Daily Current Affairs Quiz 28th May 2026 for Banking & Competitive Exams |

Daily Current Affairs: 28 May, 2026

Q1. The Cabinet Committee on Economic Affairs (CCEA) has sanctioned the continuation of the umbrella “SARTHAK PDS” scheme up to March 31, 2031. What is the total Central share financial outlay allocated for this phase?

(a) ₹12,500 crore

(b) ₹18,450 crore

(d) ₹35,000 crore

(e) ₹51,120 crore

Answer: c

Solution:

The Cabinet Committee on Economic Affairs (CCEA), chaired by Narendra Modi, approved the continuation of the SARTHAK-PDS Scheme during the 16th Finance Commission award period.
The scheme has been approved with a Central outlay of ₹25,530 crore.
SARTHAK-PDS stands for “Scheme for Assistance in Ration Transport and Handling – Income with Automation in PDS.”
The CCEA also approved revised norms for Central assistance related to intra-state movement and handling of food grains and Fair Price Shop (FPS) dealers’ margins, while continuing the existing funding pattern for States and Union Territories.

Integrated Schemes under SARTHAK-PDS

The umbrella scheme integrates two ongoing schemes:
1. Assistance to State Agencies for intra-State movement of food grains and FPS dealers’ margin under the National Food Security Act, 2013.
2. SMART PDS Scheme.

Objectives of SARTHAK-PDS

The scheme aims to provide assured financial support for intra-state transportation, handling of food grains, and FPS dealer margins.
It also seeks to build a unified, citizen-centric, interoperable, and intelligent Public Distribution System (PDS) architecture to improve last-mile delivery and reduce leakages.
The merged scheme will remain operational until 31 March 2031.

Technology Integration

SARTHAK-PDS aims to modernise the Public Distribution System using technologies such as Artificial Intelligence, Machine Learning, Natural Language Processing (NLP), and Blockchain.
The scheme proposes standardized digital architecture, unified databases, real-time monitoring systems, AI-driven grievance redressal and analytics, and State Command and Control Centres for data-based oversight.
It also includes ISO-certified process frameworks to improve transparency, security, and sustainability in PDS operations.

Food Security Commitment

The Government aims to strengthen food and nutritional security for 81.35 crore beneficiaries covered under the NFSA.
The scheme builds upon earlier digitisation initiatives such as End-to-End Computerisation of TPDS, Integrated Management of PDS (IM-PDS), and SMART PDS.
Citizen-centric applications like Mera Ration, Anna Mitra, Rightful Targeting Dashboard, and Anna Sahayata are also part of the digital ecosystem.
Since 1 April 2023, the SMART PDS scheme has enabled complete digitisation of ration cards, Aadhaar seeding, automation of Fair Price Shops through e-PoS devices, online allocation, and computerised supply-chain management across 36 States and Union Territories.

Q2. As per the latest NHA Estimates for 2022-23, what is the share of Out-of-Pocket Expenditure (OOPE) as a percentage of the Total Health Expenditure (THE) in India?

(a) 64.2%

(b) 55.0%

(d) 39.4%

(e) 28.6%

Answer: c

Solution:

The Ministry of Health and Family Welfare released the National Health Accounts Estimates 2022-23 on 27 May 2026.
The report is the tenth edition of the National Health Accounts estimates prepared by the National Health Accounts Technical Secretariat under the National Health Systems Resource Centre using the System of Health Accounts (2011) framework.
The report highlighted a steady increase in government expenditure on healthcare since 2013–14, reflecting higher public investment in the health sector.

Key Findings of NHA 2022–23

Government Health Expenditure (GHE) as a share of Gross Domestic Product (GDP) increased from 1.15% in 2013–14 to 1.43% in 2022–23.
Under the revised GDP series with base year 2022–23, GHE stood at 1.48% of GDP.
The share of GHE in General Government Expenditure (GGE) increased from 3.78% to 4.89% during the same period.
Per capita Government Health Expenditure increased nearly 2.7 times, rising from ₹1,042 in 2013–14 to ₹2,786 in 2022–23.

