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Table of Contents

General Awareness Questions [March 2025] .............................................................................................................. 3

General Awareness Questions: Answer Keys [March 2025] ............................................................................... 39

General Awareness Questions: Solutions [March 2025]....................................................................................... 40

Static Banking/Finance Quick Bites ............................................................................................................................ 117

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General Awareness Questions [March 2025]

1. The RBI has imposed a penalty of Rs 66.6 lakh

on which among the following for non-compliance 5. Markets regulator Sebi has allowed all non-
with certain directions including those related to banking financial companies (NBFC), including
'Know Your Customer' and 'Interest Rates on housing finance companies, to invest in security
Deposits', on February 28, 2025? receipts issued by ___________ aimed at
a. Hongkong and Shanghai Banking Corporation encouraging investments in the bad loans space, in
Limited March 2025.
b. IIFL Samasta Finance Limited a. Reliance Asset Company Limited
c. The Business Co-operative Bank Ltd. Nashik, b. ARC Resolution & Investment Guidelines
Maharashtra c. Asset Reconstruction Companies (ARCs)
d. Guntur District Co-Operative Central Bank Ltd. d. Structured Credit & Recovery Policy
e. None of these e. Distressed Asset Securitization Framework

2. The Reserve Bank of India (RBI) on 1 ,March said 6. In March 2025, The Reserve Bank has decided to
98.18 per cent of the Rs. 2000 banknotes in conduct the OMO purchase auctions of Government
circulation as on May 19, 2023, have been returned of India securities for an aggregate amount of Rs.
till February 28, 2025. The total value of Rs. 2000 1,00,000 crore in how many tranches to inject
banknotes in circulation, which was Rs. 3.56 lakh liquidity into the banking system?
crore at the close of business on May 19, 2023, a. Three
when the withdrawal of Rs. 2000 banknotes was b. Four
announced, has declined to _________________. c. Six
a. Rs. 5,683 crore d. Two
b. Rs. 4,934 crore e. Ten
c. Rs. 6,471 crore
d. Rs. 7,541 crore 7. Which of the following banks was penalized by
e. Rs. 3,078 crore the Reserve Bank of India for non-compliance with
Know Your Customer (KYC) regulations, following a
3. The Reserve Bank of Indias (RBIs) $10 billion US statutory inspection conducted by NABARD based
dollar-rupee buy-sell swap auction for how many on its financial position as of March 31, 2024, in
years received bids worth $16.23 billion, reflecting March 2025?
robust demand amid persistent liquidity deficit in a. Bihar State Co-operative Bank
the banking system? b. Magadh Central Co-operative Bank
a. 3 Years c. Jharkhand Gramin Bank
b. 5 years d. Vaishali District Central Co-operative Bank
c. 2 years e. Samastipur Urban Co-operative Bank
d. 1 years
e. 4 years 8. Union Finance and Corporate Affairs Minister
Nirmala Sitharaman, along with Minister of State for
4. The Securities and Exchange Board of India Finance Pankaj Chaudhary, has officially launched a
(SEBI) has introduced stricter Key Performance new Credit Assessment Model for Micro, Small, and
Indicator (KPI) disclosure norms for companies Medium Enterprises (MSMEs) in March 2025.
launching Initial Public Offers (IPOs). Which of the Identify the Correct Key Feature(s) of the Model. I.
following statements is/are correct? I. The audit Fraud Detection and Risk Assessment through
committee must approve KPIs before they are Hunter checks and CICs. II. GST Data Retrieval via
included in the IPO offer document. II. SEBIs new API-based service providers. III. No Need of ITR
norms mandate companies to disclose operational Upload and Verification.
measures that provide insights into valuation and a. II only
business models. III. Effective April 1, investment b. I and II only
bankers and issuer companies must comply with c. II and III only
these standards. d. I and III only
a. I and II only e. I, II, and III
b. II and III only
c. III only 9. In March 2025, HDFC Bank has launched Project
d. I and III only HAKK to provide support and services to Indian Air
e. I, II, and III Force (IAF) pensioners, veterans and their families

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and signed a MoU with the IAF acting through the 14. In March 2025, Finance Ministry has notified
office of the Assistant Chief of Air Staff Accounts & Zero Coupon Bond (ZCB) for Power Finance
Air Veterans and CSC Academy. Identify the 'A' in Corporation, an instrument that doesnt pay interest
HAKK. during its term, but instead is sold at a discount to
a. Assistance its face value. Which of the following statements
b. Anubhavi are/is correct regarding this? I. The company can
c. Arial raise up to Rs. 100 crore. II. These bonds will have
d. Asaan the maturity value of 121 months or 10 years and
e. Airlift one month. III. According to the notification, the
bond will be issued with a discount of Rs. 49,546 for
10. State Bank of India (SBI) launched a dedicated a face value of Rs. 1 lakh.
collateral-free loan scheme for women a. I and II only
entrepreneurs, named "__________________," b. II and III only
aimed at providing low-interest rate funding options c. I and III only
to support women-led MSMEs in March 2025. d. II only
a. Udyogini e. I, II, and III
b. Asmita
c. Mahila Samridhi Yojana 15. Which leading Indian financial institution is
d. Shakti Loan Scheme launching a specialized Center of Excellence for
e. Stree Shakti Package Project Financing to cater to the growing funding
needs of emerging sectors like artificial intelligence
11. Which Indian public sector bank became the (AI), fintech, and e-commerce, along with
first to introduce a specialized savings account for renewable energy and infrastructure modernization,
women NRIs, offering concessional loan rates, fee in March 2025?
waivers on locker rent, free personal and air a. Export-Import Bank of India
accident insurance, and a customized debit card b. State Bank of India
with complimentary airport lounge access, in March c. Small Industries Development Bank of India
2025? d. National Bank for Agriculture and Rural
a. State Bank of India Development
b. Punjab National Bank e. Industrial Finance Corporation of India
c. Bank of Baroda
d. Canara Bank 16. Which of the following financial companies
e. Union Bank of India rebranded seven existing branches into all women
staffed 'Shakti' branches, aimed at empowering
12. Which of the following initiatives, launched by women through financial literacy and skill
the Reserve Bank Innovation Hub (RBIH) during the development programs on the occasion of Women's
Building for Billions event in Bengaluru, aims to Day, in March 2025?
drive financial innovation through Human-Centered a. Bajaj Finserv
Design (HCD), in March 2025? b. Muthoot Finance
a. FinTech Catalyst c. IIFL Finance
b. DesignShaala d. Mahindra Finance
c. Bharat Digital Lab e. Tata Capital
d. Financial Inclusion Hub
e. SmartPay Solutions 17. In March 2025, which among the following bank
has announced the launch of its Goods and Services
13. Which financial institution introduced Tax (GST) Payment facility, strengthening its digital
'SWALAKSH,' a specialized education loan designed banking offers?
exclusively for female students aspiring to study a. Canara Bank
abroad, offering benefits such as a 0.25% interest b. Bank of Baroda
rate concession, merit-based rewards, and an EMI c. Yes Bank
waiver, in March 2025? d. Punjab & Sind Bank
a. HDFC Credila e. IndusInd Bank
b. Avanse Financial
c. ICICI Bank 18. Continuing its leadership in the gold loan sector,
d. Axis Finance Muthoot Finance has surpassed
e. Tata Capital _____________________ in gold loan AUM as of
March 14, 2025?

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a. Rs. 0.5 lakh crore 23. As per the recent data released by RBI, in,
b. Rs. 1 lakh crore March 2025, To maintain surplus liquidity and
c. Rs. 2 lakh crore support the transmission of rate cut benefits, the
d. Rs. 1.5 lakh crore Reserve Bank of India (RBI) infused ___________
e. Rs. 3 lakh crore into the banking system through bond purchases,
forex swaps, and repo operations since mid-
19. In March 2025, Infibeam Avenues Ltd's flagship January.
payment gateway brand, CCAvenue, has partnered a. Rs. 2 Lakh Crore
with which cooperative bank to help bolster the b. Rs. 1 Lakh Crore
bank's net banking facility? c. Rs. 3 Lakh Crore
a. Cosmos Cooperative Bank d. Rs. 5 Lakh Crore
b. Bharat Cooperative Bank e. Rs. 4 Lakh Crore
c. Janata Cooperative Bank
d. Sutex Cooperative Bank 24. Capital markets regulator Sebi announced it has
e. Kalupur Cooperative Bank reduced the minimum investment amount for Zero
Coupon Zero Principal (ZCZP) instruments on the
20. Which of the following NBFC-MFIs announced an Social Stock Exchange from Rs 10,000 to
ambitious goal to empower 10 million households ___________, in March 2025.
by 2030, with a focus on supporting women-led a. Rs 5,000
enterprises and expanding its geographical footprint b. Rs 100
to promote financial inclusion, in March 2025? c. Rs 1,000
a. Fusion Microfinance d. Rs 2,000
b. SATYA MicroCapital e. Rs 9,000
c. CreditAccess Grameen
d. Svatantra Microfin 25. Which feature was launched by IDFC FIRST
e. Belstar Microfinance Bank on its mobile banking app, enabling customers
to explore and invest in over 2,500 mutual funds
21. Which of the following banks became the first in through a do-it-yourself approach, in March 2025?
India to introduce an Online Digital Balance a. Ace
Confirmation Certificate through the PSB Alliance b. Elite
Pvt. Ltd portal, streamlining the auditing process, in c. Prime
March 2025? d. Smart Invest
a. Canara Bank e. Max
b. Indian Bank
c. Central Bank of India 26. Which specialized fixed deposit scheme,
d. Bank of Maharashtra launched by HDFC Bank, is exclusively available for
e. UCO Bank diplomats, non-diplomatic staff, and diplomatic
missions, offering foreign currency term deposits
22. The Government has been constantly engaging denominated only in USD, with a minimum deposit
with the financial sector regulators and other requirement of USD 5,000, in March 2025?
concerned stakeholders to strengthen the cyber a. Global Investor Fixed Deposit
security and Various measures have been taken by b. Diplomatic Reserve Fixed Deposit
the government to strengthen cyber security in the c. Foreign Delegate Term Deposit
financial sector as per news in March 2025. Which d. International Envoy Deposit
of the following statements are/is INCORRECT e. Embassy Fixed Deposit
regarding this? I. The Indian Cyber Crime
Coordination Centre (I4C) was launched by the 27. Which banks were penalized by the Reserve
Reserve Bank of India (RBI). II. RBI issued Master Bank of India (RBI) for regulatory non-compliance,
Directions on Digital Payment Security Controls in with fines of Rs 36.28 lakh and Rs 36.30 lakh,
2021. III. NPCI has introduced AI-based fraud respectively, related to Liberalised Remittance
monitoring solutions to prevent cyber fraud. Scheme (LRS) reporting and due diligence on
a. I only inward remittances, in March 2025?
b. II only a. HDFC Bank and Axis Bank
c. III only b. Citibank and IDBI Bank
d. I and II only c. ICICI Bank and Kotak Mahindra Bank
e. I, II, and III d. Punjab National Bank and Bank of Baroda
e. Federal Bank and IndusInd Bank

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including CTBC Bank and Standard Chartered, with

28. Which mobile application, launched by Bank of funds raised via its branch in Gujarat International
Baroda in March 2025, is designed exclusively to Finance Tec-City (GIFT City), in March 2025?
enhance the cash management operations of a. State Bank of India
corporate customers, offering features like real-time b. Bank of India
account summaries, group entity dashboard, mini- c. Punjab National Bank
statements, and advanced security with OTP d. Canara Bank
verification and 3-Factor Authentication? e. Union Bank of India
a. BOB BizConnect
b. mDigiNext 33. Which of the following was permitted by the
c. CashFlowPro Reserve Bank of India to participate in all repo
d. BOB CorpEase operations, regardless of the tenor, as part of
e. SmartBank360 liquidity management measures, in March 2025?
a. Scheduled Commercial Banks
29. In March 2025, The _________ meeting of the b. Urban Cooperative Banks
Central Board of Directors of Reserve Bank of India c. Standalone Primary Dealers
was held in Thiruvananthapuram under the d. Regional Rural Banks
Chairmanship of Sanjay Malhotra, Governor, e. Non-Banking Financial Companies
assessed the emerging global and domestic
economic landscape, including the evolving 34. Which among the following bank was penalized
geopolitical and financial market developments and Rs. 75 lakh by the Reserve Bank of India for
associated challenges. violations related to KYC norms, including failure to
a. 198th categorize customers based on risk perception and
b. 655th allotting multiple customer identification codes
c. 217th instead of a Unique Customer Identification Code, in
d. 512th March 2025?
e. 614th a. Punjab & Sind Bank
b. Axis Bank
30. Which category of Indian banks achieved a c. HDFC Bank
record consolidated net profit of Rs. 7,571 crore in d. ICICI Bank
FY 2023-24, marking a significant improvement in e. Bank of Baroda
key financial parameters such as CRAR, deposits,
advances, NPA levels, and credit-to-deposit ratio, 35. The Reserve Bank of India (RBI) announced a
while playing a crucial role in financial inclusion decision to raise the foreign individual investment
through schemes like PMJDY, PMSBY, PMJJBY, and cap in listed companies from ______% to 10% as
APY, in March 2025? part of efforts to boost capital inflows in March
a. Small Finance Banks 2025.
b. Payment Banks a. 3%
c. Regional Rural Banks b. 5%
d. Cooperative Banks c. 7%
e. Public Sector Banks d. 9%
e. 12%
31. According to an NPCI circular in March 2025,
The Reserve Bank of India (RBI) and the National 36. Which new subsidiary was incorporated in March
Payments Corporation of India (NPCI) approved an 2025 to expand into the securities broking business,
increase in the ATM interchange fee for cash aiming to compete with established players in stock
withdrawals from Rs ______ to Rs 19, effective trading?
from May 1, 2025. a. PhonePe Securities Private Limited
a. 15 b. MobiKwik Securities Broking Private Limited
b. 14 c. Paytm Stock Broking Limited
c. 16 d. BharatPe Capital Markets
d. 17 e. Razorpay Wealth Management
e. 11
37. Which fintech startup, incubated at Times
32. Which Indian public sector bank successfully Internet, raised $14 million in seed funding in March
raised $400 million through a dollar syndicated loan 2025 to enhance financial services for Indian-
its first such deal since 2012 attracting 22 lenders, Americans, aiming to create a seamless financial

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bridge between NRIs and India, with investments Programme Implementation (Mospi) in February
from NEAR Foundation, Circle Ventures, and Times 2025?
Internet? a. 7.1 per cent; 5.9 per cent
a. BharatPe b. 6.2 per cent; 5.6 per cent
b. Abound c. 7.2 per cent; 4.3 per cent
c. Razorpay d. 8.6 per cent; 7.1 per cent
d. Zolve e. 5.4 per cent; 5.1 per cent
e. Stashfin
42. Output in Indias eight core infrastructure
38. According to the RBI data, which sector sectors, which constitute about 40% of overall
recorded a decline in credit growth to 11.4% in industrial production, grew 4.6% in January, mildly
February 2025, compared to 20.0% in February slower than the upgraded 4.8% growth recorded in
2024, reflecting a significant slowdown in lending? December but still the second highest uptick in six
a. Services sector months. Identity which among the following
b. Retail loans statement(s) is/are correct in context of this? I. The
c. Agriculture and allied activities Commerce and Industry ministry also revised
d. Infrastructure development upwards core sectors growth for October to 3.8%
e. Professional services from the 3.1% growth estimated earlier. II. Steel
and electricity generation grew 3.7% and 1.3%,
39. The National Payments Corporation of India respectively. III. The core sectors had grown 5.2%
(NPCI) is set to implement new guidelines for in January 2024.
Unified Payments Interface (UPI) transactions from a. III Only
April 1, 2025, to enhance security, interoperability, b. I and II Only
and overall customer experience. Which among the c. II and III Only
following is not correct key changes will be effective d. I and III Only
from April 1st? e. I, II and III
a. Regular monthly updating of mobile number
records through MNRL/DIP. 43. As per the Multilateral financing agency
b. Deactivating UPI IDs associated with inactive or International Monetary Fund (IMF), India will retain
reused mobile numbers. its position as the fastest-growing major economy
c. Mandatory opt-in for UPI number seeding; by clocking a GDP growth of how many per cent in
consent cant be captured at the time of 2025-26?
transactions. a. 6.1 per cent
d. Limitation of Collect Payments facility to verified b. 5.9 per cent
merchants; person-to-person collect payments c. 6.5 per cent
limited to Rs. 2,000. d. 7.2 per cent
e. Obligatory monthly reporting by PSPs for locally e. 6.9 per cent
settled UPI numbers because of system lag.
44. The Union Government released Fifteenth
40. India will need to expand at an average Finance Commission XV FC Grants worth Rs. 699.38
_____________ annually in real terms to realise its crores for Rural Local Bodies RLBs to which Indian
goal of emerging as a developed country by 2047, state, with funds allocated to 21 District
according to a World Bank report released in Panchayats, 326 Block Panchayats, and 3220 Gram
February 2025. Panchayats, in March 2025?
a. 6.3 per cent a. Bihar
b. 7.2 per cent b. West Bengal
c. 8.7 per cent c. Odisha
d. 7.8 per cent d. Jharkhand
e. 8.2 per cent e. Chhattisgarh

41. Indias economic growth accelerated to 45. Which advanced ropeway technology, set to be
________________ in the December quarter of used in the Sonprayag-Kedarnath Ropeway Project,
FY25, up from a revised __________ in the enables high-capacity passenger transport with
previous quarter, reversing two consecutive enhanced stability and wind resistance, significantly
quarters of slowdown, however, significant revisions reducing travel time for pilgrims, in March 2025?
to past data have left economists perplexed as per a. Monocable Detachable Gondola
the Data released by the Ministry of Statistics and b. Funicular Railway System

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c. Bi-Cable Ropeway System

d. Tri-Cable Detachable Gondola 50. According to the India's Economic Survey for
e. Aerial Tramway System 2024-25, The agriculture sector recorded a growth
rate of __________ in the second quarter of FY25,
46. The Cabinet Committee on Economic Affairs marking a recovery from the previous four quarters.
(CCEA), chaired by the Prime Minister Shri Narendra a. 3.5%
Modi, has approved the construction of 12.4 km b. 4.8%
ropeway project from Govindghat to Hemkund c. 5.5%
Sahib Ji in Uttarakhand, in March 2025. Identify the d. 9.2%
total capital cost of this project. e. 2.9%
a. Rs. 1,720.19 crore
b. Rs. 2,730.13 crore 51. The Index of Industrial Production (IIP)
c. Rs. 2,900.06 crore recorded a growth rate of _________ in January
d. Rs. 5,730.93 crore 2025, improving from 3.2% in December 2024, as
e. Rs. 3,170.50 crore per the Quick Estimates released in March 2025
that are released on 12th of every month (or
47. Which venture capital firm led the $1.1 million previous working day if 12th is a holiday) with a six
seed funding round for CredResolve, a Gurugram- weeks lag and compiled with data received from
based AI-powered collections platform, which aims source agencies, which in turn receive the data
to enhance debt recovery efficiency through from the producing factories/ establishments.
automation, borrower engagement strategies, and a. 4.4%
compliance with RBI regulations, in March 2025? b. 5.0%
a. Sequoia Capital India c. 5.5%
b. UNLEASH Capital Partners d. 6.3%
c. Accel Partners e. 7.8%
d. Tiger Global Management
e. SoftBank Vision Fund 52. Based on the Consumer Price Index (CPI) data
for February 2025, which of the following
48. The Economic Survey 2024-25 highlights statements are/is correct? I. The overall year-on-
deregulation as a key factor for India's economic year inflation rate for February 2025 is 3.61%
growth and emphasizes domestic growth drivers (Provisional). II. The Consumer Food Price Index
amid global trade slowdown. Which of the following (CFPI) inflation rate for rural areas in February
statements is/are correct regarding this survey? I. 2025 is 3.20%. III. The inflation rate for Fuel &
The agriculture sector recorded a growth rate of Light in February 2025 is negative.
3.5% in the second quarter of FY25, marking a a. I and II only
recovery from the previous four quarters. II. Indias b. II and III only
GDP is expected to grow by 6.3-6.8% in FY26. III. c. I and III only
The GNPA ratio of SCBs declined to a 12-year low of d. I, II, and III
2.6% at the end of September 2024. e. II only
a. I and II only
b. II only 53. According to the India's Economic Survey for
c. II and III only 2024-25, Identify the Correct Statement(s)
d. I and III only regarding performance of the banking sector and
e. I, II, and III credit availability. I. The banking sector witnessed
improved asset quality, with declining GNPAs and
49. India's Economic Survey for 2024-25 was tabled rising CRAR. II. The GNPA ratio of SCBs declined to
in Parliament before the Union Budget by Finance a 12-year low of 5.6% at the end of September
Minister Nirmala Sitharaman that reviews the 2024. III. Profitability of SCBs improved during H1
current financial year's economic performance and of FY25.
identifies national challenges. A team led by Chief a. I and II only
Economic Adviser named _________________ b. I only
prepare the document. c. II and III only
a. V Anantha Nageswaran d. I and III only
b. T. V. Somanathan e. I, II, and III
c. Tuhin Kanta Pandey
d. Rajiv Gauba 54. As per a report by Morgan Stanely released in
e. Ajay Kumar Bhalla March 2025, India will be the world's

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________________-largest economy by 2028 as it FY25 grew by 13.13%, reaching ____________

becomes the world's most sought-after consumer trillion, supported by a significant rise in advance
market and gains share in global output, driven by tax payments, where corporate advance tax
macro stability influenced policy and better increased by 12.54% to 7.57 trillion and non-
infrastructure. corporate advance tax grew by 20.47% to 2.87
a. 3rd trillion, in March 2025.
b. 4th a. 19.75
c. 2nd b. 20.50
d. 1st c. 21.26
e. 5th d. 22.80
e. 23.15
55. As per a report by Morgan Stanely released in
March 2025, India will be the world's third largest 59. The Union Cabinet has approved the setting up
economy by 2028, From a $3.5 trillion economy in of a new Brownfield Ammonia-Urea Complex,
2023, the Indian economy is projected to expand to Namrup IV, with an annual capacity of 12.7 Lakh
________________________ in 2026. Metric Tonnes (LMT). Which of the following
a. $3.9 trillion statements are/is correct regarding this? I. Namrup
b. $4.2 trillion IV will be set up at BVFCL, Assam. II. The total
c. $4.7 trillion project cost is Rs. 10,601.40 crore. III. Government
d. $5.3 trillion of Assam holds an 18% equity stake in the JV.
e. $4.5 trillion a. I and II only
b. II and III only
56. Consumer price index (CPI) or retail inflation is c. I and III only
likely to undershoot the Reserve Bank's target in d. I, II, and III
the January-March 2025 quarter, opening more e. I only
policy space for easing the policy rate, Bank of
Baroda said. Identify the incorrect statement(s) in 60. Which of the following infrastructure projects
context of this. I. The year-on-year Consumer Price approved by the Cabinet Committee on Economic
Index (CPI) inflation rate stood at 3.61 percent, in Affairs, involves the construction of a 6-lane access-
February 2025. II. The retail inflation print fell controlled Greenfield High-Speed National Highway,
below 5 per cent in February for the first time in six in March 2025?
months. III. The sharp decline in inflation in a. Navi Mumbai Logistics Corridor
February, particularly in food categories. b. JNPA Port to Chowk Highway
a. I Only c. Mumbai-Pune Freight Link
b. I and III Only d. Maharashtra Expressway Expansion
c. II Only e. Konkan Coastal Road Project
d. I, II and III
e. III Only 61. The global rating agency Fitch Ratings retained
Indias GDP growth forecast for FY26 at
57. The Central Board of Direct Taxes (CBDT) has ____________%, citing the countrys low reliance
updated rules for tax offence settlement, allowing on external demand as a buffer against global trade
all offences under the Income Tax Act to be policies, in March 2025.
resolved by paying a fine, in March 2025. Which of a. 6.2
the following statements are/is correct? I. b. 6.3
Taxpayers can now settle all tax offences by paying c. 6.5
a fine. II. The 36-month limit for compounding d. 6.7
applications has been removed. III. Cases linked to e. 6.8
anti-national activities require CBDT chairmans
approval. 62. India has achieved a momentous milestone in
a. I and II only coal production, surpassing one billion tonnes (BT)
b. II and III only on March 20, 2025, in the fiscal year 2024-25. India
c. I and III only relies on coal for approximately _______ of its
d. III only energy mix, and around ________ of the countrys
e. I, II, and III electricity is generated by coal-based power plants.
a. 55%; 74%
58. According to data released by the Central Board b. 95%; 64%
of Direct Taxes (CBDT), net direct tax collection in c. 22%; 50%

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d. 60%; 48% c. II and III only

e. 20%; 73% d. I and III only
e. I, II, and III
63. The 11th round of commercial coal mine
auctions was launched on December 5, 2024, by 67. The Union Government has released over Rs.
the Ministry of Coal. A total of twelve mines were 436 crores under the Fifteenth Finance Commission
successfully auctioned, including eight fully explored (XV FC) Grants to Karnataka and Tripura for the
and four partially explored mines in March 2025. financial year 202425. Which of the following
Which of the following statements is/are correct statements are/is correct regarding this? I. These
regarding this? I. These mines are expected to grants empower Panchayati Raj Institutions (PRIs)
create 20,902 employment opportunities, enabling them to address location-specific needs
significantly contributing to economic development under the 29 subjects outlined in the Eleventh
in coal-bearing regions. II. The auctioned mines will Schedule of the Constitution. II. Tied Grants under
generate an annual revenue of Rs. 2,319 crore. III. XV FC are primarily for improving sanitation and
The total number of coal mines auctioned since drinking water. III. In Tripura, the government has
2020 has reached 125. allocated Rs. 31.1259 crores in Untied Grants (2nd
a. I and II only installment), benefiting 589 eligible Gram
b. II and III only Panchayats.
c. I and III only a. I only
d. I, II, and III b. II only
e. III only c. I and II only
d. II and III only
64. Which of the following venture capital firms, e. I, II, and III
known for its investments in Indian fintech startups
like CRED, Razorpay, BharatPe, and PhonePe, 68. The government plans to raise Rs 8 lakh crore
announced plans to raise $500 million for its latest through dated securities in the first half of FY26, in
flagship fund, in March 2025? March 2025. Which of the following statements
a. Sequoia Capital is/are correct regarding this? I. To finance the fiscal
b. Accel Partners deficit, the net market borrowings from dated
c. Ribbit Capital securities are estimated at Rs 11.54 lakh crore. II.
d. Tiger Global Fiscal deficit is estimated to be 3.4 percent of GDP
e. SoftBank Vision Fund for FY26 as compared to 4.8 percent of the GDP
estimated for the current financial year. III. The
65. Which Indian IT company secured a Rs. 5,500 Reserve Bank of India has fixed the Ways and Mean
Crores, 10-year strategic deal with the UKs Phoenix Advances (WMA) limit for H1 of FY 2025-26 at Rs
Group to provide life and pension business 3.20 lakh crore.
administration services through its FCA-regulated a. I and II only
entity, in March 2025? b. II and III only
a. Infosys c. I and III only
b. Tata Consultancy Services d. I, II, and III
c. HCL Technologies e. I only
d. Wipro
e. Tech Mahindra 69. India's fiscal deficit for April-February was
___________________ of the estimate for the
66. The Centre has approved the direct financial year ending March 31, government data
procurement of chana, mustard, and lentils at showed.
Minimum Support Price (MSP) during the current a. 75.2%
rabi season in March 2025. Which of the following b. 79.7%
statements are/is correct regarding this? I. Under c. 82.5%
PM-AASHA, the government will procure tur, urad, d. 85.8%
and masoor at MSP till 2028-29. II. The approved e. 90.3%
procurement includes 2.8 million tonnes of chana
and 2.82 million tonnes of mustard. III. Karnatakas 70. The Union Cabinet chaired by Prime Minister
procurement window for tur has been extended by Narendra Modi approved to release of an additional
60 days, up to May 1, 2025. instalment of Dearness Allowance (DA) to Central
a. I only Government employees and Dearness Relief (DR) to
b. I and II only

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pensioners, an increase of ________ over the measure, analyze, and improve women's
existing rate of 53% of the Basic Pay/Pension. participation and welfare at the grassroots level, in
a. 5% March 2025?
b. 1% a. Real-Time Monitoring Dashboard
c. 3% b. National Rural Womens Leadership Portal
d. 2% c. Digital Gram Panchayat Empowerment Platform
e. 4% d. Panchayat Womens Welfare Index
e. Smart Governance for Rural Women Initiative
71. In March 2025, The Cabinet Committee on
Economic Affairs (CCEA), chaired by the Prime 75. Prime Minister Narendra Modi chaired the
Minister Narendra Modi approved the construction seventh meeting of the National Board for Wildlife
of 4-lane access controlled greenfield and (NBWL) at Gir National Park in Gujarat and
brownfield Patna Arrah Sasaram corridor starting announced several significant decisions and findings
from Patna to Sasaram in Bihar. Identify the total to improve wildlife conservation efforts in India in
capital cost of this project. march 2025. Which of the following statements
a. Rs. 7,794.10 crore is/are correct? I. Population estimation of Asiatic
b. Rs. 2,488.40 crore lions is carried out once every Ten years. II. The
c. Rs. 1,212.00 crore 16th Asiatic lion census will be in 2025. III. One of
d. Rs. 4,519.20 crore the highlights of the meeting, was the release of
e. Rs. 3,712.40 crore Indias first-ever riverine dolphin census report.
a. II only
72. The Cabinet Committee on Economic Affairs b. I and II only
(CCEA) chaired by the Prime Minister Narendra Modi c. II and III only
has approved inclusion of Kosi Mechi Intra-State d. I and III only
Link Project of Bihar, in March 2025. Identify the e. I, II, and III
Correct statement(s) regarding this. I. This Project
is under Pradhan Mantri Krishi Sinchai Yojana 76. Which of the following universities was officially
Accelerated Irrigation Benefits Programme (PMKSY- renamed Dr. Manmohan Singh Bengaluru City
AIBP) of Ministry of Jal Shakti. II. The CCEA also University by the Karnataka government, as
approved central support of Rs.3,652.56 crore to announced by Chief Minister Siddaramaiah during
Bihar for completion of the project by March, 2029. his budget speech, to honor the former Prime
III. The Link Project will provide 2,10,516 hectares Ministers contributions to economic liberalization,
additional annual irrigation in Kharif season in financial reforms, and governance, in March 2025?
Araria, Purnea, Kishanganj and Katihar districts of a. Bangalore City University
Bihar. b. Visvesvaraya Technological University
a. I and II only c. University of Mysore
b. II and III only d. Karnataka State Open University
c. I and III only e. Christ University
d. I, II, and III
e. I only 77. Which national park, located in Shivpuri district,
Madhya Pradesh, was officially declared Indias 58th
73. Indias economy is expected to grow at 6.5% in tiger reserve by the Union Environment Minister
the fiscal year 2025-26, according to the latest EY Bhupender Yadav, becoming the ninth tiger reserve
Economy Watch report, released in March 2025. For in the state, in March 2025?
FY25, real GDP growth is projected at a. Sanjay National Park
______________ aligning with the revised b. Guru Ghasidas National Park
estimates by the National Statistical Office (NSO). c. Kuno National Park
a. 6.7% d. Madhav National Park
b. 7.1% e. Panna National Park
c. 6.4%
d. 6.8% 78. The National Archives of India (NAI) celebrated
e. 7.2% its 135th Foundation Day on March 11, 2025, with
an exhibition titled Indian Heritage through
74. As part of International Womens Day 2025 Architecture. Which of the following statements
celebrations, which key technological intervention are/is correct regarding the National Archives of
was introduced during the National Convention on India (NAI)? I. NAI was originally established in
Model Women-Friendly Gram Panchayats to Kolkata in 1891. II. The NAI building in Delhi was

11
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designed by Sir Edwin Lutyens. III. The book b. II and III only
launched contains 423 testimonies related to the c. I and III only
Champaran Satyagraha. d. I, II, and III
a. I and II only e. III only
b. II and III only
c. I and III only 83. The Centre has notified a 24% salary and
d. I, II, and III pension hike for Members of Parliament (MPs),
e. III only along with an increase in daily allowances and
additional pension for ex-MPs. Which of the
79. Which globally recognized textile certification, following statements are/is INCORRECT regarding
awarded by Germany, was secured by North this? I. MPs' monthly salary increased from Rs.
Eastern Handicrafts and Handlooms Development 1,00,000 to Rs. 1,24,000. II. Additional pension per
Corporation Ltd. (NEHHDC) for eri silk, year of service beyond five years rose from Rs.
strengthening its credibility in international 2,000 to Rs. 2,500. III. Karnatakas Chief Minister
markets, in March 2025? received a 75% salary increase.
a. Oeko-Tex Certification a. I and II only
b. Global Organic Textile Standard (GOTS) b. II and III only
c. Fair Trade Textile Certification c. I and III only
d. ISO 9001 Textile Standard d. I, II, and III
e. Responsible Wool Standard (RWS) e. III only

80. Which legislature became the 28th to join the 84. Union Minister of Animal Husbandry and
National e-Vidhan Application (NeVA) platform, Dairying Rajiv Ranjan Singh said in March 2025 that
marking a significant step towards digital India is the worlds largest producer of milk and has
governance by signing an MoU with the Ministry of set a target of ____________ metric tons (MMT) in
Parliamentary Affairs and the Government of the next five years, up from the current 239 MMT.
National Capital Territory, in March 2025? a. 500 million
a. Maharashtra Legislative Assembly b. 450 million
b. Delhi Legislative Assembly c. 500 million
c. Rajasthan Legislative Assembly d. 350 million
d. West Bengal Legislative Assembly e. 300 million
e. Karnataka Legislative Assembly
85. Who among the following inaugurated Techkriti
81. Which GI-Tagged agricultural product, known 2025, Asias largest intercollegiate technical and
for its intense pungency, bright red color, and entrepreneurial festival, at IIT Kanpur, emphasizing
Scoville Heat Units (SHU) range of 100,000 to the need for advancements in the Indian Armed
350,000, was exported from Sikkim to the Solomon Forces and sharing insights on future warfare
Islands with the assistance of APEDA, In March challenges, in March 2025?
2025? a. General Anil Rawat
a. Bhut Jolokia b. Manoj Pande
b. Dalle Chilly c. Anil Chauhan
c. Naga King Chili d. Admiral R. Hari Kumar
d. Tezpur Litchi e. Air Chief Marshal V.R. Chaudhari
e. Sikkim Saffron
86. NITI Aayog launched the second edition of
82. Dr. Mansukh Mandaviya announced the "Trade Watch Quarterly" on March 28, 2025,
expansion of Employees State Insurance analyzing India's trade position and highlighting key
Corporation (ESIC) coverage in Uttar Pradesh by trends in exports and imports. Which of the
notifying 15 additional districts under the following statements are/is correct regarding this?
Employees State Insurance (ESI) Scheme in March I. Indias total trade grew by 5.67% in
2025. Which of the following statements are/is AprilSeptember 2024. II. Copper imports increased
correct regarding this? I. A total of Partially notified by 28% due to infrastructure demand. III. India
districts are 103 covered under the ESI Scheme. II. holds a 10% share in global textile trade.
The newly notified districts have added 53,987 new a. I and II only
Insured Persons. III. ESIC now covers all 778 b. II and III only
districts in the country. c. I and III only
a. I and II only d. I, II, and III

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e. II only a. Poornarao Rane

b. Abha Khatua
87. Who signed an executive order officially c. Manisha Sharma
designating English as the official language of the d. Krishna Jayasankar
United States, reversing a Bill Clinton-era policy e. Sania Jain
that required federal agencies to provide language
assistance to non-English speakers, in March 2025? 92. Brandon Holt clinched his second ATP
a. Joe Biden Challenger singles title of the season after beating
b. Barack Obama Japans Shintaro Mochizuki in the Bengaluru Open
c. George W. Bush 2025 tennis tournaments singles final. He belongs
d. Kamala Harris to which country?
e. Donald Trump a. China
b. U.S.A
88. Which of the following initiatives, launched by c. Australia
Delhi Police, involves the deployment of at least 30 d. U.K
teams across the national capital to prevent eve- e. New Zealand
teasing, ensure women's safety in public spaces,
and focuses on prevention, intervention, and victim 93. In March 2025, Rithvik Choudary Bollipalli and
assistance, in March 2025? his partner Nicols Barrientos have claimed the mens
a. Project Shakti doubles title of the Chile Open in Santiago in tennis,
b. Mission Rakshak this is the first title of Rithvik and Nicolas as a team.
c. Shishtachar Squad Nicols Barrientos belongs to which country?
d. Suraksha Force a. China
e. Nari Suraksha Patrol b. U.S.A
c. Australia
89. Haryana has launched the AI-powered chatbot d. U.K
'Sarathi' to improve citizen engagement and provide e. Colombia
access to official documents. Which of the following
statements is/are correct regarding this? I. 'Sarathi' 94. Which Australian cricketer, who played 170
provides answers based on media reports and ODIs, scored 5,800 runs at an average of 43.28
public forums only. II. It can process and retrieve with 12 centuries and 35 half-centuries announced
information from a vast database of over 17,820 his retirement from One-Day Internationals (ODIs)
official documents, covering 73,622 scanned PDF immediately after ICC Champions Trophy in march
pages. III. The chatbot was developed by Haryana 2025?
State Electronics Development Corporation Limited a. David Warner
(HARTRON). b. Pat Cummins
a. I only c. Glenn Maxwell
b. II only d. Steve Smith
c. III only e. Travis Head
d. I and III only
e. II and III only 95. Which veteran Bangladeshi cricketer, who
played 274 ODIs, became the highest run scorer for
90. Who among the following Indian cricketers Bangladesh in One Day Internationals with 7,795
became the seventh player from India to play 300 runs, including nine centuries and 49 half-centuries,
ODIs, achieving this milestone during the ICC and announced his retirement from ODIs, in March
Champions Trophy, in March 2025? 2025?
a. KL Rahul a. Shakib Al Hasan
b. Mohamed Shami b. Tamim Iqbal
c. Virat Kohli c. Mahmudullah Riyad
d. Rohit Sharma d. Litton Das
e. Ajinkya Rahane e. Mushfiqur Rahim

91. Which Indian made history at the 2025 96. Which Indian table tennis legend, a seven-time
Mountain West Indoor Track and Field Commonwealth Games gold medalist and a five-
Championships by becoming the first Indian woman time Olympian, announced his retirement ahead of
to cross the 16-metre mark in indoor shot put, in the WTT Star Contender event in Chennai, marking
march 2025? the end of his 22-year career in March 2025?

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a. G. Sathiyan inclusion in the 2028 Los Angeles Olympic Games,

b. A. Sharath Kamal in March 2025?
c. Manika Batra a. Wrestling
d. Harmeet Desai b. Weightlifting
e. Soumyajit Ghosh c. Karate
d. Boxing
97. By winning the ICC Champions Trophy 2025 e. Skateboarding
with a four-wicket victory over New Zealand in the
final at the Dubai International Cricket Stadium, 102. At the Special Olympics World Winter Games
India secured its record-breaking how many titles in 2025 held in Turin, Italy, how many total medals
the tournaments history, in March 2025? did India win across events like Snowshoeing,
a. Two Alpine Skiing, Snowboarding, Short Track Speed
b. Three Skating, Cross Country Skiing, and Floorball, in
c. Four March 2025?
d. Five a. 28 medals
e. Six b. 30 medals
c. 33 medals
98. By winning the ICC Champions Trophy 2025, d. 36 medals
Rohit Sharma became the first captain in e. 40 medals
international cricket history to lead his team to the
final of all four major ICC events, securing his 103. Which of the following teams did Mumbai
second ICC title within nine months. Under whose Indians defeat in the final to win their second
captaincy did India win the ICC Champions Trophy Women's Premier League (WPL) title at the
in 2013? Brabourne Stadium in Mumbai, in March 2025?
a. MS Dhoni a. Gujarat Giants
b. Virat Kohli b. Royal Challengers Bangalore
c. Kl Rahul c. UP Warriorz
d. Virendra Sehwag d. Delhi Capitals
e. Shikhar Dhawan e. Chennai Super Queens

99. Which global para-athletics competition, 104. Which Indian state received in-principle
featuring over 90 events, will see India fielding 145 approval to host the 11th Asian Swimming
para-athletes alongside competitors from 19 other Championship, featuring events like swimming,
nations, including Kazakhstan, Australia, Saudi diving, artistic swimming, and water polo, at the
Arabia, and Japan, and is expected to serve as a Naranpura Sports Complex from October 1 to 15, In
crucial preparatory event ahead of major March 2025?
international championships, in March 2025? a. Maharashtra
a. World Para Athletics Grand Prix 2025 b. Karnataka
b. Fazza Para Athletics Grand Prix 2025 c. Tamil Nadu
c. Asian Para Games 2025 d. Rajasthan
d. World Para Athletics Championships 2025 e. Gujarat
e. Paralympic Qualifiers 2025
105. Who secured the bronze medal in the 87kg
100. In the 15th Hockey India Senior Women Greco-Roman category at the Asian Wrestling
National Championship, held in March 2025, Championship 2025, after a quarterfinal win over
_______________ defeated defending champions Tajikistans Sukhrob Abdulkhaev, in March 2025?
Haryana 4-3 in a shootout after a 1-1 draw in a. Vijay Kumar
regulation time to secure the title. b. Jiaxin Huang
a. Jharkhand c. Sunil Kumar
b. Punjab d. Yasin Yazdi
c. Mizoram e. Mohammad Reza Geraei
d. Maharashtra
e. Karnataka 106. The second edition of the Khelo India Para
Games 2025 concluded at JLN Stadium, New Delhi,
101. Which of the following sports was approved by witnessing outstanding performances, with para-
the International Olympic Committee (IOC) for athletes securing more than 550 medals in March
2025. Identify the state that topped the medal tally.

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a. Tamil Nadu c. Reliance General Insurance

b. Uttar Pradesh d. Edelweiss General Insurance
c. Haryana e. Universal Sompo General Insurance
d. Rajasthan
e. Maharashtra 112. Which European training institute, affiliated
with the Port of Antwerp-Bruges, signed an MoU
107. Identify the Indian wrestler who won the with the Indian Institute of Foreign Trade (IIFT) to
second bronze medal for the country in Amman, enhance trade education, logistics training, and
Jordan, at the Senior Asian Wrestling Championship global capacity building in March 2025?
2025 in the Greco-Roman category against a. Rotterdam School of Management, Netherlands
Amanberdi Agamammedov of Turkmenistan. b. Copenhagen Business School, Denmark
a. Sunil Kumar c. APEC Antwerp/Flanders Port Training Center,
b. Nitesh Siwach Belgium
c. Sushil Kumar d. Frankfurt School of Finance & Management,
d. Bajrang Punia Germany
e. KD Jadhav e. Geneva Graduate Institute, Switzerland

108. Who announced his retirement from 113. Which Indian conglomerate, through its
professional badminton to focus entirely on subsidiaries, signed a Fiscal Support Agreement
coaching after being part of India's 2022 (FSA) with the India Semiconductor Mission (ISM)
Commonwealth Games silver medal-winning mixed for establishing Indias first commercial
team, in March 2025? semiconductor fabrication plant in Dholera, Gujarat,
a. Pullela Gopichand with an investment exceeding Rs. 91,000 crore, in
b. Manu Attri March 2025?
c. B. Sumeeth Reddy a. Vedanta Resources
d. H. S. Prannoy b. Bharat Forge Group
e. Chirag Shetty c. Tata Group
d. Hindustan Aeronautics Limited
109. Bihar will host Mens Hockey Hero Asia Cup e. L&T Technology Services
2025 with support of Hockey India. This will be the
_____________ edition of the Asia Cup. 114. Which of the following organizations signed a
a. 9th Memorandum of Understanding with the
b. 12th Government of Jammu and Kashmir to develop river
c. 5th cruise tourism on National Waterways, including
d. 17th River Chenab, River Jhelum, and River Ravi, with an
e. 10th estimated investment of 100 crore in March 2025?
a. National Water Development Agency
110. Which of the following banks announced a b. Inland Waterways Authority of India
strategic partnership with Chennai Super Kings c. Shipping Corporation of India
(CSK) to launch a co-branded credit card, offering d. Indian Ports Association
fans exclusive rewards on CSK-related purchases, e. National Mission for Clean Ganga
match tickets, and team merchandise, in March
2025? 115. Coal India Limited (CIL) has inked a
a. Karur Vysya Bank memorandum of understanding (MoU) with which
b. Indian Overseas Bank Indian Institute of Technology for establishing a
c. City Union Bank Centre of Clean Coal Energy and Net Zero
d. South Indian Bank (CLEANZ), aims to develop clean coal technologies
e. Tamilnad Mercantile Bank and diversification in coal utilization in March 2025?
a. IIT Madras
111. Which general insurance company partnered b. IIT Delhi
with Hyundai India Insurance Broking Pvt. Ltd. HIIB c. IIT Bombay
to offer motor insurance policies for private and d. IIT Hyderabad
commercial passenger vehicles through an e. IIT Roorkee
extensive network of 600 dealerships across India,
in March 2025? 116. The Small Industries Development Bank of
a. Future Generali India Insurance India (SIDBI) and which of the following bank
b. Magma General Insurance announced that they have signed a Memorandum of

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Understanding (MoU) to provide financial support to b. II and III only

micro, small, and medium enterprises (MSMEs), in c. III only
March 2025? d. I and III only
a. Bank of Baroda e. I, II, and III
b. Federal Bank
c. Union Bank of India 121. Which two organizations signed a
d. Central Bank of India Memorandum of Understanding (MoU) to develop a
e. Axis Bank state-of-the-art Multi-Modal Logistics Park (MMLP)
in Varanasi, a 150-acre facility strategically
117. Who is the Managing Director of Mercedes- connected to NH7, the Eastern Dedicated Freight
Benz India Private Limited, which signed a Corridor, and National Waterway-1, in March 2025?
Memorandum of Understanding (MoU) with the a. National Highways Authority of India & Indian
Department for Promotion of Industry and Internal Railways
Trade (DPIIT) to promote innovation, sustainability, b. NHLML & Inland Waterways Authority of India
and road safety in India, in March 2025? c. Dedicated Freight Corridor Corporation & IWAI
a. Santosh Iyer d. NITI Aayog & Ministry of Road Transport &
b. Ola Kllenius Highways
c. Martin Schwenk e. Indian Port Rail Corporation & IWAI
d. Roland Folger
e. Markus Schfer 122. Which of the following policies, approved by
the Union Cabinet on August 24, 2024, aims to
118. Who among the following was appointed as a establish India as a global leader in bio-based
judge of the Supreme Court of India following the innovations, focusing on sustainable
recommendation of the Supreme Court collegium in biomanufacturing across areas like bio-based
March 2025 , and is set to become the Chief Justice chemicals, precision biotherapeutics, and climate-
of India (CJI) in May 2031? resilient agriculture, in March 2025?
a. Vikram Nath a. National Biotechnology Development Strategy
b. Abhay S Oka b. BioIndia 2047 Mission
c. Bhushan R Gavai c. National Bio-Manufacturing and Innovation
d. Joymalya Bagchi Framework
e. Surya Kant d. India BioGrowth Mission
e. BioE3 (Biotechnology for Economy, Environment,
119. Which life insurance company partnered with and Employment) Policy
GIC Housing Finance Limited to introduce the Group
Asset Secure plan, a credit life insurance solution 123. Who launched the "Digital Address Code"
aimed at protecting home loan borrowers from initiative to establish a geo-coded addressing
financial liabilities in case of unforeseen system for simplified public and private service
circumstances, in March 2025? delivery, positioning India as a leader in digital
a. Canara HSBC Life Insurance innovation, in March 2025?
b. SBI Life Insurance a. Ministry of Finance
c. HDFC Life Insurance b. Department of Posts
d. ICICI Prudential Life Insurance c. National Informatics Centre
e. Bajaj Allianz Life Insurance d. India Post Payments Bank
e. Ministry of Electronics and IT
120. The PM Surya Ghar: Muft Bijli Yojana
(PMSGMBY), launched on 13th February 2024, aims 124. Which Indian defence public sector enterprise
to provide free electricity through rooftop solar signed a Rs. 2,906 crore contract with the Ministry
systems to 1 crore residential households. As of of Defence for the procurement of the Low-level
10th March 2025, the scheme has achieved a Transportable Radar (LLTR) Ashwini, designed to
milestone of 10.09 lakh installations. Which of the enhance the Indian Air Force's operational
following statements is/are correct? I. The scheme preparedness, in March 2025?
provides subsidy up to Rs. 78,000 for a 3KW a. Hindustan Aeronautics Limited
rooftop solar system. II. The scheme has a total b. Bharat Electronics Limited
outlay of Rs. 75,021 crore. III. The scheme offers c. Bharat Dynamics Limited
collateral-free loans through 12 Public Sector Banks d. Mazagon Dock Shipbuilders Limited
at an interest rate of 6.75%. e. Garden Reach Shipbuilders & Engineers
a. I and II only

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125. Which of the following banks partnered with novel biopesticides aimed at reducing the harmful
the Department for Promotion of Industry and effects of chemical pesticides on human health and
Internal Trade (DPIIT) through a Memorandum of the environment, In March 2025?
Understanding (MoU) to strengthen Indias startup a. Bayer CropScience
ecosystem by offering financial support, market b. HAPICO Industries
linkages, and mentorship to product startups and c. UPL Limited
innovators through its HeadStartup program, in d. Syngenta India
March 2025? e. PI Industries
a. Kotak Mahindra Bank
b. ICICI Bank 130. Which educational institution partnered with
c. Axis Bank the Centre for Development of Telematics (C-DOT)
d. YES BANK to develop a Generative AI-enhanced chatbot aimed
e. HDFC Bank at disaster early warning and emergency
communication, In March 2025?
126. Which organization partnered with the a. IIT Bombay
Department for Promotion of Industry and Internal b. IIT Madras
Trade (DPIIT) to enhance Indias startup ecosystem c. IIT Guwahati
by supporting manufacturing and IT sector startups d. IIT Delhi
through digital transformation and Generative AI e. IIT Kanpur
solutions, in March 2025?
a. Infosys 131. Which institution signed a Memorandum of
b. Kyndryl Solutions Pvt Ltd Understanding (MoU) with the Ministry of Statistics
c. Tata Consultancy Services and Programme Implementation (MoSPI) to
d. HCL Technologies promote data innovation and evidence-based
e. Wipro policymaking through collaborative research, In
March 2025?
127. Which premier mental health institute signed a. Statistical Institute
an MoU with the Armed Forces Medical Services for b. Institute of Science
collaborative research and training to enhance c. Indian Institute of Technology Bombay
mental health care for military personnel, focusing d. Indian Institute of Management Ahmedabad
on PTSD, anxiety, and depression, in March 2025? e. National Institute of Public Finance and Policy
a. AIIMS Delhi
b. NIMHANS Bengaluru 132. Which initiative, sponsored by the Ministry of
c. Tata Institute of Social Sciences Electronics and Information Technology (MeitY),
d. National Institute of Neuroscience Kolkata focuses on the design, development, and testing of
e. PGIMER Chandigarh an indigenous 1.5 Tesla MRI system for medical
imaging, with SAMEER, Mumbai as the nodal
128. SEBI has partnered with DigiLocker to reduce agency, in March 2025?
unclaimed assets in the securities market that will a. National Imaging & Diagnostics Program
help investors store and access information related b. Indigenous Magnetic Resonance Advancement
to their demat and mutual fund holdings securely, Project
in March 2025. Which of the following statements c. Indigenous Magnetic Resonance Imaging (IMRI)
are/is correct? I. Investors can fetch and store their A National Mission
Consolidated Account Statement (CAS) in d. Medical Electronics & AI Research Initiative
DigiLocker. II. Investors can nominate individuals e. High-Field MRI Development Program
who will get access to their financial documents
after their demise. III. The circular would come into 133. Which private sector bank signed a
effect from December 31, 2025 Memorandum of Understanding (MoU) with the
a. I and II only Indian Air Force (IAF) to provide the Shaurya Salary
b. I and III only Account, offering exclusive benefits such as a zero-
c. II and III only balance savings account, protection for personnel
d. I, II, and III and family, and attractive interest rates, in March
e. III only 2025?
a. HDFC Bank
129. Which private company signed an MoU with b. Axis Bank
CSIR-Indian Institute of Integrative Medicine (CSIR- c. Bandhan Bank
IIIM), Jammu to collaborate on the development of d. ICICI Bank

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e. Kotak Mahindra Bank affordable generic veterinary medicines, with an

allocated provision of Rs. 75 crore, in March 2025?
134. Which initiative, launched by the Unique a. National Livestock Immunization Program
Identification Authority of India (UIDAI) in b. Pashu Sanjeevani Yojana
collaboration with IIIT-Hyderabad, aims to evaluate c. Pashu Aushadhi Yojana
the performance of biometric algorithms in d. Veterinary Healthcare Mission
recognizing fingerprints over time, particularly in e. Animal Disease Eradication Scheme
children aged 5-10 years, in March 2025?
a. Aadhaar Biometric Precision Initiative 139. Department of Food & Public Distribution,
b. Digital Identity Authentication Project Government of India, has notified a scheme for
c. Fingerprint Recognition Consistency Framework CSMs under modified Ethanol Interest Subvention
d. Advanced Biometric Integrity Program Scheme for Conversion of their existing sugarcane-
e. Biometric SDK Benchmarking Challenge based feedstock ethanol plants into multi-feedstock
based plants to use grains. Identify the INCORRECT
135. The Ministry of Rural Development (MoRD) and Statement(s) regarding this. I. Government is
the United Nations Childrens Fund (UNICEF) facilitating entrepreneurs with Interest subvention
YuWaah signed a Statement of Intent (SOI) in @ 10% per annum or 60% of rate of interest
March 2025 to empower rural women and youth charged by banks/financial institutions. II. Under
across India. How many years is this partnership EBP Programme, Government has fixed the target
signed for? of 20% blending of ethanol with petrol by 2025. III.
a. Three The sugarcane crushing period is limited to 4-5
b. Five months only in a year due to which sugar mills can
c. Four operate for a limited period of time.
d. One a. II only
e. Ten b. I only
c. II and III only
136. Which state government signed a d. I and III only
Memorandum of Understanding (MoU) with e. I, II, and III
Nasscom to enhance skill development, generate
employment opportunities, and attract investment 140. Which of the following state has approved the
worth Rs. 4.4 trillion under its new industrial policy, implementation of the Central Government's Unified
in March 2025? Pension Scheme for officers and employees in the
a. Madhya Pradesh state and new Excise Policy 2025 during a cabinet
b. Maharashtra meeting in March 2025?
c. Chhattisgarh a. Uttarakhand
d. Karnataka b. Uttar Pradesh
e. Rajasthan c. Kerala
d. Gujarat
137. The Government has initiated five pilot e. Himachal pradesh
projects for using Hydrogen in buses and trucks, as
part of the National Green Hydrogen Mission in 141. The Scholarships to Young Artists (SYA)
March 2025. Which of the following statements Scheme, implemented by the Ministry of Culture,
is/are correct regarding this? I. These pilot projects provides financial support to young artists for
are likely to be commissioned in the next 18-24 advanced training. Which of the following
months. II. The Government has sanctioned a statements is/are correct regarding this? I. The SYA
financial support of Rs. 208 Crore for these scheme supports young artists in cultural fields. II.
projects. III. All hydrogen-powered vehicles will Selected scholars receive Rs. 5,000 per month for
operate exclusively on routes within Delhi-NCR two years. III. The scheme is part of the
a. I and II only Scholarship and Fellowship for Promotion of Art and
b. II only Culture initiative.
c. II and III only a. I only
d. I and III only b. I and II only
e. I, II, and III c. II and III only
d. I and III only
138. Which newly introduced component under the e. I, II, and III
Livestock Health and Disease Control Programme
(LHDCP) aims to provide good quality and

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142. HDFC Bank will now accept deposits under the improving milk processing capacity, and
Senior Citizens Savings Scheme (SCSS), a savings strengthening supply chains to enhance farmer
instrument run by the Government of India for the incomes and rural development. Which of the
elderly, in March 2025. Identify the INCORRECT following statements are/is correct regarding this?
Statement(s) regarding this. I. The SCSS interest I. The total budget for the Revised NPDD is Rs.
rate is fixed at 5.2% for all future periods. II. 2790 crore. II. Component A focuses on dairy
Customers eligible for this scheme include infrastructure and milk testing labs. III. Component
individuals at or above the age of 60 and people B is implemented in five states with JICA support.
who have superannuated at/above the age of 55 a. I and II only
years. III. The scheme offers a quarterly interest b. II and III only
payout with a five-year lock-in period. c. I and III only
a. I and II only d. I, II, and III
b. II and III only e. I only
c. I and III only
d. I, II, and III 146. The Union Cabinet, chaired by Prime Minister
e. I only Narendra Modi, approved the Revised Rashtriya
Gokul Mission (RGM) with a total allocation of
143. The Mutual Credit Guarantee Scheme for ______ crore during the 15th Finance Commission
MSMEs (MCGS-MSME) provides a 60% credit cycle (2021-22 to 2025-26), including an additional
guarantee for loans up to Rs. 100 crore to eligible outlay of Rs. 1,000 crore, in March 2025.
MSMEs for purchasing equipment or machinery. a. Rs. 1,200
Which of the following statements are/is correct b. Rs. 5,500
regarding this? I. The Scheduled Commercial Banks c. Rs. 2,500
(SCBs) / All India Financial Institutions (AIFIs) and d. Rs. 2,100
Non-Banking Finance Companies (NBFCs), shall be e. Rs. 3,000
the eligible MLIs under the Scheme. II. The scheme
is implemented by the Reserve Bank of India (RBI). 147. The Union Cabinet approved the Incentive
III. To be eligible, an MSME must have a valid Scheme for promotion of low-value BHIM-UPI
Udyam Registration Number and should not be an transactions (P2M) for FY 2024-25 with an
NPA. estimated outlay of Rs. 1,500 crore. Which of the
a. II only following statements are/is INCORRECT regarding
b. I and II only this? I. The scheme is applicable for transactions
c. II and III only above Rs. 4,000. II. Incentive at the rate of 0.15%
d. I and III only per transaction value will be provided for
e. I, II, and III transactions upto Rs.2,000 pertaining to category of
small merchants. III. For all the quarters of the
144. The Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme, 80% of the admitted claim amount by the
was launched in August 2014. As of March 7, 2025, acquiring banks will be disbursed without any
55.02 crore Jan-Dhan accounts have been opened, conditions..
including 36.63 crore in rural and semi-urban areas. a. I and II only
Which of the following statements are/is correct b. II and III only
regarding various financial schemes like PMSBY, c. I and III only
PMJJBY, and Atal Pension Yojana support financial d. I, II, and III
security and credit access? I. PMJJBY provides life e. I only
insurance of Rs. 2 lakh at Rs. 436 per year. II.
Stand Up India loans range from Rs. 10 lakh to Rs. 148. Which of the following government initiatives
1 crore. III. PM Vishwakarma Scheme launched on has been implemented with Cabinet approval to
September 17, 2023. support payment ecosystem participants and
a. I only promote the use of RuPay Debit Cards and low-
b. I and II only value BHIM-UPI (P2M) transactions, in March 2025?
c. II and III only a. Digital Payment Adoption Framework
d. I and III only b. Cashless India Promotion Scheme
e. I, II, and III c. Incentive Scheme for Digital Payments
Infrastructure
145. The Union Cabinet has approved the Revised d. Incentive Scheme for Promotion of RuPay Debit
National Program for Dairy Development (NPDD) Cards and BHIM-UPI
that focuses on modernizing dairy infrastructure, e. Payment Ecosystem Support Program

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deposits under MLTGD shall continue till redemption

149. SBI Mutual Fund has launched two new PSU as per extant guidelines of GMS issued.
bank-focused investment schemes: the SBI BSE a. I and II only
PSU Bank Index Fund and the SBI BSE PSU Bank b. II and III only
ETF in March 2025. Which of the following c. I and III only
statements are/is correct regarding this schemes? I. d. I, II, and III
The SBI BSE PSU Bank Index Fund is an open- e. III only
ended scheme tracking the BSE PSU Bank Index. II.
The SBI BSE PSU Bank ETF will not be listed on 153. India's textile industry is important to the
stock exchanges. III. Both funds aim to replicate economy and makes some of the most innovative
the performance of the BSE PSU Bank Index. fabrics globally, makes Five Years of National
a. I and II only Technical Textiles Mission, in March 2025. Identify
b. II and III only the Correct Statement(s) regarding this Mission. I.
c. I and III only The National Technical Textiles Mission (NTTM) was
d. I, II, and III launched in 2020 with a budget of Rs. 1,480 crore.
e. I only II. The National Technical Textiles Mission (NTTM)
has Two key components aimed at boosting the
150. Which Coal India subsidiarys Corporate Social sector's growth. III. Rs. 517 crore has been
Responsibility (CSR) initiative, SECL Ke Sushrut, allocated for the National Technical Textiles Mission
became the first and only CSR scheme of any coal (NTTM) since its launch.
PSU under the Ministry of Coal to be listed on the a. I and II only
Direct Benefit Transfer (DBT) portal, supporting free b. II and III only
NEET coaching for underprivileged students, in c. I and III only
March 2025? d. I, II, and III
a. Northern Coalfields Limited e. III only
b. Western Coalfields Limited
c. Bharat Coking Coal Limited 154. The Union Cabinet has approved the
d. South Eastern Coalfields Limited Electronics Component Manufacturing Scheme with
e. Mahanadi Coalfields Limited a funding of Rs. 22,919 crore to strengthen India's
electronics supply chain, in March 2025. Which of
151. The Ministry of Education launched the the following statements is/are correct regarding
"Baalpan ki Kavita" initiative to promote multilingual this scheme? I. The scheme aims to attract
early childhood education that aims to create a investment of Rs. 59,350 crore. II. The tenure of
compendium of Bhartiya rhymes/poems in Indian the scheme is Seven (7) years with one (1) year of
languages and English, focusing on Indian cultural gestation period. III. The domestic production of
context. Which of the following statements are/is electronic goods has increased from Rs.1.90 lakh
correct regarding this? I. The initiative aligns with crore in FY 2014-15 to Rs.9.52 lakh crore in FY
NEP 2020s focus on multilingual early education. II. 2023-24 at a CAGR of more than 17%.
Contributions can only include newly composed a. I and II only
poems, not folklore. III. The contest accepts entries b. II and III only
for children aged 3 to 8 years. c. I and III only
a. I and II only d. I, II, and III
b. II and III only e. I only
c. I and III only
d. I, II, and III 155. Bank of Baroda announced that it has gone
e. III only live with the new Pradhan Mantri Vidyalaxmi (PM-
Vidyalaxmi) Scheme to provide financial support to
152. As per notification, the Gold Monetisation meritorious students, in March 2025. Which of the
Scheme (GMS) was launched reduce India's gold following statements are correct regarding this? I.
imports and mobilize gold for productive use, From The bank also provides collateral-free education
March 26, 2025, the Medium-Term (MTGD) and loans up to Rs 40.00 lakh to students pursuing
Long-Term (LTGD) deposits will be discontinued. courses in 384 identified premier institutions in
Which of the following statements are/is correct India. II. The bank has 12 dedicated Education Loan
regarding this scheme? I. The GMS was launched in Sanctioning Cells (ELSC) and 119 Retail Assets
2015 to reduce gold imports. II. Short-Term Bank Processing Cells (RAPC). III. The scheme provides a
Deposits under GMS will continue. III. The existing 75% credit guarantee from the Government of India
for loans up to Rs. 7.5 lakh.

