Daily Current Affairs — 28 April 2026
Daily Current Affairs · 28 April 2026
10 fully-analysed topics · 30 bilingual MCQs · 3 embedded videos · built for UPSC Prelims & Mains
📚 10 Topics
🎯 30 MCQs
🎬 3 Videos
🇮🇳 Hindi + English
🎯 30 MCQs
🎬 3 Videos
🇮🇳 Hindi + English
Economy: 7 · History: 3
▶ Start Here — UPSC-Standard Quiz
UPSC Current Affairs MCQ — 28 April 2026
10 UPSC-standard bilingual MCQs covering today's top stories · 10-sec timer per question
Score yourself as you go. Get a feel for how UPSC-level questions are framed around the day's news.
📰 Today’s Top 5 Current Affairs
#01
History
History
US Waiver Ends on Chabahar Port
📰 Why in News
Recently, the U.S. sanctions waiver on Iran's Chabahar Port ended on 26th April 2026, creating uncertainty over India's long-standing connectivity project through Iran to Afghanistan and Central Asia.
✅ Quick Facts
- Effect of Policies & Politics of Countries on India's Interests
- India now faces a strategic choice between reducing/exiting its involvement in the project or risking exposure to U.S. sanctions.
- To minimise sanctions risk, the government has withdrawn personnel from Chabahar, prepaid its $120 million investment commitment, and is considering…
- About: Chabahar is Iran's closest oceanic port to India , located in Sistan-Baluchistan province on the Makran coast along the Gulf of Oman
- The project provides access to Afghanistan and Central Asia bypassing Pakistan.
- Acts as a gateway to the International North-South Transport Corridor (INSTC) connecting India to Russia, Central Asia and Europe .
#02
Economy
Economy
Chabahar Port Agreement
📰 Why in News
Recently, India and Iran signed a 10-year contract for operating the Chabahar port in Iran.
✅ Quick Facts
- Effect of Policies & Politics of Countries on India's Interests
- This long-term agreement was signed between Indian Ports Global Ltd
- Signing of a long-term contract with Iran is part of India's strategic and economic vision for Central Asia and beyond.
- About: Chahabar is Iran's oceanic port nearest to India
- Chahabar Port project has two main ports called the Shahid Kalantari Port and the Shahid Beheshti Port
- India signed a memorandum of understanding (MoU) for the development of the Chabahar port in May 2015.
- In May 2016, India, Iran, and Afghanistan signed a trilateral agreement to establish the International Transport and Transit Corridor, also known as…
- The point of disagreement was the location of arbitration for disputes
- Now, both parties have agreed on a compromise that satisfies their respective interests
- Alternative Trade Route: Historically, India's access to Afghanistan and Central Asia has been largely dependent on transit routes through Pakistan
📊 Key Numbers & Data
- through INSTC route is expected to save 30% in cost and 40% in transportation time
- route is expected to save 30% in cost and 40% in transportation time, ensuring quick
- and Iran? India-Iran bilateral trade during FY 2022-23 was USD 2.33 billion , showing a
- billion , showing a year-on-year growth of 21.76%. India's export to Iran was USD 1.66
#03
History
History
UK Reaffirms Sovereignty Over Falkland Islands
📰 Why in News
Recently, the United Kingdom reaffirmed that sovereignty over the Falkland Islands rests with it , amid reports of a possible review of the U.S.
✅ Quick Facts
- The UK emphasised the principle of self-determination
- Argentina reiterated its claim over the islands (Malvinas) and called for renewed bilateral negotiations to resolve the dispute.
- The Falkland Islands (also called Malvinas) are a self-governin g British Overseas Territory in the South Atlantic Ocean
- The territory consists of two main islands East Falkland and West Falkland and several hundred smaller islands and islets.
- The islands have been under British control since 1833 (except for the brief Argentine occupation during the 1982 Falklands War)
#04
Economy
Economy
RBI Master Directions on Bad Loans
📰 Why in News
The Reserve Bank of India (RBI) has issued new Master Directions
✅ Quick Facts
- Borrower-Level NPA Classification: The most significant change is that if one loan of a borrower with multiple loans is classified as a…
- ECL calculates loss allowance across three stages: no/low credit risk, significant increase in credit risk, and credit impaired
- EIR estimations will be based on expected cash flows, considering all contractual terms except potential credit loss.
