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Current Affairs 2026 - Questions and Answers

Practice questions on Current Affairs Jan–May 2026 covering India elections, T20 World Cup, ICBM test, state elections, budget, and world events.

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361. India's RBI was established in which year?
A. 1935
B. 1947
C. 1949
D. 1955
Explanation: Reserve Bank of India (RBI) was established on April 1, 1935 under the Reserve Bank of India Act, 1934. It was nationalized in 1949.
362. India's current repo rate direction under Sanjay Malhotra (RBI Governor 2025-26) has been?
A. Easing (rate cuts to support growth)
B. Tightening (rate hikes)
C. No change
D. Emergency measures
Explanation: Under RBI Governor Sanjay Malhotra (from Dec 2024), the MPC began an easing cycle with rate cuts to support India's economic growth amidst global uncertainty.
363. India's IMPS (Immediate Payment Service) allows fund transfers?
A. 24x7 including holidays (instant bank-to-bank)
B. Only on working days
C. Only up to Rs 1,000
D. Only scheduled transfers
Explanation: IMPS (Immediate Payment Service) by NPCI enables instant 24x7 interbank fund transfers, including on holidays and weekends.
364. India's account aggregator (AA) framework is regulated by?
A. RBI (Account Aggregators as NBFC-AA)
B. SEBI
C. IRDAI
D. Ministry of Finance
Explanation: Account Aggregators (AAs) in India are licensed by RBI as a specific category of NBFC (Non-Banking Financial Company) to enable consent-based financial data sharing.
365. India's Operation Sindoor (May 2025) was a response to which terror attack?
A. Pahalgam attack (April 2025)
B. Pulwama attack (2019)
C. Uri attack (2016)
D. Parliament attack (2001)
Explanation: Operation Sindoor (May 7, 2025) was India's military strike on terrorist infrastructure in Pakistan and PoK, in response to the Pahalgam terror attack of April 22, 2025.
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