Banking & Insurance Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
As of July 2026, how many guarantees had been issued under ECLGS 5.0?
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Correct answer: A — 4,11,497 guarantees worth ₹1,55,229 crore
Since launch, 4,11,497 guarantees worth ₹1,55,229 crore had been issued under ECLGS 5.0.
What guarantee coverage does ECLGS 5.0 give on additional loans to MSMEs?
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Correct answer: B — 100%
ECLGS 5.0 gives 100% guarantee cover on additional loans to MSMEs and 90% to other business segments.
Consider the following statements about ECLGS 5.0: 1. It was approved by the Union Cabinet on 5 May 2026. 2. MSMEs account for 98% of guarantees issued by number. 3. It gives 90% guarantee cover to MSMEs and 100% to other businesses. Which of the statements given above are correct?
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Correct answer: C — 1 and 2 only
Statements 1 and 2 are correct. Statement 3 reverses the figures: MSMEs get 100% cover and other businesses 90%.
What was the combined outlay of the Strategic Investment Plans approved at PM-SETU's 4th National Steering Committee in July 2026?
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Correct answer: A — ₹1,237.58 crore
The committee approved SIPs worth a combined ₹1,237.58 crore; ₹240.21 crore is the Odisha cluster alone and ₹60,000 crore the scheme's total outlay.
Which company is the Anchor Industry Partner for the PM-SETU ITI cluster in Gujarat approved in July 2026?
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Correct answer: D — ArcelorMittal Nippon Steel India
ArcelorMittal Nippon Steel India anchors the Surat-hub cluster in Gujarat; Jindal is in Odisha, and Apollo Med-Skills and Neuland are in Telangana.
Under Component I of PM-SETU, how many Government ITIs are to be upgraded in the hub-and-spoke model?
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Correct answer: C — 1,000 ITIs (200 hubs and 800 spokes)
PIB says Component I upgrades 1,000 Government ITIs — 200 hub ITIs and 800 spoke ITIs; the scheme outlay is ₹60,000 crore.
Where will IIM Bangalore set up its first international campus, announced in July 2026?
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Correct answer: D — Singhasari SEZ, Malang
The proposed campus will be at Singhasari Special Economic Zone, Malang, Indonesia.
What will Phase One of IIM Bangalore's Indonesia campus offer?
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Correct answer: C — Executive Education Programmes for senior executives and public-sector professionals
Phase One begins with executive education; degree-granting programmes come in Phase Two, subject to Phase One's success over the first two years.
Which Indonesian honour was conferred on PM Narendra Modi on 7 July 2026?
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Correct answer: B — Bintang Adipurna of the Republic of Indonesia
PM Modi received the Bintang Adipurna of the Republic of Indonesia, the country's highest civilian honour.
Who conferred the Bintang Adipurna on PM Modi in July 2026?
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Correct answer: A — President Prabowo Subianto
The award was conferred by the President of Indonesia, Prabowo Subianto.
Which rules did the Department of Consumer Affairs amend in July 2026 to ease verification of high-capacity weighing instruments?
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Correct answer: D — Legal Metrology (General) Rules, 2011
The Department amended the Legal Metrology (General) Rules, 2011.
After the 2026 amendment, what share of maximum capacity must standard weights cover before substitution, once a repeatability test is passed?
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Correct answer: B — 20% (one-fifth)
The requirement was reduced from 50% of maximum capacity to one-fifth (20%).
Which radio array did the international team including IIA's Dr Aru Beri use to find faint black hole activity in nearby galaxies (2026)?
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Correct answer: D — e-MERLIN
The team used the e-MERLIN radio array, seven telescopes across the UK working as an interferometer.
How many nearby galaxies were observed in the e-MERLIN survey reported by DST on 6 July 2026?
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Correct answer: B — 280
The team observed 280 nearby galaxies selected from the Palomar sample.
In which year was the Union Ministry of Cooperation created, which marked its 5th Foundation Day in July 2026?
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Correct answer: C — 2021
Amit Shah said the Ministry of Cooperation was created in 2021.
How many national-level cooperative societies exist, as stated at the Ministry of Cooperation's 5th Foundation Day?
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Correct answer: B — Nine
Shah said a total of nine national-level cooperative societies have been formed, including three newly created ones.
Bharat Beej Sahakari Samiti Limited (BBSSL), mentioned by Amit Shah in July 2026, is expected to become what within three years?