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a. I and II only Management as well as the Financial Stability

b. II and III only Department, in March 2025?
c. I and III only a. M. Rajeshwar Rao
d. I, II, and III b. Ajay Kumar Choudhary
e. II only c. Ajit Ratnakar Joshi
d. Deepak Kumar
156. Who was re-elected unopposed as the e. Swaminathan J
Chairman of the Bar Council of India (BCI) for the
seventh consecutive term, emphasizing the need for 161. who among the following appointed as the
welfare measures and structured training programs Secretary, Department of Legal Affairs, Ministry of
for young lawyers, in March 2025? Law and Justice by the Appointments Committee of
a. R. Venkataramani the Cabinet in March 2025?
b. Manan Kumar Mishra a. Proff. Rajesh Kumar
c. Tushar Mehta b. Ajay Bhadoo
d. Dushyant Dave c. Arvind Kumar Sharma
e. Kapil Sibal d. Dr. Taniya Bajaj
e. Dr. Anju Rathi Rana
157. Who was assigned the additional charge of
Secretary, Department of Revenue, after Tuhin 162. Who among the following was appointed as
Kanta Pandey was appointed as Chairman of the the president of the Asian Cricket Council (ACC)
Securities and Exchange Board of India SEBI, in after Jay Shah stepped down, following his election
March 2025? as the chairman of the International Cricket Council,
a. Sanjay Malhotra in March 2025?
b. Ajay Seth a. Ehsan Mani
c. Rajiv Kumar b. Nazmul Hassan
d. Tarun Bajaj c. Imran Khwaja
e. Subhash Chandra Garg d. Shammi Silva
e. Thilanga Sumathipala
158. Who assumed the office of Controller General
of Defence Accounts (CGDA), bringing over three 163. Who received a one-year extension as the
decades of experience in government service, Managing Director and Chief Executive Officer (MD
including roles in the Defence Accounts & CEO) of IndusInd Bank after the Reserve Bank of
Department, the Cabinet Secretariat, and India (RBI) granted approval for a shorter tenure
international diplomatic assignments, in March than the three-year term sought by the banks
2025? Board, in March 2025?
a. Dr. Mayank Sharma a. Sandeep Bakhshi
b. Ajay Kumar Bhalla b. Sumant Kathpalia
c. Rajeev Ranjan c. Amitabh Chaudhry
d. Vivek Joshi d. Uday Kotak
e. Sanjay Malhotra e. Prashant Kumar

159. Who among the following was appointed as 164. GRM Overseas Limited, a leading consumer
the Chief Executive Officer of Government e staples company and one of Indias top five rice
Marketplace (GeM), Indias largest e-procurement exporters, launched a new marketing campaign
platform, while continuing to serve as Additional titled "Better Half Ki Better Choice" to promote its
Secretary in the Department of Commerce, as the 10X Classic Chakki Fresh Atta. As part of this
platform transitions to a next-generation digital campaign, Bollywood actor __________________
marketplace in March 2025? was announced as the brand ambassador,
a. Rajesh Verma reinforcing the tagline "10 Ka Dum" in March 2025.
b. Ajay Bhadoo a. Akshay Kumar
c. Arvind Kumar Sharma b. Salman Khan
d. Tarun Bajaj c. Shah Rukh Khan
e. Sanjay Malhotra d. Ranveer Singh
e. Ajay Devgn
160. Who was appointed as the Executive Director
of the Reserve Bank of India (RBI), overseeing the 165. Who among the following assumed charge as
Department of Statistics and Information the Chief Executive of the Indian Banks' Association

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(IBA) for two consecutive terms, having previously d. Stephen Poloz

served as MD & CEO of Punjab National Bank (PNB) e. Jim Flaherty
in March 2025?
a. Sunil Mehta 171. In March 2025, Who was appointed as the
b. Atul Kumar Goel Executive Director of the Reserve Bank of India
c. A. Manimekhalai (RBI) with the responsibility of leading the
d. Debadatta Chand Department of Economic and Policy Research
e. Dinesh Khara (DEPR), having previously served as an Advisor in
the Monetary Policy Department?
166. Who was appointed as the Head of Security a. Ajit Ratnakar Joshi
Operations Center at ICICI Bank, bringing over 18 b. Indranil Bhattacharyya
years of cybersecurity and IT operations expertise, c. Michael Patra
and tasked with overseeing risk mitigation and d. Rajeshwar Rao
enhancing digital resilience, in March 2025? e. T. Rabi Sankar
a. Kamal Wali
b. Sanjeev Bajaj 172. In March 2025, Who among the following has
c. Ritesh Tiwari been appointed as the Interim Managing Director
d. Deepak Sharma (MD) and Chief Executive Officer (CEO) of Edelweiss
e. Rajiv Sinha Asset Reconstruction Company (EARC), with RBI
approval, effective until September 30, 2025?
167. In March 2025, who among the following has a. Ramesh Srinivasan
been appointed as the chairman of the board of b. Mythili Balasubramanian
directors by the Tata Communications? c. Ashwini Kumar
a. Natarajan Chandrasekaran d. Sanjay Agarwal
b. N Ganapathy Subramaniam e. Shyam Srinivasan
c. Noel Tata
d. Shantanu Naidu 173. Who was re-appointed as an Additional
e. Sudeep Kunnumal Director in the capacity of Independent Director at
Fino Payments Bank, having over four decades of
168. Who among the following assumed charge as experience in capital markets and contributing to
the Chief Executive Officer (CEO) of the key reforms, in March 2025?
Anusandhan National Research Foundation (ANRF), a. Madhabi Puri Buch
succeeding Professor Abhay Karandikar, in March b. Arundhati Bhattacharya
2025? c. Deena Mehta
a. Anuj Jindal d. Kalpana Morparia
b. Shivkumar Kalyanaraman e. Naina Lal Kidwai
c. K. VijayRaghavan
d. Ashutosh Sharma 174. Who has been appointed as the Joint Secretary
e. Raghunath Mashelkar (Director level) in the Union Public Service
Commission (UPSC) under the Central Staffing
169. Who among the following is set to be sworn in Scheme for a tenure of five years or until further
as the new Prime Minister of Trinidad and Tobago, orders, in March 2025?
succeeding Dr. Keith Rowley, during a ceremony at a. Rajesh Kumar Verma
the Presidents House in St. Anns, in March 2025? b. Anuj Kumar Singh
a. Colm Imbert c. Sanjay Prakash Sharma
b. Faris Al-Rawi d. Vivek Chaturvedi
c. Fitzgerald Hinds e. Deepak Kumar Gupta
d. Terrence Deyalsingh
e. Stuart Young 175. Who has been appointed as the Managing
Director and CEO of IFCI Ltd, following approval by
170. Who was sworn in as the Prime Minister of the Appointments Committee of the Cabinet (ACC)
Canada, replacing the previous leader after a nine- for a tenure of three years, in March 2025?
year tenure, following a landslide victory in the a. Sanjeev Kaushik
Liberal leadership race, in March 2025? b. Rahul Bhave
a. Andrew Bailey c. Pankaj Jain
b. Mark Carney d. Tuhin Kanta Pandey
c. Tiff Macklem e. Debasish Panda

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old Nangolo Mbumba, after winning 58 percent of

176. Who was elected as the Chairman of the the vote in the November elections 2024?
Indian National Trust for Art and Cultural Heritage a. Saara Kuugongelwa-Amadhila
(INTACH) for a three-year term following the b. Ellen Johnson Sirleaf
Annual General Meeting (AGM) held at the Head c. Joyce Banda
Office in New Delhi, in March 2025? d. Netumbo Nandi-Ndaitwah
a. Rajeshwar Prasad e. Samia Suluhu Hassan
b. Ashok Singh Thakur
c. Sanjay Kumar Sharma 182. Who was appointed as the Whole-Time
d. Anil Kumar Jain Member (Life) of the Insurance Regulatory and
e. Mahesh Gupta Development Authority of India (IRDAI), marking
the first time a private sector professional was
177. Who has been appointed as the new Country selected for this position, in March 2025?
Executive of Bank of America India, replacing Kaku a. Tapan Singhel
Nakhate, who will complete 15 years as CEO in b. Swaminathan S. Iyer
June, with the transition set to take place upon c. Vibha Padalkar
regulatory approval, in March 2025? d. Gopal Balachandran
a. Ajay Banga e. Devesh Srivastava
b. Vikram Sahu
c. Shanti Ekambaram 183. Which Singapore-based banks CEO, who led
d. Natarajan Chandrasekaran the institution for 15 years and played a key role in
e. Deepak Parekh establishing its wholly-owned subsidiary in India,
stepped down in March 2025, making way for the
178. Who was appointed as the Executive Director banks first female CEO, Tan Su Shan?
of Canara Bank, following a distinguished career of a. OCBC Bank
over 25 years in banking, with his last role as Chief b. Standard Chartered Bank
Financial Officer, in March 2025? c. DBS Bank
a. R.K. Sharma d. UOB Bank
b. S.K. Majumdar e. Citibank Singapore
c. P. Krishnan
d. V.K. Sinha 184. Tata Groups electronics retail chain Croma has
e. M. Deshmukh appointed who among the following as its chief
executive officer and managing director, effective
179. Who among the following was appointed as a April 1 2025?
full-time member of the Economic Advisory Council a. Shibashish Roy
to the Prime Minister (EAC-PM) in the rank of b. Gaurav Gupta
secretary, after previously serving as the chief of c. Yogesh Agrawal
the Enforcement Directorate (ED), in March 2025? d. Ramandeep Singh
a. Ajay Bhushan Pandey e. J. Suresh
b. Ramesh Chand
c. Sanjay Kumar Mishra 185. Who was honored with the Icon of Excellence
d. Krishnamurthy Subramanian award at the 14th Forbes India Leadership Awards
e. Hasmukh Adhia FILA 2025, in recognition of his contributions to
cricket administration and global expansion of the
180. Who became the first Indian full-time director sport, in March 2025?
of Maruti Suzuki India Limited (MSIL) after being a. N. Srinivasan
nominated by Suzuki Motor Corporation (SMC), with b. Sourav Ganguly
his tenure set to run from April 1, 2025, to March c. Shashank Manohar
31, 2028, in March 2025? d. Anurag Thakur
a. R C Bhargava e. Jay Shah
b. Sunil Kakkar
c. Kenichi Ayukawa 186. Who among the following was honored with
d. Rahul Bhave the Lifetime Achievement in Hospitality and
e. Rajesh Kumar Singh Education Through Technology award by Union
Tourism Minister Gajendra Shekhawat at the
181. In March 2025, Who was sworn in as the first Vibrant Bharat Global Summit for contributions to
woman president of Namibia, succeeding 83-year-

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integrating technology with hospitality education in at the Vienna University of Technology, in March
March 2025? 2025?
a. Ranvir Bhandari a. Andrea Rinaldo
b. Priya Paul b. Taikan Oki
c. Ritesh Agarwal c. John Cherry
d. Sanjay Jhunjhunwala d. Gnter Blschl
e. Suborno Bose e. Wilfried Brutsaert

187. The IIFA Awards 2025 celebrated its silver 191. NITI Aayogs report From Borrowers to
jubilee edition in Jaipur on March 8 and 9, that Builders: Womens Role in Indias Financial Growth
honored outstanding achievements in Indian Story highlights the increasing financial participation
cinema, including OTT films and series. Which of the of women in March 2025. Which of the following
following statements are/is correct regarding the statements is/are correct? I. Womens share of the
IIFA Awards 2025? I. Kartik Aaryan won Best Actor self-monitoring base increased from 17.89% in
for Bhool Bhulaiyaa 3. II. Laapataa Ladies won Best 2023 to 19.43% in 2024. II. Women in non-metro
Picture and Best Director. III. Shreya Ghoshal won regions showed 48% growth in self-monitoring,
Best Singer (Female) for Dua. compared to 30% in metro areas. III. The report
a. I only has been published by Home Ministry, Women
b. II only Entrepreneurship Platforms (WEP) of NITI Aayog
c. III only and MicroSave Consulting (MSC).
d. I and II only a. I and II only
e. I, II, and III b. II only
c. II and III only
188. The International Indian Film Academy (IIFA) d. I and III only
Awards has completed _________________ this e. I, II, and III
year and was celebrated in Jaipur on March 8,
2025, recognizing the best talents in the field of 192. As per the latest Global Wealth report by
OTT cinemas and series, and the best film awards. Knight Frank released in in march 2025, what is the
a. 25 years ranked of India globally in the number of High Net-
b. 75 years Worth Individuals (HNWIs), with a population of
c. 12 years 85,698 individuals having at least US$1 million in
d. 55 years investable assets?
e. 20 years a. 2nd
b. 7th
189. Muthoot Microfin won two Gold Awards at the c. 6th
SKOCH Awards 2025 for its contributions to digital d. 4th
financial inclusion and insurance solutions. Which of e. 1st
the following statements are/is correct regarding
this? I. Muthoot Microfin won the Corporate 193. Which Indian insurance company was ranked
Excellence Award for its Mahila Mitra initiative. II. as the third strongest insurance brand globally with
The BFSI Award was given for the Griha Raksha a Brand Strength Index (BSI) score of 88 out of
Insurance Scheme, covering 2.66 million 100, as per the Brand Finance Insurance 100
beneficiaries. III. The SKOCH Awards recognize Report in March 2025?
excellence in financial services and social a. ICICI Lombard General Insurance
empowerment. b. HDFC Life Insurance
a. I and II only c. SBI Life Insurance
b. I only d. Bajaj Allianz Life Insurance
c. II and III only e. Life Insurance Corporation of India
d. I and III only
e. I, II, and III 194. Which of the following payment apps became
the fifth-largest UPI player in India, surpassing
190. Who among the following was awarded the CRED by recording approximately 139 million UPI
2025 Stockholm Water Prize for his pioneering work transactions in February 2025, according to NPCI
in flood hydrology and water resource management, data released in March 2025?
having led groundbreaking research on flood risks a. Navi
under climate change while serving as a professor b. PhonePe
c. Super.money

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d. Paytm a. To protect everyones health, protect everyones

e. WhatsApp Pay rights
b. Save lives: Decriminalise
195. According to NPCI data released in March c. Zero Discrimination Against Women and Girls
2025, which of the following UPI platforms held the d. We stand together
largest share of transaction volume at 47.5%, e. End Inequalities
maintaining its position as the market leader?
a. Navi 200. Which among the following day is celebrated
b. PhonePe as the World Seagrass Day every year?
c. Super.money a. 14th April
d. Paytm b. 1st March
e. WhatsApp Pay c. 31st January
d. 23rd August
196. The World Happiness Report 2025 ranks e. 8th September
countries based on self-evaluation surveys
conducted by the Wellbeing Research Centre at the 201. On which date is World Wildlife Day 2025
University of Oxford, alongside Gallup and the UN observed, commemorating the adoption of the
Sustainable Development Solutions Network. Which Convention on International Trade in Endangered
of the following statements are/is correct regarding Species of Wild Fauna and Flora (CITES) and
this? I. Finland has been ranked the world's highlighting the theme "Wildlife Conservation
happiest country for the eighth consecutive year. II. Finance: Investing in People and Planet"?
Costa Rica and Mexico entered the top 10 for the a. September 19
first time in 2025. III. Afghanistan has been ranked b. February 27
as the world's unhappiest country. c. March 3
a. I and II only d. May 9
b. I and III only e. March 17
c. II and III only
d. I, II, and III 202. On which date is the International Day for
e. III only Disarmament and Non-Proliferation Awareness
observed to promote global understanding of
197. According to the World Happiness Report 2025 disarmament efforts and their role in enhancing
released in March 2025, identify the country that peace and security ?
has a higher ranking than India, as determined a. February 1
through self-evaluation surveys where individuals b. January 3
rated their own lives. c. March 5
a. Nepal d. June 7
b. Pakistan e. April 10
c. China
d. Mexico 203. Which United Nations-recognized observance,
e. All of these established through a General Assembly resolution
drafted by the State of Qatar, aims to highlight the
198. Which edition of the 'Secretariat Reforms' importance of gender equality in the judiciary,
Monthly Report was released by the Department of inspire future generations of female judges, and is
Administrative Reforms and Public Grievances commemorated annually on March 10?
(DARPG) under the Ministry of Personnel, Public a. International Day of Legal Equity
Grievances and Pensions, in March 2025? b. World Judicial Integrity Day
a. 15th Edition c. International Day of Women Judges
b. 18th Edition d. Global Forum on Women in Law
c. 19th Edition e. UN Gender Justice Awareness Day
d. 20th Edition
e. 21st Edition 204. Which of the following date ranges has been
designated for the 5th Digital Payments Awareness
199. Every year, March 1 marks Zero Discrimination Week (DPAW), an RBI initiative aimed at promoting
Day, a global initiative championing equality, safe and inclusive digital transactions?
inclusivity and diversity. The Zero Discrimination a. March 1 to March 7, 2025
Days theme for the year 2025 is? b. March 5 to March 11, 2025
c. March 10 to March 16, 2025

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d. March 15 to March 21, 2025 e. International Cultural Heritage Council

e. March 20 to March 26, 2025
210. Which international observance, officially
205. On which date is CISF Raising Day observed declared by the UN General Assembly in December
annually to recognize the contributions of the 2011, aims to raise awareness about a genetic
Central Industrial Security Force in safeguarding condition affecting approximately 1 in 1,000 to
key government and private sector establishments, 1,100 live births worldwide, in March 2025?
including airports, atomic energy plants, and metro a. World Down Syndrome Day
networks? b. World Autism Awareness Day
a. January 5 c. International Day of Persons with Disabilities
b. March 10 d. Global Rare Disease Day
c. September 13 e. International Genetic Disorders Day
d. December 15
e. July 20 211. On which date is the International Day of
Forests, established by the United Nations General
206. World Consumer Rights Day, observed Assembly in 2012 to highlight the critical role of
annually on March 15, serves as an essential forests in climate regulation, biodiversity
reminder of the need to uphold consumer rights and conservation, and human well-being?
protection. World Consumer Rights Day was first a. 18 June
observed in? b. 30 July
a. 1971 c. 12 April
b. 1983 d. 21 March
c. 1965 e. 22 January
d. 1985
e. 1991 212. Which global awareness event, launched by
the "Nature Forever" organization in 2010 to
207. On which date is the International Day to address the rapid decline of a small bird species, is
Combat Islamophobia observed, as designated by observed across more than 50 countries, including
the United Nations General Assembly through a India, where the bird was declared Delhis state bird
resolution sponsored by 60 Member-States of the in 2012, in March 2025?
Organization of Islamic Cooperation? a. Global Avian Protection Day
a. 10 January b. World Sparrow Day
b. 12 May c. World Sparrow Awareness Initiative
c. 15 March d. International House Bird Conservation Day
d. 18 April e. Endangered Species Protection Day
e. 21 September
213. On which date is the International Day of
208. Which date is observed as the International Forests observed annually, highlighting the crucial
Day of Happiness, as proclaimed by the United role of forests in climate regulation, biodiversity
Nations General Assembly to recognize happiness conservation, and human well-being, as established
and well-being as universal goals for human beings, by the United Nations General Assembly (UNGA) in
with the 2025 theme being "Caring and Sharing,"? 2012?
a. 18 December a. September 1
b. 19 January b. June 9
c. 20 March c. August 17
d. 21 September d. March 21
e. 22 May e. April 3

209. Which international organization established 214. On which date is World Water Day, an annual
French Language Day in 2010 to promote the United Nations Observance focusing on freshwater
preservation and revitalization of the French preservation and supporting Sustainable
language and culture, celebrated annually on March Development Goal (SDG) 6, celebrated every year?
20, In March 2025? a. 20 April
a. United Nations b. 15 February
b. International Court of Justice c. 22 March
c. International Francophonie Organization d. 18 January
d. World Trade Organization e. 25 May

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215. Which day is observed annually to raise public 220. In March 2025, which of the following global
awareness about the health, social, and economic technology and telecommunications events, themed
impacts of tuberculosis (TB) and to accelerate "Converge. Connect. Create.," was attended by over
efforts to end the global TB epidemic, in March 101,000 participants and featured Indias Bharat
2025? Pavilion, inaugurated by Union Minister Jyotiraditya
a. 22 January M Scindia?
b. 24 March a. India Mobile Congress
c. 18 May b. Consumer Electronics Show
d. 26 April c. Mobile World Congress
e. 20 September d. Global AI & IoT Summit
e. World Telecom Innovation Forum
216. Which observance, proclaimed by the United
Nations General Assembly on 21 December 2010, is 221. India participated in the ___________ session
observed annually on 24 March to honor the of the Commission on the Status of Women (CSW)
memory of victims of human rights violations and to at the United Nations Headquarters in New York,
recognize the contributions of Archbishop Oscar where Union Minister Annpurna Devi engaged in
Arnulfo Romero, in March 2025? bilateral meetings to enhance global cooperation on
a. International Day of Justice gender equality and social welfare in March 2025.
b. International Human Rights Day a. 65th
c. International Day for the Right to the Truth b. 66th
d. World Day Against Torture c. 67th
e. Global Dignity Day d. 68th
e. 69th
217. World Meteorological Day commemorating the
establishment of the World Meteorological 222. In which of the following cities was the 4th 'No
Organization on 23 March 1950, highlights the Money for Terror' (NMFT) Conference held, where
contribution of National Meteorological and India called for stronger global cooperation to
Hydrological Services. Identify the theme of World combat terror financing, highlighted the challenges
Meteorological Day 2025. posed by digital financial technologies, and
a. At the Frontline of Climate Action discussed amendments to anti-money laundering
b. Climate Change and Water laws, in March 2025?
c. Weather-ready, climate-smart a. Geneva
d. The Ocean, Our Climate and Weather b. Munich
e. Closing the early warning gap together" c. Paris
d. Brussels
218. On which date is the International Day of e. Vienna
Remembrance of the Victims of Slavery and the
Transatlantic Slave Trade observed annually to 223. Co-hosted by the Government of India and UN
honor the victims and commemorate the abolition Women, a Ministerial Roundtable was organised
of the Transatlantic Slave Trade? along the sidelines of the 69th session of the
a. 22 February Commission on the Status of Women on 12th
b. 25 March March, 2025. The roundtable witnessed active
c. 18 May participation from Ministers from: I. Indonesia II.
d. 26 April Morocco III. Panama IV. Australia V. Japan
e. 20 September a. I, III and V Only
b. II, IV and V Only
219. On which date is the International Day of c. I, II and IV Only
Solidarity with Detained and Missing Staff Members d. I, II, III, and IV Only
observed annually to commemorate the abduction e. III, IV and V Only
of Alec Collett and honor UN personnel who have
lost their lives in service? 224. Which edition of Governing Body meeting of
a. 25 March the International Labour Organisation (ILO) is being
b. 25 January held in Geneva, Switzerland, from March 10 to
c. 18 May March 20, 2025?
d. 26 April a. 355th
e. 20 December b. 353rd

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c. 352nd in 6G design, development, and deployment. Which

d. 364th of the following statements are/is incorrect
e. 359th regarding Indias 6G Spectrum Technology? I. 6G
technology is expected to be available by 2025. II.
225. Who among the following Union Ministers Bharat 6G Vision focuses only on affordability. III.
inaugurated the India Innovation Summit Bharat 6G Alliance is led solely by government
Pioneering Solutions to End TB, organized by the institutions.
Department of Health Research-ICMR and the a. I and II only
Central TB Division, to accelerate India's goal of TB b. II and III only
elimination by 2025, in March 2025? c. I and III only
a. Mansukh Mandaviya d. I, II, and III
b. Bharati Pravin Pawar e. III only
c. Ashwini Vaishnaw
d. Anupriya Patel 229. On March 14, 2025, ISRO successfully
e. Jitendra Singh conducted the flight acceptance hot testing of the
CE20 cryogenic engine for the sixth operational
226. India will host the third Central Asian Youth mission of the LVM3 launch vehicle at which facility?
Delegation from 22nd to 28th March 2025 under the a. Vikram Sarabhai Space Centre (VSSC)
International Youth Exchange Programme (IYEP). b. Satish Dhawan Space Centre (SDSC)
The initiative aims to promote youth collaboration, c. ISRO Propulsion Complex (IPRC)
cultural exchange, and diplomatic ties between d. Liquid Propulsion Systems Centre (LPSC)
India and five Central Asian nations. Which of the e. Space Applications Centre (SAC)
following statements are correct? I. The delegation
will visit historical sites such as the Taj Mahal and 230. In March 2025, SpaceX and NASA have
Agra Fort. II. The program includes academic launched a mission to bring back US astronauts
engagement at IIT Delhi and industry visits in Goa. Sunita Williams and Butch Wilmore from the
III. Delegates will have high-level diplomatic International Space Station (ISS), which spacecraft
meetings with Indias External Affairs Minister and is being used in the Crew-10 mission to bring back
Goas Chief Minister. Sunita Williams and Butch Wilmore from the ISS?
a. II only a. Orion
b. I only b. Soyuz
c. II and III only c. Dragon
d. I and III only d. Starliner
e. I, II, and III e. New Shepard

227. As per a 2025 Bain & Company report, Indias 231. In March 2025, The Department of
pharmaceutical exports ranked 11th globally in Telecommunications (DoT) has announced the 5G
2023, contributing 3% of global pharmaceutical Innovation Hackathon 2025, a six-month initiative
exports. Which of the following statements are/is aimed at accelerating the development of
correct regarding India's pharmaceutical innovative 5G-powered solutions to address societal
regulations? I. CDSCO conducted 905 risk-based and industrial challenges. Which of the following
inspections since December 2022. II. Drug statements are/is correct? I. Hackathon focuses on
manufacturers with over Rs. 550 crore turnover AI, IoT, and quantum communication. II.
must follow revised Schedule M from June 2024. Hackathon's total prize pool exceeds Rs. 10 lakh.
III. CDSCO, in collaboration with State regulators, III. The programme supported by Rs. 1.5 crore
initiated risk-based inspections of drug budget, covers seed funding, IPR assistance,
manufacturing. mentorship, and operational costs.
a. I and II only a. I Only
b. II and III only b. I and III Only
c. I and III only c. II Only
d. I, II, and III d. I, II and III
e. III only e. III Only

228. The 6G Spectrum Technology is currently 232. Which of the following initiatives, launched by
under development and is expected to be available IndiaAI in collaboration with the Geological Survey
by 2030. The Bharat 6G Vision was launched on of India (GSI), Ministry of Mines, aims to modernize
March 23, 2023, aiming to position India as a leader mineral targeting by utilizing AI and ML

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technologies to analyze multi-parametric geoscience a. MILAN

datasets, in March 2025? b. INDRA NAVY
a. IndiaAI Mineral Discovery Challenge c. SIMBEX
b. Digital India GeoInnovation Program d. VARUNA
c. IndiaAI Hackathon on Mineral Targeting e. PASSEX
d. National AI Geoscience Initiative
e. Smart Mining and AI Exploration Project 238. Which two Indian naval ships were diverted
from their ongoing deployment to carry out a
233. Which among the following is set to launch the critical MEDEVAC operation for injured crew
first human spaceflight directly over Earth's polar members aboard the Panama-flagged bulk carrier
regions- a days-long, privately funded orbital MV Heilan Star, located 230 nautical miles west of
mission involving four astronauts, in March 2025? Goa, in March 2025?
a. NASA a. INS Shivalik and INS Tarkash
b. JAXA b. INS Vikrant and INS Deepak
c. SpaceX c. INS Chennai and INS Kolkata
d. Orbital d. INS Sahyadri and INS Talwar
e. ISRO e. INS Satpura and INS Betwa

234. An integrated Tri-Service Special Forces 239. The Ministry of Defence (MoD) signed
exercise named Exercise Desert Hunt 2025 was contracts worth Rs _______________ crore for the
conducted by the Indian Air Force at Air Force procurement of the NAMIS Tracked version of the
Station ________________ from 24 to 28 February anti-tank weapon platform and 5,000 Light Vehicles
2025. to enhance mobility and combat capabilities in
a. Gorakhpur March 2025.
b. Agra a. 1,500
c. Jodhpur b. 2,000
d. Nagpur c. 2,500
e. Amritsar d. 3,000
e. 3,500
235. The Ministry of Defence has signed a contract
with. Rosoboronexport (RoE), Russian Federation 240. The 14th edition of the Indian - Russia
worth_______________ for procurement of 1000 bilateral naval exercise named __________, a
HP Engines for T-72 Tanks in fully formed, cornerstone of the enduring maritime partnership
completely knocked down and semi knocked down between India and Russia, is set to take place off
conditions, in March 2025. Chennai from 28 Mar to 02 Apr 25.
a. $ 248 million a. INDRA
b. $ 538 million b. VARUNA
c. $ 156 million c. Malabar
d. $ 366 million d. MILAN
e. $ 100 million e. Sea Dragon

236. In March 2025, the India-Bangladesh Naval 241. The Ministry of Defence (MoD) signed two
Exercise Bongosagar 2025 and Coordinated Patrol contracts with Hindustan Aeronautics Ltd (HAL) for
was conducted in Bay of Bengal. Which among the supplying _____________ Prachand light combat
following INS from India has participated in this helicopters (LCHs), along with training and
exercise? associated equipment, at a cost of Rs. 62,700 crore,
a. INS Rajput excluding taxes, in March 2025.
b. INS Mysore a. 120
c. INS Kochi b. 140
d. INS Trishul c. 156
e. INS Ranvir d. 175
e. 200
237. Which of the following bilateral naval exercises
between India and France commenced its 23rd 242. The Indian Air Force (IAF) has participated in
edition featuring joint participation of aircraft Exercise INIOCHOS-25, a prestigious multi-national
carriers Vikrant and Charles de Gaulle, along with air exercise hosted by the Hellenic Air Force, the
fighter aircraft and destroyers, in March 2025? exercise will take place at Andravida Air Base,

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______________, from 31 March 2025 to 11 April literacy rate for the same age group stood at
2025. 73.0%.
a. USA a. 59.1%
b. Brazil b. 64.8%
c. Greece c. 68.5%
d. Russia d. 73.0%
e. Japan e. 79.5%

243. On which nationally significant occasion, 248. Which foreign dignitary, accompanied by
observed in March 2025, was the book "The Life RAdm Garin Golding, Chief of Navy, Royal New
and Contributions of the Women Members of the Zealand Navy (CN-RNZN), visited INS Suratthe
Constituent Assembly" formally released, latest indigenous guided missile destroyer of the
highlighting the pivotal role of fifteen distinguished Indian Navyat Naval Dockyard, Mumbai, In March
women in shaping Indias Constitution? 2025?
a. National Civic Rights Awareness Day a. Anthony Albanese
b. International Womens Day b. Rishi Sunak
c. Founding Mothers Legislative Tribute Day c. Justin Trudeau
d. Indian Constitution Drafting Memorial Day d. Fumio Kishida
e. Rashtriya Samvidhan Nari Gaurav Diwas e. Christopher Luxon

244. Who is the author of the nonfiction book titled 249. Which veteran politician, who served as the
"Everything Is Tuberculosis: The History and Higher Education and Industries Minister of Odisha
Persistence of Our Deadliest Infection," which and was a four-time MLA from Bhograi
marks his second nonfiction work, In March 2025? constituency, passed away in Bhubaneshwar at the
a. Hank Green age of 85, in March 2025?
b. John Green a. Prasanna Acharya
c. Nicholas Sparks b. Ananta Das
d. Stephen Chbosky c. Damodar Rout
e. Markus Zusak d. Debi Prasad Mishra
e. Vikram Das
245. Who among the following chaired the two-day
Election Commission of India conference held at 250. Who among the following, a renowned
IIIDEM, New Delhi, where Chief Electoral Officers modernist Odia poet and former Chief Secretary of
(CEOs) from all States and UTs were directed to Odisha, was awarded the Padma Bhushan in 2006
work transparently within the statutory framework for his contributions to literature Passed away at the
of the RP Act 1950 & 1951, in March 2025? age of 91 in March 2025?
a. Dr. Sukhbir Singh Sandhu a. Sitakant Mahapatra
b. Dr. Vivek Joshi b. Jayanta Mahapatra
c. Gyanesh Kumar c. Ramakanta Rath
d. Rajiv Kumar d. Debi Prasanna Pattanayak
e. Sunil Arora e. Hara Prasad Das

246. Who among the following was announced as 251. Identify the name of the campaign launched
the global ambassador of Levis, becoming the first by PhonePe ahead of the International Womens Day
Punjabi artist to join the brands creative that is observed every year on March 8, offering
community, reflecting its legacy of self-expression exclusive discounts of up to 30 percent, specifically
and cultural influence in March 2025? for women, on select term life and health insurance
a. AP Dhillon plans.
b. Diljit Dosanjh a. Karte Ja. Badhte Ja
c. Guru Randhawa b. Insuring Womens
d. Badshah c. Insuring HEROES
e. Jazzy B d. More Together girls
e. Empowering Girls
247. As per Census 2011, the literacy rate among
Muslims aged 7 years and above was recorded at 252. SBI Life Insurance launched two child
________, reflecting a 9.4 percentage point insurance plans: 'SBI Life - Smart Future Star' and
increase from Census 2001, while the all-India 'SBI Life - Smart Platina Young Achiever' that offer

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financial security through maturity benefits, flexible Malaysia, with the goal of enhancing digital
payouts etc in March 2025. Which of the following payment infrastructure, reducing cross-border
statements about these plans are/is correct? I. transaction costs by 40%, and introducing AI-driven
Smart Future Star is a participating life insurance financial solutions, in March 2025?
plan. II. Smart Platina Young Achiever offers a. Thailand
guaranteed risk-free savings. III. One plan include a b. Vietnam
Waiver of Premium benefit. c. Indonesia
a. I and II only d. Singapore
b. II and III only e. Philippines
c. I and III only
d. I, II, and III 257. Which of the following awards, the highest
e. III only civilian honor of Mauritius, was conferred upon
Prime Minister Narendra Modi by President
253. The Insurance Regulatory and Development Dharambeer Gokhool during the 57th National Day
Authority of India (IRDAI) is setting new standards celebrations of the Republic of Mauritius, making
for health insurance, mandating quicker and more him the first Indian leader to receive this
efficient claim settlements to benefit policyholders recognition, in March 2025?
in March 2025. Identify the Correct Statement(s) a. Order of the Rising Sun
regarding this. I. Insurers must approve cashless b. Grand Cross of the National Order of Merit
authorization requests within Two hours. II. The c. Grand Commander of the Order of the Star and
IRDAI mandates that no claim can be rejected Key of the Indian Ocean
without PMC or CRC approval. III. Insurers are d. Order of the African Star
required to fully implement these rules by July 31, e. Grand Collar of the Order of the Indian Ocean
2024.
a. I and II only 258. The 1st Joint Working Group (JWG) meeting
b. II and III only on Agriculture was held between India and which
c. I and III only among the following country, on 12th March 2025
d. I, II, and III in virtualmode.
e. II only a. Nigeria
b. Japan
254. Which country signed a Memorandum of c. Brazil
Understanding (MoU) with India to enhance d. Chile
cooperation in the Water, Sanitation, and Hygiene e. Nepal
(WASH) sector, including waste management,
groundwater monitoring, and technology transfer, 259. Which of the following countries is
in March 2025? collaborating with India to enhance digital
a. Bangladesh payments, boost two-way trade and investment,
b. Sri Lanka and has signed multiple agreements, including
c. Nepal cooperation in horticulture, forestry, and
d. Bhutan earthquake mitigation, during a Prime Ministerial
e. Maldives visit, in March 2025?
a. New Zealand
255. Which Australian university, recognized as a b. Australia
global leader in sports science and education, c. Canada
actively participated in the Australia-India Sports d. United Kingdom
Excellence Forum held at GIFT City, Gujarat, e. Singapore
contributing to discussions on the role of higher
education institutions in shaping elite sports 260. Reserve Bank of India (RBI) and which of the
performance, in March 2025? following countries bank have signed a pact for
a. University of Sydney establishing a framework to promote the use of the
b. Monash University Indian Rupee and its country currency for cross-
c. Deakin University border transactions, in March 2025?
d. University of Melbourne a. Sri Lanka
e. Australian National University b. Pakistan
c. Nepal
256. Which Southeast Asian country did Razorpay d. Maldives
expand into, marking its second regional entry after e. Mauritius

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a. Japan
261. Which country agreed to enhance cooperation b. South Korea
and interoperability across maritime, land, and air c. Canada
domains with another nation during the 9th Defence d. Maldives
Policy Talks held in New Delhi, focusing on maritime e. U.S.A
domain awareness, reciprocal information sharing,
industry collaboration, and technology exchanges, 266. NITI Aayog launched the second edition of
in March 2025? "Trade Watch Quarterly" on March 28, 2025,
a. France analyzing India's trade position and highlighting key
b. Australia trends in exports and imports. Which of the
c. Japan following statements are/is correct regarding this?
d. United Kingdom I. Indias total trade grew by 5.67% in
e. Israel AprilSeptember 2024. II. Copper imports increased
by 28% due to infrastructure demand. III. India
262. In March 2025, in a significant boost to India's holds a 10% share in global textile trade.
agricultural exports, a consignment of 30 metric a. I and II only
tons (MT) of GI-tagged jaggery, was flagged off for b. II and III only
export to Bangladesh. Jaggery is a GI-tagged c. I and III only
product from which district of Uttar Pradesh?" d. I, II, and III
a. Saharanpur e. II only
b. Bareilly
c. Varanasi 267. In the aftermath of the devastating
d. Gorakhpur earthquake in Myanmar and Thailand on 28 Mar
e. Muzaffarnagar 2025, the Government of India has launched which
among the following operation for rendering
263. Mizoram achieved a milestone in floriculture assistance to Myanmar?
exports with its first-ever consignment of Anthurium a. AJAY
flowers sent to Singapore, in March 2025. Which of b. Sankat Mochan
the following statements are/is correct regarding c. Raahat
this? I. The shipment contained 1,024 Anthurium d. Brahma
flowers packed in 50 corrugated boxes. II. IVC e. Maitri
Agrovet Pvt. Ltd. managed the export process via
Kolkata. III. An International Buyer-Seller Meet in 268. The Ministry of Jal Shakti, along with the
December 2024 helped facilitate this export. Ministry of Environment, Forest & Climate Change
a. II only and the Government of Haryana, will launch Jal
b. III only Shakti Abhiyan: Catch the Rain - 2025 on 22nd
c. II and III only March 2025. Which of the following statements
d. I and III only are/is correct regarding this? I. The initiative will
e. I, II, and III focus on 178 districts across the country. II. The
event includes the Mukhyamantri Jan Jatiyan
264. Which two countries signed a Letter of Intent Abhiyan. III. The campaign theme is Peoples' Action
(LOI) to cooperate on maritime digitalisation and for Water Conservation - Towards Intensified
decarbonisation, aiming to establish a Green and Community Connect.
Digital Shipping Corridor (GDSC) through a future a. II only
memorandum of understanding, in March 2025? b. III only
a. Japan and Singapore c. II and III only
b. Singapore and the United States d. I and III only
c. Singapore and South Korea e. I, II, and III
d. Singapore and the United Kingdom
e. Singapore and India 269. In March 2025, Union Minister Ashwini
Vaishnaw marked a major milestone in Indias AI
265. Which Country financial institution facilitated journey with the launch of several key initiatives
loan agreements worth 191.736 billion in foreign under the IndiaAI Mission during its anniversary
currency for six development projects, including celebration in New Delhi. Identify the Correct
urban transport and water supply, under the Official statement(s) regarding this. I. Union Minister has
Development Assistance (ODA) framework, in launched AIKosha: IndiaAI Datasets Platform to
March 2025? provide a unified portal for seamless access to

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datasets, tools and AI models. II. In collaboration e. Financial Stability and Development Council
with STATION F and HEC Paris, the IndiaAI Mission
will launch an acceleration program for Indian AI 273. Which of the following companies received
startups. III. The competency framework aims to approval from the Competition Commission of India
equip public sector officials with skills related to AI (CCI) for acquiring equity shares of PSP Projects
competency mapping, and upskilling initiatives. Limited through an initial acquisition from
a. II only Prahaladbhai S. Patel and an open offer to public
b. I and II only shareholders, resulting in equal shareholding with
c. II and III only the existing promoters, in March 2025?
d. I and III only a. Shapoorji Pallonji Infra
e. I, II, and III b. Hindustan Construction Company
c. Megha Engineering & Infrastructure
270. The Minister of Finance and Corporate Affairs d. JMC Projects
Nirmala Sitharaman launched a dedicated mobile e. Adani Infra India
app for the Prime Minister's Internship Scheme on
17th March 2025 in the presence of MoS Corporate 274. Which of the following cement manufacturers
Affairs, and MoS Road and Transport Harsh received approval from the Competition Commission
Malhotra. Identify the Correct Statement(s) of India to acquire up to 72.8% shareholding in
regarding the features of this app. I. Real time Orient Cement Limited, a company with
alerts to keep candidates abreast of new updates. manufacturing facilities in Telangana, Karnataka,
II. No Need of registration through Aadhaar face and Maharashtra, in March 2025?
authentication. III. Access to a dedicated support a. Nuvoco Vistas Corporation
team. b. Ambuja Cements
a. I and II only c. JK Lakshmi Cement
b. II and III only d. HeidelbergCement India
c. I and III only e. India Cements
d. I, II, and III
e. I only 275. Which multinational energy company received
approval from the Competition Commission of India
271. In March 2025, The Competition Commission (CCI) to acquire 100% equity share capital of Raj
of India (CCI) released draft regulations on cost Petro Specialities Private Limited, thereby
determination in predatory pricing cases under the expanding its footprint in the petrochemicals sector
Competition Act, 2002. Which of the following in March 2025?
statements is/are correct regarding this? I. The new a. ExxonMobil Corporation
draft regulations introduce "average total cost b. TotalEnergies SE
(ATC)" as a key metric for assessing predatory c. Shell Deutschland GmbH
pricing. II. CCI will always use average total cost d. Chevron Corporation
(ATC) as the sole measure for cost assessment. III. e. BP Plc
Enterprises disputing cost determination may
request an independent expert review at their own 276. As per the recent CCI approval in March 2025,
expense. Hindustan Unilever Limited (HUL) will acquire what
a. I only percentage of Uprising Science Private Limited's
b. I and II only shareholding initially?
c. II and III only a. 90.5%
d. I and III only b. 100%
e. I, II, and III c. 80%
d. 75%
272. Which regulatory body granted approval for e. 50.5%
the proposed acquisition of a certain shareholding in
Schott Poonawalla Private Limited (SPPL) by TPG 277. The Competition Commission of India has
Scion SG Pte. Ltd., a subsidiary of the TPG Group, approved the proposed acquisition of 100%
in March 2025? shareholding of O2 Power Midco Holdings Pte. Ltd.
a. National Company Law Tribunal and O2 Energy SG Pte. Ltd. by JSW Neo Energy
b. Competition Commission of India Limited in March 2025. JSW Neo Energy Limited is a
c. Department for Promotion of Industry and wholly owned subsidiary of which listed company?
Internal Trade a. JSW Group
d. Securities Appellate Tribunal b. O2 Midco Holdings

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c. JSW Energy Limited a. National Investment and Infrastructure Fund

d. JSW Power Transmission Limited b. Cube Highways Trust
e. None of these c. India Infrastructure Finance Company Limited
d. Brookfield Asset Management
278. Which of the following companies sold its 26% e. Kotak Infrastructure Investment Fund
stake in Bajaj Allianz General Insurance Company
and Bajaj Allianz Life Insurance Company to Bajaj 283. Which entity received Competition Commission
Finserv, marking the end of a 24-year-old of India (CCI) approval for acquiring multiple road
partnership, in March 2025? assets of the Ashoka Buildcon Group, including
a. Zurich Insurance Group Ashoka Dhankuni Kharagpur Tollway Limited and
b. Prudential Financial Ashoka Sambalpur Baragarh Tollway Limited, as
c. Allianz SE part of a larger infrastructure investment strategy,
d. AXA Group in March 2025?
e. MetLife Inc. a. Ontario Teachers' Pension Plan Board
b. Macquarie Asset Management
279. The Defence Acquisition Council (DAC), chaired c. Maple Infrastructure Trust
by Raksha Mantri Rajnath Singh, approved d. Mubadala Investment Company
Acceptance of Necessity (AoN) for eight capital e. Blackstone Infrastructure Partners
acquisition proposals amounting to over
___________, aimed at enhancing the operational 284. Which company, through its wholly owned
capabilities of the Indian Armed Forces in March subsidiary, acquired 100% equity stake in Nauyaan
2025. Tradings Private Limited (NTPL) and is set to
a. Rs 10,000 crore acquire a 74% stake in Nauyaan Shipyard Private
b. Rs 44,000 crore Limited (NSPL) for Rs. 382.73 crore, in March 2025?
c. Rs 50,000 crore a. Tata Sons
d. Rs 65,000 crore b. Larsen & Toubro
e. Rs 54,000 crore c. Reliance Industries Limited
d. Adani Group
280. Which of the following companies received e. Mahindra & Mahindra
Competition Commission of India (CCI) approval to
acquire an additional 10% stake in Tata Play from 285. Which Hyderabad-based billing software
Baytree Investments (Mauritius) Pte Ltd, increasing provider was acquired by fintech SaaS company
its ownership beyond 60%, in March 2025? Zaggle Prepaid Ocean Services Ltd for a 51%
a. Temasek Holdings controlling stake at a valuation of Rs. 81 crore, in
b. Tata Sons March 2025?
c. Reliance Industries a. Pine Labs
d. Bharti Enterprises b. RazorpayX
e. Aditya Birla Group c. EffiaSoft Private Ltd
d. PayU India
281. Which global private investment firm acquired e. ToneTag
joint control in Manappuram Finance by investing
Rs. 4,385 crore through its affiliates, with the 286. As per the recent press release by the Aditya
potential to increase its stake up to 41.7%, in Birla Capital, the amalgamation of Aditya Birla
March 2025? Finance Ltd (ABFL) with its parent Aditya Birla
a. Blackstone Group Capital Ltd (ABCL) with effect from ____________,
b. Carlyle Group will lead to rationalisation and simplification of
c. Bain Capital group structure, improved financial stability, and
d. KKR & Co. increased operational efficiency, according to ABCL.
e. Apollo Global Management a. March 31, 2026
b. October 1, 2025
282. Which entity received approval from the c. April 1, 2025
Competition Commission of India (CCI) to acquire d. August 31, 2025
Athaang Devanahalli Tollway Private Limited, e. January 1, 2026
Athaang Jammu Udhampur Highway Private
Limited, and Quazigund Expressway Private Limited, 287. Which organization played a key role in
marking a significant investment in India's showcasing Indias agricultural and processed food
infrastructure sector, in March 2025? excellence by facilitating the participation of 95

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exhibitors, including Farmer Producer Organizations

(FPOs) and manufacturing companies from 17 292. Which public sector company achieved its
states and Union Territories, at the 39th edition of best-ever February production of 1.53 lakh tonnes
AAHAR 2025 held in New Delhi, in March 2025? of manganese ore, along with a record exploratory
a. FSSAI core drilling of 11,455 meters, reflecting a 43
b. NABARD percent growth over CPLY, in March 2025?
c. APEDA a. NMDC
d. ITPO b. MOIL
e. NITI Aayog c. Hindustan Zinc Limited
d. Vedanta Resources
288. As per Official Notification in March 2025, The e. Steel Authority of India Limited
Government of India has withdrawn __________
duty on onion export, effective from 1st April, 2025, 293. Which public sector undertakings (PSUs) under
that was issued by the Department of Revenue on the Ministry of Railways were granted 'Navratna'
the communication of Department of Consumer status by the Government of India, allowing them
Affairs. to invest up to Rs 1,000 crore or 15% of their net
a. 10 worth in a single project without prior government
b. 15 approval in March 2025?
c. 20 a. IRCTC and IRFC
d. 25 b. RITES and RVNL
e. 30 c. CONCOR and RailTel
d. IRCON and DFCCIL
289. Which Indian beverage, rebranded for global e. BHEL and NTPC
markets, was showcased at the International Food
& Drink Event (IFE) London 2025 with the support 294. State-owned gas utility GAIL (India) Ltd is set
of APEDA, marking its international resurgence, in to commence LNG imports from Qatar Energy
March 2025? Trading starting next month under a five-year
a. Banta Cola contract that will see the company receiving 12
b. Goli Pop Soda cargoes annually. The company has signed a
c. Frooti Classic ___________ agreement with commodity trader
d. Nimbu Masala Spark Vitol Asia for approximately 1 million tonnes per
e. Kesar Badam Fizz annum (MTPA) of LNG, starting from 2026.
a. 10-year
290. The Union Cabinet has approved the Nutrient b. 1-year
Based Subsidy (NBS) rates for Kharif 2025 to c. 14-year
ensure the availability of Phosphatic and Potassic d. 12-year
(P&K) fertilizers at subsidized prices. Which of the e. 8-year
following statements is/are correct regarding this?
I. The subsidy applies to Phosphatic and Potassic 295. In March 2025, The Indian government has
(P&K) fertilizers. II. The budgetary requirement for constituted an inter-ministerial committee to
Kharif season 2024 would be approximately Rs. address challenges faced by the countrys rapidly
37,216.15 cr. III. The NBS Scheme was launched in growing fintech sector, set up by the Department of
2015. Financial Services, includes representatives from
a. I and II only key government bodies, as well as regulatory
b. II and III only authorities. who among the following is included in
c. I and III only this committee?
d. I, II, and III a. Lalit Keshre
e. I only b. Jitendra Gupta
c. Varun Dua
291. Which among the following PSU has achieved d. Ajay Kaushal
its fastest-ever generation of 400 Billion Units (BU) e. All of these
on March 1, 2025, in the FY24-25?
a. BHEL 296. Who chaired the 8th State Level Coordination
b. NTPC Committee (SLCC) meeting, conducted by the
c. IOCL Reserve Bank of India (RBI) in Sikkim where
d. ONGC discussions focused on the implementation of the
e. None of the Above BUDS Rules under the Banning of Unregulated

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Deposit Schemes (BUDS) Act, 2019, and measures b. 1908

to combat financial frauds reported on Helpline c. 1921
1930? d. 1955
a. Thotngam Jamang e. 1969
b. Shaktikanta Das
c. T. Rabi Sankar 301. The Central Council for Research in
d. Ravindra Telang Homoeopathy (CCRH), New Delhi and Adamas
e. Ajay Seth University, Kolkata, have signed a Memorandum of
Understanding (MoU) to foster academic and
297. In March 2025, The Indian Institute of Foreign research collaboration in the field of Homoeopathy,
Trade (IIFT) has signed a MoU with APEC in March 2025. Identify the Director General of
Antwerp/Flanders Port Training Center, Belgium, CCRH.
marking a significant step towards enhancing a. Prof. Suranjan Das
academic collaboration and knowledge exchange in b. Subhash Kaushik
the fields of international trade, logistics, and c. Dr. Samit Ray
supply chain management. In which year IIFT was d. Sir Gregory Paul Winter
established? e. Sahil Sagar
a. 1954
b. 1978 302. During the India Plant-Based Foods Show at
c. 1963 the 39th edition of AAHAR 2025, Identify the APEDA
d. 1949 Chairman, who emphasized the importance of
e. 2000 expanding plant-based food exports as a
sustainable alternative to meet global
298. Sahitya Akademi, Indias premier literary environmental goals and strengthen Indias
institution working under the Ministry of Culture, agricultural and processed food export footprint, in
Government of India, will be organizing its annual March 2025?
Festival of Letters at Rabindra Bhavan in New Delhi a. Amitabh Kant
from 7th March 2025 to 12th March 2025. This b. Abhishek Dev
Festival continue its status as Indias Most Inclusive c. Sanjeev Chopra
Literature Festival since __________. d. Ajay Seth
a. 1997 e. Manoj Ahuja
b. 2000
c. 2005 303. During the 4th NMFT Conference India
d. 1996 advocated that unity amongst nations is essential in
e. 1985 the fight against Terrorism and India stands
steadfast with the global community in this fight as
299. Which of the following international per news by the Minister of State in the Ministry of
agreements, marking its 30th anniversary in 2025, Home Affairs Nityanand Rai in the Rajya Sabha in
is recognized as one of the most progressive and March 2025. India is participating in NMFT
widely endorsed blueprints for advancing women's Conferences since ___________.
and girls' rights, emphasizing legal protection, a. 2015
youth engagement, and social norm transformation b. 2019
in March 2025? c. 2000
a. Convention on the Elimination of All Forms of d. 2008
Discrimination Against Women e. 2018
b. Universal Declaration of Human Rights
c. Beijing Declaration and Platform for Action 304. World Consumer Rights Day, observed
d. International Covenant on Civil and Political annually on March 15, As per Section 38(7) of the
Rights Consumer Protection Act, 2019, what is the
e. United Nations Convention Against Corruption maximum time limit for disposing of a consumer
complaint that requires analysis or testing of
300. Bank of Baroda has launched a specialised commodities?
savings account for women NRIs, becoming the first a. 2 months
Indian public sector bank to offer such a product, in b. 5 months
March 2025. In which year Bank of Baroda was c. 4 months
founded? d. 3 months
a. 1895 e. 6 months

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b. World Social Justice Day

305. Piramal Capital & Housing Finance Limited c. Global Equality and Justice Day
(Piramal Finance) has entered into a strategic co- d. United Nations Anti-Racism Day
lending partnership with Punjab & Sind Bank, aims e. International Day for the Elimination of Racial
to strengthen financial inclusion by offering Discrimination
customised credit solutions at competitive rates,
especially in Tier 2 and Tier 3 cities. Identify the 310. Which global observance, first adopted by
Managing Director of Piramal Finance as of March UNESCO during its 30th General Conference in Paris
2025. in 1999, aims to promote linguistic diversity
a. Sanjiv Chadha through poetic expression and increase awareness
b. Jairam Sridharan of endangered languages?
c. Ramesh Singh a. International Literacy Day
d. Deepak Mittal b. World Poetry Day
e. Ashwini Kumar c. World Book and Copyright Day
d. International Translation Day
306. Meghalaya initiated the scientific mining of e. World Heritage Day
coal at Saryngkham-A block in the Byndihati area of
East Jaintia Hills district after almost a decade of 311. In which year was the Gold Monetisation
ban on rat-hole coal mining imposed by the Scheme (GMS) first introduced by the Government
National Green Tribunal (NGT), in March 2025. In of India to reduce gold imports and mobilize
which year NGT enforced the ban on rat-hole coal household and institutional gold for productive use,
mining? before its Medium Term and Long Term
a. 2010 Government Deposit (MLTGD) components were
b. 2020 discontinued in March 2025?
c. 2019 a. 2014
d. 2014 b. 2012
e. 2012 c. 2015
d. 2018
307. The 23rd edition of the bilateral naval exercise e. 2020
VARUNA, a testament to the enduring maritime
partnership between India and France, is set to take 312. On 25 March is the International Day of
place from 19 to 22 Mar 25. In which year the Remembrance of the Victims of Slavery and the
bilateral naval exercise VARUNA established? Transatlantic Slave Trade observed annually to
a. 2014 honor the victims and commemorate the abolition
b. 2005 of the Transatlantic Slave Trade. In which year the
c. 2010 Abolition of the Slave Trade Act was passed in the
d. 2002 United Kingdom?
e. 2001 a. 2005
b. 1890
308. India and Australia agreed to further deepen c. 1943
cooperation and interoperability across maritime, d. 1807
land and air domains, including working with e. 1998
multilateral partners, in March 2025. The previous
edition of the talks was held in __________. 313. As per the recent report in March 2025, Bank
a. 2020 of India has raised $400 million via a dollar
b. 2022 syndicated loan, marking its first such deal since
c. 2019 _________ that expands a list of the countrys
d. 2015 borrowers tapping global credit markets.
e. 2023 a. 2010
b. 2009
309. Which United Nations observance, c. 2000
commemorating the Sharpeville massacre of 1960, d. 2014
is observed annually to promote racial equality and e. 2012
marks the 60th anniversary of the International
Convention on the Elimination of All Forms of Racial 314. Which procurement scheme, the government
Discrimination (ICERD)? has committed to procuring 100 percent of tur
a. International Human Rights Day (pigeon pea), urad (black gram), and masoor

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(lentils) if prices fall below the MSP for the next four Narendra Modi approved inclusion of Kosi Mechi
years, until 2028-29? Intra-State Link Project of Bihar under Pradhan
a. Price Stabilization Fund Scheme Mantri Krishi Sinchai Yojana Accelerated Irrigation
b. Pradhan Mantri Fasal Bima Yojana Benefits Programme (PMKSY-AIBP) of Ministry of Jal
c. Pradhan Mantri Annadata Aay Sanrakshan Shakti. In which year PMKSY was launched?
Abhiyan a. 2014-15
d. Market Intervention Scheme b. 2011-12
e. Rashtriya Krishi Vikas Yojana c. 2015-16
d. 2018-19
315. Which key principle was reinforced by the e. 2019-20
Supreme Court in its ruling on health insurance
claims, allowing insurers to reject claims related to 317. The 14th edition of the India-Russia bilateral
alcohol-related hospitalizations if the policyholder naval exercise INDRA, a cornerstone of the
failed to disclose their alcoholism, in March 2025? enduring maritime partnership between India and
a. Doctrine of Subrogation Russia, is set to take place off Chennai from March
b. Utmost Good Faith 28 to April 2, 2025. In which year was it initiated?
c. Principle of Indemnity a. 2004
d. Contribution Principle b. 2003
e. Proximate Cause c. 2002
d. 2000
316. In March 2025, The Cabinet Committee on e. 2010
Economic Affairs chaired by the Prime Minister

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General Awareness Questions: Answer Keys [March 2025]

1. a 2. c 3. a 4. e 5. c 6. d 7. b 8. b 9. b 10. b
11. c 12. b 13. b 14. b 15. b 16. c 17. c 18. b 19. d 20. b
21. a 22. a 23. d 24. c 25. a 26. e 27. b 28. b 29. e 30. c
31. d 32. b 33. c 34. c 35. b 36. b 37. b 38. c 39. a 40. d
41. b 42. b 43. c 44. b 45. d 46. b 47. b 48. e 49. a 50. a
51. b 52. c 53. d 54. a 55. c 56. c 57. e 58. c 59. a 60. b
61. c 62. a 63. c 64. c 65. d 66. b 67. e 68. e 69. d 70. d
71. e 72. d 73. c 74. a 75. c 76. a 77. d 78. d 79. a 80. b
81. b 82. a 83. e 84. e 85. c 86. a 87. e 88. c 89. e 90. c
91. d 92. b 93. e 94. d 95. e 96. b 97. b 98. a 99. a 100. a
101. d 102. c 103. d 104. e 105. c 106. c 107. b 108. c 109. b 110. c
111. b 112. c 113. c 114. b 115. d 116. b 117. a 118. d 119. a 120. e
121. b 122. e 123. b 124. b 125. d 126. b 127. b 128. a 129. b 130. d
131. d 132. c 133. c 134. e 135. a 136. c 137. a 138. c 139. b 140. a
141. e 142. e 143. d 144. e 145. a 146. c 147. e 148. d 149. c 150. d
151. c 152. d 153. c 154. c 155. d 156. b 157. b 158. a 159. b 160. c
161. e 162. d 163. b 164. b 165. b 166. a 167. b 168. b 169. e 170. b
171. b 172. b 173. c 174. b 175. b 176. b 177. b 178. b 179. c 180. b
181. d 182. b 183. c 184. a 185. e 186. e 187. d 188. a 189. e 190. d
191. a 192. d 193. e 194. c 195. b 196. d 197. e 198. c 199. d 200. b
201. c 202. c 203. c 204. c 205. b 206. b 207. c 208. c 209. a 210. a
211. d 212. b 213. d 214. c 215. b 216. c 217. e 218. b 219. a 220. c
221. e 222. b 223. d 224. b 225. d 226. e 227. c 228. d 229. c 230. c
231. d 232. c 233. c 234. c 235. a 236. e 237. d 238. b 239. c 240. a
241. c 242. c 243. b 244. b 245. c 246. b 247. c 248. e 249. b 250. c
251. c 252. a 253. b 254. c 255. c 256. d 257. c 258. d 259. a 260. e
261. b 262. e 263. e 264. e 265. a 266. a 267. d 268. b 269. e 270. c
271. d 272. b 273. e 274. b 275. c 276. a 277. c 278. c 279. e 280. b
281. c 282. b 283. c 284. c 285. c 286. c 287. c 288. c 289. b 290. a
291. b 292. b 293. a 294. a 295. e 296. d 297. c 298. e 299. c 300. b
301. b 302. b 303. e 304. b 305. b 306. d 307. e 308. e 309. e 310. b
311. c 312. d 313. e 314. c 315. b 316. c 317. b

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General Awareness Questions: Solutions [March 2025]

1. (a) The RBI has imposed a penalty of Rs 66.6 4. (e) The Securities and Exchange Board of India
lakh on The Hongkong and Shanghai Banking (SEBI) has introduced stricter Key Performance
Corporation Limited for non-compliance with certain Indicator (KPI) disclosures for initial public offers
directions including those related to 'Know Your (IPOs). These new standards, developed in
Customer' and 'Interest Rates on Deposits'. A collaboration with industry associations, aim to
penalty of Rs 33.1 lakh has also been imposed on enhance transparency and provide investors with a
IIFL Samasta Finance Limited for non-compliance clearer understanding of a companys valuation and
with certain provisions of the 'Non-Banking Financial business performance. The guidelines, issued by the
Company - Systemically Important Non-Deposit Industry Standards Forum, mandate unambiguous
taking Company and Deposit taking Company definitions of KPIs, inclusion of non-traditional
(Reserve Bank) Directions, 2016' and Know Your financial metrics relevant to valuation, and
Customer (KYC) Directions. In both cases, RBI said enhanced oversight by the audit committee and
penalties were based on deficiencies in regulatory board of directors. Effective April 1, investment
compliance and is not intended to pronounce upon bankers and issuer companies must comply with
the validity of any transaction or agreement entered these standards, ensuring proper disclosure of KPIs
into by the entities with their customers. in draft and final offer documents. KPIs are critical
for investors to evaluate a companys performance,
2. (c) The Reserve Bank of India (RBI) on 1 ,March assess risks, and compare with other industry
said 98.18 per cent of the Rs. 2000 banknotes in peers. The new standards exclude business-
circulation as on May 19, 2023, have been returned sensitive data, unverifiable information, and
till February 28, 2025. The total value of Rs. 2000 projections to ensure only relevant and reliable
banknotes in circulation, which was Rs. 3.56 lakh metrics are disclosed. Under the guidelines, KPIs
crore at the close of business on May 19, 2023, identified or certified by the issuer companys
when the withdrawal of Rs. 2000 banknotes was management must be approved by its audit
announced, has declined to Rs. 6,471 crore. The committee before inclusion in the offer document.
central bank said the facility for deposit and or Companies will also need to disclose operational
exchange of the Rs. 2000 banknotes was available measures non-financial data points that provide
at all bank branches in the country up to October insights into valuation and business models. These
07, 2023. From October 09, 2023, RBI Issue Offices metrics must be included in the basis for offer price
are also accepting Rs. 2000 banknotes from section of the offer document. Additionally,
individuals / entities for deposit into their bank companies must disclose key information shared
accounts. with investors who were allotted securities in any
primary issuance within three years prior to the
3. (a) The Reserve Bank of Indias (RBIs) $10 billion filing of the offer document, excluding employee
US dollar-rupee buy-sell swap auction for three stock ownership plans (ESOPs). This includes details
years received bids worth $16.23 billion, reflecting provided during secondary sales and any rights
robust demand amid persistent liquidity deficit in granted to such investors. KPIs must also
the banking system. This was the second swap encompass information from private placement or
auction by the central bank after it infused $5 billion rights issue offer letters issued within the same
via six month-swap on January 31. Of the 244 bids, three-year period. The guidelines also mandate that
the RBI accepted 161 bids worth $10.06 billion for a KPIs disclosed in the offer document be certified by
tenure of three years. The cut-off premium was set a professional. Post-listing, companies must
at 6.55, which was lower than market expectations. continue to disclose these KPIs periodically, either
The average premium on accepted bids was Rs. annually or until the issue proceeds are fully
6.73. The net liquidity in the banking system was in utilised.
a deficit of 1.81 trillion, according to the latest data
by the central bank. Indias foreign exchange 5. (c) Markets regulator Sebi has allowed all non-
reserves rose by $4.7 billion to $640 billion during banking financial companies (NBFC), including
the week ending February 21, on the back of the housing finance companies, to invest in security
rise in foreign currency assets, which rose by $4.2 receipts issued by Asset Reconstruction Companies
billion in the previous week, according to the latest (ARCs), a move aimed at encouraging investments
RBI data. Gold reserves increased by $426 million in the bad loans space. This has widened the scope
during the week. of participants who can acquire security receipts
from ARCs, thereby boosting liquidity in the
distressed asset market. ARCs are set-up to acquire

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bad loans from banks and financial institutions after Mobile and Email Verification through OTP
appropriate haircuts and issue security receipts authentication GST Data Retrieval via API-based
(SRs). This comes with safeguards to avert service providers Bank Statement Analysis using
defaulting promoters from claiming back the account aggregator frameworks. ITR Upload and
secured assets through SRs. Sebi said that such Verification for financial transparency Commercial
"NBFCs including HFCs will have to ensure that the and Consumer Bureau Checks Using APIs Fraud
defaulting promoters or their related parties do not Detection and Risk Assessment through Hunter
directly or indirectly gain access to secured assets checks and CICs Benefits to MSMEs: The
through security receipts; and such NBFCs including implementation of this digital credit assessment
HFCs shall comply with such other conditions as the model is expected to streamline the credit
RBI may specify from time to time". As per the application process for MSMEs, providing multiple
SARFAESI Act, only qualified buyers can invest in advantages: Convenience: Online submission of
security receipts. loan applications from any location Reduced
Documentation: Minimal paperwork and fewer
6. (d) On a review of current and evolving liquidity branch visits Faster Approvals: Instant in-principle
conditions, the Reserve Bank has decided to sanctions through digital processing Seamless
conduct the following operations to inject liquidity Credit Processing: End-to-end straight-through
into the banking system: OMO purchase auctions of process (STP) for efficiency Shorter Turnaround
Government of India securities for an aggregate Time (TAT): Swift decision-making based on
amount of Rs. 1,00,000 crore in two tranches of Rs. transactional behavior and credit history No Physical
50,000 crore each to be held on March 12, 2025, Collateral: Loans under the Credit Guarantee Fund
and March 18, 2025. Trust for Micro and Small Enterprises (CGTMSE) will
not require physical collateral This model marks a
7. (b) The Reserve Bank of India (RBI) has, by an significant shift from traditional credit assessments
order dated February 27, 2025, imposed a based solely on asset valuation and turnover.
monetary penalty of Rs. 1.00 lakh (Rupees One
Lakh only) on The Magadh Central Co-operative 9. (b) HDFC Bank has launched Project HAKK
Bank Limited, Bihar (the bank) for non-compliance (Hawai Anubhavi Kalyan Kendra) to provide support
with certain directions issued by RBI on Know your and services to Indian Air Force (IAF) pensioners,
Customer (KYC) This penalty has been imposed in veterans and their families. In this regard, the Bank
exercise of powers conferred on RBI under the has signed a Memorandum of Understanding (MoU)
provisions of Section 47A(1)(c) read with Sections with the IAF acting through the office of the
46(4)(i) and 56 of the Banking Regulation Act, Assistant Chief of Air Staff Accounts & Air Veterans
1949. The statutory inspection of the bank was and CSC Academy. The Bank said in a statement
conducted by National Bank for Agriculture and that 25 centres have been proposed across the Air
Rural Development (NABARD) with reference to its Force units, including New Delhi, Bengaluru,
financial position as on March 31, 2024. Gurgaon, Pune, Secunderabad, Guwahati, Jodhpur,
and Chandigarh. The bank, in association with CSC
8. (b) Union Finance and Corporate Affairs Minister Academy (promoted by Common Service Centre E-
Nirmala Sitharaman, along with Minister of State for Governance Limited), will provide skill development
Finance Pankaj Chaudhary, has officially launched a and training across financial products and services,
new Credit Assessment Model for Micro, Small, and empowering defence service veterans and next of
Medium Enterprises (MSMEs). This initiative, kin to be financially independent. The bank said
announced as part of the Union Budget 2024-25, defence servicemen/ex-servicemen and their
aims to enhance the credit evaluation process for families will be able to avail of more than 500 G2C
MSMEs by leveraging digital data. The launch took (Government to Citizen) and B2C (Business to
place during a post-budget interaction in Customer) services, including Aadhaar service, NPS,
Visakhapatnam, where the Finance Minister PAN Card, passport, bill collection, etc.
engaged with industry leaders, tax professionals,
and other stakeholders. The newly introduced 10. (b) SBI launched a dedicated collateral-free
model will enable public sector banks (PSBs) to low-interest rate loan offering for women
develop in-house capabilities for assessing MSME entrepreneurs. The country's largest lender
creditworthiness, reducing reliance on external launched the product christened 'Asmita' on the eve
evaluations. Key Features of the Model: The credit of the International Women's Day, under which it
assessment model will utilize various digital aims to offer low-interest rate funding alternatives
authentication and verification mechanisms, to women. The launch comes within days of
including: PAN and Name Authentication via NSDL Transunion Cibil flagging a low preference for

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business borrowing by women, who tend to prefer 13. (b) Avanse Financial Services Ltd. (Avanse) has
borrowing for consumption purposes. As per the launched SWALAKSH, a specialised education loan
leading credit information company, only 3 percent tailored for female students aspiring to study
of the borrowings by women were for business abroad. This initiative aims to empower more
purposes while a major 42 percent was for personal women by providing financial support and exclusive
finance products like personal loans, consumer benefits, reinforcing Avanses commitment to
durable loans, home ownership and 38 per cent fostering higher education for women. With this
against gold. The state-run bank also launched the unique offering, Avanse is extending the following
'Nari Shakti' platinum debit card powered by RuPay, benefits to female students pursuing international
which is designed exclusively for women. The education: Interest Rate Benefit: A 0.25%
bank's chairman CS Setty said the newly launched concession on loan interest rates. Affordable
product will provide faster and easier finance to Processing Fee: A flat INR 10,000 processing
women-led MSME units through a digital and self- charge. Merit-Based Rewards: Students with an
initiated process. academic score above 80% are eligible for benefits
worth INR 10,000. Performance-Based Incentives:
11. (c) Bank of Baroda has launched a specialised An additional INR 10,000 for students maintaining a
savings account for women NRIs, becoming the first CGPA of 3.5 at the end of their course. EMI Waiver:
Indian public sector bank to offer such a product. The last 12 EMIs of the repayment structure will be
The BoB Global Women NRE & NRO Savings waived. With SWALAKSH, Avanse Financial Services
Account provides benefits including concessional reaffirms its dedication to providing financial access
rates on home and auto loans, reduced processing and opportunities to women, fostering an inclusive
fees, full waivers on locker rent, and, a customised and educated future for India.
debit card with complimentary airport lounge
access. The account also comes with free personal 14. (b) Finance Ministry has notified Zero Coupon
and air accident insurance coverage. In addition to Bond (ZCB) for Power Finance Corporation. The
the women-centric offering, the bank has upgraded company can raise up to Rs. 10,000 crore. ZCB is
its bob Premium NRE & NRO Savings Account. The an instrument that doesnt pay interest during its
enhanced account features a debit card with higher term, but instead is sold at a discount to its face
transaction limits, free airport lounge access, free value. When the bond matures, the investor
safe deposit locker, and concessional loan rates. receives the full-face value. There will be no
Founded in 1908, Bank of Baroda operates in 17 periodic payment of interest. According to the
countries and serves around 165 million customers. notification, the bond will be issued with a discount
The new offerings are part of the banks strategy to of Rs. 49,546 for a face value of Rs. 1 lakh. In other
strengthen its position in the global NRI banking words, the investor will pay Rs. 50,454 at the time
segment. of issuance, while get Rs. 1 lakh at maturity. These
bonds will have the maturity value of 121 months
12. (b) Reserve Bank Innovation Hub (RBIH) has or 10 years and one month. To be issued on or
launched DesignShaala, an initiative aimed at before march 31, 2027, the notification said. The
promoting financial innovation through Human- notification has capped the number of bonds to be
Centered Design (HCD). The program was launched issued at 10 lakhs. These bonds are meant for long-
by Nandan Nilekani, Chairman and Co-Founder of term investors who are not looking for periodic
Infosys, during the Building for Billions event in interest payments but are focused on substantial
Bengaluru. DesignShaala is designed to ensure lumpsum payout at a future date. Since these
financial solutions are built around real user needs, bonds pay the full-face value at the maturity date,
behaviors, and experiences, making finance more they are perfect for allocating funds for respective
intuitive, inclusive, and impactful. The initiative future financial obligations such as a childs
aims to empower financial innovators to develop education, marriage, retirement etc. The ZCB
solutions that go beyond functionality and deliver attracts tax on gains only. It will depend upon the
truly transformative user experiences. RBIH duration of holding. If it is less than 12 months,
envisions DesignShaala as a movement toward then gains will attract short term capital gain tax
rethinking financial services with a people-first according to bond holders income tax slab.
approach. By embedding HCD principles, the However, gain after holding for more than 12
initiative seeks to improve accessibility, usability, months will be subjected to long term capital gain
and financial literacy while driving digital financial tax which is 12.5 per cent.
inclusion.
15. (b) State Bank of India (SBI), the nations
largest lender, is setting up a dedicated unit to

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cater to project financing needs of emerging sectors any of its extensive branch network. Taxpayers,
like artificial intelligence (AI), e-commerce, and through this integration, can now generate GST
fintech. Ashwini Kumar Tewari, Managing Director challans on the official GST portal (www.gst.gov.in)
at SBI, revealed that the initiative will be completed and pay GST by either selecting Yes Bank
within a year and will involve the hiring of NetBanking for instant online payments, ensuring
specialized professionals. The bank is also in the real-time confirmations and downloadable e-
process of appointing an external consultant to challans or select 'Over the Counter' payment
streamline the establishment of this unit. This new option for tax payments across the Bank's extensive
unit, named the Center of Excellence for Project branch network.
Financing, aims to expand SBIs project finance and
structuring division, which has traditionally focused 18. (b) Continuing its leadership in the gold loan
on large-scale infrastructure projects. With growing sector, Muthoot Finance has surpassed Rs. 1 lakh
demand, the bank is shifting its focus towards new- crore in gold loan AUM as of March 14, 2025. The
age industries and renewable energy, which are achievement comes amid a strong demand for gold
increasingly contributing to its project financing loans, as credit availability from other sources,
portfolio. Indias infrastructure modernization drive, including fintech lending, unsecured loans, and
spearheaded by Prime Minister Narendra Modi, is microfinance, has moderated in recent months, said
expected to create significant opportunities for a press release. The company also reported a 33
these sectors. SBIs annual report states that in the per cent rise in net profit in Q3 FY25 to Rs. 1,363
fiscal year 2024, the bank financed 48 large crore, while net interest income surged 42.8 per
projects through its project finance and structuring cent to Rs. 2,721.4 crore. It has strengthened its
unit. Beyond funding, the Center of Excellence for customer base by adding 1.37 million new
Project Financing will also serve as a knowledge- customers in the last nine months.
sharing hub, offering insights to other financial
institutions, Tewari added. 19. (d) Infibeam Avenues Ltd's flagship payment
gateway brand, CCAvenue, has partnered with The
16. (c) IIFL Finance, one of India's largest non- Sutex Co-operative Bank Ltd to help bolster the
banking financial companies, has rebranded seven bank's net banking facility. The new collaboration
existing branches into all women staffed 'Shakti' will enable Sutex Co-operative Bank Ltd to route
branches on the occasion of Women's Day. The secure direct debit digital payments to its
seven rebranded branches are located across the merchants, including multi-currency payments,
Delhi National Capital Region and Mumbai simplifying transactions. The Sutex Co-operative
Metropolitan Region, underscoring IIFL Finance's Bank was initially founded with the noble purpose of
commitment to empowering women in financial helping Surat Textile Market shopkeepers with
services. 'Shakti' branches celebrate the strength banking facilities and assisting them in starting and
and resilience of women who drive social and managing their businesses, the release added.
economic change in their communities. These
branches will cater to all borrowers and offer 20. (b) SATYA MicroCapital Ltd, a NBFC-MFI
financial literacy programs tailored for female committed to promoting entrepreneurship and
entrepreneurs. These seven Shakti branches, financial independence, has unveiled an ambitious
staffed entirely by women will provide employment goal of reaching 10 million households by 2030.
opportunities to female professionals, thereby This milestone aligns with the companys core
bolstering diversity, equity and inclusion (DEI). mission of promoting financial inclusion, with a
Beyond financial services, these branches will offer particular focus on supporting women-led
skill development programs designed to support enterprises. As part of its expansion strategy,
women entrepreneurs in scaling their businesses. SATYA MicroCapital plans to strengthen its
Women business owners are a vital force in India's geographical footprint by launching new branches
economy and form a significant segment of IIFL across India. This initiative aims to extend access to
Finance's customer base. affordable financial resources, empowering
underprivileged families with seamless opportunities
17. (c) In March 2025, Yes Bank announced the for economic growth. By providing tailored financial
launch of its Goods and Services Tax (GST) solutions such as microloans, SATYA seeks to drive
payment facility, strengthening its digital banking entrepreneurship, elevate household incomes, and
offers. The facility enables corporates and sole contribute to sustainable development. Emphasising
proprietor businesses to meet their tax obligations its holistic approach to microfinance, SATYA
securely in lesser time using the bank's Retail and integrates human touch, transparency, and
Corporate Internet Banking platforms, as well as

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sustainability in its operations. Mr. Vivek Tiwari- MD Security Controls in February, 2021 to combat web
& CEO of SATYA MicroCapital. and mobile app threats. RBI has also launched an
Artificial Intelligence (AI) based tool MuleHunter for
21. (a) In a significant step toward digitisation and identification of money mule and advised the banks
operational efficiency, Canara Bank has become the and financial institutions for its uses. Similarly, NPCI
first bank in India to introduce an Online Digital has also implemented device binding between
Balance Confirmation Certificate through the PSB customer mobile number and the device, two factor
Alliance Pvt. Ltd portal. This initiative simplifies and authentication through PIN, daily transaction limit,
expedites the auditing process by eliminating limits and curbs on use cases etc to secure UPI
cumbersome manual procedures. Traditionally, transactions. NPCI also provides a fraud monitoring
auditors were required to visit banks with solution to all the banks to generate alerts and
authorisation letters to obtain Balance Confirmation decline transactions by using AI/ML based models.
Certificates, a process that was both time- RBI and Banks have also been taking up awareness
consuming and labour-intensive. With this new campaigns through short SMS, radio campaign,
digital solution, auditors can now receive balance publicity on prevention of cyber-crime etc. This
confirmation directly via the online portal once the information was given by Minister of State For
customer provides online consent. This automation Finance Shri Pankaj Chaudhary in a written reply to
eliminates the need for physical paperwork and a question in Rajya Sabha.
speeds up financial verifications. Key Benefits of
Canara Banks Digital Initiative: Eliminates manual 23. (d) The Reserve Bank of India (RBI) has infused
paperwork for auditors Provides instant access to over Rs. 5 lakh crore into the banking system since
Balance Confirmation Certificates Enhances security mid-January through bond purchases, forex swaps,
and transparency in financial verification Saves time and early-April maturity repos. Aiming to maintain
and improves operational efficiency surplus liquidity and ensure the transmission of its
rate cut benefits to borrowers, the central bank is
22. (a) Various measures have been taken by the set to inject an additional Rs. 50,000 crore via bond
government to strengthen cyber security in the repurchases. Additionally, even as RBI injects
financial sector. The Government has been liquidity, it continues to withdraw rupees by selling
constantly engaging with the financial sector dollars from its forex reserves. This strategy has
regulators and other concerned stakeholders to helped stabilize the financial system, but short-term
strengthen the cyber security. The Ministry of Home interest rates remain elevated due to liquidity
Affairs (MHA) has established the Indian Cyber deficits and economic uncertainties.
Crime Coordination Centre (l4C) as an attached
office to provide a framework and eco-system for 24. (c) Capital markets regulator Sebi said it has
Law Enforcement Agencies (LEAs) to deal with reduced the minimum investment amount for Zero
cybercrimes in a comprehensive and coordinated Coupon Zero Principal (ZCZP) instruments on the
manner. The MHA has also launched the National Social Stock Exchange from Rs 10,000 to Rs 1,000.
Cyber Crime Reporting ZCZP are instruments for donating money to non-
portal(https://cybercrime.gov.in) to enable the profit organizations (NPOs) listed on the SSE. The
public to report all types of cyber crimes. Cyber move aims to enhance retail participation in social
crime incidents reported on this portal are routed impact investments. The change also modifies the
automatically to the respective State/UT LEAs for provisions outlined in a previous circular dated
further handling as per the provisions of law. The September 19, 2022, which was amended on
'Citizen Financial Cyber Fraud Reporting and December 28, 2023. According to the latest
Management System' has been launched for directive, the September 2022 circular will now
immediate reporting of financial frauds and to stop specify that the minimum investment size for ZCZP
siphoning off fund by the fraudsters. So far, an instruments will be Rs 1,000. "Based on
amount of Rs. 4386 Crore (approx..) has been recommendations of the Social Stock Exchange
saved involving 13.36 lakh complaints. Further Advisory Committee and public comments received
suspect registry of identifiers of cyber criminals has in respect of the consultation paper...it is decided to
been launched by MHA in collaboration with review the existing minimum application size for
Banks/Financial institutions. In order to reinforce subscribing to Zero Coupon Zero Principal
the security of digital transactions, various Instruments from Rs 10,000 to a lower amount i.e.
initiatives have been taken by the Government, Rs 1,000," Sebi said in a circular. By lowering the
Reserve Bank of India (RBI) and National Payments investment threshold, the Securities and Exchange
Corporation of India (NPCI) from time to time. RBI Board of India (Sebi) expects to encourage more
has issued Master Directions on Digital Payment participation from smaller investors, thereby

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increasing the flow of funds to social enterprises Partial or premature withdrawals are allowed but
working in sectors such as education and subject to a penalty. The interest rate applicable in
healthcare. The latest recommendation will come such cases will be the rate corresponding to the
into effect immediately, the regulator said. SSE is a actual deposit duration, minus a 0.5% penalty. If
novel concept in India and such a bourse is meant the penalty results in an effective interest rate
to serve private and non-profit sector providers by below zero, the deposit will not earn any interest. If
channelling greater capital to them. The idea was a term deposit matures on a non-business day, the
floated by Finance Minister Nirmala Sitharaman in interest is calculated at the originally agreed rate on
her Union Budget 2019-20 speech. SSE is a the principal amount for the extra non-business
separate segment of the existing stock exchanges days until the next working day.
that brings together social enterprises and donors,
facilitates funding and growth of social enterprises 27. (b) The Reserve Bank of India (RBI) said it has
and enables mechanisms to ensure robust imposed a penalty of Rs 36.28 lakh on Citibank N.A.
standards of impact and financial reporting. for contravention of the directions related to
reporting of transactions undertaken under the
25. (a) IDFC FIRST Bank said it has incorporated an Liberalised Remittance Scheme. In another release,
Ace feature on its mobile banking app that will it said penalty of Rs 36.30 lakh has been imposed
provide details on more than 2500 mutual funds. on IDBI Bank Ltd, for not undertaking due-diligence
This is aimed at promoting do-it-yourself investing while processing the inward remittances from a
among its customers. The private sector banks foreign currency account opened by a constituent.
customers can browse through various fund In both cases, the RBI said the penalties are based
categories (like Equity, Debt, Tax-Saving, Hybrid, on the deficiencies in regulatory compliance and not
and Index funds) and choose the right need-based intended to pronounce upon the validity of any
fund to build a diversified portfolio, per the Banks transaction or agreement entered into by the banks
statement. with their customers.

