Can you score 10/10? Daily CA Quiz (16th May) for RBI, SBI & IBPS |

Daily Current Affairs: 16 May, 2026

Q1. India has been nominated as the Chair of the Common Criteria Development Board (CCDB) for a two-year term. What is the duration of this prestigious tenure?

(a) January 2026 – December 2027

(b) April 2026 – April 2028

(d) April 2028 – April 2029

(e) May 2026 – May 2028

Answer: b

Solution:

India has been nominated as the Chair of the Common Criteria Development Board for the period from April 2026 to April 2028.
The appointment reflects India’s growing role in the development of international IT security standards.
The leadership position was confirmed during the 1st Quarter Meeting of the Common Criteria Recognition Arrangement, held from 14 to 16 April 2026 in Tokyo, Japan.
The Common Criteria Recognition Arrangement is an international framework that enables mutual recognition of IT security certificates among member countries.
The arrangement supports international acceptance of certified secure IT products and maintains the integrity of the Common Criteria Portal, which acts as a global reference platform for certified products.
The Common Criteria Development Board functions as the technical core of the CCRA and manages the international work programme for the Common Criteria (CC) and the Common Methodology for Information Technology Security Evaluation (CEM).
The board focuses on technical standards and evaluation criteria for ensuring the security of global IT products.
India has been a member of the CCRA since 16 September 2013 as a Certificate Authorizing Nation.
Ministry of Electronics and Information Technology and the STQC Directorate represent India in the arrangement.
The STQC Directorate serves as the official certification body for IT security evaluations in India.

Q2. In May 2026, Indian athlete Aparna Dahiya won a gold medal at the 11th Sanda World Cup. In which city was this prestigious international event hosted?

(a) Beijing, China

(b) Hanoi, Vietnam

(d) New Delhi, India

(e) Tokyo, Japan

Answer: c

Solution:

Indian wushu player Aparna Dahiya won a gold medal in the women’s 52 kg category at the 11th Sanda World Cup held in Macau on 14 May 2026.
In the final, Aparna Dahiya defeated reigning world champion Thi Phuong Nga Ngo of Vietnam in straight sets.
Wushu is divided into two main competitive branches — Taolu and Sanda.
Taolu combines gymnastics and martial arts, where competitors are judged on movements such as kicks, punches, jumps, balances, sweeps, and throws.
Sanda is a modern combat sport derived from traditional wushu techniques and involves punching, kicking, throwing, wrestling, and defensive skills.

Q3. According to the data released in May 2026, India’s Wholesale Price Index (WPI) based inflation surged to a 42-month high in April 2026. What was the provisional annual inflation rate recorded?

(a) 3.88%

(b) 5.50%

(d) 8.30%

(e) 10.1%

Answer: d

Solution:

The annual rate of inflation based on the All India Wholesale Price Index (WPI) stood at 8.3% (provisional) in April 2026 compared to April 2025.
According to the Ministry of Commerce and Industry, this was the highest WPI-based inflation rate recorded in the last 42 months.
WPI inflation had stood at 3.88% in March 2026, showing a sharp rise in April.
On a month-on-month basis, WPI inflation increased to 3.86% in April from 1.52% in March, indicating growing input cost pressures.
The rise in wholesale inflation was mainly driven by higher prices of mineral oils, crude petroleum and natural gas, basic metals, manufactured products, and non-food articles.

Q4. The Ministry of Minority Affairs organised a National Conclave on “Minorities Welfare – Inclusive Development through AI for Viksit Bharat” in May 2026. What was the guiding theme of the conclave?

(a) Sabka Saath Sabka Vikas

(b) Digital Bharat for All

(d) AI for Governance

(e) Inclusive India Mission

Answer: c

Solution:

The Ministry of Minority Affairs organised the National Conclave on “Minorities Welfare – Inclusive Development through AI for Viksit Bharat” on 14 May 2026.
The conclave was held under the theme “Bhagidari Se Bhagyoday”, which means Prosperity through Participation.
The event brought together senior officials, Secretaries, and representatives from States and Union Territories across India.
The discussions focused on preparing a roadmap for transforming minority welfare through participative governance, cooperative federalism, and technology-driven public service delivery.
The conclave emphasised the use of Artificial Intelligence (AI) to improve governance and welfare initiatives for minority communities.

Q5. In May 2026, CTBC Bank Co. Ltd. became the first bank from which country to establish a branch at the GIFT City IFSC in Gandhinagar?

