Daily Current Affairs — 26 May 2026
Daily Current Affairs · 26 May 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 — 26 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.
Economy
India-Cyprus Strategic Partnership
India and Cyprus elevated their bilateral ties to a Strategic Partnership during the State Visit of the President of Cyprus to New Delhi.
- Effect of Policies & Politics of Countries on India's Interests
- India and Cyprus elevated their ties to a Strategic Partnership
- Cyprus holds strategic importance for India as an EU gateway
- Defence and Security Upgrades Five-Year Defence Roadmap (2026–2031): The nations unveiled a comprehensive framework to boost collaboration between…
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- This positions Cyprus as a strategic entry point for Indian defense exports into the European market.
- Cyprus appreciated India's contribution to the UN Peacekeeping Force in Cyprus (UNFICYP).
- IMEEC Push: Both leaders underscored the critical role of Cyprus in the India-Middle East-Europe Economic Corridor (IMEC).
- Indo-Pacific Oceans Initiative (IPOI): Cyprus joined the Indo-Pacific Oceans Initiative under the Pillar "Trade, Connectivity and Maritime Transport."
- Digital Payment Integration: The visit welcomed the interoperability of India's Unified Payments Interface (UPI) with the Target Instant Payment…
- Health Diplomacy: India announced the gifting of a BHISM (Bharat Health Initiative for Sahyog Hita & Maitri) Cube – a state-of-the-art indigenous…
4. What is the significance of IMEEC in India-Cyprus relations? Cyprus is seen as a key Mediterranean node that can strengthen secure trade and…
Which statement correctly describes India-Cyprus Strategic Partnership?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
India’s PM Historic Visit to Cyprus
India's Prime Minister's visit to Cyprus — the first by an Indian Prime Minister in 23 years — marks a significant step in bolstering bilateral…
- Effect of Policies & Politics of Countries on India's Interests
- India's Prime Minister was awarded the Grand Cross of the Order of Makarios III
- About Cyprus: Location: Cyprus is a Eurasian island country located in the northeast Mediterranean Sea at the crossroads of Europe, Asia, and Africa.
- It is the 3rd largest Mediterranean island after Sicily and Sardinia.
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- Historical Background: Cyprus gained independence from Britain in 1960
- Archbishop Makarios (Cyprus's first President) and Pandit Nehru were pioneers of the Non-Aligned Movement (NAM).
- Cyprus's consistent support for India's UNSC bid
Which statement correctly describes India’s PM Historic Visit to Cyprus?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
IR
India-Middle East-Europe Economic Corridor
The Union Minister of Commerce and Industry, at the High-Level Roundtable on Connectivity and Economic Growth in New Delhi, highlighted the…
- About: The IMEC is a strategic multi-modal connectivity initiative launched through a Memorandum of Understanding (MoU) during the G20 Summit 2023 in…
- IMEC seeks to position itself as a viable alternative to China's Belt and Road Initiative (BRI) by promoting transparent
- India's One Sun One World One Grid (OSOWOG) initiative aligns with IMEC's energy goals
- IMEC includes energy pipelines, clean energy infrastructure, and undersea cables to enhance trade and energy cooperation
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- Despite this, diplomatic engagement continues India and the UAE signed an Intergovernmental Framework Agreement (IGFA) in 2024, it focuses on…
- Geopolitical Instability: The Gaza Conflict is a major concern, disrupting diplomatic normalization in West Asia, a key premise for IMEC's success
- Infrastructure development of this scale needs long-term investments (anywhere between USD 3 billion to USD 8 billion)
- Similar incidents in the IMEC region could disrupt reliability
- The long-term success of the IMEC hinges on consistent political cooperation
- IMEC could be a costlier alternative with no guaranteed returns if regional challenges persist.
Discuss the strategic significance of the India-Middle East-Europe Economic Corridor in reshaping regional geopolitics and trade dynamics.
Which statement correctly describes India-Middle East-Europe Economic Corridor?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
History
BHISHM Cube
BHISHM (Bharat Health Initiative for Sahyog, Hita and Maitri) Cube of Project Arogya Maitri, a state-of-the-art indigenous mobile hospital deployed…
- The Aarogya Maitri project involves India supplying vital medical resources to any developing nation facing the impact of natural disasters or…
- BHISHM cube is tailored to treat up to 200 casualties, emphasizing rapid response and comprehensive care
- It integrates Artificial Intelligence (AI) and data analytics to facilitate effective coordination
- The success of BHISHM Cube underscores the importance of mobile hospital units in delivering immediate and effective medical assistance during…
Which statement correctly describes BHISHM Cube?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Advance Pricing Agreements and Double Taxation Avoidance Agreement
The Central Board of Direct Taxes (CBDT) has achieved a remarkable milestone by signing 125 Advance Pricing Agreements (APAs) during the fiscal year 2023-24.
- This surge in APA signings underscores the growing importance of transfer pricing regulations and the efforts to provide certainty to taxpayers.
- In an additional development, India and Mauritius have amended their Double Taxation Avoidance Agreement (DTAA) to curb tax evasion and ensure fair…
- About: An APA is a formal arrangement between a taxpayer and a tax authority on transfer prices.
- APAs allow businesses to reduce the risk of their transaction prices being challenged by tax authorities.
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- The APA programme has significantly contributed to India's mission of promoting ease of doing business
- Unilateral APAs: Limit risks for transactions between domestic entities
- Relatively shorter proceedings compared to other APA types.
- Limit risks for transactions between a domestic entity and a foreign entity. Eliminate the risk of double taxation
- They mitigate risks for transactions between related entities in 3 or more states
- The APA process is voluntary and will supplement appeal and other Double Taxation Avoidance Agreement (DTAA) mechanisms for resolving transfer…
Which statement correctly describes Advance Pricing Agreements and Double…?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
💰 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.