26. (e) HDFC Bank has launched Diplomat or 28. (b) Bank of Baroda (BoB) has launched
Embassy Fixed Deposit. This fixed deposit is for mDigiNext mobile app to exclusively cater to the
certain specific customers. The newly fixed deposits cash management needs of its corporate customers.
follow strict guidelines regarding who can invest in The bank said the new app will streamline cash
it, tenure of fixed deposits, minimum fixed deposit management operations and workflows for
amounts, renewals, interest rates, and premature corporates. BoBs dedicated cash management
withdrawals. HDFC Bank has launched Diplomat or services app offers payment functionalities that help
Embassy Fixed Deposit. This fixed deposit is for businesses manage their working capital and cash
certain specific customers. The newly fixed deposits flows, which, in turn, will bring in greater
follow strict guidelines regarding who can invest in efficiencies and facilitate faster execution and ease
it, tenure of fixed deposits, minimum fixed deposit of operations, the public sector bank said in a
amounts, renewals, interest rates, and premature statement. Further, it will allow accessing to
withdrawals. According to HDFC Bank Website, account summaries and mini-statements; viewing a
Embassy deposits are available exclusively for consolidated dashboard of all group entities; and
diplomats, non-diplomatic staff, and diplomatic enhanced security with OTP verification and 3-
missions. These are Foreign Currency (FCY) Term Factor Authentication. The mDigiNext mobile app is
Deposits available only in USD (United States currently available on Android and will soon be
Dollar). The minimum deposit amount is USD 5,000 available on iOS.
equivalent. Additional deposits must be made in
multiples of USD 1,000. There is no mention of the 29. (e) The 614th meeting of the Central Board of
maximum deposit amount that individuals can Directors of Reserve Bank of India was held in
invest in Embassy deposit as per the banks website. Thiruvananthapuram under the Chairmanship of
Embassy deposits are available for certain tenures Shri Sanjay Malhotra, Governor. The Board
only. Diplomatic staff can book Embassy deposits assessed the emerging global and domestic
for period of 1 month, 3 months, 6 months and 1 economic landscape, including the evolving
year. Automatic renewal is not allowed for Embassy geopolitical and financial market developments and
deposits. Once the fixed deposit matures, the associated challenges. Further, the Board discussed
proceeds are credited back to the original foreign the Reserve Banks activities during the current
currency account. If the depositor wishes to accounting year 2024-25. The Board also approved
reinvest, they must submit a new request form, the Banks budget for the accounting year 2025-26.
including all declarations and nomination details.

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30. (c) Government is reviewing the financial February 2025, down 13.7 per cent from 365
performance of Regional Rural Banks (RRBs) at million in February 2024.
national and regional levels. The agenda items for
the review meetings, inter-alia, include: 32. (b) As per the recent report, Bank of India has
raised $400 million via a dollar syndicated loan,
1. Review of the performance of RRBs on Financial marking its first such deal since 2012 that expands
Parameters and technology upgradation. a list of the countrys borrowers tapping global credit
markets. The rarity factor helped attract strong
2. Thrust on Micro Small and Medium Enterprise interest in the deal, allowing the borrower to
(MSME) portfolio. increase the size by $100 million via the so-called
greenshoe option, said the people, who asked not
3. Importance on loan diversification towards Agri- to be named discussing private matters. The facility
allied, MSME and Retail Sectors. drew a total of 22 lenders including arrangers CTBC
Bank Co. and Standard Chartered Plc, the people
Financial health of RRBs has improved in the recent said. The loan is equally split into three- and five-
years as they have posted highest ever consolidated year tranches, and raised via Bank of Indias branch
net profit of 7,571 crore during FY 2023-24. Also, located in Gujarat International Finance Tec-City,
the RRBs have shown consistent improvement in said the people. A spokesperson for Bank of India
key financial parameters like CRAR, deposits, declined to comment. The deal is the latest sign of
advances, NPA, CD ratio etc. The Key Financial the growing appeal of Indian assets to global
Parameters of RRBs have improved consistently in investors and lenders, with the Asian nations bonds
past years. The Total Balance sheet Size of RRBs posting strong monthly inflows and stocks
have increased from Rs. 7,04,556 Crore in FY 2021- recuperating from a trillion dollar selloff. The return
22 to Rs. 8,40,080 Crore in FY 2023-24. Further the of confidence stems from improving economic
Net NPA has declined from 4.7% in FY 2021- 22 to indicators, the Indian central banks liquidity
2.4% in FY 2023-24. Also the Credit to Deposit injections, and bets on an interest rate cut next
Ratio has increased from 64.5% to 71.4% from FY month.
2021-22 to FY 2023-24. Government has also
reviewed the progress made by RRBs in deepening 33. (c) The Reserve Bank of India (RBI) allowed
financial inclusion in rural and remote areas by standalone primary dealers (SPDs) to participate in
reviewing performance on various financial inclusion all repo operations, irrespective of the tenor,
schemes like Pradhan Mantri Jan Dhan Yojana, conducted by the central bank. On a review, it has
Pradhan Mantri Suraksha Bima Yojana, Pradhan now been decided to allow SPDs to participate in all
Mantri Jeevan Jyoti Bima Yojana, Atal Pension repo operations, irrespective of the tenor,
Yojana etc. conducted by the Reserve Bank, the RBI said in a
notification. Earlier, SPDs were permitted to
31. (d) The National Payments Corporation of India participate in all overnight liquidity management
(NPCI) and the Reserve Bank of India (RBI) have operations, excluding the Marginal Standing Facility.
approved an increase in the ATM interchange fee for Additionally, SPDs could participate in other
cash withdrawals from Rs 17 to Rs 19, with effect operations, such as long-term Variable Rate Repo
from May 1, 2025. The interchange has been (VRR) operations and daily VRRs, on a case-by-case
revised for domestic financial and non-financial basis. There is a liquidity crunch, especially because
transactions Non-financial transactions are subject this is March-end, and the deficit could be there
to an interchange fee of Rs7, according to an NPCI going into the next financial year also. So, this only
circular dated March 13. A separate goods and says liquidity can be more easily available for PDs,
services tax (GST) is levied on the interchange fee. said a dealer at a primary dealership. The central
The revised interchange is not applicable for micro- bank also conducted longer-tenure VRRs in order to
ATM, interoperable cash deposit (card-based and infuse durable liquidity in the banking system.
UPI-based), and international ATM transactions.
Such transactions will continue as per the existing 34. (c) The Reserve Bank of India (RBI) has
rates. The interchange fee for balance enquiries has imposed monetary penalties on HDFC Bank and
been set at Rs 7 excluding GST for transactions in Punjab & Sind Bank for non-compliance with its
Nepal and Bhutan. At present, there are 1,349 NFS regulatory guidelines, according to the press
members, up from 1,296 in February last year, statement issued by the RBI. While HDFC Bank is
according to NPCI data. The volume of NFS- slapped with a Rs. 75 lakh penalty for violations
approved transactions stood at 315 million in related to KYC norms, Punjab & Sind Bank was
fined Rs. 68.2 lakh for lapses in reporting large

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exposures and maintaining basic savings accounts. Broking Private Limited (MSBPL). The strategic
Explaining the reasons behind the penalty on HDFC move is to diversify MobiKwiks financial services
Bank, RBI said that it had conducted a statutory business beyond its existing digital payments and
inspection of the bank with reference to its financial lending businesses. This will make Mobikwik a
position as on March 31, 2023. Based on competitor to industry leaders like Zerodha, Groww,
supervisory findings of non-compliance with the and AngelOne. The Ministry of Corporate Affairs
central bank's directives, the RBI issued a notice to approved MSBPLs incorporation on March 3, 2025,
the bank advising it to show cause as to 'why as revealed in a recent filing with the National Stock
penalty should not be imposed on it for its failure to Exchange (NSE). The subsidiary will trade shares,
comply with the said directions.' One discrepancy stocks, securities, debt instruments, commodities,
was that the bank did not categorise certain currencies, and derivatives. Additionally, MSBPL
customers into low, medium or high risk categories intends to join stock and commodity exchanges
based on its assessment and risk perception, which domestically in India and abroad. This action is an
is mandatory as per the RBI directives. Additionally, indication of MobiKwiks vision to expand its reach
the bank allotted multiple customer identification and influence across the global financial markets.
codes to certain customers instead of a Unique MobiKwik Securities Broking has been incorporated
Customer Identification Code (UCIC) for each with a paid-up share capital of Rs. 1 lakh. The
customer, which is also a violation of RBI's holding company will invest another 2 crore in
directions. In another order, RBI also imposed MSBPL in one or multiple tranches to fund its
monetary penalty of Rs. 68.2 lakh on Punjab & Sind business growth. This investment underscores
Bank for non-compliance with guidelines issued by MobiKwiks commitment to making a significant
the central bank on Creation of a Central Repository impact in the competitive stockbroking landscape.
of Large Common Exposures Across Banks and
Financial Inclusion - Access to Banking Services 37. (b) Abound, a fintech platform tailored for
Basic Savings Bank Deposit Account (BSBDA). Indians residing in the United States, has
successfully raised $14 million in a seed funding
35. (b) India's central bank is set to double to 10 round led by the NEAR Foundation. The round also
per cent a cap on investment by individual foreign saw participation from Circle Ventures, Times
investors in listed companies, as it aims to boost Internet, and other prominent investors. This marks
capital inflows, according to two senior government the companys first external funding since its
officials and documents reviewed by Reuters. incubation at Times Internet, the digital arm of The
Foreign portfolio investors (FPIs), pressured by poor Times of India Group. The capital injection aims to
earnings, high valuations and prospects of US propel Abounds mission of creating a seamless
tariffs, have pulled more than $28 billion out of financial bridge between non-resident Indians
Indian stocks since September's record high in the (NRIs) and their home country. Nishkaam Mehta,
benchmark NSE Nifty 50. To boost foreign CEO of Abound.
investment, India is widening to all foreign investors
benefits it had until now restricted to overseas 38. (c) The pace of bank credit to the services
Indians while also raising applicable investment sector declined sharply to 13 per cent on a year-on-
limits, the officials said. The plans envisage allowing year (Y-o-Y) basis in the fortnight ended February
all foreign individual investors to invest a maximum 21, 2025, from 21.4 per cent a year ago. The
of 10 per cent in a listed company, the document slowdown was driven by a slump in loans to non-
showed. That is up from the 5 per cent holding in banking finance companies (NBFCs) and transport
an Indian company allowed to overseas Indian operators, Reserve Bank of India (RBI) data
citizens by special rules under the Foreign Exchange showed. Loans to NBFCs grew by just 6.4 per cent
Management Act (FEMA). The central bank, the Y-o-Y as on February 21, 2025, down from 14.7 per
Reserve Bank of India (RBI), will also raise to 24 cent on February 23, 2024. Banks scaled down their
per cent the combined holding limit for all overseas lending to NBFCs after the RBI hiked the risk
individual investors in an Indian listed company, weights on such exposure, signalling its concern
from 10 per cent now, the officials added. The plan over elevated growth and associated risks, bankers
to hike foreign investor limits in Indian listed firms said. Credit to transport operators showed 13.1 per
is in the final stages of discussion between the cent growth in February 2025, down from 23.6 per
government, the RBI, and Sebi. cent growth a year ago. Credit growth remained
robust in the professional services and trade
36. (b) Fintech firm MobiKwik has formally entered segments, the RBI said in a statement. Non-food
the securities broking business by establishing its bank credit expanded by 12 per cent Y-o-Y in
wholly owned subsidiary, MobiKwik Securities February 2025 as against 16.6 per cent in the

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corresponding fortnight in 2024. Credit to the retail in size, providing it a strong foundation. But a
loans segment registered growth of 14.0 per cent, departure from the business-as-usual approach will
down from 18.0 per cent a year ago, largely due to now be required to emerge as a high-income
a decline in the growth rate in other personal loans, country. Over the past three fiscal years, India's
credit card outstanding and vehicle loans segments. economy grew an average of 7.2 % per cent,
The slowdown reflects the impact of a hike in risk reinforcing its status as the fastest-growing major
weights in November 2023 for exposure to economy. In the financial year 2023-24, Indias GDP
unsecured credit, following signs of rising stress in expanded by an impressive 8.2 per cent, following
small-ticket loans, bankers added. Credit to growth rates of 7.2 per cent in 2022-23 and 8.7 per
industry recorded growth of 7.3 per cent in the cent in 2021-22. While the government has set a
fortnight ended February 21, 2025, compared with growth target of 6.4 per cent for the current fiscal
8.4 per cent a year ago. Among major industries, year, the World' Bank's report suggested that India
outstanding credit to petroleum, coal products and must push beyond these figures to meet its long-
all engineering, construction, and paper & paper term ambition.
products recorded accelerated Y-o-Y growth, the
RBI said. Credit to agriculture and allied activities 41. (b) Indias economic growth accelerated to 6.2
also slowed to 11.4 per cent in February 2025 from per cent in the December quarter of FY25, up from
20.0 per cent in February 2024, it added. a revised 5.6 per cent in the previous quarter,
reversing two consecutive quarters of slowdown.
39. (a) The National Payments Corporation of India However, significant revisions to past data have left
(NPCI) is set to implement new guidelines for economists perplexed. Data released by the Ministry
Unified Payments Interface (UPI) transactions from of Statistics and Programme Implementation
April 1, 2025, to enhance security, interoperability, (Mospi) showed the economy is expected to grow at
and overall customer experience. These are 6.5 per cent in FY25, marginally higher than the 6.4
requirements for all member banks of UPI, Payment per cent projected in January. The average GDP
Service Providers (PSPs), and third-party app growth for the first three quarters of FY25 stands at
providers (TPAPs), such as leading apps. According 6.1 per cent, implying that fourth-quarter growth is
to the Department of Telecommunications (DoT), assumed at 7.6 per cent. Alongside the FY25 growth
mobile numbers that have remained unused for 90 projection, Mospi revised growth estimates for FY23
days can be reassigned to new customers. To to 7.6 per cent from 7 per cent and for FY24 to 9.2
counter this, NPCI has made it obligatory for banks per cent from 8.2 per cent. Nominal GDP for FY25 is
and PSPs to update mobile number records weekly projected at ~331 trillion, assuming a growth rate
through the Mobile Number Revocation List (MNRL) of 9.9 per cent, slightly higher than the 9.7 per cent
and Digital Intelligence Platform (DIP). NPCI is also estimated in Januarys first advance projections. In
removing the Collect Payments feature from UPI the December quarter, agriculture grew robustly at
because of fraud issues. This feature will now be 5.6 per cent, aided by a steady progression in rabi
limited to large, authenticated merchants only, and sowing. Manufacturing growth remained sluggish at
person-to-person collect payments will be limited to 3.5 per cent. Growth in the construction sector
2,000. Effective Key Changes From April 1: Regular slowed to 7 per cent from 8.7 per cent in the
weekly updating of mobile number records through September quarter. Growth in private final
MNRL/DIP. Deactivating UPI IDs associated with consumption expenditure accelerated to 6.9 per
inactive or reused mobile numbers. Mandatory opt- cent in the December quarter. In contrast, gross
in for UPI number seeding; consent cant be fixed capital formation, a proxy for investment
captured at the time of transactions. Limitation of demand, marginally slowed to 5.7 per cent.
Collect Payments facility to verified merchants; However, government final consumption
person-to-person collect payments limited to 2,000. expenditure spending by both the central and state
Obligatory monthly reporting by PSPs for locally governments rebounded to 8.3 per cent in the
settled UPI numbers because of system lag. December quarter, recovering from an election-led
contraction in the June quarter.
40. (d) India will need to expand at an average
7.8% annually in real terms to realise its goal of 42. (b) Output in Indias eight core infrastructure
emerging as a developed country by 2047, sectors, which constitute about 40% of overall
according to a World Bank report released on industrial production, grew 4.6% in January, mildly
Friday. But for this to happen, all growth engines, slower than the upgraded 4.8% growth recorded in
backed by a sustained reforms push, must perform December but still the second highest uptick in six
more optimally, it said. The economy has grown at months. The core sectors had grown 4.2% in
a healthy pace of 6.3% since 2000 and quadrupled January 2024. On a sequential basis, however, the

48
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 www.oliveboard.in

Index of Core Industries (ICI) was up 2.4% from at a total capital cost of Rs. 4,081.28 crore. The
December 2024 with a reading of 173, which marks ropeway is planned to be developed in public-
a 10-month high and indicates the highest output private partnership and will be based on the most
level recorded so far in 2024-25. Januarys growth advanced Tri-cable Detachable Gondola (3S)
was largely driven by a 14.5% surge in cement technology with a design capacity of 1,800
production and an 8.3% uptick in refinery products. passengers per hour per direction (PPHPD) carrying
The Commerce and Industry ministry also revised 18,000 passengers per day. The ropeway project
upwards core sectors growth for October to 3.8% will be a boon to the pilgrims visiting Kedarnath as
from the 3.1% growth estimated earlier, and it would provide an environment-friendly,
Novembers growth to 4.4% from 4.3% reported comfortable and fast connectivity and reduce travel
initially. Steel and electricity generation grew 3.7% time in one direction from about 8 to 9 hours to
and 1.3%, respectively, reflecting the slowest about 36 minutes. Kedarnath is one of the 12
growth in four months for both segments. sacred Jyotirlingas situated at an elevation of 3,583
m (11968 ft) in the Rudraprayag district of the
43. (c) Multilateral financing agency International State of UK.
Monetary Fund (IMF) has said that India will retain
its position as the fastest-growing major economy 46. (b) The Cabinet Committee on Economic Affairs
by clocking a GDP growth of 6.5 per cent in 2025- (CCEA), chaired by the Prime Minister Shri Narendra
26, on the back of robust private investment and Modi, has approved the construction of 12.4 km
macroeconomic stability. "Real GDP is expected to ropeway project from Govindghat to Hemkund
grow at 6.5 per cent in 2024-25 and 2025-26, Sahib Ji in Uttarakhand. The project will be
supported by robust growth in private consumption developed on Design, Build, Finance, Operate and
on the back of sustained macroeconomic and Transfer (DBFOT) mode at a total capital cost of Rs.
financial stability. According to the second advance 2,730.13 crore. Currently, the journey to the
estimate released by the Indian government, the Hemkund Sahib Ji is a challenging 21-km uphill trek
country's economy is expected to clock a growth from Govindghat and is covered on foot or by
rate of 6.5 per cent during 2024-25. " ponies or palanquins. The proposed ropeway is
planned to provide convenience to pilgrims and
44. (b) The Union Government has released visiting the Hemkund Sahib Ji and the tourists
Fifteenth Finance Commission (XV FC) Grants visiting the Valley of Flowers and, and will ensure
during Financial Year 202425, for Rural Local Bodies all-weather last mile connectivity between
in West Bengal, 2nd installment of Untied Grants Govindghat and Hemkund Sahib Ji. The ropeway is
amounting to Rs.694.4446 crores and withheld planned to be developed in public-private
portion of 1st installment of Untied Grants partnership and will be based on Monocable
amounting to Rs.4.9323 crores. These funds are for Detachable Gondola (MDG) from Govindghat to
the 21 eligible District Panchayats, 326 eligible Ghangaria (10.55 km), seamlessly integrated with
Block Panchayats and 3220 eligible Gram the most advanced Tricable Detachable Gondola
Panchayats. The Untied Grants will be utilized by (3S) technology from Ghangaria to Hemkund Sahib
Panchayati Raj Institutions (PRIs)/ Rural Local Ji (1.85 km) with a design capacity of 1,100
Bodies (RLBs) for location-specific felt needs, under passengers per hour per direction (PPHPD) carrying
the Twenty-Nine (29) Subjects enshrined in the 11,000 passengers per day. Hemkund Sahib Ji is a
Eleventh Schedule of the Constitution, except for highly revered pilgrimage site situated at an
salaries and other establishment costs. The Tied elevation of 15,000 ft in Chamoli district of the
Grants can be used for the basic services of (a) State of Uttarakhand.
sanitation and maintenance of ODF status, and this
should include management and treatment of 47. (b) Gurugram-based AI-powered collections
household waste, and human excreta and fecal platform CredResolve raised $1.1 million in a seed
sludge management in particular and (b) supply of funding round led by Japanese venture capital firm
drinking water, rainwater harvesting and water UNLEASH Capital Partners, with additional
recycling. participation from CDM Capital. This funding is set
to accelerate CredResolves mission of transforming
45. (d) The Cabinet Committee on Economic Affairs debt recovery in India through artificial intelligence
(CCEA), chaired by the Prime Minister Shri Narendra and regulatory-driven automation. Founded in
Modi, has approved the construction of 12.9 km August 2023 by Balaji Koustubha, G Prashant
ropeway project from Sonprayag to Kedarnath Kumar, and Vijay Kumar, CredResolve is redefining
(12.9 km). The project will be developed on Design, the collections ecosystem by integrating AI with
Build, Finance, Operate and Transfer (DBFOT) mode borrower engagement strategies. Unlike traditional

49
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 www.oliveboard.in

debt collection models, the platform enhances It suggests focusing on areas like land, labor,
efficiency through automated recovery workflows, building regulations, and utilities. Examples of
improved borrower communication, and compliance deregulation measures are provided, including
with RBI regulations. liberalizing standards and controls, setting legal
safeguards for enforcement, reducing tariffs and
48. (e) India's Economic Survey for 2024-25 was fees, and applying risk-based regulation. - The
tabled in Parliament. Finance Minister Nirmala report highlights past successes in structural
Sitharaman tabled the report in Lok Sabha before reforms like GST and IBC, but stresses the need for
the Union Budget. The Survey reviews the current continuous modernization of the regulatory
financial year's economic performance and identifies framework. China's Dominance and the Energy
national challenges. It also suggests future reforms Transition - The Survey acknowledges China's
and growth strategies. A team led by Chief dominance in manufacturing and the energy
Economic Adviser V Anantha Nageswaran prepare transition ecosystem. - It notes China's strategic
the document. The Economic Survey prioritises advantage in controlling key resources for global
deregulation as the driving force for India's supply chains, particularly in critical minerals
domestic growth and resilience in the face of global essential for electric vehicles and renewable energy
economic and political shifts. Given the slowing technologies. - This dominance presents both
pace of global trade, the survey emphasizes the opportunities and challenges for India, particularly
importance of domestic growth drivers. The survey in its pursuit of energy transition goals.
advocates for a balanced approach to energy Performance of the banking sector and credit
transition, promoting electric mobility and public availability - The banking sector witnessed
transport while also addressing the need for skilling improved asset quality, with declining GNPAs and
and education to leverage technological rising CRAR. The GNPA ratio of SCBs declined to a
advancements like AI. Global Economic Overview: - 12-year low of 2.6% at the end of September 2024.
The global economy experienced steady but uneven - Bank credit growth has started converging
growth in 2024, with a manufacturing slowdown. towards deposit growth. - Credit growth moderated
Geopolitical tensions, conflicts, and trade policy across various sectors. - Profitability of SCBs
risks add to global economic instability. India's improved during H1 of FY25. Efficacy of Insolvency
Economic Performance: - India's real GDP is Law The Insolvency and Bankruptcy Code (IBC) has
estimated to grow by 6.4% in FY25, driven by significantly impacted the health of the banking
agriculture and services. - Rural demand improved sector and redefined the debtor-creditor
due to record Kharif production. - Manufacturing relationship. However, delays in the insolvency
faced pressure from weak global demand. resolution process remain a concern. Global
Macroeconomic stability was maintained through Inflation: Global food inflation is declining, aided by
fiscal discipline and a strong external balance. - improving supply conditions, but some emerging
Money supply (M3) growth moderated to 9.3% economies like Brazil, India, and China show a
(YoY) as of December 2024. - A higher money contrasting pattern. Domestic Inflation: - India's
multiplier indicates increased liquidity in the headline inflation has moderated due to a significant
economy. Outlook for FY26: - Balanced outlook with decrease in core inflation and fuel price inflation. -
headwinds from global uncertainties and commodity Food inflation is majorly driven by very few food
price shocks. - Domestically, investment pick-up, items like vegetables and pulses. - Extreme weather
improved consumer confidence, and corporate wage conditions impact vegetable production and prices -
growth are key for promoting growth. - Rural Uneven monsoon-induced supply disruptions caused
demand and stable macroeconomic conditions offer price pressures in tomatoes and onions. Onion
upside potential. - Need for structural reforms and production has been lower in recent years, leading
deregulation to enhance global competitiveness to sustained price pressures. Tomato prices
India's Growth Drivers and the Need for fluctuate seasonally, with higher prices during the
Deregulation - Regulatory compliance burden is lean production season. - Domestic household
seen as a major obstacle to economic freedom for consumption is lower than production for both
individuals and small businesses. - India should tomatoes and onions, suggesting that price
focus on domestic growth levers, given the pressures are not solely due to production shortfalls
changing global landscape. - It advocates for but also post-harvest losses, seasonality, and
policies that enhance economic freedom for regional dispersion. - Trends in production and
individuals and organizations. - Deregulation is inflation rate of tur: Tur dal has also contributed to
presented as a key tool for achieving this, with a food inflation due to deficient production in recent
focus on digitisation, decriminalisation, and years. State-wise Analysis of Service Sector
divestment of unnecessary government functions. - Performance: - Service sector activity is

50
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 www.oliveboard.in

geographically dispersed across Indian states. - played a crucial role in sustained growth. -
Some states have high service intensity, while Floriculture: The floriculture industry, with its 100%
others have strong industrial sectors. - Business export orientation, has emerged as a high-
reforms are essential for both industrial and service performing sector. It offers higher returns per unit
development. - Two key transformations are area compared to many traditional crops. -
reshaping India's services landscape: technology- Productivity Disparities: While India is a major
driven transformation of domestic service delivery global cereal producer, crop yields are lower than
and diversification of services exports. - New risks other leading producers, highlighting the need for
have emerged in the growth of IT and professional productivity improvements. - Allied Sectors Driving
services due to changes in global policies. - The Growth: High-value sectors like horticulture,
embedded service content of non-service economic livestock, and fisheries are major contributors to
activities has increased. - Focus on appropriate agricultural growth, with fisheries showing the
skilling of the labor force and simplification of highest CAGR. - Inter-state Variations: Andhra
procedures are crucial for future growth. Pradesh leads in agricultural growth among major
Employment - Significant improvements in labor states, followed by Madhya Pradesh and Tamil
market indicators, including a decline in the Nadu. - Changing Dietary Preferences: Rising
unemployment rate and a rise in labor force incomes are driving increased consumption of non-
participation. - Positive trends observed across food grains, particularly horticultural products,
states, with increases in worker population ratios livestock, and fisheries, necessitating robust post-
and labor force participation rates. - Rise in self- harvest management and marketing infrastructure.
employment and a decline in regular/salaried and - Irrigation Coverage: While irrigation coverage has
casual work, indicating a preference for flexible increased, a significant portion of agricultural land
work arrangements. - Impact on Women: Women's remains rain-fed, making it vulnerable to weather
participation in regular wage/salaried jobs fluctuations. - Climate Change Impacts: Climate
decreased, while self-employment and contribution change is exacerbating weather variability, with
to household enterprises increased. - Sectoral increased frequency of dry spells and intense short
Distribution: Agriculture remains the dominant wet spells. Education - Integrating innovative
sector, followed by services and industry. - Urban- solutions like new teaching methods, peer learning,
Rural Divide: Shift towards non-agricultural sectors and life skills training improving educational
observed in rural areas, while urban areas show a outcomes. - Focus on preventive healthcare, mental
decline in female salaried employment. - Rise in health, and leveraging technology can reduce
Female LFPR: Female labor force participation rate healthcare costs. - Increased spending reflecting
has been rising, driven by increased participation of the sector's growing importance. SSE grew at a
rural women. Skill Development: - Majority of the CAGR of 15% from FY21 to FY25 (BE). - Declining
workforce possesses low-level skills due to limited Urban-Rural Gap: Consumption growth momentum
educational attainment. - Skill development and in rural areas, narrowing the gap in MPCE to 70% in
internship programs are crucial for creating a 2023-24 from 84% in 2011-12. - Impact of Welfare
globally competitive workforce. - Mismatch between Schemes: Fiscal policies and welfare schemes
education and occupation levels, leading to contribute to reducing inequality and increasing
underemployment of graduates and postgraduates. consumption spending. - Higher Education:
- Low percentage of the workforce receives formal Affordability and geographical reach remain key
vocational training. - Tiered Skill Framework: Need challenges. Addressing challenges in medical
for a layered approach to skill development, education required along with promotion of
including advanced, intermediate, and foundational multidisciplinary institutions. - Healthcare
skills. - Industry Partnerships: Collaboration Advancements: Disruptive technologies like
between government, industry, and academia is telemedicine and AI are improving healthcare
crucial for creating a skilled workforce. - delivery. - Rural Development: Infrastructure
International Mobility: International cooperation and development, housing, and localizing SDGs are key
mobility of skilled workers are important for focus areas. - Mental Well-being: Addressing the
leveraging India's demographic dividend. impact of lifestyle and work culture on mental
Agriculture Sector - The agriculture sector recorded health and productivity. - Tim Tim Tare Initiative:
a growth rate of 3.5% in the second quarter of Imparting essential life skills to adolescent students.
FY25, marking a recovery from the previous four - Ayushman Bharat: Expanding health coverage to
quarters. - Assured Remunerative Prices: vulnerable populations and senior citizens. - U-WIN
Government interventions like assured Portal: Digitizing vaccination records and improving
remunerative prices, improved access to immunisation efforts. - Ultra-Processed Foods
institutional credit, and crop diversification have (UPFs): Raising awareness about their negative

51
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 www.oliveboard.in

health impacts and promoting healthier food agriculture and services. - Rural demand improved
choices. - Regulatory Reforms: Moving towards a due to record Kharif production. - Manufacturing
'light but tight' regulatory model to foster faced pressure from weak global demand.
innovation and improve outcomes in education and Macroeconomic stability was maintained through
health.Climate Change Issues: -India's vulnerability fiscal discipline and a strong external balance. -
to climate change necessitates urgent adaptation Money supply (M3) growth moderated to 9.3%
measures. - Adaptation in coastal regions includes (YoY) as of December 2024. - A higher money
mangrove conservation and restoration, building multiplier indicates increased liquidity in the
sea walls and artificial reefs, beach nourishment, economy. Outlook for FY26: - Balanced outlook with
and dune planting. The Mangrove Initiative for headwinds from global uncertainties and commodity
Shoreline Habitats & Tangible Incomes (MISHTI) price shocks. - Domestically, investment pick-up,
promotes mangrove conservation and restoration. - improved consumer confidence, and corporate wage
India's growing energy needs require a balanced growth are key for promoting growth. - Rural
approach to energy transition. - Experiences of demand and stable macroeconomic conditions offer
developed economies highlight the risks of upside potential. - Need for structural reforms and
prematurely phasing out conventional energy deregulation to enhance global competitiveness
sources without viable alternatives. - India needs to India's Growth Drivers and the Need for
leverage its resources and technologies to ensure a Deregulation - Regulatory compliance burden is
stable energy supply while pursuing a low-carbon seen as a major obstacle to economic freedom for
pathway. India will also need to create 78.5 lakh individuals and small businesses. - India should
new non-farm jobs annually till 2030-32, achieve focus on domestic growth levers, given the
100 per cent literacy, develop the quality of our changing global landscape. - It advocates for
education institutions, and develop high-quality, policies that enhance economic freedom for
future-ready infrastructure at scale and speed Infra- individuals and organizations. - Deregulation is
related ministries used 60% of budgeted capex in presented as a key tool for achieving this, with a
Apr-Nov Food inflation likely to soften in Q4 FY25 focus on digitisation, decriminalisation, and
with seasonal easing of vegetable prices FY26 GDP divestment of unnecessary government functions. -
growth seen in 6.3-6.8% range. The Economic It suggests focusing on areas like land, labor,
Survey prioritizes deregulation as the driving force building regulations, and utilities. Examples of
for India's domestic growth and resilience in the deregulation measures are provided, including
face of global economic and political shifts. liberalizing standards and controls, setting legal
safeguards for enforcement, reducing tariffs and
49. (a) India's Economic Survey for 2024-25 was fees, and applying risk-based regulation. - The
tabled in Parliament. Finance Minister Nirmala report highlights past successes in structural
Sitharaman tabled the report in Lok Sabha before reforms like GST and IBC, but stresses the need for
the Union Budget. The Survey reviews the current continuous modernization of the regulatory
financial year's economic performance and identifies framework. China's Dominance and the Energy
national challenges. It also suggests future reforms Transition - The Survey acknowledges China's
and growth strategies. A team led by Chief dominance in manufacturing and the energy
Economic Adviser V Anantha Nageswaran prepare transition ecosystem. - It notes China's strategic
the document. The Economic Survey prioritises advantage in controlling key resources for global
deregulation as the driving force for India's supply chains, particularly in critical minerals
domestic growth and resilience in the face of global essential for electric vehicles and renewable energy
economic and political shifts. Given the slowing technologies. - This dominance presents both
pace of global trade, the survey emphasizes the opportunities and challenges for India, particularly
importance of domestic growth drivers. The survey in its pursuit of energy transition goals.
advocates for a balanced approach to energy Performance of the banking sector and credit
transition, promoting electric mobility and public availability - The banking sector witnessed
transport while also addressing the need for skilling improved asset quality, with declining GNPAs and
and education to leverage technological rising CRAR. The GNPA ratio of SCBs declined to a
advancements like AI. Global Economic Overview: - 12-year low of 2.6% at the end of September 2024.
The global economy experienced steady but uneven - Bank credit growth has started converging
growth in 2024, with a manufacturing slowdown. towards deposit growth. - Credit growth moderated
Geopolitical tensions, conflicts, and trade policy across various sectors. - Profitability of SCBs
risks add to global economic instability. India's improved during H1 of FY25. Efficacy of Insolvency
Economic Performance: - India's real GDP is Law The Insolvency and Bankruptcy Code (IBC) has
estimated to grow by 6.4% in FY25, driven by significantly impacted the health of the banking

52
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The Document shall NOT be circulated / redistributed / printed in any form or through any channel. Appropriate action will be taken against violations.
 www.oliveboard.in

sector and redefined the debtor-creditor decline in female salaried employment. - Rise in
relationship. However, delays in the insolvency Female LFPR: Female labor force participation rate
resolution process remain a concern. Global has been rising, driven by increased participation of
Inflation: Global food inflation is declining, aided by rural women. Skill Development: - Majority of the
improving supply conditions, but some emerging workforce possesses low-level skills due to limited
economies like Brazil, India, and China show a educational attainment. - Skill development and
contrasting pattern. Domestic Inflation: - India's internship programs are crucial for creating a
headline inflation has moderated due to a significant globally competitive workforce. - Mismatch between
decrease in core inflation and fuel price inflation. - education and occupation levels, leading to
Food inflation is majorly driven by very few food underemployment of graduates and postgraduates.
items like vegetables and pulses. - Extreme weather - Low percentage of the workforce receives formal
conditions impact vegetable production and prices - vocational training. - Tiered Skill Framework: Need
Uneven monsoon-induced supply disruptions caused for a layered approach to skill development,
price pressures in tomatoes and onions. Onion including advanced, intermediate, and foundational
production has been lower in recent years, leading skills. - Industry Partnerships: Collaboration
to sustained price pressures. Tomato prices between government, industry, and academia is
fluctuate seasonally, with higher prices during the crucial for creating a skilled workforce. -
lean production season. - Domestic household International Mobility: International cooperation and
consumption is lower than production for both mobility of skilled workers are important for
tomatoes and onions, suggesting that price leveraging India's demographic dividend.
pressures are not solely due to production shortfalls Agriculture Sector - The agriculture sector recorded
but also post-harvest losses, seasonality, and a growth rate of 3.5% in the second quarter of
regional dispersion. - Trends in production and FY25, marking a recovery from the previous four
inflation rate of tur: Tur dal has also contributed to quarters. - Assured Remunerative Prices:
food inflation due to deficient production in recent Government interventions like assured
years. State-wise Analysis of Service Sector remunerative prices, improved access to
Performance: - Service sector activity is institutional credit, and crop diversification have
geographically dispersed across Indian states. - played a crucial role in sustained growth. -
Some states have high service intensity, while Floriculture: The floriculture industry, with its 100%
others have strong industrial sectors. - Business export orientation, has emerged as a high-
reforms are essential for both industrial and service performing sector. It offers higher returns per unit
development. - Two key transformations are area compared to many traditional crops. -
reshaping India's services landscape: technology- Productivity Disparities: While India is a major
driven transformation of domestic service delivery global cereal producer, crop yields are lower than
and diversification of services exports. - New risks other leading producers, highlighting the need for
have emerged in the growth of IT and professional productivity improvements. - Allied Sectors Driving
services due to changes in global policies. - The Growth: High-value sectors like horticulture,
embedded service content of non-service economic livestock, and fisheries are major contributors to
activities has increased. - Focus on appropriate agricultural growth, with fisheries showing the
skilling of the labor force and simplification of highest CAGR. - Inter-state Variations: Andhra
procedures are crucial for future growth. Pradesh leads in agricultural growth among major
Employment - Significant improvements in labor states, followed by Madhya Pradesh and Tamil
market indicators, including a decline in the Nadu. - Changing Dietary Preferences: Rising
unemployment rate and a rise in labor force incomes are driving increased consumption of non-
participation. - Positive trends observed across food grains, particularly horticultural products,
states, with increases in worker population ratios livestock, and fisheries, necessitating robust post-
and labor force participation rates. - Rise in self- harvest management and marketing infrastructure.
employment and a decline in regular/salaried and - Irrigation Coverage: While irrigation coverage has
casual work, indicating a preference for flexible increased, a significant portion of agricultural land
work arrangements. - Impact on Women: Women's remains rain-fed, making it vulnerable to weather
participation in regular wage/salaried jobs fluctuations. - Climate Change Impacts: Climate
decreased, while self-employment and contribution change is exacerbating weather variability, with
to household enterprises increased. - Sectoral increased frequency of dry spells and intense short
Distribution: Agriculture remains the dominant wet spells. Education - Integrating innovative
sector, followed by services and industry. - Urban- solutions like new teaching methods, peer learning,
Rural Divide: Shift towards non-agricultural sectors and life skills training improving educational
observed in rural areas, while urban areas show a outcomes. - Focus on preventive healthcare, mental

53
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The Document shall NOT be circulated / redistributed / printed in any form or through any channel. Appropriate action will be taken against violations.
 www.oliveboard.in

health, and leveraging technology can reduce for India's domestic growth and resilience in the
healthcare costs. - Increased spending reflecting face of global economic and political shifts.
the sector's growing importance. SSE grew at a
CAGR of 15% from FY21 to FY25 (BE). - Declining 50. (a) India's Economic Survey for 2024-25 was
Urban-Rural Gap: Consumption growth momentum tabled in Parliament. Finance Minister Nirmala
in rural areas, narrowing the gap in MPCE to 70% in Sitharaman tabled the report in Lok Sabha before
2023-24 from 84% in 2011-12. - Impact of Welfare the Union Budget. The Survey reviews the current
Schemes: Fiscal policies and welfare schemes financial year's economic performance and identifies
contribute to reducing inequality and increasing national challenges. It also suggests future reforms
consumption spending. - Higher Education: and growth strategies. A team led by Chief
Affordability and geographical reach remain key Economic Adviser V Anantha Nageswaran prepare
challenges. Addressing challenges in medical the document. The Economic Survey prioritises
education required along with promotion of deregulation as the driving force for India's
multidisciplinary institutions. - Healthcare domestic growth and resilience in the face of global
Advancements: Disruptive technologies like economic and political shifts. Given the slowing
telemedicine and AI are improving healthcare pace of global trade, the survey emphasizes the
delivery. - Rural Development: Infrastructure importance of domestic growth drivers. The survey
development, housing, and localizing SDGs are key advocates for a balanced approach to energy
focus areas. - Mental Well-being: Addressing the transition, promoting electric mobility and public
impact of lifestyle and work culture on mental transport while also addressing the need for skilling
health and productivity. - Tim Tim Tare Initiative: and education to leverage technological
Imparting essential life skills to adolescent students. advancements like AI. Agriculture Sector - The
- Ayushman Bharat: Expanding health coverage to agriculture sector recorded a growth rate of 3.5% in
vulnerable populations and senior citizens. - U-WIN the second quarter of FY25, marking a recovery
Portal: Digitizing vaccination records and improving from the previous four quarters. - Assured
immunisation efforts. - Ultra-Processed Foods Remunerative Prices: Government interventions like
(UPFs): Raising awareness about their negative assured remunerative prices, improved access to
health impacts and promoting healthier food institutional credit, and crop diversification have
choices. - Regulatory Reforms: Moving towards a played a crucial role in sustained growth. -
'light but tight' regulatory model to foster Floriculture: The floriculture industry, with its 100%
innovation and improve outcomes in education and export orientation, has emerged as a high-
health.Climate Change Issues: -India's vulnerability performing sector. It offers higher returns per unit
to climate change necessitates urgent adaptation area compared to many traditional crops. -
measures. - Adaptation in coastal regions includes Productivity Disparities: While India is a major
mangrove conservation and restoration, building global cereal producer, crop yields are lower than
sea walls and artificial reefs, beach nourishment, other leading producers, highlighting the need for
and dune planting. The Mangrove Initiative for productivity improvements. - Allied Sectors Driving
Shoreline Habitats & Tangible Incomes (MISHTI) Growth: High-value sectors like horticulture,
promotes mangrove conservation and restoration. - livestock, and fisheries are major contributors to
India's growing energy needs require a balanced agricultural growth, with fisheries showing the
approach to energy transition. - Experiences of highest CAGR. - Inter-state Variations: Andhra
developed economies highlight the risks of Pradesh leads in agricultural growth among major
prematurely phasing out conventional energy states, followed by Madhya Pradesh and Tamil
sources without viable alternatives. - India needs to Nadu. - Changing Dietary Preferences: Rising
leverage its resources and technologies to ensure a incomes are driving increased consumption of non-
stable energy supply while pursuing a low-carbon food grains, particularly horticultural products,
pathway. India will also need to create 78.5 lakh livestock, and fisheries, necessitating robust post-
new non-farm jobs annually till 2030-32, achieve harvest management and marketing infrastructure.
100 per cent literacy, develop the quality of our - Irrigation Coverage: While irrigation coverage has
education institutions, and develop high-quality, increased, a significant portion of agricultural land
future-ready infrastructure at scale and speed Infra- remains rain-fed, making it vulnerable to weather
related ministries used 60% of budgeted capex in fluctuations. - Climate Change Impacts: Climate
Apr-Nov Food inflation likely to soften in Q4 FY25 change is exacerbating weather variability, with
with seasonal easing of vegetable prices FY26 GDP increased frequency of dry spells and intense short
growth seen in 6.3-6.8% range. The Economic wet spells.
Survey prioritizes deregulation as the driving force

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51. (b) The Quick Estimates of Index of Industrial Year-on-year inflation rate based on All India
Production (IIP) are released on 12th of every Consumer Food Price Index (CFPI) for the month of
month (or previous working day if 12th is a holiday) February, 2025 over February, 2024 is 3.75%
with a six weeks lag and compiled with data (Provisional). Corresponding inflation rate for rural
received from source agencies, which in turn and urban are 4.06% and 3.20%, respectively. All
receive the data from the producing factories/ India inflation rates for CPI (General) and CFPI over
establishments. These Quick Estimates will undergo the last 13 months are shown below. A sharp
revision in subsequent releases as per the revision decline of 222 basis point is observed in food
policy of IIP. The IIP growth rate for the month of inflation in February, 2025 in comparison to
January 2025 is 5.0 percent which was 3.2 percent January, 2025. The food inflation in February, 2025
(Quick Estimate) in the month of December 2024. is the lowest after May, 2023. Rural Inflation: Sharp
The growth rates of the three sectors, Mining, decline in headline and food inflation in rural sector
Manufacturing and Electricity for the month of observed in February, 2025. The headline inflation
January 2025 are 4.4 percent, 5.5 percent and 2.4 is 3.79% (provisional) in February, 2025 while the
percent respectively. The Quick Estimates of IIP same was 4.59% in January, 2025. The CFPI based
stands at 161.3 against 153.6 in January 2024. The food inflation in rural sector is observed as 4.06% in
Indices of Industrial Production for the Mining, February, 2025 in comparison to 6.31% in January,
Manufacturing and Electricity sectors for the month 2025. Urban Inflation: Significant decline from
of January 2025 stand at 150.7, 159.1 and 201.9 3.87% in January, 2025 to 3.32% (Provisional) in
respectively. Within the manufacturing sector, 19 February, 2025 is observed in headline inflation of
out of 23 industry groups at NIC 2 digit-level have urban sector. Similar decline is observed in food
recorded a positive growth in January 2025 over inflation which is decreased from 5.53% in January,
January 2024. The top three positive contributors 2025 to 3.20% in February, 2025. Housing
for the month of January 2025 are Manufacture of Inflation: Year-on-year Housing inflation rate for the
basic metals (6.3%), Manufacture of coke and month of February, 2025 is 2.91%. Corresponding
refined petroleum products (8.5%) and Manufacture inflation rate for the month of January, 2025 was
of electrical equipment (21.7%). The corresponding 2.82%. The housing index is compiled for urban
growth rates of IIP as per Use-based classification sector only. Fuel & light: Year-on-year Fuel & light
in January 2025 over January 2024 are 5.5 percent inflation rate for the month of February, 2025 is -
in Primary goods, 7.8 percent in Capital goods, 5.2 1.33 %. Corresponding inflation rate for the month
percent in Intermediate goods, 7.0 percent in of January, 2025 was -1.49 %. It is combined
Infrastructure/ Construction Goods, 7.2 percent in inflation rate for both rural and urban sector.
Consumer durables and (-)0.2 percent in Consumer Education Inflation: Year-on-year Education
non-durables (Statement III). Based on use-based inflation rate for the month of February, 2025 is
classification, top three positive contributors to the 3.83%. The same education inflation was observed
growth of IIP for the month of January 2025 are in the month of January, 2025. It is combined
Primary goods, Infrastructure/ construction goods education inflation for both rural and urban sector.
and Intermediate goods. Monthly Indices and Health Inflation: Year-on-year Health inflation rate
Growth Rate (in %) of IIP for the last 13 months. for the month of February, 2025 is 4.12%.
Along with the Quick Estimates of IIP for the month Corresponding inflation rate for the month of
of January 2025, the indices for December 2024 January, 2025 was 3.97%. It is combined health
have undergone the first revision and those for inflation for both rural and urban sector. Transport
October 2024 have undergone final revision in the & Communication: Year-on-year Transport &
light of the updated data received from the source communication inflation rate for the month of
agencies. The Quick Estimates for January 2025, February, 2025 is 2.87%. Corresponding inflation
the first revision for December 2024 and the final rate for the month of January, 2025 was 2.76%. It
revision for October 2024 have been compiled at is combined inflation rate for both rural and urban
weighted response rates of 90 percent, 94 percent sector. The significant decline in headline inflation
and 96 percent respectively. and food inflation during the month of February,
2025 is mainly attributed to decline in inflation of
52. (c) Key highlights: Year-on-year inflation rate Vegetables, Egg, Meat & fish, Pulses & products and
based on All India Consumer Price Index (CPI) for Milk & Products. Top five items with highest
the month of February, 2025 over February, 2024 is inflation: The top five items showing highest year
3.61% (Provisional). There is decline of 65 basis on year Inflation at All India level in February 2025
points in headline inflation of February, 2025 in are coconut oil (54.48%), coconut (41.61%), gold
comparison to January, 2025. It is the lowest year- (35.56%), silver (30.89%) and onion (30.42%) Top
on-year inflation after July, 2024. Food Inflation: five items with lowest inflation: The key items

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having lowest year on year inflation in February, 55. (c) India will be the world's third-largest
2025 are ginger (-35.81%), jeera (-28.77%), economy by 2028 as it becomes the world's most
tomato (-28.51%), cauliflower (-21.19%), garlic (- sought-after consumer market and gains share in
20.32%). For other data related to All India Item global output, driven by macro stability influenced
Index and Inflation. policy and better infrastructure, Morgan Stanley
said. In 2028, India will overtake Germany as its
53. (d) India's Economic Survey for 2024-25 was economy will expand to $5.7 trillion. From a $3.5
tabled in Parliament. Finance Minister Nirmala trillion economy in 2023, the Indian economy is
Sitharaman tabled the report in Lok Sabha before projected to expand to $4.7 trillion in 2026, which
the Union Budget. The Survey reviews the current will make it the fourth largest in the world behind
financial year's economic performance and identifies the US, China and Germany. According to Morgan
national challenges. It also suggests future reforms Stanley, India was the 12th largest economy in the
and growth strategies. A team led by Chief world in 1990, slipped to 13th position in 2000
Economic Adviser V Anantha Nageswaran prepare before rising to 9th rank in 2020 and 5th in 2023. It
the document. The Economic Survey prioritises projects three scenarios for India's growth - Bear -
deregulation as the driving force for India's where the economy expands to $6.6 trillion by 2035
domestic growth and resilience in the face of global from $3.65 trillion in 2025, Base - where it grows to
economic and political shifts. Given the slowing $8.8 trillion and Bull - where the size balloons to
pace of global trade, the survey emphasizes the $10.3 trillion. Morgan Stanley expected inflation will
importance of domestic growth drivers. The survey be 4.3 per cent year-on-year in FY2026-27, lower
advocates for a balanced approach to energy than 4.9 per cent in FY2025.
transition, promoting electric mobility and public
transport while also addressing the need for skilling 56. (c) Consumer price index (CPI) or retail inflation
and education to leverage technological is likely to undershoot the Reserve Bank's target in
advancements like AI. Performance of the banking the January-March 2025 quarter, opening more
sector and credit availability - The banking sector policy space for easing the policy rate, Bank of
witnessed improved asset quality, with declining Baroda said. India's retail inflation significantly
GNPAs and rising CRAR. The GNPA ratio of SCBs improved in February 2025, as the year-on-year
declined to a 12-year low of 2.6% at the end of Consumer Price Index (CPI) inflation rate stood at
September 2024. - Bank credit growth has started 3.61 percent. The retail inflation print fell below 4
converging towards deposit growth. - Credit growth per cent in February for the first time in six months,
moderated across various sectors. - Profitability of mainly due to a decline in vegetable prices. The
SCBs improved during H1 of FY25. sharp decline in inflation in February, particularly in
food categories, was largely attributed to falling
54. (a) India will be the world's third-largest prices in key items like vegetables, eggs, meat and
economy by 2028 as it becomes the world's most fish, pulses, and milk products.
sought-after consumer market and gains share in
global output, driven by macro stability influenced 57. (e) The Central Board of Direct Taxes (CBDT)
policy and better infrastructure, Morgan Stanley has announced that all tax-related offences,
said. In 2028, India will overtake Germany as its including those investigated by the Enforcement
economy will expand to $5.7 trillion. From a $3.5 Directorate (ED) and the Central Bureau of
trillion economy in 2023, the Indian economy is Investigation (CBI), can now be resolved by paying
projected to expand to $4.7 trillion in 2026, which a fine, a process known as the compounding of
will make it the fourth largest in the world behind offences'. However, this applies only if the taxpayer
the US, China and Germany. According to Morgan has no links to anti-national or terrorist activities. If
Stanley, India was the 12th largest economy in the any taxpayer is found involved in anti-national or
world in 1990, slipped to 13th position in 2000 terrorist activities, their case can only be settled
before rising to 9th rank in 2020 and 5th in 2023. It with the approval of the CBDT chairman. To guide
projects three scenarios for India's growth - Bear - taxpayers, the CBDT has also issued a frequently
where the economy expands to $6.6 trillion by 2035 asked question (FAQ) list on the subject explaining
from $3.65 trillion in 2025, Base - where it grows to the process of applying for compounding of
$8.8 trillion and Bull - where the size balloons to offences. To guide taxpayers, the CBDT has also
$10.3 trillion. Morgan Stanley expected inflation will issued a frequently asked question (FAQ) list on the
be 4.3 per cent year-on-year in FY2026-27, lower subject explaining the process of applying for
than 4.9 per cent in FY2025. compounding of offences. Compounding allows a
person to avoid major legal consequences by paying
a certain amount of money as penalty. The

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competent tax authorities can settle such offences source TDS and TCS) is required to pay advance tax
either before or after legal proceedings begin. that year, as per Section 208 of the Income-Tax
Competent authority means Principal Chief Act. This includes salaried taxpayers. Advance tax is
Commissioner or Chief Commissioner or Principal to be paid before the end of the financial year on
Director-General or Director-General having the income that one would have earned that year.
jurisdiction over the assessee. According to the Advance tax is paid in four instalments June 15,
CBDT FAQ, taxpayers can apply multiple times for September 15, December 15, and March 15 of the
compounding. The government has also removed financial year. As per the data released by the
the earlier 36-month limit for filing applications. Central Board of Direct Taxes (CBDT), mop up from
Now, applications can be made even after net non-corporate taxes, which include mainly
prosecution has started. The authority responsible personal income tax, grew 17 per cent year-on-year
for reviewing and approving such cases includes the to about Rs 11.01 trillion. However, net corporate
Principal Chief Commissioner, Chief Commissioner, tax collection rose in single digits at 7 per cent to Rs
Principal Director-General, or Director-General of 9.69 trillion between April 1, 2024, and March 16,
Income Tax. Key changes in the new tax rules The 2025. Net collections from securities transaction tax
government has made it easier for taxpayers to (STT) surged nearly 56 per cent to Rs 53,095 crore
settle tax-related offences without facing legal so far this fiscal.
prosecution. Here are the major changes: All
offences can now be settled: Earlier, some tax 59. (a) The Union Cabinet, chaired by the Prime
offences could not be settled. Now, all offences Minister Shri Narendra Modi, has approved the
under the Income Tax Act are eligible for proposal for setting up of a new Brownfield
compounding. No limit on applications: Taxpayers Ammonia-Urea Complex of 12.7 Lakh Metric Tonnes
can apply multiple times for compounding, even if (LMT) annual capacity of Urea production within the
their earlier request was rejected, as long as they existing premises of Brahmaputra Valley Fertilizer
fix the issues. More time to apply: The earlier rule Corporation Limited (BVFCL), Namrup Assam, with
required applications to be filed within 36 months. an estimated total project cost of Rs.10,601.40
This time limit has now been removed. More Crore with Debt Equity ratio of 70:30 through a
offences covered: Cases related to tax evasion and Joint Venture (JV), under the New Investment
non-payment of TDS (Sections 275A & 276B) can Policy, 2012 read with its amendments on 7th
now also be settled. No need to reapply for pending October, 2014. The tentative overall time schedule
cases: If an application was already pending before for commissioning of Namrup-IV Project is 48
October 17, 2024, it will be automatically months. Additionally, the Cabinet also approved the
considered under the new rules. Fee adjustments National Fertilizers Limited (NFL)s equity
allowed: If a taxpayer has already paid an participation of 18% in relaxation to the limits
application fee, it will be adjusted against the final prescribed in Department of Public Enterprises
settlement charges (but only for the offences (DPE) guidelines; and constitution of an Inter-
mentioned in the application). Option to withdraw Ministerial Committee (IMC) to oversee the process
and reapply: Taxpayers can withdraw a previous of setting up of Namrup-IV Fertilizer Plant. In the
application and submit a new one. However, higher proposed JV, equity pattern will be as under: (i)
charges may apply. Government of Assam: 40% (ii) Brahmaputra Valley
Fertilizer Corporation Limited (BVFCL): 11% (iii)
58. (c) Net direct tax collection grew 13.13 per cent Hindustan Urvarak & Rasayan Limited (HURL): 13%
to over Rs 21.26 trillion so far this fiscal aided by (iv) National Fertilizers Limited (NFL): 18% (v) Oil
higher advance tax mop up, government data India Limited (OIL): 18% BVFCLs share of equity
showed on Monday. During the year, the shall be in lieu of tangible assets. The project will
government collected Rs 10.44 trillion from four increase the domestic Urea production capacity in
instalments of advance tax as against Rs 9.11 the country especially in the North-Eastern region.
trillion in the previous fiscal, registering a growth of It will meet the growing demand of Urea fertilizers
14.62 per cent. The last instalment of the advance of North East, Bihar, West Bengal, Eastern Uttar
tax payment was due on March 15, 2025, for the Pradesh, and Jharkhand. The establishment of
current financial year. Advance tax collection under Namrup-IV unit will be more energy efficient. It will
the corporate tax category rose by 12.54 per cent also open avenues for additional direct and indirect
to Rs 7.57 trillion while non-corporates witnessed a employment opportunity to the people of the area.
growth rate of 20.47 per cent to Rs 2.87 trillion It shall help achieve the vision of self-reliance in
during the financial year. An individual whose Urea in the country.
estimated tax liability is likely to be over Rs 10,000
(after considering tax deducted and collected at

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60. (b) The Cabinet Committee on Economic Affairs miners, who have defied numerous challenges with
chaired by Prime Minister Narendra Modi, has unmatched dedication, have played a pivotal role in
approved the construction of 6- lane access achieving this historic milestone.
controlled Greenfield High Speed National Highway
starting from JNPA Port (Pagote) to Chowk (29.219 63. (c) The Ministry of Coal has launched the 11th
km) in Maharashtra. The project will be developed round of coal mine auctions for commercial mining
on Build, Operate and Transfer (BOT) mode at a on December 05, 2024 marking another significant
total capital cost of Rs. 4500.62 Crore. The project step in Indias journey towards self-reliance in the
alignment starts at JNPA port (NH 348) (Pagote coal sector. In the forward auctions, a total of
village) and ends at Mumbai-Pune Highway (NH-48) twelve coal mines were successfully auctioned,
while also linking Mumbai Pune Expressway and comprising eight fully explored mines and four
Mumbai Goa National highway (NH-66). Two partially explored coal mines. The newly auctioned
tunnels passing through Sahayadri are provided for mines are projected to generate an annual revenue
ease of movement for commercial vehicles instead of ~3,330 crore (excluding partially explored mines)
of ghat section in hilly terrain ensuring high speed and attract a capital investment of approximately
and ease in movement for large container trucks. 2,319 crore. Additionally, these mines are expected
The new 6 lane green field project corridor will lead to create 20,902 employment opportunities,
to better port connectivity help in safe and efficient significantly contributing to economic development
freight movement. The project will open new in coal-bearing regions. Since the inception of
avenues of growth, development and prosperity in commercial coal mining in 2020, the Ministry of
developing regions in and around Mumbai and Coal has successfully auctioned a total of 125 coal
Pune. mines, with a combined production capacity of
273.06 Million Tonnes per year. Production from
61. (c) India's low reliance on external demand is commercial coal mines have shown significant
expected to shield the country from US trade growth. Production from commercial coal mines
policies, Fitch Ratings said Wednesday. While have shown significant growth. Production of coal in
India's economic growth forecast for FY26 is FY 23-24 was 12.55 MT and it has increased in FY
unchanged at 6.5% from the December outlook, the 24-25 to 22.35 MT (till date) registering a growth of
projection for FY27 was revised upwards by 10 ~78.14%.
basis points to 6.3%. This fiscal year, India's GDP is
anticipated to grow by 6.3%, the global rating S. Name of Mine State
agency said. Consumer spending will pick up pace No.
in the coming two fiscals, albeit at a slower pace, it 1 Jawardaha North Jharkhand
noted. Indian economy gained momentum in the 2 Dahegaon/Makardhokra- Maharashtra
December quarter, expanding 6.2% from a seven- IV
quarter low of 5.6% in the quarter before, led by 3 Saradhapur Jalatap East Odisha
improved consumer spending. 4 Namchik East Arunachal
Pradesh
62. (a) India has achieved a momentous milestone 5 Marwatola-II Madhya
in coal production, surpassing one billion tonnes Pradesh
(BT) on March 20, 2025, in the fiscal year 2024-25. 6 Namchik West Arunachal
This remarkable achievement comes 11 days ahead Pradesh
of last fiscal year's coal production of 997.83 million 7-8 Banai & Bhalumunda Chhattisgarh
tonnes (MT), underscoring Indias significant 9 Sahapur East Madhya
progress in ensuring its energy demands and Pradesh
driving industrial, agricultural, driving industrial, 10 Seregarha Jharkhand
agricultural, and overall economic growth. India
11 Vijay Central Chhattisgarh
relies on coal for approximately 55% of its energy
12 Bhandak West Maharashtra
mix, and around 74% of the countrys electricity is
generated by coal-based power plants. This
64. (c) Ribbit Capital, a leading Fintech-focused VC
underscores the critical importance of coal in
firm from San Francisco, is preparing to raise $500
powering Indias economy and sustaining energy
million for its latest flagship fund, Ribbit Capital Y,
security. The coal sectors success is attributed to
as revealed in recent filings with the U.S. Securities
the tireless efforts of Coal Public Sector
and Exchange Commission (SEC). Ribbit Capital has
Undertakings (PSUs), private players, and the
positioned itself as one of the major players in the
dedicated workforce of around 5 lakh mine workers
fintech space, having invested in some of Indias top
across more than 350 coal mines. These coal
unicorns, like CRED, Razorpay, BharatPe, and

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PhonePe. The company initially invested in India in extended by 30 days, from 90 days to May 1, 2025.
2014 with PolicyBazaar and has backed other digital The government has also procured record quantities
platforms like MoneyView and the now-dissolved of soybean during the kharif season after market
ZestMoney. The companys fresh fundraising prices fell below the MSP. So far, the National
campaign reflects its long-term commitment to the Agricultural Cooperative Marketing Federation of
Indian market, where two of its best India (NAFED) and the National Cooperative
companiesPhonePe and Growware said to be Consumers Federation of India (NCCF) have
preparing for, initial public offerings (IPOs). procured 0.24 million tonnes of tur from Andhra
PhonePe, which is valued at around $12 billion, is Pradesh, Gujarat, Karnataka, Maharashtra, and
planning to file draft papers by June for a listing this Telangana at MSP, benefiting nearly 1,71,569
year. The company wants to be worth $15 billion farmers in these states. In Uttar Pradesh, a major
when it lists. Similarly, Groww is also preparing for tur-growing state, prices are currently ruling above
its own IPO, aiming to raise over $1 billion. the MSP. Announcing these decisions, agriculture
minister Shivraj Singh Chouhan said the Modi
65. (d) IT services major Wipro announced that it governments objective is to benefit farmers and it
has won a Rs. 5,500 Crores, 10-year strategic deal will leave no stone unturned in fulfilling this goal.
with Phoenix Group, the UK's largest long-term He also appealed to states to ensure that no
savings and retirement business. This will be one of procurement takes place below the MSP.
the largest deals for the company as well as for the Procurement of copra (both milling and ball
industry in a long time. As part of this varieties) has also been approved in Tamil Nadu.
transformational initiative, a number of Phoenix
employees will transition to Wipro. The project is 67. (e) The Union Government has released the
designed to deliver life and pension business second installment of the Fifteenth Finance
administration for the ReAssure business and Commission (XV FC) Grants for rural local bodies in
accelerate Phoenix Groups operational Tripura and Karnataka for the financial year
transformation. Under the terms of the deal, Wipros 202425, strengthening local governance and driving
existing FCA-regulated entity, Wipro Financial rural transformation. In Tripura, the government
Outsourcing Services Limited (WFOSL), will deliver has allocated Rs. 31.1259 crores in Untied Grants
comprehensive life and pension administration (2nd installment), benefiting 589 eligible Gram
services to Phoenix Groups ReAssure customers. Panchayats, along with all Block Panchayats,
These services will encompass policy administration, District Panchayats, and Traditional Local Bodies.
claims processing, customer service support, data While for Karnataka, Rs. 404.9678 crores in Untied
management and reporting, compliance and Grants (2nd installment) has been released for
regulatory support, as well as platform 5375 eligible Gram Panchayats, supporting rural
technologies. local bodies across the state. These grants empower
Panchayati Raj Institutions (PRIs) enabling them to
66. (b) The Union government has approved the address location-specific needs under the 29
direct procurement of 2.8 million tonnes of chana subjects outlined in the Eleventh Schedule of the
(gram), 2.82 million tonnes of mustard, and 0.94 Constitution. These funds are utilized for
million tonnes of lentils at the Minimum Support development initiatives excluding salaries and
Price (MSP) during the current rabi season to establishment costs. The grants are divided into two
ensure farmers receive remunerative prices for their categories: Untied Grants: These can be used for
crops. Farmers in Rajasthan, Madhya Pradesh, and diverse community-specific needs and are aimed at
Gujarat are expected to benefit from this decision, enhancing local infrastructure and development
an official statement said. The purchases have been projects. Tied Grants: Specifically allocated for the
approved under the revamped PM-AASHA (Pradhan critical areas of sanitation (including the
Mantri Annadata Aay Sanrakshan Abhiyan) scheme. maintenance of Open Defecation Free status, waste
Under this scheme, the government has committed management, and fecal sludge management) and
to procuring 100 per cent of tur (pigeon pea), urad drinking water (including rainwater harvesting and
(black gram), and masoor (lentils) if prices fall water recycling). The release of these funds is a
below the MSP for the next four years, until 2028- significant move toward decentralizing resources
29. For the 2024-25 kharif season, the Centre has and empowering local governments. Managed by
also approved procurement of tur at MSP from the Ministry of Panchayati Raj and Ministry of Jal
Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Shakti, the XV Finance Commission Grants are
Karnataka, Madhya Pradesh, Maharashtra, designed to drive grassroots development, enhance
Telangana, and Uttar Pradesh. Additionally, the local governance, and support initiatives tailored to
procurement window for tur in Karnataka has been the unique needs of rural communities.

