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34 questions · page 1 of 2
- Economy & Banking29 Apr 2026
Bulk Drug Parks under India's manufacturing policy have been announced in which three states?
- A.Maharashtra, Karnataka, Telangana
- B.Andhra Pradesh, Gujarat, Himachal Pradesh
- C.Tamil Nadu, Kerala, Goa
- D.Uttar Pradesh, Madhya Pradesh, Rajasthan
Show solution
Answer: B. Andhra Pradesh, Gujarat, Himachal Pradesh
**Three Bulk Drug Parks** have been announced in **Andhra Pradesh, Gujarat, and Himachal Pradesh**. The scheme aims to **reduce cost of bulk drug (API) manufacturing through common infrastructure** and reduce import dependence on Chinese APIs. Other states named are major pharmaceutical producers but not Bulk Drug Park hosts.
Read source story → - Economy & Banking28 Apr 2026
Which fintech firm received RBI approval for an NBFC licence in April 2026?
- A.Paytm
- B.One MobiKwik Systems — will operate through wholly-owned subsidiary MobiKwik Financial Services Private Limited (MFSPL); approval reportedly came within four months
- C.PhonePe
- D.Razorpay
Show solution
Answer: B. One MobiKwik Systems — will operate through wholly-owned subsidiary MobiKwik Financial Services Private Limited (MFSPL); approval reportedly came within four months
**One MobiKwik Systems** has received approval from the **Reserve Bank of India (RBI)** for a **Non-Banking Financial Company (NBFC) licence** — enabling it to enter regulated lending through its new wholly-owned subsidiary **MobiKwik Financial Services Private Limited (MFSPL)**. The approval reportedly came within **four months** of application. Co-founder **Upasana Taku** said the milestone strengthens MobiKwik's transition from payments-only to a full-scale financial services platform.
Read source story → - Economy & Banking28 Apr 2026
When was the Ministry of New and Renewable Energy (MNRE) established (in its current name), and what does it oversee?
- A.1992 — only solar power
- B.Renamed to MNRE in 2006 from the earlier Department of Non-conventional Energy Sources (1992); oversees solar, wind, small hydro, biomass, geothermal, ocean, hydrogen, and decentralised renewable applications
- C.2014 — only renewable equipment manufacturing
- D.2018 — only hydrogen and electric vehicles
Show solution
Answer: B. Renamed to MNRE in 2006 from the earlier Department of Non-conventional Energy Sources (1992); oversees solar, wind, small hydro, biomass, geothermal, ocean, hydrogen, and decentralised renewable applications
The **Department of Non-conventional Energy Sources** was established in **1992** and renamed to **Ministry of New and Renewable Energy (MNRE)** in **2006**. MNRE is the nodal ministry for renewable-energy development in India, overseeing **solar, wind, small hydro, biomass, geothermal, ocean, hydrogen**, and decentralised renewable applications. It implements through agencies including **IREDA, SECI, NIWE, NISE, and NIBE**.
Read source story → - Economy & Banking28 Apr 2026
What is the carbon-intensity reduction target under the Harit Nauka Guidelines?
- A.50% reduction by 2025
- B.30% reduction in carbon intensity of inland waterway-based passenger transport by 2030
- C.100% net-zero by 2030
- D.10% reduction by 2050
Show solution
Answer: B. 30% reduction in carbon intensity of inland waterway-based passenger transport by 2030
The **Harit Nauka Inland Vessels Green Transition Guidelines** target a **30% reduction in carbon intensity** of inland waterway-based passenger transport by **2030**. The guidelines promote **LNG and electric inland vessels** as part of India's broader maritime decarbonisation push, complementing initiatives like the Coastal Cargo Promotion Scheme and Jalvahak Cargo Promotion Scheme.
Read source story → - Economy & Banking28 Apr 2026
When was NITI Aayog established, and what did it replace?
- A.1 January 2015; replaced the Planning Commission
- B.15 August 2014; replaced the Finance Ministry
- C.26 January 2017; replaced the Cabinet Secretariat
- D.1 July 2017; replaced the Finance Commission
Show solution
Answer: A. 1 January 2015; replaced the Planning Commission
**NITI Aayog (National Institution for Transforming India)** was established on **1 January 2015**, replacing the **Planning Commission** which had operated since 1950. NITI Aayog functions as the policy think tank of the Government of India, with the **PM as Chairperson** and **Suman K. Bery as Vice-Chairperson** (as of 2026).
Read source story → - Economy & Banking28 Apr 2026
Which NW carries the Jal Marg Vikas Project, and what is its corridor?
