Daily Current Affairs Quiz 1st May 2026 for Banking & Competitive Exams |

Daily Current Affairs: 1st May, 2026

Q1. To curb the menace of misleading performance claims by financial intermediaries, SEBI has operationalised a dedicated verification agency. Which of the following entities has been officially recognized by SEBI to act as the “PaRRVA”?

(a) CRISIL Limited

(b) ICRA Limited

(d) India Ratings and Research

(e) Securities and Exchange Board of India (Internal Cell)

Answer: c

Solution:

The Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency (PaRRVA) to enhance transparency and investor protection.
CARE Ratings Limited has been recognised as the PaRRVA.
The National Stock Exchange of India Limited will function as the PaRRVA Data Centre (PDC).
The initiative is based on a framework issued by SEBI on 4 April 2025.
The pilot phase of PaRRVA was launched in December 2025, and after its successful completion, full operations will begin from 4 May 2026.
PaRRVA will allow regulated entities such as investment advisers, research analysts, and algorithmic trading service providers to display their verified performance records.
It will enable investors to access reliable and authenticated performance data, supporting better investment decisions.
Regulated entities will also be allowed to use PaRRVA-verified data in advertisements, in accordance with SEBI guidelines.

Q2. The Ministry of Panchayati Raj released the PAI 2.0 Report on National Panchayati Raj Day 2026. Which of the following correctly describes the percentage of participating Gram Panchayats that were placed in the “Performer” category based on their composite scores?

(a) 97.30%

(b) 45.72%

(d) 12.45%

(e) 33.15%

Answer: b

Solution:

The Ministry of Panchayati Raj released the Panchayat Advancement Index (PAI) 2.0 Report (FY 2023–24) on 24 April 2026, marking National Panchayati Raj Day.
PAI 2.0 acts as a performance report card for Gram Panchayats, supporting data-driven governance and rural development.
A total of 3,635 Gram Panchayats were placed in the Front Runner category, while 1,18,824 Gram Panchayats (about 45.72%) fell under the Performer category.
The top-performing themes include Poverty-Free and Enhanced Livelihoods and Healthy Panchayats.
Under the livelihoods theme, 3,313 Gram Panchayats achieved A+ grade, reflecting strong outcomes in poverty reduction and livelihood generation.
Under the health theme, 1,015 Gram Panchayats secured A+ grade, highlighting progress in healthcare, nutrition, sanitation, and community participation.
The report recorded 97.30% participation, with 2,59,867 Gram Panchayats across 33 States/UTs submitting validated data, a significant improvement over PAI 1.0.
Key improvements in PAI 2.0 include a single integrated data entry system, mandatory Gram Sabha validation, enhanced data accuracy mechanisms, real-time dashboards, and vernacular language support.
The index evaluates Panchayats using 150 indicators and 230 data points across themes such as poverty, health, water, environment, infrastructure, governance, and women’s empowerment.
Compared to PAI 1.0, the framework has been streamlined from 516 indicators to 150, improving usability and focus.
Gram Panchayats are classified into five categories—Achiever, Front Runner, Performer, Aspirant, and Beginner—based on composite scores.
Overall, PAI 2.0 strengthens evidence-based planning, transparency, and grassroots governance, supporting the vision of Viksit Gram Panchayat.

Q3. West Bengal recorded its highest-ever voter turnout since Independence in the 2026 Assembly elections. What was the final combined polling percentage across the two phases?

(a) 92.47%

(b) 84.72%

(d) 91.66%

(e) 93.61%

Answer: a

Solution:

West Bengal recorded a historic voter turnout of 92.47% in the two-phase Assembly elections, the highest since Independence.
In Phase 1 (23 April 2026), voter turnout was 93.19%, while Phase 2 recorded 91.66% (as of 7:45 pm).
The combined turnout across both phases stood at 92.47%.
The state has a total voter base of 6.81 crore electors.
According to the Election Commission of India, women voters recorded higher participation (92.28%) compared to men (91.07%).
This surpasses the previous highest turnout in the state, which was 84.72% in the 2011 Assembly elections.
At the national level, Tripura holds the record for the highest voter turnout (93.61%) in the 2013 Assembly elections.

Q4. In April 2026, a landmark 70-year lease agreement was signed to establish India’s first Basmati & Organic Training Centre-cum-Demo Farm. In which district of Uttar Pradesh is this facility being developed?

