🏛️ IBPS PO Mains 2026📋 IBPS Clerk Mains 2026✅ Updated July 10, 2026🔥 40 High Expected Questions
IBPS PO & Clerk Current Affairs 2025-26 — 40 Most Expected Questions
📅 Last updated: July 10, 2026✍️ By GK Capsule Team📚 40 Questions🎯 IBPS PO Mains: Oct 4, 2026
Current Affairs is the highest-scoring section in IBPS PO Mains and IBPS Clerk Mains 2026 — it requires no calculation, unlike Quant or DI, making it a guaranteed score booster for every aspirant. The GA section carries 50 marks in both IBPS PO and IBPS Clerk Mains. This page covers the 40 most expected Current Affairs questions based on live PIB, RBI, and government sources — updated to July 10, 2026, just weeks before the IBPS PO Prelims.
📊 IBPS PO 2026 Key Exam Dates:
IBPS PO Prelims: August 22–23, 2026 · IBPS PO Mains: October 4, 2026 · GA Section: 50 marks (part of 170Q Mains objective test) · Current Affairs coverage: Last 6 months from exam date · Focus areas: RBI decisions, Budget 2026-27, International Summits, Banking Appointments, UPI Milestones
⚠️ Important for IBPS PO Mains Aspirants:
IBPS PO Mains is on October 4, 2026. Current Affairs coverage should be from approximately April 2026 to October 2026. The questions on this page (January–July 2026) cover the most important period. Keep revisiting as we update this page monthly with fresh questions from PIB, RBI, and government announcements.
📝 Section 1 — India-Australia Summit July 2026 (Most Expected)
🌐 Summit🆕 July 10🔥 Most ExpectedQ1
The 3rd India-Australia Annual Leaders' Summit held on July 9–10, 2026 in Melbourne resulted in how many major outcomes?
A12 outcomes
B15 outcomes
C18 outcomes
D20 outcomes
✅ Answer: C) 18 outcomesPM Modi and Australian PM Anthony Albanese concluded the 3rd India-Australia Annual Leaders' Summit in Melbourne with 18 major outcomes spanning defence, maritime security, clean energy, critical technologies, education, skill development, mining partnership, research collaboration, and cultural cooperation. This was PM Modi's first bilateral visit to Australia since 2023.
🌐 Summit🆕 July 10🔥 Most ExpectedQ2
Australia and India finalised administrative arrangements at the July 2026 Summit enabling export of which resource from Australia to India for peaceful civilian nuclear use?
AIron ore
BUranium
CLithium
DThorium
✅ Answer: B) UraniumIndia and Australia operationalised the India-Australia Civil Nuclear Cooperation Agreement (originally signed in 2014) at the July 2026 Summit, paving the way for Australian uranium exports to India exclusively for peaceful civilian nuclear use under IAEA safeguards. This supports India's plan to expand nuclear power as part of its clean energy transition towards Viksit Bharat 2047.
🌐 Summit🆕 July 10Q3
The India-Australia Partnership on Cyber, Critical Technologies and Supply Chains (PACTS) announced at the July 2026 Summit replaces which earlier framework?
A2015 cyber cooperation MoU
B2018 digital partnership
C2020 cyber cooperation framework
D2022 technology agreement
✅ Answer: C) 2020 cyber cooperation frameworkPACTS (Partnership on Cyber, Critical Technologies and Supply Chains) replaces the 2020 cyber cooperation framework with a broader strategic partnership. It covers critical minerals corridor development, semiconductor supply chains, cybersecurity cooperation, and advanced technology transfer. Both countries also signed an MoU between Geoscience Australia and the Geological Survey of India to map critical mineral deposits.
🌐 Summit🆕 July 10Q4
Australia agreed to commission a space tracking terminal on the Cocos (Keeling) Islands to support which Indian space mission?
AChandrayaan-4
BMangalyaan-2
CGaganyaan
DAditya L2
✅ Answer: C) GaganyaanAustralia agreed to commission a temporary space tracking terminal on the Cocos (Keeling) Islands to provide essential telemetry tracking support for India's Gaganyaan human spaceflight program. Gaganyaan is ISRO's first crewed orbital mission, aimed at sending Indian astronauts (Gagannauts) to low Earth orbit. The Cocos (Keeling) Islands are an Australian territory in the Indian Ocean.