- A.NW-2 along the Brahmaputra (Sadiya-Dhubri, 891 km)
- B.NW-1 along the Ganga–Bhagirathi–Hooghly (Prayagraj-Haldia, 1,620 km), World Bank-supported
- C.NW-3 along the West Coast Canal (Kerala)
- D.NW-5 along the Brahmani-Mahanadi delta (Odisha)
Show solution
Answer: B. NW-1 along the Ganga–Bhagirathi–Hooghly (Prayagraj-Haldia, 1,620 km), World Bank-supported
The **Jal Marg Vikas Project (JMVP)** runs along **NW-1 — Ganga–Bhagirathi–Hooghly**, on the **Varanasi-Haldia stretch** (1,390 km of the total 1,620 km). It is a **World Bank-supported** project that aims to make NW-1 navigable for large vessels (1,500-2,000 DWT) and has built multi-modal terminals at **Varanasi, Sahibganj, and Haldia**, plus a new River Information System.
Read source story → - Economy & Banking28 Apr 2026
How many National Waterways has India declared, and under which Act?
- A.50 NWs under the IWAI Act 1985
- B.111 NWs totaling 20,187 km under the National Waterways Act 2016
- C.200 NWs under the Sagarmala Act 2015
- D.25 NWs under the Maritime Act 2020
Show solution
Answer: B. 111 NWs totaling 20,187 km under the National Waterways Act 2016
India has declared **111 National Waterways** totaling **20,187 km** under the **National Waterways Act, 2016**. As of **March 2026**, **32 of these NWs are operational**. The **Union Budget 2026-27** announced the operationalisation of **20 new NWs over the next 5 years**. The earlier **IWAI Act 1985** established the Inland Waterways Authority of India as the apex body.
Read source story → - Economy & Banking28 Apr 2026
When was UPI launched and by which entity?
- A.2010 by RBI
- B.April 2016 by NPCI (National Payments Corporation of India)
- C.2018 by SBI
- D.2014 by Ministry of Finance
Show solution
Answer: B. April 2016 by NPCI (National Payments Corporation of India)
**Unified Payments Interface (UPI)** was launched in **April 2016** by the **National Payments Corporation of India (NPCI)**. It is a real-time payments system that has become foundational to India's DPI stack. UPI processes over 18 billion transactions/month as of FY24-25, with 600+ banks participating.
Read source story → - Economy & Banking27 Apr 2026
Which state currently leads India in mushroom production with around 45,000 tonnes annually — the benchmark Andhra Pradesh aims to overtake?
- A.Maharashtra
- B.Bihar
- C.Punjab
- D.Uttarakhand
Show solution
Answer: B. Bihar
**Bihar** is currently India's top mushroom-producing state with about **45,000 tonnes** of annual production, achieved through the **Bihar Mushroom Mission**. Other significant producers include Odisha, Maharashtra, Punjab, Haryana, and Uttarakhand. AP's mission aims to overtake Bihar with a target of 67,500 tonnes.
Read source story → - Economy & Banking27 Apr 2026
What was DMRC's total revenue in FY2024-25, and how was it split between farebox and non-fare sources?
- A.₹5,000 cr; ₹4,000 cr farebox + ₹1,000 cr non-fare
- B.₹8,151 cr; ₹3,946 cr farebox + ₹4,205 cr non-fare
- C.₹15,000 cr; ₹10,000 cr farebox + ₹5,000 cr non-fare
- D.₹3,000 cr; ₹2,500 cr farebox + ₹500 cr non-fare
Show solution
Answer: B. ₹8,151 cr; ₹3,946 cr farebox + ₹4,205 cr non-fare
DMRC's total revenue in **FY2024-25** was **₹8,151 crore** — comprising **₹3,946 crore from farebox collections** and **₹4,205 crore from non-fare sources** (advertising, leasing, consultancy, property development). Non-fare revenue exceeding farebox is a distinctive feature of DMRC's financially sustainable model — and the template DMIL is expected to replicate internationally.
Read source story → - Economy & Banking27 Apr 2026
What is the ownership structure of Delhi Metro Rail Corporation (DMRC)?
- A.100% Government of India
- B.50:50 joint venture between Government of India and Government of NCT of Delhi
- C.70% private, 30% public
- D.Listed entity under SEBI
Show solution
Answer: B. 50:50 joint venture between Government of India and Government of NCT of Delhi
**DMRC** is a **50:50 joint venture** between the **Government of India** and the **Government of NCT of Delhi**, incorporated under the Companies Act in **May 1995**. It is not a listed entity. **E. Sreedharan** was the founding Managing Director, who delivered the first phase of Delhi Metro in 2002.
