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Daily Current Affairs
2 & 3 July, 2026
1. The National Study Report on Low Participation in Gram Sabha, released on 30 June 2026, was prepared by NIRD&PR Hyderabad for which ministry?
A. Ministry of Rural Development
B. Ministry of Panchayati Raj
C. Ministry of Home Affairs
D. NITI Aayog
E. Ministry of Tribal Affairs
View Answer
Explanation: The two-volume study, prepared by NIRD&PR Hyderabad for the Ministry of Panchayati Raj, was released by NITI Aayog Member Dr. R. Balasubramaniam. It covered ~7,790 respondents across 400 Gram Panchayats in 26 States/UTs.
2. Which Article of the Constitution provides the basis for the Gram Sabha?
A. Article 243
B. Article 243A
C. Article 243B
D. Article 243-I
E. Article 243-K
View Answer
Explanation: Article 243A (inserted by the 73rd Constitutional Amendment, effective 24 April 1993) provides the constitutional basis for the Gram Sabha — the village assembly of all registered voters in a Gram Panchayat area.
3. The PESA Act, 1996 extends the provisions of the 73rd Amendment to Scheduled Areas under which Schedule of the Constitution?
A. Fourth Schedule
B. Fifth Schedule
C. Sixth Schedule
D. Seventh Schedule
E. Eleventh Schedule
View Answer
Explanation: The PESA Act, 1996 (enacted 24 December 1996) extends 73rd Amendment provisions to Fifth Schedule Scheduled Areas across 10 states. Under PESA, Gram Sabhas have powers like prior informed consent for land acquisition and mining.
4. The “Delegation of Financial Powers to DRDO (DFP-2026)”, granting DRDO enhanced financial autonomy for defence R&D, was released by:
A. PM Narendra Modi
B. Defence Minister Rajnath Singh
C. DRDO Chairman Dr. Samir V. Kamat
D. Finance Minister Nirmala Sitharaman
E. NSA Ajit Doval
View Answer
Explanation: Defence Minister Shri Rajnath Singh released DFP-2026 on 29 June 2026 in New Delhi, along with DFPDS-2026 for defence procurement. It provides dedicated funding for trial campaigns, pre-project R&D sanction authority, and separate schedules for EMRPs, DIA-CoEs and TDF grants.
5. “Swar Prerna Veethika”, a permanent photo gallery honouring legendary musicians, was inaugurated on 1 July 2026 as part of Akashvani’s ____ celebrations.
A. 50-year
B. 75-year
C. 90-year
D. 100-year
E. 60-year
View Answer
Explanation: The gallery was inaugurated by Padma Vibhushan Pt. Hariprasad Chaurasia at Akashvani Bhavan, New Delhi, as part of Akashvani’s 90-year celebrations and in the run-up to the centenary of radio broadcasting in India in 2027. AIR was officially launched on 8 June 1936 and adopted the name “Akashvani” in 1956.
6. The Himalayan Ray-Finned Fish (Schizothorax pelzami), locally called “Ngarsing”, is being conserved through a community-led drive by the Sangno clan of which tribe?
A. Apatani
B. Adi
C. Nyishi
D. Monpa
E. Galo
View Answer
Explanation: The Sangno clan of the Nyishi tribe (East Kameng district, Arunachal Pradesh) translocated 52 fingerlings from the Lapabung stream to the Richaso stream. The species, commonly known as Transcaspian marinka (family Cyprinidae), is classified as Endangered by IUCN.
7. “Vikram-1”, India’s first privately developed orbital-class rocket set for launch under Mission Aagaman, has been developed by:
A. Agnikul Cosmos
B. Skyroot Aerospace
C. Pixxel
D. Dhruva Space
E. Bellatrix Aerospace
View Answer
Explanation: Hyderabad-based Skyroot Aerospace announced a launch window of 12 July – 4 August 2026 for Vikram-1 from Satish Dhawan Space Centre-SHAR, Sriharikota. Mission “Aagaman” targets a 450 km LEO at 60° inclination, carrying satellites up to 350 kg. Skyroot’s first flight was suborbital Vikram-S (Mission Prarambh, 18 November 2022).
