Daily Current Affairs May 13

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May 13 | Daily Current Affairs 2026

Sports – Daily Current Affairs May 13

1. Which franchise in the European T20 Premier League will be owned by Rahul Dravid?
A) Belfast franchise
B) Edinburgh franchise
C) Dublin Guardians
D) Amsterdam franchise
E) Rotterdam franchise
Answer: C) Dublin Guardians.

Event and Location:

• Event: Rahul Dravid became the owner of the Dublin Guardians franchise in the European T20 Premier League.
• Location: Dublin, Ireland.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The European T20 Premier League will be launched as Europe’s first ICC-sanctioned multi-country franchise T20 competition involving Ireland, Scotland, and the Netherlands.
• Objectives: The tournament aims to accelerate cricket’s growth in Europe through a franchise-based structure and international cricket board partnerships.

Important Terms Explained:

• European T20 Premier League: It is a franchise-based T20 cricket competition involving teams from Ireland, Scotland, and the Netherlands.
• ICC-Sanctioned Tournament: It refers to a cricket competition approved by the International Cricket Council under its official regulatory framework.
• Franchise T20 Competition: It is a league format where privately owned teams compete in Twenty20 cricket matches.
• Dublin Guardians: It is one of the six inaugural franchises in the European T20 Premier League and will be owned by Rahul Dravid.

Tabular Summary:

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Obituary – Daily Current Affairs May 13

2. Who was popularly known as Tutu Bose and passed away at the age of 79 in Kolkata?
A) Arinjoy Bose
B) Swapan Sadhan Bose
C) Subrata Bhattacharya
D) Sailen Manna
E) Gostha Pal
Answer: B) Swapan Sadhan Bose.

Event and Location:

• Event: Swapan Sadhan Bose, former Mohun Bagan president, passed away at the age of 79.
• Location: Kolkata, West Bengal.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The news reports the demise of former Mohun Bagan president Swapan Sadhan Bose after a cardiac arrest in Kolkata.
• Objectives: The report highlights his contribution to Mohun Bagan’s administration and his long association with Indian football.

Important Terms Explained:

• Mohun Bagan: It is one of India’s oldest and most successful football clubs, founded in 1889.
• Cardiac Arrest: It is a medical emergency in which the heart suddenly stops beating effectively.
• IFA Shield: It is a historic football tournament in India, remembered for Mohun Bagan’s 1911 victory over East Yorkshire Regiment.
• Football Administrator: It refers to a person responsible for managing, organizing, and guiding the functioning of a football club or association.

Tabular Summary:

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3. Who was Prateek Yadav, who passed away in Lucknow on 13 May 2026?
A) Son of Akhilesh Yadav
B) Younger son of Mulayam Singh Yadav
C) Founder of Samajwadi Party
D) President of Bharatiya Janata Party
E) Chief Minister of Uttar Pradesh
Answer: B) Younger son of Mulayam Singh Yadav.

Event and Location:

• Event: Prateek Yadav, younger son of late Samajwadi Party founder Mulayam Singh Yadav, passed away at the age of 38.
• Location: Lucknow, Uttar Pradesh.
• Date: 13 May 2026.

Mandates and Objectives:

• Mandates: The news reports the death of Prateek Yadav, who was declared dead after being brought to Lucknow Civil Hospital.
• Objectives: The report highlights his family background, private business-focused life, and the political reactions following his demise.

Important Terms Explained:

• Samajwadi Party: It is a political party founded by Mulayam Singh Yadav and mainly associated with politics in Uttar Pradesh.
• Lucknow Civil Hospital: It is the hospital where Prateek Yadav was taken before doctors declared him dead.
• The Fitness Planet: It was a gym reportedly operated by Prateek Yadav in Lucknow.
• Jeev Ashray: It is an organization associated with rescue and care activities for stray animals.

Tabular Summary:

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Banking and Finance – Daily Current Affairs May 13

4. Which institution signed an MoU with the Reserve Bank of India to strengthen online banking security and tackle mule accounts?
A) National Payments Corporation of India
B) Indian Cyber Crime Coordination Centre
C) Securities and Exchange Board of India
D) Insurance Regulatory and Development Authority of India
E) Financial Intelligence Unit
Answer: B) Indian Cyber Crime Coordination Centre.

