailed Explanation:

The GSTAT is a statutory appellate body established under the Central Goods and Services Tax Act, 2017.

The GSTAT structure includes 31 State Benches in addition to the Principal Bench, spread across 45 locations nationwide for wider access.

Each State Bench consists of two Judicial Members and two Technical Members (one from Centre and one from State).

Members of GSTAT hold office for four years, or until attaining the age of 70 years (President/Judicial) and 67 years (Technical Members).

The GSTAT generally handles disputes where the tax, interest, penalty, or refund amount is up to ₹20 lakh.

Appeals involving disputes above ₹1 crore go to the High Court, while those above ₹2 crore are heard by the Supreme Court.

For filing an appeal before GSTAT, 10% of the disputed tax amount must be paid (in addition to first appeal payment), subject to a maximum cap of ₹20 crore each for CGST and SGST.

 

6) Answer: B

Short Explanation:

Moody's Ratings released its Global Macro Outlook – May 2026 Update, revising India’s Gross Domestic Product (GDP) growth forecast for Calendar Year 2026 (CY26) downward by 80 basis points to 6%, reflecting a weaker global and domestic economic outlook.

For CY2027, Moody’s further reduced India’s growth projection by 50 basis points to 6%, indicating continued moderation in medium-term growth expectations.

Detailed Explanation:

Moody's Ratings released its Global Macro Outlook – May 2026 Update, revising India’s Gross Domestic Product (GDP) growth forecast for Calendar Year 2026 (CY26) downward by 80 basis points to 6%, reflecting a weaker global and domestic economic outlook.

The downgrade is driven by weak private consumption, slower capital formation, and subdued industrial activity, along with elevated energy costs impacting overall economic momentum.

For CY2027, Moody’s further reduced India’s growth projection by 50 basis points to 6%, indicating continued moderation in medium-term growth expectations.

The outlook highlighted risks arising from the United States–Iran confrontation and ongoing shipping disruptions in West Asia, which may impact global energy supply chains.

7) Answer: D

Short Explanation:

CMS Info Systems has secured a ₹400 crore contract from HDFC Bank for managing around 6,000 ATMs for a period of five years.

The agreement is an integrated ATM managed services outsourcing contract, covering currency forecasting, cash logistics, and AI-based operational solutions.

The company will deploy its Vision AI-based monitoring solution “HAWKAI”, aimed at improving ATM uptime, security, and regulatory compliance.

Detailed Explanation:

CMS Info Systems has secured a ₹400 crore contract from HDFC Bank for managing around 6,000 ATMs for a period of five years.

The agreement is an integrated ATM managed services outsourcing contract, covering currency forecasting, cash logistics, and AI-based operational solutions.

The company will deploy its Vision AI-based monitoring solution “HAWKAI”, aimed at improving ATM uptime, security, and regulatory compliance.

The deal is expected to strengthen CMS Info Systems’ presence in the private banking sector, expanding its ATM management business footprint.

CMS Info Systems stated that revenue contribution from private sector banks is expected to rise to around 30% by FY27, up from the current 25% level.

 

8) Answer: C

Short Explanation:

Securities and Exchange Board of India (SEBI) has proposed allowing depositories to use up to 5% of the interest or income earned from Investor Protection Fund (IPF) investments for administrative and statutory expenses.

The proposal aims to bring depositories in line with existing rules already applicable to stock exchanges, ensuring uniform regulatory treatment of IPF usage.

Detailed Explanation:

Securities and Exchange Board of India (SEBI) has proposed allowing depositories to use up to 5% of the interest or income earned from Investor Protection Fund (IPF) investments for administrative and statutory expenses.

The proposal aims to bring depositories in line with existing rules already applicable to stock exchanges, ensuring uniform regulatory treatment of IPF usage.

The permitted administrative expenses may include salaries of IPF Trust employees, taxes, audit fees, Charity Commissioner fees, and other IPF-related operational costs.

