Daily Current Affairs — 18 June 2026
Daily Current Affairs · 18 June 2026
10 fully-analysed topics · 30 bilingual MCQs · 3 embedded videos · built for UPSC Prelims & Mains
🎯 30 MCQs
🎬 3 Videos
🇮🇳 Hindi + English
UPSC Current Affairs MCQ — 18 June 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.
Economy
Farm Loan Waivers in India
In a striking fiscal paradox, the Tamil Nadu government announced a full waiver of cooperative crop loans up to Rs 75,000 for farmers even as its…
- The development has reignited the debate over the trade-off between welfare-driven interventions such as farm loan waivers and the imperative of…
- Political Economy vs. Real Distress: A Reserve Bank of India (RBI) Internal Working Group (2019) noted a high correlation between the timing of loan…
- Exclusion Error: Waivers inherently benefit only those who have access to formal credit (institutional borrowing)
- High Debt-to-GDP Ratios: The outstanding debt of states is currently hovering around 27 – 29% of GDP
Show 6 more facts
- Crowding Out Capital Expenditure (Capex): State governments are bound by FRBM limits (capping the fiscal deficit at 3% of GSDP)
- Waiver schemes are often accommodated by a nearly 1/3rd cut in capital expenditure
- The fiscal burden of these waivers generally consumes between 0.1% to 4.5% of a state's GSDP
- Direct Income Support: Schemes like PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) or state-level initiatives like Odisha's KALIA and Telangana's Rythu…
- Farm Loan Waivers: A macroeconomic intervention where the government assumes the liability of agricultural loans
- Objective: Deployed as an emergency relief measure to alleviate acute agrarian distress triggered by systemic shocks such as crop failures
3. How do farm loan waivers impact state finances? They increase revenue expenditure
Which statement correctly describes Farm Loan Waivers in India?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Farm Loan Waivers in India
The Government of Maharashtra announced a Rs 35,000 crore Punyashlok Ahilyadevi Holkar Farmers Loan Waiver Scheme
- It is Maharashtra's third farm loan waiver in a decade
- The move comes despite repeated warnings from the Reserve Bank of India (RBI) and expert committees that frequent waivers may weaken the rural credit…
- Farm loan waivers provide short-term relief to distressed farmers
- Long-term solutions lie in structural reforms such as direct income support
Show 6 more facts
- Farm Loan Waiver: A farm loan waiver is a government measure where the state repays farmers' agricultural loans to banks and financial institutions
- Types of Farm Loan Waiver: Complete (Blanket) Waiver: The government writes off the entire outstanding loan for all farmers
- Partial Waiver: Loans are waived only up to a fixed limit (e.g., ₹1–2 lakh per farmer). Any amount above the cap must be repaid by the farmer.
- Targeted Waiver: Relief is limited to specific groups
- Interest Waiver: Only the interest or penal interest on the loan is waived, while the farmer still has to repay the principal amount.
- This was followed by the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS)
The Government of Maharashtra announced a Rs 35,000 crore Punyashlok Ahilyadevi Holkar Farmers Loan Waiver Scheme
Which statement correctly describes Farm Loan Waivers in India?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
RBI Annual Report 2024-25
The Reserve Bank of India (RBI) released its Annual Report 2024-25, providing a comprehensive overview of the country's monetary policy, financial stability, regulatory initiatives, and key economic developments.
- Global Economic Growth: Global growth slowed to 3.3% in 2024, below the historical average of 3.7% (2000-19)
- Agricultural Gross Value Added (GVA) grew by 4.6% (up from 2.7% in previous year), driven by record foodgrain production and favourable weather.
- Industrial sector growth slowed to 4.3% and the services sector remained strong with a 7.5% growth and accounted for 64.1% of GVA.
- Its income rose by 22.77% (driven by a ~33% surge in forex transaction gains and higher returns from investments)
Show 6 more facts
- Core inflation stood at 3.5%, with food inflation falling to 2.9% by March 2025.
- Fuel prices saw deflation of 2.5% due to softer global energy prices.
- The cash reserve ratio (CRR) was reduced to 4% in December 2024 to ease liquidity pressures.