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68. (e) The Centre plans to raise Rs 8 lakh crore trillion rupees, or 78.8% of the annual target,
through dated securities during April-September compared with 18.49 trillion rupees for the same
period of 2025-26 to fund the revenue gap, the period a year earlier. India's financial year runs
finance ministry said. Out of gross market from April through March. Total government
borrowing of Rs 14.82 lakh crore estimated for expenditure for the 11 months was 38.93 trillion
2025-26, Rs 8 lakh crore, or 54 per cent, is planned rupees or about 82.5% of the annual goal. Capital
to be borrowed in the first half (H1) through expenditure, or spending on building physical
issuance of dated securities, including Rs 10,000 infrastructure, was 8.12 trillion rupees, or 79.7% of
crore of Sovereign Green Bonds (SGrBs), an official the annual target. The government, which plans to
statement said. Finance Minister Nirmala shift to debt-to-GDP as the key benchmark for fiscal
Sitharaman in the Budget proposed to borrow Rs policy from 2026-27, said it would aim to bring debt
14.82 lakh crore by issuing dated securities to meet down to a level of 50% by March 2031 from about
revenue shortfall in the next financial year. Fiscal 57%.
deficit, the gap between the governments total
revenue and total expenditure, is estimated to be 70. (d) The Union Cabinet chaired by Prime Minister
4.4 per cent of GDP for FY26 as compared to 4.8 Narendra Modi approved to release of an additional
per cent of the GDP estimated for the current instalment of Dearness Allowance (DA) to Central
financial year. In absolute terms, the fiscal deficit is Government employees and Dearness Relief (DR) to
pegged at Rs 15,68,936 crore for the financial year pensioners w.e.f. 01.01.2025 representing an
2025-26. To finance the fiscal deficit, the net increase of 2% over the existing rate of 53% of the
market borrowings from dated securities are Basic Pay/Pension, to compensate against price
estimated at Rs 11.54 lakh crore. The balance rise. The combined impact on the exchequer on
financing is expected to come from small savings account of increase in both Dearness Allowance and
and other sources. According to the latest official Dearness Relief would be Rs. 6614.04 crore per
statement, the gross borrowing would be completed annum. This will benefit about 48.66 lakh Central
through 26 weekly auctions ranging between Rs Government employees and 66.55 lakhs
25,000 crore and Rs 36,000 crore. The market pensioners. This increase is in accordance with the
borrowing will be spread over 3, 5, 7, 10, 15, 30, accepted formula, which is based on the
40 and 50 year securities and the share of recommendations of the 7th Central Pay
borrowing (including SGrBs) under different Commission.
maturities will be 3-year (5.3 per cent), 5-year
(11.3 per cent), 7-year (8.2 per cent), 10-year 71. (e) The Cabinet Committee on Economic Affairs
(26.2 per cent), 15-year (14 per cent), 30-year (CCEA), chaired by the Prime Minister Shri Narendra
(10.5 per cent), 40-year (14 per cent) and 50-year Modi, has approved the construction of 4-lane
(10.5 per cent). The government will carry out access controlled greenfield and brownfield Patna
switching/buyback of securities to smoothen the Arrah Sasaram corridor starting from Patna to
redemption profile, it said. The government will Sasaram (120.10 km) in Bihar. The project will be
continue to reserve the right to exercise greenshoe developed on Hybrid Annuity Mode (HAM) at a total
option to retain an additional subscription of up to capital cost of Rs. 3,712.40 crore. Currently,
Rs 2,000 crore against each of the securities connectivity between Sasaram, Arrah and Patna
indicated in the auction notifications, it said. Weekly relies on existing State Highways (SH-2, SH-12,
borrowing through issuance of Treasury Bills in the SH-81 and SH-102) and takes 3-4 hours due to
first quarter (Q1) of FY 2025-26 is expected to be heavy congestion including in Arrah town. A
Rs 19,000 crore for 13 weeks with issuance of Rs greenfield corridor, along with 10.6 km of
9,000 crore under 91-day T-bill, Rs 5,000 crore upgradation of existing brownfield highway, will be
under 182-day T-bill and Rs 5,000 crore under 364- developed to reduce the increasing congestion,
day T-bill. To take care of temporary mismatches in catering to the needs of densely built-up areas in
government accounts, it said, the Reserve Bank of places like Arrah, Grahini, Piro, Bikramganj, Mokar
India has fixed the Ways and Mean Advances and Sasaram. The project alignment integrates with
(WMA) limit for H1 of FY 2025-26 at Rs 1.50 lakh major transport corridors, including NH-19, NH-319,
crore. NH-922, NH-131G, and NH-120, providing seamless
connectivity to Aurangabad, Kaimur, and Patna.
69. (d) India's fiscal deficit for April-February was Additionally, the project will also provide
13.47 trillion rupees ($157.62 billion), or 85.8% of connectivity to 02 airports (Patnas Jay Prakash
the estimate for the financial year ending March 31, Narayan International Airport and upcoming Bihita
government data showed. Net tax receipts for the airport), 04 major railway stations (Sasaram, Arrah,
first 11 months of the financial year were at 20.16 Danapur, Patna), and 01 Inland Water Terminal

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(Patna), and enhance direct access to Patna Ring FY25 are estimated at 7.6%, 9.2%, and 6.5%,
Road, facilitating faster movement of goods and respectively.
passengers. Upon completion, the Patna-Arrah-
Sasaram Corridor will play a pivotal role in regional 74. (a) The National Convention on Model Women-
economic growth, improving connectivity between Friendly Gram Panchayats was organized by the
Lucknow, Patna, Ranchi, and Varanasi. Ministry of Panchayati Raj in New Delhi on 5th
March, 2025, with an aim to establish at least one
72. (d) The Cabinet Committee on Economic Affairs Model Gram Panchayat in each District in the
(CCEA) chaired by the Prime Minister Shri Narendra country that is both women and girl friendly. The
Modi, has approved inclusion of Kosi Mechi Intra- national convention, held as part of the
State Link Project of Bihar under Pradhan Mantri International Womens Day 2025 celebrations,
Krishi Sinchai Yojana0Accelerated Irrigation Benefits witnessed participation from over 1500 elected
Programme (PMKSY-AIBP) of Ministry of Jal Shakti. representatives and officials from selected Gram
The CCEA has also approved central support of Panchayats across the country in physical and
Rs.3,652.56 crore to Bihar for completion of the virtual mode. The National Convention unveiled
project by March, 2029 with an estimated cost of initiatives including Virtual Training Programs for
Rs.6,282.32 crore. The Link Project will provide Model Women-Friendly Gram Panchayats and a
2,10,516 hectares additional annual irrigation in comprehensive Real-Time Monitoring Dashboard for
Kharif season in Araria, Purnea, Kishanganj and gauging the progress of these women friendly gram
Katihar districts of Bihar. The project has potential panchayats in India. This digital platform is a
to divert/utilize about 2,050 million cubic meter of technological intervention to measure, analyze, and
surplus water of Kosi through the proposed link improve women's participation and welfare at the
canal. Further, after remodelling of existing EKMC, grassroots level. The dashboard promises real-time
shortfall supply to 1.57 lakh hectare existing insights and data-driven interventions to support
command of existing Eastern Kosi Main Canal shall women leaders in the country.
be restored. Background: Pradhan Mantri Krishi
Sinchai Yojana (PMKSY) was launched during the 75. (c) Prime Minister Narendra Modi chaired the
year 2015-16, with an aim to enhance physical seventh meeting of the National Board for Wildlife
access of water on farm and expand cultivable area (NBWL) at Gir National Park in Gujarat, on the
under assured irrigation, improved on-farm water occasion of the World Wildlife Day, and announced
use efficiency, introduce sustainable water several significant decisions and findings to improve
conservation practices, etc. Government of India wildlife conservation efforts in India, including the
has approved implementation of PMKSY during expansion of the Cheetah reintroduction initiative to
2021-26 with an overall outlay of Rs.93,068.56 new locations. One of the highlights of the meeting,
crore (central assistance of Rs.37,454 crore). which the prime minister attended after completing
Accelerated Irrigation Benefits Programme (AIBP) a lion safari in Gir in the morning, was the release
component of PMKSY is for creation of irrigation of Indias first-ever riverine dolphin census report,
potential through major and medium irrigation which pegged the number of the aquatic mammals
projects. So far 63 projects have been completed at 6,327 across the country. The PM also laid the
under PMKSY-AIBP and additional irrigation foundation stone for the National Referral Centre for
potential of 26.11 lakh hectare has been created Wildlife at Junagadh in Gujarat and announced the
since April, 2016. Nine projects have been included 16th Asiatic lion population estimation to be carried
after AIBP component of PMKSY 2.0 since 2012-22. out in May this year. On the occasion, Modi also
Kosi Mechi Intra-State Link project is tenth project announced the setting up of a centre of excellence
included in the list. for human-wildlife conflict management Salim Ali
Centre for Ornithology and Natural History
73. (c) Indias economy is expected to grow at 6.5% (SACON), at Coimbatore in Tamil Nadu, and
in the fiscal year 2025-26, according to the latest unveiled a book on river dolphins. At the NBWL
EY Economy Watch report. The report emphasizes meeting, the PM also announced the initiation of a
the need for a well-calibrated fiscal strategy that new conservation project on gharials (fish-eating
supports human capital development while crocodiles), and a National Great Indian Bustard
maintaining fiscal prudence to enhance long-term Conservation Action Plan after considering the need
growth prospects. For FY25, real GDP growth is to upscale conservation efforts, of this critically
projected at 6.4%, aligning with the revised endangered bird species, the release said.
estimates by the National Statistical Office (NSO). Population estimation of Asiatic lions is carried out
The revised national accounts data indicate that once every five years. The last such exercise was
Indias real GDP growth rates for FY23, FY24, and carried out in 2020. Modi announced the initiation

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of the 16th cycle of lion estimation to be conducted Indigo Peasants Speak to Gandhi Volume III. This
in 2025. The last count in 2000 pegged the volume contains 423 testimonies, including 143
population of the wild animal at 674, recording a principal testators, among whom five were women,
growth of nearly 29% compared to 523 in 2015 11 were minors, 76 signed the documents, and four
census. PM Modi also recommended usage of had no signature or thumb impression. This third
remote sensing and geospatial mapping and volume in the series focuses on the historic
artificial intelligence (AI) & machine learning to Champaran Satyagraha. The National Archives of
combat issues such as forest fires and human- India, an attached office under the Ministry of
animal conflicts. Culture, was originally established as the Imperial
Record Department on 11 March 1891 in Kolkata
76. (a) Karnataka Chief Minister Siddaramaiah (Calcutta). Following the transfer of the capital to
announced during his budget speech in the Delhi in 1911, the present NAI building, designed by
Legislative Assembly that Bangalore City University Sir Edwin Lutyens, was completed in 1926. The
will be renamed Dr Manmohan Singh Bengaluru City complete transfer of records from Calcutta to New
University, in honor of the former Prime Minister of Delhi was finalized in 1937. The National Archives of
India, who passed away on February 26. The move India also serves as the nodal agency for
is aimed at transforming the institution into a model implementing the Public Records Act, 1993, and the
university in the country. Dr. Manmohan Singh, Public Record Rules, 1997.
Indias 13th Prime Minister, was known for his role
in economic liberalization and financial reforms, 79. (a) The North Eastern Handicrafts and
which played a crucial part in shaping modern Handlooms Development Corporation Ltd.
Indias economy. His contributions to education, (NEHHDC) under the Ministry of Development of
economy, and governance were widely recognized, North Eastern Region, has obtained Oeko-Tex
and Karnataka's decision to rename the university certification for eri silk from Germany. Oeko-Tex is
after him is seen as a tribute to his legacy. a worldwide certification for textiles such as yarns,
fabrics, buttons, linens, terry cloth, thread, and
77. (d) The Centre declared the Madhav National other accessory materials. Obtaining the Oeko-Tex
Park in Madhya Pradesh as the countrys 58th tiger certification is a crucial milestone in enhancing the
reserve on March 9, 2025, with Union Environment marketability of eri silk in the global textile industry.
Minister Bhupender Yadav making the The certification ensures international buyers that
announcement. The newly added national park was eri silk meets international safety and quality
also the ninth from the State to get the recognition. standards, boosting consumer confidence and
Located in the Shivpuri district in Chambal region, facilitating its acceptance in high-end markets.
the reserve has five tigers at present, including the
two cubs born recently. Two more tigers could be 80. (b) The Delhi Legislative Assembly has taken a
released into the reserve by Madhya Pradesh CM significant step towards digital governance by
Mohan Yadav soon. Three tigers, including two signing a tripartite Memorandum of Understanding
females, were introduced to the Madhav National (MoU) with the Ministry of Parliamentary Affairs
Park in 2023 as part of the tiger reintroduction (MoPA), Government of India and Government of
project in the State. National Capital Territory of Delhi (GNCTD) for the
implementation of the National e-Vidhan Application
78. (d) The National Archives of India (NAI) (NeVA). With this development, Delhi becomes the
celebrated its 135th Foundation Day on 11th March 28th legislature to sign MoU with the Ministry for
2025 with an exhibition titled Indian Heritage implementation of the project, marking a new
through Architecture. Union Minister of Culture & chapter in its legislative functioning. The NeVA
Tourism, Shri Gajendra Singh Shekhawat platform is hosted on Meghraj 2.0, Indias cloud
inaugurated the exhibition. The exhibition infrastructure, ensuring robust scalability, security,
showcased Indias rich cultural heritage as reflected and data integrity.
in its diverse architectural marvels, spanning
thousands of years and encompassing a variety of 81. (b) The Agricultural and Processed Food
styles, influences, and historical periods. From the Products Export Development Authority (APEDA),
ancient Indus Valley Civilization to medieval under the Ministry of Commerce & Industry,
temples, Mughal monuments, and colonial-era Government of India, has successfully exported the
structures, Indian architecture narrates the nations first consignment of GI-Tagged Dalle Chilly from
spiritual, cultural, and historical evolution. On this Sikkim to the Solomon Islands. Dalle Chilly, also
occasion, the National Archives of India also known as Fire Ball Chilly or Dalle Khursani, is
launched a book titled Thumb Printed: Champaran, renowned for its intense pungency, bright red color,

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 www.oliveboard.in

and high nutritional value. Rich in vitamins A, C, • Medical Benefits:Primary, secondary, and
and E, along with potassium, its Scoville Heat Units tertiary healthcare.
(SHU) range from 100,000 to 350,000, making it a
sought-after spice for both culinary and medicinal • Cash Benefits:Sickness, temporary/permanent
applications. disablement, maternity benefits (26 weeks),
dependent benefits, and funeral expenses.
82. (a) Union Minister of Labour & Employment and
Youth Affairs & Sports, Dr. Mansukh Mandaviya • Unemployment Allowance:Under theRajiv
announced that the Employees State Insurance Gandhi Shramik Kalyan Yojana
Corporation (ESIC) has expanded its coverage in (RGSKY)andAtal Beemit Vyakti Kalyan Yojana
Uttar Pradesh by notifying 15 additional districts (ABVKY)for workers facing job loss.
under the Employees State Insurance (ESI)
Scheme. This marks significant step towards The notification of these 15 districts reaffirms the
strengthening social security for workers in the Governments commitment toextending social
state. The newly notified districts security coverageto every eligible worker in the
namely,Ambedkar Nagar, Auraiya, Bahraich, country. Efforts are underway to bring
Gonda, Hamirpur, Jalaun, Kannauj, theremaining non-notified districts under ESIC,
Maharajganj, Mahoba, Pilibhit, ensuring that no worker is left out of this vital
Siddharthnagar, Shamli, Pratapgarh, Kasganj, safety net.
and Shravasti, add53,987 new Insured
Personsto the ESIC network. Revised 83. (e) The Centre announced a revision in the
Implementation Status Nationwide Following salary, pension and additional pension of Members
this expansion, the national implementation status of Parliament (MPs) and Ex-Members of Parliament
of the ESI Scheme stands as follows: notifying a 24 per cent hike in the salaries of the
current MPs. The notification, issued by the Ministry
• Total Districts Covered (Fully Partially):689 of Parliamentary Affairs, also increased the daily
allowances for sitting members and pension and,
• Fully Notified Districts:586 pension and additional pension for every year of
service over five years for former members. The
• Partially Notified Districts:103 increase in the salary has been notified in the
exercise of the powers granted under the Salary,
• Non-Notified Districts:89 Allowances and Pension of Members of Parliament
Act based on the Cost Inflation Index specified in
• Total Districts in India:778 the Income Tax Act of 1961.

Measures for Further Expansion To ensure Here are the revised benefits for MPs:
comprehensive coverage across all remaining
uncovered areas, ESIC has been actively working • Salary: The monthly salary for MPs has been
on the following initiatives: increased fromRs. 1,00,000 toRs. 1,24,000.

• Coordination with theState Governmentto • Daily Allowance: The daily allowance has been
arrange medical care facilities in non-implemented raised fromRs. 2,000 toRs. 2,500.
areas.
• The pension for former members of Parliament has
• UtilizingCommunity Health Centers (CHCs) been increased fromRs. 25,000 per month toRs.
and Primary Health Centers (PHCs)to extend 31,000 per month.
medical care in uncovered districts.
• The additional pension for every year of service
• Integration withAyushman Bharat Pradhan over five years has been increased fromRs. 2,000
Mantri Jan Arogya Yojana (AB-PMJAY)to per month toRs. 2,500 per month.
provide cashless medical care for ESIC beneficiaries
without any expenditure cap. Karnataka govt approves 100% salary hike for CM,
minister and MLAs. The salary hikes come during
Benefits under the ESIC Scheme The ESIC the second leg of the budget session 2025 and just
provides acomprehensive social security netfor days after the Karnataka government's recent
workers, including: approval of a 100% salary increase for its chief
minister, ministers, and MLAs. As per the Karnataka

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Ministers' Salaries and Allowances (Amendment) 86. (a) Dr. Arvind Virmani, Hon'ble Member of NITI
Bill, the Chief Minister's monthly salary will double Aayog, released the second edition of the "Trade
fromRs. 75,000 toRs. 1.5 lakh, while ministers' Watch Quarterly" publication for the Quarter II of
salaries will increase by 108 per cent fromRs. the financial year 2025 (July to September) on
60,000 toRs. 1.25 lakh. March 28, 2025, in New Delhi. In addition to
offering a comprehensive analysis of Indias trade
84. (e) India is the top producer of milk in the world position for the quarter, this edition examines the
and has set a target of producing 300 million metric textile sector, a key contributor to economic growth
tons (MMT) of milk in the next five years from the through export promotion, job creation, women's
present 239 MMT, Union Minister of Animal empowerment, and the representation of India's
Husbandry and Dairying Rajiv Ranjan Singh said. rich heritage and culture. During Q2 FY25, Indias
Singh also said that ever since the Modi trade performance remains continual, with total
government has launched the Rashtriya Gokul trade growing steadily at 5.67% in AprilSeptember
Mission (RGM) in 2014, the milk production in the 2024 compared to the same period in 2023. On the
country has increased by 63.5 per cent and the imports side, copper has entered the top ten
government is hopeful of further increasing it by 15 sectors, driven by a robust 28% year-on-year
per cent in next three years. "India is now the top increase in imports due to rising infrastructure
milk producing country in the world. We have now demand. The composition of exports has remained
set a target of producing 300 MMT of milk in next largely stable compared to the previous quarter,
five years from the present 239 MMT," he said. The with a year-on-year increase in the export growth
minister said about 10 crore people in the country of electrical machinery and nuclear reactors, while
are engaged in milk production of which 75 per cent mineral fuels and iron & steel saw a year-on-year
are women. He said the per person consumption of decline in Q2 FY25. Regionally, North America and
milk in India is 471 gram. The Department of the EU continue to dominate Indias exports,
Animal Husbandry and Dairying is implementing accounting for approximately 40%, while Northeast
Rashtriya Gokul Mission. It mains objective is Asia and West Asia remain key import sources. This
development and conservation of indigenous edition of Trade Watch Quarterly also assesses
breeds, genetic upgradation of bovine population Indias textile sector, a sector that continues to
and enhancement of milk production and contribute significantly to industrial output,
productivity of bovines thereby making milk employment, and export earnings. India is one of
production more remunerative to the farmers. The the top 10 worlds exporters and of a modest India
scheme, launched in 2014, is continued under holds 4% share in global trade. India remains
revised realigned schemes of the Department from competitive in natural fibre-based textiles,
2021-2022 to 2025-2026. particularly cotton and carpets, accounting for
nearly 70% of its textile exports. While the nation
85. (c) Chief of Defence Staff (CDS) General Anil has historically excelled in natural fibre-based
Chauhan, inaugurated Techkriti 2025, Asias largest textiles, the global market is shifting towards man-
intercollegiate technical and entrepreneurial festival, made and technical textiles and this shift presents
at IIT Kanpur. In a Fireside Chat, the CDS gave an opportunity for India to diversify its exports,
insights on the need for advancement and enhance value addition, and strengthen supply
modernisation in the Indian Armed Forces and chain integration.
shared his perspectives on preparing for emerging
challenges of Future Wars, specifically in the Cyber, 87. (e) US President Donald Trump signed an
Artificial Intelligence, Quantum and Cognitive executive order designating English as the official
domains. This years theme, Panta Rhei (Everything language of the United States. The order rescinds a
Flows), highlights the continuous evolution of policy introduced by former President Bill Clinton
technology and innovation. Techkriti 2025 promises that required federal agencies and organisations
to be a remarkable celebration of technology, receiving government funding to offer language
entrepreneurship and collaboration, pushing the assistance to non-English speakers. The move
boundaries of discovery and innovation. A special aligns with a long-standing campaign promise by
segment, Rakshakriti, a dedicated Defence Expo to Trump and reflects efforts by lawmakers who have
showcase the cutting-edge defence technology, was attempted for decades to pass similar legislation.
a key feature of Techkriti 2025. Driving further More than 30 states have already declared English
synergy between armed forces, academia and their official language.
defence industry, Gen Anil Chauhan interacted with
budding technologists. 88. (c) Delhi Police has launched a dedicated squad
against eve teasing, 'Shishtachar,' with at least 30

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teams deployed across the national capital, class officers must visit a government school every
especially in hotspots, to check incidents of month. During these visits, they will interact with
harassment and ensure the safety of women in students about their subjects of interest and discuss
public spaces. The Bharatiya Janata Party (BJP) had government schemes related to their departments.
in the Delhi assembly election manifesto promised Besides this, these officers must visit a civil
to establish 'Anti-Romeo squad', as in Uttar hospital, CHC, or PHC in their district to inspect
Pradesh, to enhance women's safety in public facilities and services. A dedicated portal will be
spaces. The initiative adopts a multi-faceted developed to track these visits.
approach, involving prevention, intervention and
victim assistance. The squads have been directed to 90. (c) The star Indian batter Virat Kohli has been
focus on enforcing the law without imposing on top of the world ever since he finally found his
personal or cultural morality, while also ensuring form again with a century against Pakistan in Indias
that victims are protected from undue public last game at the ICC Champions Trophy. He even
scrutiny or embarrassment. They will be provided became the fastest player to reach 14,000 ODI runs
with one four-wheeler and adequate two-wheelers during his epic innings, surpassing Sachin Tendulkar
to ensure effective patrolling and quick response. and Kumar Sangakkara. He has now officially
District Deputy Commissioners of Police (DCPs) become the seventh Indian batter to represent
have been tasked with identifying and listing India in 300 ODI games or more. Sachin Tendulkar
hotspots prone to harassment, with squad (463 games) is at the top, while the former Indian
deployment focusing on these areas. The 'Anti- skipper MS Dhoni (347 games) is in second place.
Romeo squad' for women's safety were first set up
by the Yogi Adityanath government in Uttar Pradesh 91. (d) Indias Krishna Jayasankar made history at
in 2017 to fulfil the BJP's poll pledge after the party the 2025 Mountain West Indoor Track and Field
came into power there. Championships by becoming the first Indian woman
to cross the 16-metre mark in indoor shot put. Her
89. (e) Haryana Chief Minister Nayab Singh Saini record-breaking throw measured 16.03 metres. The
has launched the state-of-the-art artificial 22-year-old broke the previous Indian indoor record
intelligence-powered chatbot 'Sarathi' for the Chief of 15.54 metres. Poornarao Rane set that record at
Secretary's office website. This chatbot is aimed at the 2023 American Athletic Conference Indoor
bringing revolutionary changes in citizen Championships. Mya Lesnar of the USA bagged the
engagement by providing easy access to important Gold while compatriot Gabby Morns claimed a
government directives, notifications, and circulars sliver. Krishnas previous best indoor throw was
published over the years, a release said. During the 15.03 metres. Indias overall womens shot put
meeting, officers informed the Chief Minister about record remains 18.41 m. Abha Khatua set it at the
the chatbot's capabilities. It can process and Federation Cup 2024.
retrieve information from a vast database of over
17,820 official documents, covering 73,622 scanned 92. (b) In tennis, Brandon Holt of the USA clinched
PDF pages. Key documents in its knowledge base his second ATP Challenger singles title of the season
include directives, agendas, circulars, acts, policies, after beating Japans Shintaro Mochizuki 6-3, 6-3 in
notifications, and government orders. The release the Bengaluru Open 2025 tennis tournaments
said that the Chatbot was developed by HARTRON singles final today. Consequently, the 26-year-old
(Haryana State Electronics Development Holt became the first American winner in the
Corporation Limited), This chatbot is exclusively Bengaluru Open history. This was the ninth edition
based on the information contained in the official of the ATP Challenger 125 tennis tournament.
documents of the website. By providing answers Indian tennis player Anirudh Chandrasekar and
based only on these verified sources, it ensures a Chinese Taipeis Ray Ho beat Blake Bayldon and
high level of accuracy and reliability. It also offers Matthew Christopher Romios 6-2, 6-4 to win the
direct links to the relevant documents, ensuring doubles title.
complete transparency and allowing users to verify
the original sources themselves. The Chief Minister 93. (e) In Tennis, Indias Rithvik Choudary Bollipalli
further directed that if any equipment in civil and his Colombian partner Nicols Barrientos have
hospitals, CHCs or PHCs is damaged, then it should claimed the mens doubles title of the Chile Open in
be repaired immediately. The responsibility for Santiago. The Indian- Columbian duo upset top
ensuring timely repairs will be assigned to the seeds Maximo Gonzalez and Andres Molteni of
respective in-charge. Besides this, he said the need Argentina, 6-3, 6-2, in straight sets last night. This
to enhance the Beti Bachao-Beti Padhao campaign. is the first title of Rithvik and Nicolas as a team. In
The Chief Minister further said that first and second- the semifinal, the duo defeated the third seeds,

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Guido Andreozzi of Argentina and Theo Arribage of joint-winners of Champions Trophy in 2002 before
France 4-6, 7-6, 10-5. clinching the title again in 2013. All of Indias
matches were played in Dubai after the Indian
94. (d) Australian cricket legend Steve Smith has government refused permission for its team to visit
officially announced his retirement from One-Day official host Pakistan on security grounds. India
Internationals (ODIs), marking the end of an went through the entire tournament unbeaten after
illustrious 14-year career in the 50-over format. He wins against Bangladesh, Pakistan and New Zealand
will continue to be available for Test and T20I in the group phase, and then Australia in the
selection. Smiths decision came just after Australias semifinal. Captain Rohit Sharma was Player of the
semi-final defeat to India by four wickets in the ICC Match in the Final, thanks to his 76 off 83 balls that
Champions Trophy, Smith told his teammates after drove India towards triumph. New Zealand all-
the semifinal loss that hell retire from ODIs rounder Rachin Ravindra has been named player of
immediately. He said it feels like the right time to the tournament of ICC Champions Trophy 2025.
make way. It has been a great ride and he loved
every minute of it, Smith said. The 35-year-old 98. (a) Rohit Sharma, became the second-most
batter leaves behind an impressive legacy. Across successful Indian captain by clinching his second
170 ODIs, scoring 5800 runs at an average of 43.28 ICC title. Under Rohits captaincy, India lifted their
and a strike rate of 86.96, including 12 centuries second ICC silverware in less than nine months
and 35 half-centuries. He finished his career as the after winning the 2024 T20 World Cup against
12th-highest run-getter for Australia in ODIs. South Africa in Bridgetown. Rohit has joined the list
Having made his debut as a leg-spinning allrounder, with two ICC titles in less than a years gap to finish
he also picked 28 wickets and took 90 catches. He ahead of legendary cricketers Sourav Ganguly
captained Australia in 64 matches, winning 32 and (2002 Champions Trophy) and Kapil Dev (1983 ODI
losing 28. World Cup). India also became the first country to
win the Champions Trophy for a record third time in
95. (e) Veteran Bangladeshi cricketer Mushfiqur the eight-team tournaments history. Rohit became
Rahim has announced his retirement from One Day the first captain in international cricket to lead his
International (ODI) cricket. The 36-year-old team in the final of all four major ICC events. The
wicketkeeper-batsman announced the retirement. Rohit Sharma-led India won the 2024 T20 World
However, he confirmed that he will continue to Cup last year to end a more-than-decade-long ICC
represent Bangladesh in Test cricket. This decision title drought stretching to the Champions Trophy
comes after his earlier retirement from T20 win under MS Dhonis leadership in 2013.
Internationals in September 2022. A decorated
player with 274 ODIs to his name, Mushfiqur holds 99. (a) India will field 145 athletes in the World
the record for the most ODIs played for Bangladesh. Para Athletics Grand Prix 2025, set to take place at
The 37-year-old is the highest run scorer for the Jawaharlal Nehru Stadium in Delhi from March 11.
country, with 7,795 runs, featuring nine centuries The event, which will continue till the 13th of March,
and 49 fifties in the 50-over format. will witness the participation of another 105 para-
athletes from 19 countries. Several international
96. (b) Indian table tennis legend A. Sharath Kamal teams, including those from Saudi Arabia,
announced that he will retire later this month, Germany, Kazakhstan, Uzbekistan, the Philippines,
ending a career spanning more than 22 years at the Japan, Australia, Brazil, Nepal, Bhutan, and Sri
top of the sport. Sharath will bid farewell in front of Lanka, have already arrived in the National Capital
friends and family in Chennai, where the WTT Star and begun training, with more nations expected to
Contender event, his final tournament, will take join soon. The UAE enters the competition with
place from March 25 to 30. His impact on the sport strong momentum, having secured 21 medals at
extends beyond his achievements, which include the recently concluded Fazza Para Athletics Grand
seven Commonwealth Games gold medals, two Prix 2025 in Dubai. Kazakhstan, a powerhouse in
historic Asian Games bronze medals, and five the 2022 Asian Para Games with 41 medals,
Olympic appearances. including eight golds, will also aim for a dominant
performance. The three-day event will feature over
97. (b) India clinched a thrilling four-wicket win 90 competitions, bringing together top para-
over New Zealand in the final of Champions Trophy athletes from across the globe. The Grand Prix is
2025 to clinch the marquee ICC event for a record- expected to be a crucial preparatory event ahead of
breaking third time. Chasing 252 against the major international championships to be held later
Blackcaps, India reached home in 49 overs at the this including the World Para Athletics
Dubai International Cricket Stadium. India were the Championships.

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100. (a) Hockey Jharkhand edged past defending showcased their teamwork and skill, claiming a
champions Hockey Haryana 4-3 in a shootout after bronze medal. While India recorded 10 medals each
1-1 in regulation time to win the 15th Hockey India in Snowshoeing and Alpine Skiing, six medals came
Senior Women National Championship. Pramodni in Snowboarding. Short Track Speed Skating, Cross
Lakra (44') and Rani (42') scored in regulation time. Country Skiing and Floorball brought the country
Rajni Kerketta, Nirali Kujur, Binima Dhan, and four, two and one medal respectively.
captain Alebla Rani Toppo netted in the shootout,
while keeper Anjali Bhinjia's two crucial saves 103. (d) In the Womens Premier League cricket
sealed the win. In the bronze medal match, Hockey summit clash, Mumbai Indians clinched their second
Mizoram beat Hockey Maharashtra 2-1, with Manju title as Delhi Capitals choked for the third time in
Chorsiya (59') scoring the late winner. succession. In the summit clash played at the
Brabourne Stadium in Mumbai, Harmanpreet Kaurs
101. (d) The International Olympic Committee scintillating 44-ball 66 powered Mumbai Indians to a
(IOC) has approved the inclusion of boxing in the fighting 149 for the loss of 7 wickets. In reply, Delhi
2028 Los Angeles Olympics games. The decision Capitals batters put undue pressure on themselves
follows the IOCs granting of provisional recognition to finish at 141 for 9 despite late surge from
to World Boxing last month(February), effectively Marizanne Kapp and teenager Niki Prasad.
sidelining the International Boxing Association (IBA) Harmanpreet Kaur was awarded player of the match
and transferring authority to the new governing for her knock. Nat Sciver-Brunt was chosen as the
body. Welcoming the decision, World Boxing Most Valuable Player of the tournament. She also
President Boris van der Vorst, said this is a won the Orange Cap for her 523 runs this season.
significant decision for Olympic boxing and takes Amelia Kerr won the Purple Cap for her 18 wickets
the sport one step closer to being restored to the this season while Amanjot Kaur won the Emerging
Olympic programme. Boxing was not included in the Player of the Season award. This match was a
2028 LA Games initial sports programme approved rematch of the inaugural WPL final in 2023, where
by the IOC Session in February 2022, because of Mumbai Indians emerged victorious by seven
the ongoing concerns around the then-international wickets.
federation, IBA. Following the withdrawal of the
IBAs recognition on June 22, 2023, the inclusion of 104. (e) India will host the 11th Asian Swimming
boxing in the 2028 LA Games sports programme Championship at the Naranpura Sports Complex in
remained on hold. Following an assessment of the Ahmedabad. The Swimming Federation of India
various criteria regarding governance and sports announced that it has received in-principle approval
integrity, the IOC Executive Board on February 26 from both the Gujarat government and Asia
decided to provisionally recognise World Boxing, Aquatics to organize the championship. The event
which is currently composed of 84 national will take place from October 1 to 15. The event will
federations over the five continents. take place from October 1 to 15. The championship
will feature swimming, diving, artistic swimming,
102. (c) India clinched 12 medals in four events on and water polo. Swimmers from Japan and South
the final day, concluding their campaign at the Korea are expected to compete at the continental
Special Olympics World Winter Games with a total meet, marking the events first-ever edition in the
of 33 medals in Turin, Italy. India's medal tally country. The 10th Asian Age Group Championships
included 8 gold, 18 silver, and 7 bronze medals. In in 2019 was the last international swimming event
Snowshoeing, India secured four more medals, hosted by India.
adding to the six won earlier in the competition.
Vasu Tiwari, Shalini Chauhan, and Tanya each 105. (c) Indian wrestler Sunil Kumar won the
claimed a silver medal in the 25m Snowshoeing bronze medal in the 87kg Greco Roman bout of the
event, while Jahangir bagged a bronze in the same Asian Championship in Jordan. In the bronze medal
category. The Alpine Skiing segment also saw match, Sunil beat China's Jiaxin Huang after losing
stellar performances from Indian athletes. Radha in the semifinals of the 87kg bout in the continental
Devi and Nirmala Devi won silver medals in the tournament. Sunil, a silver medallist in 2019 who is
Intermediate Slalom (F01 and F04 categories, looking to regain some of his old magic, had earlier
respectively), while Abhishek Kumar secured registered a 10-1 victory over Tajikistan's Sukhrob
another silver in the Novice Slalom (M02 category). Abdulkhaev in the quarterfinal. He scored all of his
Akriti demonstrated remarkable endurance in Cross points in the second period. However, it was Iran's
Country Skiing, bagging a bronze medal in the Yasin Yazdi who marched into the 87kg final with a
100m Classical Technique (F02 category). In the 3-1 victory over Sunil in the semifinal clash.
Floorball event, Indian Women's Traditional Team

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106. (c) The Khelo India Para Games 2025 Patna between Hockey India and Bihar State Sports
concluded at JLN Stadium, New Delhi. The second Authority (BSSA) to handover the baton of host.
edition of the Khelo India Para Games witnessed The event will be organised between 29th August to
outstanding performances, with para-athletes 7th September 2025. A total of eight teams
securing more than 550 medals. In the medal tally, including top hockey-playing countries of Asia like
Haryana topped the chart with 34 gold, 39 silver, South Korea, India and Pakistan, will play in the
and 31 bronze medals. Tamil Nadu secured second tournament.
place with 28 gold, 19 silver, and 27 bronze medals,
while Uttar Pradesh finished third with 23 gold, 21 110. (c) City Union Bank (CUB) announced a
silver, and 20 bronze medals. This eight-day Khelo strategic partnership with Chennai Super Kings
India Para Games saw the participation of more (CSK), to introduce a new co-branded credit card.
than 1,300 para-athletes competing across six This collaboration offers fans of the franchise a
sports, including Para Archery, Para Athletics, Para chance to enhance their financial journey while
Badminton, Para Powerlifting, Para Shooting, and enjoying exclusive perks related to their love for
Para Table Tennis. Union Minister of State for Youth cricket. Cardholders will earn exciting rewards on
Affairs and Sports, Raksha Nikhil Khadse highlighted every purchase, with bonus points for CSK-related
that 18 national records were broken in this event, merchandise, match tickets, and experiences. The
also launched the Handbook on Accessibility of program includes special access to events, fan
Sports Facilities. meetups, and much more. And CSK fans will get
exclusive discounts and offers on official team
107. (b) Indian wrestlers continued their good run merchandise, enabling them to show off their team
on the second day of the Senior Asian Wrestling pride. Did you Know Vijay Anandh- Executive
Championship 2025, with Nitesh clinching the Director of City Union Bank.
second bronze medal for the country in Amman,
Jordan. Nitesh showcased remarkable skill and 111. (b) Magma General Insurance Limited
determination in the Greco-Roman category as he (Magma) has forged a strategic alliance with
added another bronze medal to the one that Sunil Hyundai India Insurance Broking Pvt. Ltd. (HIIB) to
Kumar had won in the mens 87kg. In the bronze enhance motor insurance accessibility across the
medal match, Nitesh handed Amanberdi country. Under this collaboration, HIIB will offer
Agamammedov of Turkmenistan a dominant 9-0 Magmas motor insurance policies for private and
defeat. commercial passenger vehicles through its
extensive network of 600 dealerships across India.
108. (c) Indias doubles specialist B. Sumeeth This partnership is aimed at providing vehicle
Reddy, a member of the 2022 Commonwealth owners with comprehensive insurance coverage
Games mixed team silver medal-winning squad, has against risks such as accidents, theft, natural
announced his retirement as an active badminton calamities, and third-party liabilities. By joining
player to focus entirely on coaching. The 33-year- forces, both companies seek to deliver seamless,
old from Hyderabad, who formed the mens doubles cost-effective, and easily accessible insurance
pair with Manu Attri and also played mixed doubles solutions to customers nationwide. Did you Know
with several shuttlers, including his wife N. Sikki Mr. Rajive Kumaraswami- Managing Director and
Reddy, made the announcement through social CEO of Magma General Insurance.
media.Sumeeth and Manu, who achieved the
highest world ranking of 17, won the 2016 South 112. (c) The Indian Institute of Foreign Trade (IIFT)
Asian Games gold medal, qualified for the Rio has signed a Memorandum of Understanding (MoU)
Olympics, and were also part of the mens team at with APEC Antwerp/Flanders Port Training Center,
the Asia Team Championships in Hyderabad. He Belgium, marking a significant step towards
represented India at the 2014 and 2018 Asian enhancing academic collaboration and knowledge
Games and won the 2015 Mexico City Grand Prix exchange in the fields of international trade,
and 2016 Canada Open, along with finishing as logistics, and supply chain management. The MoU
runner-up at the US Open and Dutch Open in 2015. aims to strengthen trade education and training ties
Along with Ashwini Ponnappa, Sumeeth also between India and Belgium by facilitating faculty
finished second at the 2017 Syed Modi and student exchanges for cross-cultural business
International. learning. It includes joint research on port
management, global logistics, and trade facilitation,
109. (b) Bihar will host Mens Hockey Hero Asia Cup along with specialized training programs,
2025 with support of Hockey India. This will be the workshops, and industry interactions. Additionally,
12th Edition of Asia Cup. A MoU was signed at the collaboration will enhance knowledge transfer in

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critical areas such as e-governance, digital trade, Inland Waterways Authority of India has been
and emerging business technologies. Following the actively promoting cruise tourism in India and the
MoU signing, a roundtable discussion was held agreement with the Government of Jammu and
between the Minister-President of Belgium and IIFT Kashmir aims to further boost tourism, generate
alumni who had previously visited Flanders, sharing employment, boost economic growth and provide a
their experiences and key takeaways from the new mode of leisure/budget tourism on rivers in
program. About IIFT: Established in 1963 as an Jammu and Kashmir. Of the 111 national waterways
autonomous body under the Ministry of Commerce, in the country, Union Territory of Jammu and
the Indian Institute of Foreign Trade (IIFT) has Kashmir has three declared national waterways,
gained Deemed University status and is one of the i.e., River Chenab (NW-26), River Jhelum (NW-49)
premier business institutions in India, focusing on and River Ravi (NW-84). Within a period of two
Foreign Trade. It is highly regarded as an academic months, IWAI took a significant step to develop
center of excellence in international business river cruise tourism in the UT of Jammu and
research, training, and education. About APEC Kashmir for an approximate cost of Rs 100 crore.
Antwerp/Flanders Port Training Center: APEC is a The Authority has rolled out initiatives to boost
leading training institute affiliated with the Port of cruise tourism on River Ganga and River
Antwerp-Bruges, providing specialized programs in Brahmaputra. The success of worlds longest cruise
port management, trade facilitation, and logistics, MV Ganga Vilas underlines the same. The
contributing to global capacity building in the partnership between IWAI and Jammu and Kashmir
maritime and trade sectors. government is an exciting initiative that promises to
promote sustainable tourism practices while
113. (c) India Semiconductor Mission (ISM), Tata stimulating local economic growth.
Electronics Private Limited (TEPL), and Tata
Semiconductor Manufacturing Private Limited 115. (d) Coal India Limited (CIL) has inked a
(TSMPL) have signed Fiscal Support Agreement memorandum of understanding (MoU) with Indian
(FSA) in the presence of Chief Minister of Gujarat Institute of Technology, Hyderabad (IIT-H), on 7
Shri Bhupendra Patel for India's first commercial March, for establishing a Centre of Clean Coal
semiconductor fab in Dholera, Gujarat. This Energy and Net Zero (CLEANZ) at Hyderabad. The
breakthrough agreement represents a decisive step joint initiative between CIL and IITH aims to
forward in strengthening India's technological self- develop clean coal technologies and diversification
reliance under the modified programme for in coal utilization. Both the entities will synergize
semiconductor & display manufacturing ecosystem their efforts in developing cutting edge technology
in India. Tata Electronics semiconductor fab in the readiness level (TRL) for sustainable utilization of
Dholera (SIR) commands a total investment of over Indian coal. This is in line with the countrys Net
Rs. 91,000 crore with a capacity of 50,000 wafers Zero commitments. The Coal Ministry is also keen in
starts per month (WSPM). India Semiconductor developing research capabilities in coal sector and
Mission, Tata Electronics, and Tata Semiconductor advised to take up research projects relevant to
Manufacturing Sign Fiscal Support Agreement. The Indias coal and energy sectors.
Government of India, through India Semiconductor
Mission, has committed 50% fiscal support on a 116. (b) The Small Industries Development Bank of
pari-passu basis for eligible project costs India (SIDBI) and The Federal Bank Limited (FBL)
demonstrating unwavering national commitment to on Thursday announced that they have signed a
building a world-class semiconductor ecosystem Memorandum of Understanding (MoU) to provide
within Indian borders. The strategic fiscal support financial support to micro, small, and medium
from the Government of India will accelerate the enterprises (MSMEs). This partnership aims to
transformative expansion of the country's strengthen the MSME ecosystem by offering various
semiconductor industry, positioning India as a key financial services, including project finance,
player on the global semiconductor stage and machinery and equipment finance, working capital
launching a new era of technological self-reliance support, and loans against property. Under this
for the nation. agreement, both institutions will also explore joint
financing options to extend credit facilities to
114. (b) The Inland Waterways Authority of India MSMEs. The collaboration is expected to help
(IWAI) under the Ministry of Ports, Shipping and businesses access funds more efficiently, enabling
Waterways has signed a Memorandum of their growth and development. The collaboration is
Understanding (MoU) with the Government of expected to help businesses access funds more
Jammu and Kashmir (J&K), to boost river cruise efficiently, enabling their growth and development.
tourism on three National Waterways in J&K. The Prime Minister Narendra Modi on March 4 reaffirmed

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the governments commitment to strengthening the mitigating financial risks for borrowers. Did you
MSME sector, calling it the backbone of Indias Know Mr. Sachindra Salvi, Managing Director &
manufacturing and industrial growth. CEO- GIC Housing Finance Limited

117. (a) The Department for Promotion of Industry 120. (e) PM Surya Ghar: Muft Bijli Yojana
and Internal Trade (DPIIT) and Mercedes-Benz (PMSGMBY), the worlds largest domestic rooftop
India Private Limited have signed a Memorandum of solar initiative, has achieved a significant milestone
Understanding (MoU) to advance Indias by completing 10.09 lakh installations across the
manufacturing ecosystem, road safety, and country as of 10th March 2025. This ambitious
environmental sustainability. The partnership aims scheme, launched by Prime Minister Shri Narendra
to support startups, innovators, and entrepreneurs Modi on 13th February 2024, aims to provide free
in achieving technological excellence and, fostering electricity through rooftop solar systems to 1 crore
societal development. The collaboration will focus residential households and reduce dependence on
on creating structured programs that provide conventional power sources while enabling citizens
startups with infrastructure, mentorship, funding to become energy producers. The scheme enables
opportunities, and market linkages. The initiative every household to contribute to climate change
will also facilitate international collaborations and mitigation by reducing carbon emissions equivalent
ensure knowledge exchange to drive long-term to planting 100 trees. The scheme, implemented by
impact. Did you Know Managing Director, the Ministry of New and Renewable Energy (MNRE)
Mercedes-Benz India- Shri Santosh Iyer. has received 47.3 lakh applications. 6.13 lakh
beneficiaries have successfully received subsidies,
118. (d) The Union government appointed justice amounting to 4,770 crore. Under Prime Minister
Joymalya Bagchi as a judge of the Supreme Court, Shri Narendra Modi's leadership, a key feature of
following the recommendation made by the the PM Surya Ghar: Muft Bijli Yojana is the
Supreme Court collegium. With this elevation, provision of collateral-free loans through 12 Public
justice Bagchi is set to become the Chief Justice of Sector Banks (PSBs) at a subsidized interest rate of
India (CJI) in May 2031, albeit for a little over four 6.75% for loans up to Rs. 2 lakhs, making rooftop
months, before retiring on October 2, 2031. His solar installations more accessible to the masses.
appointment fills one of the two vacancies in the With the easy loan facility, a 3 KW rooftop solar
Supreme Court, which has a sanctioned strength of system could be installed with an investment as low
34 judges. The Supreme Court collegium, as Rs. 15,000/- giving returns up to Rs. 15 lakh in
comprising Chief Justice of India Sanjiv Khanna and 25 years. Loan application process is also fully
justices Bhushan R Gavai, Surya Kant, Abhay S Oka automated and online. So far, 3.10 lakh loan
and Vikram Nath, had recommended Justice applications have been received, with 1.58 lakh
Bagchis appointment on March 6. Justice Bagchi loans sanctioned and 1.28 lakh disbursed, ensuring
was appointed as a judge of the Calcutta high court wider accessibility for potential beneficiaries.
in June 2011. In January 2021, he was transferred Beneficiaries receive subsidy of upto Rs. 78000 for
to the Andhra Pradesh high court, before being upto 3KW rooftop solar system, significantly
repatriated to the Calcutta high court in November reducing installation costs. The scheme has a total
2021. Over his 13-year tenure as a high court outlay of Rs. 75,021 crore. As of 10th March 2025,
judge, he has gained extensive experience across the scheme has facilitated the installation of over 3
diverse fields of law. GW of rooftop solar capacity, with an additional 27
GW targeted by March 2027. This initiative is also
119. (a) Canara HSBC Life Insurance Company driving the local production of inverters and Balance
Limited (Canara HSBC Life Insurance) has of Plant (BoP) components, further strengthening
announced a strategic partnership with GIC Housing Indias renewable energy ecosystem and enhancing
Finance Limited (GICHF) to provide credit life the Make in India vision. The scheme has seen
insurance solutions to home loan borrowers. This remarkable progress across several states. Notably,
collaboration aims to ensure financial security for Chandigarh and Daman & Diu have achieved 100%
borrowers and their families by offering protection of their government building rooftop solar targets,
against loan liabilities, in case of unforeseen leading the nation in clean energy adoption. States
circumstances. As part of this partnership, Canara like Rajasthan, Maharashtra, Gujarat, and Tamil
HSBC Life Insurance will introduce its Group Asset Nadu are also performing exceptionally well,
Secure plana specialised credit life insurance contributing significantly to the overall installation
productthrough GIC Housing Finances extensive figures. The Government is actively monitoring the
customer network. This initiative aligns with the progress across all states to ensure the smooth and
broader vision of promoting homeownership while

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timely execution of the scheme, with the goal of part of this initiative, the Department of Posts
reaching 1 crore households by 2026-27. (DoP), under the Ministry of Communications, has
signed a Memorandum of Understanding (MoU) with
121. (b) A significant Memorandum of the Foundation for Science Innovation and
Understanding (MoU) between National Highways Development (FSID), Indian Institute of Science
Logistics Management Limited (NHLML) and Inland (IISc), Bengaluru, for designing and documenting
Waterways Authority of India (IWAI) was signed in the technology architecture for the Digital Address
the presence of Union Minister of Road Transport Digital Public Infrastructure (DPI). The collaboration
and Highways, Shri Nitin Gadkari and Union Minister between the Department of Posts and FSID, IISc
of Ports, Shipping and Waterways, Shri Sarbananda marks a significant step towards a seamless,
Sonowal. The 150-acre park is strategically efficient, and technology-driven addressing system,
connected to NH7 via a 650m access road and is reinforcing Indias leadership in digital innovation.
just 1.5 km from the NH7-NH2 junction. It will
seamlessly integrate with the Eastern Dedicated 124. (b) As part of the Governments efforts to
Freight Corridor through a 5.1 km railway line from strengthen indigenous defence capabilities of the
Jeonathpur Station and National Waterway-1 and is country, Ministry of Defence has inked a capital
located 30 km from Lal Bahadur Shastri Airport. acquisition contract with Bharat Electronics Limited
(BEL), Ghaziabad for the procurement of Low-level
122. (e) The Department of Biotechnology (DBT) Transportable Radar, LLTR (Ashwini) at a cost of Rs
and the Government of Assam signed a landmark 2,906 crore. The radar is indigenously designed and
Memorandum of Understanding (MoU) under the developed by Electronics & Radar Development
BioE3 (Biotechnology for Economy, Environment, Establishment, DRDO. The contract was signed in
and Employment) Policy. This Centre-State the presence of Defence Secretary Shri Rajesh
partnership is the first of its kind under the BioE3 Kumar Singh in New Delhi on March 12, 2025. LLTR
framework and aims to accelerate high-performance (Ashwini) is an active electronically scanned phased
biomanufacturing, while fostering a sustainable array radar based on state-of-the-art solid state
biotechnology ecosystem in Assam. The MoU technology. The radar is capable of tracking aerial
signing is a culmination of extensive consultations, targets from high-speed fighter aircraft to slow
high-level meetings, and collaborative efforts made moving targets such as Unmanned Aerial Vehicles
by the DBT and the Government of Assam. A and helicopters. Its acquisition will significantly
landmark step in this journey was the Centre-State enhance the operational preparedness of the Indian
Partnership Conclave held under the Air Force.
chairpersonship of Union Minister of Dr. Jitendra
Singh. The BioE3 Policy, approved by the Union 125. (d) The Department for Promotion of Industry
Cabinet on 24th August 2024, envisages to and Internal Trade (DPIIT) has signed a
establish India as a global leader in bio-based Memorandum of Understanding (MoU) with YES
innovations, emphasizing sustainable BANK. This collaboration aims to foster innovation
biomanufacturing across various thematic areas and provide crucial support to product startups,
including bio-based chemicals, APIs, biopolymers, innovators, and entrepreneurs across the country.
enzymes, climate-resilient agriculture, functional The partnership will leverage DPIITs Startup India
foods, smart proteins, carbon capture& utilization, initiative and YES BANKs financial expertise to
precision biotherapeutics (cell & gene therapy, facilitate market linkages, funding access,
mRNA therapeutics & monoclonal antibody), as well mentorship, and infrastructure support for early-
as futuristic marine and space research. By stage ventures. Startups will benefit from YES
integrating these diverse fields, the Policy seeks to BANKs HeadStartup program, which offers tailored
drive both economic growth and environmental banking and financial solutions, including working
sustainability. These Sectors will be augmented by capital, credit access, and, cash flow management.
BioEnablers (setting up of Biofoundries, Additionally, they will gain access to YES BANKs
Biomanufacturing and BioAI Hubs). extensive network, strategic partnerships, and
industry expertise, enabling them to scale
123. (b) Department of Posts has undertaken an operations and attract investments effectively. This
initiative namely Digital Address Code aimed at collaboration marks a significant step toward
establishing a digital public infrastructure for a creating a robust and self-sustaining startup
standardized, geo-coded addressing system in India ecosystem in India.
ensuring simplified addressing solutions for citizen-
centric delivery of public and private services to 126. (b) The Department for Promotion of Industry
establish Address as a Service (AaaS) in India. As a and Internal Trade (DPIIT), Government of India,

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and Kyndryl Solutions Pvt Ltd, have signed a transmission process with the relevant financial
Memorandum of Understanding (MoU) to accelerate institutions. Sebi has directed asset management
innovation and scale Indias startup ecosystem. The companies (AMCs), RTAs, and depositories to
partnership will focus on supporting startups in the register with DigiLocker to allow investors to fetch
manufacturing and IT sectors by leveraging their mutual fund and demat account details. KRAs
Kyndryls expertise in digital transformation and will also share information on investor deaths with
Generative AI solutions. Under this partnership, DigiLocker. Through this, Sebi aims to reduce
startups will be empowered through mentorship, unclaimed assets in the securities market by
infrastructure support, and market access, enabling addressing issues such as dormant accounts, lack of
them to integrate their solutions into enterprise contact or bank details, and simplifying
ecosystems across industries such as automotive, transmission norms. Sebi has encouraged to use
pharmaceuticals, BFSI, oil & gas, and government DigiLocker and specify nominees to help manage
services. their financial assets upon death and avoid
unclaimed assets. The circular would come into
127. (b) The Armed Forces Medical Services and effect from April 1, 2025, the Securities and
the National Institute of Mental Health and Exchange Board of India (Sebi) said.
Neurosciences (NIMHANS) have signed a
Memorandum of Understanding (MoU), for 129. (b) The CSIR - Indian Institute of Integrative
collaborative research and training aimed at Medicine (CSIR-IIIM), Jammu, signed a
enhancing mental health support and care for the Memorandum of Understanding (MoU) with M/S
Armed Forces. The key objectives of the MoU HAPICO Industries Private Limited on 20 March
include collaborative research, faculty exchange and 2025 to jointly develop novel biopesticides. This
academic activities. NIMHANS, with its expertise in strategic partnership aims to address the
Neuropsychiatry, will provide help in conducting detrimental impact of chemical pesticides on human
research on advanced Psychiatric care and support health and the environment. Given the rich
to military personnel, addressing common issues biodiversity of medicinal and aromatic plants, the
such as Post Traumatic Stress Disorders (PTSD), collaboration seeks to harness their potential for
Anxiety, and Depression. developing innovative and sustainable biopesticide
solutions. The agreement signing ceremony was
128. (a) Markets regulator Sebi partnered with jointly organized by the RMBD&IST and FMB
DigiLocker, a government-backed digital document Divisions, under the overall supervision of Er Abdul
storage platform, to reduce unclaimed assets in the Rahim, Head, RMBD&IST Division, and under the
Indian securities market and enhance investor CSIR-IIIM, Jammu.
protection. The initiative will help investors store
and access information on their demat and mutual 130. (d) In a significant move to enhance disaster
fund holdings through DigiLocker benefiting resilience and emergency communication, Centre
investors and their families. Under this, DigiLocker for Development of Telematics (C-DOT), the
users can now fetch and store their statement of Telecom R&D centre of the Department of
holdings for shares and mutual fund units from their Telecommunications (DoT), Government of India,
demat accounts, along with their Consolidated has signed an agreement with Indian Institute of
Account Statement (CAS), Sebi said in a circular. Technology Delhi (IIT Delhi) for the development of
This expands the existing DigiLocker services, which a, Generative AI-Enhanced Chatbot for Customer
already include bank account statements, insurance Support in Disaster Early Warning and Emergency
policy certificates, and NPS account statements. Communication. This initiative aligns with the
Further, users can add nominees to their DigiLocker broader vision of enabling automated and reliable
accounts, allowing them access to the user's communication services and strengthening India's
documents after their demise. This helps family disaster preparedness infrastructure. The AI-
members or legal heirs manage the deceased's powered chatbot will provide real-time multilingual
financial assets more easily. Also, the DigiLocker assistance to disaster managers, first responders,
system can update the status of a user's account and affected communities by leveraging advanced
upon their demise using information from death Natural Language Processing (NLP), Text-to-Speech
certificates or, details provided by KYC Registration (TTS), Speech-to-Text (STT), and Image Processing
Agencies (KRAs). After the user's death, DigiLocker techniques. It will integrate with 3GPP-compliant
automatically notifies the nominated individuals emergency communication protocols to ensure
(DigiLocker Nominees) via SMS and email, helping seamless coordination during crises. Additionally,
them manage the deceased's assets. This access is the solution will be fully on-premise, ensuring
expected to facilitate the initiation of the cybersecurity compliance, data privacy, and high

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availability for mission-critical applications. The Bandhan Bank. The collaboration with IAF for the
solution will be integrated with the existing Disaster Shaurya Salary Account is in addition to the Bank
Management System of NDMA developed by C-DOT being a SPARSH Service Centre to the Defence
to enhance the capability of the platform. personnel where the Bank partnered with the
Controller General of Defence Accounts (CGDA), to
131. (d) The Ministry of Statistics and Programme establish SPARSH Service Centres for providing
Implementation (MoSPI), in collaboration with the services to Defence pensioners and their families
Indian Institute of Management Ahmedabad (IIMA), through 557 designated branches. The Reserve
organized a workshop on "Emerging Trends in Bank of India has appointed the Bandhan Bank as
Public Data and Technology for Research and Policy" an Agency Bank and has been authorised by the
at the IIM Ahmedabad campus. This initiative aligns Central Boards of Direct Taxes and Indirect Taxes
with MoSPI's ongoing efforts to enhance the for collections of taxes, and disbursement of Central
national data ecosystem and advance evidence- Civil Pension and among others.
based policymaking. A major milestone of the
workshop was the signing of a Memorandum of 134. (e) The Unique Identification Authority of India
Understanding (MoU) between MoSPI and IIMA. (UIDAI), in collaboration with IIIT-Hyderabad has
This partnership will serve as a framework for launched a large-scale competition to test age
collaborative efforts in data innovation, ensuring invariance in biometric algorithms. The first phase
that academic research contributes effectively to of the Biometric SDK Benchmarking challenge
policy development. As a precursor to the focuses on fingerprint authentication, testing 1:1
workshop, a focused session with IIMA faculty was matching algorithms for children aged 5-10 years,
conducted in the forenoon. The session explored with updates after 5-10 years. UIDAI ensures that
avenues for leveraging the expertise of both participant submissions are evaluated securely, with
institutions to enhance data-driven policy support. anonymized datasets and no sharing of data with
participants. The challenge offers prizes worth Rs.
132. (c) Society for Applied Microwave Electronics 7.7 lakhs (USD 9,000) and the opportunity to
Engineering & Research (SAMEER) and All India collaborate with UIDAI in advancing biometric
Institute of Medical Sciences (AIIMS), New Delhi technologies. Following the fingerprint challenge,
signs MoU for collaborative research on medical UIDAI will also launch SDK benchmarking
devices on the 32nd Foundation Day of Department competitions for iris and face authentication.
of NMR, AIIMS, New Delhi. The MOU encompasses Aadhaar is serving as a key pillar of good
five key areas: Collaborative Research in Medical governance and digital inclusion in India and
Devices Development Clinical Validation of Aadhaar number holders are carrying out nearly 90
Indigenous 1.5 T MRI System developed by million authentication transactions daily for availing
SAMEER, Mumbai Collaborative Research in AI/ML various services and benefits.
for Image Enhancement and Accelerated Imaging
Design and Development of Subsystems of 135. (a) The Ministry of Rural Development (MoRD)
High/Low Field MRI Scanner Development of RF and United Nations Childrens Fund (UNICEF)
Subsystems for High Field Animal MRI Scanners YuWaah have signed a Statement of Intent (SOI) to
Indigenous Magnetic Resonance Imaging (IMRI) A empower rural women and youth across India. This
National Mission, sponsored by MeitY is being three-year partnership focuses on creating
implemented at SAMEER, Mumbai as nodal agency livelihood opportunities by connecting women from
and C-DAC (Trivandrum), C-DAC (Kolkata), IUAC Self-Help Groups (SHGs) to jobs, self-employment,
(New Delhi), DSI-MIRC (Bangalore) as collaborating entrepreneurship, and skill-building initiatives,
agencies with the objective to design, develop and thereby boosting female labour force participation in
test an indigenous 1.5 Tesla MRI system for medical rural areas. As part of the collaboration, efforts will
imaging. be made to strengthen digital infrastructure through
the establishment of Computer Didi Centers and
133. (c) Bandhan Bank announced that it has Didi ki Dukan in five blocks across five states,
executed a Memorandum of Understanding (MoU) namely- Andhra Pradesh, Jharkhand, Madhya
with the Indian Air Force (IAF) to provide Bandhan Pradesh, Odisha and Rajasthan. This pilot project
Bank Shaurya Salary Account, a Corporate Salary has the potential to scale up and reach 35 lakh
account specially designed for defence personnel. women across more than 7000 blocks after being
IAF personnel can avail a host of exclusive benefits successful. The partnership will also feature
like a Zero Balance savings account, protection for innovative initiatives, such as Youth Hub, a cutting-
self and family, and attractive interest rates edge aggregator platform for jobs, skilling, and
amongst others from more than 1700 branches of volunteering

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136. (c) The Chhattisgarh government has signed a 138. (c) The Union Cabinet, chaired by Prime
memorandum of understanding (MoU) with the Minister Shri Narendra Modi, has approved the
National Association of Software and Services Revision of Livestock Health and Disease Control
Companies (Nasscom) to boost the states Programme (LHDCP). The scheme has three
development and generate employment components namely National Animal Disease
opportunities. Underlining the possibilities in the Control Programme (NADCP), LH&DC and Pashu
skill sector, Chief Minister Vishnu Deo Sai met Aushadhi. LH&DC has three sub-components i.e.
Nasscom Vice-President Srikant Srinivasan and Critical Animal Disease Control Programme
other representatives at the Investors Connect (CADCP), Establishment and Strengthening of
meet held in Bengaluru. Under its new industrial existing Veterinary Hospitals and Dispensaries -
policy, Chhattisgarh has attracted investment Mobile Veterinary Unit (ESVHD-MVU) and
proposals worth ~4.4 trillion. The development of Assistance to States for Control of Animal Diseases
Naya Raipur as an Information technology (IT) hub (ASCAD). The Pashu Aushadhi is new component
is a key component of the strategy, with several IT added to the LHDCP scheme. The total outlay of the
companies starting operations. Industrialists have scheme is Rs.3,880 crore for two years i.e. 2024-25
also shown an interest in green fuel in Chhattisgarh. and 2025-26, which includes provision of Rs. 75
The spokesperson said Deepak Agarwal, of GPSR crore to provide good quality and affordable generic
Arya, met the CM and informed him that the veterinary medicine and incentive for sale of
company was working on making compressed bio- medicines under Pashu Aushadhi component. The
gas (CBG), from stubble in the state. He discussed scheme will help in prevention and control of
plans to set up CBG plants in various districts of livestock diseases through vaccination, surveillance
Chhattisgarh, which can give additional income to and upgradation of healthcare facilities.
the farmers and will also reduce pollution. The
company recently set up a CBG plant in 139. (b) To facilitate Cooperative Sugar Mills
collaboration with Indian Oil in Bemetara district. (CSMs), Department of Food & Public Distribution,
Government of India, has notified a scheme for
137. (a) As part of the National Green Hydrogen CSMs under modified Ethanol Interest Subvention
Mission, the Government has initiated five pilot Scheme for Conversion of their existing sugarcane-
projects for using Hydrogen in buses and trucks. based feedstock ethanol plants into multi-feedstock
Earlier the Ministry of New and Renewable Energy based plants to use grains like Maize and Damaged
had issued guidelines for implementing Pilot Food Grains (DFG). Under this modified Ethanol
projects in the Transport Sector under this Mission. Interest Subvention Scheme, Government is
Accordingly, the proposals were invited for different facilitating entrepreneurs with Interest subvention
types of hydrogen-based vehicles, routes, and @ 6% per annum or 50% of rate of interest
hydrogen refueling stations. After detailed scrutiny, charged by banks/financial institutions, whichever is
the Ministry of New and Renewable Energy has lower, on the loans to be extended by
sanctioned five pilot projects consisting total of 37 banks/financial institutions is being borne by the
vehicles (buses and trucks), and 9 hydrogen Central Government for five years including one-
refueling stations. The vehicles that will be deployed year moratorium. The sugarcane crushing period is
for the trial include 15 hydrogen fuel cell-based limited to 4-5 months only in a year due to which
vehicles and 22 hydrogen internal combustion sugar mills can operate for a limited period of time.
engine- based vehicles. These vehicles will run on To ensure the functioning of Cooperative Sugar Mills
10 different routes across the country viz., Greater (CSMs) throughout the year, their existing ethanol
Noida Delhi Agra, Bhubaneshwar Konark Puri, plants can be converted into multi-feedstock based
Ahmedabad Vadodara Surat, Sahibabad Faridabad plants to use grains like maize and DFG under the
Delhi, Pune Mumbai, Jamshedpur Kalinga Nagar, new modified scheme. The conversion to multi-
Thiruvananthapuram Kochi, Kochi Edappally, feedstock based plants would not only make the
Jamnagar Ahmedabad, and NH-16 Visakhapatnam existing ethanol plants of CSMs capable of operating
Bayyavaram. The above projects are awarded to when sugar based feedstocks are not available for
major companies like TATA Motors Ltd, Reliance ethanol production but will also improve efficiency
Industries Limited, NTPC, ANERT, Ashok Leyland, and productivity of these plants. As a result, these
HPCL, BPCL, and IOCL. The total financial support cooperative ethanol plants will have increased
for selected projects made available will be around financial viability. The Government of India has
Rs. 208 Crore from the Government of India. These been implementing Ethanol Blended with Petrol
pilot projects are likely to be commissioned in the (EBP) Programme throughout the country. Under
next 18-24 months. EBP Programme, Government has fixed the target
of 20% blending of ethanol with petrol by 2025. The

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Government has notified various ethanol interest component. Funds are allocated for the said
subvention schemes from July 2018 to April 2022. Scheme of Scholarship and Fellowship for Promotion
of Art and Culture having no separate
140. (a) The Uttarakhand Cabinet, under the state/component wise allocation of funds.
chairmanship of Chief Minister Pushkar Singh
Dhami, has approved the implementation of the 142. (e) India's leading private sector bank, HDFC
Central Government's Unified Pension Scheme for Bank will now accept deposits under the Senior
officers and employees in the state. The decision Citizens Savings Scheme (SCSS), a savings
was taken during a cabinet meeting. The Unified instrument run by the Government of India for the
Pension Scheme (UPS) has been introduced as an elderly. As of March 17, 2025, the Senior Citizen
option under the National Pension System (NPS) by Savings Scheme (SCSS) interest rate is 8.2% per
the Central Government for the CentralGovernment annum. This rate is fixed by the government and is
employees covered under NPS so that they may applicable for the period from April 1, 2024, to
receive an assured payout after their retirement. March 31, 2025. Customers eligible for this scheme
The Unified Pension Scheme will be operational include individuals at or above the age of 60 and
from April 1, 2025. The Uttarakhand cabinet people who have superannuated at/above the age
approved the new Excise Policy 2025. A statement of 55 years. Further, retired personnel of Defence
from the government said that the state's new Services are also eligible to apply for the scheme on
Excise Policy 2025 has decided to close liquor attaining the age of 50 years. Investment in SCSS
licenses near religious places, considering their is eligible for benefits under Section 80C of the
importance. Furthermore, keeping public Income-Tax Act. The scheme offers a quarterly
sensitivities paramount, more control will be interest payout with a five-year lock-in period. It is
exercised over the sale of liquor. Sub-shops and the extendable by three years, multiple times. In
metro liquor sales system have been abolished. In addition, the rate of interest offered under SCSS is
the new Excise Policy, if a shop charges more than notified by the Government from time to time.
MRP, the license can be canceled. MRP will also SCSS complements the Banks existing government-
apply to departmental stores, which will protect backed offerings like the Public Provident Fund and
consumers' interests. Excise revenue has increased the Sukanya Samriddhi Account Scheme. In FY24,
significantly in the state in the last two years. tax collections across the country by HDFC Bank
crossed Rs 10 lakh crore,making it rank among the
141. (e) The Ministry of Culture is implementing a top three agency banks for the Government,
financial grant Scheme by the name of Scholarships according to data reported by the Press Information
to Young Artists in Different Cultural Fields (SYA) to Bureau and the Controller General of Accounts,
support young artists specialising in various cultural Government of India.
fields such as classical dance forms, indigenous
artwork and other traditional art-forms for 143. (d) The Mutual Credit Guarantee Scheme for
undergoing advanced training in their respective MSMEs (MCGS- MSME) has been launched for
fields. Under this scheme component, a Scholarship providing 60% guarantee coverage by National
of Rs. 5,000/- per month is provided upto a Credit Guarantee Trustee Company Limited
maximum of 400 Scholars for a period of 02 years (NCGTC) to Member Lending Institutions (MLIs) for
in four equal six-monthly instalments. The selected credit facility up to Rs.100 crore sanctioned to
scholars should be in the age group of 18 years to eligible MSMEs under MCGS-MSME for purchase of
25 years and have been undergoing training under equipment/ machinery. The Mutual Credit
any Guru or Institution for a minimum of 5 years. Guarantee Scheme for MSMEs (MCGS- MSME) has
The Scholars are selected on the basis of their been launched for providing 60% guarantee
performance in a personal interview / interaction coverage by National Credit Guarantee Trustee
before an Expert Committee constituted by the Company Limited (NCGTC) to Member Lending
Ministry. The State-wise details regarding the total Institutions (MLIs) for credit facility up to Rs.100
number of beneficiaries selected across the country, crore sanctioned to eligible MSMEs under MCGS-
including the State of West Bengal, under the MSME for purchase of equipment/ machinery. The
Scheme of Scholarship to Young Artists in Different eligibility criteria for borrowers under Mutual Credit
Cultural Fields during the last five years are given at Guarantee Scheme for MSMEs (MCGS-MSME) is as
Annexure-I. Ministry of Culture is administering, below: i. It should be an MSME with valid Udyam
inter-alia, a Central Sector Scheme by the name of Registration Number; ii. It should not be an NPA
Scheme of Scholarship and Fellowship for Promotion with any lender; iii. Minimum cost of equipment
of Art and Culture of which, Scholarships to Young /machinery is 75% of project cost; The Scheme is
Artists in different Cultural Fields is one of the being implemented by National Credit Guarantee