Economy
Cyprus as a Tax Haven
The recent Cyprus Confidential investigation has brought to light a complex web of financial activities involving offshore entities in Cyprus and their connection to wealthy individuals in India.
- Effect of Policies & Politics of Countries on India's Interests
- This global offshore investigation, conducted in collaboration with the International Consortium of Investigative Journalists (ICIJ), exposes the use…
- A tax haven is generally an offshore country that offers foreign individuals and businesses little or no tax liability in a politically and…
- An offshore company is incorporated in a jurisdiction other than its home country
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- Corporate Taxation: Offshore companies and offshore branches managed and controlled from Cyprus are taxed at 4.25%.
- Offshore branches managed from abroad and offshore partnerships enjoy total exemption from tax.
- Cyprus imposes no withholding tax on dividends.
- Beneficial owners of offshore entities or branches are not liable for additional tax on dividends or profits.
- No capital gains tax is payable on the sale or transfer of shares in an offshore entity.
- Inheritance of shares in an offshore company is exempt from estate duty.
Which statement correctly describes Cyprus as a Tax Haven?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Defence
Operation Sindoor
India launched Operation Sindoor in retaliation for the April 2025 Pahalgam terrorist attack, targeting 9 terrorist infrastructure sites in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK).
- Security Challenges & their Management in Border Areas
- Wing Commander Vyomika Singh and Colonel Sofiya Qureshi led the Indian government's briefing about the operation.
- About: Operation Sindoor was a coordinated precision strike operation launched by the Indian Armed Forces on 7th May 2025
- Unlike past operations with aggressive names meant to project strength
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- These strikes aimed to dismantle terrorist infrastructure used for planning attacks against India.
- High-Precision Weapons Involved in Operation Sindoor: Indian Air Force (IAF) used advanced systems like SCALP Cruise Missiles
- Launch Platform: Typically deployed from advanced fighter jets like the Rafale.
- Combat Use: The missile has been used in combat scenarios
- HAMMER Precision-Guided Bomb: The HAMMER (Highly Agile Modular Munition Extended Range) missile was used to engage targets requiring medium-range…
- Key Features: HAMMER can be fitted with various guidance systems
Which statement correctly describes Operation Sindoor?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
Unified Payments Interface
The International Monetary Fund (IMF) released a note titled Growing Retail Digital Payments: The Value of Interoperability
- About: UPI is a real-time mobile payment system developed by National Payments Corporation of India (NPCI) It allows users to link multiple bank…
- IMPS facilitates funds transfer to an account of the beneficiary with a participating bank
- The AePS allows basic banking services like cash withdrawal
- Scale and Adoption: UPI processed Rs 24.03 lakh crore through 18.39 billion transactions in June 2025
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- India's UPI is now the world's top real-time payment system
- UPI has integrated digital payments into daily life in India
- It allows users to transact across different apps and banks, making digital payments easier and more flexible.
- This openness also pushed apps to compete and improve, driving innovation and better user experience.
- It has empowered millions of kirana stores and micro-businesses, while also promoting digital literacy and building trust in digital finance.
- Its launch in France marks its entry into Europe
Which statement correctly describes Unified Payments Interface?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Economy
IAEA Backs India’s NSG Bid via MECR
The International Atomic Energy Agency (IAEA) has backed India's entry into the Nuclear Suppliers Group (NSG), a key body within the 4 major Multilateral Export Control Regimes (MECR).
- About: MECR are voluntary frameworks aimed at preventing the proliferation of Weapons of Mass Destruction (WMDs) and restricting the transfer of…
- Their regulations apply only to members, and participation is voluntary.
- Australia Group (AG): AG was formed in 1985 as an informal forum of 43 countries aimed at preventing the proliferation of chemical and biological…
- The group helps members comply with the Chemical Weapons Convention and Biological & Toxin Weapons Convention.
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- India joined it in 2018, strengthening its position for membership in the NSG and advancing global non-proliferation objectives.
- MTCR is a voluntary, informal partnership of 35 countries, established in 1987, which aims to limit the proliferation of missiles and unmanned aerial…
- It restricts the supply of such systems to non-members and is based on consensus decisions.
- India joined as the 35th member in 2016, gaining access to advanced missile technologies
- It aims to regulate the transfer of conventional arms and dual-use technologies.
- It establishes lists of sensitive items for export controls to prevent destabilizing arms buildups and ensures that transfers do not enhance military…
Which statement correctly describes IAEA Backs India’s NSG Bid via MECR?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
History
Passage Exercise (PASSEX) 2025
The Indian Navy and the UK Royal Navy conducted a Passage Exercise (PASSEX) in the North Arabian Sea.
- About: PASSEX refers to joint naval exercises carried out between allied navies when their deployments intersect
- India's fleet includes the stealth frigate INS Tabar, a conventional submarine, and the P-8I long-range maritime aircraft.
- It is the third Talwar-class stealth frigate commissioned in April 2004 in Russia, and the first to carry BrahMos missiles.
- Serving with the Western Fleet in Mumbai, it is equipped for air, surface, and sub-surface missions, and operates independently or within a naval…
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- The P-8I is a long-range maritime patrol and anti-submarine aircraft, developed by US Boeing for India.
- With a range of over 1,200 nautical miles and a speed of 907 kmph
Which statement correctly describes Passage Exercise (PASSEX) 2025?
✅ Correct! That fact belongs to this topic.
❌ Not quite — that fact is from another headline. The green option is right.
Simple Current Affairs MCQ — 26 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.