Event and Location:

• Event: Indian Cyber Crime Coordination Centre signed an MoU with the Reserve Bank of India to strengthen cyber fraud detection.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The MoU enables collaboration between cyber crime authorities and financial institutions to identify mule accounts and improve fraud-risk intelligence sharing.
• Objectives: The initiative aims to strengthen online banking security, detect suspicious transactions faster, and improve coordination against cyber fraud in India’s banking and digital payments ecosystem.

Important Terms Explained:

• MoU: A Memorandum of Understanding is a formal agreement between two or more parties to cooperate on specific objectives.
• Reserve Bank of India: It is India’s central bank and regulates the country’s banking and monetary system.
• Mule Accounts: These are bank accounts used by fraudsters to transfer, hide, or launder illegally obtained money.
• Suspect Registry: It is a database used to identify suspected fraudulent entities or accounts linked to cyber crime activities.
• AI-Based Fraud Detection: It refers to the use of artificial intelligence tools to detect unusual or suspicious financial transactions.

Tabular Summary:

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5. What was the combined net profit of India’s public sector banks in FY 2025–26?
A) ₹1.56 lakh crore
B) ₹1.75 lakh crore
C) ₹1.98 lakh crore
D) ₹2.83 lakh crore
E) ₹3.21 lakh crore
Answer: C) ₹1.98 lakh crore.

Event and Location:

• Event: Public Sector Banks in India recorded a combined net profit of ₹1.98 lakh crore in FY 2025–26.
• Location: India.
• Date: FY 2025–26.

Mandates and Objectives:

• Mandates: The Union Finance Ministry announced that public sector banks achieved record profitability for the fourth consecutive year.
• Objectives: The performance reflects stronger asset quality, higher credit growth, improved income, and a broader turnaround in India’s banking sector.

Important Terms Explained:

• Public Sector Banks: These are banks in which the government holds a majority stake and plays a key role in banking services and credit delivery.
• Net Profit: It is the final profit earned by a bank after deducting all expenses, provisions, and taxes from total income.
• Gross NPA Ratio: It shows the percentage of total loans that have become non-performing before deducting provisions.
• Net NPA Ratio: It shows the percentage of bad loans remaining after adjusting for provisions made by the bank.
• Provisioning Coverage Ratio: It indicates the extent to which banks have set aside funds to cover potential losses from bad loans.

Tabular Summary:

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Business and Economy – Daily Current Affairs May 13

6. What was India’s retail inflation rate in April 2026?
A) 3.21%
B) 3.40%
C) 3.48%
D) 3.80%
E) 4.20%
Answer: C) 3.48%.

Event and Location:

• Event: India’s retail inflation rose slightly to 3.48% in April 2026 due to higher food prices.
• Location: India.
• Date: April 2026.

Mandates and Objectives:

• Mandates: India’s Consumer Price Index-based retail inflation data showed a rise from 3.40% in March 2026 to 3.48% in April 2026.
• Objectives: The inflation data aims to track price movements in essential goods and services while assessing risks from food prices, crude oil prices, geopolitical tensions, and rupee weakness.

Important Terms Explained:

• Consumer Price Index: It measures changes in the retail prices of goods and services purchased by households.
• Retail Inflation: It refers to the rise in consumer-level prices of goods and services over a specific period.
• Inflation Target: It is the price stability goal fixed for the Reserve Bank of India, with a 4% target and a tolerance band of 2% to 6%.
• Food Inflation: It measures the increase in prices of food items and directly affects household expenditure.
• Crude Oil Prices: They refer to international prices of unrefined petroleum, which influence fuel, transport, logistics, and manufacturing costs.

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7. What is India’s revised GDP growth forecast for 2026 according to Moody’s Ratings?
A) 5.5%
B) 6%
C) 6.5%
D) 7%
E) 7.5%
Answer: B) 6%.

Event and Location:

• Event: Moody’s Ratings lowered India’s GDP growth forecast for 2026 to 6%.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: Moody’s Ratings revised India’s GDP growth outlook for 2026 and 2027 due to emerging global and domestic economic challenges.
• Objectives: The revision aims to reflect risks from weak private consumption, slower capital formation, declining industrial activity, and rising energy costs.

Important Terms Explained:

• GDP Growth Forecast: It refers to the projected rate at which a country’s economy is expected to expand during a specific period.
• Private Consumption: It means spending by households on goods and services, which forms a major part of India’s economic demand.
• Capital Formation: It refers to investment in assets such as infrastructure, machinery, factories, and business expansion that supports long-term growth.
• Energy Dependency: It refers to reliance on imported energy sources such as crude oil and gas, which can expose an economy to global price shocks.
• Strait of Hormuz: It is a major global oil supply route, and disruptions in this region can affect energy prices and oil-importing economies.