Read source story → - Economy & Banking27 Apr 2026
The India-New Zealand FTA was signed by which two ministers, and what is its bilateral-trade target?
- A.S. Jaishankar and Winston Peters; USD 10 billion in 3 years
- B.Piyush Goyal and Todd McClay; USD 5 billion in 5 years (doubling)
- C.Nirmala Sitharaman and Nicola Willis; USD 8 billion in 4 years
- D.Anurag Thakur and Chris Bishop; USD 2 billion in 2 years
Show solution
Answer: B. Piyush Goyal and Todd McClay; USD 5 billion in 5 years (doubling)
The FTA was signed by India's Commerce and Industry Minister **Piyush Goyal** and New Zealand's Trade Minister **Todd McClay**. It aims to **double bilateral trade to USD 5 billion** over the next 5 years. NZ Prime Minister Christopher Luxon called it a 'once-in-a-generation' agreement.
Read source story → - Economy & Banking27 Apr 2026
Which 4-country bloc signed the India-EFTA TEPA in March 2024?
- A.UK, France, Germany, Spain
- B.Switzerland, Norway, Iceland, Liechtenstein
- C.Sweden, Finland, Denmark, Estonia
- D.Belgium, Netherlands, Luxembourg, Austria
Show solution
Answer: B. Switzerland, Norway, Iceland, Liechtenstein
**EFTA — European Free Trade Association** comprises **Switzerland, Norway, Iceland, and Liechtenstein**. The **India-EFTA Trade and Economic Partnership Agreement (TEPA)** was signed on **10 March 2024** in New Delhi, including a USD 100 billion investment commitment from EFTA over 15 years.
Read source story → - Economy & Banking27 Apr 2026
How does the Fund of Funds for Startups deploy capital to Indian startups?
- A.Direct equity investment by SIDBI in startups
- B.Through SEBI-registered Alternative Investment Funds (AIFs) that invest in startups
- C.Through scheduled commercial banks under priority-sector lending
- D.Through NABARD's rural-development refinance window
Show solution
Answer: B. Through SEBI-registered Alternative Investment Funds (AIFs) that invest in startups
SIFoF operates as a 'fund of funds' — it does not invest directly in startups. Instead, it invests in SEBI-registered Alternative Investment Funds (primarily Category I and Category II AIFs), which in turn invest in DPIIT-recognised startups. This routes public capital through regulated private intermediaries, leveraging private capital alongside the public corpus.
Read source story → - Economy & Banking27 Apr 2026
When was National Space Day declared in India, and which mission's success does it commemorate?
- A.12 March, commemorating Mangalyaan 2014
- B.23 August, commemorating Chandrayaan-3 lunar south-pole landing in 2023
- C.15 August, commemorating ISRO formation in 1969
- D.5 November, commemorating Aryabhata 1975
Show solution
Answer: B. 23 August, commemorating Chandrayaan-3 lunar south-pole landing in 2023
National Space Day is observed on 23 August. It was declared by the Government of India in 2023 to commemorate Chandrayaan-3's successful soft landing on the lunar south pole at Shiv Shakti Point on 23 August 2023 — the first soft landing in that region globally. Aditya-L1, India's first solar observatory at the Sun-Earth L1 Lagrangian point, was launched in September 2023.
Read source story → - Economy & Banking27 Apr 2026
Which agency — established in 2019 — is the tri-service organisation coordinating India's military space activities?
- A.Defence Research and Development Organisation (DRDO)
- B.Defence Space Agency (DSA)
- C.Indian Space Research Organisation (ISRO)
- D.IN-SPACe
Show solution
Answer: B. Defence Space Agency (DSA)
Defence Space Agency (DSA) is the tri-service organisation established in 2019 with HQ in Bengaluru to coordinate India's military space activities. It is supported by Defence Space Research Organisation (DSRO). Mission Shakti — India's anti-satellite (ASAT) test in March 2019 — demonstrated kinetic ASAT capability, making India the fourth country to have it after USA, Russia, and China.
Read source story → - Economy & Banking27 Apr 2026
Which startup launched India's first privately-built rocket — Vikram-S — under Mission Prarambh in 2022?