Reduction in Out-of-Pocket Expenditure (OOPE)

Increased public spending on healthcare contributed to a decline in Out-of-Pocket Expenditure (OOPE) as a share of Total Health Expenditure (THE).
OOPE declined significantly from 64.2% of THE in 2013–14 to 43.4% in 2022–23.
During the COVID-19 pandemic, Government health expenditure rose sharply to 1.84% of GDP in 2021–22 due to measures such as ECRP-I & II and the large-scale COVID vaccination programme.
As a result, OOPE as a percentage of THE declined to 39.4% during that period.

Rise in Public Financing and Social Security Expenditure

The share of Government Health Expenditure in Total Health Expenditure increased from 28.6% in 2013–14 to 43.7% in 2022–23.
The report noted that this trend reflects progress towards a more affordable, equitable, and accessible healthcare system under the goal of Universal Health Coverage (UHC).
Social Security Expenditure (SSE) on healthcare increased from 6% of THE in 2013–14 to 9.9% in 2022–23.
SSE includes government-funded health insurance schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, medical reimbursements for government employees, and social health insurance programmes.
The share of Private Health Insurance in THE also rose from 3.4% to 9.2%, indicating greater health awareness and improved purchasing power among the population.

Q3. In May, 2026, the Union Government constituted a High-Level Committee to study demographic changes arising from illegal immigration. Who has been appointed as the Chairman of this committee?

(a) Justice Ranjan Gogoi

(b) Justice Prakash Prabhakar Naolekar

(d) Shri Balaji Srivastava

(e) Justice NV Ramana

Answer: b

Solution:

On 26 May 2026, the Union Government constituted a high-level committee to study demographic changes arising from illegal immigration and other abnormal factors.
The committee has also been tasked with recommending an appropriate institutional mechanism for population stabilisation.
The high-level committee will be chaired by former Supreme Court Judge Justice Prakash Prabhakar Naolekar.
Members of the committee include the Census Commissioner, Durga Shankar Mishra, Balaji Srivastava, and Shamika Ravi.
The Joint Secretary (Foreigners-I) in the Ministry of Home Affairs will serve as the Member Secretary of the committee.
The committee has been formed to address challenges related to demographic changes caused by infiltration and related factors.

Q4. The newly released historical sports book titled “India’s First Olympic Gold” has been authored by which of the following noted hockey historians?

(a) Shri K. Arumugam

(b) Shri Boria Majumdar

(d) Shri Harsha Bhogle

(e) Shri Navdeep Singh Gill

Answer: a

Solution:

The book India’s First Olympic Gold was released in May 2026 by P. T. Usha.
The book has been authored by hockey historian K. Arumugam.
India’s First Olympic Gold chronicles the journey of the Indian hockey team during the 1928 Summer Olympics in Amsterdam.
It highlights India’s victory over the host nation on 26 May 1928, which earned the country its first-ever Olympic gold medal.
The book also explains how hockey helped colonial India develop a distinct sporting identity separate from British rule and introduced Dhyan Chand as India’s first international sporting icon.

Q5. In the financial year 2025–26, India Post recorded its highest-ever revenue in its 170-year history. What was the total revenue achieved?

(a) ₹11,500 crore

(b) ₹12,900 crore

(d) ₹17,500 crore

(e) ₹20,100 crore

Answer: c

Solution:

Chandra Sekhar Pemmasani stated that India Post recorded revenue of ₹15,373 crore during the financial year 2025–26.
The achievement marks one of the most significant financial milestones in the 170-year history of India Post.
The Minister noted that the department’s revenue was around ₹11,500 crore in 2016.
During the intervening years, India Post recorded an average annual revenue growth of about ₹200–300 crore.
In contrast, the financial year 2025–26 witnessed an unprecedented single-year revenue increase of approximately ₹2,100 crore, which was nearly ten times the historical average growth rate.

Q6.In May, 2026, The Competition Commission of India (CCI) recently approved a joint venture between Mercuria Energy and which global arm of the Tata Group?