Tabular Summary:

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8. What is the revised import duty on gold and silver announced by the Government of India?
A) 6%
B) 10%
C) 12%
D) 15%
E) 15.4%
Answer: D) 15%.

Event and Location:

• Event: The Government of India increased import duty on gold and silver to 15%.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The government raised customs duty on gold and silver imports from 6% to 15% and increased duty on platinum from 6.4% to 15.4%.
• Objectives: The move aims to reduce non-essential imports, conserve foreign exchange reserves, limit current account pressure, and support the Indian rupee amid global uncertainties.

Important Terms Explained:

• Basic Customs Duty: It is a tax imposed on goods imported into India to regulate imports and generate government revenue.
• Agriculture Infrastructure and Development Cess: It is a cess levied on certain imports to fund agriculture infrastructure and development activities.
• Foreign Exchange Reserves: These are foreign currency assets held by a country’s central bank to manage external payments and currency stability.
• Current Account Deficit: It occurs when a country’s imports of goods, services, and transfers exceed its exports and inflows.
• Gold Dore: It is a semi-pure alloy of gold and silver that is refined further to produce pure gold.

Tabular Summary:

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Appointments – Daily Current Affairs May 13

9. Who took oath as the Chief Minister of Puducherry for the fifth term on 13 May 2026?
A) A. Namassivayam
B) Malladi Krishna Rao
C) K. Kailashnathan
D) N. Rangasamy
E) Droupadi Murmu
Answer: D) N. Rangasamy.

Event and Location:

• Event: N. Rangasamy took oath as Chief Minister of Puducherry for his fifth term.
• Location: Puducherry.
• Date: 13 May 2026.

Mandates and Objectives:

• Mandates: N. Rangasamy was sworn in as Chief Minister after the AINRC-led NDA alliance retained power in the Puducherry Assembly elections.
• Objectives: The new government aims to continue political administration in Puducherry through an alliance-based governance structure between AINRC and BJP.

Important Terms Explained:

• All India N.R. Congress: It is a regional political party in Puducherry founded by N. Rangasamy.
• National Democratic Alliance: It is a political alliance led by the Bharatiya Janata Party at the national level.
• Union Territory: It is an administrative division governed directly by the Union Government, with some Union Territories having elected legislatures.
• Oath of Office and Secrecy: It is a constitutional oath taken by ministers before assuming official responsibilities and maintaining confidentiality in governance.

Tabular Summary:

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10. Who will head the Judicial Infrastructure Advisory Committee formed to modernize court infrastructure across India?
A) Justice Debangsu Basak
B) Justice Ashwani Kumar Mishra
C) Justice Aravind Kumar
D) Justice Somasekhar Sundaresan
E) Surya Kant
Answer: C) Justice Aravind Kumar.

Event and Location:

• Event: Chief Justice of India Surya Kant announced the formation of the Judicial Infrastructure Advisory Committee to modernize court infrastructure nationwide.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The Judicial Infrastructure Advisory Committee will identify infrastructure gaps in courts and prepare a national roadmap for judicial infrastructure development.
• Objectives: The initiative aims to improve court facilities, strengthen digital infrastructure, reduce administrative bottlenecks, and support faster justice delivery across India.

Important Terms Explained:

• Judicial Infrastructure Advisory Committee: It is a committee formed to prepare a national roadmap for improving court infrastructure across India.
• Justice Delivery System: It refers to the institutional process through which courts provide legal remedies and resolve disputes.
• Central Public Works Department: It is a government agency responsible for construction, maintenance, and public infrastructure works for central government institutions.
• Digital Infrastructure: It refers to technology systems such as online case management, digital records, connectivity, and e-court facilities used in judicial administration.

Tabular Summary:

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11. Who has assumed office as President of the Confederation of Indian Industry for the 2026–27 term?
A) Rajiv Memani
B) Suchitra K Ella
C) Shashwat Goenka
D) R Mukundan
E) N Chandrasekaran
Answer: D) R Mukundan.

Event and Location:

• Event: R Mukundan assumed office as President of the Confederation of Indian Industry for the 2026–27 term.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The Confederation of Indian Industry announced R Mukundan as its President for 2026–27, succeeding Rajiv Memani.
• Objectives: The appointment aims to guide industry policy dialogue, strengthen business leadership, and support India’s industrial and economic priorities through CII.