🌐 Summit🆕 July 10Q5
India and Australia agreed to accelerate negotiations on which comprehensive trade agreement at the July 2026 Summit?
✅ Answer: B) Comprehensive Economic Cooperation Agreement (CECA)India and Australia agreed to accelerate CECA negotiations at the July 2026 Summit. The existing India-Australia Economic Cooperation and Trade Agreement (ECTA), operational since 2022, provides preferential tariffs on goods. CECA is broader — covering goods, services, investments, and intellectual property. India-Australia bilateral trade stands at USD 27.47 billion annually.
📝 Section 2 — Union Budget 2026-27 (High Expected for IBPS)
💰 Budget🔥 Most ExpectedQ6
The Union Budget 2026-27 proposed setting up a 'High Level Committee on Banking for Viksit Bharat'. What is its primary purpose?
ANationalize all private sector banks
BComprehensively review the banking sector and align it with India's next growth phase
CSet uniform interest rate caps across all banks
DMerge all PSU banks into State Bank of India
✅ Answer: B) Comprehensively review the banking sector and align it with India's next growth phaseBudget 2026-27 proposed a High Level Committee on Banking for Viksit Bharat to comprehensively review the banking sector and align it with India's next phase of economic growth while safeguarding financial stability, financial inclusion, and consumer protection. This is considered a landmark structural reform for India's BFSI sector.
💰 Budget🔥 Most ExpectedQ7
What is the fiscal deficit target set in the Union Budget 2026-27 as a percentage of GDP?
A3.9% of GDP
B4.1% of GDP
C4.3% of GDP
D4.5% of GDP
✅ Answer: C) 4.3% of GDPBudget 2026-27 set the fiscal deficit at 4.3% of GDP for FY 2026-27, lower than the revised estimate of 4.4% in 2025-26. Total expenditure is estimated at Rs 53.5 lakh crore and non-debt receipts at Rs 36.5 lakh crore. The medium-term fiscal consolidation target is to reduce debt-to-GDP ratio to 50% (±1%) by March 2031.
💰 Budget🔥 Most ExpectedQ8
The Union Budget 2026-27 increased public capital expenditure to how much for FY 2026-27?
ARs 10.2 lakh crore
BRs 11.2 lakh crore
CRs 12.2 lakh crore
DRs 14.2 lakh crore
✅ Answer: C) Rs 12.2 lakh croreBudget 2026-27 increased public capital expenditure to Rs 12.2 lakh crore for FY 2026-27, up from Rs 11.2 lakh crore. This sustained infrastructure push aims to crowd in private investment and generate employment. The Budget also set up an Infrastructure Risk Guarantee Fund to strengthen private developer confidence.
💰 BudgetQ9
Budget 2026-27 announced India Semiconductor Mission 2.0 (ISM 2.0). What was the outlay for the original India Semiconductor Mission?
ARs 40,000 crore
BRs 56,000 crore
CRs 76,000 crore
DRs 90,000 crore
✅ Answer: C) Rs 76,000 croreThe original India Semiconductor Mission (ISM) was launched in 2021-22 with an outlay of Rs 76,000 crore for developing a semiconductor and display ecosystem in India. ISM 2.0 announced in Budget 2026-27 extends this to produce equipment, materials, design full-stack Indian IP, and fortify supply chains. CG SEMI's OSAT facility in Sanand, Gujarat began commercial production in July 2026.
💰 BudgetQ10
Budget 2026-27 proposed restructuring of Power Finance Corporation and Rural Electrification Corporation. Both are classified as what type of financial institutions?
AScheduled Commercial Banks
BPublic Sector NBFCs
CDevelopment Finance Institutions
DRegional Rural Banks
✅ Answer: B) Public Sector NBFCsPower Finance Corporation (PFC) and Rural Electrification Corporation (REC) are systemically important Non-Banking Financial Companies (NBFCs) under the Ministry of Power. Budget 2026-27 proposed restructuring both to achieve scale and improve efficiency. PFC and REC are the two largest infrastructure finance companies in India, providing long-term loans to the power sector.
