Banking & Insurance

Bank Current Affairs 2026

Conducted by IBPS and SBI

Daily current affairs for bank PO, clerk and RRB exams. RBI, banking, economy and government scheme news, sorted for the exam.

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IBPS PO
IBPS Clerk
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RBI Assistant
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LIC AAO
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NIACL AO

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Latest stories for Bank

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EconomyUPSCSSCBank

DPIIT's Trust-Based Governance: Startup India Recognizes 2.5 Lakh Startups, Creates 25 Lakh Jobs; FDI at $843 Billion Over 12 Years

The Department for Promotion of Industry and Internal Trade (DPIIT) has spearheaded a comprehensive shift from a permission-based to a trust-based regulatory framework, focusing on startup ecosystem support, regulatory simplification, and digital governance. Key outcomes include recognition of over 2.5 lakh startups generating 25.42 lakh jobs, a cumulative FDI inflow of USD 843 billion over 12 years, and the reduction of 47,957 compliances. The National Single Window System (NSWS) is central to this digital transformation.

27 October 2026, PIB

2
Capital Gains Tax Review: Government Seeks Views on LTCG Removal for Equities, Generates ₹1.29 Lakh Crore Revenue
UPSCSSCBank
27 October 2026
3
FAST-DS Scheme: 30% Tax and Penalty on Undisclosed Foreign Assets up to ₹1 Crore, Disclosure Window till Dec 31, 2026
UPSCBank
26 October 2026
4
Budget 2027-28 May Cut Long-Term Capital Gains Tax from 12.5%, Proposes Dollar-Based Taxation for Foreign Investors
UPSCBank
26 October 2026

Bank quiz

Questions from recent Bank stories. One attempt per question.

Q1
Under which ministry does the Department for Promotion of Industry and Internal Trade (DPIIT) function?
Explanation: As per the article, DPIIT is a department under the Ministry of Commerce & Industry. It is the nodal agency for promoting industrial growth and internal trade in India.
Q2
Which ministry/department is responsible for the policy regarding Long-Term Capital Gains (LTCG) tax on equities?
Explanation: Taxation policies, including direct taxes like Capital Gains Tax, fall under the domain of the Ministry of Finance, specifically its Department of Revenue. SEBI regulates market participants, and RBI handles monetary policy.
Q3
Which ministry/department is primarily responsible for formulating policies related to capital gains tax in India?
Explanation: Taxation policy, including direct taxes like capital gains tax, falls under the purview of the Ministry of Finance (Department of Revenue). SEBI regulates the securities market, and RBI handles monetary policy, but tax policy is a fiscal matter for the Finance Ministry.
Q4
The FAST-DS scheme, aimed at disclosure of foreign assets, is implemented by which government department?
Explanation: The article explicitly states that the Income Tax Department is implementing the Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS) and is using AEOI data to nudge taxpayers.
Q5
Consider the following statements regarding reforms mentioned in the DPIIT report:
1. 1.The Credit Guarantee Scheme for Startups has doubled the guarantee cover per borrower from ₹10 crore to ₹20 crore.
2. 2.The Jan Vishwas Act of 2023 decriminalized 717 provisions across 79 Central Acts.
3. 3.The threshold for prior permission for lay-off or closure under labour laws has been raised from 100 to 500 workers.
Which of the statements given above is/are correct?
Explanation: Statement 1 is correct as per the article. Statement 2 is incorrect: The Jan Vishwas Act decriminalized 183 provisions in 2023 and 717 provisions in 2026, but the statement incorrectly attributes the 2026 number to the 2023 Act. Statement 3 is incorrect: The threshold was raised from 100 to 300 workers, not 500.
Q6
Consider the following statements regarding the Long-Term Capital Gains (LTCG) tax in India:
1. 1.The LTCG tax on equities was completely abolished in the Union Budget of 2004-05.
2. 2.Currently, the LTCG tax rate is 10% on gains from equity shares held for more than 12 months.
3. 3.The Securities Transaction Tax (STT) was introduced as a replacement when LTCG was abolished in 2004.
Which of the statements given above is/are correct?
Explanation: Statement 1 is correct: LTCG on equities was abolished by Finance Minister P. Chidambaram in 2004. Statement 2 is incorrect: The current LTCG rate is 12.5%, not 10%. Statement 3 is correct: STT was introduced in 2004 when LTCG was abolished. Hence, option C is correct.
Q7
Consider the following statements regarding the capital gains tax reforms discussed in the news:
1. 1.The government is considering reducing the long-term capital gains tax rate from its current level of 15%.
2. 2.A proposal to tax Foreign Portfolio Investors on their dollar-denominated gains instead of rupee gains is under discussion.
3. 3.The State Bank of India, in its Ecowrap report, suggested extending the holding period for equity to 2-3 years and abolishing the LTCG tax.
Which of the statements given above is/are correct?
Explanation: Statement 1 is incorrect because the current LTCG tax rate is 12.5%, not 15%. Statement 2 is correct as the article mentions the proposal to tax FPIs on dollar gains. Statement 3 is correct as the SBI Ecowrap report suggested extending the holding period and abolishing LTCG tax for equity.
Q8
Consider the following statements regarding the FAST-DS scheme:
1. 1.It provides immunity from prosecution under the Black Money Act, 2015 upon valid declaration.
2. 2.The scheme applies only to undisclosed foreign assets located within the United Arab Emirates.
3. 3.The deadline for making disclosures under this scheme is December 31, 2026.
Which of the statements given above is/are correct?
Explanation: Statement 1 is correct as per the article: 'a valid declaration brings immunity from further assessment, penalty and prosecution under the Black Money Act'. Statement 2 is incorrect; while the article mentions UAE property owners as an example, the scheme is not limited to UAE assets. Statement 3 is correct as the article states disclosures can be made till December 31.
Q9
According to the DPIIT report, what is the cumulative Foreign Direct Investment (FDI) inflow into India during the period FY 2014-15 to FY 2025-26?
Explanation: The article explicitly states that India received USD 843 billion in FDI during FY 2014-15 to FY 2025-26. USD 313 billion was the inflow in the preceding twelve years, making it a close distractor.
Q10
According to the news article, how much revenue did the government earn from Long-Term Capital Gains (LTCG) tax in the previous year?
Explanation: The article explicitly states that the government earned nearly ₹1.29 lakh crore from LTCG tax on shares in the previous year. ₹3 lakh crore is the amount sold by FPIs, making it a close distractor.

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