Daily Current Affairs โ 12 May 2026
Daily Current Affairs ยท 12 May 2026
10 fully-analysed topics ยท 30 bilingual MCQs ยท 3 embedded videos ยท built for UPSC Prelims & Mains
๐ 10 Topics
๐ฏ 30 MCQs
๐ฌ 3 Videos
๐ฎ๐ณ Hindi + English
๐ฏ 30 MCQs
๐ฌ 3 Videos
๐ฎ๐ณ Hindi + English
Economy: 8 ยท History: 2
โถ Start Here โ UPSC-Standard Quiz
UPSC Current Affairs MCQ โ 12 May 2026
10 UPSC-standard bilingual MCQs covering today's top stories ยท 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.
๐ฐ Today’s Top 5 Current Affairs
#01
Economy
Economy
11 Years of Jan Suraksha Schemes
๐ฐ Why in News
The Government's flagship Jan Suraksha schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
โ
Quick Facts
- Over the years, these schemes have expanded affordable insurance and pension coverage to crores of citizens, especially the poor, vulnerable andโฆ
- The Jan Suraksha schemes PMJJBY, PMSBY and APY have expanded affordable insurance and pension coverage for crores of citizens, especially the poorโฆ
- 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 sectionsโฆ
- 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
๐ 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.
๐ฏ 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
๐ฐ Why in News
Recently, the three social security (Jan Suraksha) schemes Pradhan Mantri Suraksha Bima Yojana (PMSBY) , Pradhan Mantri Jeevan Jyoti Bima Yojanaโฆ
โ
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 introducedโฆ
- 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 / Postโฆ
- 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 aโฆ
- 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.
๐ 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
๐ฐ Why in News
The Life Insurance Corporation (LIC) of India in alignment with the 'Insurance For All by 2047' initiative
โ
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
๐ฐ Why in News
The Pension Fund Regulatory and Development Authority (PFRDA) has established a high-level committee to design a regulatory framework for assuredโฆ
โ
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 incomeโฆ
- 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.
๐ 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
๐ฐ 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 .
โ
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 inโฆ
- 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 billionโฆ
- 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)โฆ
- 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
๐ 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
๐ ๐ฐ Core Subject Drill โ Indian Economy
๐ฐ Indian Economy MCQ Quiz ยท เคญเคพเคฐเคคเฅเคฏ เค เคฐเฅเคฅเคตเฅเคฏเคตเคธเฅเคฅเคพ
10 bilingual MCQs ยท Indian Economy ยท Members Only on YouTube
Today's rotation: Indian Economy. Take this break between news topics to sharpen the core concept.
๐ More Current Affairs Coverage
#06
Economy
Economy
Gig Workers: The Invisible Workforce
๐ฐ 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.
โ
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 viaโฆ
- 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
๐ฐ Why in News
โ
Quick Facts
- The Union Cabinet has approved a new scheme which assures minimum monthly pension of โน3000 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
๐ Key Numbers & Data
- Scheme for Traders 01 Jun 2019 1 min read Tags: GS Paper – 3
- which assures minimum monthly pension of โน3000 per month to small shopkeepers, retail
#08
Economy
Economy
National Health Mission and Janani Suraksha Yojana – reporting
๐ฐ Why in News
โ
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 Urbanโฆ
- The main programmatic components include Health System Strengthening in rural and urban areas for – Reproductive-Maternal- Neonatal-Child andโฆ
- 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
๐ฐ Why in News
Pradhan Mantri Matru Vandana Yojana (PMMVY) has achieved a significant milestone by crossing one crore beneficiaries.
โ
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 stโฆ
- 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 andโฆ
- 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 ofโฆ
๐ 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
๐ฐ 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.
โ
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 lineโฆ
- 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 citizensโฆ
- The Scheme can be purchased offline as well as online through the Life Insurance Corporation (LIC) which has been given the sole privilege to operateโฆ
- 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 ofโฆ
๐ 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
๐๏ธ Key Stakeholders
Union CabinetMinistry of Finance
๐๏ธ Wrap Up โ Simple CA Quiz
Simple Current Affairs MCQ โ 12 May 2026
10 accessible MCQs covering the same topics ยท great for quick revision
End your study session with these simpler MCQs to lock in recall of today's current affairs.