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Trustee Company Limited (NCGTC), a wholly owned subscribers with age limit of 18 to 40 years not
company of Department of Financial Services, covered under any organized pension Scheme.
Ministry of Finance, Government of India. The MLI Under this scheme, the subscribers would receive
shall sanction loans to eligible borrowers and then the fixed minimum pension of Rs. 1000, Rs. 2000,
submit details of the loan account on the portal of Rs. 3000, Rs. 4000 and Rs. 5000 per month, at the
NCGTC along with payment of fees, whereupon the age of 60 years, depending on the contributions. As
MLI shall get a confirmation of loan being on 07.03.2025, enrolments under this scheme are
guaranteed under the Scheme. The Scheduled 7.49 crore. iv. Pradhan Mantri Mudra Yojana
Commercial Banks (SCBs) / All India Financial (PMMY): The Scheme provides access to
Institutions (AIFIs) and Non-Banking Finance institutional finance to micro/small business units
Companies (NBFCs), shall be the eligible MLIs under up to Rs.20 lakh for income generating activities
the Scheme, subject to execution of an agreement such as manufacturing, trading, services, activities
by them with NCGTC. allied to agriculture. As on 28.02.2025, 52.07 crore
loans amounting to Rs. 33.19 lakh crore have been
144. (e) The Government initiated the National sanctioned since inception of the Scheme. v. Stand
Mission for Financial Inclusion (NMFI), namely the Up India Scheme (SUPI): The Scheme aims to
Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, promote entrepreneurship among people from
2014 to provide universal banking services for Schedule caste/Schedule tribe and woman. The
every unbanked adult based on the guiding Scheme facilitates bank loans between Rs.10 lakh
principles of banking the unbanked, securing the and Rs.1 crore to one Scheduled Caste/ Scheduled
unsecured, funding the unfunded and serving Tribe borrower and one-woman borrower per bank
unserved and underserved areas.The Government branch of Scheduled Commercial Banks for setting
initiated the National Mission for Financial Inclusion up greenfield enterprises in trading, manufacturing
(NMFI), namely the Pradhan Mantri Jan Dhan and services sector. As on 07.03.2025, 2.67 lakh
Yojana (PMJDY) in August, 2014 to provide loans amounting to Rs. 60,504 crores have been
universal banking services for every unbanked adult sanctioned since inception of the Scheme. vi. PM
based on the guiding principles of banking the Vishwakarma Scheme: The Scheme, launched on
unbanked, securing the unsecured, funding the 17.09.2023, is being administered jointly by
unfunded and serving unserved and underserved Ministry of Small & Medium Enterprises (MSME) and
areas. A total of 55.02 crore Jan-Dhan accounts Ministry of Skill Development & Enterprises and
have been opened till 07.03.2025, out of which, Department of Financial Services. It aims to provide
36.63 crore accounts are in rural and semi-urban end-to end holistic support to traditional artists and
areas. In addition to the PMJDY, the following craftspeople engaged in 18 identified trades through
schemes have also been launched to provide access to skill training, collateral-free credit,
affordable financial services for all, especially modern tools, market linkage support and incentive
marginalized and underserved populations: i. for digital transactions. vii. Prime Minister Street
Pradhan Mantri Suraksha Bima Yojana (PMSBY): Vendor's Atma Nirbhar Nidhi (PMSVANidhi): The
The Scheme is a one-year personal accident Scheme is being administered by Ministry of
insurance scheme, renewable from year to year, Housing & Urban Affairs (MoHUA). It was launched
offering coverage of Rs. 2 lakh for death or on June 01, 2020 with the main objective of
permanent total disability and Rs. 1 lakh for providing relief to street vendors affected by Covid-
permanent partial disability due to an accident at a 19 lockdown. The Scheme envisages empowering
premium of Rs. 20/- per annum. It is available to street vendors by not only extending loans to them
people in the age group of 18 to 70 years having a but also for their holistic economic development.
bank account who give their consent to join the Further, from time to time, camps are conducted at
scheme. As on 07.03.2025, cumulative enrolment village level to promote awareness about various
under PMSBY is 50.30 crore. ii. Pradhan Mantri financial inclusion schemes and to enrol more
Jeevan Jyoti Bima Yojana (PMJJBY): The Scheme is people under these schemes. This information was
a one-year life insurance scheme, renewable from given by Minister of State in the Ministry of Finance
year to year, offering coverage of Rs. Two lakh for Shri Pankaj Chaudhary.
death due to any reason at a premium of Rs. 436/-
per annum and is available to people in the age 145. (a) The Union Cabinet, chaired by the Prime
group of 18 to 50 years having a bank account who Minister Shri Narendra Modi, has approved the
give their consent to join the scheme. As on Revised National Program for Dairy Development
07.03.2025, cumulative enrolment under PMJJBY is (NPDD). The Revised NPDD, a Central Sector
23.21 crore. iii. Atal Pension Yojana: The Scheme Scheme, has been enhanced with an additional
aims to provide monthly pension to eligible Rs.1000 crore, bringing the total budget to Rs.2790

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crore for the period of the 15th Finance Commission Commission cycle, from 2021-22 to 2025-26. Two
cycle (2021-22 to 2025-26). This initiative focuses New activities added are: (i) One-time assistance of
on modernizing and expanding dairy infrastructure, 35% of the capital cost for establishment of Heifer
ensuring the sectors sustained growth and Rearing Centres to Implementing Agencies for
productivity. The revised NPDD will give an impetus creation of 30 housing facilities having total 15000
to the dairy sector by creating infrastructure for heifers and, (ii) To encourage farmers to purchase
milk procurement, processing capacity, and High genetic merit (HGM) IVF heifers to provide 3%
ensuring better quality control. It is intended to interest subvention on loan taken by the farmer
help farmers gain better access to markets, to from milk unions / financial institutions/ banks for
ensuring better pricing through value addition, and such purchase. This will help in systemic induction
improve the efficiency of the supply chain, leading of high yielding breeds. The revised Rashtriya Gokul
to higher incomes and greater rural development. Mission is approved with an allocation Rs.3400 crore
The scheme consists of two key components: 1. during 15th Finance Commission cycle (2021-22 to
Component A is dedicated to improving essential 2025-26). With the implementation of the Rashtriya
dairy infrastructure, such as milk chilling plants, Gokul Mission and other efforts of the Government,
advanced milk testing laboratories, and certification milk production has increased by 63.55% in the last
systems. It also supports the formation of new ten years, along with the availability of milk per
village dairy cooperative societies and strengthens person, which was 307 grams per day in 2013-14,
milk procurement and processing in the North has increased to 471 grams per day in 2023-24.
Eastern Region (NER), hilly regions, and Union Productivity has also increased by 26.34% in the
Territories (UTs), especially in remote and backward last ten years. The Nationwide Artificial
areas, as well as the formation of 2 Milk Producer Insemination Programme (NAIP) under the RGM
Companies (MPCs) with dedicated grant support 2. provides free of cost Artificial Insemination (AI) at
Component B, known as "Dairying through the farmers doorstep in 605 districts across the
Cooperatives (DTC)", will continue to foster dairy country where the baseline AI coverage was below
development through cooperation with the 50%. Till date, over 8.39 crores animals have been
Government of Japan and Japan International covered and 5.21crores farmers have been
Cooperation Agency (JICA) as per agreements benefitted. RGM has also been at the forefront in
signed. This component focuses on the sustainable bringing the latest technological interventions in
development of dairy cooperatives, improving breeding to the farmers doorstep. A total of 22 in
production, processing, and marketing vitro fertilization (IVF) labs have been set up across
infrastructure in the nine States (Andhra Pradesh, the country under the State Livestock Boards
Bihar, Madhya Pradesh, Punjab, Rajasthan, (SLBs) or in Universities and over 2541 HGM calves
Telangana, Uttarakhand, Uttar Pradesh, and West have been born. Two path breaking steps in
Bengal). The Revised NPDD is expected to establish Atmanirbhar technology are the Gau Chip and
10,000 new Dairy Cooperative Societies, processing Mahish Chip, genomic chips for indigenous bovines
in the North Eastern Region (NER), as well as the developed by National Dairy Development Board
formation of 2 Milk Producer Companies (MPCs) (NDDB) and ICAR National Bureau of Animal
with dedicated grant support in addition to the Genetic Resources (NBAGR) and Gau Sort
ongoing projects of NPDD, to generate an additional indigenously developed sex sorted semen
3.2 lakh direct and indirect employment production technology developed by NDDB.
opportunities, particularly benefiting women, which
constitute 70% of the dairy workforce. The Revised 147. (e) The Union Cabinet chaired by the Prime
National Programme for Dairy Development will Minister Shri Narendra Modi approved the Incentive
transform Indias modern infrastructure, in sync with Scheme for promotion of low-value BHIM-UPI
White Revolution 2.0 and will further support the transactions Person to Merchant (P2M) for the
newly formed cooperatives by providing new financial year 2024-25 in the following manner: i.
technology, and quality testing labs. The incentive scheme for promotion of low-value
BHIM-UPI transactions (P2M) will be implemented
146. (c) The Union Cabinet, chaired by Prime at an estimated outlay of 1,500 crore, from
Minister Narendra Modi, has approved the Revised 01.04.2024 to 31.03.2025. ii. Only the UPI (P2M)
Rashtriya Gokul Mission (RGM) to boost growth in transactions upto 2,000/- for Small Merchants are
livestock sector. Implementation of revised RGM, as covered under the scheme. iii. Incentive at the rate
Central Sector component of Development of 0.15% per transaction value will be provided for
Programmes scheme is being done with an transactions upto Rs.2,000 pertaining to category of
additional outlay of Rs.1000 crore that is total small merchants. iv. For all the quarters of the
outlay of Rs.3400 crore during 15th Finance scheme, 80% of the admitted claim amount by the

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acquiring banks will be disbursed without any acquiring banks will be disbursed without any
conditions. v. The reimbursement of the remaining conditions. v. The reimbursement of the remaining
20% of the admitted claim amount for each quarter 20% of the admitted claim amount for each quarter
will be contingent upon fulfilment of the following will be contingent upon fulfilment of the following
conditions: a) 10% of the admitted claim will be conditions: a) 10% of the admitted claim will be
provided only when the technical decline of the provided only when the technical decline of the
acquiring bank will be less than 0.75%; and b) The acquiring bank will be less than 0.75%; and b) The
remaining 10% of the admitted claim will be remaining 10% of the admitted claim will be
provided only when the system uptime of the provided only when the system uptime of the
acquiring bank will be greater than 99.5%. acquiring bank will be greater than 99.5%.
Objective: Promotion of indigenous BHIM-UPI Objective: Promotion of indigenous BHIM-UPI
platform. Achieving the target of 20,000 crore total platform. Achieving the target of 20,000 crore total
transaction volume in FY 2024-25. Supporting the transaction volume in FY 2024-25. Supporting the
payment system participants in building a robust payment system participants in building a robust
and secure digital payments infrastructure. and secure digital payments infrastructure.
Penetration of UPI in tier 3 to 6 cities, especially in Penetration of UPI in tier 3 to 6 cities, especially in
rural & remote areas by promoting innovative rural & remote areas by promoting innovative
products such as feature phone based (UPI 123PAY) products such as feature phone based (UPI 123PAY)
& offline (UPI Lite/UPI LiteX) payment solutions. & offline (UPI Lite/UPI LiteX) payment solutions.
Maintain a high system uptime & minimize technical Maintain a high system uptime & minimize technical
declines. Background: Promotion of digital declines. Background: Promotion of digital
payments is an integral part of the Government's payments is an integral part of the Government's
strategy for financial inclusion and provide wide- strategy for financial inclusion and provide wide-
ranging payment options to the common man. The ranging payment options to the common man. The
expenditure incurred by the digital payment expenditure incurred by the digital payment
industry while providing services to its customers / industry while providing services to its customers /
merchant is recovered through the charge of merchant is recovered through the charge of
Merchant Discount Rate (MDR). The expenditure Merchant Discount Rate (MDR). The expenditure
incurred by the digital payment industry while incurred by the digital payment industry while
providing services to its customers / merchant is providing services to its customers / merchant is
recovered through the charge of Merchant Discount recovered through the charge of Merchant Discount
Rate (MDR). As per RBI, MDR upto 0.90% of Rate (MDR). As per RBI, MDR upto 0.90% of
transaction value is applicable across all card transaction value is applicable across all card
networks. (for Debit cards). As per NPCI, MDR upto networks. (for Debit cards). As per NPCI, MDR upto
0.30% of transaction value is applicable for UPI P2M 0.30% of transaction value is applicable for UPI P2M
transaction. Since January 2020, to promote digital transaction. Since January 2020, to promote digital
transactions, MDR was made zero for RuPay Debit transactions, MDR was made zero for RuPay Debit
Cards and BHIM-UPI transactions through Cards and BHIM-UPI transactions through
amendments in section 10A in the Payments and amendments in section 10A in the Payments and
Settlement Systems Act, 2007 and section 269SU of Settlement Systems Act, 2007 and section 269SU of
the Income-tax Act, 1961. the Income-tax Act, 1961.

148. (d) The Union Cabinet chaired by the Prime 149. (c) SBI Mutual Fund has introduced two new
Minister Shri Narendra Modi approved the Incentive investment options centred around Indias public
Scheme for promotion of low-value BHIM-UPI sector banking sector: SBI BSE PSU Bank Index
transactions Person to Merchant (P2M) for the Fund An open-ended scheme that mirrors or tracks
financial year 2024-25 in the following manner: i. the BSE PSU Bank Index. SBI BSE PSU Bank ETF An
The incentive scheme for promotion of low-value open-ended exchange-traded fund (ETF) that also
BHIM-UPI transactions (P2M) will be implemented replicates the BSE PSU Bank Index. Their objective
at an estimated outlay of 1,500 crore, from is to deliver returns closely aligned with the
01.04.2024 to 31.03.2025. ii. Only the UPI (P2M) performance of the BSE PSU Bank Index, subject to
transactions upto 2,000/- for Small Merchants are tracking error. However, SBI Mutual Fund has
covered under the scheme. iii. Incentive at the rate clarified that achieving this investment objective is
of 0.15% per transaction value will be provided for not guaranteed. The funds will primarily allocate
transactions upto Rs.2,000 pertaining to category of 95% to 100% of their assets to stocks listed in the
small merchants. iv. For all the quarters of the BSE PSU Bank Index. Additionally, up to 5% of
scheme, 80% of the admitted claim amount by the assets may be invested in government securities,

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tri-party repo, and units of liquid mutual funds to the, Baalpan ki Kavita initiative: Restoring Bhartiya
ensure liquidity. Minimum Investment & Listing rhymes/poems for young children. The participants
Details The minimum investment amount during the of the contest can send existing poems/rhymes
New Fund Offer (NFO) period is Rs. 5,000, with popular in folklore (mentioning the name of the
additional investments allowed in multiples of Rs. 1. author) or newly composed joyful poems/rhymes
The benchmark index for these funds is the BSE under three categories: Baalpan ki Kavita initiative:
PSU Bank TRI. Units of the SBI BSE PSU Bank ETF Restoring Bhartiya rhymes/poems for young
will be listed on both NSE and BSE for trading. children. The participants of the contest can send
These funds are ideal for investors seeking to existing poems/rhymes popular in folklore
capitalise on the performance of PSU banks through (mentioning the name of the author) or newly
a diversified and structured investment vehicle. composed joyful poems/rhymes under three
categories: Pre-primary (ages 3-6) Grade 1 (ages
150. (d) Coal India subsidiary, South Eastern 6-7) Grade 2 (ages 7-8)
Coalfields Limited (SECL) has achieved a significant
milestone with its Corporate Social Responsibility 152. (d) The Gold Monetisation Scheme (GMS) was
(CSR) initiative, SECL Ke Sushrut, becoming the announced on 15th September, 2015 with the
first and only CSR scheme of any coal PSU under objective to reduce countrys reliance on the import
the Ministry of Coal to be listed on the Direct of gold in the long run and mobilise gold held by
Benefit Transfer (DBT) portal of the Government of households and institutions in the country to
India. The DBT initiative, launched by the facilitate its use for productive purposes. Short
Government of India, aims to reform the delivery of Term Bank Deposit (1-3 years) Medium Term
benefits and subsidies by directly transferring funds Government Deposit (5-7 years), and Long-Term
to beneficiaries' bank accounts, minimizing Government Deposit (12- 15 years) Based on the
leakages, and ensuring effective utilization of examination of the performance of Gold
resources. At present, the DBT portal features Monetisation Scheme (GMS) and evolving market
approximately 325 schemes from 55 ministries, conditions, it has been decided to discontinue the
covering diverse sectors such as health, education, Medium Term and Long Term Government Deposit
agriculture, and social welfare. Started in 2023, (MLTGD) components of the GMS w.e.f. March 26,
SECL Ke Sushrut is a flagship educational initiative 2025. Accordingly, any gold deposits tendered at
under SECLs CSR programs, designed to provide the designated Collection and Purity Testing Centre
free medical coaching to 40 students preparing for (CPTC) or GMS Mobilisation, Collection & Testing
the National Eligibility cum Entrance Test (NEET). Agent (GMCTA) or the designated bank branches
The scheme aims to support meritorious and under the said components of GMS shall not be
underprivileged students from the coal belt regions accepted with effect from March 26, 2025.
of Chhattisgarh and Madhya Pradesh, equipping However, the existing deposits under MLTGD shall
them with the necessary resources and guidance to continue till redemption as per extant guidelines of
pursue careers in the medical field. GMS issued vide Reserve Bank Master Direction.
Further, the Short-Term Bank Deposits (STBD)
151. (c) The National Education Policy (NEP), 2020 offered by the banks under GMS shall continue at
emphasizes the critical importance of universal and the discretion of the individual banks based on the
high-quality Early Childhood Education along with commercial viability as assessed by them.
the power of multilingualism and the importance of
including childrens languages in primary education. 153. (c) India's textile industry is important to the
To fulfil the vision of NEP 2020, the Department of economy and makes some of the most innovative
School Education & Literacy (DoSE&L), Ministry of fabrics globally. India is the 6th largest exporter of
Education has launched Baalpan ki Kavita initiative: textiles globally, with a 3.9% share in world textile
Restoring Bhartiya rhymes/poems for young exports. It contributes nearly 2% to the countrys
children for preparing a compendium of nursery GDP. The sector is set to grow to US$350 billion by
rhymes/poems in all Bhartiya Bhasha and also in 2030 further strengthening Indias position in the
English, focusing on content relevant to the Indian global market. This growth is expected to create3.5
context. The purpose of this initiative is that the crore jobs. Summary
young children can have better learning at the
Foundational stage by becoming familiar with the • National Technical Textiles Mission (NTTM)
world around them through easily understandable launched in 2020 by the Ministry of Textiles to
and joyful poems and rhymes, in their mother boost technical textiles in India.
tongue. To further this initiative, the DoSE&L in
collaboration with MyGov is inviting contribution to

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• Focuses on research, market growth, exports and 168 research projects, valued at around 509 crore,
skill development. have been approved under NTTM. Indias journey to
becoming a global leader in technical textiles is well
• Promotes innovation, startups and use in underway. Initiatives like GIST 2.0, along with
agriculture, infrastructure and healthcare. cutting-edge technology and research, are paving
the way for this vision. With continued effort and
• Aims to make India a global leader in Technical innovation, India is set to lead the global technical
Textiles with a budget of Rs. 1,480 crore till 2025- textiles market, driving both economic growth and
26. global competitiveness.

• Supports 168 research projects worth Rs. 509 154. (c) The Union Cabinet chaired by the Prime
crore. Minister Shri Narendra Modi today approved the
Electronics Component Manufacturing Scheme with
• NTTM aims to train 50,000 individuals in technical a funding of Rs.22,919 crore to make India
textiles. Atmanirbhar in electronics supply chain. This
scheme aims to develop a robust component
While traditional textiles remain crucial, the rise of ecosystem by attracting large investments
technical textiles is reshaping the industry. These (global/domestic) in electronics component
are specialized fabrics designed for specific uses, manufacturing ecosystem, increasing Domestic
focusing on function over appearance. They are Value Addition (DVA) by developing capacity and
divided into 12 categories, each serving a different capabilities, and integrating Indian companies with
purpose. Framework for the National Technical Global Value Chains (GVCs). Benefits: The scheme
Textiles Mission With a view to boost technical envisages to attract investment of Rs.59,350 crore,
textiles sector in the country, National Technical result in production of Rs.4,56,500 crore and
Textiles Mission (NTTM) was launched for a period generate additional direct employment of 91,600
from2020-21 to 2025-26 with an outlay of persons and many indirect jobs as well during its
Rs.1,480 crores.The National Technical Textiles tenure. Salient Features of the Scheme: i. The
Mission (NTTM) focuses on using textiles in key scheme provides differentiated incentives to Indian
areas. The National Technical Textiles Mission manufacturers tailored to overcome specific
(NTTM) has four key components aimed at boosting disabilities for various categories of components and
the sector's growth: sub-assemblies so that they can acquire
technological capabilities and achieve economies of
• Component I Research, Innovation and scale. ii. The tenure of the scheme is six (6) years
Development:Supports R&D in technical textiles, with one (1) year of gestation period. iii. Payout of
inviting proposals to develop new materials and a part of the incentive is linked with employment
processes. targets achievement. Background: Electronics is
one of the highest-traded and fastest-growing
• Component II Promotion and Market industries globally and is expected to play a pivotal
Development:Aims to increase technical textile role in shaping the global economy and advancing a
adoption in India through market promotion and country's economic and technological development.
international collaborations. Since electronics permeates all sectors of economy
it has economic and strategic importance. With
• Component III Export Promotion:Focuses on various initiatives of Gol, the electronics
boosting exports of technical textiles with a manufacturing sector has witnessed remarkable
dedicated export council. Outlay growth in the last decade. The domestic production
of electronic goods has increased from Rs.1.90 lakh
• Component IV Education, Training, and Skill crore in FY 2014-15 to Rs.9.52 lakh crore in FY
Development:Promotes technical textiles 2023-24 at a CAGR of more than 17%. The exports
education, skill training, and internships in top of electronic goods have also increased from
institutes and industries. Rs.0.38 lakh crore in FY 2014-15 to Rs.2.41 lakh
crore in FY 2023-24 at a CAGR of more than 20%.
Rs. 517 crore has been allocated for the
National Technical Textiles Mission (NTTM) 155. (d) Bank of Baroda announced that it has gone
since its launch.So far, Rs. 393.39 crore has been live with the new Pradhan Mantri Vidyalaxmi (PM-
used for various activities such as research, Vidyalaxmi) Scheme to provide financial support to
innovation, market development, export promotion meritorious students. The PM-Vidyalaxmi Scheme is
and skill development in technical textiles. A total of an initiative by the central government for students

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seeking financial assistance to pursue higher Advocates Act and Advocate Protection Act to
education and to ensure that financial constraints strengthen and empower them.
do not deprive the youth of India from pursuing
quality higher education. Applicants can digitally 157. (b) Economic affairs secretary Ajay Seth was
apply for an education loan under the PM- given additional charge of the post of secretary,
Vidyalaxmi Scheme from Bank of Baroda through Department of Revenue, according to a personnel
the PM-Vidyalaxmi portal, the public sector lender ministry order. The vacancy was necessitated
said in a release. The bank has 12 dedicated following the appointment of revenue secretary
Education Loan Sanctioning Cells (ELSC) and 119 Tuhin Kanta Pandey as the chairman of the
Retail Assets Processing Cells (RAPC), in addition to Securities and Exchange Board of India (Sebi) on
more than 8,300 branches, to cater to the needs of February 27. Pandey assumed charge as the chief
students from across the country. of the Mumbai-based capital markets regulator. The
competent authority has approved the assignment
The PM-Vidyalaxmi Scheme is a special loan product of the additional charge of the secretary of the
that enables collateral-free, guarantor-free Department of Revenue to Ajay Seth, secretary of
education loans, made accessible through an the Department of Economic Affairs till the
entirely digital application process. appointment of a regular incumbent, the order said.

Students who get admission in the top 860 158. (a) Dr Mayank Sharma assumed the office of
identified Quality Higher Educational Institutions Controller General of Defence Accounts (CGDA) on
(QHEIs) of the nation are eligible to apply for an March 01, 2025. He is a 1989-batch officer of the
education loan under this scheme. Loan amounts up Indian Defence Accounts Service (IDAS) and has
to Rs 7.5 lakh will be provided a 75 per cent credit had a distinguished career in the government
guarantee by the Government of Indi, to encourage spanning more than three decades. Dr Mayank
banks to expand coverage. Sharma has served in various capacities within the
Government of India, including the Defence
Further, to make education loans more affordable to Accounts Department. He has also held key
targeted groups, the scheme offers partial/full positions in the Cabinet Secretariat and represented
interest subvention to students from low-income India as the Alternate Permanent Representative at
families. the United Nations Office on Drugs and Crime
(UNODC), UN Commission on Crime Prevention and
In addition to the PM-Vidyalaxmi Scheme, Bank of Criminal Justice, and the United Nations
Baroda said it offers collateral-free education loans Commission on International Trade Law.
up to Rs 7.5 lakh for all courses in India. The bank Additionally, the IDAS officer has represented India
also provides collateral-free education loans up to at the International Anti-Corruption Academy and
Rs 40.00 lakh to students pursuing courses in 384 the Diplomatic Academy of Vienna. As the Head of
identified premier institutions in India. the Consular Division at the Indian Embassy in
Vienna, he was responsible for all consular affairs
With a 63.97 per cent stake, Bank of Baroda is and handled high-level Indian delegations at
majorly owned by the Government of India. The UNODC.
bank serves its global customer base of over 165
million through around 60,000 touch points spread 159. (b) The Government of India has appointed
across 17 countries in five continents and through Additional Secretary in the Department of
its various digital banking platforms. Commerce Shri Ajay Bhadoo, as the Chief Executive
Officer (CEO) of Government e Marketplace (GeM)
156. (b) The Bar Council of India (BCI) announced with effect from March 3, 2025. He will assume this
that Manan Kumar Mishra, Senior Advocate of the role in addition to his existing responsibilities in the
Supreme Court of India and Member of Parliament Department of Commerce. His appointment as CEO
(Rajya Sabha), has been re-elected unopposed as of GeM, Indias largest e-marketplace for
the Chairman of the Bar Council of India for a government procurement, comes at a pivotal time
historic seventh consecutive term. A statement as the platform transitions to a next-generation
issued stated that elected representatives of India's digital marketplace powered by Tata Consultancy
nearly 27 lakh vibrant legal fraternity have once Services (TCS). Currently, GeM has recorded a
again reaffirmed their trust in his distinguished Gross Merchandise Value (GMV) of Rs. 4.58 lakh
leadership. He emphasized the necessity of crore, reflecting a 28.65% year-on-year growth. An
introducing welfare measures and structured Indian Administrative Service (IAS) officer of the
training programs for young lawyers within the 1999 batch from the Gujarat cadre, Shri Bhadoo

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brings over two decades of experience in policy scheduled to take place in the UAE in September
formulation and implementation across diverse 2025.
sectors, including urban infrastructure development.
In August 2024, Shri Bhadoo was appointed as 163. (b) The Reserve Bank of India (RBI) has
Additional Secretary in the Department of approved the reappointment of Sumant Kathpalia as
Commerce. the Managing Director and Chief Executive Officer
(MD & CEO) of IndusInd Bank for another year. The
160. (c) The Reserve Bank of India (RBI) extension will be effective from March 24, 2025, to
announced the appointment of Dr Ajit Ratnakar March 23, 2026. This decision marks the second
Joshi as executive director, effective from March 3, consecutive instance where the RBI granted shorter
2025. Prior to this promotion, Joshi served as tenure than the three-year term sought by the
Principal Adviser in the Department of Statistics and banks Board. IndusInd Bank had initially proposed a
Information Management (DSIM). As executive three-year extension for Kathpalia; however, the
director, Joshi will oversee the Department of RBI has once again opted for a limited tenure,
Statistics and Information Management as well as similar to his previous reappointment in 2023,
the Financial Stability Department. His role will which was also curtailed to two years instead three.
involve ensuring the accuracy and reliability of The regulatory approval remains subject to
statistical data used for policy formulation and shareholder consent. Kathpalia, a seasoned banker
overseeing financial stability measures critical to the with over 37 years of experience, has been a key
banking sector, the RBI said. figure in IndusInd Banks transformation. Before
joining the bank 17 years ago, he held leadership
161. (e) The Appointments Committee of the positions at major multinational financial
Cabinet has approved the appointment of Dr. Anju institutions, including Citibank, Bank of America,
Rathi Rana, ILS, as the Secretary, Department of and ABN AMRO. Did you Know His tenure as MD &
Legal Affairs, Ministry of Law and Justice. She will CEO since March 24, 2020.
assume the role for an initial period of two years
from the date she takes charge or until further 164. (b) GRM Overseas Limited announced the
orders, whichever is earlier. Dr. Rana, who launch of a new marketing campaign for its 10X
previously served as Additional Secretary in the Classic Chakki Fresh Atta, featuring Bollywood actor
Department of Legal Affairs, brings extensive Salman Khan as brand ambassador. The campaign,
experience in legal administration and titled Better Half Ki Better Choice, aims to position
policymaking. Her appointment is expected to the product as the preferred choice for families with
strengthen the departments role in providing legal the tagline 10 Ka Dum. GRM Overseas, originally
advice to the government and overseeing key established in 1974 as a rice processing and trading
legislative matters. house, has expanded to become a consumer staples
organization with three rice processing units in
162. (d) Board of Control for Cricket in India (BCCI) Haryana and Gujarat. The company exports to 42
vice-president Rajeev Shukla will represent India as countries and is among Indias top five rice
an Executive Board Member on the Asian Cricket exporters.
Council (ACC) Board. Shukla will take over a vacant
spot that emerged after Jay Shah stepped down as 165. (b) The Indian Banks Association (IBA) said
president of the governing body of continental Atul Kumar Goel has assumed charge as Chief
cricket, the Indian cricket board announced on Executive (CE) of the Association. Goel was MD and
March 7. Meanwhile, former BCCI treasurer Ashish CEO of Punjab National Bank (PNB) from February
Shelar has been appointed as the BCCI 2022 to December 2024. He was Chairman of IBA
representative on the ACC Board as an Ex-Officio for two terms 2021-22 and 2022-23. His
Board Member. Jay Shah vacated the ACC predecessor at IBA, Sunil Mehta, too was MD & CEO
presidency in December 2024 after serving three of PNB (from May 2017 to September 2019) and
consecutive terms. The Indian cricket administrator, Chairman of the Association (2018-19). Mehta was
who was also the BCCI secretary, was elected IBA CE from January 2020 till September 2024. The
unopposed as the International Cricket Council new IBA Chief Executive is a qualified Chartered
(ICC) chairman. Shah officially assumed the ICC Accountant. He has three decades of banking
chairman role on December 1, 2024. Following Jay experience in four Banks -- Allahabad Bank (now
Shah's departure, Sri Lanka Cricket Board chief Indian Bank), Union Bank of India (as Executive
Shammi Silva took over as the president of the Director), UCO Bank (MD & CEO) and PNB (MD &
Asian Cricket Council. The upcoming edition of the CEO).
Asia Cup, which will be played in the T20 format, is

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166. (a) ICICI Bank Limited has appointed Kamal office before the end of his term and days later
Wali as the Head of its Security Operations Center, named Minister Stuart Young as his successor.
bringing over 18 years of cybersecurity and IT
operations expertise to the institution. In this role, 170. (b) Mark Carney, an economist and political
Kamal will oversee the banks security operations, newcomer, has been sworn in as Canada's new
focusing on risk mitigation and enhancing digital prime minister. He took office just days after being
resilience. Before joining ICICI Bank, he held elected leader of the governing Liberal Party.
leadership positions at prominent organisations, Carney replaces outgoing Prime Minister Justin
including Jio Platforms Limited, Wipro, IBM, Intex Trudeau, who was in office for nine years, after a
Technologies, and Spanco Telesystems. His landslide victory in Liberal leadership race. He
extensive experience encompasses managing previously held roles as governor of the Bank of
security frameworks, implementing complex Canada, the country's central bank, and of the Bank
projects, and developing operational security of England, and helped both countries weather
strategies. major financial disruption.

167. (b) Tata Communications announced the 171. (b) The Reserve Bank of India (RBI) has
appointment of N Ganapathy Subramaniam (NGS) announced the appointment of Indranil
as the chairman of the board of directors of the Bhattacharyya as its new Executive Director (ED),
company. His appointment is effective March 14, effective March 19, 2025. Before assuming this role,
2025. NGS has been part of Tata Consultancy Indranil served as an Advisor in the Monetary Policy
Services (TCS), the IT major, for 40 years. He Department of the central bank. In his new position,
stepped down from TCS in May 2024 as the chief he will be responsible for leading the Department of
operating officer and executive director. Economic and Policy Research (DEPR). With nearly
three decades of experience, he has contributed
168. (b) Secretary Department of Science and extensively to various domains, including monetary
Technology (DST) Professor Abhay Karandikar who and fiscal policy, banking, and international
was acting as Chief Executive Officer (CEO) of economic relations. His tenure at RBI has spanned
Anusandhan National Research Foundation (ANRF) multiple departments, such as the Monetary Policy
handed over the charge to Dr. Shivkumar Department, DEPR, and the International
Kalyanaraman who has been appointed CEO. Dr. Department. Additionally, he has international
Shivkumar who earlier held the post of Chief experience, having served as an Economic Expert in
Technology Officer (CTO), Energy Industry, Asia at the Technical Office of the Governor at Qatar
Microsoft is a Distinguished Alumnus Awardee of IIT Central Bank from 2009 to 2014. Earlier this month,
Madras & Ohio State University (2021). He is also a the RBI also appointed Ajit Ratnakar Joshi as an ED.
Fellow of the IEEE (2010), Fellow of Indian National
Academy of Engineering (2015), ACM Distinguished 172. (b) Edelweiss Asset Reconstruction Company
Scientist (2010), Microsoft Gold Club (2024) and (EARC) has received approval from the Reserve
Technology Review TR100 young innovator (1999). Bank of India (RBI) to appoint Mythili
ANRF will act as an apex body to provide high-level Balasubramanian as its Interim Managing Director
strategic direction of scientific research in the and Chief Executive Officer, effective immediately
country as per recommendations of the National until September 30, 2025. With nearly five years at
Education Policy (NEP). EARC and a career spanning over four decades,
Mythili brings extensive expertise in banking, NPA
169. (e) Stuart Young, will sworn in as the new resolution, and insolvency processes under the IBC
Prime Minister of Trinidad and Tobago, during framework. Her leadership is expected to drive
ceremony at the Presidents House in St. Anns. Mr stability and strategic growth as the company
Young is currently serving as the Minister of Energy navigates the evolving distressed asset landscape.
and Energy Industries. He will succeed the outgoing To ensure a smooth succession, EARCs Board of
Prime Minister Dr. Keith Rowley, who made his last Directors has formed a Search Committee to
public appearance, during the Peoples National oversee the process of appointing the next
Movement (PNM)s Special Convention. Addressing permanent MD & CEO.
the Convention, Dr. Rowley said that although he
may be stepping down from his role as Prime 173. (c) Fino Payments Banks (FPB) Board of
Minister, but his dedication to Trinidad and Tobago Directors have approved the re-appointment of
will remain unwavering. In early January, Dr. Deena Mehta as an Additional Director in the
Rowley announced his intention to resign from capacity of Independent Director. Mehta has over
four decades of experience in capital markets,

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contributing to key reforms such as the BOLT premier heritage conservation organisation formally
system at BSE, the Central Depository Service, and constituted on 27th January, 1984. It is a national
the streamlining of Clearing Corporation BOISL. She registered Society under the Societies Registration
served on the BSE Board for nine years, including Act (1860). The INTACH Charter was adopted in
as Vice President and President. She has been part 2004 which serves as a foundation document
of various SEBI committees for 21 years, guiding heritage conservation in India.
contributing to multiple market reforms. She is a
founding member of SAFE, the Association of Stock 177. (b) Vikram Sahu, head of global equity
Exchanges of SAARC countries. research of Bank of America will take over as the
new country executive, India. He will replace Kaku
174. (b) Anuj Kumar Singh, IRSEE (2009), has Nakhate, who will complete 15 years as the CEO of
been appointed as Joint Secretary (Director level) in Indian operations in June. The appointment will be
the Union Public Service Commission (UPSC), Delhi, subject to regulatory approvals. Sahu will relocate
under the Central Staffing Scheme for a tenure of from New York in the second quarter of the
five years or until further orders. Recommended for calendar year to assume overall leadership of the
Central deputation by the Ministry of Railways, he is India franchisee, according to an internal memo
to take charge of his new role immediately. From issued by Jin Su, president of Asia Pacific.
the 2009 batch, Mr Singh is an Indian Railway
Service of Electrical Engineer officer. The Ministry of 178. (b) Canara Bank has appointed S.K. Majumdar
Railways suggested his Central deputation as its Executive Director, with effect from March 24,
nomination. With a strong background in the 2025. His promotion follows a distinguished career
railway sector, Singh brings extensive of more than 25 years in banking, with his last
administrative and technical expertise. assignment as Chief Financial Officer in Canara
Bank. The appointment was made official by a
175. (b) The government has approved the notification from the Ministry of Finance,
appointment of Rahul Bhave as Managing Director Department of Financial Services. S.K. Majumdar is
and CEO of financial institution IFCI. Bhave, serving 56 years old and a very seasoned banking expert
as Deputy Managing Director, has been appointed with impressive qualifications as a Chartered
as MD and CEO for three years from the date of Accountant and Cost Accountant. Joining Canara
taking over, a government order said. The Bank in January 2000, he has proven himself to be
appointment has been approved by the an outstanding leader with very strong financial
Appointments Committee of the Cabinet (ACC), skills in several assignments at branches and
headed by the PM. The Industrial Finance administrative offices.
Corporation of India (IFCI) was set up by the
government on July 1, 1948, as the first 179. (c) The government approved the appointment
development financial institution in the country. The of former Enforcement Directorate (ED) chief
finance ministry, in November 2024, in principle Sanjay Kumar Mishra as a full-time member of the
approved the 'Consolidation of IFCI Group', which Economic Advisory Council to the Prime Minister
entails the merger/amalgamation of IFCI Ltd and (EAC-PM) in the rank of secretary. During his
StockHolding Corporation of India Ltd and other tenure, ED got approval for the extradition of
group companies. As per the proposal, StockHolding fugitives such as Vijay Mallya, Nirav Modi and arms
Corporation of India Ltd, IFCI Factors Ltd, IFCI dealer Sanjay Bhandari. Sanjay Kumar Mishra was
Infrastructure Development Ltd, and IIDL Realtors initially appointed as the Enforcement Directorate
Ltd will merge with IFCI Ltd. Further, StockHolding (ED) chief in 2018. He was given multiple
Services Ltd, IFCI Financial Services Ltd, IFIN extensions by the Centre. Economic Advisory
Commodities Ltd, and IFIN Credit Ltd will be Council to the Prime Minister (EAC-PM) is an
merged into a single entity, which will be a direct independent body constituted to give advice on
subsidiary of the consolidated listed entity. economic and related issues to the Government of
India, specifically to the Prime Minister.
176. (b) The AGM of Indian National Trust for Art
and Cultural Heritage (INTACH) was held on 22nd 180. (b) Sunil Kakkar, who has been leading the
March 2025 at the Head Office in New Delhi. The corporate planning division at Maruti Suzuki India
Elections were held successfully for the post of Limited (MSIL), has become the first homegrown
Chairman and Governing Council members. After Indian employee to be nominated to the company's
following due procedure the results were declared board as a whole-time director. The nomination was
and Shri. Ashok Singh Thakur was elected as made on Wednesday by MSILs majority
Chairman for a period of 3 years. INTACH is Indias shareholder, Suzuki Motor Corporation (SMC).

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MSILs board currently comprises 11 membersfive including recognition by Euromoney in 2016 as the
Indians and six Japanese. Among the Indian first bank to be named World's Best Digital Bank. In
members, four are independent directors, while 2018, DBS was named the World's Best Bank and
chairman R C Bhargava is the fifth. With Kakkars has received the award multiple times since then,"
addition, the board will now have equal said Temasek Holdings CEO Dilhan Pillay. Tan Su
representation of six Indians and six Japanese. Shan has succeeded Gupta. Tan, who is the first
Kakkar's tenure as whole-time director will be from female CEO in DBS' history and was previously the
April 1 this year to March 31, 2028. bank's deputy CEO, is expected to continue DBS'
focus on high return on equity businesses and
181. (d) The 72-year-old Netumbo Nandi-Ndaitwah global growth, reported The Straits Times. Temasek
was sworn in as the first woman president of the Holdings Limited, a 51-year-old Singaporean state-
southern African nation of Namibia. Outgoing 83- owned multinational investment group, is a major
year-old President Nangolo Mbumba handed over shareholder of DBS.
power in a ceremony yesterday. Nandi-Ndaitwahs
SWAPO party, which has ruled the country for over 184. (a) Tata Groups electronics retail chain Croma
three decades, won both the presidential and has appointed Shibashish Roy as its chief executive
parliamentary elections in November. She officer and managing director, effective April 1, who
previously served as vice president and won 58 has over 20 years of experience in Tata Group
percent of the vote. Nandi-Ndaitwahs inauguration companies, was named chief executive officer in
came a day after the Namibian parliament elected November 2024 and worked alongside outgoing
its first female speaker, former Prime Minister Saara managing director Avijit Mitra during a transition
Kuugongelwa-Amadhila. Nandi-Ndaitwah is the period that concluded in March 2025.
latest in a small group of women to hold the
presidency in Africa. 185. (e) Jay Shah, chairman of the International
Cricket Council (ICC), has been honoured with the
182. (b) Mumbai-based fintech and insurance prestigious Icon of Excellence award at the 14th
professional Swaminathan S. Iyer, 57, has been edition of the Forbes India Leadership Awards (FILA
appointed as a Whole-time Member (Life) of the 2025). This award recognises his exceptional
Insurance Regulatory and Development Authority of contributions to cricket administration and his role
India (IRDAI). This historic move by the in driving innovation and inclusivity in the sport.
Appointments Committee of the Cabinet (ACC) is Under his leadership, cricket has witnessed a
the first time a private sector professional has been remarkable transformation, making the game more
selected for this high-profile position, ending the accessible and globally competitive. The Icon of
long tradition of selection from the Life Insurance Excellence award was presented to Jay Shah at a
Corporation (LIC). Iyer, formerly Executive Vice prestigious event held at the Jio World Convention
President Head Legal, Company Secretary, and Centre in Mumbai. The award was handed over by
Regulatory Affairs & ESG of Tata AIA Life Insurance, Harsh Mariwala, chairman of Marico Limited, and
has more than 34 years of experience working in KVS Manian, MD & CEO of Federal Bank, in
the life insurance sector. His term will be five years recognition of his dynamic leadership in sports
or until he turns 62, whichever is earlier. His term administration. At the age of 36, Jay Shah made
will be five years or until he turns 62, whichever is history by becoming the youngest-ever chairman of
earlier. The position was vacant since October 2024 the ICC. Through his strategic decision-making and
after the resignation of BC Patnaik. Swaminathans futuristic approach, he continues to play a crucial
professional path is characterized by his senior role in elevating cricket to new heights.
leadership positions at HDFC Standard Life
Insurance, including Senior Vice President Legal and 186. (e) Dr. Suborno Bose, Chairman of the
Compliance, and his previous experience at HDFC International Institute of Hotel Management (IIHM),
Ltd. one of Indias foremost hospitality educators and a
visionary in integrating technology with hospitality,
183. (c) Singapore's top banker Piyush Gupta has has been honoured with the Lifetime Achievement
stepped down as DBS Bank chief executive after 15 in Hospitality and Education Through Technology
years of spearheading the lender's journey through award by Union Tourism Minister Gajendra
various financial markets, including setting up of a Shekhawat. The award was conferred at the Vibrant
wholly-owned subsidiary in India. "Piyush Gupta has Bharat Global Summit 2025, an event organized by
driven a total transformation of DBS over these 15 Bharat 24, one of the countrys leading language
years. His achievements speak for themselves - the media networks. This prestigious recognition marks
accolades that DBS has received over the years, a significant milestone in Dr. Boses relentless

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efforts to revolutionize hospitality, tourism, and 188. (a) The International Indian Film Academy
education through technology, particularly artificial (IIFA) Awards has completed 25 years this year. Its
intelligence (AI). Silver Jubilee edition was celebrated this year in
Jaipur on March 8, 2025. The celebration began by
187. (d) The International Indian Film Academy recognizing the best talents in the field of OTT
(IIFA) Awards has completed 25 years this year. Its cinemas and series. The best film awards were
Silver Jubilee edition was celebrated this year in given on March 9, where Kiran Rao's social dramedy
Jaipur on March 8, 2025. The celebration began by Laapataa Ladies emerged victorious, clinching 10
recognizing the best talents in the field of OTT trophies. The movie bagged awards like Best
cinemas and series. The best film awards were Performance In A Leading Role (Female), Best
given on March 9, where Kiran Rao's social dramedy Picture, Best Performance In A Supporting Role
Laapataa Ladies emerged victorious, clinching 10 (Male), Best Direction and many other
trophies. The movie bagged awards like Best awards.emerged victorious, clinching 10 trophies.
Performance In A Leading Role (Female), Best The movie bagged awards like Best Performance In
Picture, Best Performance In A Supporting Role A Leading Role (Female), Best Picture, Best
(Male), Best Direction and many other Performance In A Supporting Role (Male), Best
awards.emerged victorious, clinching 10 trophies. Direction and many other awards. IIFA Awards
The movie bagged awards like Best Performance In Winners Best Picture Laapataa Ladies Best
A Leading Role (Female), Best Picture, Best Performance In A Leading Role (Male) Kartik Aaryan
Performance In A Supporting Role (Male), Best (Bhool Bhulaiyaa 3) Best Performance In A Leading
Direction and many other awards. IIFA Awards Role (Female) Nitanshi Goel (Laapataa Ladies) Best
Winners Best Picture Laapataa Ladies Best Direction Kiran Rao (Laapataa Ladies) Best
Performance In A Leading Role (Male) Kartik Aaryan Performance In A Negative Role Raghav Juyal (Kill)
(Bhool Bhulaiyaa 3) Best Performance In A Leading Best Performance In A Supporting Role (Female)
Role (Female) Nitanshi Goel (Laapataa Ladies) Best Janki Bodiwala (Shaitaan) Best Performance In A
Direction Kiran Rao (Laapataa Ladies) Best Supporting Role (Male) Ravi Kishan (Laapataa
Performance In A Negative Role Raghav Juyal (Kill) Ladies) Best Story (Original) In The Popular
Best Performance In A Supporting Role (Female) Category Biplab Goswami (Laapataa Ladies) Best
Janki Bodiwala (Shaitaan) Best Performance In A Story (Adapted) Sriram Raghavan, Arijit Biswas,
Supporting Role (Male) Ravi Kishan (Laapataa Pooja Ladha Surti, and Anukriti Pandey (Merry
Ladies) Best Story (Original) In The Popular Christmas) Best Directorial Debut Kunal Kemmu
Category Biplab Goswami (Laapataa Ladies) Best (Madgaon Express) Best Debut (Male) Lakshya
Story (Adapted) Sriram Raghavan, Arijit Biswas, Lalwani (Kill) Best Debut (Female) Pratibha Ranta
Pooja Ladha Surti, and Anukriti Pandey (Merry (Laapataa Ladies) Best Music Director Ram
Christmas) Best Directorial Debut Kunal Kemmu Sampath (Laapataa Ladies) Best Lyrics Prashant
(Madgaon Express) Best Debut (Male) Lakshya Pandey (Sajni from Laapataa Ladies) Best Singer
Lalwani (Kill) Best Debut (Female) Pratibha Ranta (Male) Jubin Nautiyal (Dua from Article 370) Best
(Laapataa Ladies) Best Music Director Ram Singer (Female) Shreya Ghoshal (Ami Je Tomar 3.0
Sampath (Laapataa Ladies) Best Lyrics Prashant from Bhool Bhulaiyaa 3) Best Sound Design Subash
Pandey (Sajni from Laapataa Ladies) Best Singer Sahoo, Boloy Kumar Doloi, Rahul Karpe (Kill) Best
(Male) Jubin Nautiyal (Dua from Article 370) Best Screenplay Sneha Desai (Laapataa Ladies) Best
Singer (Female) Shreya Ghoshal (Ami Je Tomar 3.0 Dialogue Arjun Dhawan, Aditya Dhar, Aditya Suhas
from Bhool Bhulaiyaa 3) Best Sound Design Subash Jambhale, Monal Thaakar (Article 370) Best Editing
Sahoo, Boloy Kumar Doloi, Rahul Karpe (Kill) Best Jabeen Merchant (Laapataa Ladies) Best
Screenplay Sneha Desai (Laapataa Ladies) Best Cinematography Rafey Mahmood (Kill) Best
Dialogue Arjun Dhawan, Aditya Dhar, Aditya Suhas Choreography Bosco-Caesar (Tauba Tauba from
Jambhale, Monal Thaakar (Article 370) Best Editing Bad Newz) Best Special Effects Red Chillies VFX
Jabeen Merchant (Laapataa Ladies) Best (Bhool Bhulaiyaa 3) Outstanding Achievement In
Cinematography Rafey Mahmood (Kill) Best Indian Cinema Rakesh Roshan Kartik Aaryan won
Choreography Bosco-Caesar (Tauba Tauba from the Best Performance In A Leading Role (Male) for
Bad Newz) Best Special Effects Red Chillies VFX Bhool Bhulaiyaa 3, while Raghav Juyal took home
(Bhool Bhulaiyaa 3) Outstanding Achievement In the award for the Best Performance In A Negative
Indian Cinema Rakesh Roshan Kartik Aaryan won Role for Kill.
the Best Performance In A Leading Role (Male) for
Bhool Bhulaiyaa 3, while Raghav Juyal took home 189. (e) Muthoot Microfin, a leading microfinance
the award for the Best Performance In A Negative institution committed to empowering women
Role for Kill. entrepreneurs, has achieved a remarkable double

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victory at the SKOCH Awards 2025, securing two December 2024, 27 million women were monitoring
prestigious Gold Awards. The accolades were their credit, marking a 42% increase from the
presented to Sadaf Sayeed, CEO of Muthoot previous year, signaling growing financial
Microfin, by Sameer Kochhar, Chairman of SKOCH awareness. The report has been published by
Group, and Gursharan Dhanjal, Vice-Chairman of TransUnion CIBIL, Women Entrepreneurship
SKOCH Group, at a distinguished ceremony in New Platforms (WEP) of NITI Aayog and MicroSave
Delhi. The company was recognized for its Consulting (MSC). The report highlights that
excellence in digital financial inclusion and womens share of the total self-monitoring base
insurance solutions, winning: - Corporate Excellence increased to 19.43% in December 2024, up from
- "Best Customer Application on Digital Financial 17.89% in 2023. More women from non-metro
Inclusion" for its groundbreaking Mahila Mitra regions are actively self-monitoring their credit
initiative. With 1.73 million downloads and an compared to those in metro areas, with growth of
impressive 4.2-star rating, Mahila Mitra has 48% in non-metro regions and 30% in metro areas.
transformed how women in rural India access In 2024, Maharashtra, Tamil Nadu, Karnataka, Uttar
financial services, making digital transactions Pradesh and Telangana accounted for 49% of all
seamless and secure. - BFSI Award - "Best self-monitoring women, with the southern region
Insurance Scheme" for its Griha Raksha Insurance leading at 10.2 million. Northern and central states,
Scheme, which has provided coverage to 2.66 including Rajasthan, Uttar Pradesh, and Madhya
million beneficiaries, reinforcing Muthoot Microfin's Pradesh, saw highest compounded annual growth
commitment to financial security and social rates (CAGR) in active women borrowers over the
empowerment. With women at the heart of its past five years. Since 2019, womens share in
mission, Muthoot Microfin is not just providing business loan origination has increased by 14% and
financial services-it is building a stronger India. By their share in gold loans has grown by 6%, with
enabling 34.2 lakh women-led households, the women accounting for 35% of business borrowers
company is positively impacting the lives of 1.4 by Dec. 2024.
crore Indians, driving meaningful change at the
grassroots level. The recognition at SKOCH Awards 192. (d) India has emerged as a leading global
2025 underscores Muthoot Microfin's commitment wealth hub, with a current population of 85,698
to innovation, customer-centricity, and social High Net-Worth Individuals (HNWIs), placing it
impact, further strengthening its position as a fourth globally, behind only the US, China, and
leader in the microfinance industry. Muthoot Japan, according to the latest Global Wealth report
Microfin Ltd. is a part of Muthoot Pappachan Group by property consulting firm Knight Frank. According
(also known as Muthoot Blue) and is one of the to the latest wealth report, the number of
leading listed MFIs in India. HNWIsdefined as individuals with at least US$1
million in investable assetsrose by 4.4% globally in
190. (d) Hydrologist Gnter Blschl, a pioneer of 2024, reaching over 2.3 million people. Notably, the
water engineering, has been awarded the population of ultra-high-net-worth individuals
prestigious Stockholm Water Prize, according to a (UHNWIs), those with assets exceeding US$100
statement by the Prize Committee on March 20, million, surpassed 100,000 for the first time
2025. Blschls comprehensive database and analysis reflecting a broader trend of growing wealth across
have revolutionised and deepened the global the world. America continues to dominate as the
understanding of flood risk reduction and water world's primary wealth creator, with nearly 40% of
resource management. All this has helped advance global HNWIs residing in the US, a figure far
knowledge of flood risks under climate change on a surpassing China, which holds 20%, and Japan,
global scale, as per the statement. Professor Gnter which accounts for just over 5%. Despite this
Blschl is the worlds leading flood hydrologist. He dominance, India has seen impressive growth, with
has made groundbreaking contributions to its HNWI population expanding rapidly due to the
understanding the drivers of increasing flood risks country's economic dynamism and rising risk
under climate change coupled to the strong appetite, particularly in emerging markets. India's
influence of regional flood processes. remarkable progress is attributed to its thriving
startup ecosystem, which has been fueled by
191. (a) NITI Aayog launched the report titled From widespread smartphone access and a growing
Borrowers to Builders: Womens Role in Indias culture of entrepreneurship.
Financial Growth Story. The report launched by CEO
NITI Aayog, Shri B.V.R. Subrahmanyam reveals 193. (e) Life Insurance Corporation of India (LIC)
that more women in India are seeking credit and has been ranked third among the world's strongest
actively monitoring their credit scores. As of insurance brands, achieving a Brand Strength Index

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(BSI) score of 88 out of 100, as per the Brand Indias UPI ecosystem continues to scale new
Finance Insurance 100 2025 Report As per the heights, reflecting the rapid adoption of digital
Brand Finance report, the top 100 insurance brands transactions. On March 1, 2025, daily UPI
have grown 9% in brand value in 2025, driven by transactions surpassed Rs. 1 lakh crore for the first
improved underwriting results, and increased time, with total transactions amounting to Rs.
profitability. Market capitalization for top insurance 1,01,628 crore. This milestone reinforces the
brands rose as demand for insurance products increasing reliance on UPI for high-value
increased across sectors. Economic recovery and transactions, salary disbursements, and recurring
positive market sentiment have strengthened payments like rent and utilities.
investor confidence, while strategic mergers,
acquisitions, and technological advancements have 195. (b) The Unified Payments Interface (UPI)
accelerated industry growth. landscape in India is witnessing a significant shift,
with emerging players steadily gaining market
194. (c) The Unified Payments Interface (UPI) share. In a notable development, Flipkart Groups
landscape in India is witnessing a significant shift, payment app, super.money, has risen to become
with emerging players steadily gaining market the fifth-largest UPI player, surpassing Kunal Shah-
share. In a notable development, Flipkart Groups led CRED in February 2025. This reshuffling in the
payment app, super.money, has risen to become rankings reflects the increasing competition in the
the fifth-largest UPI player, surpassing Kunal Shah- digital payments ecosystem. According to the
led CRED in February 2025. This reshuffling in the National Payments Corporation of India (NPCI),
rankings reflects the increasing competition in the Flipkarts super.money recorded approximately 139
digital payments ecosystem. According to the million UPI transactions in February, overtaking
National Payments Corporation of India (NPCI), CRED, which saw its transaction volume remain
Flipkarts super.money recorded approximately 139 stagnant at around 130 million for the past year.
million UPI transactions in February, overtaking Meanwhile, Navi, a fintech and credit platform
CRED, which saw its transaction volume remain founded by Sachin Bansal, secured the fourth
stagnant at around 130 million for the past year. position in November 2024 and further solidified its
Meanwhile, Navi, a fintech and credit platform standing with 261 million UPI transactions in
founded by Sachin Bansal, secured the fourth February. This development underscores the
position in November 2024 and further solidified its growing influence of new-age fintech players in a
standing with 261 million UPI transactions in sector long dominated by market leaders PhonePe
February. This development underscores the and Google Pay. The influx of these platforms has
growing influence of new-age fintech players in a begun to fragment the market, chipping away at
sector long dominated by market leaders PhonePe the share of established giants. Market Share and
and Google Pay. The influx of these platforms has Competitive Landscape Despite the growing
begun to fragment the market, chipping away at competition, PhonePe and Google Pay continue to
the share of established giants. Market Share and dominate the UPI ecosystem, collectively holding
Competitive Landscape Despite the growing over 83% of the market. NPCIs data reveals that:
competition, PhonePe and Google Pay continue to PhonePe leads the market with a 47.5% share in
dominate the UPI ecosystem, collectively holding transaction volume and 51% in transaction value.
over 83% of the market. NPCIs data reveals that: Google Pay follows with 36% volume share and
PhonePe leads the market with a 47.5% share in 35% in transaction value. Paytm, the third-largest
transaction volume and 51% in transaction value. UPI player, holds a 6.7% volume share and 5.3%
Google Pay follows with 36% volume share and value share. Emerging players such as Navi (1.5%),
35% in transaction value. Paytm, the third-largest CRED (0.9%), and super.money (0.7%) are gaining
UPI player, holds a 6.7% volume share and 5.3% traction. WhatsApp Pays Resurgence January 2025
value share. Emerging players such as Navi (1.5%), saw a major breakthrough for WhatsApp Pay, which
CRED (0.9%), and super.money (0.7%) are gaining re-entered the top 10 UPI apps after NPCI lifted its
traction. WhatsApp Pays Resurgence January 2025 user cap. The messaging giant processed 61 million
saw a major breakthrough for WhatsApp Pay, which UPI transactions in January, more than doubling its
re-entered the top 10 UPI apps after NPCI lifted its 26.08 million transactions from the same period last
user cap. The messaging giant processed 61 million year. This resurgence indicates WhatsApp Pays
UPI transactions in January, more than doubling its increasing adoption, further intensifying competition
26.08 million transactions from the same period last in the sector. UPI Growth Continues to Set Records
year. This resurgence indicates WhatsApp Pays Indias UPI ecosystem continues to scale new
increasing adoption, further intensifying competition heights, reflecting the rapid adoption of digital
in the sector. UPI Growth Continues to Set Records transactions. On March 1, 2025, daily UPI

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transactions surpassed Rs. 1 lakh crore for the first challenges, including conflict, poverty, and social
time, with total transactions amounting to Rs. unrest.
1,01,628 crore. This milestone reinforces the
increasing reliance on UPI for high-value 197. (e) Finland has secured its position as the
transactions, salary disbursements, and recurring world's happiest nation for the eighth consecutive
payments like rent and utilities. year, as revealed in the World Happiness Report
2025 released. The Nordic countries continue to
196. (d) Finland has secured its position as the dominate the top positions, with Denmark, Iceland
world's happiest nation for the eighth consecutive and Sweden maintaining their respective rankings
year, as revealed in the World Happiness Report in the top four spots. For the eighth year in a row,
2025 released. The Nordic countries continue to Finland secured the top spot, with its citizens
dominate the top positions, with Denmark, Iceland reporting an average life satisfaction score of 7.74
and Sweden maintaining their respective rankings on a scale of 1 to 10, reported the Fortune. The
in the top four spots. For the eighth year in a row, rankings were determined through self-evaluation
Finland secured the top spot, with its citizens surveys where individuals rated their own lives. The
reporting an average life satisfaction score of 7.74 research was conducted collaboratively by the
on a scale of 1 to 10, reported the Fortune. The Wellbeing Research Centre at the University of
rankings were determined through self-evaluation Oxford, alongside Gallup and the UN Sustainable
surveys where individuals rated their own lives. The Development Solutions Network. The study
research was conducted collaboratively by the highlights that faith in others' kindness has a
Wellbeing Research Centre at the University of stronger correlation with happiness than previously
Oxford, alongside Gallup and the UN Sustainable recognised. For instance, confidence in wallet return
Development Solutions Network. The study serves as a reliable indicator of collective happiness,
highlights that faith in others' kindness has a with Nordic nations showing high rates of both
stronger correlation with happiness than previously expected and actual wallet returns. Nordic countries
recognised. For instance, confidence in wallet return continued to dominate the rankings, with Denmark,
serves as a reliable indicator of collective happiness, Iceland, Sweden, and the Netherlands filling out the
with Nordic nations showing high rates of both top five. Notably, Costa Rica (No. 6) and Mexico
expected and actual wallet returns. Nordic countries (No. 10) entered the top 10 for the first time, while
continued to dominate the rankings, with Denmark, the U.S. fell to No. 24its lowest ranking ever. Other
Iceland, Sweden, and the Netherlands filling out the high-ranking nations included Norway (No. 7),
top five. Notably, Costa Rica (No. 6) and Mexico Israel (No. 8), and Luxembourg (No. 9). Take a look
(No. 10) entered the top 10 for the first time, while at the list: 1. Finland 2. Denmark 3. Iceland 4.
the U.S. fell to No. 24its lowest ranking ever. Other Sweden 5. Netherlands 6. Costa Rica 7. Norway 8.
high-ranking nations included Norway (No. 7), Israel 9. Luxembourg 10. Mexico India has made a
Israel (No. 8), and Luxembourg (No. 9). Take a look slight improvement in its happiness quotient,
at the list: 1. Finland 2. Denmark 3. Iceland 4. moving up from 126 in 2024 to 118 in the latest
Sweden 5. Netherlands 6. Costa Rica 7. Norway 8. World Happiness Report, 2025. However, this
Israel 9. Luxembourg 10. Mexico India has made a ranking still places India behind several conflict-
slight improvement in its happiness quotient, affected countries, including Ukraine, Mozambique,
moving up from 126 in 2024 to 118 in the latest and Iraq. Among India's neighboring countries,
World Happiness Report, 2025. However, this Nepal ranked the highest at 92, followed by
ranking still places India behind several conflict- Pakistan at 109, China at 68, while Sri Lanka and
affected countries, including Ukraine, Mozambique, Bangladesh ranked lower at 133 and 134,
and Iraq. Among India's neighboring countries, respectively. Afghanistan has been ranked as the
Nepal ranked the highest at 92, followed by unhappiest country in the world. The country's low
Pakistan at 109, China at 68, while Sri Lanka and ranking is largely attributed to the struggles faced
Bangladesh ranked lower at 133 and 134, by Afghan women, who reported that their lives
respectively. Afghanistan has been ranked as the have become increasingly difficult. Following
unhappiest country in the world. The country's low Afghanistan, Sierra Leone and Lebanon ranked as
ranking is largely attributed to the struggles faced the second and third unhappiest countries,
by Afghan women, who reported that their lives respectively. These countries have faced significant
have become increasingly difficult. Following challenges, including conflict, poverty, and social
Afghanistan, Sierra Leone and Lebanon ranked as unrest.
the second and third unhappiest countries,
respectively. These countries have faced significant 198. (c) The Department of Administrative Reforms
and Public Grievances (DARPG), under the Ministry

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of Personnel, Public Grievances and Pensions, has o Improved facilities at Department of Public
released the 19th edition of its monthly Secretariat Enterprises, Ministry of Finance.
Reforms report for February 2025. The report
provides an extensive analysis of the ongoing o Rooftop revamp for secure storage at Aayakar
initiatives aimed at transforming governance and Bhawan, Kolkata, Central Board of Direct Taxes.
administration through (i)Swachhata and Reducing
Pendency to Minimum Levels (ii) Increasing 3. Increasing Efficiency in Decision Making
Efficiency in Decision Making, (iii) e-Office and e-Office Implementation & Analytics:
Implementation and Analytics, This edition also
includes the following: • The adoption of delayering initiatives has
significantly reduced the average distinct
• Best Practices under "Citizen Centric Practices" transaction levels for active files from 7.19 in 2021
to 4.24 as of February 2025.
• In Focus: Ministry of External Affairs (MEA)
• 92.70% of the files created in February 2025 were
• Cabinet Secretariat Directions on e-Office e-Files, improving from 92.56% in January 2025.
Implementation
o
Key Highlights of the February 2025 Report: 1.
Swachhata & Reduction in Pendency: ▪ 94.55% of receipts processed were e-Receipts,
with 37 Ministries/Departments achieving 100% e-
• Cleanliness drives were conducted successfully at Files adoption at remarkable levels.
5,825 sites nationwide. 19Ministries/Department have 100% share of e-
Receipts for Feb25.
• Approximately 3.47 lakh sq. ft of office space has
been freed, with top contributors being the Ministry • A notable reduction in inter-ministerial file
of Coal (1,41,721 sq. ft) and Ministry of Railways movements to 2,959 files, compared to 3,238 in
(51,928 sq. ft). January 2025, indicating streamlined administrative
processes.
• Rs 156.41 Crore in revenue generated from scrap
disposal, with significant contributions from These initiatives underscore the Government of
Ministries such as Railways, Heavy Industries, and Indias ongoing commitment to digitally enabled,
Coal. transparent, efficient, and citizen-focused
governance, aligning with the broader goal of
• Effective record management saw 1,74,565 administrative excellence and responsive public
physical files reviewed, with 1,05,818 files weeded administration.
out, alongside reviewing 67,457 e-Files and closing
38,451 of them. 199. (d) March 1 marks Zero Discrimination Day, a
global initiative championing equality, inclusivity
• Disposal of 4,80,422 public grievances (91.21% and diversity. It serves as a powerful reminder that
disposed), along with the disposal of 762 MP everyone, irrespective of age, gender, nationality,
references, 291 state government references. ethnicity, skin tone, profession, educational
background, beliefs, or any other distinguishing
2. Best Practices: Citizen-Centric Initiatives: factor, has the right to live a life of dignity and
fulfilment. This annual observance sheds light on
• Ministries and Departments implemented discrimination in various forms, encouraging a more
innovative citizen-centric practices, enhancing just and equitable society. Each year, the day
transparency and public accessibility. Examples adopts a unique theme to address pressing issues
include: where discrimination persists. This year the theme
is We stand together.
o RTI & Public Grievances Office at Electronics
Niketan, Ministry of Electronics and Information, 200. (b) In May 2022, the General Assembly
Technology adopted A/RES/76/265 proclaiming 1 March as
World Seagrass Day. The resolution highlights the
o Infrastructure enhancements at BEL Brij Vihar urgent need to raise awareness at all levels and to
Colony, Ghaziabad, Department of Defence. promote and facilitate actions for the conservation
of seagrasses in order to contribute to their health

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and development, bearing in mind that enhancing stakeholders, conducts nationwide awareness
ecosystem services and functions. Seagrasses are activities, including multimedia campaigns, on-
marine flowering plants that are found in shallow ground educational programs and social media-
waters in many parts of the world, from the tropics based outreach. 2. The DPAW shall be observed
to the Arctic circle. Seagrasses have been declining from March 10 to 16, 2025. Under the mission Har
globally since the 1930s, with the most recent Payment Digital, the theme for the current year is
census estimating that 7% of this key marine India Pays Digitally. This theme reflects Indias
habitat is being lost worldwide per year. transformative journey toward a digitally
empowered citizenry, with the ubiquity and
201. (c) World Wildlife Day 2025, observed on convenience of digital payments. 3. In his address
March 3, focuses on the theme Wildlife Governor commended the efforts made so far for
Conservation Finance: Investing in People and increased adoption of digital payments and
Planet. This global event aims to raise awareness observed that there is still significant potential for
about the urgent need for financial investments in expansion of digital payments in the country. He
wildlife conservation, amidst a triple planetary crisis urged members of the payment industry, banks,
affecting over one million species. Established by media and users to encourage the use of digital
the United Nations General Assembly in 2013, the payments. 4. As part of the awareness initiative,
day commemorates the adoption of the Convention RBI is also pleased to announce two competitions
on International Trade in Endangered Species of which are open for public participation: (a) Har
Wild Fauna and Flora (CITES) in 1973. Payment Digital Short Video Contest (b) Har
Stakeholders, including governments and NGOs, are Payment Digital Comic Strip Contest
encouraged to collaborate on sustainable financial
models to protect biodiversity. 205. (b) CISF Raising Day is marked every year on
March 10 to acknowledge and honour the Central
202. (c) The International Day for Disarmament Industrial Security forces of India. The paramilitary
and Non-Proliferation Awareness seeks to promote police force plays a crucial role in providing security
better awareness and understanding of to critical government and private sectors. The
disarmament issues among the public, especially Central Industrial Security Force was created under
young people. Observed on 5 March, the the CISF Act of 1968 and established in 1969.
International Day for Disarmament and Non- According to the official website of the CISF, the
Proliferation Awareness plays a role in deepening force provides security to the Department of Space,
the global publics understanding about how the Department of Atomic Energy, the Airports, the
disarmament efforts contribute to enhancing peace Delhi Metro, the ports, the historical monuments
and security, preventing and ending armed and the basic areas of the Indian economy such as
conflicts, and curbing human suffering caused by petroleum and natural gas, electricity, coal, steel
weapons. and mining.

203. (c) The representation of women in the 206. (b) World Consumer Rights Day, observed
judiciary is significant for many reasons. In addition annually on March 15, serves as an essential
to ensuring that the legal system is developed with reminder of the need to uphold consumer rights and
all of society in mind, it also inspires the next protection. The day is an opportunity to promote
generation of female judges and motivates them to the basic rights of all consumers and encourage
achieve their goals. While equality in the judiciary those rights to be respected and protected. World
has been historically uneven, steps are being taken Consumer Rights Day was first observed in 1983.
to remedy this as evidenced by the declaration by The theme for World Consumer Rights Day 2025 is,
the United Nations General Assembly of 10 March 'A Just Transition to Sustainable Lifestyles.' As India
as the International Day of Women Judges. The observes World Consumer Rights Day 2025, the
General Assembly resolution, drafted by the State focus remains on ensuring a safer, more
of Qatar, is tangible proof of an positive shift. transparent, and consumer-friendly economy.