💰 BudgetQ11
The new Income Tax Act that comes into effect from April 1, 2026, replacing the Income Tax Act 1961, is called:
AIncome Tax Act 2024
BIncome Tax Act 2025
CIncome Tax Act 2026
DDirect Tax Code 2026
✅ Answer: B) Income Tax Act 2025The Income Tax Act 2025, formed after a comprehensive review of the Income Tax Act 1961 announced in July 2024, came into effect from April 1, 2026. It features simplified language, redesigned compliance forms, and an extended window to revise returns up to March 31 with nominal fees. Tax slabs remain unchanged — no new tax slab changes were introduced in Budget 2026-27.
💰 BudgetQ12
Budget 2026-27 extended the tax holiday for units in International Financial Services Centre (IFSC) from 10 years to how many years?
A12 years
B15 years
C20 years
D25 years
✅ Answer: C) 20 yearsBudget 2026-27 extended the tax holiday for IFSC units and Offshore Banking Units from 10 years to 20 years. After the tax holiday, income of IFSC units will be taxed at 15%. GIFT (Gujarat International Finance Tec-City) in Gandhinagar, Gujarat is India's IFSC. This extension aims to attract more global financial institutions and fund houses to set up operations in India's IFSC.
📝 Section 3 — RBI Decisions & Banking Circulars
🏦 RBI🔥 Most ExpectedQ13
Who is the current RBI Governor (as of July 2026) and what position does he hold in the sequence of RBI Governors?
AShaktikanta Das — 25th RBI Governor
BSanjay Malhotra — 26th RBI Governor
CRaghuram Rajan — 23rd RBI Governor
DUrjit Patel — 24th RBI Governor
✅ Answer: B) Sanjay Malhotra — 26th RBI GovernorSanjay Malhotra became the 26th Governor of the Reserve Bank of India in December 2024, succeeding Shaktikanta Das who served from 2018 to 2024. Malhotra is a 1990-batch IAS officer of the Rajasthan cadre and was previously the Revenue Secretary. This is the single most asked appointment question in IBPS PO and Clerk exams — always know the current RBI Governor.
🏦 RBI🔥 Most ExpectedQ14
What is the current repo rate decided by the RBI Monetary Policy Committee in its June 2026 meeting?
A5.00%
B5.25%
C5.50%
D6.00%
✅ Answer: B) 5.25%RBI MPC kept the repo rate unchanged at 5.25% in its June 2026 meeting, retaining a neutral policy stance. This followed cumulative rate cuts from 6.50% to 5.25% in 2025-26 to support growth. Current rates: Repo Rate 5.25%, Reverse Repo Rate 3.35%, MSF Rate 5.50%, Bank Rate 5.50%, CRR 4%, SLR 18%.
🏦 RBI🆕 July 2026Q15
The RBI Revamped Integrated Ombudsman Scheme (RB-IOS 2026), effective July 1, 2026, allows a complainant to receive a maximum award of how much for financial losses?
ARs 10 lakh
BRs 20 lakh
CRs 30 lakh
DRs 50 lakh
✅ Answer: C) Rs 30 lakhUnder RB-IOS 2026 (effective July 1, 2026), awards can be up to Rs 30 lakh for financial losses and Rs 3 lakh for time and harassment. The scheme covers banks, NBFCs with assets of Rs 100 crore and above, and credit information companies. It retains the One Nation One Ombudsman approach introduced in the 2021 scheme.
🏦 RBI🆕 July 2026Q16
RBI issued draft Master Direction on Secondary Market Transactions in Government Securities in July 2026, superseding how many existing circulars?
A10+ circulars
B20+ circulars
C30+ circulars
D50+ circulars
✅ Answer: C) 30+ circularsRBI released a draft Master Direction consolidating rules for outright, 'When Issued', and short sale transactions in Government securities, superseding 30+ existing circulars. This consolidation simplifies the regulatory framework for G-Sec market participants. Banks and dealers can submit comments by July 17, 2026. G-Sec market is a key component of India's monetary transmission mechanism.
