Candidates preparing for RBI Grade B, NABARD Grade A, SEBI, along other regulatory and banking examinations will find PIB-based current affairs extremely important for scoring well. The May 2026 current affairs session includes key updates from inflation trends, GDP forecasts, RBI and SEBI regulations, global reports, government schemes, rankings, and defence developments.
In this blog, we provide PIB May 2026 Current Affairs Practice Questions along with a downloadable PDF to help you revise effectively for upcoming competitive exams.
Download PIB May Current Affairs Practice Quiz PDF
Boost your preparation with the PIB May 2026 Current Affairs Practice Quiz PDF. This PDF contains carefully selected questions based on important May 2026 PIB updates including RBI policy changes, GDP forecasts, banking reforms, global economic reports, government schemes, and defence-related developments.
Attempt PIB May Current Affairs Practice Quiz
This quiz is designed to test your understanding of important PIB-based current affairs from May 2026. It includes questions from banking, economy, government schemes, international reports, and regulatory updates.
1. Which digital platform was launched during the 75th Anniversary celebration of the National Rifle Association of India (NRAI)?
2. Under the NRAI Grassroot Initiative (April 2026), how many students are targeted to be introduced to shooting before the 2028 Olympics?
3. The Namo Stall Scheme is linked to which government initiative?
4. In the first phase of the Namo Stall Scheme, how many stalls are allotted per vendor?
5. Which Indian university ranked highest in the Times Higher Education (THE) Asia University Rankings 2026?
6. Which university secured the first position in THE Asia University Rankings 2026?
7. How many Indian universities featured in THE Asia University Rankings 2026?
8. Where was the SCO Defence Ministers Meeting 2026 held?
9. India became a full member of the Shanghai Cooperation Organisation (SCO) in which year?
10. The RBI’s revised framework for NBFCs becomes effective from which date?
11. Under the RBI’s disaster relief framework, what is the opt-out period?
12. SEBI’s PARRV (Passive Risk and Return Verification) role was assigned to which agency?
13. Who was appointed as the President of the National Company Law Tribunal (NCLT) in April 2026?
14. DRDO and the Indian Navy tested the Naval Anti-Ship Missile (NSM SR) from which state?
15. The MIT Silicon Photonics PDK (Process Design Kit) consists of how many components?
16. Which company received approval under India’s Semiconductor Mission?
17. What is the total outlay announced for ECLGS 5.0 (Emergency Credit Line Guarantee Scheme)?
18. What is the central outlay for the Sarthak PDS (Public Distribution System) scheme?
19. Which agencies jointly launched the SEHAT mission?
20. What is the total outlay for Mizoram’s Ginger Mission?
21. How many farming households are to be integrated under the Mizoram Ginger Mission?
22. What is the target group of NHAI’s Project SAKSHAM?
23. What is the total outlay of Nagaland’s Coffee Mission?
24. What is the primary purpose of CBI’s AI chatbot ‘Abhay’?
25. What is the total outlay for Tripura’s Mission Queen Pineapple?
26. What is the full form of LPPI launched by Union Minister Sarbananda Sonowal during the 37th Foundation Day of Jawaharlal Nehru Port Authority in May 2026?