204. (c) Governor, Reserve Bank of India (RBI) 207. (c) Islamophobia is a fear, prejudice and
inaugurated the 5th Digital Payments Awareness hatred of Muslims that leads to provocation,
Week (DPAW). DPAW is an initiative to highlight the hostility and intolerance by means of threatening,
impact and importance of digital payments and to harassment, abuse, incitement and intimidation of
create awareness about safe usage of digital Muslims and non-Muslims, both in the online and
payment products. During the week, RBI, along offline world. Motivated by institutional, ideological,
with payment system operators, banks and other political and religious hostility that transcends into

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structural and cultural racism. The United Nations workplace, and enhanced access to healthcare for
General Assembly adopted a resolution sponsored individuals with Down syndrome.
by 60 Member-States of the Organization of Islamic
Cooperation (OIC), which designated 15 March as 211. (d) The International Forest Day is celebrated
the International Day to Combat Islamophobia. The annually on March 21. This year the theme of
document stresses that terrorism and violent International Forest Day will focus on "Forest and
extremism cannot and should not be associated Food", which highlights the vital role of forests.
with any religion, nationality, civilization, or ethnic Forests are the lungs of our earth, absorbing carbon
group. dioxide, releasing oxygen, and sustaining over one
third of the biodiversity. The International Day of
208. (c) The General Assembly of the United Forests was established by the United Nations
Nations in its resolution 66/281 of 12 July 2012 General Assembly (UNGA) in 2012. This initiative
proclaimed 20 March the International Day of aims to focus on the vital role of forests in climate
Happiness, recognizing the relevance of happiness regulation, human well-being and biodiversity. Each
and well-being as universal goals and aspirations in year, the event follows a specific theme to address
the lives of human beings around the world and the current environmental challenges this year.The
importance of their recognition in public policy International Forest Day is celebrated annually on
objectives. The resolution was initiated by Bhutan, a March 21. This year the theme of International
country which recognized the value of national Forest Day will focus on "Forest and Food", which
happiness over national income since the early highlights the vital role of forests. Forests are the
1970s and famously adopted the goal of Gross lungs of our earth, absorbing carbon dioxide,
National Happiness over Gross National Product. It releasing oxygen, and sustaining over one third of
also hosted a High Level Meeting on "Happiness and the biodiversity. The International Day of Forests
Well-Being: Defining a New Economic Paradigm" was established by the United Nations General
during the sixty-sixth session. The theme for the Assembly (UNGA) in 2012. This initiative aims to
International Day of Happiness in 2025 is "Caring focus on the vital role of forests in climate
and Sharing." This theme highlights that lasting regulation, human well-being and biodiversity. Each
happiness comes from caring for each other, feeling year, the event follows a specific theme to address
connected, and being part of something bigger. current environmental challenges this year.

209. (a) French Language Day is annually 212. (b) Every year, March 20 is observed as World
celebrated on March 20, with this year's festivities Sparrow Day to raise awareness about their
set to take place on Wednesday. Established by the dwindling numbers. This day serves as a reminder
United Nations in 2010, the day aims to promote that even the most common creatures cannot
the preservation and revitalization of French escape extinction. World Sparrow Day was initiated
language and culture. French is widely spoken, with by "Nature Forever," a bird conservation
approximately 120 million speakers across 29 organization in 2010. The aim was to raise
countries, alongside their native languages. In awareness about the declining sparrow population.
addition to French Language Day, the United The event has spread to over 50 countries. The goal
Nations also obseves the International day of is to protect sparrows and stop their decline. In
Francophonie on 20th March annually. This is day 2012, the house sparrow became Delhi's state bird.
honors the Agency for Cultural and Technical Since then, the event has gained global
Cooperative (ACCT), established in 1970 to promote attention.World Sparrow Day was initiated by
French language and culture globally. "Nature Forever," a bird conservation organization
in 2010. The aim was to raise awareness about the
210. (a) In December 2011, the General Assembly declining sparrow population. The event has spread
declared 21 March as World Down Syndrome Day to over 50 countries. The goal is to protect sparrows
(A/RES/66/149). The General Assembly decided, and stop their decline. In 2012, the house sparrow
with effect from 2012, to observe World Down became Delhi's state bird. Since then, the event has
Syndrome Day on 21 March each year. The gained global attention. In India, sparrows are not
estimated incidence of Down syndrome is between just birds; they are a symbol of shared history and
1 in 1,000 to 1 in 1,100 live births worldwide. The culture. Known by various names such as "Goraiya"
theme of World Down Syndrome Day 2025 is in Hindi, "Kuruvi" in Tamil and "Chirya" in Urdu,
"Improve Our Support Systems". The theme calls sparrows have been a part of daily life for
for the development of stronger community generations. They used to fill the air with their
support, family and caregiver support, inclusive cheerful songs, especially in villages, creating
education systems, advocacy for inclusion in the memories for many. Amid these challenges, there

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are several inspiring efforts to protect sparrows and Romero, who was murdered on 24 March 1980. On
bring them back into our lives. One such initiative is 21 December 2010, the United Nations General
the "Save the Sparrow" campaign led by Assembly proclaimed 24 March as the International
environmental conservationist Jagat Kinkhabwala. Day for the Right to the Truth concerning Gross
He emphasizes the need to balance development Human Rights Violations and for the Dignity of
with environmental protection. PM Modis support for Victims. The date was chosen because on 24 March
this campaign in 2017 has significantly increased 1980, Archbishop Oscar Arnulfo Romero of El
awareness. Salvador was assassinated, after denouncing
violations of human rights. The purpose of the Day
213. (d) The International Forest Day is celebrated is to: Honour the memory of victims of gross and
annually on March 21. This year the theme of systematic human rights violations and promote the
International Forest Day will focus on "Forest and importance of the right to truth and justice; Pay
Food", which highlights the vital role of forests. tribute to those who have devoted their lives to,
Forests are the lungs of our earth, absorbing carbon and lost their lives in, the struggle to promote and
dioxide, releasing oxygen, and sustaining over one protect human rights for all; Recognize, in
third of the biodiversity. The International Day of particular, the important work and values of
Forests was established by the United Nations Archbishop Oscar Arnulfo Romero, of El Salvador,
General Assembly (UNGA) in 2012. This initiative who was assasinated on 24 March 1980, after
aims to focus on the vital role of forests in climate denouncing violations of the human rights of the
regulation, human well-being and biodiversity. Each most vulnerable populations and defending the
year, the event follows a specific theme to address principles of protecting lives, promoting human
current environmental challenges this year. dignity and opposition to all forms of violence.

214. (c) World Water Day celebrates water and 217. (e) Every 23 March, the World Meteorological
inspires action to tackle the global water crisis. A Organization commemorates the coming into force
core focus of World Water Day is to support the of the Convention establishing the World
achievement of Sustainable Development Goal Meteorological Organization on 23 March 1950. It
(SDG) 6: water and sanitation for all by 2030. showcases the essential contribution of National
World Water Day is an annual United Nations Meteorological and Hydrological Services to the
Observance held on 22 March focusing on the safety and wellbeing of society and is celebrated
importance of freshwater, coordinated by UN-Water with activities around the world. The themes chosen
and led by one or more UN-Water Members and for World Meteorological Day reflect topical
Partners with a related mandate. The theme of weather, climate or water-related issues. The theme
World Water Day 2025 is Glacier Preservation. for World Meteorological Day 2025 is "Closing the
World Water Day, held on 22 March every year early warning gap together".
since 1993, is an annual United Nations
Observance. 218. (b) In 2006, the United Nations General
Assembly, through resolution 61/19, recognized
215. (b) Each year on 24 March World that the slave trade and slavery are among the
commemorate World TB Day to raise public worst violations of human rights in the history of
awareness about the devastating health, social and humanity, bearing in mind particularly their scale
economic consequences of TB and to step up efforts and duration and designated 25 March 2007 as the
to end the global TB epidemic. The date marks the International Day for the Commemoration of the
day in 1882 when Dr. Robert Koch announced that Two-hundredth Anniversary, of the Abolition of the
he had discovered the bacterium that causes TB, Transatlantic Slave Trade. The following year,
which opened the way towards diagnosing and through resolution 62/122, it designated 25 March
curing. This years theme, Yes! We Can End TB: as an annual International Day of Remembrance of
Commit, Invest, Deliver, is a bold call for hope, the Victims of Slavery and the Transatlantic Slave
urgency, and accountability. World leaders at the Trade, beginning in 2008. The Abolition of the Slave
2023 UN High-Level Meeting pledged to accelerate Trade Act was passed in the United Kingdom on 25
efforts to end TB. March 1807.

216. (c) Each year, on 24 March, the International 219. (a) Every year, it is observed on March 25 by
Day for the Right to the Truth Concerning Gross the United Nation to commemorate the anniversary
Human Rights Violations and for the Dignity of of the abduction of Alec Collett, who was a
Victims is observed. This annual observance pays journalist and died while working for the UN. Take a
tribute to the memory of Monsignor scar Arnulfo look at its origin, the purpose behind the

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observation, and more. The first resolution on staff Safoev (Uzbekistan), Dr. Vindhya Persaud
security was adopted by the UN Security Council in (Guyana), and Ms. Antonia Orellana Guarello (Chile)
September 1993. Since the founding of the United to strengthen cooperation on gender equality and
Nations in 1945, hundreds of brave men and social welfare. CSW is the principal global
women have lost their lives in its service. During intergovernmental body exclusively dedicated to the
the 1990s, the growing number and scale of UN promotion of gender equality, the rights and the
peacekeeping missions put many more at risk. More empowerment of women. A functional commission
lives were lost during the 1990s than in the of the UN Economic and Social Council (ECOSOC),
previous four decades combined. the forthcoming session of the Commission will be
held from 10th to 21st March, 2025.
220. (c) Minister for CommunicationsShri
Jyotiraditya M Scindia visited the prestigious Mobile 222. (b) 4TH NO MONEY FOR TERROR
World Congress (MWC) in Barcelona, Spain, CONFERENCE IN MUNICH. During the 4th NMFT
engaging in top level meetings with CEOs, Conference India advocated that unity amongst
addressed key sessions and witnessed major tech nations is essential in the fight against Terrorism
innovations in one of the worlds largest gatherings and India stands steadfast with the global
for the mobile and telecommunications industry. community in this fight. India raised concerns that
During the MWC 2025 visit, Shri Scindia unveiled Terror financing increasingly has cross border
the curtains of India Mobile Congress 2025 and linkages in terms of flow of funds and due to the
inaugurated Bharat Pavilion organized by the development of new digital technologies; the
Telecom Equipment & Services Export Promotion sources, methods and channels used for flow of
Council (TEPC) with the support of the Department assets by terrorists are becoming increasingly more
of Telecommunications, Government of India, complex, and pose a significant challenge to global
featured 38 Indian telecom equipment security. In order to meet the challenges of terror
manufacturers showcasing their state-of-the-art funding, the Government has strengthened the
products. The Minister also inaugurated VVDNs intelligence set up to collect, collate and
indigenously designed & manufacturedAI based Wi- disseminate information on real time basis, the
Fi-7 during his visit to Bharat Pavillion. He also legal regime has been strengthened by amending
visited other booths such as Meta and Google the Unlawful Activities (Prevention) Act, 1967 and
Cloud, catching a glimpse of their various the Prevention of Money Laundering Act, 2002, and
technological solutions. a Terror Funding and Fake Currency (TFFC) Cell and
AboutMobileWorldCongress2025 MWC 2025, three new verticals related to Cyber Terrorism,
themed "Converge. Connect. Create.", is taking Explosive and Prohibited Arms and Human
place from March 36 in Barcelona, bringing together Trafficking have been created in NIA, to conduct
101,000 attendees, 2,700 exhibitors, and leaders focused investigation of terror funding and fake
from 200 countries to showcase the latest in 5G, AI, currency cases. A Fake Indian Currency Note Co-
IoT, and digital transformation. With 1,200 ordination Centre (FCORD) has been formed by the
speakers, including top executives and Ministry of Home Affairs to share intelligence inputs
policymakers, key themes include 5G Inside, AI , and information amongst the different security
Connect X, Enterprise Re-invented, Game Changers agencies of the Centre and States to curb the
and Digital DNA.. MWC 2025 is the worlds leading circulation of Counterfeit currencies in the country.
platform for mobile innovation, networking, and The regulatory aspects for the Financial Ecosystem
future connectivity. are being looked after by Reserve Bank of India.
The Prevention of Money Laundering (Maintenance
221. (e) A delegation of the Government of India of Records) Rules, 2005 empowers the Director,
led by Smt. Annpurna Devi, Union Minister, Women Financial Intelligence Unit- India (FIU-IND) to issue
and Child Development (WCD), participated in the guidelines in consultation with the concerned
69th session of the Commission on the Status of regulator for detecting and reporting suspicious
Women, which started on 10th March 2025 at the transactions to FIU-IND, as per news by the
United Nations Headquarters in New York. The Minister of State in the Ministry of Home Affairs
session witnessed large-scale participation from all Nityanand Rai in the Rajya Sabha in March 2025
UN member states, intergovernmental India is participating in NMFT Conferences since
organizations, the private sector, philanthropists, 2018.
academia, civil society, womens collectives, and UN
agencies. At the 69th CSW session, the Minister 223. (d) Co-hosted by the Government of India and
held bilateral meetings with leaders including Ms. UN Women, a Ministerial Roundtable was organised
Melrose Karminty (Sierra Leone), Mr. Sodyq S. along the sidelines of the 69th session of the

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Commission on the Status of Women on 12th containing drug resistant TB treatment regimen has
March, 2025 at UN Headquarters in New York. The been rolled out across all State/ UTs that has
Roundtable spotlighted the critical importance of improved treatment success rates of drug-resistant
digital and financial inclusion to women's TB patients from 68% in 2020 to 75% in 2022.
empowerment and leadership. The event provided a
global platform for experience sharing on emerging 226. (e) The Ministry of Youth Affairs & Sports,
issues and strategies to implement the 12 critical Government of India, is set to host the third Central
areas of concern in the Beijing Platform for Action, Asian Youth Delegation to India from 22nd to 28th
through two Ministerial Roundtables on March 2025, under the International Youth
interconnected themes of: 'Digital Public Exchange Programme (IYEP). This initiative aims to
Infrastructure to accelerate women-led foster youth collaboration, promote cultural
development ' and 'Financing inclusion ' Criticality of exchange, and strengthen diplomatic ties between
Core Resources.' The roundtable witnessed active India and the five Central Asian nations:
participation from Ministers from Indonesia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan,
Morocco, Australia, Panama, and Qatar, who shared and Uzbekistan. The youth exchange program is in
their respective nations' experiences and line with the vision articulated during the India-
perspectives on advancing women's rights. Central Asia Summit in January 2022.This initiative
aims to foster youth collaboration, promote cultural
224. (b) The 353rd Governing Body meeting of the exchange, and strengthen diplomatic ties between
International Labour Organisation (ILO) is being India and the five Central Asian nations:
held in Geneva, Switzerland, from March 10 to Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan,
March 20, 2025. The meeting brings together the and Uzbekistan. The youth exchange program is in
tripartite constituents of ILO i.e. representatives line with the vision articulated during the India-
from governments, workers, and employers, to Central Asia Summit in January 2022. Key
discuss crucial matters relating to the world of work Highlights of the Visit: Cultural and Heritage
and the governance of ILO. India extended its Immersion: Visits to the Taj Mahal, Agra Fort,
support to ILO on the organization of the UN led Humayun's Tomb, and Goa's heritage sites to
Second World Summit for Social Development in experience India's architectural and historical
Doha, Qatar later this year, as it aims at reinforcing legacy. Academic and Economic Engagement:
the social dimension of the 2030 Agenda for Social Interaction with students and faculty at IIT Delhi
Development. India's inspiring progress in and visits to Goa Chamber of Commerce & Industry
promoting social justice and development was (GCCI)/ Goa Institute of Management to explore
highlighted, as India has doubled its social India's advancements in technology, research, and
protection coverage to 48.8 percent, increasing the entrepreneurship. Youth Networking &
average global social protection coverage by over 5 Volunteerism: Engagement with MY Bharat
percent. volunteers to discuss youth empowerment,
leadership, and innovation. High-Level Diplomatic
225. (d) Union Minister of State for Health and Interactions: Call-on with the Hon'ble External
Family Welfare Anupriya Patel inaugurated the India Affairs Minister, Hon'ble Chief Minister of Goa, and
Innovation Summit Pioneering Solutions to End TB, Hon'ble Governor of Goa is scheduled to be
at Bharat Mandapam Convention Centre. The organised, emphasizing the importance of youth
Summit is being organized jointly by the diplomacy. Cultural Exchange & Gala Dinner: A
Department of Health Research-Indian Council of roundtable and gala dinner will be organized in the
Medical Research (DHR-ICMR) and the Central TB honour of the delegation wherein the delegates will
Division (CTD), Ministry of Health & Family Welfare. exchange their best practices to engage with youth
The summit aims to accelerate India's progress in their nations.
towards TB elimination by 2025. Highlighting the
achievements of the National TB Elimination 227. (c) As per a secondary market research
Program (NTEP), Smt. Patel stated that the analysis published by Bain and Company in the year
Program is steadily progressing towards the goal of 2025, Indian pharmaceutical exports ranked 11th
eliminating TB by 2025. The number of missing globally in value terms in the year 2023 and
cases has been reduced from 15 lakh in 2015 to 2.5 accounted for 3% of the total pharmaceutical
lakhs in 2023. The programme was able to notify exports.As per a secondary market research
25.5 lakh TB and 26.07 lakh cases in 2023 and analysis published by Bain and Company in the year
2024-the highest ever. The Union Minister of State 2025, Indian pharmaceutical exports ranked 11th
also highlighted the new initiatives under NTEP. She globally in value terms in the year 2023 and
stated that a shorter and safer oral Bedaquiline- accounted for 3% of the total pharmaceutical

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exports. The Central Drugs Standard Control supplementary price list, if required, in Form-V (for
Organisation (CDSCO) and the Ministry of Health formulations) or Form-VI (for medical devices) to
and Family Welfare have taken several measures to the dealers, State Drugs Controllers and the
ensure the quality, safety and efficacy of medicines, Government. This information was given by the
as described below: In order to assess the Union Minister of State for Chemicals and Fertilizers
regulatory compliance of drug manufacturing Smt Anupriya Patel in Rajya Sabha in written reply
premises in the country, CDSCO, in collaboration to a question.
with State regulators, initiated risk-based
inspections of drug manufacturing and testing firms 228. (d) Currently, the 6G technology is under
in December 2022. 905 units have been inspected, development phase at international level and is
resulting in 694 actions being taken. Depending on expected to be available by 2030. Hon'ble Prime
the severity of non-compliance, the actions taken Minister has released India's 6G vision "Bharat 6G
include orders to stop production, orders to stop Vision" document on March 23, 2023 which
testing, suspension or cancellation of licence and envisaged India to be a frontline contributor in
issuance of warning or notice to show cause. The design, development and deployment of 6G
Central Government, vide its notification dated technology by 2030. Bharat 6G Vision is based on
28.12.2023, amended the Drugs Rules, 1945 to principles of affordability, sustainability and
revise Schedule M to the said rules related to Good ubiquity. Also, Department of Telecom has
Manufacturing Practices and requirements of facilitated setting up of 'Bharat 6G Alliance' which is
premises, plant and equipment for pharmaceutical an alliance of domestic industry, academia, national
products. From 29.6.2024, the revised schedule has research institutions and standards organisations to
become effective for drug manufacturers with develop action plan according to the Bharat 6G
turnover of over 250 crore. For manufacturers Vision.Bharat 6G Vision is based on principles of
having a turnover of up to 250 crore, vide affordability, sustainability and ubiquity. Also,
notification dated 11.2.2025, time for Department of Telecom has facilitated setting up of
implementation has been granted till 31.12.2025. 'Bharat 6G Alliance' which is an alliance of domestic
The Drugs and Cosmetics Act, 1940 was amended industry, academia, national research institutions
through an amending Act of 2008 to provide for and standards organisations to develop action plan
stringent penalties for manufacture of spurious and according to the Bharat 6G Vision. 5G Rollout The
adulterated drugs. Certain offences were also made Government has taken several initiatives for rollout
cognizable and non-bailable. National of 5G services in the country, which, inter alia,
Pharmaceuticals Pricing Policy (NPPP), 2012 lays include the following: i. Auction of spectrum for 5G
down principles for regulation of prices of drugs The mobile services. ii. Financial reforms to rationalize
principles for regulation of prices of drugs are laid Adjusted Gross Revenue (AGR), Bank Guarantees
down by the National Pharmaceuticals Pricing Policy (BGs) and interest rates. iii. Removal of Spectrum
(NPPP), 2012. The key principles of regulation of Usage Charges for spectrum acquired in auction of
prices under the said policy are (i) regulation on the 2022 and thereafter. iv. Simplification of procedure
basis of essentiality of drugs, (ii) regulation of for SACFA (Standing Advisory Committee on Radio
prices of formulations only, i.e., medicines used by Frequency Allocations) clearance. v. Launch of PM
consumers and not the upstream products such as GatiShakti Sanchar portal and RoW (Right of Way)
bulk drugs or intermediates, and (iii) regulation Rules to streamline RoW permissions and clearance
through market-based pricing and not cost-based of installation of telecom infrastructure. vi. Time-
pricing. In accordance with the said policy, the bound permission for use of street furniture for
National Pharmaceutical Pricing Authority (NPPA) installation of small cells and telecommunication
under the Department of Pharmaceuticals (DoP) line. 5G services have been rolled out in all States/
fixes ceiling prices under the provisions of the Drugs UTs across the country and presently it is available
(Prices Control) Order (DPCO), 2013. The in 773 out of 776 districts in the country including
Integrated Pharmaceutical Database Management Lakshadweep. As on 28.02.2025, 4.69 lakhs 5G
System (IPDMS) is a mechanism for collecting Base Transceiver Stations (BTSs) have been
market-based data related to drugs as required installed by the Telecom Service Providers (TSPs)
under DPCO, 2013, which facilitates online across the country. AI-driven Digital Twins Artificial
submission of required returns/reports. Its current Intelligence (AI)-driven Digital Twins can
version, IPDMS 2.0, displays information regarding revolutionize infrastructure planning and design by
effective ceiling prices and retail prices. This data is addressing the challenges in traditional methods
updated from time to time for the information of all like siloed, static, incomplete data and manual
stakeholders. DPCO, 2013 requires every interventions. The Department of
manufacturer to issue a price list and Telecommunications (DoT) unveiled the 'Sangam:

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Digital Twin' initiative on 15.02.2024, by publishing enabling participants to transform visionary ideas
Expressions of Interest (EoI) inviting industry into scalable technologies. The hackathon invites
pioneers, startups, MSMEs and academia to proposals focused on key 5G applications such as
participate in the initiative. As a response to the AI-driven network maintenance, IoT-enabled
EoI, 169 applicants were selected which included solutions, 5G broadcasting, smart health,
start-ups as well. The implementation of AI driven agriculture, industrial automation, non-terrestrial
Digital Twins in telecom infrastructure will depend networks (NTN), D2M, V2X, and quantum
on factors such as regulatory support, stakeholder communication. Participants are encouraged to
interest, extent of collaboration, and engagement of leverage 5G features like network slicing, Quality of
relevant parties. This information was given by the Service (QoS), and call-flow scenarios to address
Minister of State for Communications and Rural real-world problems. The hackathon offers an array
Development, Dr. Pemmasani Chandra Sekhar in a of support mechanisms to help participants take
written reply to a question in Lok Sabha. their innovations to the next level. Participants will
get assistance in IPR filing for commercialising their
229. (c) On March 14, 2025, ISRO successfully IP assets. Winners will receive significant rewards,
conducted the flight acceptance hot testing of the including Rs. 5,00,000 for the 1st place, Rs.
cryogenic engine identified for the sixth operational 3,00,000 for the runner-up, and Rs. 1,50,000 for
mission of LVM3 launch vehicle (LVM-M6) at ISRO the 2nd runner-up. Also, special mentions will be
Propulsion Complex (IPRC), Mahendragiri. given for Best Idea and Most Innovative Prototype,
Cryogenic engines for every mission undergo hot each receiving Rs. 50,000. 10 labs will also be given
testing as part of its acceptance for the flight. Hot Certificates of Appreciation for Best 5G Use case
tests for the indigenous cryogenic engine and one Certificate for Best idea from Emerging
(CE20)used in the Cryogenic Upper Stage of LVM3 Institute. The programme, supported by a Rs. 1.5
were so far performed at the High-Altitude Test crore budget, covers seed funding, IPR assistance,
(HAT) facility at IPRC, where vacuum conditions are mentorship, and operational costs.
simulated with complex installations, limiting the
maximum hot test duration to 25s. In the current 232. (c) In a groundbreaking move to modernize
test, the engine was tested for a longer duration of mineral targeting in India, IndiaAI, an Independent
100s for the first time using an innovative Nozzle Business Division (IBD) under Digital India
Protection System under non-vacuum conditions. Corporation (DIC), Ministry of Electronics & IT
This test method significantly reduces the setup (MeitY), in collaboration with the Geological Survey
time and effort required for the flight acceptance of India (GSI), Ministry of Mines, has launched the
testing of a cryogenic engine, which in turn helps IndiaAI Hackathon on Mineral Targeting. The
faster delivery of cryogenic stages for space initiative is aimed at leveraging AI and ML
missions. technologies to enhance mineral discovery and
geological analysis. Participants will use multi-
230. (c) SpaceX and NASA have launched a mission parametric geoscience datasets, including geology,
to bring back US astronauts Sunita Williams and geophysics, geochemistry, remote sensing, and
Butch Wilmore from the International Space Station borehole data, to identify concealed and deep-
(ISS), where they have been stranded for nine seated ore bodies.
months. The lift-off took place last night with a
Falcon 9 rocket carrying a Dragon spacecraft on the 233. (c) SpaceX is set to launch the first human
Crew-10 mission. The mission also launched four spaceflight directly over Earth's polar regions- a
crew members to the ISS: NASA astronauts Anne days-long, privately funded orbital mission involving
McClain and Nichole Ayers, JAXA (Japan Aerospace four astronauts. The crew will launch aboard a
Exploration Agency) astronaut Takuya Onishi, and SpaceX Crew Dragon capsule on a Falcon 9 rocket
Roscosmos wcosmonaut Kirill Peskov to the in a window that opens at 9:46 pm (0146 GMT)
International Space Station. from NASA's Kennedy Space Centre in Florida.
Named "Fram2"after the famed Norwegian ship built
231. (d) The Department of Telecommunications in the 19th century for Arctic and Antarctic
(DoT) has announced the 5G Innovation Hackathon expeditions, the mission will feature a range of
2025, a six-month initiative aimed at accelerating experiments including taking the first X-ray in space
the development of innovative 5G-powered and growing mushrooms in microgravity. SpaceX
solutions to address societal and industrial has carried out 5 private astronaut missions to
challenges. Open to students, startups, and date, 3 in collaboration with Axiom Space to the
professionals, the programme provides mentorship, ISS, and 2 free-flying in Earth orbit.
funding, and access to over 100 5G Use Case Labs,

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234. (c) An integrated Tri-Service Special Forces Charles de Gaulle, alongside their fighter aircraft,
exercise named Exercise Desert Hunt 2025 was destroyers, frigates, and an Indian Scorpene-class
conducted by the Indian Air Force at Air Force submarine, highlights the collaborative strength of
Station Jodhpur from 24 to 28 February 2025. The both Navies. VARUNA 2025 will feature advanced
exercise involved elite Para (Special Forces) from air defence drills and fighter exercises, including
the Indian Army, the Marine Commandos from the mock air-to-air combat between the French Rafale-
Indian Navy along with the Garud (Special Forces) M and Indian MiG-29K, designed to refine tactical
from the Indian Air Force. This high-intensity drill and operational capabilities. VARUNA 2025 stands
was aimed at enhancing interoperability, as a powerful reminder of the deep bonds uniting
coordination and synergy among the three Special the Indian and French Navies in their pursuit of
Forces units to ensure swift and effective response maritime peace and security.
towards emerging security challenges.
238. (b) In the early hours of 21 Mar 25, the Indian
235. (a) The Ministry of Defence has signed a Navy successfully carried out a critical Medical
contract with. Rosoboronexport (RoE), Russian Evacuation (MEDEVAC) operation from MV Heilan
Federation worth $ 248 million for procurement of Star, a Panama-flagged bulk carrier, located about
1000 HP Engines for T-72 Tanks in fully formed, 230 nautical miles West of Goa. On the night of
completely knocked down and semi knocked down 20/21 Mar 25, the Indian Coast Guard's Maritime
conditions. The deal also includes Transfer of Rescue Coordination Centre(MRCC) at Mumbai
Technology (ToT) from M/s RoE to M/s Armoured informed the Indian Navy of four crew members In
Vehicles Nigam Limited (Heavy Vehicle Factory), the early hours of 21 Mar 25, the Indian Navy
Avadi, Chennai, for integration and subsequent successfully carried out a critical Medical Evacuation
licensed production of engines under ToT to boost (MEDEVAC) operation from MV Heilan Star, a
the "Make in India' initiative in Defence Sector. T-72 Panama-flagged bulk carrier, located about 230
is the mainstay of tank fleet of the Indian Army nautical miles West of Goa. On the night of 20/21
which is at present fitted with 780 HP Engine. Mar 25, the Indian Coast Guard's Maritime Rescue
Equipping the existing fleet of T-72 Tanks with 1000 Coordination Centre(MRCC) at Mumbai informed the
HP Engine will enhance the battle field mobility and Indian Navy of four crew members members of MV
offensive capability of Indian Army. Heilan Star having sustained severe burn injuries
and requiring immediate advanced medical care.
236. (e) The India-Bangladesh Naval Exercise Responding swiftly, the Navy diverted two ships,
Bongosagar 2025 and Coordinated Patrol was INS Vikrant and Deepak, from their ongoing
conducted in Bay of Bengal this week. The exercise deployment to render aid. At first light on 21 Mar
saw participation of INS Ranvir from Indian Navy 25, a Seaking helicopter from Vikrant carried out a
and BNS Abu Ubaidah from Bangladesh Navy. The challenging winching operation, to evacuate three
exercise enhanced interoperability between the two injured crew - two Chinese and one Indonesian
navies, facilitating collaborative responses to shared nationals, from MV Heilan Star. The fourth crew
maritime security challenges. The exercise involved had, sadly, already succumbed to injuries. The
a range of complex operations encompassing rescued crew were immediately flown to INS Hansa,
surface firing, tactical manoeuvres, underway Goa, from where they transferred to a civil hospital
replenishment, Visit- Board-Search- Seizure (VBSS) for further medical care.This operation underscores
cross boarding, communication drills, quiz for Ops the Indian Navy's and the Indian Coast Guards
team and Junior officers on professional topics and unwavering commitment to life-saving efforts and
steam past. swift response to humanitarian assistance, despite
challenging circumstances, even beyond national
237. (d) The 23rd edition of the bilateral naval maritime boundaries.
exercise VARUNA, a testament to the enduring
maritime partnership between India and France, is 239. (c) Ministry of Defence has signed a contract
set to take place from 19 to 22 Mar 25. Since its with Armoured Vehicle Nigam Limited for the
inception in 2001, VARUNA has evolved into a procurement of Nag Missile System (NAMIS)
cornerstone of cooperation, showcasing the two Tracked version of anti-tank weapon platform and
nations' commitment to enhancing naval Force Motors Ltd & Mahindra & Mahindra Ltd for
interoperability and operational synergy. This year's around 5,000 Light Vehicles for the Armed Forces at
edition promises an exhilarating array of maritime a total cost of around Rs 2,500 crore. These
exercises and complex manoeuvres across the sub- contracts under Buy (Indian-Indigenously Designed
surface, surface, and air domains. The joint Developed and Manufactured) category were inked
participation of the aircraft carriers Vikrant and in the presence of Defence Secretary Shri Rajesh

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Kumar Singh in New Delhi on March 27, 2025. The refine tactics in complex air warfare scenarios, and
total cost of contract for the procurement of gain insights into operational best practices.
NAMIS(Tr) weapon system, developed by Defence
Research & Development Laboratory of DRDO, is Rs 243. (b) On the occasion of International Womens
1,801.34 crore. These modern vehicles are Day, a significant publication of the Legislative
designed as per contemporary vehicle technology Department, Ministry of Law & Justice, titled The
with enhanced engine power to cater to a payload Life and Contributions of the Women Members of
of 800 kgs. It will provide mobility to the Armed the Constituent Assembly is being formally
Forces in all types of terrain and operational released. This scholarly work serves as a
conditions. comprehensive tribute to fifteen distinguished
women who played an instrumental role in drafting
240. (a) The exercise has evolved into a symbol of the Constitution of India but whose contributions
maritime cooperation, showcasing the two nations' have largely remained unrecognized in mainstream
commitment to enhancing naval interoperability and historical and legal discourse. Key Features of the
operational synergy. The exercise is being Book- Historical Context. Profiles of Fifteen Eminent
conducted in two phases - Harbour phase from 28 Women. Constituent Assembly Debates.
to 30 Mar 25 at Chennai, and Sea phase from 31
Mar to 02 Apr 25 in Bay of Bengal. The exercise will 244. (b) John Green is best known for young adult
see participation of Russian Federation Naval Ships novels like The Fault in Our Stars, a best-selling
Pechanga, Rezkiy and Aldar Tsydenzhapov along tear-jerker about two teenage cancer patients.
with Indian Naval Ships Rana, Kuthar and Maritime Everything Is Tuberculosis is his second nonfiction
patrol aircraft P8l. These exercises and interactions book. Hes also a video blogger and, with his brother
are intended at enhancing maritime cooperation, Hank Green, has built a large and devoted following
strengthening bridges of friendship, exchanging of altruistic fans who call themselves Nerdfighters.
best operational practices and to bolster diplomatic.
245. (c) The Election Commission of India began a
241. (c) The Ministry of Defence (MoD) signed two two-day conference of CEOs of all States/UTs at
contracts with Hindustan Aeronautics Ltd (HAL) for IIIDEM, New Delhi. This is the first such conference
supplying 156 Prachand light combat helicopters to be held since Shri Gyanesh Kumar assumed
(LCHs), along with training and associated charge as CEC. CEC and ECs Dr. Sukhbir Singh
equipment, at a cost of Rs. 62,700 crore, excluding Sandhu and Dr. Vivek Joshi interacted with CEOs on
taxes. The first contract with the Bengaluru- a series of topics that will pave the way for
headquartered public-sector aerospace and defence improvements in election management. In his
company is for 66 LCHs for the Indian Air Force address, CEC Shri Gyanesh Kumar exhorted all
(IAF) and the second for 90 for the Indian Army. officials including all CEOs, DEOs, EROs, BLOs
The supply of these helicopters shall commence across the country to work transparently and fulfill
from the third year (2027-28) and will be spread all statutory obligations diligently and as per the
over the next five years. The contracts will enhance existing legal framework i.e. the RP Act 1950 &
the combat capability of the armed forces at high 1951; Registration of Elector Rules 1960, Conduct
altitudes, an MoD release said, adding that the LCH of Election Rules 1961 and, and the instructions
was Indias first indigenously designed and issued by ECI from time to time. Officials were
developed combat helicopter and was capable of directed to make efforts to have between 800-1200
operating at altitudes of more than 5,000 metres. electors in each polling booth and ensure that it is
within 2 kms distance from the residence of each
242. (c) The Indian Air Force (IAF) will be elector. For the first time one DEO and one ERO
participating in Exercise INIOCHOS-25, a from each State/UT are taking part in the
prestigious multi-national air exercise hosted by the conference.
Hellenic Air Force. The exercise will take place at
Andravida Air Base, Greece, from 31 March 2025 to 246. (b) Popular denim brand Levis recently
11 April 2025. The IAF contingent will include Su-30 announced its newest ambassador global icon Diljit
MKI fighters along with combat enabler IL-78 & C- Dosanjh. Known for rewriting the rules of music,
17 aircraft. The IAF looks forward to participating in cinema, and style, Diljit joins the Levis family as the
Exercise INIOCHOS 25, a platform to enhance first Punjabi artist as part of the brands ever-
international cooperation, synergy and growing community of creative talent. Drawing
interoperability among participating Air Forces. This inspiration from Diljit Dosanjhs unique ability to
exercise will provide an opportunity to train in connect across borders and genres, this
planning and executing Combined Air operations, collaboration highlights the Levis brands role as a

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canvas for self-expression. From his early hits in have been translated into English and several
Punjabi cinema to charting on the Billboard Social Indian languages. In recognition of his outstanding
50, Diljits story is all about bold choices, just like contribution to literature, Ramakanta Rath was
the blue jeans that have stood the test of time for conferred with the Padma Bhushan, Indias third-
over 170 years. highest civilian award, in 2006 and many other
coveted literary awards. He also served as president
247. (c) As per Census 2001, the literacy rate of the Sahitya Akademi of India from 1998 to 2003.
among Muslims aged 7 years and above was 59.1% The last rites of Ramakanta Rath will be carried out
while all-India literacy rate for the same age-group tomorrow at SwargaDwar of Puri.
was 64.8%. As per Census 2011, the literacy rate
among Muslims aged 7 years and above was 68.5% 251. (c) PhonePe launched its insuring HEROES
as compared to all-India literacy rate of 73.0%. campaign ahead of the International Womens Day.
Thus, the literacy rate among Muslims has International Womens Day is observed every year
increased by 9.4 percentage points in Census 2011 on March 8. As part of the initiative, the company is
as compared to Census 2001. As per Annual Report, offering exclusive discounts of up to 30 percent,
Periodic Labour Force Survey (PLFS), 2023-24, the specifically for women, on select term life and
literacy rate among Muslims was 79.5% for persons health insurance plans. It is available on the
aged 7years & above, while literacy rate for all PhonePe platform until March 9, 2025. Women can
religions for the same age group was 80.9%. avail these exclusive offers on the PhonePe app to
ensure their overall economic well-being and enjoy
248. (e) The Honble Prime Minister of New Zealand, long-term stability. Discounts include up to 15 per
Mr Christopher Luxon, along with RAdm Garin cent off on health insurance plans, and up to 30 per
Golding, Chief of Navy, Royal New Zealand Navy cent off on term life insurance plans. Through this
(CN-RNZN), visited the latest indigenously built initiative, PhonePe aims to assist women with
destroyer of the Indian Navy, INS Surat, at Naval greater financial security, facilitating their access to
Dockyard, Mumbai, on 20 Mar 25. INS Surat, the right insurance solutions tailored to their unique
commissioned on 15 Jan 25, is the latest indigenous needs. To avail these offers on the PhonePe app:
guided missile destroyer of the Indian Navy. Built users must first select the insuring HEROES banner
by Mazagon Dock Shipbuilders, Mumbai and within the insurance section of the PhonePe app.
designed by the Indian Navys Warship Design
Bureau, the ship is a shining example of 252. (a) SBI Life Insurance, one of India's most
Aatmanirbhar Bharat and boasts of an indigenous trusted private life insurers, launched two new child
content of over 75%. products, 'SBI Life - Smart Future Star' and 'SBI
Life - Smart Platina Young Achiever', specifically
249. (b) Veteran Biju Janata Dal (BJD) leader and curated to empower parents in securing child's
former Minister Ananta Das passed away in future aspiration. The increasing cost of education
Bhubaneshwar. He was 85. Das represented the coupled with evolving career aspiration and rising
Bhograi constituency of Balasore district in the lifestyle expenses can understandably be unsettling
Odisha Assembly by winning the seat for four times for parents today. Addressing parent's innate need
consecutively between 2004 and 2019 on a BJD to ensure a fulfilling life for their children regardless
ticket. Das also held several ministerial portfolios, of socio-economic challenges, SBI Life's child
including higher education and industries products offers parents the necessary tool to build a
departments, between 2017 and 2019. He was also comprehensive financial safeguard for their child.
the chief whip in the Odisha Assembly from 2014 to Launches 'SBI Life - Smart Future Star' and 'SBI
2017. Life - Smart Platina Young Achiever', specifically
curated to secure child's future aspirations by
250. (c) Padma Bhushan Ramakanta Rath, one of providing assured financial safeguards. Key features
the most renowned modernist poets in Odia of SBI Life's new child products: SBI Life - Smart
literature, passed away at Bhubaneswar at the age Future Star An Individual, Non-Linked, Participating,
of 91. His passing has cast a deep shadow of Life Insurance Savings Product Long-term corpus
mourning over the literary world, marking the end growth through bonuses In-built Waiver of Premium
of an era in Odia literature. A 1957-batch IAS benefit on death or Accidental Total Permanent
officer, Ramakanta Rath also served as the Chief Disability of the proposer, ensuring financial
Secretary of Odisha and held several key positions security Flexible maturity pay-out options to meet
in the Union Government. His poetic works, changing financial needs SBI Life - Smart Platina
celebrated for their depth and insight, include iconic Young Achiever An Individual, Non-Linked, Non-
poems Sri Radha among many others. His works Participating, Life Insurance Savings Product

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Guaranteed maturity benefit, offering financial receive a refund of the premium or a proportionate
security for child's education, career aspirations or premium for the unexpired policy period.
marriage Flexible maturity pay-out options to meet
changing financial needs In-built Waiver of Premium 254. (c) The Government of India and the
benefit on death or Accidental Total Permanent Government of Nepal signed a Memorandum of
Disability of the proposer, ensuring financial Understanding to enhance cooperation in Water,
security Risk-free savings approach, catering to Sanitation, and Hygiene (WASH) sector, including
parents who prefer guaranteed returns Both waste management. The signing ceremony took
products reflect SBI Life's commitment to providing place at Sushma Swaraj Bhawan, New Delhi, in
innovative financial solutions that align with the presence of C R Patil, Union Minister of Jal Shakti,
evolving needs of customers. India and Shri Pradeep Yadav, Minister of Water
Supply Nepal. The agreement aims to promote
253. (b) The Insurance Regulatory and collaboration between the two nations and
Development Authority of India (IRDAI) is setting strengthen intergovernmental cooperation in the
new standards for health insurance, mandating WASH sector, ensuring better access to clean
quicker and more efficient claim settlements to drinking water and sanitation for their populations.
benefit policyholders. Effective immediately, The comprehensive MoU outlines a collaborative
insurers must make decisions on cashless framework encompassing several key areas:-
authorization requests within one hour and finalize Capacity Building: Training programs for Nepali
discharge authorizations within, three hours of personnel in water resource management and
receiving the necessary requests from hospitals. related fields. Technology & Knowledge Transfer:
This directive aims to streamline the claims process, Sharing of technological expertise and best
ensuring policyholders arent delayed during medical practices between India and Nepal in WASH sector.
emergencies. Under these new rules, insurers are Groundwater Management: Joint efforts in
encouraged to achieve 100% cashless claim monitoring, assessment, and management of
settlements, reducing the need for reimbursements groundwater resources, including quality
to only exceptional circumstances. To facilitate this, improvement, artificial recharge, and rainwater
insurers under these new rules, insurers are harvesting. This MoU marks a new chapter in the
encouraged to achieve 100% cashless claim India-Nepal partnership, ensuring that both
settlements, reducing the need for reimbursements countries work together for the well-being of their
to only exceptional circumstances. To facilitate this, people and for a sustainable future.
insurers should establish dedicated help desks at
hospitals to assist with cashless requests. They are 255. (c) The inaugural Australia-India Sports
also required to provide pre-authorization to Excellence Forum, a landmark initiative jointly
policyholders through digital channels. The IRDAI spearheaded by the Australian and Gujarat
has set a deadline of July 31, 2024, for insurers to Governments, commenced on a strong note at GIFT
implement the necessary systems and procedures City, Gandhinagar, Gujarat. As a participant and
to fully comply with these new mandates. To ensure key stakeholder, Deakin University, Australia, which
fair claim settlements, the IRDAI has mandated that has a campus in GIFT City, Gandhinagar, welcomes
no claim should be rejected without approval from the two-day high-level discussion forum, that aims
the Policyholders Management Committee (PMC) or to advance strategic collaboration in elite sport
a three-member sub-group known as the Claims between the two nations, bringing together key
Review Committee (CRC). If a claim is denied or Australian and Indian decision-makers, premier
partially disallowed, the claimant must receive a sporting institutions, leading higher education
detailed written explanation referencing the specific providers, and industry leaders together for the
policy terms and conditions. Insurers and Third- future of bilateral sport cooperation. A key highlight
Party Administrators (TPAs) are now responsible for of the forum is the role of higher education
collecting required documents from hospitals, institutions in driving sports excellence. Deakin
relieving policyholders of this burden. IRDAIs University, a global leader in sports science and
master circular also addresses scenarios where education, will contribute to discussions on the
policyholders have multiple health insurance impact of research-intensive universities in shaping
policies, allowing them to choose under which policy elite sports performance. About Deakin University
they wish to claim. The primary insurer is then Founded in 1974, Deakin University is ranked
responsible for coordinating with other insurers to among the top 200 universities worldwide,
settle any remaining balance. In cases of policy delivering exceptional outcomes in teaching,
cancellation during the term, policyholders may also research, and industry collaboration. Operating in
South Asia since 1994 with offices at New Delhi,

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Deakin partners with government, industry, and Farmers Welfares and Mr. Gabriel Layseca, Director
academia to advance education and research, of the Department of International Affairs, Bureau
fostering global impact. of Agricultural Studies and Policies (ODEPA). Both
countries, with their rich experience in agriculture,
256. (d) Leading fintech company Razorpay have the potential to complement each other in
officially entered the Singapore market, marking its boosting agricultural productivity, promoting rural
second expansion in Southeast Asia after its development, and improving farmers' welfare.
successful operations in Malaysia. With this move,
Razorpay aims to enhance digital payment 259. (a) India and New Zealand have agreed for
infrastructure and streamline cross-border talks to boost cooperation in digital payments and
transactions for businesses in Singapore, enabling greater two-way trade and investment during the
seamless, secure, and cost-effective financial ongoing visit of New Zealand Prime Minister
operation. Currently, businesses in Singapore face Christopher Luxon. India's merchandise exports to
high transaction fees of 4-6% for cross-border New Zealand stood at $535 million in 2023-24,
payments, limiting scalability and efficiency. Small while imports stood at $335.07 million, representing
and medium enterprises (SMEs) also struggle with a total trade value of $873 million. The Prime
fragmented payment systems that drive up costs Ministers welcomed sustained trade and investment
and delay settlements. Razorpay aims to tackle flows between India and New Zealand. The country
these challenges by offering AI-powered financial is only the 59th largest source of historical foreign
solutions, including: AI-Driven Payment Gateway: direct investment into India, accounting for $87.2
Enabling businesses to conduct seamless, secure million of inward investments since 2000. Both
transactions with lower fees. Curlec by Razorpay: leaders also welcomed the signing of the Authorised
Strengthening its regional presence with a 30% Economic Operators Mutual Recognition
month-on-month growth trajectory. Intelligent Arrangement under the aegis of the Customs
Automation: Leveraging AI-driven features like Cooperation Arrangement signed in 2024, which
Agentic-AI and RAY to enhance operational would facilitate easier movement of goods between
efficiency and customer experience. Real-Time the two countries. After updating the bilateral air
Analytics: Providing businesses with insights to services agreement, both sides have also agreed to
optimize financial strategies and improve cash flow encourage their carriers to commence direct (non-
management. Southeast Asias digital payments stop) flight operations between the two countries.
sector is witnessing unprecedented growth, with The two nations have signed multiple
transaction volumes projected to surpass $2 trillion memorandums of understanding. These include
by 2030. cooperation in horticulture and forestry, which will
promote knowledge and research exchanges,
257. (c) Prime Minister Shri Narendra Modi development of post-harvest and marketing
attended the 57th National Day celebrations of the infrastructure, and technical exchanges. The
Republic of Mauritius as the Chief Guest. During the countries are also working on an agreement on
celebrations, President of the Republic of Mauritius earthquake mitigation cooperation between relevant
H.E. Mr. Dharambeer Gokhool conferred the Grand authorities.
Commander of the Order of the Star and Key of the
Indian Ocean (G.C.S.K) award, the highest civilian 260. (e) Reserve Bank and the Bank of Mauritius
award of Mauritius, on PM Modi. This is the first (BOM) have signed a pact for establishing a
time that an Indian leader is receiving this honour. framework to promote the use of the Indian Rupee
Prime Minister Modi dedicated this award to the and the Mauritian Rupee (MUR) for cross-border
special friendship between India and Mauritius and transactions. The Memorandum of Understanding
to the 1.4 billion people of India and their 1.3 (MoU) was signed by RBI Governor Sanjay Malhotra
million brothers and sisters in Mauritius. During the and BOM Governor Rama Krishna Sithanen G C S K,
National Day celebrations, an Indian Navy marching the central bank said. The RBI said the MoU aims to
contingent participated in the parade. An Indian promote the use of INR and MUR in bilateral trade.
Naval Ship also made a Port Call to coincide with The MoU covers all current account transactions and
the National Day celebrations. permissible capital account transactions as agreed
upon by both the countries. The framework would
258. (d) The 1st Joint Working Group (JWG) enable exporters and importers to invoice and pay
meeting on Agriculture was held between India and in their respective domestic currencies, which in
Chile on 12th March 2025 in virtualmode. The turn, would enable the development of a market in
meeting was co-chaired by Mr. Ajeet Kumar Sahu, the INR-MUR pair. Use of local currencies would
Joint Secretary (IC), Department of Agriculture & optimise costs and settlement time for transactions.

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Use of local currencies in bilateral transactions will and Processed Food Products Export Development
eventually contribute to promoting trade between Authority (APEDA), in collaboration with the
India and Mauritius as well as deepen financial Department of Horticulture, Government of
integration and strengthen the historical, cultural, Mizoram, successfully facilitated the flagging off of
and, economic relations between India and the first consignment of Anthurium flowers from
Mauritius. "This collaboration marks a key milestone Aizawl, Mizoram, to Singapore. The event, held in a
in strengthening bilateral cooperation between RBI hybrid (phygital) format, took place on February 26,
and BOM," RBI said. "The MoU documents were 2025. The consignment, comprising 1,024
exchanged in Port Louis, Mauritius in the presence Anthurium cut flowers (weighing 70 kg) packed in
of the Prime Minister of India Narendra Modi and 50 corrugated boxes, was exported by IVC Agrovet
Prime Minister of Mauritius Navinchandra Pvt. Ltd. from Aizawl, Mizoram, to Singapore via
Ramgoolam." Kolkata. The flowers were sourced from the Zo
Anthurium Growers Cooperative Society, Aizawl,
261. (b) India and Australia agreed to further Mizoram, and imported by Veg Pro Singapore Pte.
deepen cooperation and interoperability across Ltd., marking a milestone in regions floriculture
maritime, land and air domains, including working export journey. Anthurium is one of the most
with multilateral partners. Besides, the two important flowers cultivated in Mizoram, playing a
countries also decided to focus on cooperation in vital role in driving local economic activity,
maritime domain awareness, reciprocal information particularly benefiting farmers, including women.
sharing, industry and science and technology The flowers cultivation has been a source of
collaboration aside from, exchanges including livelihood and empowerment for local communities.
deployments from each others territories. This was Mizoram also organizes the annual Anthurium
agreed in the 9th India-Australia defence policy Festival, which promotes tourism and highlights the
talks held in New Delhi. The Indian delegation was flowers beauty and ornamental value. The first-ever
headed by Joint Secretary Amitabh Prasad, while export of Anthurium flowers from Mizoram to
the Australian side was led by First Assistant Singapore follows the success of the International
Secretary International Policy Division, Department Conclave cum Buyer-Seller Meet (IBSM) organized
of Defence, Australia, Bernard Philip. The previous by APEDA in collaboration with the Government of
edition of the talks was held in 2023. Mizoram on December 6, 2024, in Aizawl. The IBSM
witnessed participation from nine international
262. (e) In a significant boost to Indias agricultural buyers from countries such as Singapore, UAE,
exports, a consignment of 30 metric tons (MT) of Nepal, Jordan, Oman, Azerbaijan, Russia, and
GI-tagged jaggery from Muzaffarnagar, a region Ethiopia, along with 24 domestic exporters.
renowned for its high-quality sugarcane, was
flagged off for export to Bangladesh. The flag-off 264. (e) Singapore and India have signed a Letter
ceremony, organized by the Basmati Export of Intent (LOI) to cooperate on maritime
Development Foundation (BEDF) under the aegis of digitalisation and decarbonisation. The LOl was
APEDA, took place on January 30, 2025. This inked by Mr Teo Eng Dih, Chief Executive of the
initiative marks the beginning of direct exports of Maritime and Port Authority of Singapore and Shri
jaggery from western Uttar Pradesh to Bangladesh R. Lakshmanan, Joint Secretary of the Ministry of
through Farmer Producer Organizations (FPOs) and Ports. Shipping and Waterways ( (MOPSW) of India.
Farmer Producer Companies (FPCs). Speaking on Under the LOl, both sides will collaborate on
the occasion, MLA, Shamli, Shri Prasanna maritime digitalisation and decarbonisation projects,
Chaudhary highlighted the superior quality of including identifying relevant stakeholders who
jaggery produced in Muzaffarnagar and Shamli, could contribute to the effort, and work towards
which is in high demand in international markets. formalising the partnership through a memorandum
He thanked APEDA for its constant support in of understanding on a Singapore-India Green and
facilitating the export and emphasized the Digital Shipping Corridor (GDSC).
importance of State Government support in
maintaining quality standards for global 265. (a) India and Japan have signed loan
competitiveness. The Brijnandan Agro Farmer agreements worth 191.736 billion Japanese yen for
Producer Company (FPC), formed in 2023, has 545 six projects under Japan's Official Development
members, including two women directors. Assistance (ODA) to India. In a statement, the
finance ministry said that India and Japan signed
263. (e) In a significant step towards enhancing loan agreements worth 191.736 billion Japanese
Indias floriculture export potential, particularly from yen for six projects in forest management, water
the North Eastern Region (NER), the Agricultural supply, urban transport, aquaculture. The six loan

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agreements include one for the Tamil Nadu Force and NDRF. Indian Navy ships Satpura and
Investment Promotion Program (Phase 3) (TNIPP- Savitri, from the Eastern Naval Command, have
III) (JPY 36.114 billion). Also, one for Delhi Mass sailed for Yangon on 29 Mar, as part of the Indian
Rapid Transport System Project (Phase 4 Additional Navy's immediate response towards Humanitarian
Corridors) (I)" (JPY 79.726 billion). Another Project Assistance and Disaster Relief (HADR). In addition,
is for the Construction of Chennai Seawater Indian Navy Ships Karmuk and LCU 52 from the
Desalination Plant (II)" (JPY 52.556 billion). Andaman and Nicobar Command will also be sailing
for Yangon on 30 Mar 25, to assist in the HADR
266. (a) Dr. Arvind Virmani, Hon'ble Member of operation
NITI Aayog, released the second edition of the
"Trade Watch Quarterly" publication for the Quarter 268. (b) The Ministry of Jal Shakti, in collaboration
II of the financial year 2025 (July to September) on with the Ministry of Environment, Forest & Climate
March 28, 2025, in New Delhi. In addition to Change and the Government of Haryana, is set to
offering a comprehensive analysis of Indias trade launch the much-anticipated Jal Shakti Abhiyan:
position for the quarter, this edition examines the Catch the Rain - 2025 on 22nd March 2025, World
textile sector, a key contributor to economic growth water day. The event, which will take place at the
through export promotion, job creation, women's Multipurpose Hall, Tau Devi Lal Stadium, Panchkula,
empowerment, and the representation of India's Haryana, aims to emphasize water conservation and
rich heritage and culture. During Q2 FY25, Indias management through community participation and
trade performance remains continual, with total innovative strategies.aims to emphasize water
trade growing steadily at 5.67% in AprilSeptember conservation and management through community
2024 compared to the same period in 2023. On the participation and innovative strategies. The
imports side, copper has entered the top ten campaign, themed : , (Peoples' Action for Water
sectors, driven by a robust 28% year-on-year Conservation - Towards Intensified Community
increase in imports due to rising infrastructure Connect ) underscores the importance of water
demand. The composition of exports has remained security, rainwater harvesting, and groundwater
largely stable compared to the previous quarter, recharge in the face of climate change and growing
with a year-on-year increase in the export growth water challenges. The initiative will focus on 148
of electrical machinery and nuclear reactors, while districts across the country, fostering greater
mineral fuels and iron & steel saw a year-on-year synergy between government agencies,
decline in Q2 FY25. Regionally, North America and communities, and stakeholders in ensuring the
the EU continue to dominate Indias exports, sustainable management of water resources. Key
accounting for approximately 40%, while Northeast Highlights of the Event: Inauguration of a Painting
Asia and West Asia remain key import sources. This and Sculpture Exhibition showcasing artistic
edition of Trade Watch Quarterly also assesses expressions on water conservation. Launch of the
Indias textile sector, a sector that continues to Jal-Jangal-Jan: Ek Prakritik Bandhan Abhiyan,
contribute significantly to industrial output, (Water-Forest-People: The Intrinsic Bond
employment, and export earnings. India is one of campaign), strengthening the ecological link
the top 10 worlds exporters and of a modest India between rivers, springs, and forests. E-launch of
holds 4% share in global trade. India remains the Mukhyamantri Jal Sanchay Yojana and the
competitive in natural fibre-based textiles, Water Resources Atlas for Haryana, aiding scientific
particularly cotton and carpets, accounting for water resource management. Awards Ceremony to
nearly 70% of its textile exports. While the nation honor progressive farmers, women, Water User
has historically excelled in natural fibre-based Associations (WUAs), industries, and NGOs for their
textiles, the global market is shifting towards man- outstanding contributions to water conservation.
made and technical textiles and this shift presents Unveiling of innovative water management projects,
an opportunity for India to diversify its exports, including Community Sanitary Complexes, Liquid
enhance value addition, and strengthen supply Waste Management Systems, the Gobardhan
chain integration. Project, and a Solid Waste Management Shed in
Haryana.
267. (d) In the aftermath of the devastating
earthquake in Myanmar and Thailand on 28 Mar 25, 269. (e) Union Minister for Electronics &
the Government of India has launched Operation Information Technology, Railways, and Information
Brahma for rendering assistance to Myanmar. Under & Broadcasting, Shri Ashwini Vaishnaw marked a
MEA's direction, the HADR efforts are being major milestone in Indias AI journey with the
progressed in conjunction with Headquarters launch of several key initiatives under the IndiaAI
Integrated Defence Staff, Indian Army, Indian Air Mission during its anniversary celebration in New

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 www.oliveboard.in

Delhi. The newly introduced initiatives include live. AI Competency Framework for Public Sector
AIKosha: IndiaAI Datasets Platform, the AI Officials Recognizing the critical role of AI in
Compute Portal, the AI Competency Framework for governance the AI Competency Framework was
Public Sector Officials, iGOT-AI Mission Karmayogi, released at the event. The competency framework
the IndiaAI Startups Global Acceleration Program aims to equip public sector officials with skills
with Station F, the IndiaAI Application Development related to AI competency mapping, and upskilling
Initiative and IndiaAI FutureSkills all aimed at initiatives. This framework aligns with global best
strengthening AI-driven research, innovation, and practices to ensure informed AI policy-making and
skill development. The IndiaAI Mission, approved in implementation. iGOT-AI: AI-Powered Personalized
March 2024, is a landmark initiative dedicated to Learning for Government Officials An advanced AI-
fortifying Indias AI ecosystem through strategic powered personalized content recommendation
programs and partnerships spanning both public system, developed to enhance the learning
and private sectors. With a vision to democratize AI experience for government officials on the iGOT
access, enhance data quality, cultivate indigenous Karmayogi platform. IndiaAI Startups Global
AI capabilities, and ensure ethical AI practices, Acceleration Program with Station F In collaboration
IndiaAI Compute IndiaAI Datasets Platform IndiaAI with STATION F and HEC Paris, the IndiaAI Mission
Application Development Initiatives IndiaAI will launch an acceleration program for Indian AI
FutureSkills IndiaAI Innovation Center IndiaAI startups. This four-month immersive program (1
Startup Financing Safe & Trusted AI Launch of month online, 3 months onsite at STATION F in
AIKosha: IndiaAI Datasets Platform To provide a Paris) at the worlds largest startup campus will
unified portal for seamless access to datasets, tools provide 10 selected AI startups with access to
and AI models, Honble Union Minister has launched mentorship, networking, and global market
AIKosha: IndiaAI Datasets Platform. AIKosha is a expansion opportunities in Europe. A call for
secured platform that provides a repository of applications has been announced at the event.
datasets, models and use cases to enable AI IndiaAI Innovation Challenge: Felicitation of AI
innovation. It also features AI sandbox capabilities Innovators The IndiaAI Application Development
through an integrated development environment Initiative (IADI) pillar under the IndiaAI Mission
along with tools and tutorials. The platform is focuses on developing, scaling, and promoting the
equipped with the features like content adoption of impactful AI solutions with the potential
discoverability, AI readiness scoring of datasets, for large-scale socio-economic transformation.
permission based access & security mechanisms like Under this pillar IndiaAI has launched the IndiaAI
data encryption at rest and in motion, secure API, innovation challenge which seeks to promote
and firewalls for real-time filtering of malicious impactful AI solutions in critical sectors, over 900 AI
traffic. Launch of IndiaAI Compute Portal IndiaAI solutions were submitted to address pressing
had published a Request for Empanelment (RFE) challenges in Healthcare, Climate Change & Disaster
inviting applications for the empanelment of AI Management, Governance, Agriculture, and
services on the cloud. A competitive bidding process Learning Disabilities. These solutions aim to
saw the participation of 19 bidders, offering diverse improve healthcare outcomes, enhance access to
AI services, including GPUs and AI platforms. public services, boost agricultural productivity,
Following a rigorous technical evaluation, 10 bidders support individuals with learning disabilities, and
were shortlisted for the commercial bid opening. To mitigate the impacts of climate change. Following a
ensure equitable access to computational resources, rigorous evaluation process, 30 AI solutions have
Honble Union Minister has launched the IndiaAI been shortlisted for the next stage across three
Compute Portal that will offer AI compute, network, stages of maturity: Idea, Prototype, and Existing
storage, platform and cloud services at discounted Solutions. IndiaAI FutureSkills Fellowship:
rates to startups, MSMEs, academia, researchers, Introducing the IndiaAI Fellowship Student The
PhD scholars, students, startups and government IndiaAI FutureSkills initiative is conceptualized to
agencies. The portal will facilitate easy access to mitigate barriers to entry into AI programs and will
high end and mid range GPUs such as NVIDIA increase AI courses in undergraduate, masters-
H100, H200, A100, L40S, and L4, AMD MI300x and level, and Ph.D. programs. IndiaAI Fellowship
325X, Intel Gaudi 2, AWS Tranium and Inferentia students were introduced who demonstrated their
along with network and storage services, ensuring skills in AI Projects and shared their experiences
cost-effective AI development capabilities and how IndiaAI Fellowship has supported them in AI
innovation. Eligible AI users will receive up to 40% research. IndiaAI is disbursing tranches of the
subsidy on AI compute services on cloud. RFE for IndiaAI Fellowship, UG students PG students from
Inviting Applications for Continuous Empanelment various centrally funded institutes, including IITs,
of Agencies for providing AI services on Cloud is

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NITs, IIITs, as well as other government and assistance of 6,000. In the round I of the pilot
private academic institutes. project (October December 2024), over 1.27 lakh
opportunities in about 745 districts were posted by
270. (c) The Minister of Finance and Corporate around 280 companies across 25 sectors. The round
Affairs, Smt. Nirmala Sitharaman, in the presence II of the Pilot Project commenced in January 2025
of MoS Corporate Affairs, and MoS Road and and about 327 companies have posted more than
Transport Shri Harsh Malhotra launched a dedicated 1.18 lakh opportunities (both new and edited
mobile app for the Prime Minister's Internship unfilled opportunities of the previous round) across
Scheme on 17th March 2025. The App has the the country.
following features: Intuitive interface with a clean
design and effortless navigation. Easy registration 271. (d) In February 2025, the Competition
through Aadhaar face authentication Effortless Commission of India (CCI) released draft
navigation - Eligible candidates can sift through regulations titled The Competition Commission of
opportunities by location etc. Personalized India (Determination of Cost of Production)
dashboard Access to a dedicated support team Real Regulations, 2025. These draft regulations seek to
time alerts to keep candidates abreast of new replace the earlier 2009 regulations on the subject.
updates. Smt. Nirmala Sitharaman commended the The proposed regulations aim to modernise the
Prime Minister's vision in introducing a package of framework for assessing predatory pricing under
five schemes to promote employment, skilling, and the Competition Act, 2002, aligning it with
opportunities. She emphasized that the PM contemporary economic theories in other
Internship Scheme has the potential to bridge the jurisdictions and global best practices. The draft
gap between classroom learning and industry regulations invite public consultations from
expectations, thereby enhancing youth stakeholders until March 19, 2025, via the CCI
employability. She further urged the industry to portal. Predatory pricing is an anti-competitive
actively participate in the scheme, highlighting that practice under Section 4(2)(a)(ii) of the Competition
their involvement would contribute to nation- Act, defined as selling goods or services below cost
building while fostering a skilled workforce in the by a dominant firm with the intent to eliminate
country. With the PMIS application, the users can competitors. For a pricing strategy to be classified
also explore the referral program recently as predatory, all three conditions must be met: (i)
announced by Ministry of Corporate Affair (MCA). Dominant market position (defined under the Act,
The referral program would enable the registered under Section 4 explanation (a), with the ability to
youth to refer other eligible candidates for the control prices and restrict competition). (ii) Pricing
scheme and win rewards. The registered youth on below cost (as defined under the new draft
the PM Internship portal (web browser) can also regulations). (iii) Intent to eliminate competition
participate in this referral program. The Prime (creating a monopoly after eliminating competitors,
Ministers Internship Scheme (PMIS Scheme) rather than simply engaging in competitive pricing).
announced in the Budget 2024-25, aims to provide The most significant change in the new draft
internship opportunities to one crore youth in top regulations is the removal of market value, which
500 companies in five years. As an initiation to this previously caused ambiguity, and the addition of
Scheme, the Pilot Project targeted at providing 1.25 average total cost (ATC). Average variable cost
lakh internship opportunities to the youth was means total variable cost divided by total output
launched on 03.10.2024 for the Financial Year during the referred period. In specific cases, the
2024-25. Salient features of the Scheme are: 12- CCI may consider other cost assessment measures
month paid internships in top companies of India. as outlined in the new regulations, such as average
This scheme provides an opportunity to the youth to total cost, average avoidable cost, or long-run
get training, and gain experience and skills within average incremental cost, depending on the
the real-life environment (at least six months) of industry, market conditions, and technology
the businesses or organizations that help in bridging involved. The CCI or the director general may seek
the gap between academic learning and industry assistance from experts to determine cost figures.
requirements, in turn, assisting enhancement of Enterprises disputing the cost determination can
her/his employability. The scheme targets request an independent expert review at their own
individuals aged 21 to 24 who are currently not expense, ensuring a fair and transparent process.
enrolled in any full-time academic program or not in
full-time employment, offering them a unique 272. (b) The Competition Commission of India has
chance to kick-start their careers. Each intern will approved the proposed acquisition of certain
be supported with monthly financial assistance of shareholding of Schott Poonawalla Private Limited
5,000, supplemented by one-time financial by TPG Scion SG Pte. Ltd. The proposed

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combination involves the acquisition by TPG Scion marketing and shipping of oil products and
SG Pte. Ltd. of certain shareholding in SPPL by way chemicals, as well as renewable energy products.
of a secondary purchase from Serum Institute of The Competition Commission of India has approved
India Private Limited. (Proposed Combination). The the proposed acquisition of 100% shareholding in
TPG Scion SG Pte. Ltd. (TPG Scion/Acquirer), is a KSK Mahanadi Power Company Limited by JSW
newly incorporated special purpose investment Energy Limited. JSW Energy Limited (JSWEL) is a
vehicle incorporated in Singapore on 11th October public listed company having established its
2024 for the purposes of the Proposed Combination. presence across the value chains of the power
Currently it does not have any operations in India. sector with diversified assets in power generation,
TPG Scion is an affiliate of the TPG Group, which is transmission and trading with strong operations,
a global, diversified investment firm founded in robust corporate governance and prudential capital
1992. allocation. Presently, JSWEL (through its
subsidiaries) is engaged in power generation, power
273. (e) The Competition Commission of India has transmission, power trading, coal mining, and
approved the acquisition of equity shares of PSP power equipment manufacturing. JSW Thermal
Projects Limited by Adani Infra (India) Limited. The Energy One Limited (JSW Thermal) is a newly
proposed transaction involves the acquisition by formed wholly owned subsidiary of JSWEL,
Adani Infra (India) Limited (Acquirer) of equity incorporated in October 2024 for the purposes of
shares of PSP Projects Limited (Target) from: (i) Mr. facilitating the Proposed Transaction. JSW Thermal
Prahaladbhai S. Patel (Seller) (Initial Acquisition); currently does not have any business activities of its
and (ii) public shareholders by way of an open offer own. KSK Mahanadi Power Company Limited
(Open Offer), such that, post-closing of the Initial (KMPCL) was incorporated in 2009.
Acquisition and Open Offer, the Acquirer (on the
one hand) and the Seller and other existing 276. (a) The Competition Commission of India has
promoters (on the other hand) would hold equal approved acquisition of Uprising Science Private
shareholding. Limited by Hindustan Unilever Limited. The
proposed transaction involves the acquisition by
274. (b) The Competition Commission of India has Hindustan Unilever Limited (Acquirer/HUL), of
approved the proposed acquisition of up to 72.8% 90.5% shareholding of Uprising Science Private
shareholding of Orient Cement Limited by Ambuja Limited (Target), with eventual acquisition of the
Cements Limited. Ambuja Cements Limited remaining 9.5% shareholding of the Target in about
(Acquirer) is engaged in the manufacture and sale two years from the completion date as per the
of grey cement, including Ordinary Portland Cement terms set out in the Share Purchase & Subscription
(OPC), Pozzolona Portland Cement (PPC), and Agreement executed by and between HUL and the
Pozzolona Composite Cement (PCC). The Acquirer Target. The Acquirer is involved in the business of
(including its subsidiaries) operates 22 integrated manufacture and sale of: (a) home care products;
cement plants across India, as well as 10 bulk (b) beauty & personal care products; (c) food
cement terminals and 21 grinding units. Orient products and refreshments. The Acquirer has over
Cement Limited (Target) is involved in the business 50 brands spanning distinct categories and includes
of manufacturing grey cement, including PPC and Lux, Surf Excel, Fair & Lovely, Lakme, Knorr,
OPC. It has three manufacturing facilities at Kwality Walls, Brooke Bond, BRU among others.
Devapur (Telangana), Chittapur (Karnataka) and The Target is engaged in the manufacture and sale
Jalgaon (Maharashtra). of beauty and personal care products such as skin
care & body care products, baby care products and
275. (c) The Competition Commission of India has hair care products.
approved the proposed acquisition of 100% equity
share capital of Raj Petro Specialities Private 277. (c) The Competition Commission of India has
Limited by Shell Deutschland GmbH and Shell approved the proposed acquisition of 100%
Overseas Investments B.V. The proposed shareholding of O2 Power Midco Holdings Pte. Ltd.
combination envisages acquisition of 100% equity and O2 Energy SG Pte. Ltd. by JSW Neo Energy
share capital of Raj Petro Specialities Private Limited. The Proposed Combination involves the
Limited (Raj Petro Specialities) by Shell Deutschland acquisition by JSW Neo Energy Limited of 100%
GmbH and Shell Overseas Investments B.V. Shell shareholding of O2 Power Midco Holdings Pte. Ltd.
Plc is the ultimate parent company of the Shell (O2 Midco) and O2 Energy SG Pte. Ltd. (O2
Group of companies. Shell Group is a global group Energy). JSW Neo Energy Limited (JSW
of energy and petrochemical companies, active in Neo/Acquirer), is a wholly owned subsidiary of JSW
oil and gas exploration, production, manufacturing, Energy Limited (JEL) (a listed entity) which belongs