SEBI clarified that if expenses exceed the 5% limit, the additional expenditure must be borne by the concerned depository from its own funds.

At present, depositories bear all IPF-related expenses from their own income, while 100% of IPF investment income is directly credited to the IPF corpus.

9) Answer: A

Short Explanation:

The Reserve Bank of India (RBI) introduced the Foreign Exchange Management (Authorised Persons) Regulations, 2026 to rationalise authorisation and renewal framework for foreign exchange dealers.

Under the revised framework, issuance of fresh licences for Full-Fledged Money Changers (FFMCs) will generally be discontinued, except for applications already under process.

Detailed Explanation:

The Reserve Bank of India (RBI) introduced the Foreign Exchange Management (Authorised Persons) Regulations, 2026 to rationalise authorisation and renewal framework for foreign exchange dealers.

Under the revised framework, issuance of fresh licences for Full-Fledged Money Changers (FFMCs) will generally be discontinued, except for applications already under process.

The regulations permit AD Category-I and AD Category-II entities to appoint Forex Correspondents (FxCs) under a principal–agent model for conducting money-changing operations.

Forex Correspondents (FxCs) are allowed to:

Buy and sell foreign currency notes, coins, and travellers’ cheques

Operate for travel-related foreign exchange requirements

Function as sub-agents under the Money Transfer Service Scheme (MTSS)

Applicants seeking authorisation as foreign exchange dealers must be companies incorporated under the Companies Act, 2013.

10) Answer: B

Short Explanation:

The Jute Crop Information System (JCIS) has been implemented to enable technology-driven monitoring of jute cultivation in India

The initiative is led by the National Jute Board in collaboration with the Indian Space Research Organisation and the Jute Corporation of India

Detailed Explanation:

The Jute Crop Information System (JCIS) has been implemented to enable technology-driven monitoring of jute cultivation in India

The initiative is led by the National Jute Board in collaboration with the Indian Space Research Organisation and the Jute Corporation of India

JCIS integrates satellite data, weather analytics, and field-level inputs into a single unified platform for crop monitoring

Two key tools developed under the system are:

BHUVAN JUMP – a mobile application for field-level data collection

PATSAN (Prospective Assessment of Jute Using Mobile App-Based Field Observations) – a web-based platform for real-time analytics

The National Jute Board has facilitated large-scale geo-tagged data collection through field networks and Crop Cutting Experiments (CCEs) using geospatial techniques

11) Answer: C

Short Explanation:

The Periodic Labour Force Survey (PLFS) conducted by the National Statistical Office under the Ministry of Statistics and Programme Implementation has been revamped from January 2025

The revised methodology aims to provide high-frequency labour market indicators for both rural and urban areas under the Current Weekly Status (CWS) framework

Annual estimates under Usual Status (Principal Status + Subsidiary Status) and Current Weekly Status (CWS)

Detailed Explanation:

The Periodic Labour Force Survey (PLFS) conducted by the National Statistical Office under the Ministry of Statistics and Programme Implementation has been revamped from January 2025

The revised methodology aims to provide high-frequency labour market indicators for both rural and urban areas under the Current Weekly Status (CWS) framework

Key objectives of the revised PLFS include:

Monthly estimates of Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR), and Unemployment Rate (UR)

Quarterly estimates for both rural and urban areas

Annual estimates under Usual Status (Principal Status + Subsidiary Status) and Current Weekly Status (CWS)

Earlier, PLFS quarterly data covered only urban areas; from April–June 2025, it includes both rural and urban areas

12) Answer: E

Short Explanation:

The Chief Justice of India Surya Kant has announced the formation of a Judicial Infrastructure Advisory Committee to improve court infrastructure across India

The committee aims to address issues such as poor facilities, outdated buildings, digital gaps, and delays in case handling

The committee will be headed by Justice Aravind Kumar

Detailed Explanation:

The Chief Justice of India Surya Kant has announced the formation of a Judicial Infrastructure Advisory Committee to improve court infrastructure across India