- Current Account Deficit (CAD) remained manageable at 1.3% of GDP
- Gross Non-Performing Assets (NPA) ratio and Net NPA ratio declined further
- Unified Payments Interface (UPI) accounted for 48.5% of global real-time payments by volume.
Which statement correctly describes RBI Annual Report 2024-25?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
CAG Review of the FRBM Act
The Comptroller and Auditor General (CAG) presented its 2023-24 annual review of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003, in Parliament.
- The review shows that India is moving steadily towards long-term macroeconomic stability.
- Central Government Debt: Declined to 57% of Gross Domestic Product (GDP) (March 2024) from 61.38% in FY 2020-21.
- General Government Debt (GGD): GGD declined slightly from 83% of GDP in March 2022 to 81.3% in March 2023, still far above the 60% target.
- Debt Sustainability Analysis (DSA): DSA assesses the government's ability to service debt, with the debt-to-GDP ratio as the key measure
Show 6 more facts
- The Centre's debt-to-GDP ratio peaked at 61.38% in FY 2020-21 and declined to 57% in FY 2023-24.
- About: The FRBM Act, 2003 was enacted to reduce fiscal deficits and promote long-term macroeconomic stability and inter-generational equity
- Fiscal Responsibility: The Act mandates that the Finance Minister review fiscal trends and present half-yearly reviews to both Houses of Parliament.
- Medium-Term Fiscal Policy (MTFP): The Act mandates the presentation of the MTFP statement
- Implementation: The CAG conducts annual reviews to assess the government's compliance with the FRBM targets.
- The Fiscal Deficit (FD) target is 3% of GDP by March 2021(target deferred due to pandemic)
Which statement correctly describes CAG Review of the FRBM Act?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
History
Special Purpose Vehicle for Mission Karmayogi
Recently, a three-member task force has been formed to help the government in bringing major bureaucratic reforms through its ambitious "Mission Karmayogi".
- About: The Centre has recently approved the 'National Programme for Civil Services Capacity Building – Mission Karmayogi' to effect a…
- It will be set up under section 8 of Companies Act, 2013 as a 100% government-owned entity.
- The SPV will be responsible to deliver and manage design
- Aim and Objectives: It is aimed at building a future-ready civil service with the right attitude
Show 6 more facts
- It aims to prepare Indian civil servants for the future by making them more creative
- At present bureaucracy is facing challenges like- Rule orientation
- To change the status quo of civil services and bring about the long pending civil services reforms.
- Tech-Aided: The capacity building will be delivered through iGOT Karmayogi digital platform, with content drawn from global best practices.
- Coverage: The scheme will cover 46 lakh central government employees, at all levels, and involve an outlay of Rs. 510 crores over a five-year period.
- Shift from Rules to Roles: The programme will support a transition from "rules-based to roles-based" Human Resource Management (HRM) so that work…
Which statement correctly describes Special Purpose Vehicle for Mission Karmayogi?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
🗺️ Indian Geography MCQ Quiz · भारतीय भूगोल
10 bilingual MCQs · Indian Geography · Members Only on YouTube
Today's rotation: Indian Geography. Take this break between news topics to sharpen the core concept.
Economy
Loan Write-Offs and NPA Reduction in PSBs
A large-scale loan write-off by banks over the past few years has contributed to a significant reduction in non-performing assets (NPAs).
- 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 crore 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.
Show 6 more facts
- 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
Which statement correctly describes Loan Write-Offs and NPA Reduction in PSBs?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Expansion of National Agriculture Market (e-NAM)
The Ministry of Agriculture and Farmers' Welfare has expanded the National Agriculture Market (e-NAM) by including 9 additional commodities
- About: e-NAM is a pan-India electronic trading portal launched in April 2016
- Create a Unified Market: Integrate state-level markets for pan-India agricultural trade.
- Ensure Transparency: Enable better price discovery via transparent auctions and wider buyer access.
- Improve Efficiency: Streamline and standardize marketing procedures across markets.
Show 6 more facts
- Assure Quality: Implement quality assaying so prices reflect produce quality.
- Benefit Consumers: Support stable prices and availability of quality produce.
- Issue a single trading license valid across the State/UT.