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to the JSW Group. JEL (through its subsidiaries) is weapon system. As a part of celebrating 2025 as
inter alia engaged in power generation and Year of Reforms in the Ministry of Defence, DAC
transmission through conventional and also approved the guidelines for reducing the
nonconventional sources. timelines at various stages of the Capital Acquisition
Process to make it faster, more effective and
278. (c) German insurer Allianz SE has announced efficient.
the sale of its 26% stake in two joint ventures with
India's Bajaj Finserv for approximately 2.6 billion 280. (b) Fair trade regulator CCI cleared Tata Sons'
($2.84 billion). The agreement will see Bajaj Group proposed acquisition of an additional 10 per cent
gain complete ownership of Bajaj Allianz General stake in DTH operator Tata Play from Singapore's
Insurance Company (BAGIC) and Bajaj Allianz Life sovereign wealth fund Temasek Holdings. Currently,
Insurance Company (BALIC), marking the end of a Tata Sons -- the promoter of Tata Group -- owns a
24-year-old partnership. The deal was confirmed 60 percent stake in Tata Play. Tata Sons is an
through Share Purchase Agreements (SPAs) signed investment holding company, which is registered as
between the two companies, ensuring a smooth a core investment company with the Reserve Bank
transition of ownership. The acquisition is subject to of India and classified as a "Systemically Important
regulatory approvals from the Competition Non-Deposit Taking Core Investment Company".
Commission of India and the Insurance Regulatory "Commission approves the acquisition of certain
and Development Authority of India (IRDAI). Once additional shareholding in Tata Play Ltd by Tata
the transaction is completed, Bajaj Group will Sons Pvt Ltd from Baytree Investments (Mauritius)
increase its ownership in BAGIC and BALIC from Pte Ltd,".
74% to 100%. The deal will be executed in
tranches, with at least 6.1% being acquired in the 281. (c) Bain Capital, a leading global private
first phase, which will also see Allianz reclassified investment firm, has announced its acquisition of
from "Promoter" to "Investor." The agreed purchase joint control in Manappuram Finance, one of Indias
price for Allianzs stake is Rs. 13,780 crore for foremost non-banking financial companies (NBFCs)
BAGIC and Rs. 10,400 crore for BALIC. The and the second-largest gold financier in the country.
transaction also includes the acquisition of Allianzs The firm will invest Rs. 4,385 crore (approximately
stake in Bajaj Allianz Financial Distributors Ltd. $508 million) to acquire an 18% stake in the
(BAFDL), a 50:50 joint venture, for a consideration company through its affiliates, BC Asia Investments
of up to Rs. 12.5 crore. Post-acquisition, Bajaj XXV Limited and BC Asia Investments XIV Limited.
Finserv will hold full ownership of BAFDL. This strategic move is expected to enhance
Manappuram Finances operational excellence and
279. (e) Under the chairmanship of Raksha Mantri expand its market presence. The investment will be
Shri Rajnath Singh, the Defence Acquisition Council executed via a preferential allotment of equity and
(DAC), on March 20, 2025, accorded Acceptance of warrants priced at Rs. 236 per share, which
Necessity (AoNs) to eight capital acquisition represents a 30% premium over the six-month
proposals amounting to over Rs 54,000 crore. For average trading price. As part of the agreement,
the Indian Army, AoN for procurement of 1350 HP Bain Capital will trigger a mandatory open offer for
Engine was accorded to upgrade the present 1000 an additional 26% stake in Manappuram Finance.
HP Engine for the T-90 Tanks. This will enhance the Depending on the subscription to this open offer,
battlefield mobility of these tanks especially in high- Bains total stake could increase to between 18%
altitude area by increasing the power to weight and 41.7%. Founded in 1949, Manappuram Finance
ratio. For the Indian Navy, AoN for procurement of has established itself as a trusted financial
Varunastra Torpedoes (Combat) was accorded by institution with a customer base exceeding 6.59
DAC. Varunastra Torpedo is an indigenously- million.
developed ship-launched anti-submarine torpedo
developed by Naval Science & Technological 282. (b) The Competition Commission of India has
Laboratory. Induction of additional quantities of this approved acquisition of Athaang Devanahalli
torpedo would enhance the Navy's capability Tollway Private Limited, Athaang Jammu Udhampur
against adversaries' submarine threats. For the Highway Private Limited and Quazigund Expressway
Indian Air Force, AoN for procurement of Airborne Private Limited by Cube Highways Trust and Cube
Early Warning & Control (AEW&C) Aircraft Systems Highways and Infrastructure V Pte. Ltd. The
was accorded by DAC. AEW&C systems are Proposed Combination envisages: acquisition of
capability enhancers which can change the 100% shareholding of Athaang Devanahalli Tollway
complete spectrum of warfare and, exponentially Private Limited (ADTPL) by Cube Highways and
increase the combat potential of every other Infrastructure V Pte. Ltd. (Cube V); and acquisition

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of 100% shareholding of (i) Athaang Jammu acquiring an additional 5.67% stake for Rs. 4.59
Udhampur Highway Private Limited (AJUHPL), and crore, with the mode of acquisition, cash or share
(ii) Quazigund Expressway Private Limited (QEPL) swap, to be decided later. The deal values EffiaSoft
by Cube Highways Trust (Cube Trust). Hereinafter at an enterprise valuation of approximately Rs. 81
ADTPL, AJUHPL and QEPL are collectively referred to crore. This acquisition comes shortly after Zaggle
as the Targets) The Cube Trust is an infrastructure completed its investment in Mobileware
investment trust registered with the Securities and Technologies, acquiring a 38.34% stake for nearly
Exchange Board of India (SEBI) under the SEBI Rs. 23 crore.
(Infrastructure Investment Trusts) Regulations,
2014 (as amended). 286. (c) The amalgamation of Aditya Birla Finance
Ltd (ABFL) with its parent Aditya Birla Capital Ltd
283. (c) The Competition Commission of India has (ABCL) with effect from April 1, 2025, will lead to
approved the proposed combination involving, inter rationalisation and simplification of group structure,
alia, Maple Infrastructure Trust (MIT); CDPQ improved financial stability, and increased
Infrastructures Asia III Inc. (CDPQ Asia); Maple operational efficiency, according to ABCL. As of
Highways Pte. Ltd.; 360 ONE Private Equity Fund December-end 2024, ABCLs aggregate assets under
and certain road assets of the Ashoka Buildcon management of over Rs. 5.03 lakh crore, include a
group. The Proposed Combination involves the consolidated lending book of over Rs. 1.46 lakh
acquisition by MIT, acting through Maple Infra Invit crore and gross written premium of Rs. 16,942
Investment Manager Private Limited (Maple IM) of crore in Life and health insurance businesses in nine
Ashoka Dhankuni Kharagpur Tollway Limited months of FY25.
(ADKTL); Ashoka Sambalpur Baragarh Tollway
Limited (ASBTL); Ashoka Belgaum Dharwad Tollway 287. (c) The Agricultural and Processed Food
Limited (ABDTL); Ashoka Highways (Bhandara) Products Export Development Authority (APEDA)
Limited (AHBL); and Ashoka Highways (Durg) showcased Indias agricultural and processed food
Limited (AHDL). excellence at the 39th edition of AAHAR 2025,
organized by the India Trade Promotion
284. (c) Mukesh Ambani-led Reliance Industries Ltd Organization (ITPO) from 4th to 8th March 2025 at
(RIL) has announced the acquisition of 100 per cent Bharat Mandapam, New Delhi. APEDA facilitated the
equity stake in Nauyaan Tradings Private Limited participation of 95 exhibitors, including Farmer
(NTPL) through its wholly owned subsidiary Reliance Producer Organizations (FPOs), Farmer Producer
Strategic Business Ventures Limited (RSBVL). The Companies (FPCs), entrepreneurs, and
transaction, valued at just Rs. 1 lakh, was manufacturing companies from 17 States, including
completed with Welspun Tradings Limited, a Gujarat, Punjab, Rajasthan, Madhya Pradesh,
subsidiary of Welspun Corp Limited (WCL). With this Maharashtra, West Bengal, Andhra Pradesh, Uttar
acquisition, NTPL has become a step-down wholly Pradesh, Karnataka, Hyderabad, Kerala, Telangana,
owned subsidiary of RIL, effective immediately. and Tamil Nadu, as well as Union Territories such as
NTPL has also entered into a share purchase Delhi, Haryana, Chandigarh, and Jammu & Kashmir.
agreement with WCL to acquire a 74 per cent stake Their participation showcased India's strength in
in Nauyaan Shipyard Private Limited (NSPL) for a agriculture and processed food sectors while
total consideration of Rs. 382.73 crore. The deal is highlighting the collaborative spirit driving
subject to adjustments related to expenses and net innovation and growth within the industry.
current assets. Addressing the India Plant-Based Foods Show
organized by the Plant-Based Food Industry
285. (c) Fintech SaaS company Zaggle Prepaid Association at AAHAR 2025, APEDA Chairman Shri
Ocean Services Ltd has announced the acquisition Abhishek Dev underscored Indias expanding
of a 51% controlling stake in Hyderabad-based footprint in agricultural and processed food exports.
billing software provider EffiaSoft Private Ltd. This He also emphasized the need to explore plant-
deal, valued at over Rs. 41 crore, is set to based exports as a sustainable alternative to meet
strengthen Zaggles position in the fintech global environmental goals.
ecosystem by enhancing its merchant services and
payment processing capabilities. The acquisition will 288. (c) The Government of India has withdrawn
be executed in two stages. Initially, Zaggle will 20% duty on onion export, effective from 1st April,
acquire a 45.33% stake in EffiaSoft for Rs. 36.72 2025. A notification to this effect was issued by the
crore, purchasing shares from founders Koushik Department of Revenue today on the
Shee and Akula Krishna Rao, as well as other communication of Department of Consumer Affairs.
existing shareholders. The board has also approved To ensure domestic availability, the government

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had taken measures to check export by means of available 28 grades of P&K fertilizers to farmers at
duty, minimum export price (MEP) and even to the subsidized prices through fertilizer
extent of export prohibition for almost five months, manufacturers/importers. The subsidy on P&K
from 8th December, 2023 till 3rd May, 2024. The fertilizers is governed by NBS Scheme w.e.f.
export duty of 20% which now stands removed has 01.04.2010. In accordance with its farmer friendly
been in place from 13th September, 2024. Despite approach, the Government is committed to ensure
export restriction, the total onion export during FY the availability of P&K fertilizers to the farmers at
2023-24 was 17.17 LMT and FY 2024-25 (till 18th affordable prices. In view of the recent trends in the
March) was 11.65 LMT. Monthly onion export international prices of fertilizers & inputs i.e. Urea,
quantity had picked up from 0.72 LMT in DAP, MOP and Sulphur, Government has decided to
September, 2024 to 1.85 LMT in January, 2025. The approve the NBS rates for Kharif 2025 effective
modal prices in Lasalgaon and Pimpalgoan on 21st from 01.04.25 to 30.09.25 on Phosphatic and
March, 2025 were Rs.1330/qtl and Rs.1325/qtl, Potassic (P&K) fertilizers including NPKS grades.
respectively. As per the estimates of Department of The subsidy would be provided to the fertilizer
Agriculture & Farmers Welfare, rabi production this companies as per approved and notified rates so
year at 227 lakh metric tonnes (LMT) is over 18% that fertilizers are made available to farmers at
higher than 192 LMT last year. The rabi onion which affordable prices.
accounted for 70-75% of Indias total onion
production is crucial for overall availability and 291. (b) State-run power giant NTPC said the group
stability in prices till the arrival of kharif crop from has achieved its fastest-ever generation of 400
October/November onward. Billion Units (BU) on March 1, 2025, in the FY24-25.
This milestone was achieved in just 335 days, 12
289. (b) The Agricultural and Processed Food days earlier as compared to the last financial year,
Products Export Development Authority (APEDA), a company statement said. In FY23-24, the
under the Ministry of Commerce & Industry, company had crossed 400 BU generation on 13th
Government of India, proudly announced the global March 2024. NTPC Ltd, Indias largest integrated
resurgence of the traditional Indian Goli Soda, power utility, contributes one-fourth of the
rebranded as Goli Pop Soda. APEDA facilitated and country's power requirements. It has an installed
featured Goli Pop Soda at the International Food & capacity of over 77 GW, with an additional capacity
Drink Event (IFE) London 2025, held from 17th- of 29.5 GW under construction, including 9.6 GW of
19th March 2025. To commemorate this milestone, renewable energy capacity. In FY23-24, the
APEDA supported the flag-off ceremony organized company had crossed 400 BU generation on 13th
by ABNN on 4th February 2025, marking the official March 2024.
global launch of Goli Pop Soda.
292. (b) Maintaining its strong growth trajectory,
290. (a) The Union Cabinet chaired by Prime MOIL has delivered its best-ever February
Minister Shri Narendra Modi approved the proposal performance in 2025 in terms of: Best ever
of the Department of Fertilizers for fixing the February production of 1.53 lakh tonnes Manganese
Nutrient Based Subsidy (NBS) rates for KHARIF (Mn) ore. Best ever February exploratory core
Season, 2025 (from 01.04.2025 to 30.09.2025) on drilling of 11,455 meters, scaling an impressive
Phosphatic and Potassic (P&K) fertilizers. The growth of 43% over CPLY. During April-February,
budgetary requirement for Kharif season 2024 2025 period also, MOIL has registered the following
would be approximately Rs. 37,216.15 cr. This is notable achievements: Sales of 14.32 lakh tonnes,
approximate Rs. 13,000 crore more than the higher by 3% over CPLY. Exploratory core drilling of
budgetary requirement for Rabi seasons 2024- 94,894 meters , which is higher by 20% over CPLY.
25. Benefits: Availability of fertilizers to farmers at Shri Ajit Kumar Saxena- CMD.
subsidized, affordable and reasonable prices will be
ensured. Rationalization of subsidy on P&K 293. (a) Public sector undertakings Indian Railway
fertilizers in view of recent trends in the Catering and Tourism Corporation (IRCTC) and
international prices of fertilizers and Indian Railway Finance Corporation (IRFC) were
inputs. Implementation Strategy and targets: granted 'Navratna' status by the Government of
The subsidy on P&K fertilizers including NPKS India. Navratna status is conferred upon public
grades will be provided based on approved rates for sector undertakings that demonstrate outstanding
Kharif 2025 (applicable from 01.04.2025 to financial and market performance.This recognition
30.09.2025) to ensure smooth availability of these enhances their autonomy and financial authority. A
fertilizers to the farmers at affordable key advantage of this status is that the companies
prices. Background: Government is making can invest up to Rs 1,000 crore or 15 per cent of

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their net worth in a single project without needing propose measures to create a more enabling
prior approval from the central government. environment for fintech innovation. A report is
Furthermore, it enables them to independently expected to be submitted within three months from
establish partnerships, create subsidiaries, and its first meeting. This move follows a series of
enter into joint ventures. IRCTC is a Ministry of regulatory actions by the government and RBI over
Railways CPSE with an annual turnover of Rs the past few years. In 2023, the RBI increased risk
4,270.18 crore, PAT of Rs 1,111.26 crore and a net weightage for consumer credit exposure of banks
worth of Rs 3,229.97 crore for FY 2023-24. IRFC is and non-banking financial companies (NBFCs).
a Ministry of Railways CPSE with an annual turnover Furthermore, in a recent crackdown, the central
of Rs 26,644 crore, PAT of Rs 6,412 crore and a net bank penalized four peer-to-peer (P2P) lending
worth of Rs 49,178 crore for FY 2023-24. platformsFaircent, LEO1, Finzy, and Rang Defor
non-compliance with regulatory norms.
294. (a) State-owned gas utility GAIL (India) Ltd is
set to commence LNG imports from Qatar Energy 296. (d) The 8th State Level Coordination
Trading starting next month under a five-year Committee (SLCC) Meeting was conducted by the
contract that will see the company receiving 12 Reserve Bank of India (RBI), Gangtok on March 26,
cargoes annually. The move comes as part of GAILs 2025, at Tashiling Secretariat. The meeting was
strategy to secure long-term gas supplies and meet held under the chairmanship of Shri Ravindra
the increasing energy demand in India. Apart from Telang, Chief Secretary, Government of Sikkim, and
the Qatar Energy agreement, GAIL has recently was convened by Shri Thotngam Jamang, Regional
entered into multiple long-term LNG procurement Director of RBI. During the meeting, the committee
deals to strengthen its supply network. The discussed the implementation of the BUDS Rules for
company has signed a 10-year agreement with the State of Sikkim under the Banning of
commodity trader Vitol Asia for approximately 1 Unregulated Deposit Schemes (BUDS) Act, 2019.
million tonnes per annum (MTPA) of LNG, starting They also deliberated on various types of financial
from 2026. Additionally, GAIL has secured another frauds being reported on Helpline 1930 and the
long-term contract with the UAEs ADNOC Gas for total recovery done by the Sikkim Police. The RBI
the supply of 0.5 MTPA of LNG from 2026 onwards, Manager discussed the various types of digital
also for a period of 10 years. These agreements frauds rampant and the initiatives taken by RBI to
align with India's national objective of increasing curb the growth of fraudulent activities. RBI and
the share of natural gas in the overall energy mix SEBI also discussed various programs on Investor
from the current 6-7 percent to 15 percent by 2030. Awareness and Customer Grievance Redress
Mechanism conducted by them to educate the
295. (e) The Indian government has constituted an public about common digital frauds and
inter-ministerial committee to address challenges mechanisms to safeguard their financial rights.
faced by the countrys rapidly growing fintech
sector. The panel, set up by the Department of 297. (c) The Indian Institute of Foreign Trade (IIFT)
Financial Services, includes representatives from has signed a Memorandum of Understanding (MoU)
key government bodies such as the Department of with APEC Antwerp/Flanders Port Training Center,
Economic Affairs, NITI Aayog, the Ministry of Belgium, marking a significant step towards
Electronics and IT, the Department for Promotion of enhancing academic collaboration and knowledge
Industry and Internal Trade (DPIIT), as well as exchange in the fields of international trade,
regulatory authorities like the Reserve Bank of India logistics, and supply chain management. The MoU
(RBI) and the Securities and Exchange Board of aims to strengthen trade education and training ties
India (SEBI). In addition to government officials, between India and Belgium by facilitating faculty
the committee will also feature fintech industry and student exchanges for cross-cultural business
leaders, including Lalit Keshre (Groww), Jitendra learning. It includes joint research on port
Gupta (Jupiter), Varun Dua (Acko General management, global logistics, and trade facilitation,
Insurance), and Ajay Kaushal (BillDesk). Their role along with specialized training programs,
will be to provide industry insights and help shape workshops, and industry interactions. Additionally,
policies to support fintech innovation while ensuring the collaboration will enhance knowledge transfer in
compliance with regulatory frameworks. The critical areas such as e-governance, digital trade,
primary objective of this initiative is to assess the and emerging business technologies. Following the
fintech sectors growth, and its impact on banking, MoU signing, a roundtable discussion was held
financial services, and insurance (BFSI), and between the Minister-President of Belgium and IIFT
identify hurdles faced by startups. The committee alumni who had previously visited Flanders, sharing
will also review regulatory developments and their experiences and key takeaways from the

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program. About IIFT: Established in 1963 as an lasting change. Further, the year 2025 is a pivotal
autonomous body under the Ministry of Commerce, moment as it marks the 30th anniversary of the
the Indian Institute of Foreign Trade (IIFT) has Beijing Declaration and Platform for Action. This
gained Deemed University status and is one of the document is the most progressive and widely
premier business institutions in India, focusing on endorsed blueprint for womens and girls rights
Foreign Trade. It is highly regarded as an academic worldwide, transforming the womens rights agenda
center of excellence in international business in terms of legal protection, access to services,
research, training, and education. About APEC youth engagement, and change in social norms.
Antwerp/Flanders Port Training Center: APEC is a India is a signatory to international treaties such as:
leading training institute affiliated with the Port of Universal Declaration of Human Rights (1948)
Antwerp-Bruges, providing specialized programs in International Covenant on Civil and Political Rights
port management, trade facilitation, and logistics, (ICCPR, 1966) Convention on the Elimination of All
contributing to global capacity building in the Forms of Discrimination Against Women (CEDAW,
maritime and trade sectors. 1979) Beijing Declaration and Platform for Action
(1995) United Nations Convention Against
298. (e) Sahitya Akademi, Indias premier literary Corruption (2003) Agenda 2030 SD.
institution working under the Ministry of Culture,
Government of India, will be organizing its annual 300. (b) Bank of Baroda has launched a specialised
Festival of Letters at Rabindra Bhavan in New Delhi savings account for women NRIs, becoming the first
from 7th March 2025 to 12th March 2025. Union Indian public sector bank to offer such a product.
Minister for Culture and Tourism Shri Gajendra The BoB Global Women NRE & NRO Savings
Singh Shekhawat, Government of India, will Account provides benefits including concessional
inaugurate the festival. This is Asias Largest rates on home and auto loans, reduced processing
Literature Festival with about 700 writers from fees, full waivers on locker rent, and, a customised
different parts of the country representing more debit card with complimentary airport lounge
than 50 languages participating in the festival that access. The account also comes with free personal
spans over 100 sessions. The theme of the festival and air accident insurance coverage. In addition to
will be Indian Literary Traditions and a National the women-centric offering, the bank has upgraded
Seminar on the topic featuring eminent thinkers its bob Premium NRE & NRO Savings Account. The
and, writers will be organized during the last three enhanced account features a debit card with higher
days of the festival. The festival will feature Young transaction limits, free airport lounge access, free
Writers, Women Writers, Dalit Writers, Writers from safe deposit locker, and concessional loan rates.
North East, Tribal writers and poets, LGBTQ writers Founded in 1908, Bank of Baroda operates in 17
and poets along with many eminent writers, countries and serves around 165 million customers.
translators, publishers, poets and distinguished The new offerings are part of the banks strategy to
personalities from different walks of life and, strengthen its position in the global NRI banking
Festival of Letters continue its status as Indias Most segment.
Inclusive Literature Festival since 1985. A daylong
programme for children, Spin A Tale, will be 301. (b) The Central Council for Research in
organized on the final day of the festival. Homoeopathy (CCRH), New Delhi and Adamas
Throughout the festival, there will be presentations, University, Kolkata, have signed a Memorandum of
readings and discussions by eminent authors, Understanding (MoU) to foster academic and
poets, translators, publishers and critics on a wide research collaboration in the field of Homoeopathy.
range of subjects. The agreement was formally signed on 1st March
2025 by Dr. Subhash Kaushik, Director General,
299. (c) International Women's Day is celebrated CCRH, and Prof. Suranjan Das, Vice-Chancellor,
around the world on 8th March. It is a day when Adamas University, in the esteemed presence of
women are recognized for their achievements Nobel Laureate Sir Gregory Paul Winter and Dr.
across national, ethnic, linguistic, cultural, economic Samit Ray, Chancellor, Adamas University Kolkata.
or political boundaries. The theme of International This MoU marks a significant milestone in
Womens Day 2025 is For ALL Women and Girls: interdisciplinary research, paving the way for
Rights. Equality. Empowerment. This years theme scientific advancements in homoeopathy through
calls for action to unlock equal rights, power and knowledge exchange and collaborative initiatives.
opportunities for all and an inclusive future where
no one is left behind. Central to this vision is 302. (b) The Agricultural and Processed Food
empowering the next generationyouth, particularly Products Export Development Authority (APEDA)
young women and adolescent girlsas catalysts for showcased Indias agricultural and processed food

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excellence at the 39th edition of AAHAR 2025, are being looked after by Reserve Bank of India.
organized by the India Trade Promotion The Prevention of Money Laundering (Maintenance
Organization (ITPO) from 4th to 8th March 2025 at of Records) Rules, 2005 empowers the Director,
Bharat Mandapam, New Delhi. APEDA facilitated the Financial Intelligence Unit- India (FIU-IND) to issue
participation of 95 exhibitors, including Farmer guidelines in consultation with the concerned
Producer Organizations (FPOs), Farmer Producer regulator for detecting and reporting suspicious
Companies (FPCs), entrepreneurs, and transactions to FIU-IND, as per news by the
manufacturing companies from 17 States, including Minister of State in the Ministry of Home Affairs
Gujarat, Punjab, Rajasthan, Madhya Pradesh, Nityanand Rai in the Rajya Sabha in March 2025
Maharashtra, West Bengal, Andhra Pradesh, Uttar India is participating in NMFT Conferences since
Pradesh, Karnataka, Hyderabad, Kerala, Telangana, 2018.
and Tamil Nadu, as well as Union Territories such as
Delhi, Haryana, Chandigarh, and Jammu & Kashmir. 304. (b) World Consumer Rights Day, observed
Their participation showcased India's strength in annually on March 15, serves as an essential
agriculture and processed food sectors while reminder of the need to uphold consumer rights and
highlighting the collaborative spirit driving protection. The day is an opportunity to promote
innovation and growth within the industry. the basic rights of all consumers and encourage
Addressing the India Plant-Based Foods Show those rights to be respected and protected. World
organized by the Plant-Based Food Industry Consumer Rights Day was first observed in 1983.
Association at AAHAR 2025, APEDA Chairman Shri Consumer Protection Act, 2019 With a view to
Abhishek Dev underscored Indias expanding modernize the framework governing the consumer
footprint in agricultural and processed food exports. protection in the new era of globalization,
He also emphasized the need to explore plant- technologies, e-commerce markets etc., the
based exports as a sustainable alternative to meet Consumer Protection Act, 1986 was repealed and
global environmental goals. Consumer Protection Act, 2019 was enacted. The
Consumer Protection Act, 2019 provides for a three
303. (e) 4TH NO MONEY FOR TERROR tier quasi-judicial machinery at District, State and
CONFERENCE IN MUNICH. During the 4th NMFT Central levels commonly known as Consumer
Conference India advocated that unity amongst Commissions for protection of the rights of
nations is essential in the fight against Terrorism consumers and to provide simple and speedy
and India stands steadfast with the global redressal of consumer disputes including those
community in this fight. India raised concerns that related with unfair trade practices. Further, in terms
Terror financing increasingly has cross border of Section 38 (7) of the Consumer Protection Act,
linkages in terms of flow of funds and due to the 2019, every complaint shall be disposed of as
development of new digital technologies; the expeditiously as possible and endeavour shall be
sources, methods and channels used for flow of made to decide the complaint within a period of
assets by terrorists are becoming increasingly more three months from the date of receipt of notice by
complex, and pose a significant challenge to global opposite party where the complaint does not require
security. In order to meet the challenges of terror analysis or testing of commodities and within five
funding, the Government has strengthened the months if it requires analysis or testing of
intelligence set up to collect, collate and commodities.
disseminate information on real time basis, the
legal regime has been strengthened by amending 305. (b) In a significant move to enhance credit
the Unlawful Activities (Prevention) Act, 1967 and accessibility for middle and low-income borrowers,
the Prevention of Money Laundering Act, 2002, and particularly in rural and semi-urban areas, Piramal
a Terror Funding and Fake Currency (TFFC) Cell and Capital & Housing Finance Limited (Piramal Finance)
three new verticals related to Cyber Terrorism, has entered into a strategic co-lending partnership
Explosive and Prohibited Arms and Human with Punjab & Sind Bank. This collaboration aims to
Trafficking have been created in NIA, to conduct strengthen financial inclusion by offering customised
focused investigation of terror funding and fake credit solutions at competitive rates, especially in
currency cases. A Fake Indian Currency Note Co- Tier 2 and Tier 3 cities. The partnership leverages
ordination Centre (FCORD) has been formed by the Punjab & Sind Banks extensive network of 1,575
Ministry of Home Affairs to share intelligence inputs branches alongside Piramal Finances expansive
and information amongst the different security reach across 514 branches spanning 13,000 pin
agencies of the Centre and States to curb the codes and, serving 4.5 million customers across 26
circulation of Counterfeit currencies in the country. states. By combining Punjab & Sind Banks deep
The regulatory aspects for the Financial Ecosystem financial expertise with Piramal Finances High Tech

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High Touch approach, the initiative seeks to address Secretary International Policy Division, Department
the credit needs of micro, small, and medium of Defence, Australia, Bernard Philip. The previous
enterprises (MSMEs) as well as home loan seekers. edition of the talks was held in 2023.
Jairam Sridharan- Managing Director, Piramal
Finance. 309. (e) The 2025 theme of the International Day is
60th anniversary of the International Convention on
306. (d) Meghalaya initiated the scientific mining of the Elimination of All Forms Racial of Discrimination
coal after almost a decade of ban on rat-hole coal (ICERD). On December 21, 1965, the United
mining imposed by the National Green Tribunal Nations General Assembly adopted the International
(NGT). Chief Minister Conrad K Sangma virtually Convention on the Elimination of All Forms of Racial
inaugurated the first scientific coal mining block at Discrimination (ICERD) through Resolution 2106
Saryngkham-A block in the Byndihati area of East (XX). The International Day for the Elimination of
Jaintia Hills district. The NGT enforced the ban on Racial Discrimination is observed annually on the
rat-hole coal mining in 2014 after a series of coal day the police in Sharpeville, South Africa, opened
mine tragedies in Meghalaya over the years. Later, fire and killed 69 people at a peaceful
the Supreme Court had upheld the ban order. There demonstration against apartheid "pass laws" in
are allegations galore that despite the ban, the 1960.
illegal mining and transportation of coal have
continued in the state. 310. (b) UNESCO first adopted 21 March as World
Poetry Day during its 30th General Conference in
307. (e) The 23rd edition of the bilateral naval Paris in 1999, with the aim of supporting linguistic
exercise VARUNA, a testament to the enduring diversity through poetic expression and increasing
maritime partnership between India and France, is the opportunity for endangered languages to be
set to take place from 19 to 22 Mar 25. Since its heard. World Poetry Day is the occasion to honour
inception in 2001, VARUNA has evolved into a poets, revive oral traditions of poetry recitals,
cornerstone of cooperation, showcasing the two promote the reading, writing and teaching of
nations' commitment to enhancing naval poetry, foster the convergence between poetry and
interoperability and operational synergy. This year's other arts such as theatre, dance, music and
edition promises an exhilarating array of maritime painting, and raise the visibility of poetry in the
exercises and complex manoeuvres across the sub- media.
surface, surface, and air domains. The joint
participation of the aircraft carriers Vikrant and 311. (c) The Gold Monetisation Scheme (GMS) was
Charles de Gaulle, alongside their fighter aircraft, announced on 15th September, 2015 with the
destroyers, frigates, and an Indian Scorpene-class objective to reduce countrys reliance on the import
submarine, highlights the collaborative strength of of gold in the long run and mobilise gold held by
both Navies. VARUNA 2025 will feature advanced households and institutions in the country to
air defence drills and fighter exercises, including facilitate its use for productive purposes. Short
mock air-to-air combat between the French Rafale- Term Bank Deposit (1-3 years) Medium Term
M and Indian MiG-29K, designed to refine tactical Government Deposit (5-7 years), and Long-Term
and operational capabilities. VARUNA 2025 stands Government Deposit (12- 15 years) Based on the
as a powerful reminder of the deep bonds uniting examination of the performance of Gold
the Indian and French Navies in their pursuit of Monetisation Scheme (GMS) and evolving market
maritime peace and security. conditions, it has been decided to discontinue the
Medium Term and Long Term Government Deposit
308. (e) India and Australia agreed to further (MLTGD) components of the GMS w.e.f. March 26,
deepen cooperation and interoperability across 2025. Accordingly, any gold deposits tendered at
maritime, land and air domains, including working the designated Collection and Purity Testing Centre
with multilateral partners. Besides, the two (CPTC) or GMS Mobilisation, Collection & Testing
countries also decided to focus on cooperation in Agent (GMCTA) or the designated bank branches
maritime domain awareness, reciprocal information under the said components of GMS shall not be
sharing, industry and science and technology accepted with effect from March 26, 2025.
collaboration aside from, exchanges including However, the existing deposits under MLTGD shall
deployments from each others territories. This was continue till redemption as per extant guidelines of
agreed in the 9th India-Australia defence policy GMS issued vide Reserve Bank Master Direction.
talks held in New Delhi. The Indian delegation was Further, the Short-Term Bank Deposits (STBD)
headed by Joint Secretary Amitabh Prasad, while offered by the banks under GMS shall continue at
the Australian side was led by First Assistant

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the discretion of the individual banks based on the (black gram), and masoor (lentils) if prices fall
commercial viability as assessed by them. below the MSP for the next four years, until 2028-
29. For the 2024-25 kharif season, the Centre has
312. (d) In 2006, the United Nations General also approved procurement of tur at MSP from
Assembly, through resolution 61/19, recognized Andhra Pradesh, Chhattisgarh, Gujarat, Haryana,
that the slave trade and slavery are among the Karnataka, Madhya Pradesh, Maharashtra,
worst violations of human rights in the history of Telangana, and Uttar Pradesh. Additionally, the
humanity, bearing in mind particularly their scale procurement window for tur in Karnataka has been
and duration and designated 25 March 2007 as the extended by 30 days, from 90 days to May 1, 2025.
International Day for the Commemoration of the The government has also procured record quantities
Two-hundredth Anniversary, of the Abolition of the of soybean during the kharif season after market
Transatlantic Slave Trade. The following year, prices fell below the MSP. So far, the National
through resolution 62/122, it designated 25 March Agricultural Cooperative Marketing Federation of
as an annual International Day of Remembrance of India (NAFED) and the National Cooperative
the Victims of Slavery and the Transatlantic Slave Consumers Federation of India (NCCF) have
Trade, beginning in 2008. The Abolition of the Slave procured 0.24 million tonnes of tur from Andhra
Trade Act was passed in the United Kingdom on 25 Pradesh, Gujarat, Karnataka, Maharashtra, and
March 1807. Telangana at MSP, benefiting nearly 1,71,569
farmers in these states. In Uttar Pradesh, a major
313. (e) As per the recent report, Bank of India has tur-growing state, prices are currently ruling above
raised $400 million via a dollar syndicated loan, the MSP. Announcing these decisions, agriculture
marking its first such deal since 2012 that expands minister Shivraj Singh Chouhan said the Modi
a list of the countrys borrowers tapping global credit governments objective is to benefit farmers and it
markets. The rarity factor helped attract strong will leave no stone unturned in fulfilling this goal.
interest in the deal, allowing the borrower to He also appealed to states to ensure that no
increase the size by $100 million via the so-called procurement takes place below the MSP.
greenshoe option, said the people, who asked not Procurement of copra (both milling and ball
to be named discussing private matters. The facility varieties) has also been approved in Tamil Nadu.
drew a total of 22 lenders including arrangers CTBC
Bank Co. and Standard Chartered Plc, the people 315. (b) The Supreme Court has ruled that insurers
said. The loan is equally split into three- and five- can deny health insurance claims if a customer had
year tranches, and raised via Bank of Indias branch not explicitly disclosed their alcoholism at the time
located in Gujarat International Finance Tec-City, of purchasing a policy. This judgment serves as a
said the people. A spokesperson for Bank of India wake-up call in the insurance ecosystem. The
declined to comment. The deal is the latest sign of principle of utmost good faith will bind both the
the growing appeal of Indian assets to global insurer and the insurer. Non-disclosure could give
investors and lenders, with the Asian nations bonds the insurer a ground to repudiate the claim, when
posting strong monthly inflows and stocks the claim is arising out of alcohol consumption, said
recuperating from a trillion dollar selloff. The return Alay Razvi, managing partner, Accord Juris.
of confidence stems from improving economic Insurers typically assess medical records for past
indicators, the Indian central banks liquidity alcohol-related conditions, examine the cause of
injections, and bets on an interest rate cut next hospitalisation to determine if alcohol played a role,
month. and refer to policy terms to see if alcohol-related
illnesses are explicitly excluded. We believe that if
314. (c) The Union government has approved the occasional drinking had no impact on the claimed
direct procurement of 2.8 million tonnes of chana illness, the insurer may not have valid grounds for
(gram), 2.82 million tonnes of mustard, and 0.94 rejection. However, if drinking, however infrequent,
million tonnes of lentils at the Minimum Support worsened a pre-existing condition or was a factor in
Price (MSP) during the current rabi season to hospitalisation, the claim could still be denied, said
ensure farmers receive remunerative prices for their Aslam Ahmed, Partner, Singhania & Co. To avoid
crops. Farmers in Rajasthan, Madhya Pradesh, and such issues, it is advisable to the prospective health
Gujarat are expected to benefit from this decision, insurance applicants that they be transparent and
an official statement said. The purchases have been provide all the requisite information, including but
approved under the revamped PM-AASHA (Pradhan not limited to medical history and lifestyle choices,
Mantri Annadata Aay Sanrakshan Abhiyan) scheme. as adopting the practice of full disclosure would
Under this scheme, the government has committed benefit the policy holders, in situations of an
to procuring 100 per cent of tur (pigeon pea), urad

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untoward event, said Shivam Chowdhury, advocate, Accelerated Irrigation Benefits Programme (AIBP)
Delhi High Court. component of PMKSY is for creation of irrigation
potential through major and medium irrigation
316. (c) The Cabinet Committee on Economic projects. So far 63 projects have been completed
Affairs (CCEA) chaired by the Prime Minister Shri under PMKSY-AIBP and additional irrigation
Narendra Modi, has approved inclusion of Kosi potential of 26.11 lakh hectare has been created
Mechi Intra-State Link Project of Bihar under since April, 2016. Nine projects have been included
Pradhan Mantri Krishi Sinchai Yojana0Accelerated after AIBP component of PMKSY 2.0 since 2012-22.
Irrigation Benefits Programme (PMKSY-AIBP) of Kosi Mechi Intra-State Link project is tenth project
Ministry of Jal Shakti. The CCEA has also approved included in the list.
central support of Rs.3,652.56 crore to Bihar for
completion of the project by March, 2029 with an 317. (b) The 14th edition of the Indian - Russia
estimated cost of Rs.6,282.32 crore. The Link bilateral naval exercise INDRA, a cornerstone of the
Project will provide 2,10,516 hectares additional enduring maritime partnership between India and
annual irrigation in Kharif season in Araria, Purnea, Russia, is set to take place off Chennai from 28 Mar
Kishanganj and Katihar districts of Bihar. The to 02 Apr 25. Since its inception in 2003, Exercise
project has potential to divert/utilize about 2,050 INDRA epitomises the long-term strategic
million cubic meter of surplus water of Kosi through relationship between the two Navies. The exercise
the proposed link canal. Further, after remodelling has evolved into a symbol of maritime cooperation,
of existing EKMC, shortfall supply to 1.57 lakh showcasing the two nations' commitment to
hectare existing command of existing Eastern Kosi enhancing naval interoperability and operational
Main Canal shall be synergy. The exercise is being conducted in two
restored. Background: Pradhan Mantri Krishi phases - Harbour phase from 28 to 30 Mar 25 at
Sinchai Yojana (PMKSY) was launched during the Chennai, and Sea phase from 31 Mar to 02 Apr 25
year 2015-16, with an aim to enhance physical in Bay of Bengal. The exercise will see participation
access of water on farm and expand cultivable area of Russian Federation Naval Ships Pechanga, Rezkiy
under assured irrigation, improved on-farm water and Aldar Tsydenzhapov along with Indian Naval
use efficiency, introduce sustainable water Ships Rana, Kuthar and Maritime patrol aircraft P8l.
conservation practices, etc. Government of India These exercises and interactions are intended at
has approved implementation of PMKSY during enhancing maritime cooperation, strengthening
2021-26 with an overall outlay of Rs.93,068.56 bridges of friendship, exchanging best operational
crore (central assistance of Rs.37,454 crore). practices and to bolster diplomatic.

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Static Banking/Finance Quick Bites

Indian Banking History

A bank is a financial organisation which accepts deposits that can be withdrawn on demand and lends
money to individual and business houses that need it.
• First bank in India, Bank of Hindustan was established in 1770 and liquidated in 1829-32 and
the General Bank of India, established in 1786 but failed in 1791.
• The largest bank, and the oldest still in existence, is the State Bank of India (SBI). It originated as the
Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank of Bengal.
• The origin of the State Bank of India goes back to the first decade of the nineteenth century with the
establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank
received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique
institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal.
• The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal.
These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial
Bank of India on 27 January 1921.

Evolution of Banking Regulation in India: -

As functions of the Reserve Bank evolved over the years, the regulatory and supervisory approaches were
modified as and when deemed necessary. In tune with the developments that have taken place from time
to time in the Indian economy in general and the banking system in particular, the objectives and
approaches of regulation and supervision have also changed, while retaining the basic purpose of
maintaining the soundness and stability of the banking system.

Indian Banking system: -

Commercial Banks: -
The commercial banking sector in India is quite diverse. Based on the ownership pattern, banks can be
broadly categorised into public sector banks, private sector banks and foreign banks.
• While the State Bank of India, nationalised banks and Regional Rural Banks (RRBs) are constituted under
respective enactments of the Parliament, the private sector banks and foreign banks are considered as
banking companies as defined in the Banking Regulation Act, 1949.
• Till 2015, only universal banking licenses were being issued. However, since 2015, licenses for
differentiated banks (niche banks) are also being issued alongside licenses for universal banks.

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Regional Rural Banks: -

Regional Rural Banks (RRBs) were setup with a view to developing the rural economy by providing credit
and other facilities, particularly to the small and marginal farmers, agricultural labourers, artisans and
small entrepreneurs. Being local level institutions, RRBs together with commercial and co-operative banks,
were assigned a critical role to play in the delivery of agriculture and rural credit.
• The equity of the RRBs was contributed by the Central Government, State Government concerned
and the sponsor bank in the proportion of 50:15:35.
• The function of financial regulation over RRBs is exercised by Reserve Bank and the supervisory powers
have been vested with NABARD.

Local Area Banks Local: -

Area Banks (LABs) were conceived as low-cost structures and for providing efficient and competitive
financial intermediation services in their areas of operation in the rural and semi-urban areas.
• The Scheme envisaged a Local Area Bank with a minimum capital of INR 5 Crore and an area of
operation comprising three contiguous districts.
• Further, to provide LABs an opportunity to grow, in December 2012, they were permitted to expand their
area of operation to two more districts.
Foreign Banks: -
Foreign banks are permitted to operate in India either as branches or Wholly Owned Subsidiaries (WOS).
Permission for opening of branches by foreign banks in India is guided by India’s commitment to WTO.

Banks in India: -
List of Public Sector Banks: -
Name of Bank Year of Establishment Headquarters
Bank of Baroda 1908 Vadodara, Gujarat
Bank of India 1906 Mumbai, Maharashtra
Bank of Maharashtra 1935 Pune, Maharashtra
Canara Bank 1906 Bengaluru, Karnataka
Central Bank of India 1911 Mumbai, Maharashtra
Indian Bank 1907 Chennai, Tamil Nadu
Indian Overseas Bank 1937 Chennai, Tamil Nadu
Punjab National Bank 1894 New Delhi, Delhi
Punjab & Sind Bank 1908 New Delhi, Delhi
State Bank of India 1955 Mumbai, Maharashtra
Union Bank of India 1919 Mumbai, Maharashtra
UCO Bank 1943 Kolkata, West Bengal

List of Private Sector Banks: -

Axis Bank Ltd. 1993 Mumbai, Maharashtra
Bandhan Bank Ltd. 2015 Kolkata, West Bengal
CSB Bank Ltd. 1920 Thrissur, Kerala
City Union Bank Ltd. 1904 Kumbakonam, Tamil Nadu
DCB Bank Ltd. 1930 Mumbai, Maharashtra
Dhanlaxmi Bank Ltd 1927 Thrissur, Kerala
Federal Bank Ltd. 1931 Kochi,Kerala
HDFC Bank Ltd 1994 Mumbai, Maharashtra
ICICI Bank Ltd. 1994 Mumbai, Maharashtra
Induslnd Bank Ltd 1994 Mumbai, Maharashtra
IDFC First Bank Ltd 2015 Mumbai, Maharashtra
Jammu & Kashmir Bank Ltd. 1938 Srinagar, Jammu and
Kashmir
Karnataka Bank Ltd. 1924 Mangaluru, Karnataka
Karur Vysya Bank Ltd 1916 Karur, Tamil Nadu

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Kotak Mahindra Bank Ltd. 2003 Mumbai, Maharashtra

Lakshmi Vilas Bank Ltd (merged with DBS Bank India Limited 1926 Chennai, Tamil Nadu
in 2020)
Nainital Bank Ltd. 1922 Nainital, Uttarakhand
RBL Bank Ltd. 1943 Mumbai, Maharashtra
South Indian Bank Ltd. 1929 Thrissue, Karala
Tamilnad Mercantile Bank Ltd. 1021 Thoothukkudi, Tamil Nadu
YES Bank Ltd. 2004 Mumbai, Maharashtra
IDBI Bank Ltd. 1964 Mumbai, Maharashtra

Reserve Bank of India Structure and Function

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of
the Reserve Bank of India Act, 1934.
• The Central Office of the Reserve Bank was initially established in Kolkata but was permanently
moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
• Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the
Government of India.
The purposes for which the RBI has been established as India’s central bank has been spelt out in the
preamble to the RBI Act, which states as follows:
(i) “to regulate the issue of banknotes and the keeping of reserves with a view to securing monetary
stability in India and generally to operate the currency and credit system of the country to its advantage;
and
(ii) that it is essential to have a modern monetary policy framework to meet the challenge of an
increasingly complex economy and the primary objective of the monetary policy is to maintain price
stability while keeping in mind the objective of growth” 4.
Thus, the Preamble in the RBI Act, as amended by the Finance Act, 2016, provides that the primary
objective of the monetary policy is to maintain price stability, while keeping in mind the objective of
growth, and to meet the challenge of an increasingly complex economy.

Structure of Central Board of the Reserve Bank of India

The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the
Government of India in keeping with the Reserve Bank of India Act.
• Appointed/nominated for a period of four years
• Constitution:
o Official Directors
▪ Full-time : Governor and not more than four Deputy Governors
o Non-Official Directors
▪ Nominated by Government: ten Directors from various fields and two government officials
▪ Others: four Directors - one each from four local boards

Function of Reserve Bank of India (RBI)

(1) Monetary Authority: -

The Central Government, in consultation with the RBI shall determine the inflation target in terms of the
Consumer Price Index, once in every five years, which needs to be notified in the Official Gazette16.
Similarly, it is the Central Government that should constitute a Monetary Policy Committee by notification
in the Official Gazette.

The Monetary Policy Committee shall consist of: -

(a) the Governor of the RBI;
(b) Deputy Governor of the RBI in charge of Monetary Policy;
(c) one officer of the RBI to be nominated by the Central Board; and
(d) three persons to be appointed by the Central Government.

The Monetary Policy Committee has been entrusted with the statutory duty to determine the Policy Rate
required to achieve the inflation target.

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• Formulates, implements and monitors the monetary policy.

• Objective: maintaining price stability while keeping in mind the objective of growth.

(2) Regulator and supervisor of the financial system: -

India has a variety of banks viz., banking companies (banks which are companies and regulated by the
Banking Regulation Act, 1949), State Bank of India (constituted by the State Bank of India Act, 1955),
Nationalised Banks (constituted by the Banking Companies (Acquisition and Transfer of Undertakings) Act,
1970/ 1980), Regional Rural Banks (constituted under the Regional Rural Banks Act, 1976) and co-
operative banks (constituted either under the Multi-State Co-operative Societies Act, 2002 or State Co-
operative Societies Acts).
Although RBI is entrusted with the task of regulating and supervising all types of banks in the country, the
powers exercisable by it towards different banks are not uniform. The power to regulate and supervise
banking companies has been provided by the provisions of the Banking Regulation Act, 1949 (BR Act,
1949) to the RBI.
• Objective: maintain public confidence in the system, protect depositors' interest and provide cost-
effective banking services to the public.

(3) Foreign Exchange Management: –

Legal Background The powers and responsibilities with respect to external trades and payments,
development and maintenance of foreign exchange market in India are conferred on the RBI under the
provisions of the Foreign Exchange Management Act, 1999 (‘FEMA").

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Section 10 of the FEMA

empowers the RBI to
authorize any person to
be known as authorized
person to deal in
foreign exchange or in
foreign securities, as an
authorized dealer,
money changer or off-
shore banking unit or in
any other manner as it
deems fit.

Section 13 of the
FEMA details out the
contraventions and
penalties, and the
RBI has been
empowered to
compound certain
contraventions
under Section 15 of
the FEMA.

• Similarly, it empowers the RBI to revoke an authorization issued to an authorized dealer in public interest,
or the authorized person has failed to comply with the conditions subject to which the authorization was
granted or has contravened any of the provisions of the FEMA or any rule, regulation, notification, direction
or order issued by the RBI.
• However, the revocation of an authorization may be done by the RBI after following the prescribed
procedure in the FEMA or the Regulations made there under.

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(4) Regulation and Supervision of NBFCs: –

Section 45-IA of the RBI Act mandates every non-banking financial company to obtain a
certificate of registration from the RBI and to have a net owned fund as may be specified by the
RBI in the Official Gazette, before commencing such non banking financial business.
Further, as a part of regulation and supervision of non-banks, the RBI has been conferred with the
statutory powers to regulate or prohibit issue of prospectus or advertisements soliciting deposits of money
by non-banking financial companies,31 power to determine policy and issue directions to non-banking
financial companies, etc.
• Further, the RBI has been empowered under Section 45-L of the RBI Act to call for information and issue
directions to non-banking financial companies for the reasons stated therein.
• As a part of the supervisory control over the non-banking financial companies, the RBI has the
power to inspect them under Section 45-N of the RBI Act, 1934.

(5) Regulation of Derivatives and Money Market Instruments: -

Chapter III-D was inserted in the RBI Act with effect from 9th January 2007 by way of an
amendment to the RBI Act, 1934. In the said chapter, the Parliament of India thought it as appropriate
to introduce provisions relating to regulation of transactions relating to derivatives, money market
instruments, securities, etc. by the RBI.
• Money market instruments have been defined to include call or notice money, term money, repo, reverse
repo, certificate of deposit, commercial usance bill, commercial paper and such other debt instrument of
original or initial maturity up to one year as the RBI may specify from time to time.

(6) Payment and Settlement Functions: –

The Parliament of India enacted the Payment and Settlement Systems Act, 2007 (‘PSS Act,
2007’) with an objective to provide for the regulation and supervision of payment systems in
India and to designate the Reserve Bank of India as the authority for that purpose and for
matters connected therewith or incidental thereto. Under Section 4 of the PSS Act, 2007, no person
shall commence or operate a payment system except with an authorization issued by the RBI.
• Similarly, under Section 8 of the PSS Act, 2007, RBI has the power to revoke the authorization
granted to any person if it contravenes any of the provisions of the PSS Act or does not comply with

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regulations or fails to comply with the orders or directions issued by the RBI or operates the payment
system contrary to the conditions subject to which the authorization was issued.
• The regulation and supervision of payment systems has been conferred on the RBI by virtue of
provisions of Chapter IV of the PSS Act, 2007.
• The regulatory and supervisory controls include power to determine standards for the functioning of
payment systems, power to call for returns, documents or other information, power to enter and inspect
payment systems, power to carry out audit and inspections, power to issue directions, etc.

(7) Consumer Protection and promotion Functions: -

Protection of the interests of the depositors is one of the vital mandates of the RBI. The various provisions
in the RBI Act, 1934, BR Act, 1949, etc., are replete with the phrases like “in the interests of depositors”
wherever it entrusts powers to the RBI. Apart from depositors, the resolution of grievances of customers
who deal with its regulated entities is also important for the Reserve Bank of India.
• Reserve Bank of India has formulated three Ombudsman Schemes for covering operations of banks,
NBFCs and payment systems.
• Reserve Bank of India attaches high importance to its promotional and developmental roles.
Clause (8AA) of section 17 of the RBI Act states that the promoting, establishing, supporting or aiding
in the promotion, establishment and support of any financial institution - whether as its subsidiary or
otherwise - is a business which can be transacted by the Reserve Bank.
Section 54 of that Act points to the developmental role of RBI in matters of rural development.
It provides that the Reserve Bank may maintain expert staff to study various aspects of rural credit and
development and in particular it may
(i) tender expert guidance and assistance to the National Bank; and
(ii) conduct special studies in such areas as it may consider necessary to do so for promoting integrated
rural development.

(8) Credit Information Companies Regulation Functions: -

Reserve Bank has been entrusted with the task of regulation and supervision of Credit Information
Companies under the Credit Information Companies (Regulation) Act, 2005.
• Three institutions form the essential pillars of the Act, viz. the Credit Information Companies, the Credit
Institutions and Specified Users.
• The Act empowers the Reserve Bank to issue directions to Credit Information Companies and also to
inspect them.
• The Reserve Bank is also authorised by the statute to determine policy in relation to functioning of credit
information companies.

Monetary Policy Framework

Monetary policy refers to the use of monetary instruments under the control of the central bank to
influence variables, such as interest rates, money supply and availability of credit, with a view to achieving
the objectives of the policy.
There are various direct and indirect instruments used for implementing monetary policy including Repo
Rate, Reverse Repo Rate, Marginal Standing Facility (MSF) under the Liquidity Adjustment Facility (LAF),
Bank Rate, Cash Reserve Ratio (CRR), , Open Market Operations (OMOs) and Market Stabilization Scheme
(MSS).
• The instruments of monetary policy used to control the money flow in the economy are of 2 types
broadly.

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A. Quantitative Instruments or General Tools: -

Quantitative Instuments or General Tools

Repo Rate

Reverse Repo Rate

Liquidity Adjustment
Facility

Marginal Standing Facility

Policy Corridor

Bank Rate

Case Reserve Ratio

Operation Market
Operation

Market Stablisation
Scheme
(1) Repo Rate:
The (fixed) interest rate at which the Reserve Bank provides overnight liquidity to banks against the
collateral of government and other approved securities under the LAF. It is the policy rate decided by the
Monetary Policy Committee (MPC).
(2) Reverse Repo Rate:
The (fixed) interest rate at which the Reserve Bank absorbs liquidity, on an overnight basis, from banks
against the collateral of eligible government securities under the LAF.
(3) Liquidity Adjustment Facility (LAF):
The LAF consists of overnight as well as term repo/reverse repo auctions. Progressively, the Reserve Bank
has increased the proportion of liquidity injected under variable rate repo auctions across the range of
tenors.

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• The aim of term-repo is to help develop the inter-bank term-money market, which in turn can set
market-based benchmarks for pricing of loans and deposits, and hence improve transmission of monetary
policy.
• The RBI also conducts variable rate repo/reverse-repo auctions, as necessitated by market conditions.
(4) Marginal Standing Facility (MSF):
A facility under which scheduled commercial banks can borrow additional amount of overnight money from
the Reserve Bank against their excess SLR securities and also by dipping into their SLR portfolio up to a
specified limit at a penal rate of interest. This provides a safety valve against unanticipated liquidity shocks
to the banking system.
(5) Policy Corridor:
The MSF rate as the ceiling and the Reverse Repo rate as the floor determines the policy corridor. The
objective of liquidity management operations is to keep the WACR closely aligned to the policy repo rate.
(6) Bank Rate:
It is the standard rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other
commercial papers. The Bank Rate is published under Section 49 of the Reserve Bank of India Act, 1934.
This rate has been aligned to the MSF rate and, therefore, changes automatically as and when the MSF rate
changes alongside policy repo rate changes.
(7) Cash Reserve Ratio (CRR):
The amount that a bank is required to maintain with the Reserve Bank as a specified proportion (per cent)
of its Net Demand and Time Liabilities (NDTL) for a fortnight starting from a Saturday till the next reporting
Friday.
• The proportion required to be maintained is notified by the Reserve Bank from time to time.
• The maintenance of CRR balances over a fortnight is on an average daily basis with a stipulated minimum
daily maintenance notified by the Reserve Bank.
(8) Open Market Operations (OMOs):
These include both repurchase (repo or reverse repo) operations and outright purchase and sale of
government securities, for injection and absorption of liquidity, respectively.
(9) Market Stabilisation Scheme (MSS):
This instrument for monetary management was introduced in 2004. Surplus liquidity of a more enduring
nature arising from large capital inflows is absorbed through sale of short-dated government securities and
treasury bills. Depending upon the nature of the surplus liquidity (long term/ short term) the securities
under MSS (long term dated securities/ short term CMBs) are issued. The cash so mobilised is held in a
separate government account with the Reserve Bank.

B. Qualitative Instruments or Selective Tools: -

These tools are not directed towards the quality or credit or the use of the credit. They are used to
discriminating between different uses of credit.
(1) Fixing Margin Requirements:
The margin refers to the “proportion of the loan amount which is not financed by the bank” A change in a
margin implies a change in the loan size. This method is used to encourage credit supply for the needy
sector and discourage it for other non-necessary sectors.
(2) Consumer Credit Regulations:
RBI can control money supply by changing down-payment and instalment rules.
(3) Selective Credit Control:
Under the RBI can specifically instruct banks not to give loans to traders of certain commodities.
(4) Credit Rationing:
Central Bank fixes credit amount to be granted. This can help in lowering banks credit exposure to
unwanted sectors.
(5) Moral Suasion:
It includes variety of informal methods used by the central bank to persuade commercial banks to behave
in a particular manner, There is no element of compulsion in it.
(6) Direct action:
This step is taken by the RBI against banks that don’t fulfil conditions and requirements . RBI may refuse
to rediscount their bills and securities.

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Important Banking Acts in India

(1) The Banking Regulation Act, 1949

The Banking Regulation Act, 1949 is a key legislative framework that governs banking operations in India.
Initially enacted as the Banking Companies Act, 1949, it was later renamed the Banking Regulation Act,
1949 and has been amended multiple times to accommodate changes in the banking sector.
• The Act applies to all banking companies in India, including Scheduled Commercial Banks (SCBs),
Cooperative Banks, Regional Rural Banks (RRBs), and Foreign Banks operating in India.
• It does not apply to Primary Agricultural Credit Societies and Cooperative Land Mortgage Banks.
• RBI is the regulatory authority responsible for enforcing the provisions of this Act.

Important sections of The Banking Regulations Act, 1949: -

Definition and Scope: -
Section 5(b): Definition of Banking
• Defines "banking" as accepting deposits from the public for lending or investment, repayable on demand
or otherwise.
Section 5(c): Definition of Banking Company
• A banking company is any company that engages in banking business.
Section 5(ne): Small Finance Banks & Payment Banks
• Recognizes small finance banks and payment banks under RBI regulation.
Licensing and Regulation: -
Section 7: Use of the Term “Bank”
• Prohibits any company from using the word "bank," "banker," or "banking" unless legally authorized.
Section 22: Licensing of Banks
• No company can engage in banking without obtaining a license from RBI.
• RBI has the power to grant, refuse, or cancel licenses.
Capital, Reserves, and Liquidity: -
Section 11: Minimum Capital Requirement
• Specifies the minimum paid-up capital that banks must maintain.
Section 18: Cash Reserve Ratio (CRR) for Non-Scheduled Banks
• Requires non-scheduled banks to maintain a Cash Reserve Ratio (CRR) with RBI.
Section 24: Statutory Liquidity Ratio (SLR)
• Mandates banks to maintain a certain percentage of their Net Demand and Time Liabilities (NDTL) in
liquid assets like gold and government securities.
Restrictions on Business and Management: -
Section 6: Permitted Banking Activities
• Banks are allowed to engage in loans, advances, foreign exchange, insurance, government securities, and
fund management.
• Banks cannot engage in trade, manufacture, or speculative activities.
Section 10: Restrictions on Employment of Managing Directors (MDs) and Chairmen
• Prevents banks from employing anyone as an MD or chairman who has been convicted of fraud or
mismanagement.
Section 20: Restrictions on Loans to Directors
• Banks cannot lend money to their directors or to any company in which a director has a substantial
interest.
RBI’s Power Over Banks: -
Section 21: Power of RBI to Control Advances
• RBI can issue directions to banks regarding interest rates and lending policies.
Section 35: RBI’s Power to Inspect Banks
• RBI has the authority to inspect the books of any bank to ensure compliance.
Section 36: Power of RBI to Take Action Against Banks
• RBI can issue directives, remove management, or impose penalties if a bank violates regulations.
Control Over Mergers, Liquidation, and Closure: -
Section 45: Moratorium and Reconstruction of Banks
• RBI can impose a moratorium on banks in financial distress.
• RBI can restructure, merge, or liquidate banks to prevent failures.
• Example: RBI imposed a moratorium on Yes Bank (2020) and initiated its revival plan.

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Section 44A: Voluntary Amalgamation of Banks

• Governs the mergers and acquisitions of banking companies.
Section 56: Application to Cooperative Banks
• Brought Cooperative Banks under RBI supervision through amendments.
Miscellaneous Provisions: -
Section 46: Penalties for Violations
• Imprisonment up to 3 years or fines for those violating the Act’s provisions.
Section 49A: Prohibition on Banking by Unauthorized Entities
• No company can carry out banking business unless registered under this Act.
Section 53: Power to Exempt Banks from Provisions
• The Central Government can exempt banks from certain provisions of the Act under special
circumstances.

2. Reserve Bank of India (RBI) Act, 1934: -

The Reserve Bank of India (RBI) Act, 1934 is a landmark legislation that laid the foundation for India's
monetary and financial system. Enacted by the British government, this Act led to the establishment of the
Reserve Bank of India (RBI) on April 1, 1935, as the country's central banking authority. Initially, the RBI
operated as a privately-owned institution, but it was nationalized in 1949, giving the Government of India
complete control over its operations.
• The Act defines the powers, functions, and responsibilities of RBI, making it the central institution for
regulating monetary policy, banking operations, currency issuance, financial stability, and foreign exchange
management.
• It also empowers RBI to act as a regulator and supervisor of commercial banks, non-banking financial
companies (NBFCs), and cooperative banks.

Some Important Sections of RBI Act 1934: -

• Section 3: Establishment of the Reserve Bank of India.
• Section 7: Government’s power to give directions to RBI.
• Section 17: RBI’s power to conduct banking business.
• Section 20: Management of public debt by RBI.
• Section 22: RBI’s exclusive right to issue currency notes in India.
• Section 24: Denominations of banknotes issued by RBI.
• Section 26: Legal tender status of banknotes and demonetization powers.
• Section 28: Withdrawal of currency notes from circulation.
• Section 38: RBI’s role in regulating money supply and controlling inflation.
• Section 40: RBI’s role in managing India’s foreign exchange.
• Section 42: Cash Reserve Ratio (CRR) requirement for scheduled banks.
• Section 45JA-JC: Regulation and supervision of NBFCs.
• Section 45L: RBI’s power to issue directives to financial institutions.
• Section 45R-T: Regulation of credit information companies.
• Section 35A: RBI’s power to issue directions to banks.
• Section 45Y: RBI’s authority to collect credit information.
• Section 47: Power to make regulations for banking operations.
• Section 49: Reserve Bank’s power to regulate interest rates.
• Section 58: Power of RBI to make rules for carrying out the purposes of this Act.
• Section 17: RBI’s Power to Conduct Banking Business.
• Section 20: Management of Public Debt.
• Section 22: Right to Issue Banknotes.
• Section 24: Denominations of Banknotes.
• Section 26: Legal Tender Status.
• Section 42: Cash Reserve Ratio (CRR).
• Section 45JA-JC: Regulation of NBFCs.
• Section 45L: Power to Issue Directions to Financial Institutions.
• Section 45R-T: Credit Information Companies Regulation.
• Section 40: RBI’s Role in Foreign Exchange Management.
• Section 38: RBI’s Role in Controlling Inflation and Deflation.
• Section 35A: Power to Issue Directions to Banks.

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• Section 45Y: Power to Collect Credit Information.

• Section 47: Power to Make Regulations.

3. Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881 is a key legislation in India that governs negotiable instruments such
as cheques, promissory notes, and bills of exchange. It defines the rights, liabilities, and duties of parties
involved in these financial instruments, ensuring their smooth functioning in business transactions.
• Negotiable Instrument (Section 13): A document guaranteeing the payment of a specific amount of
money, transferable by endorsement and delivery.
• Promissory Note (Section 4): A written promise to pay a specified sum of money to a person at a fixed
time.
• Bill of Exchange (Section 5): A written order by one party to another to pay a fixed sum on demand or
at a future date.
• Cheque (Section 6): A bill of exchange drawn on a bank payable on demand.
• Holder (Section 8): The person in possession of the negotiable instrument.
• Holder in Due Course (Section 9): A person who acquires a negotiable instrument for consideration in
good faith.
• Endorsement (Section 15): The act of signing a negotiable instrument for transfer.
Rules for Negotiable Instruments
• Section 20: Instruments may be completed with an incomplete amount (Inchoate Instrument).
• Section 31: Liability of the drawee (bank) in case of refusal to honor cheques.
• Section 37: Liability of the drawer, acceptor, and endorser.
• Section 85: Protection of bankers while paying crossed cheques in good faith.
Dishonor of Cheques and Legal Consequences
• Section 138: Punishment for dishonor of cheques due to insufficient funds.
• Section 139: Presumption in favor of the holder.
• Section 140: Drawer cannot defend dishonor cases due to lack of funds.
• Section 142: Court jurisdiction for cheque dishonor cases.
• Section 143A: Power to grant interim compensation.
• Section 147: Compounding of cheque bounce cases.
Endorsements and Transferability
• Section 48: Transfer of negotiable instruments by endorsement and delivery.
• Section 50: Effect of endorsements.
• Section 85 & 130: Protection for bankers dealing with negotiable instruments.

4. Companies Act, 2013 (Replaced the Companies Act, 1956)

The Companies Act, 2013 is the principal legislation governing company incorporation, functioning,
compliance, and corporate governance in India. It replaced the Companies Act, 1956 and introduced
modern corporate practices to enhance transparency and accountability.
The Act classifies companies into different types based on ownership, liability, and public interest:
• Private Company: Minimum 2 and maximum 200 members. Shares are not publicly traded.
• Public Company: Minimum 7 members; no maximum limit. Shares are publicly traded.
• One Person Company (OPC): A company with a single shareholder and director.
• Limited Liability Partnership (LLP): A partnership with limited liability features.
Minimum Number of Directors:
• Public company: At least 3 directors.
• Private company: At least 2 directors.
• OPC: At least 1 director.
Independent Directors: Listed companies must appoint independent directors to ensure transparency.
Board Committees:
• Audit Committee: Reviews financial statements and compliance.
• Nomination & Remuneration Committee: Oversees director and executive compensation.

5. Payment and Settlement Systems Act, 2007

An Act to provide for the regulation and supervision of payment systems in India and to designate the
Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental
thereto.

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• In India, the payment and settlement systems are regulated by the Payment and Settlement Systems
Act, 2007 (PSS Act) which was legislated in December 2007. The PSS Act as well as the Payment and
Settlement System Regulations, 2008 framed thereunder came into effect from August 12, 2008.
• In terms of Section 4 of the PSS Act, no person other than the Reserve Bank of India (RBI) can
commence or operate a payment system in India unless authorised by RBI. Reserve Bank has since
authorised payment system operators of pre-paid payment instruments, card schemes, cross-border in-
bound money transfers, Automated Teller Machine (ATM) networks and centralised clearing arrangements

Payment Systems: -
• The Reserve Bank has taken many initiatives towards introducing and upgrading safe and efficient modes
of payment systems in the country to meet the requirements of the public at large.
• The dominant features of large geographic spread of the country and the vast network of branches of the
Indian banking system require the logistics of collection and delivery of paper instruments.
• These aspects of the banking structure in the country have always been kept in mind while developing the
payment systems.
Paper-based Payments
• Use of paper-based instruments (like cheques, drafts, and the like) accounts for nearly 60% of the
volume of total non-cash transactions in the country. In value terms, the share is presently around 11%.
• Since paper based payments occupy an important place in the country, Reserve Bank had introduced
Magnetic Ink Character Recognition (MICR) technology for speeding up and bringing in efficiency in
processing of cheques.
• Later, a separate High Value Clearing was introduced for clearing cheques of value Rupees one lakh and
above. This clearing was available at select large centres in the country (since discontinued).
• Recent developments in paper-based instruments include launch of Speed Clearing (for local clearance of
outstation cheques drawn on core-banking enabled branches of banks), introduction of cheque truncation
system (to restrict physical movement of cheques and enable use of images for payment processing),
framing CTS-2010 Standards (for enhancing the security features on cheque forms) and the like.
• While the overall thrust is to reduce the use of paper for transactions, given the fact that it would take
some time to completely move to the electronic mode, the intention is to reduce the movement of paper –
both for local and outstation clearance of cheques.
Electronic Payments
• The initiatives taken by RBI in the mid-eighties and early-nineties focused on technology-based solutions
for the improvement of the payment and settlement system infrastructure, coupled with the introduction of
new payment products by taking advantage of the technological advancements in banks.
Electronic Clearing Service (ECS) Credit
• The Bank introduced the ECS (Credit) scheme during the 1990s to handle bulk and repetitive payment
requirements (like salary, interest, dividend payments) of corporates and other institutions. ECS (Credit)
facilitates customer accounts to be credited on the specified value date and is presently available at all
major cities in the country.
• During September 2008, the Bank launched a new service known as National Electronic Clearing Service
(NECS), at National Clearing Cell (NCC), Mumbai. NECS (Credit) facilitates multiple credits to beneficiary
accounts with destination branches across the country against a single debit of the account of the sponsor
bank.
• The system has a pan-India characteristic and leverages on Core Banking Solutions (CBS) of member
banks, facilitating all CBS bank branches to participate in the system, irrespective of their location across
the country.
Regional ECS (RECS)
• Next to NECS, RECS has been launched during the year 2009. RECS, a miniature of the NECS is
confined to the bank branches within the jurisdiction of a Regional office of RBI.
• Under the system, the sponsor bank will upload the validated data through the Secured Web Server of
RBI containing credit/debit instructions to the customers of CBS enabled bank branches spread across the
Jurisdiction of the Regional office of RBI.
• The RECS centre will process the data, arrive at the settlement, generate destination bank wise
data/reports and make available the data/reports through secured web-server to facilitate the destination
bank branches to afford credit/debit to the accounts of beneficiaries by leveraging the CBS technology put
in place by the bank. Presently RECS is available in Ahmedabad, Bengaluru, Chennai and Kolkata.
Electronic Clearing Service (ECS) Debit

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• The ECS (Debit) Scheme was introduced by RBI to provide a faster method of effecting periodic and
repetitive collections of utility companies. ECS (Debit) facilitates consumers / subscribers of utility
companies to make routine and repetitive payments by ‘mandating’ bank branches to debit their accounts
and pass on the money to the companies.
• This tremendously minimises use of paper instruments apart from improving process efficiency and
customer satisfaction.
• There is no limit as to the minimum or maximum amount of payment.
Electronic Funds Transfer (EFT)
• This retail funds transfer system introduced in the late 1990s enabled an account holder of a bank to
electronically transfer funds to another account holder with any other participating bank.
• Available across 15 major centers in the country, this system is no longer available for use by the general
public, for whose benefit a feature-rich and more efficient system is now in place, which is the National
Electronic Funds Transfer (NEFT) system.
National Electronic Funds Transfer (NEFT) System
• In November 2005, a more secure system was introduced for facilitating one-to-one funds
transfer requirements of individuals / corporates. Available across a longer time window, the NEFT
system provides for batch settlements at hourly intervals, thus enabling near real-time transfer of funds.
• Certain other unique features viz. accepting cash for originating transactions, initiating transfer requests
without any minimum or maximum amount limitations, facilitating one-way transfers to Nepal, receiving
confirmation of the date / time of credit to the account of the beneficiaries, etc., are available in the
system.
Real Time Gross Settlement (RTGS)System
• RTGS is a funds transfer systems where transfer of money takes place from one bank to
another on a "real time" and on "gross" basis. Settlement in "real time" means payment transaction
is not subjected to any waiting period.
• "Gross settlement" means the transaction is settled on one to one basis without bunching or netting with
any other transaction. Once processed, payments are final and irrevocable.
• This was introduced in in 2004 and settles all inter-bank payments and customer transactions
above Rs. 2 lakh.
Clearing Corporation of India Limited (CCIL)
CCIL was set up in April 2001 by banks, financial institutions and primary dealers, to function as an
industry service organisation for clearing and settlement of trades in money market, government securities
and foreign exchange markets.
• The Clearing Corporation plays the crucial role of a Central Counter Party (CCP) in the government
securities, USD –INR forex exchange (both spot and forward segments) and Collaterised Borrowing and
Lending Obligation (CBLO) markets.
• CCIL plays the role of a central counterparty whereby, the contract between buyer and seller gets
replaced by two new contracts - between CCIL and each of the two parties. This process is known as
‘Novation’.
• Through novation, the counterparty credit risk between the buyer and seller is eliminated with CCIL
subsuming all counterparty and credit risks. In order to minimize the these risks, that it exposes itself to,
CCIL follows specific risk management practices which are as per international best practices.
• In addition to the guaranteed settlement, CCIL also provides non guaranteed settlement services for
National Financial Switch (Inter bank ATM transactions) and for rupee derivatives such as Interest Rate
Swaps.
• CCIL is also providing a reporting platform and acts as a repository for Over the Counter (OTC) products.
Other Payment Systems
1. Pre-paid Payment Systems
Pre-paid instruments are payment instruments that facilitate purchase of goods and services against the
value stored on these instruments. The value stored on such instruments represents the value paid for by
the holders by cash, by debit to a bank account, or by credit card.
• The pre-paid payment instruments can be issued in the form of smart cards, magnetic stripe cards,
internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers, etc.
• Subsequent to the notification of the PSS Act, policy guidelines for issuance and operation of prepaid
instruments in India were issued in the public interest to regulate the issue of prepaid payment
instruments in the country.