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Correct answer: A — India's largest seed production company
Shah said BBSSL will emerge as the country's largest seed production company within the next three years.
Who chaired MoSPI's Expert Committee on Energy Statistics, whose report was released on 6 July 2026?
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Correct answer: B — Dr Rangan Banerjee
The committee was chaired by Dr Rangan Banerjee, Director, IIT Delhi.
Which annual MoSPI publication did the Expert Committee on Energy Statistics review?
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Correct answer: A — Energy Statistics India
The committee comprehensively reviewed MoSPI's annual publication 'Energy Statistics India' and the energy statistics database.
How much crude steel did India produce in April–June 2026, according to the Steel Ministry?
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Correct answer: C — 42.1 Mt
Crude steel output was 42.1 Mt, up from 40.8 Mt in April–June 2025; 41.0 Mt is finished steel and 23.5 Mt hot metal.
In April–June 2026, what was India's trade position in finished steel?
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Correct answer: A — Net importer
Imports (about 2,063.9 thousand tonnes) exceeded exports (about 1,592.8 thousand tonnes), making India a net importer.
How much did the Centre release on 5 July 2026 as the first instalment (Mother Sanction) to States under VB-G-RAM-G?
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Correct answer: B — Rs 25,863 crore
Shivraj Singh Chouhan released the first instalment (Mother Sanction) of Rs 25,863 crore to the States.
According to the Rural Development Minister, what is the minimum daily wage rate that any State will now have under VB-G-RAM-G?
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Correct answer: D — Rs 300
Wage rates have been raised by about 10% on average, and no State will now have a wage rate below Rs 300 per day.
The VB-G-RAM-G Act, 2025 guarantees how many days of wage employment per financial year to a rural household whose adult members volunteer for unskilled manual work?
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Correct answer: A — 125 days
Section 5(1) of the Act provides a guarantee of not less than 125 days of wage employment per rural household per financial year, up from the earlier 100 days.
Consider the following statements about VB-G-RAM-G: 1. Its provisions came into force in all States and UTs on 1 July 2026. 2. Wage rates under it were raised by about 25% on average. 3. The first instalment is meant to let States pay wages within 15 days. Which of the statements given above are correct?
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Correct answer: C — 1 and 3 only
S.O. 2382(E) appointed 1 July 2026 for all States and UTs, and the instalment aims at wage payment within 15 days; the average wage rise was about 10%, not 25%.
Who has been invited by UNCTAD to chair the Ninth Session of the Intergovernmental Group of Experts on Consumer Protection Law and Policy (6-8 July 2026)?
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Correct answer: A — Nidhi Khare
Nidhi Khare, Secretary, Department of Consumer Affairs, was invited by UNCTAD to chair the Ninth Session.
Which country's consumer protection law and policy will undergo a voluntary peer review at the Ninth Session of UNCTAD's IGE on Consumer Protection?
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Correct answer: C — Argentina
The session includes a voluntary peer review of Argentina's consumer protection law and policy.
The United Nations Guidelines for Consumer Protection, under which UNCTAD's IGE on Consumer Protection works, were first adopted by the UN General Assembly in which year?
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Correct answer: D — 1985
The Guidelines were first adopted by General Assembly resolution 39/248 in 1985, expanded by ECOSOC in 1999 and revised by resolution 70/186 on 22 December 2015.
At which naval base in Singapore did INS Udaygiri, INS Shakti and INS Kavaratti make their port call (concluded July 2026)?
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Correct answer: B — Changi
The three ships concluded their port call at Changi Naval Base, Singapore.
INS Udaygiri, INS Shakti and INS Kavaratti, which visited Singapore in July 2026, belong to which fleet of the Indian Navy?
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Correct answer: C — Eastern Fleet
The ships are of the Eastern Fleet, led by Rear Admiral Alok Anand, Flag Officer Commanding Eastern Fleet.
How many vessels carrying fertilisers and fertiliser raw materials for India had safely crossed the Strait of Hormuz, as per the Department of Fertilizers on 5 July 2026?
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Correct answer: A — 15
A total of 15 vessels carrying fertilisers and fertiliser raw materials for India had safely crossed the Strait of Hormuz.
What was India's urea production in the first quarter (April-June) of FY 2026-27?
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Correct answer: C — 71.55 LMT
India produced 71.55 LMT of urea in April-June 2026 against a target of 67.86 LMT, beating it by 3.69 LMT.