(a) South Korea

(b) Japan

(d) Singapore

(e) Vietnam

Answer: c

Solution:

CTBC Bank announced the opening of its new branch at Gujarat International Finance Tec-City (GIFT City) in May 2026.
With this development, CTBC Bank became the first Taiwanese bank to establish operations in India’s premier International Financial Services Centre (IFSC).
The branch was opened after receiving necessary approvals from the International Financial Services Centres Authority (IFSCA).
The move is considered a significant step toward strengthening financial and economic cooperation between India and Taiwan.

Q6. In May 2026, who was appointed as the Managing Director of Jio Platforms for a five-year term?

(a) Isha Ambani

(b) Akash Ambani

(d) Mukesh Ambani

(e) Manoj Modi

Answer: b

Solution:

In May, 2026, Jio Platforms appointed Akash Ambani as its Managing Director for a period of five years.
The appointment became effective from 9 April 2026.
The move comes ahead of the company’s proposed Initial Public Offering (IPO)

Q7. Every year, the UN selects a specific theme to highlight challenges faced by families. What is the theme for the International Day of Families 2026?

(a) Families and Climate Action

(b) Families, Inequalities and Child Wellbeing

(d) Families and Urbanization

(e) Demographic Trends and Families

Answer: b

Solution:

The International Day of Families 2026 is observed annually on 15 May to raise awareness about social, economic, and demographic issues affecting families across the world.
The day was proclaimed by the United Nations General Assembly in 1993 through a resolution declaring that 15 May would be observed every year as the International Day of Families.
The observance aims to increase understanding of issues related to families and the social and economic processes that influence family life.
The theme for International Day of Families 2026 is “Families, Inequalities and Child Wellbeing.”
The 2026 theme highlights how widening inequalities are affecting families and shaping the future and wellbeing of children.

Q8. In May 2026, R. Mukundan assumed the presidency of the Confederation of Indian Industry (CII) for 2026-27. He is the CEO of which major Indian company?

(a) Tata Steel

(b) Tata Chemicals

(d) Infosys

(e) EY India

Answer: b

Solution:

In May 2026, R Mukundan assumed charge as the President of the Confederation of Indian Industry for the term 2026–27.
He succeeded Rajiv Memani in the role.
Suchitra K Ella of Bharat Biotech International was appointed as the President-Designate of CII.
Shashwat Goenka of the RP-Sanjiv Goenka Group took charge as the Vice-President for the 2026–27 term.

Q9. In May 2026, the Government imposed a quantitative limit on gold imports under the Advance Authorisation Scheme. What is the maximum permissible quantity allowed under the revised rule?

(a) 50 kg

(b) 75 kg

(d) 125 kg

(e) 150 kg

Answer: c

Solution:

In May 2026, the Government of India imposed a limit of 100 kilograms on gold imports under the Advance Authorisation Scheme.
The scheme allows jewellery exporters to import raw materials and inputs without paying customs duty for use in export products.
The new limit was announced through a public notice issued by the Directorate General of Foreign Trade.
Under the revised rules, Advance Authorisation for gold imports will be issued subject to a maximum permissible quantity of 100 kg.
The DGFT has also made physical inspection of manufacturing facilities mandatory for all first-time applicants to verify operational status and production capacity.
Any subsequent Advance Authorisation for gold imports will be issued only after the exporter fulfils at least 50% of the export obligation.
Regional authorities of the DGFT will submit monthly reports regarding the issuance of Advance Authorisations.
Earlier, there was no upper limit on gold imports under the scheme.

Q10. In May 2026, the Government of Delhi launched a 90-day mass awareness initiative aimed at promoting fuel conservation, responsible consumption, and the use of indigenous products. What is the name of this campaign?

(a) Kam Vyay, Bharat Bhavya

(b) Swachh Urja Mission

(d) Green Mobility Drive

(e) Atmanirbhar Bharat Mein, Mera Yogdan

Answer: c

Solution:

The Government of Delhi launched a 90-day mass awareness campaign titled Mera Bharat Mera Yogdan on 14 May 2026.
The campaign aims to promote fuel conservation, responsible consumption, and support for indigenous products.
The initiative will officially begin from 15 May 2026 in line with the appeal made by Narendra Modi.
All Delhi Government offices, except essential services, will operate on a work-from-home basis for two days a week during the campaign.
The government will also issue an advisory encouraging private sector organisations to adopt work-from-home arrangements wherever feasible.
Under the initiative, every Monday will be observed as “Metro Day.”
Ministers, senior officials, and government employees will be encouraged to travel to offices using the Delhi Metro.