The committee aims to address issues such as poor facilities, outdated buildings, digital gaps, and delays in case handling

The committee will be headed by Justice Aravind Kumar

The objective is to identify infrastructure gaps and develop a national roadmap for judicial infrastructure development

The initiative focuses on strengthening infrastructure in High Courts and District Courts across different states

The committee will submit its recommendations to the Chief Justice of India, followed by coordination with the Government of India and State Governments for implementation and funding

 

13) Answer: A

Short Explanation:

The Department of Financial Services, Ministry of Finance held an event chaired by Secretary, DFS to launch the domestic insurance pool, namely 'Bharat Maritime Insurance Pool' (BMIP) of USD 1.5 billion, with a sovereign guarantee of USD 1.4 billion/₹12,980 crores to facilitate continuous maritime insurance coverages.

The pool covers all maritime risks such as Hull and Machinery, Cargo, P&I and War risk for Indian flagged or controlled vessels or vessels destined to or starting from India, in the context of the current Middle East tensions.

Detailed Explanation:

The Department of Financial Services, Ministry of Finance held an event chaired by Secretary, DFS to launch the domestic insurance pool, namely 'Bharat Maritime Insurance Pool' (BMIP) of USD 1.5 billion, with a sovereign guarantee of USD 1.4 billion/₹12,980 crores to facilitate continuous maritime insurance coverages.

The pool covers all maritime risks such as Hull and Machinery, Cargo, P&I and War risk for Indian flagged or controlled vessels or vessels destined to or starting from India, in the context of the current Middle East tensions.

The initiative aims to reduce dependence on foreign insurers and ensure uninterrupted insurance coverage for vessels and maritime assets

The pool has a total size of $1.5 billion, backed by a $1.4 billion sovereign guarantee

It provides insurance coverage for vessels operating to and from India globally

The initiative was approved by the Union Cabinet in April 2026 and is now operational

14) Answer: D

Short Explanation:

The Government of India has increased import duty on gold and silver to 15%

The move aims to protect foreign exchange reserves and support the Indian rupee amid global uncertainties

The customs duty on gold and silver has been increased from 6% to 15%

For platinum, the duty has been raised from 6.4% to 15.4%

The revised duty structure includes:

10% Basic Customs Duty (BCD)

5% Agriculture Infrastructure and Development Cess (AIDC)

Detailed Explanation:

The Government of India has increased import duty on gold and silver to 15%

The move aims to protect foreign exchange reserves and support the Indian rupee amid global uncertainties

The customs duty on gold and silver has been increased from 6% to 15%

For platinum, the duty has been raised from 6.4% to 15.4%

The revised duty structure includes:

10% Basic Customs Duty (BCD)

5% Agriculture Infrastructure and Development Cess (AIDC)

The duty hike also applies to gold dore, silver dore, coins, and findings

The decision comes amid:

Rising crude oil prices

Geopolitical tensions (especially in West Asia)

Global economic uncertainties

 

15) Answer: B

Short Explanation:

Legal expert Dr. Harvansh Chawla has been appointed as the Chairman of the BRISEC Chamber of Commerce & Industry (BRISEC CCI) after stepping down from his earlier role as Chairman of the BRICS Chamber of Commerce & Industry (BRICS CCI).

Detailed Explanation:

Legal expert Dr. Harvansh Chawla has been appointed as the Chairman of the BRISEC Chamber of Commerce & Industry (BRISEC CCI) after stepping down from his earlier role as Chairman of the BRICS Chamber of Commerce & Industry (BRICS CCI).

Dr. Harvansh Chawla is the Founder and Managing Partner of K.R. Chawla & Co. Advocates (since 1994) and is an expert in infrastructure, privatisation (including port privatisation in India), and banking transactions.

He has handled major financial deals including ABN-AMRO and Bank of America transactions, highlighting his experience in international banking and corporate law.

He is associated with global professional bodies such as the International Bar Association (IBA), Inter-Pacific Bar Association (IPBA), and Indo-USA Business Council.