Consider the following statements from the Department of Fertilizers update of 5 July 2026: 1. Natural gas supply to fertiliser plants has been restored to 100% after falling to nearly 65%. 2. Of the 15 vessels, 8 were carrying urea. 3. Only 5 Indian Missions abroad were involved in securing new supplies. Which of the statements given above are correct?
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Correct answer: B — 1 and 2 only
Gas supply was restored to 100% from nearly 65%, and 8 of the 15 vessels carried urea; 28 Indian Missions, not 5, played a role.
What is the approximate outlay of the Modified UDAN Scheme launched by PM Modi on 4 July 2026?
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Correct answer: D — Rs 29,000 crore over ten years
The Modified UDAN Scheme, approved on 25 March 2026, has an outlay of approximately Rs 29,000 crore over the next ten years.
How many aerodromes are to be developed from existing unserved airstrips under the Modified UDAN Scheme?
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Correct answer: A — 100
The scheme provides Rs 12,159 crore to develop 100 aerodromes from existing unserved airstrips; 200 is the number of helipads.
The UDAN (Ude Desh ka Aam Nagrik) scheme, whose next phase was launched on 4 July 2026, was originally launched in which month and year?
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Correct answer: B — October 2016
The UDAN Scheme was launched in October 2016 and has since operationalised 669 routes connecting 95 airports, heliports and water aerodromes.
Consider the following statements about the Modified UDAN Scheme: 1. It provides Viability Gap Funding of Rs 10,043 crore. 2. It provides for 200 modern helipads. 3. It promotes indigenous platforms such as HAL Dhruv and Dornier. Which of the statements given above are correct?
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Correct answer: C — 1, 2 and 3
All three are correct: VGF of Rs 10,043 crore, 200 helipads (Rs 3,661 crore) and promotion of HAL Dhruv and Dornier.
The India-Israel Bilateral Investment Agreement, which entered into force on 4 July 2026, was signed on which date?
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Correct answer: B — 8 September 2025
The BIA was signed in New Delhi on 8 September 2025 and entered into force on 4 July 2026.
Where was the India-Israel Bilateral Investment Agreement signed?
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Correct answer: D — New Delhi
The agreement was signed on 8 September 2025 in New Delhi.
Which department of the Ministry of Finance hosts the text of the India-Israel Bilateral Investment Agreement?
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Correct answer: A — Department of Economic Affairs
The PIB release says the India-Israel BIA can be accessed on the Department of Economic Affairs website.
PM Modi congratulated Keiko Fujimori on 4 July 2026 on winning the presidential election of which country?
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Correct answer: A — Peru
The PM congratulated Keiko Fujimori on her victory in the Peruvian presidential election.
Whom did Keiko Fujimori defeat in Peru's presidential runoff held on 7 June 2026?
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Correct answer: D — Roberto Sanchez
Keiko Fujimori won 50.135% of the vote against left-wing congressman Roberto Sanchez's 49.865%.
Consider the following statements about Keiko Fujimori's 2026 election: 1. It was her fourth run for the presidency of Peru. 2. She won the runoff with more than 55% of the vote. 3. She is the daughter of former President Alberto Fujimori. Which of the statements given above are correct?
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Correct answer: B — 1 and 3 only
It was her fourth run and she is Alberto Fujimori's daughter; her winning share was 50.135%, not above 55%.
Of the 23 individuals designated as terrorists by the MHA on 4 July 2026, how many are Pakistani nationals?
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Correct answer: C — 17
Of the 23 designated terrorists, 17 are Pakistani nationals and 6 are Indian nationals.
Under which law did the Ministry of Home Affairs designate 23 individuals as terrorists on 4 July 2026?
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Correct answer: A — Unlawful Activities (Prevention) Act, 1967
Amit Shah said the 23 were declared terrorists under the provisions of the Unlawful Activities (Prevention) Act.
The power to designate an individual (not only an organisation) as a terrorist under UAPA was introduced by the UAPA (Amendment) Act, 2019. Individuals are listed in which Schedule of the Act?
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Correct answer: D — Fourth Schedule
The 2019 amendment added the Fourth Schedule [see sections 35(1) and 36] for names of individuals; terrorist organisations are in the First Schedule.
To what level was the procurement price of onions for the Price Stabilisation Buffer raised from 4 July 2026?
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Correct answer: B — Rs 2,125 per quintal
The procurement price was raised by 13%, from Rs 1,875 to Rs 2,125 per quintal.
Which agencies procure onions for the government's Price Stabilisation Buffer?
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Correct answer: C — NAFED and NCCF
Procurement of onions for the Price Stabilisation Buffer is being done through NAFED and NCCF.
Under which transoceanic expedition did INS Sudarshini sail into New York on 4 July 2026 for the Sail4th 250 celebrations?
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Correct answer: C — Lokayan 2026
The visit is part of the ship's 10-month transoceanic expedition, Lokayan 2026.
On 4 July 2026, PM Modi greeted the United States on which anniversary of its independence?
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Correct answer: A — 250th
PM Modi extended greetings on the historic 250th anniversary of US independence.
What was the approximate value of the acquisition proposals cleared by the Defence Acquisition Council on 3 July 2026?
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Correct answer: A — Rs 52,000 crore
The DAC accorded AoN to proposals at an estimated cost of about Rs 52,000 crore.
'Akash Tarang', cleared for the Indian Army by the DAC on 3 July 2026, is a:
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Correct answer: C — Anti-UAV electronic warfare system
AKASH TARANG is an anti-Unmanned Aerial Vehicle electronic warfare system that will give anti-UAV protection to Army formations.
Which platform cleared by the DAC on 3 July 2026 is meant for the Indian Air Force's persistent ISR, telecommunication and remote sensing?
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Correct answer: B — Fixed-Wing High Altitude Pseudo Satellite (FW-HAPS)
FW-HAPS will carry out persistent Intelligence, Surveillance & Reconnaissance, telecommunication and remote sensing for the IAF.
Consider the following about the DAC approvals of 3 July 2026: 1. 'Acceptance of Necessity' means in-principle administrative approval. 2. The Multi Influence Ground Mine was cleared for the Indian Navy. 3. MRSAM was cleared for the Indian Army. Which of the statements given above are correct?
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Correct answer: D — 1, 2 and 3
AoN is in-principle administrative approval; MIGM was cleared for the Navy and MRSAM for the Army, so all three are correct.
The review of below-normal rainfall chaired by Amit Shah and Shivraj Singh Chouhan on 3 July 2026 linked the situation to which phenomenon?
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Correct answer: D — El Nino
The review concerned below-normal rainfall and potential drought in parts of the country due to El Nino.
Which crops did the Home Minister suggest focusing on as alternatives that need less water, at the El Nino review of 3 July 2026?
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Correct answer: B — Fodder, millets and pulses
Amit Shah emphasised the need to focus on alternative low-water crops such as fodder, millets and pulses.
How many priority districts are covered by the 90-day export drive announced at the Board of Trade meeting on 3 July 2026?
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Correct answer: C — 120
The 90-day export drive will cover 120 priority districts across 27 States and UTs under the Districts as Export Hubs initiative.
What is the outlay of the Export Promotion Mission that Piyush Goyal said will drive MSME-led export growth?
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Correct answer: D — Rs 25,000 crore
Shri Goyal said the Rs 25,000 crore Export Promotion Mission will drive MSME-led export growth.
Where was the India-France Economic and Financial Dialogue co-chaired by Nirmala Sitharaman and Roland Lescure held on 3 July 2026?
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Correct answer: B — Aix-en-Provence
The Ministers co-chaired the EFD in Aix-en-Provence.
Who co-chaired the India-France Economic and Financial Dialogue on 3 July 2026 for France?
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Correct answer: D — Roland Lescure
Roland Lescure, France's Minister of Economy, Finance, Industrial, Energy and Digital Sovereignty, co-chaired with Nirmala Sitharaman.
Which edition of the National Water Awards was launched by the Ministry of Jal Shakti on 3 July 2026?
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Correct answer: A — 7th
The Department of Water Resources launched the 7th National Water Awards on the Rashtriya Puraskar portal.
Under the CCEA decision of 2 July 2026, what is the new maximum permissible broken grain content in raw rice supplied under PMGKAY?
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Correct answer: C — 10%
Raw rice will contain up to 10% broken grains, replacing the earlier specification of up to 25%.
Consider the following statements about the PMGKAY rice quality reform approved in July 2026: 1. Parboiled rice will contain up to 5% broken grains instead of 16%. 2. Improved-quality rice will be rolled out across all procuring States by KMS 2027-28 in a phased manner. 3. Rice bags will carry QR codes for end-to-end traceability. Which of the statements given above are correct?