27. Where is India’s first SME-led semiconductor ATMP facility located?
28. What is the total cost of Mission Arunachal Kiwi?
29. How many companies were approved under the Critical Mineral Recycling Scheme (ISPCMR)?
30. What is the new base year adopted by MOSPI for Gross State Value Added (GSVA) calculations?
31. What is the name of India’s first AI air-powered UCAV (Unmanned Combat Aerial Vehicle)?
32. Where is India’s first private marine gas turbine repair complex located?
33. Which valley is the site of India’s first geothermal power project?
34. Which Union Territory was notified for a new Special Economic Zone (SEZ) project worth Rs. 1,975 crore?
35. Which state became India’s first to achieve fully paperless judiciary?
36. What is the funding pattern of PMGSY (Pradhan Mantri Gram Sadak Yojana) Phase IV?
37. Which authority manages the Atal Pension Yojana (APY)?
38. What is the annual premium for Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
39. Under the National Pension System (NPS) retirement income scheme, the age limit has been extended to?
40. What is the total financial outlay of the BHAVY (Bharat Industrial Development Scheme) initiative?
41. India’s projected real GDP growth for FY26 as per SBI research report was?
42. India’s GDP forecast for FY27 as per the UN Department of Economic and Social Affairs (WESP 2026) is?
43. Which country overtook India as the 5th largest stock market in the world?
44. The 10th Indian Ocean Dialogue held in May 2026 was themed around?
45. Which state topped the Panchayat Advancement Index 2.0?
46. India’s total remittance received in 2024 as per the IOM report was?
47. What was the Rural Female Labour Force Participation Rate (LFPR) in 2025 as per MOSPI data?
48. India’s Total Health Expenditure as a percentage of GDP as per National Health Accounts is?
49. According to CMFRI 2025 data, which state is the top marine fish producing state in India?
50. The RBI maintained a contingency risk buffer of what percentage of its balance sheet for FY 2025-26?
Quiz Summary
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What are the most important PIB May 2026 current affairs topics?
The PIB May 2026 current affairs focus on key areas that are highly relevant for banking and government examinations. These include macroeconomic indicators, regulatory updates, global rankings, and government schemes. The major focus areas are factual recall-based questions such as GDP growth, inflation, RBI policy changes, and international economic reports.
| Category | Key Points |
| RBI Updates | NBFC regulatory amendments effective from 1st July 2026 |
| Economy | Inflation around 5.1%, GDP forecasts between 6%–7.2% |
| SEBI | AI-based cyber security risk framework and verification systems |
| Global Reports | IMF, World Bank, UN DES economic outlook |
| Schemes | Rural development and MSME-related initiatives |
| Defence | Missile tests, India–Japan agreements |
What are the key GDP and inflation updates in PIB May 2026?
India’s economic outlook in May 2026 remains stable with moderate inflation and steady GDP growth projections. Multiple global institutions have provided forecasts showing India among the fastest-growing major economies. Inflation is projected at around 5.1%, while GDP growth estimates range between 6% and 7.2% depending on the institution.
| Indicator | Value | Source |
| Inflation | 5.1% | Domestic estimates |
| Real GDP (short term) | 7.2% | SBI Research |
| Nominal GDP | 12.2% | Government estimates |
| FY26 GDP forecast | 6% | Moody’s |
| FY27 GDP forecast | 6.7% | Morgan Stanley |
| UN DES FY27 | 6.4% | UN DES |
Also Check: What toppers do differently while preparing PIB for RBI Grade B?
What are the major RBI, SEBI, and banking updates?
The regulatory developments from RBI and SEBI are important for banking awareness sections. RBI introduced amendments related to NBFC registration exemptions, effective from 1st July 2026. These changes aim to improve compliance and streamline regulatory processes.
SEBI introduced frameworks focusing on AI-driven cyber security risks and verification mechanisms for market intermediaries. CARE Ratings was recognized as a verification body under the regulatory framework.
- NBFC regulatory amendment effective from 1st July 2026
- CARE Ratings appointed as verification agency
- SEBI AI-based cyber security risk framework
- DRDO missile test range of approximately 75 km
- Taiwan became the fifth largest stock market due to semiconductor and AI growth
What are the important government schemes and initiatives?
Government schemes and development programs are a key part of PIB-based current affairs.
- Panchayat Advancement Index 2.0 launched by the Ministry of Rural Development
- Marine fish production reached 35.7 lakh tonnes with Tamil Nadu as the top state
- CMFRI released marine fisheries data for 2025
- PM SVANidhi scheme linked with Namo Stall initiative
- MSME and rural development-focused programs expanded
FAQs
It focuses on economy, banking regulations, government schemes, and international developments.
The projected headline inflation rate is around 5.1%.
India’s GDP growth forecast for FY26 is around 6% to 7.2% depending on institutions.
The Reserve Bank of India (RBI) updates NBFC regulatory changes.
CARE Ratings was recognized as a verification agency under SEBI framework.
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