Daily Current Affairs — 12 May 2026
Daily Current Affairs · 12 May 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: 8 · History: 2
▶ Start Here — UPSC-Standard Quiz
UPSC Current Affairs MCQ — 12 May 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
Economy
Economy
11 Years of Jan Suraksha Schemes
📰 Why in News
The Government's flagship Jan Suraksha schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
✅ Quick Facts
- Over the years, these schemes have expanded affordable insurance and pension coverage to crores of citizens, especially the poor, vulnerable and…
- The Jan Suraksha schemes PMJJBY, PMSBY and APY have expanded affordable insurance and pension coverage for crores of citizens, especially the poor…
- Despite major achievements in enrolments and claim settlements
- About: The Jan Suraksha schemes were launched with the objective of providing low-cost insurance and pension benefits to economically weaker sections…
- The schemes aim to strengthen financial inclusion by protecting citizens against death, accidents and old-age financial insecurity
- About: PMJJBY is a low-cost life insurance scheme that provides financial protection against death due to any reason
- Individuals aged between 18 and 50 years with a bank or post office account are eligible to enrol under the scheme through an auto-debit facility
- Under the scheme, an insurance amount of Rs 2 lakh is paid to the nominee in case of the subscriber's death due to any cause.
- The scheme has settled claims worth Rs 21,512.50 crore for more than 10.75 lakh claims.
- It has also witnessed strong participation from women and financially excluded households
📊 Key Numbers & Data
- coverage at a premium of less than Rs 2 per day, making it affordable for low-income
- are required to pay an annual premium of Rs 436 through auto-debit from their bank or post
- Under the scheme, an insurance amount of Rs 2 lakh is paid to the nominee in case of the
- requires an annual premium payment of only Rs 20. Under PMSBY, Rs 2 lakh compensation is
- premium payment of only Rs 20. Under PMSBY, Rs 2 lakh compensation is provided in case of
- minimum monthly pension ranging from Rs 1,000 to Rs 5,000 after attaining 60 years of age.
🎯 UPSC Relevance
3. What is the significance of APY? APY provides guaranteed monthly pension support after 60 years of age
#02
History
History
Eight Years of Jan Suraksha Schemes
📰 Why in News
Recently, the three social security (Jan Suraksha) schemes Pradhan Mantri Suraksha Bima Yojana (PMSBY) , Pradhan Mantri Jeevan Jyoti Bima Yojana…
✅ Quick Facts
- PMJJBY and PMSBY were launched to ensure that the people from the unorganised section of the country are financially secure while APY was introduced…
- About: It is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to accident.
- It is administered by Public Sector General Insurance Companies (PSGICs) or any other general insurance company in partnership with banks / Post…
- Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll.
- Accidental death cum disability cover of Rs. 2 lakhs (Rs. 1 lakh in case of partial disability) for death or disability due to an accident against a…
- As of April 2023, the cumulative enrolments under the scheme have been more than 34.18 crore and an amount of Rs
- About: It is a one-year life insurance scheme renewable from year to year offering coverage for death due to any reason.
- It is administered by LIC or any other life insurance company in partnership with banks / Post office.
- Individuals in the age group of 18-50 years having a savings bank or a post office account are entitled to enroll under the scheme.
- Life cover of Rs. 2 Lakhs in case of death due to any reason against a premium of Rs. 436/- per annum.
📊 Key Numbers & Data
- due to an accident against a premium of Rs.20/- per annum. Achievements: As of April
- due to any reason against a premium of Rs. 436/- per annum. Achievements: As of April
- minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the
- 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years, based on the
#03
Economy
Economy
LIC's Approach to 'Insurance For All by 2047
📰 Why in News
The Life Insurance Corporation (LIC) of India in alignment with the 'Insurance For All by 2047' initiative
✅ Quick Facts
- The focus is on extending insurance coverage to maximum rural masses, aligning with the vision of making India a developed nation by 2047.
- LIC acknowledges the Insurance Regulatory and Development Authority of India (IRDAI) proposed 'Bima Vistar,' a composite product covering life
- The digital transformation aims to provide efficient services like claims settlement and loans at the click of a button
#04
Economy
Economy
MS Sahoo Committee for NPS Reforms
📰 Why in News
The Pension Fund Regulatory and Development Authority (PFRDA) has established a high-level committee to design a regulatory framework for assured…
✅ Quick Facts
- In a separate development, PFRDA has issued the NPS Vatsalya Scheme Guidelines 2025, providing comprehensive information on the NPS Vatsalya .