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• The use of pre-paid payment instruments for cross border transactions has not been permitted, except for
the payment instruments approved under Foreign Exchange Management Act,1999 (FEMA).
2. Mobile Banking System
Mobile phones as a medium for providing banking services have been attaining increased importance.
Reserve Bank brought out a set of operating guidelines on mobile banking for banks in October 2008,
according to which only banks which are licensed and supervised in India and have a physical presence in
India are permitted to offer mobile banking after obtaining necessary permission from Reserve Bank.
• The guidelines focus on systems for security and inter-bank transfer arrangements through Reserve
Bank's authorized systems.
3. ATMs / Point of Sale (POS) Terminals / Online Transactions
Presently, there are over 61,000 ATMs in India. Savings Bank customers can withdraw cash from any
bank terminal up to 5 times in a month without being charged for the same. To address the customer
service issues arising out of failed ATM transactions where the customer's account gets debited without
actual disbursal of cash, the Reserve Bank has mandated re-crediting of such failed transactions within 12
working day and mandated compensation for delays beyond the stipulated period.
• Furthermore, a standardised template has been prescribed for displaying at all ATM locations to facilitate
lodging of complaints by customers.
• There are over five lakh POS terminals in the country, which enable customers to make payments for
purchases of goods and services by means of credit/debit cards.
• To facilitate customer convenience the Bank has also permitted cash withdrawal using debit cards issued
by the banks at PoS terminals.
• The PoS for accepting card payments also include online payment gateways. This facility is used for
enabling online payments for goods and services. The online payment are enabled through own payment
gateways or third party service providers called intermediaries.
• In payment transactions involving intermediaries, these intermediaries act as the initial recipient of
payments and distribute the payment to merchants. In such transactions, the customers are exposed to
the uncertainty of payment as most merchants treat the payments as final on receipt from the
intermediaries.
• In this regard safeguard the interests of customers and to ensure that the payments made by them using
Electronic/Online Payment modes are duly accounted for by intermediaries receiving such payments,
directions were issued in November 2009.
• Directions require that the funds received from customers for such transactions need to be maintained in
an internal account of a bank and the intermediary should not have access to the same.
• Further, to reduce the risks arising out of the use of credit/debit cards over internet/IVR (technically
referred to as card not present (CNP) transactions), Reserve Bank mandated that all CNP transactions
should be additionally authenticated based on information not available on the card and an online alert
should be sent to the cardholders for such transactions.
National Payments Corporation of India
• The Reserve Bank encouraged the setting up of National Payments Corporation of India (NPCI) to act as
an umbrella organisation for operating various Retail Payment Systems (RPS) in India. NPCI became
functional in early 2009.

6. Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest

(SARFAESI) Act, 2002
[An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest
and to provide for a Central database of security interests created on property rights, and for matters
connected therewith or incidental thereto.
SARFAESI Act, 2002 is the acronym for Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002.
SARFAESI Act, 2002: Overview: -
The SARFAESI Act, 2002 is an Indian law that permits banks and other financial institutions to efficiently
recover outstanding debts. It empowers banks and other financial institutions to auction off residential or
commercial properties in an effort to recoup loan balances. This act established the first asset
reconstruction corporation in India (ARCIL).
• The SARFAESI Act of 2002 allows the secured creditors to address the issue of non-performing assets
(NPAs) in a variety of ways. This, however, only applies to secured loans.
• For unsecured loans, the bank may file a civil case for loan default in court.

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• Banks or financial institutions can enforce their security interests in the way that is the most beneficial for
them like seizing collateral (except agricultural land), mortgaging, etc.
• In the case of secured loans, this act eliminates the need for court action.
The Act permits banks and financial institutions to sell nonperforming assets to asset reconstruction
companies (ARCs) regulated by the Reserve Bank of India. In a nutshell, The SARFAESI Act aimed to
address the issue of bad assets or NPAs (Non-Performing Assets) through various processes and
techniques.
It only applies to secured loans in which the bank can recover the underlying assets, such as
hypothecation, guarantee, and mortgages. Court involvement is not required in these situations, with the
exception of cases where the security is faulty or fraudulent. But, if the security is an unsecured asset, the
bank needs to file a legal case in court against the defaulters.
SARFAESI Act, 2002
• The Act establishes the legal foundation for securitization in India.
• It outlines the processes for transferring NPAs to ARCs (Asset Reconstruction Companies) for the purpose
of asset reconstruction.
• The Act enables the banks and financial institutes to enforce their security interest without the
intervention of the court.
• It grants them the authority to seize immovable property that has been hypothecated or billed in order to
recover the debt.
SARFAESI Act, 2002: Method of Working
The primary characteristic of SARFAESI is that it encourages the formation of asset reconstruction
companies (ARCs) and asset securitization companies (ASCs) to manage NPAs collected by financial
institutions and banks. The Act provides three major powers to financial institutions and banks for the
asset management and recovering non-performing assets:
• Securitization of assets
• Reconstruction of assets
• Enforcement of security interests (meaning asset security interests) without the court's intervention
Securitization: -
Securitization is the process of converting existing illiquid assets (loans) into marketable securities in the
setting of poor asset management. The securitization company assumes custody of the loan applicant's
underlying mortgaged assets. It can initiate the subsequent actions:
• Purchasing financial assets from the loan provider (bank), and
• The solicitation of funds from authorized institutional buyers through the issuance of security receipts for
acquiring the financial assets, or
• Fundraising in any authorized manner, and
• The acquisition of a financial asset may be paired with the repossession of mortgaged property,
structures, etc.
Amendment to the SARFAESI Act, 2002 in 2016: -
The government modified the SARFAESI Act in August 2016 to enable Asset Reconstruction Companies
(ARCs) to revive Debt Recovery Tribunals (DRTs), and to improve the efficacy of asset reconstruction as per
the new bankruptcy law.
• The amendment expanded the RBI's regulatory authority over the operation of ARCs. It also facilitated
the reconstruction of assets and the operation of DRTs within the context of the recently passed bankruptcy
law.
• RBI will obtain additional auditing and inspection authority over ARCs, as well as the authority to dismiss
any director or the chairman.
• It can designate officials of the central bank to the ARCs boards if needed.
• According to the modification, the registration that includes the centralized database of all loans secured
against properties by the lenders was expanded to incorporate additional details.
• RBI will have the authority to impose fines on ARCs that do not comply with central bank directives.
Likewise, it can control the fees that ARCs charge banks when dealing with nonperforming loans. The fine
has been enhanced from Rs 500,000 to Rs 1,000,000.
• Concerning DRTs, the amendment seeks to expedite DRT proceedings.
• The initiation of online processes, including the electronic filing of recovery petitions, documents, and
written statements are also added in the Act.
• The modification included hire purchase and financial leasing within the scope of the SARFAESI Act.

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These Act amendments are significant because they will give DRTs a key role under the new bankruptcy
law. DRTs will act as the bankruptcy law's backbone, handling all individual insolvency proceedings. Before
filing an appeal with a DRT, a debtor must deposit 50% of the amount owed.
SARFAESI Act, 2002: Borrowers' Rights
The SARFAESI Act provides appropriate methods for secured lenders to retrieve their long-standing debts
from nonperforming assets, but the law also gives borrowers certain rights that cannot be overlooked.
• The borrowers may pay up the debt and avoid losing the collateral at any time prior to the conclusion of
the sale.
• If the Authorized Officer engages in any harmful or unlawful behaviour, he will face legal consequences,
and the borrowers will be compensated for their actions.
• Borrowers can first appeal to the DRT and then to the DRAT for the resolution of any complaints. The
deadlines for filing an appeal are 45 and 30 days, respectively.
SARFAESI Act, 2002: Prerequisites
The Act establishes four pre-requisites for a creditor to enforce their rights.
• The debt is guaranteed
• The banks have classified the debt as non-performing.
• The outstanding balance exceeds one million rupees and exceeds twenty per cent of the loan's principal
and interest.
• The agricultural land is not as the security.
SARFAESI Act applies to any movable or immovable asset pledged as collateral via hypothecation,
mortgage, or the formation of a security interest. While Personal belongings are an exception to the act. If
the property pledged as security is the borrower's own mortgaged primary residence, it may be pursued
under the terms of the SARFAESI Act.
7. Foreign Exchange Management Act (FEMA), 1999
The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for
earlier Foreign Exchange Regulation Act (FERA). FEMA came into act on the 1st day of June, 2000.
• The main objective behind the Foreign Exchange Management Act (1999) is to consolidate and amend the
law relating to foreign exchange with objective of facilitating external trade and payments and for
promoting the orderly development and maintenance of foreign exchange market in India.
• FEMA is applicable to the all parts of India. The act is also applicable to all branches, offices and agencies
outside India owned or controlled by a person who is resident of India.

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Applicability of FEMA
The Foreign Exchange Management Act applies to a wide range of foreign exchange transactions and
entities involved in them. Here are its key aspects:
• Foreign exchange
• Foreign security
• Export of any commodity or service from India to a country outside India
• Import of any commodity and/or services from outside India
• Securities under Public Debt Act 1994
• Purchase, sale and exchange
• Banking, financial and insurance services
• Any overseas company owned by an NRI (Non-Resident Indian) and the owner is 60% or more
• Any citizen of India, residing in the country or outside (NRI)

Key Categories of Dealers under FEMA

Category of Dealer Activities Permitted

1. Banks or financial institutions authorized to deal in foreign exchange

for the public.
Authorized Dealers 2. Engage in the buying and selling of foreign currencies, facilitating
(ADs) international trade, and remittances.
3. Offer services for foreign investments, including foreign direct
investments (FDI) and portfolio investments.

1. Entities or individuals authorized by RBI to engage in retail foreign

Authorized Money exchange transactions, including currency exchange.
Changers (AMCs) 2. Handle small-scale transactions like buying and selling foreign
currency for tourists and businesses.

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1. Authorized to buy and sell foreign currency, both in cash and for
Full-Fledged Money remittance purposes.
Changers (FFMCs) 2. Deal with larger volume transactions compared to AMCs, focusing on
both inbound and outbound currency exchanges.

Certain entities may be exempted from specific restrictions under FEMA,

Exempted Dealers
based on their nature of business or size.

Other Authorized Individuals/entities allowed to engage in specialized foreign exchange

Persons (OAPs) transactions like remittance services and foreign securities trading.

8. Regional Rural Banks (RRB) Act, 1976

The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the
Ordinance promulgated on 26th September, 1975 and Regional Rural Banks Act, 1976 with a
view to developing the rural economy by providing, for the purpose of development of agriculture, trade,
commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly
to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters
connected therewith and incidental thereto.
List of Regional Rural Banks functioning in the country: -
Name of Regional Rural Bank Sponsor Bank State
Andhra Pragathi Grameena Bank Canara Bank Andhra Pradesh
Chaitanya Godavari Grameena Bank Union Bank of India Andhra Pradesh
Saptagiri Grameena Bank Indian Bank Andhra Pradesh
Arunachal Pradesh Rural Bank State Bank of India Arunachal Pradesh
Assam Gramin Vikash Bank Punjab National Bank Assam
Dakshin Bihar Gramin Bank Punjab National Bank Bihar
Uttar Bihar Gramin Bank Central Bank of India Bihar
Chhattisgarh Rajya Gramin Bank State Bank of India Chhattisgarh
Baroda Gujarat Gramin Bank Bank of Baroda Gujarat
Saurashtra Gramin Bank State Bank of India Gujarat
Sarva Haryana Gramin Bank Punjab National Bank Haryana
Himachal Pradesh Gramin Bank Punjab National Bank Himachal Pradesh
Ellaquai Dehati Bank State Bank of India Jammu & Kashmir
J&K Grameen Bank J&K Bank Ltd. Jammu & Kashmir
Jharkhand Rajya Gramin Bank State Bank of India Jharkhand
Karnataka Gramin Bank Canara Bank Karnataka
Karnataka Vikas Grameena Bank Canara Bank Karnataka
Kerala Gramin Bank Canara Bank Kerala
Madhya Pradesh Gramin Bank Bank of India Madhya Pradesh
Madhyanchal Gramin Bank State Bank of India Madhya Pradesh
Maharashtra Gramin Bank Bank of Maharashtra Maharashtra
Vidharbha Konkan Gramin Bank Bank of India Maharashtra
Manipur Rural Bank Punjab National Bank Manipur
Meghalaya Rural Bank State Bank of India Meghalaya
Mizoram Rural Bank State Bank of India Mizoram
Nagaland Rural Bank State Bank of India Nagaland
Odisha Gramya Bank Indian Overseas Bank Odisha
Utkal Grameen Bank State Bank of India Odisha
Puduvai Bharthiar Grama Bank Indian Bank Puducherry
Punjab Gramin Bank Punjab National Bank Punjab
Baroda Rajasthan Kshetriya Gramin Bank Bank of Baroda Rajasthan
Rajasthan Marudhara Gramin Bank State Bank of India Rajasthan
Tamil Nadu Grama Bank Indian Bank Tamil Nadu
Andhra Pradesh Grameena Vikas Bank State Bank of India Telangana

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Name of Regional Rural Bank Sponsor Bank State

Telangana Grameena Bank State Bank of India Telangana
Tripura Gramin Bank Punjab National Bank Tripura
Aryavart Bank Bank of India Uttar Pradesh
Baroda UP Bank Bank of Baroda Uttar Pradesh
Prathama UP Gramin Bank Punjab National Bank Uttar Pradesh
Uttarakhand Gramin Bank State Bank of India Uttarakhand
Bangiya Gramin Vikash Bank Punjab National Bank West Bengal
Paschim Banga Gramin Bank UCO Bank West Bengal
Uttar Banga Kshetriya Gramin Bank Central Bank of India West Bengal

Banking Abbreviations
ADB Asian Development Bank
ADR American Depository Receipt
AIRCSC All India Rural Credit Survey Committee
ARIMA Auto-regressive Integrated Moving Average
ASSOCHAM Associated Chambers of Commerce and Industry in India
BSCS Basel Committee on Banking Supervision
CAD Capital Account Deficit
CAG Controller &Author General of India
CDBS Committee of Direction on Banking Statistics
CFRA Combined Finance and Revenue Accounts
CGRA Currency and Gold Revaluation Account
CII Confederation of Indian Industries
CPI Consumer Price Index
CRAR Capital to Risk Weighted Asset Ratio
CSO Central Statistical Organisation
DBOD Department of Banking Operation and Development
DBS Department of Banking Supervision, RBI
DICGC Deposit Insurance & Credit Guarantee Corporation of India
ECB External Commercial Borrowing
EPF Employees Provident Fund
EXIM Bank Export Import Bank of India
FCA Foreign Currency Assets
FCNRD Foreign Currency Non-Repatriable Deposit
FEMA Foreign Exchange Management Act
FCCB Foreign Currency Convertible Bond
FDI Foreign Direct Investment
FICCI Foreign of Indian Chambers of Commerce and Industry
FII Foreign Institutional Investor
FIMMDA Fixed Income Money Market & Derivatives Association
FPI Foreign Portfolio Investment
FRA Forward Rate Agreement
FRBM Fiscal Responsibility and Budget Management Act, 2013
FRR Floating Rate Note
GDP Gross Domestic Product
GFD Gorss Fiscal Deficit
HDFC Housing Development Finance Corporation
HUDCO Housing & Urban Development Corporation
IBRD International Bank of Agriculture Research
ICAR Indian Council of Agricultural Research
ICICI Industrial Credit and Investment Corporation of India
IDB Indian Development Bonds
IDBI Industrial Development Bank of India
IFAD International Fund for Agricultural Development

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IFC International Finance Corporation

IFCI Industrial Finance Corporation of India
IRBI Industrial Reconstruction Bank of India
ISO International Standards Organisation
IRTS International Transaction Reporting System
KVIC Khadi & Village Industries Corporation
LAF Liquidity Adjustment Facility
LBD Land Development Bank
LBS Locational Banking Statistics
LERMS Liberalized Exchange Rate Management System
NABARD National Bank for Agricultural and Rural Development
NBC Non Banking Companies
NBFC Non-Banking Financial Companies
NEER Nominal Effective Exchange Rate
NHB National Housing Bank
NPA Non Performing Assets
NPV Net Present Value
OECD Organisation for Economic Cooperation and Development
OLTAS Online Tax Accounting Commercial Bank
OSCB Other Indian Scheduled Commercial Bank
PACS Primary Agricultural Credit Societies
PCARBD Primary Cooperative Agricultural & Rural Development Bank
PDAI Primary Dealers Association of India
PDO Public Debt Office
PES Public Enterprises Survey
PF Provident Fund
PNS Punjab National Bank
PRB Primary Revenue Balance
PSE Public Sector Enterprises
QRR Quick Review Report
RBI Reserve Bank of India
REER Real Effective Exchange Rate
RFC Resident Foreign Currency
RIB Resurgent India Bonds
RNBC Residuary Non-Banking Companies
RRB Regional Rural Bank
RTP Reserve Tranche Position
RWA Risk Weighted Asset
SBI State Bank of India
SCB State Cooperative Bank
SCB Scheduled Commercial Bank
SEBI Securities and Exchange Board of India
SFC State Financial Corporation
SIDBI Small Industries Development Bank of India
SIDC State Industrial Development Bank of India
SLR Statutory Liquidity Ratio
SSI Small Scale Industries
SWG Secondary Working Group on Money Supply
TB Treasury Bill
UBB Urban Banks Department
UCB Urban Cooperative Bank
UCN Uniform Code Number
UTI Unit Trust of India
VC Venture Capital
WPI Price Index

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YTM Yield of Maturity

Banking Related Schemes

(1) Senior Citizens Savings Scheme (SCSS)
SCSS is primarily for senior citizens of India that offers regular income and is a risk-free tax saving
investment.

The eligibility for SCSS:

• Senior citizen of India aged 60 years or above.
• Retirees who have opted for the Voluntary Retirement Scheme (VRS) or Superannuation with the age
between 55-60.
• Retired defence personnel with a minimum age of 50 years.
• HUFs and NRIs are not allowed to invest in this scheme.

How to Invest?
• A senior citizen can invest in this scheme by opening either an individual or a joint (along with the
spouse) account with a post office or a scheduled commercial bank.
• How much can one invest?
• The amount invested in the scheme cannot exceed the money that has been received on retirement.
Hence, the individual can invest either Rs 15 lakhs or the amount received as a retirement benefit
whichever is lower. The account can be opened by cash for an amount below Rs 1 lakh and by cheque for
an amount above Rs 1 lakh.

(2) Reverse Mortgage Loan System

A reverse mortgage enables a senior citizen to receive a regular stream of income from a lender (a bank or
a financial institution) against the mortgage of his home. The borrower (i.e. the individual pledging the
property), continues to reside in the property till the end of his life and receives a periodic payment on it. It
is opposite of conventional home loan.
• It was introduced in 2007.

Eligibility
• Individuals owning residential house or flat and who is a resident of India and above the ages of 60 can
avail this loan.
• The residential house must be in his/her name or jointly with his/her spouse.
• If the loan is in joint account, then one of the spouse must be 60 years and above and the other must be
at least 58 years.
• Minimum Rs. 3 lakhs & Maximum Rs. 1 crore can be availed.

(3) Gold Monetisation Scheme, 2015

It is a scheme that facilitates the depositors of gold to earn interest on their metal accounts. Once the gold
is deposited in metal account, it will start earning interest on the same.
• This scheme has replaced the existing Gold Deposit Scheme, 1999. However, the deposits
outstanding under the Gold Deposit Scheme and Gold Metal Loan Schemes is allowed to run till maturity
unless these are withdrawn by the depositors prematurely as per existing instructions.
• The minimum quantity of deposits is 30 grams. The gold can be in any form, bullion or jewellery.
There is no maximum limit.

There are 3 term deposit plans available under the Gold Monetisation Scheme:
• Short term: 1 to 3 years
• Medium term: 5 to 7 years
• Long term: 12 to 15 years

(4) Sovereign Gold Bond Scheme

SGBs are government securities denominated in grams of gold. They are substitutes for holding physical
gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
The Bond is issued by Reserve Bank on behalf of Government of India.

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• Persons resident in India as defined under Foreign Exchange Management Act, 1999 are
eligible to invest in SGB.
• Eligible investors include individuals, HUFs (Hindu Undivided Families), trusts, universities and charitable
institutions.
• The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum
investment in the Bond shall be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg
for HUF and 20 kg for trusts and similar entities notified by the government from time to time per fiscal
year (April - March). In case of joint holding, the limit applies to the first applicant.

(5) Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS)

PMGKDS 2016 is a scheme notified by the Government of India on December 16, 2016 with the objective
of addressing poverty. The PMGKY has been made a part of the Taxation Laws (Second Amendment) Act,
2016.
• As per the revised amendment of the Income Tax Bill, individuals who declared their undisclosed income
(black money), they will be required to pay a penalty of 10%, tax at the rate of 30%, CESS under the
PMGKY at the rate of 33%.
• Additionally, 25% of their undisclosed income will be invested in the PMGKDS Yojana scheme which will
be refunded only after 4 years without accumulating any interest.

(6) Remittances (Money Transfer Service Scheme (MTSS) and Rupee Drawing Arrangement
(RDA)
Remittances are an important source of family and national income and also are one of the largest sources
of external financing.
Beneficiaries in India can receive cross-border inward remittances through banking and postal channels.
• There are two channels for receiving inward remittances, besides the International Financial
System (IFS) platform of Universal Post Union (which is used for the postal channel) those are-
Rupee Drawing Arrangement (RDA) and Money Transfer Service Scheme (MTSS) which are the
most common arrangements under which the remittances are received into the country.
• RDA is a channel to receive cross-border remittances from overseas jurisdictions.
• Under this arrangement, the Authorised Category I banks enter into tie-ups with the non-resident
Exchange Houses in the FATF compliant countries to open and maintain their Vostro Account.
• There is no limit on the remittance amount as well as on the number of remittances. However, there is
an upper cap of Rs.15.00 lakh for trade related transactions.

Money Transfer Service Scheme (MTSS) is a way of transferring personal remittances from abroad to
beneficiaries in India.
Only inward personal remittances into India such as remittances towards family maintenance and
remittances favouring foreign tourists visiting India are permissible.
• Under the scheme there is a tie-up between reputed money transfer companies abroad known as
Overseas Principals and agents in India known as Indian Agents who would disburse funds to beneficiaries
in India at ongoing exchange rates.

(7) Liberalised remittance scheme

Under LRS, all resident individuals can freely remit $250,000 overseas every financial year for a
permissible set of current or capital account transactions.
Remittances are permitted for overseas education, travel, medical treatment and purchase of shares and
property, apart from maintenance of relatives living abroad, gifting and donations.
• Individuals can also open, maintain and hold foreign currency accounts with overseas banks for carrying
out transactions.
• However, the rules do not allow remittances for trading on the foreign exchange markets, margin or
margin calls to overseas exchanges and counterparties and the purchase of Foreign Currency Convertible
Bonds issued by Indian companies abroad.
• As per recent RBI notification in 2018, a daily reporting system has been put in place. To
improve monitoring and also to ensure compliance with the LRS limits, it has been decided to put in place a
daily reporting system by AD banks of transactions undertaken by individuals under LRS, which will be
accessible to all the other ADs.

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(8) Indo-Nepal Remittance Facility Scheme: -

It is a cross-border remittance scheme to transfer funds from India to Nepal, enabled under the NEFT
Scheme. The scheme was launched to provide a safe and cost-efficient avenue to migrant Nepalese
workers in India to remit money back to their families in Nepal.
• A remitter can transfer funds up to Indian Rupees 50,000 (maximum permissible amount)
from any of the NEFT-enabled in India. The beneficiary would receive funds in Nepalese Ruppes.

Money and Types of Money

Money is anything of value that serves as a
(1) generally accepted medium of financial exchange,
(2) legal tender for repayment of debt,
(3) standard of value,
(4) unit of accounting measure, and
(5) means to save or store purchasing power
Exchange of commodities without the mediation of money is called Barter Exchange. It suffers from lack of
double coincidence of wants.

Types of Money
(1) Commodity Money
• It is money that would have value even if it were not being used as money. This is usually referred to as
having intrinsic value. 'Intrinsic value' means it has value outside of its use as money. Gold, silver, grains,
livestock, salt, and other materials have served as commodity money at different points in history.
(2) Representative money
• It is paper currency that can be exchanged for a fixed amount of a valuable commodity, usually gold or
silver. Paper currency is convenient because it weighs little and much larger denominations can be printed
that weigh no more than single units of currency. Example -cheque, demand draft, etc.
(3) Flat Money
• Fiat money has no intrinsic value nor can it be redeemed for specie (money in the form of coins rather
than notes). Its value originates from government decree, or fiat. The best example of fiat money is paper
currency.
(4) Commercial bank money
• It describes the portion of a currency which is made of debt generated by commercial banks. It is created
when banks make use of fractional reserve banking to issue loans worth many times the value of the actual
sovereign currency they hold (typically up to 10 times more).

Measures of Money Supply

Money supply, like money demand, is a stock variable. The total stock of money in circulation among the
public at a particular point of time is called money supply. RBI publishes figures for four alternative
measures of money supply, viz. M1, M2, M3 and M4.
They are defined as follows:
• Reserve Money MO = Currency in circulation + Bankers' deposits with the RBI + 'Other' deposits with the
RBI
• Narrow Money M1 = Currency with the public + Demand deposits with the banking system + 'Other'
deposits with the RBI
• Intermediate Money M2 = M1 + Short-term time deposits of residents (including and up to the
contractual maturity of one year).
• Broad Money M3 = M2 + Long-term time deposits of residents + Call/Term funding from financial
institutions.

Financial Markets in India

A financial market is a market in which people trade financial securities and derivatives such as futures and
options at low transaction costs. Securities include stocks and bonds, and precious metals.
(1) Money market-
Basically refers to a section of the financial market where financial
instruments with high liquidity and short-term maturities are traded. Money market has become a
component of the financial market for buying and selling of securities of short-term maturities, of one year
or less.

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Main instruments of money market in India are:

1. Treasury Bills
2. Commercial Paper
3. Call Money
4. Certificate of Deposit
5. Commercial Bills
6. Repo Market
7. Collateralised Borrowing and Lending Obligation (CBLO)
Explanations: -
• Treasury Bills: Treasury bills, also known as Zero Coupon Bonds are the instrument of short term
borrowing with maturity period of less than one year.
• Commercial Paper (CP) is a short term unsecured promissory note with maturity period of 7 days to
one year. Since it is unsecured, it is issued by the large and creditworthy companies to meet their short
term fund requirements.
• Call Money is a short term finance used for interbank transactions. Overnight (one day) loans can be
availed by banks to meet liquidity in call money market. If the bank needs funds for more days, it can avail
money through notice market. Here, the loan is provided from two days to fourteen days.
• Certificates of deposit are short term instruments issued by commercial banks and financial institutions
to the individuals, corporations and companies. They are unsecured and negotiable.
• Commercial bill is a bill of exchange used to finance the working capital of firms. It is a short term,
negotiable and self-liquidity instrument.
• Repo market- Repo or ready forward contact is an instrument for borrowing funds by selling securities
with an agreement to repurchase the said securities on a mutually agreed future date at an agreed price
which includes interest for the funds borrowed.
• Collateralised Borrowing and Lending Obligation- CBLO is another money market instrument
operated by the Clearing Corporation of India Ltd. (CCIL). It is a discounted instrument available in
electronic book entry form for the maturity period ranging from one day to one year.

Capital Markets refers to activities that gather funds from some entities and make them available to other
entities needing funds. The core function of such a market is to improve the efficiency of transactions so
that each individual entity doesn't need to do search and analysis, create legal agreements, and complete
funds transfer.
The instruments traded (media of exchange) in the capital market are:
(1) Debt Instruments: It is a paper or electronic obligation that enables the issuing party to raise funds
by promising to repay a lender in accordance with terms of a contract.
• Types of debt instruments include notes, bonds, debentures, certificates, mortgages, leases or other
agreements between a lender and a borrower.
• These instruments provide a way for market participants to easily transfer the ownership of debt
obligations from one party to another.
(2) Equity Shares: The owner of these shares undertakes the maximum entrepreneurial risk associated
with a business venture. Equity is the value of an asset less the amount of all liabilities on that asset.
• As an accounting equation, one can represent it as Assets - Liabilities = Equity.
(3) Preference Shares: Preference shares, more commonly referred to as preferred stock, are shares of
a company's stock with dividends that are paid out to shareholders at a fixed rate like that of interest on
bonds.
• If the company enters bankruptcy, the shareholders with preferred stock are entitled to be paid from
company assets first.
(4) Derivative: It is a financial security with a value that is reliant upon or derived from an underlying
asset or group of assets. The derivative itself is a contract between two or more parties based upon the
asset or assets.
• The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and
market indexes.

Negotiable Instruments (NI)

According to Section 13(i) of Negotiable Instrument Act, 1881 a negotiable instrument includes and means
a promissory note, bill of exchange or cheque.
A negotiable instrument has three principal attributes:

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(1) an asset or property (that is the subject matter of the instrument) passes from the transferor to the
transferee by mere delivery and/or endorsement of the instrument,
(2) a transferee accepting the instrument in good faith and for value (and who has no notice of any defect
in the title of the transferor) obtains an indefeasible title and may sue on the instrument in his or her
name, and
(3) no notice of the transfer need to be given to the party liable in the instrument.

Bill of Exchange- is an instrument in writing containing an unconditional order, signed by the maker,
directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to
the bearer of the instrument. A Hundi is a Bill of Exchange in an Indian language, governed by customs
and local usage. The NI Act, however, does not govern Hundis. A Bill of Exchange may therefore, include a
Hundi, but Hundi may not be a Bill of Exchange.
Promissory Notes- Section 4 of the Negotiable Instrument Act, 1881 defines a promissory note as an
instrument in writing. It contains an unconditional undertaking which is signed by the maker to pay of
certain sum of money to, to the order of certain person, or to the bearer of the instruments. The person,
who makes the promissory note, promises to pay and is called the maker. The person to whom the
payment is to be mode is called the payee.
Cheque – A cheque is a bill of exchange drawn on a specified banker. It is expressed to be payable on
demand.
Bank Draft – It is a payment on behalf of a prayer that is guaranteed by the issuing bank. Typically, banks
will review the bank draft requester’s account to see if sufficient funds are available for the check to clear.
Once it has been confirmed that sufficient funds are available, the bank effectively sets aside the funds
from the person’s account to be given out when the bank draft is used.
Bear bond – It is a fixed-income security that is owned by the holder (bearer), rather than a registered
owner. Coupons for interest payments are physically attached to the security, and it is the bandholder’s
responsibility to submit the coupons to a bank for payment and redeem the physical certificate when the
bond reaches the maturity daye.

Government Securities Market in India

Government securities (G-Secs) are debt instruments issued by the Government of India (Central or
State Governments) to borrow money from the public to finance fiscal deficits, infrastructure
projects, and other government expenditures. These securities are considered risk-free because they are
backed by the government.
(1) Bond: -
A bond is a debt instrument in which an investor loans money to an entity (typically corporate or
government) which borrows the funds for a defined period of time at a variabke or fixed interest rate.
(2) G-Sec: -
Government Security (G-Sec) is a tradeable instrument issued by the Central Government or the State
Governments. It acknowledges the Government's debt obligation. Such securities are short term (usually
called treasury bills, with original maturities of less than one year) or long term (usually called Government
bonds or dated securities with original maturity of one year or more).
• In India, the Central Government issues both, treasury bills and bonds or dated securities while the State
Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs).
G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments.
• G-Secs are issued through auctions conducted by RBI. Auctions are conducted on the electronic platform
called the E-Kuber, the Core Banking Solution (CBS) platform of RBI.
• Commercial banks, scheduled UCBs, Primary Dealers, insurance companies and provident funds, who
maintain funds account (current account) and securities accounts (Subsidiary General Ledger (SGL)
account) with RBI, are members of this electronic platform.
• Major players in the G-Secs market include commercial banks and PDs (called as Primary Members-PMs)
besides institutional investors like insurance companies.
• PDs play an important role as market makers in G-Secs market. Other participants include co-operative
banks, regional rural banks, mutual funds, provident and pension funds.

Financial Institutions (FIs) and Financial Regulators in India

Financial Institutions and Financial regulators are company engaged in the business of dealing with
monetary transactions, such as deposits, loans, investments and currency exchange. Fis encompass a

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broad range of business operations within the financial services sector, including banks, trust companies,
insurance companies, and brokerage firms or investment dealers.
1. RBI: -
• The Reserve Bank of India was established on April 1 1935 in accordance with the provisions of the
Reserve Bank of India Act, 1934. It is empowered to control regulate, guide and supervise the financial
system of the country through its monetary and credit polices.
2. National Bank for Agriculture and Rural Development (NABARD)
• NABARD came into existence on 12 July 1982. It was established based on the recommendations of the
Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development
(CRAFICARD). The Committee was formed under the Chairmanship of B. Sivaraman. RIDF (Rural
Infrastructure Development Fund) is operated by NABARD. Headquarter: Mumbai
3. Regional Rural Bank (RRB)
• RRB are set up by an ordinance in 1975. Later replaced by RRB Act 1976.
• It was set up based on the recommendation of M Narsimhan Committee.
• First RRB was set up on 2nd October 1975.
Share holder contribution:
• Government of India- 50%
• Sponsor Bank- 35%
• State Government- 15%
4. Small Industries Development Bank of India (SIDBI)
• SIDBI has been set up on April 02nd, 1990. It is the principal financial institution for promotion, financing
and development of the Micro, Small and Medium Enterprise (MSME) sector. Headquarter- Lucknow.
5. Securities and Exchange Board of India (SEBI)
• SEBI is the regulator for the securities market in India (to protect the interest of investor). It was
established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of
India Act, 1992. Headquarter- Mumbai
6. Export-Import Bank of India (EXIM)
• EXIM bank wholly owned by Government of India. It was established in 1982, for financing, facilitating
and promoting foreign trade of India.
• Purpose- To finance, facilitate and promote foreign trade in India. Also to coordinate the working of
institutions engaged in financing export import trade. Headquarter- Mumbai
7. Export Credit Guarantee Corporation of India (ECGC)
• Purpose- To provide risk as well as insurance cover to Indian entrepreneurs.
• It is under the administrative control of Ministry of Commerce and wholly owned by the Government of
India.
• It was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk
Insurance and related services for exports. Headquarter- Mumbai
8. National Housing Bank (NHB)
• NHB is wholly owned subsidiary of RBI. NHB was set up on July 9, 1988 under the National Housing Bank
Act, 1987. It is an apex level institution for housing finance. Headquarters- New Delhi
9. IRDAI
• The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body
tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted
by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the
Government of India.
• IRDA Act was passed upon the recommendation of Malhotra committee report. It was headed by R N
Malhotra.
• IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed
by the government of India. Headquarters- Hyderabad, Telangana
10. PFRDA
• Interim Pension Fund Regulatory and Development Authority was established by Government of India on
August 23, 2003 based on the recommendations of the OASIS (old age social & income security) report.
PFRDA promotes old age income security by establishing, developing and regulating pension funds.
• PFRDA is regulating and administering the National Pension System (NPS) along with administering the
Atal Pension Yojana (APY) which is a defined benefits pension scheme for the unorganized sector,
guaranteed by the Government of India. Headquarters - New Delhi.

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Non-Banking Financial Company (NBFC)

NBFC is a company registered under the Companies Act, 1956 engaged in the business of loans and
advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local
authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit
business.
• A non-banking institution which is a company and has principal business of receiving deposits under any
scheme or arrangement in one lump sum or in instalments by way of contributions or in any other manner,
is also a non-banking financial company (Residuary non-banking company).
• NBFCs are categorized a) in terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs,
b) non-deposit taking NBFCs by their size into systemically important and other non-deposit holding
companies (NBFC-NDSI and NBFC-ND) and c) by the kind of activity they conduct.

Within this broad categorization the different types of NBFCs are as follows:
I. Asset Finance Company (AFC):
• An AFC is a financial institution whose principal business is the financing of physical assets supporting
productive/economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving
and material handling equipment, moving on own power and general purpose industrial machines.
II. Investment Company (IC):
• IC is a financial institution; whose principal business is the acquisition of securities.
III. Loan Company (LC):
• LC is a financial institution, carrying on as its principal business the providing of finance whether by
making loans or advances or otherwise for any activity other than its own but does not include an Asset
Finance Company.
IV. Infrastructure Finance Company (IFC):
• IFC is a non-banking finance company a) which deploys at least 75 per cent of its total assets in
infrastructure loans, b) has a minimum Net Owned Funds of 300 crore, c) has a minimum credit rating of 'A
'or equivalent d) and a CRAR of 15%.
V. Systemically Important Core Investment Company (CIC-ND-SI):
• CIC-ND-SI is an NBFC carrying on the business of acquisition of shares and securities.
VI. Infrastructure Debt Fund NBFC:
• IDF-NBFC is a company registered as NBFC to facilitate the flow of long term debt into infrastructure
projects. IDF-NBFC raise resources through issue of Rupee or Dollar denominated bonds of minimum 5year
maturity. Only Infrastructure Finance Companies (IFC) can sponsor IDF-NBFCs.
VII. Non-Banking Financial Company –
• Micro Finance Institution (NBFC: MFI): NBFC is a non-deposit taking NBFC having not less than 85% of its
assets in the nature of qualifying assets.
VIII. Non-Banking Financial Company –
• Factors: NBFC-Factor is a non-deposit taking NBFC engaged in the principal business of factoring. The
financial assets in the factoring business should constitute at least 50 percent of its total assets and its
income derived from factoring business should not be less than 50 percent of its gross income.
IX. Mortgage Guarantee Companies (MGC) –
• MGC are financial institutions for which at least 90% of the business turnover is mortgage guarantee
business or at least 90% of the gross income is from mortgage guarantee business and net owned fund is
₹ 100 crore.
X. NBFC- Non-Operative Financial Holding Company (NOFHC): -
• NOFHC is financial institution through which promoter / promoter groups will be permitted to set up a
new bank.
• It's a wholly-owned Non-Operative Financial Holding Company (NOFHC) which will hold the bank as well
as all other financial services companies regulated by RBI or other financial sector regulators, to the extent
permissible under the applicable regulatory prescriptions.

Credit Ratings of Banks

Credit ratings play a key role in the financial system. A credit rating agency is a company that assigns
credit ratings, which rate a debtor's ability to pay back debt by making timely interest payments and the
likelihood of default. An agency may rate the creditworthiness of issuers of debt obligations, of debt
instruments, and in some cases, of the servicers of the underlying debt, but not of individual consumers.
CRISIL: -

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• Credit Rating Information Services of India Limited is the largest credit rating agency of India.
• CRISIL's majority shareholder is Standard & Poor's, a division of McGraw Hill Financial and provider of
financial market intelligence.
• It was founded in 1987.
• Headquarter- Mumbai, Maharashtra
• CRISIL rates a wide range of entities like- Banks, industrial companies, NBFCs, mutual funds, state
government.
CIBIL: -
• Credit Information Bureau of India Limited.
• CIBIL collects and maintains the records of individuals payment pertaining to loans and credit cards.
• This agency was founded in 2000 and was first credit information company.
• Maintains and submit records to banks and credit institutions.
• Information is used to create credit information report (CIR).
• Headquarter- Mumbai
ICRA: -
Investment Information and Credit Rating Agencies is an Indian independent and professional investment
information and credit rating agency was founded in 1991. The international Credit Rating Agency Moody's
Investors Service is ICRA's largest shareholder.
Headquarter- Gurugram, Haryana.

International Credit Rating Agencies: -

Fitch Ratings Inc. is one of the "Big Three credit rating agencies" and is one of the three nationally
recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange
Commission in 1975.
• The firm was founded by John Knowles Fitch on December 24, 1914 in New York City.
• Fitch Ratings' long-term credit ratings are assigned on an alphabetic scale from 'AAA' to 'D'.
• For e.g., AAA: the best quality companies, reliable and stable, AA: quality companies, a bit higher risk
than AAA, A: economic situation can affect finance.
• Headquarters- New York City, New York, U.S and London, England, U.K.

Moody's Investors Service: -

Moody's, is the bond credit rating business of Moody's Corporation. Moody's Investors Service provides
international financial research on bonds issued by commercial and government entities.
• Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating
agencies.
• Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds
and bond ratings.
• Headquarters- New York City, United States

Standard & Poor’s Financial Services: -

S&P is an American Financial services company. It is a division of S&P Global that publishes financial
research and analysis on stocks, bonds and commodities. S&P is known for its stock market indices such as
the U.S.-based S&P 500, the Canadian S&P/TSX, and the Australian S&P/ASX 200.
Headquarters: New York, United States.

Foreign Investment in India

Any investment that is made in India with the source of funding that is from outside of India is a foreign
investment. So, the investments that are made by Foreign Corporates, Foreign Nationals, as well as Non-
Resident Indians would fall into the category of Foreign Investment.
Types of Foreign Investments
Funds from foreign country could be invested in shares, properties, ownership/management or
collaboration. Based on this, Foreign Investments are classified as below.
1. Foreign Direct Investment (FDI)
2. Foreign Portfolio Investment (FPI)
3. Foreign Institutional Investment (FII)

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Foreign Direct Investment (FDI)

FDI is the investment through capital instruments by a person resident outside India
• in an unlisted Indian company; or
• in 10% or more of the post issue paid-up equity capital on a fully diluted basis of a listed Indian
company.
If an existing Investment by a person resident outside India in capital instruments of a listed Indian
company falls to a level below 10% of the post issue paid-up equity capital on a fully diluted basis, the
investment will continue to be treated as FDI.
Foreign Portfolio Investment (FPI)
FPI consists of securities and other financial assets passively held by foreign investors. It does not provide
the investor with direct ownership of financial assets and is relatively liquid depending on the volatility of
the market.
• FPI differs from FDI, in which a domestic company. runs a foreign firm, because although FDI allows a
company to maintain better control over the firm held abroad, it may face more difficulty selling the firm at
a premium price in the future.
Foreign Institutional Investment (FII)
FIIs are those institutional investors which invest in the assets belonging to a different country other than
that where these organizations are based.
• Foreign institutional investors are the big companies such as investment banks, mutual funds etc, who
invest considerable amount of money in the Indian markets.
• They are registered with SEBI.

Bank Accounts
A bank account is a financial account maintained by a bank for a customer. A bank account can be deposit
account, a credit card account, a current account, or any other type of account offered by a financial
institution and represents the funds that a customer has entrusted to a financial institution and represents
the funds that a customer can make withdrawals. Alternatively, accounts may be loan accounts in which
case the customer owns money to the financial institution.

Types of Bank Account in India

1. Saving Account-
This account can be opened by individuals in Bank to save some share of their earnings.
In savings account there is a restriction a person can deposit or withdraw money within a month. Minimum
deposit an individual has to maintain in account is determined by the banks. Some banks also offer zero
balance accounts.
• On saving account an individual earns some rate of interest, which varies from bank to bank.
• Earlier this rate of interest was fixed by RBI, but now banks are free to decide their own rate of interest
on saving account.
2. Current Account-
Current accounts are opened for the business transactions on the name of firm or company.
Banks offer no rate of interest on money held in current account but provide extra features as compared to
savings account. Like there is no limit on deposit or withdrawal in current accounts but no passbook is
issued for the current account holder.
• Minimum deposit needed to open current account is decided by respective banks.
• Overdraft
• Many facilities are provided to current account holder like overdraft facility, statement of account.
• Overdraft means the act of overdrawing from the bank account. In other words, the account holder
withdraws more money from bank account than has been deposited in it.
3. Recurring Deposit
This account is meant for salary earning people who can save a fixed sum of money every month.
• In this account a person deposits a fixed sum of money for fixed period.
• Minimum period of RD is 6 months and maximum is 10 years.

4. Fixed Deposit
In FD account a person deposits a fixed sum of money one time only for the fixed period.
Bank pays the rate of interest on the fixed deposit account depends on tenure of deposit account, after the
completion of period bank pay the amount along with rate of interest incurred on the amount.

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• Bank also charge the penalty is premature withdrawal is done if person need money before the
completion of fixed period.
• Tenure of FD can vary from 7 days to 10 years.

Net Demand and Time Liabilities (NDTL)

The net demand and time liabilities or NDTL shows the difference between the sum of demand and time
liabilities (deposits) of a bank (with the public or the other bank) and the deposit in the form of asset held
by the other bank.
NDTL can be calculated by using the following formula-
𝐵𝑎𝑛𝑘′𝑠 𝑁𝐷𝑇𝐿 = 𝐷𝑒𝑚𝑎𝑛𝑑 𝑎𝑛𝑑 𝑇𝑖𝑚𝑒 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 (𝑑𝑒𝑝𝑜𝑠𝑖𝑡𝑠) − 𝐷𝑒𝑝𝑜𝑠𝑖𝑡𝑠 𝑤𝑖𝑡ℎ 𝑜𝑡ℎ𝑒𝑟 𝑏𝑎𝑛𝑘.

ATMs & Cards

ATMs: -
An automated teller machine (ATM) enables customers to perform financial transactions. such as cash
withdrawals, deposits, transfer funds, or obtaining account information, at any time and without the need
for direct interaction with bank staff.
• National Financial Switch (NFS) is the largest network of shared ATMs in India. It was designed,
developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in
2004. It is run by NPCI.
• The first ATM in India was set up in 1987 by HSBC in Mumbai. In 1997, the Indian Banks Association
(IBA) set up SWADHAN, the first network of shared ATMs in India. It was managed by India Switch
Company (ISC) for five years and allowed cardholders to withdraw cash.
• The first modern ATMs came into use in December 1972 in the UK. ATMs were introduced to the Indian
banking industry in the early 1990s initiated by foreign banks.

Types of ATM
Bank ATM- These are owned and operated by the respective banks. For ex. SBI Bank ATM, ICICI Bank ATM.
1. Brown Label ATM
• When bank outsources the ATM operations to a third party, it is called Brown label ATM.
• The private company owns and operates ATM machine.
• The bank which have outsourced this work provide cash for that ATM.
• They have logo of the bank.
White Label ATM
• They are owned by non-bank entities.
• There is no bank logo.
• RBI has given licenced/Permission to non-bank entities to open such ATM.
• Any non-bank entity with minimum net worth of rupees 100 crore can apply for white label ATM.
• Tata communications payment solution is the first company to get RBI permission to open white label
ATM.
• They started their chain under brand name Indicash.
• Other WLA- Muthoot Finance ATM, Prism payments etc.

Cards: -
Cards can be classified on the basis of their issuance, usage and payment by the card holder. There are
three types of cards: -
(a) debit cards
(b) credit cards and
(c) prepaid cards.
Debit cards are issued by banks and are linked to a bank account. Credit cards are issued by banks / other
entities approved by RBI. Prepaid cards are issued by the banks / non-banks against the value paid in
advance by the cardholder and stored in such cards which can be issued as smart cards or chip cards,
magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers,
etc.
(1) Debit Card:
The debit cards are used to withdraw cash from an ATM, purchase of goods and services at Point of Sale
(POS)/E-commerce (online purchase) both domestically and internationally (provided it is enabled for
international use). However, it can be used only for domestic fund transfer from one person to another.

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(2) Credit Card:

The credit cards are used for purchase of goods and services at Point
of Sale (POS) and E-commerce (online purchase)/ through Interactive Voice Response (IVR)/Recurring
transactions/ Mail Order Telephone Order (MOTO).
• These cards can be used domestically and internationally (provided it is enabled for international use).
• The credit cards can be used to withdraw cash from an ATM and for transferring funds to bank accounts,
debit cards, credit cards and prepaid cards within the country.
(3) Prepaid Card:
The prepaid cards issued by the banks can be used to withdraw cash
from an ATM, purchase of goods and services at Point of Sale (POS)/E-commerce (online purchase) and for
domestic fund transfer from one person to another. Such prepaid cards are known as open system prepaid
cards.
• However, the prepaid cards issued by authorised non-bank entities can be used only for purchase of
goods and services at Point of Sale (POS)/E-commerce (online purchase) and for domestic fund transfer
from one person to another.
• Such prepaid cards are known as semi-closed system prepaid cards. These cards can be used only
domestically.

Static Finance
The term financial system is a set of inter-related activities/services working together to achieve some
predetermined purpose or goal. It includes different markets, the institutions, instruments, services and
mechanisms which influence the generation of savings, investment capital formation and growth.
The objective of the financial system is to "supply funds to various sectors and activities of the economy in
ways that promote the fullest possible utilization of resources without the destabilizing consequence of
price level changes or unnecessary interference with individual desires."
The financial system is also divided into users of financial services and providers.

(1) Indian Financial System

The Indian financial system is broadly classified into two broad groups: i) Organised sector and (ii)
unorganised sector.
Organised financial system comprises the following sub-systems:
• Banking system
• Cooperative system
• Development Banking system
o Public sector
o Private sector
• Money markets
• Financial companies/institutions.
Unorganised financial system:
• It comprises of relatively less controlled moneylenders, indigenous bankers, lending pawn brokers,
landlords, traders etc.
• This part of the financial system is not directly amenable to control by the Reserve Bank of India (RBI).
• There are a host of financial companies, investment companies, chit funds etc., which are also not
regulated by the RBI or the government in a systematic manner.

Indian Financial System: Major components

• Financial Institutions
o Banking Institutions
o Non-Banking Financial Institutions
• Financial Markets
o Money Market
o Capital Market
• Financial Instruments/Assets/Securities
o Cash Instruments
o Derivative Instrument

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(2) Public Finance: -

Public finance is the management of a country's revenue, expenditures, and debt load through various
government and quasi-government institutions.
Components of Public Finance-
o Tax collection
o Budget
o Expenditures
o Deficit/Surplus
o National Debt

(3) Union Budget: -

According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the
annual financial statement, is a statement of the estimated receipts and expenditure of the government for
that particular year. Union Budget keeps the account of the government's finances for the fiscal year that
runs from 1st April to 31st March.

Government Budget

Revenue Budget Capital Budget

Capital Capital Receipts Capital Receipts

Revenue Receipts
Expenditure

Plan Non- Plan Plan Non-Plan

Tax Non-Tax Revenue Revenue Capital
Capital
Revenue Revenue Expenditu Expenditu Expenditu
Expenditu
re re re re

Union Budget is classified into Revenue Budget and Capital Budget.

Revenue Account
The Revenue Budget shows the current receipts of the government and the expenditure that can be met
from these receipts.
 Revenue Receipts: Revenue receipts are divided into tax and non tax revenues.
 Tax revenues consist of the proceeds of taxes and other duties levied by the central government.
 Tax revenues comprise proceeds of taxes and other duties levied by the Union. Other revenues are
receipts of the government mainly consisting of interest and dividend on investments made by the
government, and fees and receipts for other services rendered by the government.
Revenue Expenditure
 Revenue expenditure consists of all those expenditures of the government which do not result in creation
of physical or financial assets.
 It relates to those expenses incurred for the normal functioning of the government departments and
various services, interest payments on debt incurred by the government, and grants given to state
governments and other parties.

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Budget documents classify total revenue expenditure into plan and non plan expenditure.
 Plan revenue expenditure relates to central Plans (the Five-Year Plans) and central assistance for State
and Union Territory Plans.
 Non-plan expenditure, the more important component of revenue expenditure, covers a vast range of
general, economic and social services of the government.  The main items of non-plan expenditure are
interest payments, defence services, subsidies, salaries and pensions.
 Interest payments on market loans, external loans and from various reserve funds constitute the single
largest component of non-plan revenue expenditure.
Capital Account
 Capital Budget is an account of the assets as well as liabilities of the central government, which takes into
consideration changes in capital.
 It consists of capital receipts and capital expenditure of the government.
Capital Receipts:
 The main items of capital receipts are loans raised by the government from the public which are called
market borrowings, borrowing by the government from the Reserve Bank and commercial banks and other
financial institutions through the sale of treasury bills, loans received from foreign governments and
international organisations, and recoveries of loans granted by the central government.
 Other items include small savings (Post-Office Savings Accounts, National Savings Certificates, etc),
provident funds and net receipts obtained from the sale of shares in Public Sector Undertakings (PSUs).
www.oliveb
Capital Expenditure:
• This includes expenditure on the acquisition of land, building, machinery, equipment, investment in
shares, and loans and advances by the central government to state and union territory governments, PSUs
and other parties.
Capital expenditure is also categorised as plan and non-plan in the budget documents.
• Plan capital expenditure, like its revenue counterpart, relates to central plan and central assistance for
state and union territory plans.
• Non-plan capital expenditure covers various general, social and economic services provided by the
government.

(3) Measures of Government Deficit

When a government spends more than it collects by way of revenue, it incurs a budget deficit.
• Revenue Deficit: The revenue deficit refers to the excess of government’s revenue expenditure over
revenue receipts.
o Revenue deficit = Revenue expenditure – Revenue receipts
• Fiscal Deficit: Fiscal deficit is the difference between the government’s total expenditure and its total
receipts excluding borrowing.
o Gross fiscal deficit = Total expenditure – (Revenue receipts + Non-debt creating capital receipts)
• Non-debt creating capital receipts are those receipts which are not borrowings and, therefore, do not give
rise to debt.
• Examples are recovery of loans and the proceeds from the sale of PSUs. The fiscal deficit will have to be
financed through borrowing. Thus, it indicates the total borrowing requirements of the government from all
sources.
o From the financing side Gross fiscal deficit = Net borrowing at home + Borrowing from RBI + Borrowing
from abroad
• Net borrowing at home includes that directly borrowed from the public through debt instruments (for
example, the various small savings schemes) and indirectly from commercial banks through Statutory
Liquidity Ratio (SLR).
• Primary Deficit: It is simply the fiscal deficit minus the interest payments.
o Gross primary deficit = Gross fiscal deficit – net interest liabilities
• Net interest liabilities consist of interest payments minus interest receipts by the government on net
domestic lending.

(4) Fiscal Responsibility and Budget Management (FRBM) Act

• Fiscal Responsibility and Budget Management (FRBM) became an Act in 2003.

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• The objective of the Act is to ensure inter-generational equity in fiscal management, long run
macroeconomic stability, better coordination between fiscal and monetary policy, and transparency in fiscal
operation of the Government.
• FRBM Act provides a legal institutional framework for fiscal consolidation. It is now mandatory for the
Central government to take measures to reduce fiscal deficit, to eliminate revenue deficit and to generate
revenue surplus in the subsequent years.
• The Act binds not only the present government but also the future Government to adhere to the path of
fiscal consolidation. The Government can move away from the path of fiscal consolidation only in case of
natural calamity, national security and other exceptional grounds which Central Government may specify.
• In May 2016, the government set up a committee under NK Singh to review the FRBM Act. The
government believed the targets were too rigid.

(5) Goods and Services Tax (GST)

• GST is an Indirect Tax which has replaced many Indirect Taxes in India.
• The Goods and Service Tax Act was passed in the Parliament on 29th March 2017.
• The Act came into effect on 1st July 2017
• Goods & Services Tax Law in India is a comprehensive, multi stage, destination-based tax that is levied
on every value addition.
• The GST journey began in the year 2000 when a committee was set up to draft law. It took 17 years
from then for the Law to evolve. In 2017 the GST Bill was passed in the Lok Sabha and Rajya Sabha. On
1st July 2017 the GST Law came into force.
There are 3 taxes applicable under this system: CGST, SGST & IGST.
• CGST: Collected by the Central Government on an intra-state sale (Eg: transaction happening within
Uttar Pradesh)
• SGST: Collected by the State Government on an intra-state sale (Eg: transaction happening within Uttar
Pradesh )
• IGST: Collected by the Central Government for inter-state sale (Eg: Uttar Pradesh to Uttarakhand)

(6) Some Important Financial Terms

• Accounts payable – a record of all unpaid short-term (less than 12 months) invoices, bills and other
liabilities. Examples of accounts payable include invoices for goods or services, bills for utilities and tax
payments due.
• Accounts receivable – a record of all short-term accounts (less than 12 months) from customers you
sell to but are yet to pay. These customers are called debtors and are generally invoiced by a business.
• Accrual accounting – an accounting system that records transactions at the time they occur, whether
the payment occurs now or in the future.
• Amortisation – It is the process of offsetting assets such as goodwill and intellectual property over a
period of time.
• Assets – things you own. These can be cash or something you can convert into cash such as property,
vehicles and inventory.
• Audit – a check by an auditor or tax official on your financial records to check that a person account for
everything correctly.
• Balance sheet – listing of all of your assets and liabilities and works out the net assets.
• Balloon payment – a final lump sum payment due on a loan agreement. Loans with a larger final
'balloon payment' have lower regular repayments over the term of the loan. • Bank reconciliation – a cross-
check that ensures the amounts in your cashbook match the relevant bank statements.
• Bankrupt – when someone cannot pay their debts and aren't able to reach an agreement with their
creditors.
• Benchmarking – it is the process of comparing your business to similar businesses in your industry.
• Bill of sale – a legal document for the purchase of property or other assets that details the purchase,
where it took place, and for how much.
• Bootstrapping – where a business funds its growth purely through personal finances and revenue from
the business.
• Break-even point – the exact point when a business's income equals its expenses.
• Budget – a listing of planned revenue and expenditure for a given period.
• Capital – It is defined as wealth in the form of money or property owned by a business.

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• Capital cost – a one-off substantial purchase of physical items such as plant, equipment, building or
land.
• Capital gain – the amount gained when an asset sells above its original purchase price.
• Capital growth – an increase in the value of an asset.
• Cash – includes all money available on demand, including bank notes and coins, petty cash, certain
cheques, and money in savings or debit accounts.
• Cash flow – the measure of actual cash flowing in and out of a business.
• Chart of accounts – an index of the accounts a business will use to classify transactions. Each account
represents a type of transaction such as asset, liability, owner's equity, income, and expense.
• Chattel mortgage – similar to a hire-purchase agreement although the business owns the asset from
the start. Chattel mortgages require regular ongoing payments and typically provide the option of reducing
the payments through the use of a final 'balloon' payment.
• Contingent liability – a liability where payment is made only if a particular event or circumstance
occurs.
• Cost of goods sold – the total direct costs of producing a good or delivering a service.
• Credit – a lending term for when a customer purchases a good or service with an agreement to pay at a
later date. This could be an account with a supplier, a store credit card or a bank credit card.
• Creditor – a person/ business that allows you to purchase a good or service with an agreement to pay at
a later date. A creditor is also anyone who you owe money to, such as a lender or supplier.
• Credit limit – a dollar amount that you cannot exceed on a credit card or the maximum lending amount
offered for a loan.
• Credit rating – a ranking applied to a person or business based on their credit history that represents
their ability to repay a debt.
• Current asset – an asset in cash or something you can convert into cash within 12 months.
• Current liability – a liability that is due for payment within 12 months.
• Debt – any amount that you owe including bills, loan repayments and income tax.
• Debt consolidation – the process of combining several loans or other debts into one for the purposes of
obtaining a lower interest rate or reducing fees.
• Debt finance – money provided by an external lender, such as a bank or building society.
• Depreciation – the process of offsetting an asset over a period of time. You can depreciate an asset to
spread the cost of the asset over its useful life.
• Disbursements – money that a business spends.
• Drawings – personal expenses paid for from a business account.
• Encumbered – an encumbered asset is one that is currently put forward as security or collateral for a
loan.
• Equity – the value of ownership interest in the business, calculated by deducting liabilities from assets.
• Equity finance – money provided to a business in exchange for part ownership of the business. This can
be money invested by the business owners, friends, family, or investors like business angels and venture
capitalists.
• Fixed asset – a physical asset used in the running of a business.
• Fixed cost – a cost that is not part of producing a good or service.
• Fixed interest rate – when the interest rate of a loan remains the same for the term of the loan or an
agreed timeframe.
• Float – when a private company offers shares in the company to the public for the first time. See Initial
public offering.
• Gross income – the total money earned by a business before you deduct expenses.
• Gross profit -the difference between sales and the direct cost of making the sales.
• Initial public offering (IPO) – when a company first offers shares on the stock market to sell them to
the general public. Also known as floating on the stock market.
• Insolvent – a business or company is insolvent when they cannot pay their debts as and when they are
due.
• Intangible assets – non-physical assets with no fixed value, such as goodwill and intellectual property
rights.
• Interest – the cost of borrowing money on a loan or earned on an interest-bearing account.
• Interest rate – a percentage used to calculate the cost of borrowing money or the amount you will earn.
Rates vary from product to product and generally the higher the risk of the loan, the higher the interest
rate. Rates may be fixed or variable.

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• Investment – the purchase of an asset for the purpose of earning money such as shares or property.
• Liability – any financial expense or amount owed.
• Line of credit – an agreement allowing a borrower to withdraw money from an account up to an
approved limit.
• Liquidation – the process of winding up an insolvent company.
• Liquidity – how quickly you can convert assets into cash.
• Loan – a finance agreement where a business borrows money and pays it back in instalments (plus
interest) within a specified period of time.
• Loan to value ratio (LVR) – your loan amount shown as a percentage of the market value of the
property or asset that you purchase. The ratio helps a lender work out if they can recover the loan amount
if the loan goes into default.
• Maturity date – when a loan's term ends, and all outstanding principal and interest payments are due.
• Net assets (also known as net worth, owner's equity or shareholder's equity) – the total assets minus
total liabilities.
• Net income – the total money earned by a business after tax and other deductions.
• Net profit – the total gross profit minus all business expenses
• Overdraft facility – a finance arrangement where a lender allows a business to withdraw more than the
balance of an account.
• Overdrawn account – a credit account that has exceeded its credit limit or a bank account that has had
more than the remaining balance withdrawn.
• Receipts – a document given to a customer to confirm payment and to confirm the sale of a good or
service.
• Refinance – when a new loan helps to pay off an existing one. Reasons to refinance include: extending
the original loan over a longer period of time, reduce fees or interest rates, switch banks, or move from a
fixed to variable loan.
• Repossess – the process of a bank or other lender taking ownership of property/assets for the purpose
of paying off a loan in default.
• Return on investment (ROI) – a calculation that works out how efficient a business is at generating
profit from the original equity from the owners/shareholders. It's a way of thinking about the benefit
(return) of the money you invest into the business. To calculate ROI, divide the gain (net profit) of the
investment by the cost of the investment. The ROI then becomes a percentage or a ratio.
• Revenue– the amount earned before expenses, tax and other deductions.
• Security-property or assets that a lender can take ownership of when repayment of a loan does not
occur.
• Stock – the actual goods or materials a business currently has on hand.
• Tax invoice – an invoice required for the supply of goods or services over a certain price. You need a
valid tax invoice when claiming GST credits.
• Variable interest rate – when the interest rate of a loan changes with market conditions for the
duration of the loan.
• Variable cost – a cost that changes depending on the number of goods produced or the demand for the
products or service.
• Venture capital – an investment in a start-up business that has excellent growth prospects. However, it
does not have access to capital markets because it is a private company.

(7) Financial Institutions: -

National Financial Institutions
Financial Institutions Headquarters Established
Year
Reserve Bank of India Mumbai 1935
Small Industries Development Bank of India Lucknow 1990
Securities and Exchange Board of India (SEBI) Mumbai 1992
National Bank for Agriculture & Rural Development Bank Mumbai 1982
(NABARD)
Export-Import Bank of India (EXIM Bank) Mumbai 1982
National Housing Bank (NHB) New Delhi 1988
Industrial Finance Corporation of India (IFCI) New Delhi 1948
Life Insurance Corporation of India (LIC) Mumbai 1956

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Export Credit Guarantee Corporation of India (ECGC) Mumbai 1957

Bharatiya Reserve Bank Note Mudran Private Limited Bengaluru 1995
(BRBNMPL)
National Payments Corporation of INDIA (NPCI) Mumbai 2008
Insurance Regulatory and Development Authority of India Hyderabad 1999
(IRDAI)
Credit Rating Information Services of India (CRISIL) Mumbai 1987
Credit Information Bureau (India) Limited Mumbai 2000
Information and Credit Rating Agency of India Limited (ICRA) Gurugram 1991
Agriculture Finance Corporation of India Limited Mumbai 1968
Deposit Insurance and Credit Guarantee Corporation (DICGC) Mumbai 1978
Credit Analysis and Research Limited (CARE) Mumbai 1993
Asset Reconstruction Company (India) Limited (ARCIL) Mumbai 2002
National Securities Depository Limited (NSDL) Mumbai 1996
Institute for Development & Research in Banking Technology Hyderabad 1996
Insolvency and Bankruptcy Board of India (IBBI) New Delhi 2016
Association of Mutual Funds in India (AMFI) Mumbai 1995
Central Depository Services Ltd (CDSL) Mumbai 1999
National Institute of Bank Management (NIBM) Pune 1969
Clearing Corporation of India Limited (CCIL) Mumbai 2001
India Infrastructure Finance Company Ltd (IIFCL) New Delhi 2006

International Financial Institutions

Financial Institutions Headquarters Established
Year
International Bank for Reconstruction and Development Washington DC, 1944
(IBRD) USA
International Monetary Fund (IMF) Washington DC, 1945
USA
European Investment Bank (EIB) Kirchberg, 1958
Luxembourg
Asian Development Bank (ADB) Manila, Philippines 1966
Asian Infrastructure Investment Bank (AIIB) Beijing, China 2016
European Bank for Reconstruction & Development (EBRD) London, UK 1991
New Development Bank (NDB) Shanghai, China 2014
Bank for International Settlements (BIS) Basel, Switzerland 1930
International Investment Bank (IIB) Budapest, Hungary 1970
International Finance Corporation (IFC) Washington DC, 1956
USA
International Fund for Agricultural Development (IFAD) Rome, Italy 1977
Society for Worldwide Interbank Financial La Hulpe, Belgium 1973
Telecommunication (SWIFT)
Organisation for Economic Co-operation & Development Paris, France 1961
(OECD)
United Nations Economic and Social Council for Asia and Bangkok, Thailand 1947
the Pacific (UNESCAP)
World Economic Forum (WEF) Geneva, Switzerland 1971
International Development Association (IDA) Washington DC, 1960
USA
Multilateral Investment Guarantee Agency Washington DC, 1988
USA
International Center for Settlement of Investment Washington DC, 1966
Disputes USA

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Practice Questions

1. Which was the first bank established in India? 8. Which committee recommends the inflation
a) State Bank of India target for India's monetary policy?
b) Bank of Bengal a) Narasimham Committee
c) Bank of Hindustan b) Monetary Policy Committee (MPC)
d) Imperial Bank of India c) Basel Committee
e) Bank of Calcutta d) Tarapore Committee
e) Narsimhan Committee II
2. The State Bank of India (SBI) was originally
known as? 9. Which of the following is a short-term financial
a) Bank of Bombay instrument?
b) Bank of Bengal a) Treasury Bills
c) Imperial Bank of India b) Corporate Bonds
d) General Bank of India c) Government Bonds
e) Bank of Calcutta d) Equity Shares
e) Preference Shares
3. When was the Reserve Bank of India (RBI)
established? 10. The statutory liquidity ratio (SLR) is maintained
a) 1947 in the form of?
b) 1935 a) Cash reserves
c) 1955 b) Gold reserves
d) 1969 c) Government securities
e) 1921 d) Both (b) and (c)
e) Foreign currency reserves
4. The Banking Regulation Act was passed in which
year? 11. UPI (Unified Payments Interface) is regulated
a) 1947 by?
b) 1949 a) Reserve Bank of India
c) 1955 b) SEBI
d) 1969 c) NABARD
e) 1980 d) NPCI
e) Ministry of Finance
5. What was the minimum capital requirement for a
Local Area Bank as initially envisaged? a) INR 1 12. What does IMPS stand for in banking
Crore transactions?
b) INR 3 Crore a) Indian Monetary Payment System
c) INR 5 Crore b) Immediate Payment Service
d) INR 10 Crore c) Instant Money Processing Service
e) INR 15 Crore d) Internet Mobile Payment System
e) Integrated Mobile Payment Service
6. As per the Banking Regulation Act, which activity
is NOT allowed for commercial banks? 13. Which government scheme allows senior
a) Accepting deposits citizens to invest for fixed returns?
b) Granting loans a) Sukanya Samriddhi Yojana
c) Investing in stock markets b) Public Provident Fund (PPF)
d) Issuing demand drafts c) Senior Citizens Savings Scheme (SCSS)
e) Operating savings accounts d) Atal Pension Yojana
e) National Pension System (NPS)
7. