Daily Current Affairs
13 May 2026 · 10 questions
Kevin Warsh is set to become the next Chair of the US Federal Reserve. Whom will he replace?
Correct Answer: B. Jerome Powell
Kevin Warsh was appointed Governor of the US Federal Reserve by the US Senate and is set to become the next Chair of America's central bank. If confirmed as Fed Chair, he will replace Jerome Powell. The Federal Reserve System (the Fed) is the central bank of the United States, established in 1913. The Fed Chair is appointed by the US President and confirmed by the Senate for a 4-year term. The Fed's HQ is in Washington, D.C.
India appointed senior IFS officer Prashant Pise as Ambassador to which country?
Correct Answer: D. Sultanate of Oman
India appointed senior diplomat Prashant Pise as Ambassador to the Sultanate of Oman. He is an Indian Foreign Service (IFS) officer currently serving as Additional Secretary in the Ministry of External Affairs (MEA). The appointment was announced by MEA. Oman is a strategic partner of India in the Gulf region, with strong trade, defence, and energy ties. Oman's capital is Muscat.
India's legendary cricketer Rahul Dravid became the owner of the Dublin franchise in which T20 league?
Correct Answer: A. European T20 Premier League (ETPL)
India's legendary cricketer Rahul Dravid became the owner of the Dublin franchise in the European T20 Premier League (ETPL). The ETPL is Europe's first ICC-sanctioned multi-country franchise T20 competition. The league will be launched this year and includes franchises from multiple European cities. Dublin is the capital of Ireland — which is a full member of the ICC. Rahul Dravid is the former captain of the Indian cricket team and was India's head coach.
R. Mukundan was appointed CII President for 2026-27. He is CEO and MD of which company?
Correct Answer: C. Tata Chemicals
R. Mukundan, CEO and Managing Director of Tata Chemicals, assumed the office of President of the Confederation of Indian Industry (CII) for 2026-27. He succeeds Rajiv Memani and brings over three decades of leadership experience from the Tata Group. CII is India's premier industry association, established in 1895. It plays a key role in policy advocacy and industry-government dialogue. CII is headquartered in New Delhi.
India sharply increased the import duty on gold and silver to what percentage?
Correct Answer: B. 15%
The Government of India sharply increased the import duty on gold and silver to 15%. The move aims to protect the country's foreign exchange reserves and reduce pressure on the weakening Indian Rupee. Rising West Asia tensions, higher crude oil prices, and global economic uncertainties have increased India's import bill. India is the world's second-largest gold consumer after China. Higher duty discourages imports and boosts domestic gold recycling.
India's Public Sector Banks (PSBs) achieved a combined net profit of how much in FY 2025-26 — their 4th consecutive year of profitability?
Correct Answer: D. ₹1.98 lakh crore
India's Public Sector Banks (PSBs) achieved their strongest financial performance ever, reporting a combined net profit of ₹1.98 lakh crore in FY 2025-26, as announced by the Union Finance Ministry. This marks the 4th consecutive year of profitability for PSBs and showcases the strong growth and asset quality improvement of Indian Public Sector Banks. SBI is India's largest PSB, headquartered in Mumbai.
India launched the Bharat Maritime Insurance (BMI) Pool with what funding to strengthen its shipping sector?
Correct Answer: A. $1.5 billion
India launched the $1.5 billion Bharat Maritime Insurance Pool (BMI Pool) to strengthen India's shipping and trade ecosystem. The initiative aims to reduce dependence on foreign insurers and ensure uninterrupted insurance coverage for Indian-flagged vessels. The BMI Pool was earlier approved by the Union Cabinet (April 18, 2026) with a sovereign guarantee corpus of ₹12,980 crore. The move strengthens India's maritime self-reliance and protects Indian shipping from global market fluctuations.
Prateek Yadav, who passed away at age 38 in Lucknow, was the son of which prominent political figure?
Correct Answer: C. Mulayam Singh Yadav
Prateek Yadav, the younger son of late Samajwadi Party founder Mulayam Singh Yadav, passed away in Lucknow on May 13, 2026, at the age of 38. His death shocked political circles across Uttar Pradesh. Prateek largely stayed away from active politics — unlike his elder half-brother Akhilesh Yadav, who has served as UP Chief Minister and is currently the SP national president. Mulayam Singh Yadav founded the Samajwadi Party in 1992.
R. Mukundan succeeded which outgoing CII President for the 2026-27 term?
Correct Answer: B. Rajiv Memani
R. Mukundan succeeded Rajiv Memani as the President of the Confederation of Indian Industry (CII) for 2026-27. Rajiv Memani is the Chairman of EY India. CII Presidents are elected each year. The President leads the CII for one year and is supported by Vice-Presidents and Director-Generals. CII represents over 9,000 member organisations from public and private sectors including SMEs and MNCs.
The European T20 Premier League (ETPL) — in which Rahul Dravid owns the Dublin franchise — is Europe's first what?
Correct Answer: D. ICC-sanctioned multi-country franchise T20 competition
The European T20 Premier League (ETPL) is Europe's first ICC-sanctioned multi-country franchise T20 competition. It will include franchises from multiple European cities — Dublin being one, owned by Rahul Dravid. The launch of ETPL marks a major milestone in spreading cricket to non-traditional markets and following the success of franchise T20 leagues like the IPL (India), BBL (Australia), PSL (Pakistan), and CPL (Caribbean).