(a) Tata Steel Europe

(b) Tata International Singapore (Pte) Ltd

(d) Tata Global Beverages UK

(e) TCS Asia Pacific

Answer: b

Solution:

In May 2026, the Competition Commission of India approved the formation of a joint venture company between Mercuria Energy Netherlands B.V. and Tata International Singapore Pte Ltd.
The proposed combination involves Mercuria Energy Group Limited, through its subsidiary Mercuria Energy Netherlands B.V., entering into an agreement with Tata International Singapore for establishing a joint venture entity.
The new joint venture company will be established in the Dubai International Financial Centre in the United Arab Emirates.
Mercuria Energy Netherlands B.V. is part of the globally active Mercuria Energy Group, which operates in energy and commodity trading.
Mercuria’s core business includes trading in crude oil, petroleum products, biodiesel, natural gas, electricity, carbon emission rights, coal, petrochemicals, and base metals.
After completion of the transaction, the proposed target entity in DIFC will function as a joint venture of Mercuria and Tata International Singapore.
The joint venture will engage in commodities trading and investment activities, including trading in metals, minerals, agricultural commodities, and oil and gas products.
The entity is also expected to operate through subsidiaries in multiple jurisdictions, including India.

Q7. The Khadi and Village Industries Commission (KVIC) achieved sales of approximately how much during the financial year 2025–26?

(a) ₹75,000 crore

(b) ₹1 lakh crore

(d) ₹1.87 lakh crore

(e) ₹2.5 lakh crore

Answer: d

Solution:

The Khadi and Village Industries Commission achieved a historic milestone in the financial year 2025–26 by recording sales of ₹1.87 lakh crore.
Addressing a press conference in New Delhi, Manoj Kumar stated that the achievement was made possible through the efforts of millions of rural artisans across the country.
He highlighted that compared to 2013–14, KVIC recorded a remarkable 501 per cent growth in sales over the last 12 years.
During the same period, production increased by 380 per cent.
Employment generation under KVIC also registered a growth of 56 per cent over the last 12 years.
The achievement reflects the growing contribution of the khadi and village industries sector towards rural employment, self-reliance, and sustainable economic development in India.

Q8. Raja Randhir Singh, who passed away in May 2026, was a five-time Olympian who represented India in which of the following sports disciplines?

(a) Hockey

(b) Wrestling

(d) Athletics

(e) Shooting

Answer: e

Solution:

A renowned shooter, five-time Olympian and a former Honorary Secretary General of the Indian Olympic Association, Raja Randhir Singh, passed away , following prolonged illness on 27 May, 2026. He was 79.

Q9. The Supreme Court upheld the retrospective imposition of what percentage of Goods and Services Tax (GST) on online gaming companies?

(a) 5%

(b) 12%

(d) 28%

(e) 40%

Answer: d

Solution:

The Supreme Court of India on 27 May 2026 upheld the government’s retrospective imposition of 28% Goods and Services Tax on online gaming companies.
The ruling backed tax demands raised on past transactions conducted by online gaming platforms.
The judgment is expected to have major financial implications for the online gaming industry in India.

Q10. In May 2026, which aerospace startup successfully launched India’s first indigenous super-pressure balloon (SPB) named ‘VISTA’?

(a) Skyroot Aerospace

(b) Agnikul Cosmos

(d) Red Balloon Aerospace

(e) Dhruva Space

Answer: d

Solution:

Red Balloon Aerospace, a Hyderabad-based aerospace company, launched India’s first indigenous super-pressure balloon (SPB) carrying commercial payloads on 27 May 2026.
The balloon carried payloads from seven national and international partners.
Super-pressure balloons (SPBs) are high-altitude balloons designed to maintain internal pressure higher than the surrounding atmospheric pressure, allowing them to carry payloads for long durations.
The SPB, named VISTA, was launched from Indira Gandhi Stadium.
The balloon ascended to an altitude of nearly 25 kilometres during the mission.