- A NPA is a loan or advance that has stopped generating income for a bank
- RBI's Trends and Progress report shows banks' asset quality improved, with gross NPAs down to 2.1% by September 2025 and net NPAs at 0.5%.
- It may later restructure or sell these bad loans to investors, with the primary aim of cleaning bank balance sheets rather than making profits.
📊 Key Numbers & Data
- quality improved, with gross NPAs down to 2.1% by September 2025 and net NPAs at 0.5%. A
- to 2.1% by September 2025 and net NPAs at 0.5%. A Bad Bank is a specialized financial
🏛️ Key Stakeholders
RBIReserve Bank
#05
Economy
Economy
RBI’s Monetary Policy
📰 Why in News
In the June 2025 Monetary Policy Committee (MPC) meeting
✅ Quick Facts
- A neutral stance gives the RBI flexibility to raise or cut rates depending on evolving inflation or growth risks
- About: Monetary policy is the process through which the RBI regulates the money supply in the economy by using various monetary instruments under its…
- Objectives: The primary objective is price stability , with inflation targeting as the primary focus
- Quantitative Tools Reserve Ratios: Cash Reserve Ratio: The percentage of a bank's Net Demand and Time Liabilities (NDTL) that must be maintained as…
- Statutory Liquidity Ratio: Banks are required to hold a fixed portion of their NDTL as liquid assets such as cash
- Repo Rate: It is the rate at which the RBI offers overnight liquidity to banks in exchange for government and other approved securities as collateral.
- Reverse Repo Rate: It is the rate at which the RBI absorbs overnight liquidity from banks in exchange for eligible government securities as…
- The bank rate is the interest rate at which the RBI lends long-term, unsecured funds to commercial banks, without collateral
- These bonds generally have a short tenure of less than six months , though the maturity period may vary as per requirements.
- Margin Requirement: It is the difference between the market value of the assets and its maximum loan value
🏛️ Key Stakeholders
RBIReserve Bank
📚 💰 Core Subject Drill — Indian Economy
💰 Indian Economy MCQ Quiz · भारतीय अर्थव्यवस्था
10 bilingual MCQs · Indian Economy · Members Only on YouTube
Today's rotation: Indian Economy. Take this break between news topics to sharpen the core concept.
📖 More Current Affairs Coverage
#06
Economy
Economy
Loan Write-Offs and NPA Reduction in PSBs
📰 Why in News
A large-scale loan write-off by banks over the past few years has contributed to a significant reduction in non-performing assets (NPAs) .
✅ Quick Facts
- As a result, banks have achieved a 12-year low NPA ratio of 2.8% of advances by March 2024.
- Loan Write-Offs: Between FY2015 and FY2024 , Indian commercial banks wrote off loans amounting to Rs 12.3 lakh crore, with Rs 9.9 lakh cror e in the…
- The peak in loan write-offs occurred in FY2019 at Rs 2.4 lakh crore , following an asset quality review initiated in 2015.
- However, write-offs have decreased since then, with FY2024 recording the lowest at Rs 1.7 lakh crore, amounting to just 1% of the total bank credit.
- Public Sector Banks' Share: Public sector banks (PSBs) accounted for 53% ( Rs 6.5 lakh crore ) of the total loan write-offs in the last 5 years (FY…
- Despite loan write-offs, the recoveries from these write-offs have been relatively low, standing at only 18.7% (Rs 1.85 lakh crore) in the last 5…
- As of September 2024, the gross NPAs of PSBs and private sector banks (PSBs) stood at Rs 3.16 lakh crore and Rs 1.34 lakh crore , respectively.
- The NPA ratio as a percentage of outstanding loans was 3.01% for PSBs and 1.86% for private sector banks.
- A wilful defaulter is a borrower or guarantor who has intentionally failed to repay a loan , with an outstanding amount of Rs 25 lakh or more.