Important Terms Explained:

• Confederation of Indian Industry: It is an industry association that works with government, businesses, and stakeholders to support industrial development and policy dialogue in India.
• President-Designate: It refers to a person selected to assume the role of president in the next term or leadership cycle.
• Tata Chemicals: It is a Tata Group company led by R Mukundan as CEO and Managing Director.
• Industry Body: It is an organization that represents the interests of businesses and industries before policymakers and other stakeholders.

Tabular Summary:

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12. Who has been appointed as India’s next Ambassador to the Sultanate of Oman?
A) Godavarthi Venkata Srinivas
B) Prashant Pise
C) Vinay Mohan Kwatra
D) Harsh Vardhan Shringla
E) Vikram Misri
Answer: B) Prashant Pise.

Event and Location:

• Event: Prashant Pise was appointed as India’s next Ambassador to the Sultanate of Oman.
• Location: Oman.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The Ministry of External Affairs announced the appointment of Prashant Pise as India’s next Ambassador to Oman, succeeding Godavarthi Venkata Srinivas.
• Objectives: The appointment aims to strengthen India’s diplomatic engagement with Oman, especially in areas linked to foreign relations, Indian community welfare, migration, and labour mobility.

Important Terms Explained:

• Indian Foreign Service: It is India’s diplomatic service responsible for managing the country’s external relations and representing India abroad.
• Ministry of External Affairs: It is the Government of India ministry responsible for foreign policy, diplomacy, and international relations.
• Abu Dhabi Dialogue: It is a regional consultative forum focused on labour mobility, migration governance, and worker welfare among Asian labour-sending and receiving countries.
• Emigration Policy and Welfare: It refers to policy measures related to overseas Indian workers, migration systems, and protection of Indian citizens working abroad.

Tabular Summary:

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13. Who has been appointed as Governor of the Federal Reserve by the US Senate?
A) Jerome Powell
B) Kevin Warsh
C) Stanley Druckenmiller
D) Ben Bernanke
E) Janet Yellen
Answer: B) Kevin Warsh.

Event and Location:

• Event: Kevin Warsh was appointed as Governor of the Federal Reserve by the US Senate.
• Location: United States.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The US Senate confirmed Kevin Warsh to a 14-year term on the Federal Reserve’s Board of Governors through a 51-45 vote.
• Objectives: The appointment is expected to influence US monetary policy leadership amid inflation concerns and political pressure on the Federal Reserve.

Important Terms Explained:

• Federal Reserve: It is the central bank of the United States and is responsible for monetary policy, interest rates, inflation control, and financial stability.
• Board of Governors: It is the seven-member governing body of the Federal Reserve that helps shape US monetary and regulatory policy.
• Federal Reserve Chair: It is the head of the Federal Reserve Board and one of the most influential monetary policy leaders globally.
• Monetary Policy: It refers to central bank actions related to interest rates, money supply, inflation management, and economic stability.
• Emerging Market Capital Flows: These are movements of investment funds into or out of developing economies, often influenced by US interest rates and dollar strength.

Tabular Summary:

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Schemes – Daily Current Affairs May 13

14. What is the total size of the Bharat Maritime Insurance Pool launched by India?
A) $1 billion
B) $1.2 billion
C) $1.5 billion
D) $1.8 billion
E) $2 billion
Answer: C) $1.5 billion.

Event and Location:

• Event: India launched the Bharat Maritime Insurance Pool to strengthen the shipping and trade ecosystem.
• Location: India.
• Date: May 13, 2026.

Mandates and Objectives:

• Mandates: The Bharat Maritime Insurance Pool will provide insurance coverage for vessels and maritime assets operating to and from India globally.
• Objectives: The initiative aims to reduce dependence on foreign insurers, lower coverage disruption risks, and ensure uninterrupted maritime insurance support.

Important Terms Explained:

• Maritime Insurance Pool: It is a shared insurance mechanism created to provide financial protection for vessels, cargo, and maritime assets against risks.
• Sovereign Guarantee: It is a guarantee provided by the government to support financial obligations or commitments under a scheme or initiative.
• Maritime Trade: It refers to the movement of goods and services through sea routes using ships and ports.
• Foreign Insurers: These are insurance providers based outside India that offer coverage for shipping and maritime risks.

Tabular Summary:

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Over All Review

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