Daily Current Affairs โ 28 April 2026
Daily Current Affairs ยท 28 April 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: 7 ยท History: 3
โถ Start Here โ UPSC-Standard Quiz
UPSC Current Affairs MCQ โ 28 April 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
History
History
US Waiver Ends on Chabahar Port
๐ฐ 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.
โ
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- To minimise sanctions risk, the government has withdrawn personnel from Chabahar, prepaid its $120 million investment commitment, and is consideringโฆ
- 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
๐ฐ Why in News
Recently, India and Iran signed a 10-year contract for operating the Chabahar port in Iran.
โ
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 asโฆ
- 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
๐ 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
๐ฐ 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.
โ
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
๐ฐ Why in News
The Reserve Bank of India (RBI) has issued new Master Directions
โ
Quick Facts
- Borrower-Level NPA Classification: The most significant change is that if one loan of a borrower with multiple loans is classified as aโฆ
- 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.
๐ 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
๐๏ธ Key Stakeholders
RBIReserve Bank
#05
Economy
Economy
RBIโs Monetary Policy
๐ฐ Why in News
In the June 2025 Monetary Policy Committee (MPC) meeting
โ
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 itsโฆ
- 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 asโฆ
- 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 asโฆ
- 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
๐๏ธ Key Stakeholders
RBIReserve Bank
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
Loan Write-Offs and NPA Reduction in PSBs
๐ฐ 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) .
โ
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 theโฆ
- 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 (FYโฆ
- 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 5โฆ
- 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
๐ 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
๐๏ธ Key Stakeholders
RBINCLTReserve Bank
#07
Economy
Economy
IndiaโNew Zealand Free Trade Agreement
๐ฐ Why in News
India and New Zealand signed a landmark Free Trade Agreement (FTA), marking a major milestone in bilateral ties.
โ
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 workingโฆ
๐ 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
๐ฐ Why in News
India and New Zealand (NZ) announced the conclusion of talks on a free-trade agreement (FTA)
โ
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 developedโฆ
- Trade Liberalization: New Zealand's commitments include granting zero-duty access on 100% of Indian exports and completely eliminating the currentโฆ
- 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 theโฆ
- Access to 118 services sectors provides Indian IT, engineering, healthcare, and education firms with new opportunities .
๐ 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
๐ฏ 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
๐ฐ 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.
โ
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 andโฆ
- 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 needโฆ
- India and EFTA have signed the Trade and Economic Partnership Agreement (TEPA) in 2024 under which India will receive USD 100 billion as foreignโฆ
- According to the Ministry of Commerce and Industry Switzerland's investment flows in India amounted to USD 9.95 billion between 2000 and 2023 makingโฆ
- According to the International Monetary Fund (IMF) Swiss investment stocks in India amounted to USD 35 billion in 2021
๐ 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
๐๏ธ Key Stakeholders
IMFWTOSupreme Court
#10
History
History
India's Geographical Indication Landscape
๐ฐ 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.
โ
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 inโฆ
- 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 Propertyโฆ
- 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
๐ 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
๐๏ธ Key Stakeholders
IMFWTO
๐๏ธ Wrap Up โ Simple CA Quiz
Simple Current Affairs MCQ โ 28 April 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.
