Welcome to Daily Current Affairs for 01 May 2026. In this article, you will get the most important national and international current affairs with short explanations. Additionally, you will find exam-important one-liners and MCQs for UPSC, SSC, Banking, Railways and State government exams.
1️⃣ National Summit on Public Health Innovations Focuses on Replicable Models
Union Health Minister J.P. Nadda and Haryana Chief Minister Nayab Singh Saini inaugurated the 10th National Summit on Good and Replicable Practices and Innovations in Public Health Systems at Chandigarh. Moreover, the summit focuses on identifying scalable models in disease control, primary healthcare, digital health, and community outreach. Therefore, best practices from different states can be replicated nationally under programmes like Ayushman Bharat and National Health Mission. In addition, such platforms strengthen cooperative federalism in health governance. It is in news because India is increasingly focusing on evidence-based policy replication rather than isolated pilot schemes in public health systems.
2️⃣ Leh Hosts First International Exhibition of Buddha Relics Enhancing Cultural Diplomacy
Union Home Minister Amit Shah attended the first-ever international exposition of holy relics of Lord Buddha in Leh, Ladakh. Moreover, the exhibition brings together sacred relics preserved in different monasteries and institutions, making them accessible to global devotees and scholars. Therefore, this event strengthens India’s Buddhist cultural diplomacy, particularly with countries in East and Southeast Asia. In addition, Ladakh’s location enhances its role as a cultural and spiritual hub linking India with trans-Himalayan Buddhist traditions. It is in news because cultural diplomacy is increasingly being used to strengthen international relations alongside economic and strategic engagement.
3️⃣ India–Sri Lanka Naval Diving Exercise (IN–SLN DIVEX 2026) Strengthens Maritime Cooperation
India and Sri Lanka conducted the fourth edition of IN–SLN DIVEX 2026 in Colombo from April 21 to 28, involving INS Nireekshak and Sri Lankan Navy divers. Moreover, the exercise focused on underwater operations, salvage techniques, and diving coordination. Therefore, it enhances interoperability between the two navies in areas such as maritime rescue, disaster response, and underwater security operations. In addition, such bilateral exercises strengthen India’s maritime engagement in the Indian Ocean Region (IOR). It is in news because maritime cooperation is critical for regional stability, anti-piracy efforts, and strategic sea-lane security.
4️⃣ RBI Relaxes Regulations for Small NBFCs to Promote Ease of Doing Business
The Reserve Bank of India (RBI) has exempted non-deposit-taking NBFCs with assets below ₹1,000 crore and not using public funds from certain registration and reserve fund requirements, effective from 1 July 2026. Moreover, this move reduces compliance burden on smaller financial entities and encourages their growth. Therefore, small NBFCs can focus more on credit delivery, especially to micro and small enterprises. In addition, RBI continues to differentiate regulatory norms based on risk profile and systemic importance. It is in news because financial sector reforms increasingly aim to balance regulation with ease of doing business.
5️⃣ SEBI Launches PaRRVA to Improve Transparency in Financial Services
The Securities and Exchange Board of India (SEBI) has operationalised PaRRVA (Past Risk and Return Verification Agency), which will go live from 4 May 2026. Moreover, the system allows investors to verify historical performance data of financial service providers such as portfolio managers and investment advisors. Therefore, it enhances transparency, reduces misinformation, and supports informed decision-making in capital markets. In addition, PaRRVA strengthens investor protection by standardising disclosure practices. It is in news because India’s financial markets are rapidly expanding, and regulatory focus is shifting toward data transparency and accountability.
📝 UPSC Prelims Model Questions – 1 May 2026
1. With reference to Non-Banking Financial Companies (NBFCs), consider the following statements:
1. NBFCs can accept demand deposits like commercial banks.
2. NBFCs are regulated by the Reserve Bank of India.
3. NBFCs play a significant role in providing credit to small and unorganised sectors.
Which of the statements given above are correct?
A. 2 and 3 only
B. 1 and 2 only
C. 1 and 3 only
D. 1, 2 and 3
✅ Answer: A
Description: NBFCs cannot accept demand deposits like banks, but they are regulated by RBI and support credit access to MSMEs and informal sectors.
2. SEBI’s PaRRVA system is primarily aimed at:
A. Monitoring stock exchanges
B. Verifying past risk-return data of financial entities
C. Regulating foreign investments
D. Managing public sector bonds
✅ Answer: B
Description: PaRRVA improves transparency and investor awareness by verifying performance claims.
2. Consider the following statements regarding India–Sri Lanka naval exercises:
1. They enhance interoperability between navies.
2. They are conducted under the United Nations mandate.
3. They contribute to maritime security in the Indian Ocean Region.
Which statements are correct?
A. 1 and 2 only
B. 2 and 3 only
C. 1 and 3 only
D. 1, 2 and 3
✅ Answer: C
Description: Such exercises are bilateral, not UN-mandated, and enhance maritime cooperation.
4. Which of the following best explains “cultural diplomacy”?
A. Military alliances between countries
B. Trade agreements for goods
C. Use of cultural heritage to strengthen international relations
D. Political negotiations through treaties
✅ Answer: C
Description: Cultural diplomacy uses heritage, religion, art, and traditions to build soft power.
5. Which of the following correctly explains “replicable practices” in governance?
A. Policies implemented only once
B. Policies limited to a single region
C. Successful models that can be adopted in different regions
D. Policies applicable only to central government
✅ Answer: C
Description: Replicable practices are tested models that can be scaled across states or sectors.
FAQ – Daily Current Affairs 01 May 2026
Q1. Which exams require daily current affairs preparation?
UPSC, SSC, Banking, Railways, Defence and State PSC exams require daily current affairs preparation.
Q2. How can I revise current affairs quickly?
You should revise one-liners daily and practice MCQs regularly for better retention.
Q3. Is this current affairs useful for UPSC prelims?
Yes, it is useful for UPSC prelims as it includes national, international, economy, schemes and sports updates.
✅ Conclusion
Daily Current Affairs 01 May 2026 provides important news updates with exam-focused revision points and MCQs. Keep visiting our website daily for the latest updates and PDF notes.Images are not actual its AI generated for better informative.