8. Mission SAKSHAM, launched by RBI Governor Sanjay Malhotra, is a capacity-building initiative for which sector?
A. Regional Rural Banks
B. Small Finance Banks
C. Urban Cooperative Banks
D. Payments Banks
E. NBFCs
View Answer
Explanation: Mission SAKSHAM (Sahakari Bank Kshamta Nirman), launched on 28 April 2026, is a sector-wide capacity-building initiative for UCBs. Over 24 months it will train ~1.40 lakh participants (board members, senior executives, risk/compliance/audit, IT and cybersecurity officers) through in-person and e-learning modules in a dozen-plus languages.
9. As per the RBI’s Financial Stability Report (June 2026), the GNPA ratio of Scheduled Commercial Banks declined to a multi-decadal low of ____ in March 2026.
A. 1.2%
B. 1.8%
C. 2.4%
D. 2.8%
E. 3.1%
View Answer
Explanation: The FSR June 2026 (released 30 June 2026) reported GNPA of SCBs at a multi-decadal low of 1.8% in March 2026. Under the baseline stress scenario it may rise marginally to 1.9% by March 2028, and to about 3.8–4.1% under adverse/severe stress.
10. The RBI’s Financial Stability Report reflects the collective assessment of the Sub-Committee of which body?
A. Monetary Policy Committee (MPC)
B. Financial Stability and Development Council (FSDC)
C. Central Board of RBI
D. Board for Financial Supervision
E. NITI Aayog
View Answer
Explanation: The FSR is a biannual RBI publication (June + December, first edition March 2010) reflecting the collective assessment of the FSDC Sub-Committee, which is chaired by the RBI Governor. The FSDC itself (established December 2010) is a non-statutory body chaired by the Union Finance Minister.
11. According to the FSR June 2026, which sector recorded the HIGHEST GNPA ratio at 5.1%?
A. Retail loans
B. Industry
C. Services
D. Agriculture
E. Personal loans
View Answer
Explanation: Agriculture had the highest GNPA ratio at 5.1%, accounting for 37.2% of total SCB GNPAs. Meanwhile, large borrowers’ GNPA improved from 2.4% (Sept 2024) to 1.2% (March 2026).
12. In FSR June 2026, the RBI flagged which of the following as a risk that could undermine monetary sovereignty and weaken policy transmission?
A. UPI transactions
B. Central Bank Digital Currency
C. Foreign-currency-denominated stablecoins
D. Gold ETFs
E. Green bonds
View Answer
Explanation: The RBI warned that widespread adoption of foreign-currency-denominated stablecoins could undermine monetary sovereignty, weaken policy transmission and facilitate money laundering. Other emerging risks flagged include AI-driven market optimism and fintech multi-lending (unsecured loans from 5+ lenders).
13. The two new high-oleic groundnut varieties ICGV 201214 and ICGV 181030, identified for national release, have been developed by which institute along with partners?
A. ICAR-IARI
B. ICRISAT
C. IRRI
D. CIMMYT
E. NBPGR
View Answer
Explanation: Both medium-duration Spanish bunch varieties were developed by ICRISAT — ICGV 201214 with Junagadh Agricultural University and ICGV 181030 with UAS Dharwad. They were identified by the VIC of AICRP-G under ICAR at the Annual Group Meeting held in Pune (21–23 April 2026).
14. ICGV 181030 is the FIRST high-oleic groundnut variety approved for cultivation in:
A. Gujarat and Rajasthan
B. Punjab and Haryana
C. Odisha and the Northeastern States
D. Tamil Nadu and Kerala
E. Maharashtra and MP
View Answer
Explanation: ICGV 181030 (~78% oleic acid) is the first high-oleic variety approved for Odisha and the NE States (Zone IV), and is also recommended for Zone II. High-oleic groundnuts (≥78% oleic acid) offer 5–10× longer shelf life and better cardiovascular health benefits.