- A.Agnikul Cosmos
- B.Skyroot Aerospace
- C.Pixxel
- D.Bellatrix Aerospace
Show solution
Answer: B. Skyroot Aerospace
Skyroot Aerospace, a Hyderabad-based private space-tech startup founded in 2018, launched Vikram-S under Mission Prarambh on 18 November 2022 from Satish Dhawan Space Centre (SDSC SHAR) Sriharikota. Vikram-S was India's first privately-built rocket and a single-stage solid-fuelled sub-orbital rocket named after Dr. Vikram Sarabhai. Agnikul Cosmos (Chennai-based) launched Agnibaan SOrTeD in May 2024.
Read source story → - Economy & Banking27 Apr 2026
Farmer Producer Organisations (FPOs) in India can be registered under which legal frameworks?
- A.Only Companies Act 2013
- B.Only Co-operative Societies Act
- C.Either Companies Act 2013 (Producer Company provisions) or State Co-operative Societies Act
- D.Only Societies Registration Act 1860
Show solution
Answer: C. Either Companies Act 2013 (Producer Company provisions) or State Co-operative Societies Act
FPOs can be registered either under the Companies Act 2013 (specifically Part IXA / Sections 581A-581ZT covering Producer Companies — provisions originally inserted in Companies Act 1956 by 2002 Amendment based on Y.K. Alagh Committee recommendations) OR under the Co-operative Societies Act of the concerned state. They can also take other legal forms providing for sharing of profits/benefits among members.
Read source story → - Economy & Banking27 Apr 2026
The term 'Orange Economy' — referring to an economic model powered by creativity, cultural expression, and intellectual property — was popularised in which country and continent?
- A.South Korea, Asia
- B.Colombia, Latin America
- C.France, Europe
- D.Australia, Oceania
Show solution
Answer: B. Colombia, Latin America
The term 'Orange Economy' was popularised in COLOMBIA (LATIN AMERICA) — Felipe Buitrago Restrepo and Iván Duque Márquez (later President of Colombia) authored the influential 2013 book 'The Orange Economy: An Infinite Opportunity'. The colour orange symbolises creativity. The Orange Economy spans design, film, animation, VFX, gaming, fashion, digital media, and immersive storytelling.
Read source story → - Economy & Banking25 Apr 2026
Rajasthan's oil and gas reserves are concentrated in which basin?
- A.Cambay basin
- B.Krishna-Godavari basin
- C.Barmer-Sanchore basin
- D.Cauvery basin
Show solution
Answer: C. Barmer-Sanchore basin
Rajasthan's oil and gas reserves are concentrated in the Barmer-Sanchore basin in western Rajasthan (Barmer and Jalore districts). It is one of India's largest inland hydrocarbon discoveries (made in the 2000s), with approximately 38 discovered oil fields and ~150 million barrels of proven crude oil reserves. Cambay basin is in Gujarat; Krishna-Godavari basin is offshore Andhra Pradesh; Cauvery basin is in Tamil Nadu.
Read source story → - Economy & Banking25 Apr 2026
India's largest onshore oil field — part of the MBA cluster in the Barmer-Sanchore basin — is:
- A.Bhagyam
- B.Aishwariya
- C.Mangala
- D.Saraswati
Show solution
Answer: C. Mangala
Mangala is India's largest onshore oil field, part of the Mangala-Bhagyam-Aishwariya (MBA) cluster in the Barmer-Sanchore basin of Rajasthan. Peak production reached around 200,000 barrels per day. Bhagyam and Aishwariya are major supporting fields in the same cluster.
Read source story → - Economy & Banking25 Apr 2026
Reserve Bank of India (RBI) typically uses forex reserves for which of the following purposes? (Select the most comprehensive answer)
- A.Only managing rupee volatility
- B.Only servicing external debt
- C.Only ensuring import cover
- D.Managing rupee volatility, ensuring import cover, servicing external debt, supporting investor confidence, and buffering external shocks
Show solution
Answer: D. Managing rupee volatility, ensuring import cover, servicing external debt, supporting investor confidence, and buffering external shocks
RBI uses forex reserves for multiple purposes: (1) managing rupee volatility through dollar sales/purchases; (2) ensuring adequate import cover (3-6 months minimum, India typically 10-12 months); (3) servicing external debt obligations; (4) supporting investor confidence and sovereign credit ratings; (5) buffering against capital-flow reversals and external shocks. All of these together make forex reserves a comprehensive macro-stability tool.
Read source story → - Economy & Banking25 Apr 2026
FASTag and NCMC services — both of which were prohibited for PPBL in January 2024 — are operated by:
- A.RBI directly
- B.Ministry of Finance
- C.National Payments Corporation of India (NPCI)
- D.Securities and Exchange Board of India (SEBI)
Show solution
Answer: C. National Payments Corporation of India (NPCI)
FASTag (electronic toll collection on national highways under the National Electronic Toll Collection or NETC framework) and NCMC ('One Nation One Card' launched March 2019) are both operated by the National Payments Corporation of India (NPCI). NPCI is the umbrella organisation for retail payments, established in 2008 as a Section 8 not-for-profit company.