16) Answer: E

Short Explanation:

The National Assembly of Bulgaria formally elected and swore in former President Rumen Radev of the Progressive Bulgaria Party as the Prime Minister of Bulgaria in Sofia, Bulgaria.

Rumen Radev secured the support of 124 out of 240 members in the Bulgarian Parliament.

Detailed Explanation:

The National Assembly of Bulgaria formally elected and swore in former President Rumen Radev of the Progressive Bulgaria Party as the Prime Minister of Bulgaria in Sofia, Bulgaria.

Rumen Radev secured the support of 124 out of 240 members in the Bulgarian Parliament.

The election marked Bulgaria’s eighth parliamentary election in five years, following the collapse of former Prime Minister Rosen Zhelyazkov’s government in December 2025.

Rumen Radev holds the rank of Major General and previously served as a professional fighter pilot.

He was the Commander of the Bulgarian Air Force from 2014 to 2016.

He served as the President of Bulgaria from 2017 and was re-elected in 2021.

 

17) Answer: E

Short Explanation:

India successfully conducted the flight-trial of an advanced Agni missile equipped with Multiple Independently Targeted Re-entry Vehicle (MIRV) technology from Dr APJ Abdul Kalam Island, Odisha.

The missile was tested with multiple payloads, each capable of striking different targets spread across a large geographical area in the Indian Ocean Region.

The trial demonstrated India’s capability to simultaneously engage multiple strategic targets using a single missile system through MIRV technology.

Detailed Explanation:

India successfully conducted the flight-trial of an advanced Agni missile equipped with Multiple Independently Targeted Re-entry Vehicle (MIRV) technology from Dr APJ Abdul Kalam Island, Odisha.

The missile was tested with multiple payloads, each capable of striking different targets spread across a large geographical area in the Indian Ocean Region.

The trial demonstrated India’s capability to simultaneously engage multiple strategic targets using a single missile system through MIRV technology.

The entire missile trajectory from lift-off to payload impact was tracked using multiple ground-based and ship-based telemetry and tracking stations.

Flight data confirmed that all mission objectives were successfully achieved, validating the system’s performance.

The missile has been developed by Defence Research and Development Organisation (DRDO) laboratories with support from Indian industries, reflecting strong indigenous defence capability.

 

18) Answer: C

Short Explanation:

Headquarters Maintenance Command of the Indian Air Force (IAF), in collaboration with the Centre for Airpower and Strategic Studies (CAPSS), organised a one-day Joint Aerospace Power Seminar at Nagpur.

The seminar was conducted on the theme “Efficient Maintenance and Atmanirbharta Enablers of Airpower”, focusing on maintenance efficiency and self-reliance in strengthening India’s aerospace capability.

Detailed Explanation:

Headquarters Maintenance Command of the Indian Air Force (IAF), in collaboration with the Centre for Airpower and Strategic Studies (CAPSS), organised a one-day Joint Aerospace Power Seminar at Nagpur.

The seminar was conducted on the theme “Efficient Maintenance and Atmanirbharta Enablers of Airpower”, focusing on maintenance efficiency and self-reliance in strengthening India’s aerospace capability.

The event brought together senior military leaders, domain experts, strategic thinkers, and operational stakeholders to discuss the role of maintenance systems in enhancing operational readiness and national security.

Air Marshal Yalla Umesh, VSM, PhD, Air Officer Commanding-in-Chief, Maintenance Command, attended the seminar as the Chief Guest

19) Answer: E

Short Explanation:

The Indian Army (IA) inducted two indigenous combat systems under the Emergency Procurement-6 (EP-6) programme — the UAV-Launched Precision Guided Munition (ULPGM) and AGNIKAA VTOL-1 First-Person View (FPV) Kamikaze Drone — from Adani Defence & Aerospace Limited in Hyderabad, Telangana.

The induction took place after successful high-altitude, Electronic Warfare (EW), and precision-strike trials conducted in the presence of officials from the Western Command of the Indian Army.