(a) Varanasi

(b) Pilibhit

(d) Saharanpur

(e) Bareilly

Answer: b

Solution:

Recently, in April, 2026, A 70-year lease agreement has been signed to establish a Basmati & Organic Training Centre-cum-Demo Farm at Tanda Bijaisi, Pilibhit, Uttar Pradesh.
The agreement involves the Agricultural and Processed Food Products Export Development Authority, the Department of Agriculture, and the Government of Uttar Pradesh.
The centre will be developed over an area of approximately seven acres.
It will include facilities such as an auditorium, museum and gallery on Basmati and organic farming, conference room, laboratory, and storage space.
The facility aims to support training and capacity building for farmers engaged in Basmati and organic cultivation.
It will also function as a resource centre for agricultural experts and students.
Once operational, it will become India’s first integrated training and demonstration farm for both conventional and organic Basmati cultivation.
Due to its strategic location, the centre will benefit farmers and stakeholders in Uttar Pradesh and Uttarakhand.

Q5. In April 2026, the Ministry of Statistics and Programme Implementation (MoSPI) organized a National Deliberative Summit to address data silos in governance. In which of the following cities was this summit held?

(a) New Delhi

(b) Hyderabad

(d) Bengaluru

(e) Pune

Answer: c

Solution:

The Ministry of Statistics and Programme Implementation organised a National Deliberative Summit on “Harmonizing Administrative Data for Governance”.
The summit was held on 29–30 April 2026 in Bhubaneswar, Odisha.
It aimed to build consensus on action plans and timelines for harmonising administrative data across governments.
The event witnessed participation from around 300 stakeholders, including representatives from 31 States/UTs, Central Ministries, researchers, and technical experts.
Participants also included experts from international organisations, academic institutions, and private sector entities.
The discussions focused on adopting common data standards and interoperable systems.

Q6. Which Hyderabad-based DRDO laboratory is the lead agency for the development of the Naval Anti-Ship Missile-Short Range (NASM-SR)?

(a) Combat Vehicles Research and Development Establishment (CVRDE)

(b) Research Centre Imarat (RCI)

(d) Snow and Avalanche Study Establishment (SASE)

(e) Aeronautical Development Agency (ADA)

Answer: b

Solution:

The Defence Research and Development Organisation and the Indian Navy successfully conducted the maiden salvo launch of the Naval Anti-Ship Missile – Short Range (NASM-SR) in April 2026.
The test was carried out off the coast of the Bay of Bengal near Odisha.
NASM-SR is India’s first indigenous helicopter-launched anti-ship missile.
It is designed to replace the ageing Sea Eagle missile currently deployed on naval helicopters.
The missile has been developed by the Research Centre Imarat, along with other DRDO laboratories.
The system enhances the Navy’s capability to engage enemy ships at short range with precision.

Q7. The United Arab Emirates (UAE) has announced its withdrawal from OPEC effective May 2026. In which year was OPEC originally established?

(a) 1945

(b) 1967

(d) 1991

(e) 1960

Answer: e

Solution:

The United Arab Emirates has announced its exit from the Organization of the Petroleum Exporting Countries and the broader OPEC+ alliance, effective 1 May 2026.
The decision follows a comprehensive review of national oil production policy, capacity, and long-term economic priorities.

About OPEC:

The Organization of the Petroleum Exporting Countries is a permanent intergovernmental organisation of oil-exporting countries.
It was established in 1960 by founding members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
The primary objective of OPEC is to stabilise global oil markets, ensure fair prices for producers, and maintain steady supply for consumers.
The organisation is headquartered in Vienna, Austria.
OPEC has 12 member countries, including Algeria, Congo, Equatorial Guinea, Gabon, Libya, Nigeria, and the UAE (till April 2026).

Q8. The World Health Organization (WHO) has designated a specific theme for the 2026 observance of World Immunization Week to highlight the long-term benefits of vaccines. What is the theme?

(a) Vaccines Bring Us Closer

(b) Long Life for All

(d) Protected Together: Vaccines Work

(e) Humanly Possible: Immunization for All

Answer: c

Solution:

World Immunization Week is observed every year in the last week of April (24–30 April).
The initiative is led by the World Health Organization.
The week aims to promote the life-saving benefits of vaccines for people of all ages against vaccine-preventable diseases.
It highlights the importance of collective action and global awareness to improve immunization coverage.
The theme for 2026 is “For every generation, vaccines work.”
The theme emphasises that vaccines have protected individuals, families, and communities across generations and will continue to do so.

Q9. In April 2026, Annalena Baerbock visited India for the first time in her capacity as the head of a major international body. Which organization does she currently lead as President?

(a) European Union Commission

(b) United Nations General Assembly (UNGA)

(d) World Trade Organization (WTO)

(e) G20 Secretariat

Answer: b

Solution:

Annalena Baerbock visited India on 27–28 April 2026, marking her first visit after assuming office.
During the visit, she met S. Jaishankar in New Delhi.
The discussions focused on key global issues including:
- Reforms in the United Nations system
- Sustainable Development Goals (SDGs)
- Artificial Intelligence (AI)
- Concerns and priorities of the Global South
Both sides emphasised the need for strengthened multilateral cooperation.