🏦 RBIQ17
RBI mandated the '.bank.in' domain exclusively for Indian banks. What is the primary purpose of this mandate?
ATo generate revenue from domain registration
BTo combat cyber fraud and phishing attacks targeting bank customers
CTo replace all existing bank websites
DTo integrate with the SWIFT global banking network
✅ Answer: B) To combat cyber fraud and phishing attacks targeting bank customersRBI mandated the '.bank.in' domain in March 2026 so that only genuine Indian banks use this domain. Customers can then easily identify legitimate banking portals and avoid phishing websites that mimic bank URLs. Digital banking fraud losses in India exceeded Rs 15,000 crore in 2025-26, making this an urgent consumer protection measure.
🏦 RBIQ18
RBI released draft Guidance on Regulatory Principles for Model Risk Management 2026 on June 24, 2026. This guidance mandates what specific safety feature for AI models deployed by banks?
AMandatory public disclosure of AI training data
BAI kill switches in all deployed models
CSeparate AI banking licences for each model
DAI model certification from SEBI
✅ Answer: B) AI kill switches in all deployed modelsRBI's draft Model Risk Management Guidance (June 24, 2026) mandates Board-approved Model Risk Management Frameworks (MRMF), risk tiering, and AI kill switches — emergency shut-off mechanisms for all AI models deployed by regulated entities. The guidance applies across 11 categories of regulated entities. Comments were invited by July 24, 2026.
📝 Section 4 — Banking Sector News & Appointments
🏛️ Banking🔥 Most ExpectedQ19
Former Chief Election Commissioner Rajiv Kumar was appointed as Part-Time Chairman of which bank in 2026?
AICICI Bank
BAxis Bank
CHDFC Bank
DKotak Mahindra Bank
✅ Answer: C) HDFC BankFormer Chief Election Commissioner Rajiv Kumar was appointed as Part-Time Chairman of HDFC Bank for a three-year tenure in 2026. The appointment required final RBI approval. HDFC Bank is India's largest private sector bank by market capitalisation and the second largest bank overall after SBI. It has over 8,000 branches and 20,000+ ATMs across India.
🏛️ BankingQ20
Kotak Mahindra Bank announced acquisition of which bank's retail and wealth management unit for Rs 282 crore in 2026?
ACitibank India
BDeutsche Bank India
CStandard Chartered India
DBarclays India
✅ Answer: B) Deutsche Bank IndiaKotak Mahindra Bank announced the acquisition of Deutsche Bank India's retail and wealth management unit for Rs 282 crore in 2026. The deal covers Rs 29,000 crore in loans and Rs 16,000 crore in total deposits, with over 1.5 lakh customers and 1,000 employees transitioning to Kotak. This was the largest private bank acquisition deal of 2026.
🏛️ BankingQ21
RBI recognised Sahamati Foundation as the SRO (Self-Regulatory Organisation) for which financial ecosystem in 2026?
ADigital Lending ecosystem
BAccount Aggregator ecosystem
CCryptocurrency ecosystem
DMicrofinance ecosystem
✅ Answer: B) Account Aggregator ecosystemRBI recognised Sahamati Foundation as the SRO for the Account Aggregator (AA) ecosystem in 2026. The AA framework allows users to securely share their financial data across institutions with explicit consent. This enables better credit access, personalized financial services, and seamless data sharing between banks, NBFCs, insurance companies, and mutual funds.
🏛️ BankingQ22
The Insolvency and Bankruptcy Code (IBC) completed how many years in 2026 and approximately how much has been recovered through it since inception?
A8 years — Rs 2 lakh crore
B10 years — Rs 3.5 lakh crore
C12 years — Rs 5 lakh crore
D15 years — Rs 8 lakh crore
✅ Answer: B) 10 years — Rs 3.5 lakh croreIBC completed 10 years in 2026. Since its enactment in 2016 it has resolved over 3,000 cases and recovered approximately Rs 3.5 lakh crore for creditors. The NCLT (National Company Law Tribunal) is the adjudicating authority under IBC. The resolution rate has significantly improved since 2016, with the average resolution time reducing from 4+ years to under 18 months.