The ULPGM was jointly developed by the Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) and Adani Defence & Aerospace Limited.

Detailed Explanation:

The Indian Army (IA) inducted two indigenous combat systems under the Emergency Procurement-6 (EP-6) programme — the UAV-Launched Precision Guided Munition (ULPGM) and AGNIKAA VTOL-1 First-Person View (FPV) Kamikaze Drone — from Adani Defence & Aerospace Limited in Hyderabad, Telangana.

The induction took place after successful high-altitude, Electronic Warfare (EW), and precision-strike trials conducted in the presence of officials from the Western Command of the Indian Army.

The ULPGM was jointly developed by the Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) and Adani Defence & Aerospace Limited.

The ULPGM is India’s first indigenous loitering munition in its category and is equipped with an Imaging Infrared (IIR) seeker for precision targeting.

The system can be launched from Unmanned Aerial Vehicles (UAVs) and is capable of striking both stationary and moving targets in all-weather, day-night, GPS-denied, and communication-jammed environments.

The ULPGM has an operational UAV range of up to 20 km, a strike range of 2.5 km, carries a 2-kg warhead, and offers targeting accuracy of about one metre CEP (Circular Error Probable).

20) Answer: C

Short Explanation:

The Central Government has approved proposals worth ₹503.86 crore for installing 4,874 electric vehicle (EV) chargers across various States and Central Public Sector Enterprises (CPSEs).

The implementation involves major CPSEs such as Hindustan Petroleum Corporation Limited. (HPCL), Indian Oil Corporation Ltd. (IOCL), and Bharat Petroleum Corporation Ltd. (BPCL), along with states including Rajasthan, Andhra Pradesh, Uttar Pradesh, Gujarat, Kerala, Telangana, Karnataka, and Tamil Nadu.

Detailed Explanation:

The Central Government has approved proposals worth ₹503.86 crore for installing 4,874 electric vehicle (EV) chargers across various States and Central Public Sector Enterprises (CPSEs).

The implementation involves major CPSEs such as Hindustan Petroleum Corporation Limited. (HPCL), Indian Oil Corporation Ltd. (IOCL), and Bharat Petroleum Corporation Ltd. (BPCL), along with states including Rajasthan, Andhra Pradesh, Uttar Pradesh, Gujarat, Kerala, Telangana, Karnataka, and Tamil Nadu.

H.D. Kumaraswamy announced the launch of the Unified Bharat e-Charge (UBC) platform, described as a “UPI for EV charging” to enhance digital mobility infrastructure.

The platform aims to provide a “One Nation, One App” system, enabling EV users to locate, book, access, and pay for charging stations across multiple networks through a single unified interface.

21) Answer: B

Short Explanation:

The National Aeronautics and Space Administration’s (NASA) Psyche Mission captured a rare image of Mars appearing as a thin glowing crescent during its deep-space journey.

At the time of imaging, the Psyche spacecraft was approximately 4.8 million kilometres away from Mars, showcasing its advanced long-distance imaging capability.

Detailed Explanation:

The National Aeronautics and Space Administration’s (NASA) Psyche Mission captured a rare image of Mars appearing as a thin glowing crescent during its deep-space journey.

At the time of imaging, the Psyche spacecraft was approximately 4.8 million kilometres away from Mars, showcasing its advanced long-distance imaging capability.

The spacecraft is not travelling to Mars but is using the planet’s gravity for a “gravity assist” manoeuvre to increase speed and save fuel on its journey toward the metal-rich asteroid Psyche.

NASA launched the Psyche spacecraft on 13 October 2023 with the objective of studying the asteroid Psyche, believed to be rich in metals and possibly the exposed core of an early planet.

The asteroid Psyche’s gravity is expected to capture the spacecraft in late July 2029, while the mission’s prime scientific operations will begin in August 2029.

