Daily Current Affairs May 26

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs May 26. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

May 26| Daily Current Affairs 2022

Important Days – Daily Current Affairs May 26

1. International Missing Children’s Day is celebrated on?
A) May 23
B) May 22
C) May 25
D) May 21
E) May 24
Answer: C) May 25

• International Missing Children’s Day (IMCD) is celebrated on May 25, the AFP looks to raise awareness of the impact and long-term suffering of families who are waiting for answers about their missing child.
• Missing Children’s Day began as an observance in the USA in 1983.
• The date was chosen following the disappearance of 6-year-old Etan Patz on 25th May 1979 from New York City.

---

Banking and Finance – Daily Current Affairs May 26

2. RBI canceled certificate of registration of how many NBFCs?
A) 5
B) 6
C) 3
D) 4
E) 7
Answer: A) 5

• The Reserve Bank has cancelled the certificate of registration issued to five Non-Banking Financial Companies (NBFCs) — UMB Securities and Anashri Finvest (both Bengaluru-based), Chadha Finance (New Delhi), Alexcy Tracon (Kolkata) and Jhuria Financial Services (Guwahati) — due to irregular lending practices.
• The certificates of the abovementioned NBFCs have been cancelled on account of violation of RBI’s guidelines on outsourcing and Fair Practices Code in their digital lending operations undertaken through third party apps; this was considered detrimental to public interest.

---

3. MobiKwik announced launch of ‘AutoBill Pay’ feature for its ___mn ZIP users?
A) 10
B) 50
C) 45
D) 35
E) 25
Answer: E) 25

• MobiKwik has announced the launch of the ‘AutoBill Pay’ feature for its 25 million ZIP users to simplify recurring bill payments.
• ZIP is MobiKwik’s flagship ‘Buy Now Pay Later’ (BNPL) product which extends a line of credit to its users.
• This feature is designed to help ZIP users pay multiple bills such as electricity, water, gas, mobile, DTH, etc. automatically every month using the BNPL credit line.
• To activate the feature, the users will have to register their billers on the MobiKwik app and enable the AutoBill Pay feature.

---

4. MUFG Bank got nod to set up branch at GIFT City,it belong to which country?
A) Mongolia
B) Japan
C) South Korea
D) China
E) Myanmar
Answer: B) Japan

• MUFG Bank will be the first Japanese Bank to open branch at Gujarat International Financial Tech City (GIFT City) in a bid to offer a wide range of banking services to both domestic and global clients.
• MUFG Bank has obtained necessary approvals from the International Financial Services Centre Authority in India and the Financial Services Agency in Japan, to open a branch at GIFT City.
• MUFG had opened its first branch in Mumbai in 1953.

---

5. Govt committed to privatisation of how many public sector banks?
A) 5
B) 4
C) 3
D) 2
E) 1
Answer: D) 2

• In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises
• Besides, sources also said the divestment of BPCL is also on the card and fresh bids will be invited.
• The government had to cancel the sale as only a single bidder was left in the fray, sources said.
• The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020.
• At least three bids came in by November 2020 but only one remains now after the others withdrew from the race.
• The Cabinet, in November 2019, had approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor out of the government equity of 54.80 per cent.
• The government will retain 24 per cent stake post-sell-off but without any veto powers.
• The government think-tank NITI Aayog has already suggested two banks and one insurance company to the Core Group of Secretaries on Disinvestment for privatisation.
• According to sources, Central Bank of India and Indian Overseas Bank are likely candidates for privatisation.

---

Business and Economy – Daily Current Affairs May 26

6. Govt notified new vehicle insurance rates, what is the discount for educational institute buses?
A) 15%
B) 10%
C) 20%
D) 25%
E) 30%
Answer: A) 15%

• The ministry of road transport and highways has revised base premium rates for third-party insurance of vehicles for the first time since the onset of Covid-19.
• For new private cars upto 1000 cc, the yearly base premium rate has gone up by Rs 22 from 2019-20 to Rs 2,094, while that for cars between 1000 and 1500 cc is Rs 3,416 (up by Rs 195), while third party insurance for cars exceeding 1500 cc will cost Rs 7,897 (up by Rs 7).
• For new two-wheelers under 75 cc, annual premium has been hiked to Rs 538, while 75-150 cc premium has been hiked to Rs 714, 150-350 cc premium has gone up to Rs 1366, and that for heavy 350+ cc bikes has gone up to Rs 2804.
• Base premium rates for electric vehicles have also been hiked.
• For new private cars not exceeding 30 kilowatts, annual premium has been fixed at Rs 1,780, while that for 30-65 kw e-cars is Rs 2904.
• New private cars over 65 kw will attract a premium of Rs 6712.
• E-scooters and other electric two-wheeler rates have also been revised.
• The annual premium on new electric two-wheelers under 3 kw will be Rs 457, between 3 kw and 7 kw at Rs 607.
• Base rate for 7-16 kw two-wheelers has been set at Rs 1,161 and high-powered two-wheelers above 16 kw will see an annual premium of Rs 2383.
• A discount of about 15 per cent and 7.5 per cent on the premium has been allowed for Electric and Hybrid Electric Vehicles.
• Educational institution buses will also be eligible for a 15 per cent discount.

---

7. Moody’s slashes Indian economy growth forecast to how many percent for 2022?
A) 8.75%
B) 8.4%
C) 8.8%
D) 8.5%
E) 8.3%
Answer: C) 8.8%

• Moody’s Investors Service slashed India’s economic growth projection to 8.8 percent for 2022 from 9.1 percent earlier, citing high inflation.
• In its update to Global Macro Outlook 2022-23, Moody’s said high-frequency data suggest that the growth momentum from December quarter 2021 carried through into the first four months this year.

---

Acquisitions and Mergers – Daily Current Affairs May 26

8. GIC boughthow many percent stake in Aditya Birla Fashion and Retail for Rs 2,195 crore?
A) 15%
B) 5%
C) 12.5%
D) 10%
E) 7.5%
Answer: E) 7.5%

• GIC, Singapore’s sovereign wealth fund, is acquiring a 7.5% equity stake in Aditya Birla Fashion and Retail (ABFRL) for Rs 2,195 crore.
• The investment will be made by way of preferential equity and warrants.
• In the first tranche, GIC will invest Rs 770 crore, while the remaining Rs 1,425 crore would be infused within 18 months.
• After the investment, Aditya Birla Group will hold a controlling stake of 51.9% in the company.

---

9. Cabinet cleared sale of govt’s 29.58 pc stake in HZL valued at how many crore?
A) 39,000
B) 48,000
C) 47,000
D) 38,000
E) 37,000
Answer: D) 38,000

• The Union Cabinet approved the sale of the government’s residual 29.58 per cent stake in Hindustan Zinc Ltd, which at current prices would fetch over Rs 38,000 crore to the exchequer.
• The Cabinet Committee on Economic Affairs (CCEA) approved the sale of 124.9 crore shares government holds in the zinc producer which was sold to mining mogul Anil Agarwal’s Sterlite Industries in 2002.
• The decision would give a push to the government’s disinvestment drive in the current fiscal.
• The government has budgeted Rs 65,000 crore from PSU disinvestments and strategic sales.
• It has already got a little over Rs 20,500 crore from sale of its 3.5 per cent stake in Life Insurance Corporation (LIC).
• HZL has been taken up after privatisation of Bharat Petroleum Corporation Ltd (BPCL) got stalled following two of the three bidders walking out of the contest.
• Other strategic disinvestments such as Shipping Corporation of India (SCI) are facing procedural delays.
• The government had in 2002 sold its 26 per cent shareholding along with management control to Sterlite, which is part of Agarwal’s Vedanta group, for Rs 40.5 per share.
• A year later, another 18.92 per cent was bought by the mining conglomerate.
• In the two transactions, the government got around Rs 769 crore.

---

10. HDFC divested how many pc stake in HCAL to Abu Dhabi Investment Authority for Rs 184 cr?
A) 25%
B) 10%
C) 5%
D) 15%
E) 30%
Answer: B) 10%

• The country’s largest mortgage lender HDFC Ltd has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore.
• With this, HCAL ceases to be a wholly-owned subsidiary of HDFC.
• In April, Housing Development Finance Corporation (HDFC) had entered into a share purchase agreement for sale of 2,35,019 equity shares of HCAL, representing 10 per cent of paid-up share capital, to a wholly-owned subsidiary of Abu Dhabi Investment Authority.
• The sale, at a price of Rs 7,841.49 per equity share, aggregating to a consideration of Rs 184.29 crore.
• Pursuant to this sale, HCAL has ceased to be a wholly-owned subsidiary of HDFC.
• However, it continues to be a subsidiary of the corporation.
• Stock of HDFC traded at Rs 2,282 apiece on BSE during noon trade, up by 1.99 per cent from previous close.

---

11. CIL to divest how many percent stake in BCCL; plans subsequent listing?
A) 45%
B) 30%
C) 35%
D) 20%
E) 25%
Answer: E) 25%

• State-owned CIL is planning to divest a 25 percent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances.
• CIL Board in its 438th meeting held on March 10, 2022, had accorded its ‘in-principle’ approval to divest 25 percent of paid-up share capital of BCCL held by CIL and its subsequent listing on stock exchanges and advised to forward the proposal to Ministry of Coal for obtaining further clearances.

---

Appointments – Daily Current Affairs May 26

12. Health Secretary appointed as chairperson of Committee B at ___ World Health Assembly?
A) 75th
B) 70th
C) 74th
D) 72nd
E) 71st
Answer: A) 75th

• Union Health Secretary Rajesh Bhushan has been appointed as the chairperson of the Committee B at the 75th World Health Assembly (WHA).
• The Committee B primarily discusses administrative and financial matters of the World Health Organization (WHO).

---

13. SBI MF appointed DP Singh as DyMD, he previously work in which of the following bank?
A) Central Bank of India
B) UCO Bank
C) SBI
D) Indian Bank
E) Bank of India
Answer: C) SBI

• SBI Fund Management has designated its executive director and chief business officer DP Singh as Deputy Managing Director.
• Singh has over 30 years of experience in Banking and Financial services industry.
• Before taking over as the ED and CMO in May 2012, Singh was the National Sales Head.
• He has been with SBI FM since 1998, and has been instrumental in expanding SBI MF’s reach in both the urban and rural areas.
• Prior to joining SBI FM, he was with the SBI where he handled various assignments in retail banking, corporate credit and information technology.

---

National Affairs – Daily Current Affairs May 26

14. Shirui Lily festival began in which of the following state?
A) Assam
B) Manipur
C) Mizoram
D) Meghalaya
E) Nagaland
Answer: B) Manipur

• The fourth edition of the Shirui Lily Festival began at Shirui village in Manipur’s Ukhrul district.
• Governor La Ganesan inaugurated the four-day event that is taking place after a gap of two years due to the COVID-19 pandemic.
• Besides Shirui village, the cultural extravaganza will also be held at Bakshi Ground in Dungrei where musical bands from across the country will participate in a singing competition titled ‘Shirock’.

---

15. UP finance minister presented over how many lakhcr budget for FY23?
A) 3.15
B) 4.15
C) 5.15
D) 6.15
E) 7.15
Answer: D) 6.15

• Uttar Pradesh Finance Minister Suresh Kumar Khanna tabled Yogi Adityanath’s second term government’s maiden budget of over Rs 6.15 lakh crore in the state assembly.
• The Rs 615518.97 crore budget for the financial year 2022-23 has a provision of Rs 39,181.10 crore for the new schemes.
• The Adityanath government had presented Rs 550270.78 crore budget for the financial year 2021-22.

---

16. India’s first CTIED inaugurated at which NIT?
A) Mumbai
B) Lucknow
C) Kanpur
D) Patna
E) Srinagar
Answer: E) Srinagar

• India’s first Centre for Technology Intervention for Elderly and Disabled (CTIED) was inaugurated at National Institute of Technology Srinagar.
• CTIED Chairman Dr M A Bazaz apprised the members of the various technological innovations in tackling disability in the elderly and disabled in the country.
• This centre will work towards the development of innovative, assistive technology and services that are affordable and appropriate in terms of culture, gender, and age of the elderly.

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs May 25