📝 Section 5 — Digital Payments & Fintech
📱 Digital🔥 Most ExpectedQ23
UPI recorded a historic high in May 2026 with transactions worth approximately how much?
ARs 20 trillion
BRs 24 trillion
CRs 29.90 trillion
DRs 35 trillion
✅ Answer: C) Rs 29.90 trillionUPI hit a historic high of Rs 29.90 trillion (approximately USD 360 billion) in May 2026, reflecting the exponential growth of India's digital payments ecosystem. UPI processes over 14 billion transactions per month. India's UPI is now being adopted globally in Singapore, UAE, France, Bhutan, Nepal, Sri Lanka, and Malaysia.
📱 DigitalQ24
NPCI partnered with HSBC India and JP Morgan Payments in July 2026 to enable real-time FX settlement for which payment system?
ARTGS
BNEFT
CInternational UPI
DIMPS
✅ Answer: C) International UPINPCI partnered with HSBC India and JP Morgan Payments to enable real-time foreign exchange settlement for International UPI Payments, enhancing cross-border payment efficiency. The partnership allows international UPI transactions to be settled in real-time rather than T+1 or T+2 settlement cycle. NPCI (National Payments Corporation of India) is a not-for-profit entity promoted by RBI and IBA.
📱 DigitalQ25
RBI revived its Polymer Note Project in May 2026. Which denomination is expected to be tested first as plastic currency in India?
ARs 10
BRs 50
CRs 100
DRs 500
✅ Answer: A) Rs 10RBI revived the Polymer Note Project in May 2026 with the Rs 10 denomination expected to be tested first. Polymer notes are made of biaxially oriented polypropylene (BOPP) and last 4 times longer than paper notes. They are harder to counterfeit, cleaner, and can be recycled. Australia, UK, Canada, and Singapore already use polymer currency notes.
📝 Section 6 — Economic Indicators & International Finance
📈 Economy🔥 Most ExpectedQ26
RBI revised India's GDP growth forecast for FY2026-27 to which figure in its June 2026 MPC meeting?
A6.2%
B6.4%
C6.6%
D6.9%
✅ Answer: C) 6.6%RBI revised its FY27 GDP growth forecast to 6.6% from the earlier 6.9% projection in April 2026. The downward revision was due to the West Asia conflict's impact on energy prices, concerns over a weak monsoon, and global trade uncertainty. Despite the revision, India remained the world's fastest-growing major economy in 2026, according to IMF projections.
📈 EconomyQ27
India's forex reserves reached an all-time high during the week ended February 27, 2026. What was this record figure?
AUSD 650 billion
BUSD 700 billion
CUSD 728.4 billion
DUSD 750 billion
✅ Answer: C) USD 728.4 billionIndia's forex reserves reached an all-time high of USD 728.494 billion during the week ended February 27, 2026 — the highest ever in India's history. The reserves subsequently declined to around USD 682 billion by May 2026 due to the West Asia conflict's impact on crude oil prices and RBI's intervention to stabilize the rupee. India is among the world's top 5 holders of foreign exchange reserves.
📈 EconomyQ28
India's sovereign credit rating was upgraded to 'BBB' with a 'Stable' trend by which global rating agency in 2026?
AMoody's
BFitch Ratings
CStandard and Poor's
DMorningstar DBRS
✅ Answer: D) Morningstar DBRSMorningstar DBRS upgraded India's credit rating to 'BBB' with a 'Stable' trend in 2026. India's current ratings from the three major agencies remain: Moody's (Baa3 — lowest investment grade), S&P (BBB- — lowest investment grade), and Fitch (BBB- — lowest investment grade). All are at investment grade, allowing foreign institutional investors to invest in Indian bonds.
📝 Section 7 — India-Japan Summit & BRICS 2026
🌐 Summit🔥 Most ExpectedQ29
The 16th India-Japan Annual Summit held in July 2026 resulted in how many outcomes and what is India-Japan bilateral trade?