- About: It is a 15-member panel headed by MS Sahoo , former chairperson of the Insolvency and Bankruptcy Board of India (IBBI)
- Objectives: The primary objective is to formulate guidelines for legally enforceable, market-based guarantees under the NPS
- About: Introduced on 1 st January 2004, NPS is a market-linked, contributory pension scheme designed to provide individuals with a retirement income…
- Working of NPS: Administered by the PFRDA under the PFRDA Act, 2013 , NPS is funded jointly by the employee and the government
- About: NPS Vatsalya is a dedicated, long-term contributory savings scheme under the NPS designed exclusively for the financial security of minors
- Eligibility and Operational Features: Open to all Indian citizens , including NRI / OCI , below 18 years , with the minor as the sole beneficiary
- The minimum initial and annual contribution is Rs 250 , with no upper limit ; contributions can also be gifted .
- Exit rules mandate using a minimum 20% of the corpus to purchase an annuity
- It is a minimum guaranteed pension scheme mainly targeted at unorganised sector workers.
📊 Key Numbers & Data
- and the government. Employees contribute 10% o f their basic pay and dearness allowance
- pay and dearness allowance, matched by a 14% contribution from the government .
- pension liabilities to balloon from Rs 3,272 crore (1990-91) to over Rs 1.9 lakh crore
- liabilities to balloon from Rs 3,272 crore (1990-91) to over Rs 1.9 lakh crore (2020-21
- and medical treatment , limited to 25% of the minor's own contributions.
- exit . Exit rules mandate using a minimum 20% of the corpus to purchase an annuity , with
#05
Economy
Economy
Ten Years of Pradhan Mantri Jan-Dhan Yojana
📰 Why in News
The year 2024 marks the tenth year of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) . PMJDY was launched ten years ago on 28 th August, 2014 .
✅ Quick Facts
- The government aims to open more than 3 crore accounts under the PMJDY during the current financial year 2024-25.
- Account Expansion: PMJDY has moved from the modest beginning with 147 million accounts opened in March 2015 to a mammoth 520 million accounts in…
- Deposit Mobilisation : The deposit mobilisation was Rs 15,600 crore in March 2015 which increased to Rs 2.32 trillion in March 2024
- Average balance increased from Rs 1,065 in March 2015 to Rs 4,476 in March 2024, nearly quadrupling in the last decade.
- A total of 601,000 villages are mapped on the JDD app as of July 2023
- The Jan Dhan Darshak App is a mobile application that helps citizens locate banking touchpoints like branches
- Similarly, total number of RuPay card transactions at point of sale (PoS) and e-commerce have increased from 670 million in FY 2018 to 1.26 billion…
- During Covid-19 , the PMJDY accounts were instrumental in one-time ex gratia payment of Rs 500 per month for three months (April, May and June 2020)…
- It has ensured access to credit from the formal financial system for the poorest of the poor.
- The Jan Dhan-Aadhaar-Mobile (JAM) trinity has propelled the financial inclusion rate to 80% of adults from 25% in 2008
📊 Key Numbers & Data
- the PMJDY during the current financial year 2024-25. What are the Achievements of Pradhan
- crore in March 2015 which increased to Rs 2.32 trillion in March 2024. The deposit
- grew at a compound average growth rate of 30% over the last 10 years. Average balance
- 10 years. Average balance increased from Rs 1,065 in March 2015 to Rs 4,476 in March 2024
- increased from Rs 1,065 in March 2015 to Rs 4,476 in March 2024, nearly quadrupling in the
- Jan-Dhan account holders are women and 66.6% (35.37 crores) Jan Dhan accounts are in
📚 💰 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
Gig Workers: The Invisible Workforce
📰 Why in News
India's gig and platform economy is rapidly expanding, projected to grow from 1 crore workers in 202425 to 2.35 crore by 202930.
✅ Quick Facts
- About: The gig economy, as defined by the World Economic Forum (WEF) , involves the exchange of labour for money between individuals or companies via…
- Platform-Based Workers: Work via digital apps or online platforms
- Non-Platform Workers: Casual or self-employed workers in traditional sectors, part- or full-time
- For Workers: Flexible hours, multiple income streams, opportunity to work independently, skill development.
- For Consumers: Faster services, convenience, competitive pricing, wider choices.
- For Businesses/Platforms: Access to scalable workforce, lower overhead costs, ability to meet fluctuating demand efficiently.
- Expanding Digital Access: Under Digital India
- E-Commerce and Startup Boom: The rise of online businesses and startups creates demand for gig workers in logistics
- Urban Demand for Convenience: Consumers increasingly expect fast services, fueling opportunities in food delivery, ridesharing, and customer support.
- Availability of Low-Cost Labor: Rising unemployment and a surplus of semi-skilled workers drive many to accept gig work as a source of income.