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Correct answer: D — 1, 2 and 3
All three are part of the approved reform: 5% broken grains in parboiled rice (from 16%), phased rollout by KMS 2027-28, and QR-code tagging of bags.
By the Cabinet decision of 29 November 2023, free foodgrains under PMGKAY are provided to about 81.35 crore beneficiaries for a period of:
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Correct answer: A — Five years from 1 January 2024
The Cabinet decided on 29 November 2023 that the Centre will provide free foodgrains to about 81.35 crore beneficiaries under PMGKAY for five years with effect from 1 January 2024, at an estimated Rs 11.80 lakh crore.
Which Japanese Prime Minister visited India from 1 to 3 July 2026 for the 16th India-Japan Annual Summit?
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Correct answer: A — Takaichi Sanae
Prime Minister Takaichi Sanae paid an official visit to India from 1-3 July 2026 for the 16th Annual Summit; it was her first official visit to India.
Under the outcomes of the 16th India-Japan Annual Summit, the year 2027, marking the 75th anniversary of diplomatic relations, will be celebrated as the:
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Correct answer: C — India-Japan Year of Shared Horizons
The outcome document outlines commemorative events to celebrate 2027, the 75th anniversary of diplomatic relations, as the India-Japan Year of Shared Horizons.
The India-Japan Cooperative Biogas for Growth (CBG) Initiative, agreed at the 16th Annual Summit, aims to establish 1,000 biogas and organic fertilizer plants by leveraging the network of:
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Correct answer: D — Dairy cooperatives
The Memorandum of Cooperation promotes the goal of 1,000 biogas and organic fertilizer plants across India by leveraging the extensive network of dairy cooperatives.
Consider the following statements about the 16th India-Japan Annual Summit (July 2026): 1. The leaders directed their Ministers to hold the fourth 2+2 Ministerial Meeting in Tokyo by the end of the year. 2. An in-principle agreement was reached on the remaining technical details of the UNICORN (Unified Complex Radio Antenna) project. 3. The Next Generation Mobility Partnership was first announced at this summit. Which of the statements given above are correct?
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Correct answer: B — 1 and 2 only
Statements 1 and 2 are in the Joint Statement. The NGMP was announced at the 15th Annual Summit in August 2025; at the 16th Summit a Memorandum of Cooperation operationalised it.
MV Golden Arsenal, the bulk carrier assisted by INS Trikand after a piracy attempt in the Gulf of Aden in July 2026, was flagged in:
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Correct answer: A — St. Vincent and the Grenadines
MV Golden Arsenal is a St. Vincent and the Grenadines-flagged bulk carrier.
The piracy attempt on MV Golden Arsenal (July 2026) was reported in coordination with which centre, after which INS Trikand was directed to intercept the vessel?
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Correct answer: B — Information Fusion Centre - Indian Ocean Region
The incident was reported in coordination with the Information Fusion Centre - Indian Ocean Region (IFC-IOR), after which INS Trikand was directed to intercept.
The July 2026 amendment to the Drugs Rules, 1945 brought cell or stem cell derived products, gene therapeutic products and xenografts under the:
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Correct answer: B — Centrally License Approving Authority (CLAA) framework
The amendment brings these products under the Centrally License Approving Authority (CLAA) framework of joint Central and State oversight.
In the context of the July 2026 amendment to the Drugs Rules, 1945, 'xenografts' refer to:
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Correct answer: C — Animal tissue-derived products such as heart valves transplanted into humans
Xenografts are animal tissue-derived products, such as heart valves, which can be transplanted into humans; they are used in cardiology and orthopaedics.
As reported at the 19th Empowered Task Force meeting on River Ganga (2 July 2026), how many projects have been sanctioned under the Namami Gange Programme so far?
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Correct answer: C — 524
524 projects worth an estimated Rs 43,031 crore have been sanctioned, of which 363 are completed.
Who chaired the 19th meeting of the Empowered Task Force on River Ganga held on 2 July 2026?
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Correct answer: D — Union Minister for Jal Shakti
The 19th ETF meeting was chaired by the Union Minister for Jal Shakti, C.R. Paatil.
According to the Ministry of Coal, what was the share of imports in India's total coal consumption in April 2026?
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Correct answer: D — 19.68%
Coal imports as a share of total consumption fell from 21.69% in April 2025 to 19.68% in April 2026.