- National e-Governance Plan in Agriculture (NeGP-A)
- Fixing Minimum Support Price for agricultural produce of all crops
- Waiver of agricultural loans by the banking system
Which statement correctly describes Expansion of National Agriculture Market (e-NAM)?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Minimum Support Prices: From Safety Net to Self-Sufficiency
The Government of India has approved the Minimum Support Prices (MSP) for Rabi Marketing Season (RMS) 2026–27, with an estimated procurement of 297 Lakh Metric Tonnes (LMT).
- Definition: MSP is the price at which the government procures crops directly from farmers
- Determination: MSPs are recommended by the Commission for Agricultural Costs and Prices (CACP) — an attached office under the Ministry of Agriculture…
- The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, gives the final approval.
- Cost of production, demand-supply dynamics, market price trends, inter-crop price parity, and terms of trade between agriculture and non-agriculture…
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- Since 2018–19, MSPs have been fixed at 1.5 times the cost of production, ensuring a minimum 50% profit margin for farmers.
- MSP is declared for 22 mandated crops — including 14 Kharif crops
- Cereals and coarse cereals: Procured by Food Corporation of India (FCI) and state agencies.
- Pulses, oilseeds, copra: Procured under Price Support Scheme (PSS) of PM-AASHA through NAFED and NCCF.
- Cotton & Jute: Procured at MSP via Cotton Corporation of India (CCI) and Jute Corporation of India (JCI).
- No maximum procurement limit for jute and cotton
W – Wider Crop Diversification: Align MSP incentives with sustainable cropping systems, encouraging diversification toward millets, pulses, and oilseeds to reduce environmental impacts from monocropping.
Which statement correctly describes Minimum Support Prices: From Safety Net to…?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Farmers Producer Organisation
The development of Farmer Producer Organizations (FPOs) has been a critical step towards empowering small farmers in India.
- About: An FPO is a type of producer organisation (PO) with farmers as its members
- FPOs can be registered under the Companies Act, 2013, the Societies Registration Act, 1860, or as Public Trusts under the Indian Trusts Act, 1882
- FPOs help small farmers by facilitating bulk input purchases, improving bargaining power, and ensuring better price realization with reduced costs
- Current Status: 45,000 FPOs are registered as companies, but only 16,000 are compliant with regulatory filings
Show 6 more facts
- Indian Successful Story: Kandhamal Apex Spices Association for Marketing (KASAM) in Odisha promotes Kandhamal turmeric through 61 Spice Development…
- It collaborates with Kisan Saathi, helping Gumapadar FPC Ltd
- Mexico (Ejido System): Ejidos are communal farming systems where land is collectively owned and managed by communities
- Thailand: Programs like "One Tambon (Village) One Product" promote unique local agricultural products.
- China: Farmer Professional Cooperatives (FPCs) in sectors like tea
- No One Size Fits All Approach: FPOs cannot single-handedly resolve deep-rooted issues like the vulnerability of farmers to climate risks
Which statement correctly describes Farmers Producer Organisation?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
History
Pradhan Mantri Fasal Bima Yojana
According to the Ministry of Agriculture and Farmers Welfare
- Goa, Chhattisgarh, Telangana, and Tamil Nadu have achieved full claim settlement, while Tripura, Andaman and Nicobar Islands, Andhra Pradesh, and…
- About: Launched in 2016, PMFBY is a Central Sector Scheme designed to offer financial protection to farmers against crop losses caused by natural…
- Eligibility: All farmers including sharecroppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage
- Natural Disasters: Includes floods, droughts, cyclones, hailstorms, landslides, and unseasonal rainfall.
Show 6 more facts
- Pest & Disease Coverage: Protects against pest attacks and crop diseases.
- Post-Harvest Losses (Individual Farm Basis): Compensation for damage within 14 days of harvest
- Localised Calamities: The government provides compensation for localised calamities on an individual farm basis.
- Prevented Sowing (on Notified Area Basis): If most insured farmers in a notified area are unable to sow due to adverse weather despite intent and…
- The government fully subsidizes premiums for farmers in the Northeast, Jammu & Kashmir, and Himachal Pradesh.
- Satellite Imagery & Drones: Used for estimating crop area, resolving yield disputes, and assessing crop losses.
Which statement correctly describes Pradhan Mantri Fasal Bima Yojana?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Simple Current Affairs MCQ — 18 June 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.