#07
Economy
Economy
Pension Scheme for Traders – reporting
📰 Why in News
✅ Quick Facts
- The Union Cabinet has approved a new scheme which assures minimum monthly pension of ₹3000 per month to small shopkeepers
- All small shopkeepers and self-employed persons as well as the retail traders with GST turnover below Rs
- The scheme is based on self-declaration as no documents are required except Aadhaar and bank account
- The Government of India will make matching contribution in the subscribers' account
📊 Key Numbers & Data
- Scheme for Traders 01 Jun 2019 1 min read Tags: GS Paper – 3
- which assures minimum monthly pension of ₹3000 per month to small shopkeepers, retail
#08
Economy
Economy
National Health Mission and Janani Suraksha Yojana – reporting
📰 Why in News
✅ Quick Facts
- Janani Suraksha Yojana (JSY) is a safe motherhood intervention under the National Health Mission (NHM)
- While these States have been named Low Performing States (LPS) under the scheme
- ASHA is a trained female community health activist
- The role of an ASHA is that of a community level care provider
- National Health Mission (NHM) was launched by the government of India in 2013 subsuming the National Rural Health Mission and the National Urban…
- The main programmatic components include Health System Strengthening in rural and urban areas for – Reproductive-Maternal- Neonatal-Child and…
- The National Health Mission seeks to ensure the achievement of the following indicators: Reduce Maternal Mortality Rate (MMR) to 1/1000 live births
- Reduce Infant Mortality rate (IMR) to 25/1000 live births
- Prevention and reduction of anaemia in women aged 1549 years
- Prevent and reduce mortality & morbidity from communicable, non- communicable; injuries and emerging diseases
#09
History
History
Pradhan Mantri Matru Vandana Yojana – reporting
📰 Why in News
Pradhan Mantri Matru Vandana Yojana (PMMVY) has achieved a significant milestone by crossing one crore beneficiaries.
✅ Quick Facts
- Also, the total amount disbursed to the beneficiaries under the scheme has crossed Rs. 4,000 crores.
- Pradhan Mantri Matru Vandana Yojana (PMMVY) is a maternity benefit programme being implemented in all districts of the country with effect from 1 st…
- It is a centrally sponsored scheme being executed by the Ministry of Women and Child Development.
- Direct Benefit Transfer Scheme: Cash benefits are provided to pregnant women in their bank account directly to meet enhanced nutritional needs and…
- Target Beneficiaries: All Pregnant Women and Lactating Mothers (PW&LM)
- All eligible Pregnant Women and Lactating Mothers who have their pregnancy on or after 1 st January 2017 for the first child in the family.
- Beneficiaries receive a cash benefit of Rs. 5,000 in three installments on fulfilling the following conditions: Early registration of pregnancy
- Registration of the birth of the child and completion of first cycle of vaccination for the first living child of the family.
- PMMVY-CAS is a web based software application that enables tracking the status of each beneficiary under the scheme
- Madhya Pradesh, Andhra Pradesh, Himachal Pradesh, Dadra & Nagar Haveli and Rajasthan are the top five States/UT in the country in implementation of…
📊 Key Numbers & Data
- Beneficiaries receive a cash benefit of Rs. 5,000 in three installments on fulfilling the
- The Janani Suraksha Yojana (JSY) is a 100% centrally sponsored scheme which is being
#10
Economy
Economy
Pradhan Mantri Vaya Vandana Yojana Extended
📰 Why in News
The Union Cabinet has extended Pradhan Mantri Vaya Vandana Yojana (PMVVY) for a period of three years. This social security scheme for senior citizens will now be valid till March 2023.
✅ Quick Facts
- Earlier, the scheme was open till 31 st March, 2020.
- Initially an assured rate of return of 7.40% per annum for the year 2020-21 per annum will be provided and thereafter to be reset every year in line…
- The Finance Minister will approve an annual reset rate of return at the beginning of every financial year.
- The Pradhan Mantri Vaya Vandana Yojana was launched in 2017 by the Ministry of Finance to offer a guaranteed payout of pension to senior citizens…
- The Scheme can be purchased offline as well as online through the Life Insurance Corporation (LIC) which has been given the sole privilege to operate…
- One can invest a maximum amount of Rs. 15 lakh under PMVVY scheme. The tenure of policy is set at 10 years.
- Senior citizens can draw a minimum pension of Rs
- Pension will be payable as per the frequency of monthly, quarterly, half-yearly, yearly as chosen by the pensioner at the time of purchase.
- Aadhar has been made mandatory to avail the benefit of the scheme.
- The Government's financial liability is limited to the extent of the difference between the market return generated by LIC and the assured rate of…
📊 Key Numbers & Data
- Initially an assured rate of return of 7.40% per annum for the year 2020-21 per annum
- One can invest a maximum amount of Rs. 15 lakh under PMVVY scheme. The tenure of policy is
- by LIC and the assured rate of return (7.4% for 2020-21). The pension is based on the
- conditions. Other Benefits: Loan upto 75% of Purchase Price shall be allowed after 3
🏛️ Key Stakeholders
Union CabinetMinistry of Finance
🗞️ Wrap Up — Simple CA Quiz
Simple Current Affairs MCQ — 12 May 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.