15. ICRISAT, which developed the new groundnut varieties, is headquartered at:
A. New Delhi
B. Patancheru, Hyderabad
C. Junagadh, Gujarat
D. Dharwad, Karnataka
E. Pune, Maharashtra
View Answer
Explanation: ICRISAT (founded 28 March 1972) is a CGIAR-affiliated intergovernmental research centre headquartered at Patancheru, Hyderabad. Its Director General Dr. Himanshu Pathak (since 6 March 2025) is the first Indian to hold the position.
16. Farm-equipment startup Balwaan Krishi, which launched new logistics hubs in Chennai and Visakhapatnam, is headquartered in:
A. Chennai
B. Hyderabad
C. Jaipur
D. Ahmedabad
E. Indore
View Answer
Explanation: Balwaan Krishi (founded 2016 by Rohit Bajaj and Shubham Bajaj) is headquartered in Jaipur, Rajasthan. Its 14,000 sq ft Chennai hub (â‚ą50 lakh investment) will serve all 38 Tamil Nadu districts through 34 dealers and act as the gateway into Andhra Pradesh with 59 dealer partners. It launched India’s first ISI-marked agricultural equipment range in July 2023.
17. Under the RBI-Integrated Ombudsman Scheme (RB-IOS) 2026, effective 1 July 2026, the compensation limit for financial loss has been raised to:
A. â‚ą10 lakh
B. â‚ą20 lakh
C. â‚ą25 lakh
D. â‚ą30 lakh
E. â‚ą50 lakh
View Answer
Explanation: RB-IOS 2026 replaced the 2021 framework from 1 July 2026, covering banks, NBFCs, PPI issuers and credit information companies. Compensation limits were raised to â‚ą30 lakh for financial loss and â‚ą3 lakh for mental harassment.
18. The CCEA has approved reducing the broken rice content in raw rice distributed under PDS/PMGKAY from 25% to:
A. 5%
B. 10%
C. 12%
D. 15%
E. 20%
View Answer
Explanation: The Cabinet Committee on Economic Affairs approved stricter quality norms — broken rice content in raw rice reduced from 25% to 10%, and in parboiled rice from 16% to 5%. The move improves rice quality, supports ethanol production and reduces logistics costs.
19. Ravi Shankar, appointed RBI Executive Director from 1 July 2026, will head which department?
A. Department of Regulation
B. Department of Supervision
C. Department of Statistics and Information Management (DSIM)
D. Monetary Policy Department
E. Foreign Exchange Department
View Answer
Explanation: Ravi Shankar, with over 30 years of RBI experience, was appointed Executive Director w.e.f. 1 July 2026 and will head DSIM, overseeing economic statistics and survey operations.
20. The High-Level Study Group announced by the Ministry of Information & Broadcasting to examine opportunities and challenges in Indian cinema will be chaired by:
A. Anupam Kher
B. Prasoon Joshi
C. Rajkumar Hirani
D. Boney Kapoor
E. S.S. Rajamouli
View Answer
Explanation: The MIB announced two major film industry reforms — a High-Level Study Group chaired by Prasoon Joshi and Model State Cinema Regulations — aimed at improving global competitiveness and expanding cinema infrastructure.
21. The Ministry of Finance kept Small Savings Scheme interest rates unchanged for Q2 FY27. This marks the ____ consecutive quarter without revision.
A. Fifth
B. Sixth
C. Seventh
D. Eighth
E. Ninth
View Answer
Explanation: The Finance Ministry retained interest rates for all Small Savings Schemes (PPF, NSC, Sukanya Samriddhi Account etc.) for Q2 FY27 — the ninth consecutive quarter without revision.
22. The Centre signed a â‚ą34,102 crore water-sharing agreement to implement the Yamuna Water Project with which two states?