Read source story → - Economy & Banking25 Apr 2026
Special Drawing Rights (SDRs) — one component of India's forex reserves — were created by which institution and in which year?
- A.World Bank, 1944
- B.International Monetary Fund (IMF), 1969
- C.Bank for International Settlements (BIS), 1973
- D.World Trade Organisation, 1995
Show solution
Answer: B. International Monetary Fund (IMF), 1969
Special Drawing Rights (SDRs) were created by the International Monetary Fund (IMF) in 1969 as a supplementary international reserve asset. SDR value is determined daily based on a basket of five major currencies — US dollar, euro, Chinese renminbi, Japanese yen, and British pound. India received around $17.86 billion in SDR allocation in August 2021.
Read source story → - Economy & Banking25 Apr 2026
What is the maximum deposit limit per individual customer in a payments bank in India (as raised in April 2021)?
- A.₹50,000
- B.₹1 lakh
- C.₹2 lakh
- D.₹5 lakh
Show solution
Answer: C. ₹2 lakh
The maximum deposit limit per individual customer in a payments bank was raised from ₹1 lakh to ₹2 lakh in April 2021. Payments banks cannot offer credit/loans — a key restriction that distinguishes them from commercial banks and small finance banks.
Read source story → - Economy & Banking25 Apr 2026
After cancellation of a banking licence, RBI must approach which forum for winding-up proceedings?
- A.NCLT (National Company Law Tribunal)
- B.Supreme Court of India
- C.High Court (under BR Act Section 38)
- D.Insolvency and Bankruptcy Board of India
Show solution
Answer: C. High Court (under BR Act Section 38)
Under Section 38 of the Banking Regulation Act, 1949, the RBI must approach the High Court (having jurisdiction over the bank's registered office) for winding-up proceedings of a banking company. While the Companies Act, 2013 generally vests winding-up jurisdiction with the NCLT, banking company winding-up has a specific BR Act framework that retains High Court jurisdiction.
Read source story → - Economy & Banking25 Apr 2026
The largest component of India's foreign exchange reserves is:
- A.Gold reserves
- B.Special Drawing Rights (SDRs)
- C.Reserve position in the IMF
- D.Foreign Currency Assets (FCA)
Show solution
Answer: D. Foreign Currency Assets (FCA)
Foreign Currency Assets (FCA) is the largest component of India's forex reserves — typically around 80% of total reserves. FCA includes foreign currencies, deposits with foreign central banks and the Bank for International Settlements (BIS), and foreign government securities (mainly US Treasuries). For week ended 17 April 2026, FCA stood at $557.46 billion.
Read source story → - Economy & Banking25 Apr 2026
India's Ethanol Blending Programme (EBP) targets achieving E20 (20% ethanol blending in petrol) by:
- A.2023-24
- B.2025-26
- C.2027-28
- D.2030
Show solution
Answer: B. 2025-26
India's target for E20 (20% ethanol blending) is 2025-26 — advanced from the original 2030 target. India achieved E10 (10% blending) in mid-2022, well ahead of schedule. The Programme is administered by the Ministry of Petroleum and Natural Gas through Oil Marketing Companies (IOC, BPCL, HPCL).
Read source story → - Economy & Banking25 Apr 2026
Payments Banks in India were introduced based on the recommendations of which committee?
- A.P.J. Nayak Committee
- B.Nachiket Mor Committee (2014)
- C.Bimal Jalan Committee
- D.Urjit Patel Committee
Show solution
Answer: B. Nachiket Mor Committee (2014)
Payments Banks were introduced based on the recommendations of the Nachiket Mor Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (report submitted January 2014). RBI issued payments-bank guidelines in November 2014 and granted in-principle approvals to 11 entities in August 2015.
Read source story → - Economy & Banking25 Apr 2026
India's foreign exchange reserves stood at what level for the week ended 17 April 2026?
- A.$652.31 billion
- B.$700.946 billion
- C.$703.31 billion
- D.$728.494 billion
Show solution
Answer: C. $703.31 billion
India's forex reserves rose by $2.36 billion to $703.31 billion for the week ended 17 April 2026, according to RBI data. $700.946 billion was the previous week's level (10 April), and $728.494 billion was the all-time high reached in February 2026.
Read source story →