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Subject
Month
8 questions
- 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
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
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
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 & 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
Which of the following is a key restriction on payments banks in India that distinguishes them from commercial banks?
- A.Cannot accept demand deposits
- B.Cannot offer credit/loans
- C.Cannot issue debit cards
- D.Cannot facilitate digital payments
Show solution
Answer: B. Cannot offer credit/loans
Payments banks CANNOT offer credit/loans — this is a key restriction distinguishing them from commercial banks and small finance banks. Payments banks CAN: accept demand deposits up to ₹2 lakh per customer, issue ATM/debit cards, facilitate payments and remittances, distribute non-risk-sharing financial products (mutual funds, insurance, pension).
Read source story → - Economy & Banking25 Apr 2026
For the week ended 17 April 2026, India's Foreign Currency Assets (FCA) — the largest component of forex reserves — stood at:
- A.$417.46 billion
- B.$497.46 billion
- C.$557.46 billion
- D.$617.46 billion
Show solution
Answer: C. $557.46 billion
Foreign Currency Assets (FCA) stood at $557.46 billion for the week ended 17 April 2026 — up $1.48 billion week-on-week. FCA is typically about 80% of India's total forex reserves and includes foreign currencies, deposits with foreign central banks and BIS, and foreign government securities (mainly US Treasuries).
Read source story →