A. Haryana and Punjab
B. Haryana and Rajasthan
C. Delhi and Haryana
D. UP and Rajasthan
E. Punjab and Rajasthan
View Answer
Explanation: The Centre signed the agreement with Haryana and Rajasthan to implement the â‚ą34,102 crore Yamuna Water Project, resolving a long-pending interstate water dispute and providing drinking water and irrigation benefits to multiple districts.
23. SEBI has formed an expert group to review debenture trustee regulations. Who heads this group?
A. Tuhin Kanta Pandey
B. Ananta Barua
C. M. Damodaran
D. U.K. Sinha
E. G. Mahalingam
View Answer
Explanation: SEBI formed an expert group led by Ananta Barua to review debenture trustee regulations and recommend reforms to strengthen investor protection. Public feedback has been invited until 15 July 2026.
24. SBI Life Insurance has partnered with which institute to establish the “Bharat AI & Cyber Innovation Hub”?
A. IIT Delhi
B. IIT Madras
C. IIT Bombay
D. IISc Bengaluru
E. IIT Kanpur
View Answer
Explanation: SBI Life partnered with IIT Bombay to establish the Bharat AI & Cyber Innovation Hub, which will develop indigenous AI-driven cybersecurity solutions to strengthen digital resilience in the insurance sector.
25. The DGCA conducted India’s first satellite-based SLS approach landing trial on an Airbus A320 using GAGAN at which airport?
A. Jaipur Airport
B. Udaipur Airport
C. Kishangarh Airport
D. Surat Airport
E. Juhu Aerodrome
View Answer
Explanation: The DGCA completed India’s first SLS approach trial on an Airbus A320 using GAGAN (GPS-Aided GEO Augmented Navigation) at Udaipur Airport, demonstrating satellite-guided precision landing capability — a major aviation technology milestone.
26. Ravi Agrawal has been reappointed as Chairman of which body for six months, extending his term until 31 December 2026?
A. CBIC
B. CBDT
C. SEBI
D. CAG
E. Finance Commission
View Answer
Explanation: Ravi Agrawal was reappointed Chairman of the Central Board of Direct Taxes (CBDT) for six months, with his term now extending until 31 December 2026.
27. Vijaya Mehta, who passed away at 92 in Mumbai, was a legendary figure in which field?
A. Classical music
B. Marathi theatre and cinema
C. Kathak dance
D. Painting
E. Literature
View Answer
Explanation: Vijaya Mehta was a pioneering figure in Marathi theatre and cinema. Her contributions earned her the Padma Shri in 1987.
28. The theme of International Day of Parliamentarism 2026 (observed on 30 June) is:
A. Parliaments for the Planet
B. Gender Equality in Parliaments
C. The Future of Human Rights is Written in Parliaments
D. Youth in Parliaments
E. Digital Parliaments for Democracy
View Answer
Explanation: The UN observes International Day of Parliamentarism annually on 30 June. The 2026 theme is “The Future of Human Rights is Written in Parliaments,” highlighting the role of legislatures in democracy and governance.
29. National Doctors’ Day (1 July) commemorates the birth and death anniversary of which eminent physician?
A. Dr. B.C. Roy
B. Dr. A.P.J. Abdul Kalam
C. Dr. Homi Bhabha
D. Dr. V. Shanta
E. Dr. Devi Shetty
View Answer
Explanation: National Doctors’ Day is observed on 1 July commemorating the birth and death anniversary of Dr. Bidhan Chandra Roy. The 2026 theme is “Behind the Mask: Who Heals the Healers?”
30. National Chartered Accountants Day (1 July) marks the foundation of ICAI in 1949. The 2026 celebration marks ICAI’s ____ foundation year.
A. 75th
B. 76th
C. 77th
D. 78th
E. 80th
View Answer
Explanation: National Chartered Accountants Day marks the foundation of the Institute of Chartered Accountants of India (ICAI) on 1 July 1949. The 2026 celebration marks ICAI’s 78th foundation year.