22) Answer: D

Short Explanation:

Dhash Defense Systems Private Limited (DDS) and IIT Ropar Defence Research and Innovation Foundation have signed a Memorandum of Understanding (MoU) to strengthen indigenous defence mobility capabilities

The partnership focuses on advanced ground mobility systems, including:

Unmanned Ground Vehicles (UGVs)

Robotic Combat Vehicles (RCVs)

All-terrain and specialised mobility platforms

Detailed Explanation:

Dhash Defense Systems Private Limited (DDS) and IIT Ropar Defence Research and Innovation Foundation have signed a Memorandum of Understanding (MoU) to strengthen indigenous defence mobility capabilities

The partnership focuses on advanced ground mobility systems, including:

Unmanned Ground Vehicles (UGVs)

Robotic Combat Vehicles (RCVs)

All-terrain and specialised mobility platforms

The initiative emphasises Indigenously Designed, Developed and Manufactured (IDDM) solutions with high local content

The collaboration includes a joint Research and Development (R&D) programme in autonomous systems, robotics, and next-generation mobility platforms

The platforms will be designed for extreme environments such as:

High-altitude regions

Deserts

Forests

Coastal areas

 

23) Answer: A

Short Explanation:

Confederation of Indian Industry (CII) and National University of Singapore – Institute of Systems Science (NUS-ISS) have signed a Memorandum of Understanding (MoU) to enhance digital leadership and governance in Artificial Intelligence (AI)

The MoU was exchanged at the CII Annual Business Summit in the presence of N. Chandrababu Naidu and Simon Wong

The partnership aims to strengthen India’s digital transformation ecosystem and build AI leadership capabilities among enterprises

Detailed Explanation:

Confederation of Indian Industry (CII) and National University of Singapore – Institute of Systems Science (NUS-ISS) have signed a Memorandum of Understanding (MoU) to enhance digital leadership and governance in Artificial Intelligence (AI)

The MoU was exchanged at the CII Annual Business Summit in the presence of N. Chandrababu Naidu and Simon Wong

The partnership aims to strengthen India’s digital transformation ecosystem and build AI leadership capabilities among enterprises

Under the collaboration, both organisations will jointly deliver the ‘Leadership Programme on Artificial Intelligence and Governance’

The programme is designed for:

Board members

Chief Executive Officers (CEOs)

Senior executives and decision-makers

 

24) Answer: E

Short Explanation:

D Y Patil International University (DYPIU) has signed a Memorandum of Understanding (MoU) with Dassault Systèmes

The partnership aims to establish an Advanced Digital Engineering and Digital Manufacturing Experience Centre on campus

The initiative focuses on strengthening industry–academia collaboration and enhancing student employability

Detailed Explanation:

D Y Patil International University (DYPIU) has signed a Memorandum of Understanding (MoU) with Dassault Systèmes

The partnership aims to establish an Advanced Digital Engineering and Digital Manufacturing Experience Centre on campus

The initiative focuses on strengthening industry–academia collaboration and enhancing student employability

The Experience Centre will integrate advanced digital technologies into the Smart Manufacturing curriculum

It is among the first such initiatives in Maharashtra to create industry-ready talent

The centre will include NextGen Product Innovation Lab, Intelligent Production System Lab, and Virtual Twin and Simulation Lab with Virtual Reality (VR)

The collaboration will provide live projects, certification programmes, internships, and industry interactions

 

25) Answer: A

Short Explanation:

Rahul Dravid, former Indian cricketer, has become the owner of the Dublin franchise in the European T20 Premier League (ETPL)

The European T20 Premier League (ETPL) is Europe’s first International Cricket Council (ICC)-sanctioned multi-country franchise T20 league

Detailed Explanation:

Rahul Dravid, former Indian cricketer, has become the owner of the Dublin franchise in the European T20 Premier League (ETPL)

The European T20 Premier League (ETPL) is Europe’s first International Cricket Council (ICC)-sanctioned multi-country franchise T20 league

The league aims to promote and accelerate the growth of cricket in Europe

It is a multi-country tournament involving cricket boards of:

Ireland

Scotland

Netherlands