- A large defaulter refers to a borrower with an outstanding loan balance of Rs 1 crore or more
📊 Key Numbers & Data
- have achieved a 12-year low NPA ratio of 2.8% of advances by March 2024. What is the Key
- banks wrote off loans amounting to Rs 12.3 lakh crore, with Rs 9.9 lakh cror e in the last
- at Rs 1.7 lakh crore, amounting to just 1% of the total bank credit. Public Sector
- Public sector banks (PSBs) accounted for 53% ( Rs 6.5 lakh crore ) of the total loan
- have been relatively low, standing at only 18.7% (Rs 1.85 lakh crore) in the last 5 years
- in the last 5 years (FY 2020-2024). Over 81% of the written-off amount (over Rs 8 lakh
🏛️ Key Stakeholders
RBINCLTReserve Bank
#07
Economy
Economy
India–New Zealand Free Trade Agreement
📰 Why in News
India and New Zealand signed a landmark Free Trade Agreement (FTA), marking a major milestone in bilateral ties.
✅ Quick Facts
- Effect of Policies & Politics of Countries on India's Interests
- The FTA will enter into force after the completion of all domestic procedures and ratification in both countries.
- The IndiaNew Zealand FTA provides 100% duty-free access
- It balances market access with domestic protection
- Unprecedented Market Access for Indian Exports: The FTA grants 100% duty-free access to Indian exports in New Zealand
- India gains duty-free access to key inputs like wooden logs, coking coal, and metal scrap, reducing costs and boosting manufacturing competitiveness.
- While 30% of these lines will see immediate duty elimination, the rest will undergo phased reductions over 3 to 10 years.
- Excluded Items: This includes all dairy products (milk
- The agreement includes a rebalancing clause to provide a framework for addressing any shortfall in investment delivery
- It removes caps on Indian students, allows 20 hours per week work during study , offers post-study work rights up to 34 years , and includes working…
📊 Key Numbers & Data
- Summary The IndiaNew Zealand FTA provides 100% duty-free access , boosts MSMEs, services
- Access for Indian Exports: The FTA grants 100% duty-free access to Indian exports in New
- goods. It removes earlier tariffs (up to 10%) and ensures a level playing field. India
- India has offered tariff liberalisation on 70.03% of tariff lines (covering about 95% of
- on 70.03% of tariff lines (covering about 95% of bilateral trade value). While 30% of
- about 95% of bilateral trade value). While 30% of these lines will see immediate duty
#08
Economy
Economy
India and New Zealand FTA
📰 Why in News
India and New Zealand (NZ) announced the conclusion of talks on a free-trade agreement (FTA)
✅ Quick Facts
- Effect of Policies & Politics of Countries on India's Interests
- The FTA provides zero-duty access for Indian exports, liberalizes 70% of NZ tariff lines, and safeguards sensitive sectors like dairy.
- It promotes USD 20 billion FDI, skill mobility , and services trade across 118 sectors, creating growth and employment opportunities.
- Strategically, the FTA strengthens India's global trade diversification, regional influence , and long-term economic cooperation with developed…
- Trade Liberalization: New Zealand's commitments include granting zero-duty access on 100% of Indian exports and completely eliminating the current…
- Nearly 30% of tariff lines were excluded ( dairy, certain animal products, vegetables, almonds, sugar) to protect India's dairy sector.
- A new Temporary Employment Entry visa pathway for up to 5,000 Indian professionals at any time (for up to 3 years )
- 1,000 working holiday visas annually for young Indians.
- Strategic Economic Rebalancing: The agreement represents India's 7 th trade deal since 2021 and 3 rd with a Five Eyes nation (after Australia and the…
- Access to 118 services sectors provides Indian IT, engineering, healthcare, and education firms with new opportunities .
📊 Key Numbers & Data
- access for Indian exports, liberalizes 70% of NZ tariff lines, and safeguards
- include granting zero-duty access on 100% of Indian exports and completely
- eliminating the current average tariff of 2.2% . India's Commitments: Liberalized duties
- Commitments: Liberalized duties across 70% of tariff lines (covering 95% of NZ exports
- duties across 70% of tariff lines (covering 95% of NZ exports by value ). Immediate duty
- by value ). Immediate duty elimination on 30% of tariff lines for products including
🎯 UPSC Relevance
3. What is the expected impact on bilateral trade? The FTA aims to double bilateral trade from USD 2.4 billion to USD 5 billion within five years
#09
Economy
Economy
Switzerland Suspends MFN Status to India
📰 Why in News
Switzerland has decided to rescind its unilateral application of the most-favoured-nation (MFN) clause in its Double Tax Avoidance Agreement (DTAA) with India.