A12 outcomes — USD 20 billion
B16 outcomes — USD 27.47 billion
C18 outcomes — USD 35 billion
D20 outcomes — USD 40 billion
✅ Answer: B) 16 outcomes — USD 27.47 billionThe 16th India-Japan Annual Summit resulted in 16 outcomes covering defence, AI, energy, semiconductors, and supply chains. Japanese PM Sanae Takaichi visited India on July 1–3, 2026. India-Japan bilateral trade reached USD 27.47 billion in FY 2025-26, with Japan being India's 10th largest trading partner. Japan is also India's 5th largest FDI source contributing 6% of total FDI inflows.
🌐 SummitQ30
India's BRICS Chairship 2026 theme focuses on which four pillars?
✅ Answer: B) Resilience, Innovation, Cooperation, SustainabilityIndia's BRICS Chairship 2026 theme is "Building for Resilience, Innovation, Cooperation and Sustainability" — a people-centric, humanity-first approach. BRICS currently has 11 member countries after the 2024 expansion including Egypt, Ethiopia, Iran, Saudi Arabia, and UAE joining the original Brazil, Russia, India, China, and South Africa.
📝 Section 8 — Government Schemes & Miscellaneous Banking
📋 Schemes🔥 Most ExpectedQ31
Under Budget 2026-27, individual Persons Resident Outside India (PROI) investment limit under the Portfolio Investment Scheme was increased from 5% to what percentage?
A7%
B10%
C15%
D20%
✅ Answer: B) 10%Budget 2026-27 increased the investment limit for individual Persons Resident Outside India (PROIs) under the Portfolio Investment Scheme (PIS) from 5% to 10% in equity instruments of listed Indian companies. This move opens Indian capital markets further to the global Indian diaspora of approximately 32 million people worldwide.
📋 SchemesQ32
Under the RBI FCNR(B) Swap Facility announced in June 2026, how much in foreign currency inflows is the scheme expected to attract by September 2026?
AUSD 10–15 billion
BUSD 20–25 billion
CUSD 35–40 billion
DUSD 50–60 billion
✅ Answer: C) USD 35–40 billionBankers estimate RBI's FCNR(B) Swap Facility announced June 8, 2026 will attract USD 35–40 billion in foreign currency inflows by September 2026. The scheme exempts fresh FCNR(B) deposits (3–5 year tenor) from CRR and SLR, and provides an at-par USD-INR swap translating into around 280–300 basis points hedging cost concession versus market rates.
📈 EconomyQ33
Budget 2026-27 increased the Securities Transaction Tax (STT) on futures trading from what rate to what rate?
A0.01% to 0.02%
B0.02% to 0.05%
C0.05% to 0.10%
D0.10% to 0.15%
✅ Answer: B) 0.02% to 0.05%Budget 2026-27 increased STT on futures from 0.02% to 0.05%. STT on options was also increased from 0.1% to 0.15% (on premium). STT is a direct tax levied on transactions done on recognized stock exchanges. The increase generates additional revenue and aims to moderate speculative derivative trading.
🏛️ BankingQ34
SEBI launched the GARUDA Green Channel Framework in June 2026 for which type of financial vehicles?
AMutual Funds
BAlternative Investment Funds (AIFs)
CReal Estate Investment Trusts
DPortfolio Management Services
✅ Answer: B) Alternative Investment Funds (AIFs)SEBI launched GARUDA (Governance and Regulatory Upgrades for Developing AIFs) Green Channel Framework for AIFs in June 2026 to streamline AIF registration approvals and improve governance. AIFs are privately pooled investment vehicles that collect funds from sophisticated investors with a minimum investment of Rs 1 crore. AIF industry in India has crossed Rs 10 lakh crore in commitments.
💰 BudgetQ35
Budget 2026-27 announced City Economic Regions (CERs) with how much central allocation per CER over five years?
ARs 2,000 crore per CER
BRs 3,500 crore per CER
CRs 5,000 crore per CER
DRs 7,500 crore per CER
✅ Answer: C) Rs 5,000 crore per CERBudget 2026-27 announced City Economic Regions (CERs) with Rs 5,000 crore per CER over five years through a challenge mode with reform-cum-results based financing mechanism. CERs will be mapped based on specific economic growth drivers. This is India's equivalent of Special Economic Zones (SEZs) at a broader regional scale.
