The World Cities Report 2026, released by UN-Habitat at the World Urban Forum in Baku, Azerbaijan, highlights that nearly 3.4 billion people (40 percent of the global population) lack access to secure, affordable housing.
The global Price-to-Income ratio has climbed steadily from 9.3 in 2010 to 11.2 in 2023, pointing to severe housing stress; this ratio is even higher in Central and South Asia, averaging 16.8.
The report specifically analyzed housing difficulties in major Indian urban hubs, noting a sharp Price-to-Income ratio of 14.3 for Mumbai and 10.1 for New Delhi.
The share of affordable options in new housing constructions fell dramatically from 52 percent in 2018 to just 17 percent in 2025 as developers pivoted heavily toward premium and luxury properties.
Examining this trend highlights the crucial importance of structural state schemes, such as the Pradhan Mantri Awas Yojana (PMAY), which helped elevate housing coverage from 0.3 percent in 2010 to 7 percent in 2023.
Key Facts / Static GK
UN-Habitat Headquarters: Nairobi, Kenya
Baku: Capital city of Azerbaijan
PMAY: Pradhan Mantri Awas Yojana, launched in June 2015
Practice Quiz — 26 May 2026
Q1. Under the newly issued RBI device lock rules for financed devices, what is the penalty rate per hour that a lender must pay the borrower if they fail to restore phone features within one hour of clearing the outstanding dues?
Answer: (D) 250 Rupees per hour — Once a borrower clears the outstanding dues, the restricted features must be restored within 1 hour. If the lender fails to unblock the phone within this hour, they must compensate the borrower at a rate of 250 Rupees per hour until the issue is resolved.
Q2. With reference to the RBI's FY26 surplus transfer, which of the following statements is/are correct? (1) The Contingent Risk Buffer was maintained at the upper boundary of 7.5 percent of the total balance sheet. (2) The transfer of surplus profits is legally mandated under Section 47 of the RBI Act, 1934.
Answer: (B) Only 2 — Statement 1 is incorrect because the Contingent Risk Buffer was maintained at 6.5 percent (not 7.5 percent) of the balance sheet size. Statement 2 is correct because Section 47 of the RBI Act, 1934, legally defines and mandates the transfer of surplus profits to the Central Government.
Q3. What is the total financial budget allocated for the implementation of the Bharat Audyogik Vikas Yojana (BHAVYA) Scheme over its six-year operational timeline?
Answer: (C) 33,660 crore Rupees — The BHAVYA Scheme, designed to set up 100 world-class plug-and-play industrial parks across India, has been allocated a total financial outlay of 33,660 crore Rupees to be implemented over six years (2026-27 to 2031-32).
Q4. According to the World Cities Report 2026, what was the estimated homelessness rate per 10,000 people recorded for India, United States, and China respectively?
Answer: (A) India: 13, US: 20, China: 21 — The World Cities Report 2026 noted that homelessness remains a major global concern, with rates per 10,000 people standing at 13 in India, 20 in the United States, and 21 in China.
Q5. What is the exact name of the new 10 billion dollar crisis relief facility launched by the Asian Infrastructure Investment Bank (AIIB) in May 2026?
Answer: (B) Energy, Food Security and Economic Resilience Facility (EFSERF) — In May 2026, the Asian Infrastructure Investment Bank (AIIB) officially launched the 'Energy, Food Security and Economic Resilience Facility (EFSERF)' with an outlay of up to 10 billion US dollars over two years to support member nations impacted by the economic effects of conflicts in the Middle East.
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