✅ Quick Facts
- Switzerland will revert to the earlier withholding tax rate of 10% on Indian entities starting 1 st January 2025 .
- DTAA between India and Switzerland: DTC IN-CH (India-Switzerland Direct Tax Convention) was signed on 2 nd November 1994
- MFN Clause in Protocol: The MFN clause ensures that lower tax rates offered by India to any third-country Organisation for Economic Cooperation and…
- However, the same concessional tax rate was not extended to Switzerland .
- Following the Indian Supreme Court's ruling in 2023
- It further argued that the clause applies only to countries that were OECD members at the time of signing the 2010 protocol.
- In October 2023, India's Supreme Court ruled that Lithuania and Colombia joining the OECD after 2010 does not trigger the MFN clause, so India need…
- India and EFTA have signed the Trade and Economic Partnership Agreement (TEPA) in 2024 under which India will receive USD 100 billion as foreign…
- According to the Ministry of Commerce and Industry Switzerland's investment flows in India amounted to USD 9.95 billion between 2000 and 2023 making…
- According to the International Monetary Fund (IMF) Swiss investment stocks in India amounted to USD 35 billion in 2021
📊 Key Numbers & Data
- to the earlier withholding tax rate of 10% on Indian entities starting 1 st January
- DTAA with two OECD members i.e., Lithuania (5% tax rate on dividends) and Colombia (5%
- 5% tax rate on dividends) and Colombia (5% general tax rate on dividends). However
- and decided to revert to the earlier 10% withholding tax rate starting 1 st January
- need not lower its dividend tax rates to 5%. Lithuania and Colombia joined the OECD in
- 2025, the withholding tax rate will be 10% as the MFN clause no longer applies. 5% tax
🏛️ Key Stakeholders
IMFWTOSupreme Court
#10
History
History
India's Geographical Indication Landscape
📰 Why in News
India's Geographical Indication (GI) tags journey of over two decades faces challenges, with limited outcomes indicating the need for reforms in the registration processes.
✅ Quick Facts
- About: A geographical indication (GI) is a designation applied to products originating from a specific geographical area
- Article 22 (1) of Trade-Related Aspects of Intellectual Property Rights (TRIPS) defines GIs as "indications which identify a good as originating in…
- GI is governed under the Agreement on TRIPS at the World Trade Organisation (WTO).
- The Geographical Indications of Goods (Registration and Protection) Act
- Paris Convention emphasises protecting industrial property and geographical indications in Articles 1(2) and 10.
- Compared to other nations, India lags in GI registration
- Germany leads in GI registrations , with 15,566 registered products, followed by China (7,247), as per 2020 data with the World Intellectual Property…
- Globally, wines and spirits comprise 51.8% of registered GIs, followed by agricultural products and foodstuffs at 29.9%
- Concerns with GI Act and Registration Process: The GI Act, 1999 framed over two decades ago, requires timely amendments to address current challenges.
- Registration forms and application processing times need simplification for easier compliance
📊 Key Numbers & Data
- Globally, wines and spirits comprise 51.8% of registered GIs, followed by agricultural
- by agricultural products and foodstuffs at 29.9%. In India, handicraft (about 45%) and
- at 29.9%. In India, handicraft (about 45%) and agriculture (about 30%) comprise the
- about 45%) and agriculture (about 30%) comprise the majority of the GI products.
- application acceptance ratio is only about 46% in India. Lack of suitable institutional
🏛️ Key Stakeholders
IMFWTO
🗞️ Wrap Up — Simple CA Quiz
Simple Current Affairs MCQ — 28 April 2026
10 accessible MCQs covering the same topics · great for quick revision
End your study session with these simpler MCQs to lock in recall of today's current affairs.