🌐 SummitQ36
The 'Guwahati Declaration' adopted in July 2026 by BRICS anti-drug agencies targets which challenge?
AWomen's empowerment in BRICS nations
BTackling transnational drug syndicates
CClimate change financing
DSemiconductor supply chain cooperation
✅ Answer: B) Tackling transnational drug syndicatesBRICS nations adopted the 'Guwahati Declaration' to tackle transnational drug syndicates at a high-level meeting of BRICS anti-drug agencies in Guwahati on July 6–7, 2026. India called for a robust partnership built on real-time intelligence sharing. This was a significant output of India's BRICS Chairship 2026 focused on security cooperation.
📋 SchemesQ37
Budget 2026-27 reduced TCS (Tax Collected at Source) on overseas tour programme packages to what uniform rate?
A1%
B2%
C3%
D5%
✅ Answer: B) 2%Budget 2026-27 reduced TCS on overseas tour programme packages from 5%/20% to a uniform 2% without any amount-based threshold. TCS for education and medical purposes under the Liberalised Remittance Scheme (LRS) was also reduced from 5% to 2%. These reductions ease the outward remittance burden for Indian students, medical tourists, and travellers.
📈 EconomyQ38
Biopharma SHAKTI announced in Budget 2026-27 stands for which full form and carries what outlay?
AStrategy for Healthcare Achievement through Knowledge Transfer — Rs 5,000 crore
BStrategy for Healthcare Advancement through Knowledge Technology and Innovation — Rs 10,000 crore
CSystem for Health Analytics and Knowledge Technology Innovation — Rs 7,500 crore
DScheme for Healthcare Automation through Knowledge Technology Innovation — Rs 15,000 crore
✅ Answer: B) Strategy for Healthcare Advancement through Knowledge Technology and Innovation — Rs 10,000 croreBiopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) was announced in Budget 2026-27 with Rs 10,000 crore outlay over five years. It aims to develop India as a global biopharma manufacturing hub for biologics and biosimilars, with 3 new NIPERs and a network of 1,000+ accredited India Clinical Trials sites.
🏛️ BankingQ39
India's IBPS PO 2026 Mains exam introduced a Descriptive Test. How many marks does the Descriptive Test carry and what is its duration?
A15 marks — 20 minutes
B25 marks — 30 minutes
C30 marks — 40 minutes
D50 marks — 60 minutes
✅ Answer: B) 25 marks — 30 minutesIBPS PO Mains 2026 includes a Descriptive Test of 25 marks with a 30-minute duration. Candidates must write an essay and a comprehension-based response in English. The total IBPS PO Mains exam is 225 marks (200 marks objective + 25 marks descriptive). Candidates must score the minimum cut-off in the descriptive section for it to count towards merit.
📈 EconomyQ40
Budget 2026-27 announced how many High-Speed Rail corridors to be developed as 'growth connectors' between Indian cities?
A5 corridors
B7 corridors
C9 corridors
D12 corridors
✅ Answer: B) 7 corridorsBudget 2026-27 announced seven High-Speed Rail corridors as 'growth connectors' between cities to promote environmentally sustainable passenger transport systems. One of these is the Varanasi–Siliguri corridor connecting eastern India. India's first high-speed rail project — Mumbai-Ahmedabad HSRP (bullet train) using Japanese Shinkansen technology — is already under construction.
📊 IBPS Current Affairs — Monthly Coverage Timeline
February 2026 — Union Budget 2026-27
Fiscal deficit 4.3% of GDP · Capex Rs 12.2 lakh crore · High Level Committee on Banking · ISM 2.0 · Biopharma SHAKTI · Tax holiday IFSC extended to 20 years
April–June 2026 — RBI Policy & Circulars
Repo rate cut to 5.25% · FCNR(B) Swap Facility · .bank.in domain mandate · TReDS Master Directions · AI Model Risk Management draft · RB-IOS 2026 effective July 1
July 1–5, 2026 — India-Japan & BRICS
16th India-Japan Summit (16 outcomes) · UNICORN defence project · Guwahati Declaration on drugs · BRICS Women Meet Kochi · IIM Bangalore overseas campus in Indonesia
❓ Frequently Asked Questions — IBPS Current Affairs 2026
How many Current Affairs questions come in IBPS PO Mains 2026?
The IBPS PO Mains 2026 General/Economy/Banking Awareness section carries 40 marks and is part of the 170-question, 200-mark objective test. It includes approximately 15 to 20 Current Affairs questions, 10 to 15 Banking Awareness questions, and 8 to 10 Static GK questions. The section has no separate sectional time limit as the entire Mains objective test is 160 minutes. Current Affairs in IBPS PO focuses primarily on the last 6 months before the exam date (so April–October 2026 for IBPS PO Mains 2026).
What is the IBPS PO 2026 exam date?
IBPS PO Preliminary Exam 2026 will be held on August 22 and 23, 2026. IBPS PO Mains Exam will be held on October 4, 2026. The selection process includes Prelims (qualifying only — marks not counted), Mains (80% weight), and Interview (20% weight). Final merit is based on the 80:20 ratio of Mains and Interview marks. The IBPS PO 2026 notification was released under CRP PO/MT-XVI.
What current affairs topics are most important for IBPS PO 2026?
The 7 most important topics are: (1) RBI monetary policy decisions and appointments — tested in every IBPS exam, (2) Banking sector mergers, appointments, and new regulations, (3) Union Budget 2026-27 highlights — fiscal deficit, capital expenditure, banking proposals, (4) International summits — India-Australia, India-Japan, BRICS, G20, (5) Digital payments — UPI milestones, NPCI initiatives, RBI digital banking circulars, (6) Economic indicators — GDP growth forecast, inflation data, forex reserves, (7) New government financial schemes and their ministries. The GA section in IBPS PO is a score booster — it requires no calculation.
How is IBPS Clerk different from IBPS PO for Current Affairs?
IBPS Clerk Mains has a General/Financial Awareness section of 50 questions for 50 marks. Unlike IBPS PO, there is no interview in IBPS Clerk — 100% final merit is based on Mains marks alone. IBPS Clerk GA is slightly easier than IBPS PO and focuses more on basic banking awareness, government schemes, and recent appointments rather than complex monetary policy or budget analysis. There is also no Descriptive Test in IBPS Clerk. The final qualifying stage for IBPS Clerk is the Language Proficiency Test (LPT) conducted by the allotted bank.
What is the current RBI Governor and repo rate for IBPS 2026 exam?
The current RBI Governor (as of July 2026) is Sanjay Malhotra — the 26th RBI Governor — who took charge in December 2024 succeeding Shaktikanta Das (25th RBI Governor). The current repo rate is 5.25% following the June 2026 MPC meeting where RBI kept rates unchanged with a neutral stance. The reverse repo is 3.35%, MSF rate is 5.50%, CRR is 4%, and SLR is 18%. Memorize the complete rate table — these are guaranteed questions in every IBPS PO and Clerk exam.
How to prepare Current Affairs for IBPS PO Mains in 30 days?
Week 1: Cover all RBI MPC decisions from the last 6 months — repo rate changes, GDP forecast (6.6% FY27), new circulars (RB-IOS 2026, .bank.in domain, TReDS Master Directions, AI Model Risk Management). Week 2: Union Budget 2026-27 — fiscal deficit (4.3%), capital expenditure (Rs 12.2 lakh crore), High Level Committee on Banking, Income Tax Act 2025, ISM 2.0, Biopharma SHAKTI. Week 3: International summits — 3rd India-Australia Summit (18 outcomes, uranium deal, PACTS, Gaganyaan tracking), 16th India-Japan Summit (16 outcomes), BRICS Chairship 2026. Week 4: Banking sector news — Kotak-Deutsche deal, HDFC Bank chairman, UPI Rs 29.90 trillion record, SEBI GARUDA framework, IBC 10 years. Practice 10 IBPS-focused current affairs questions daily on GK Capsule throughout all 4 weeks.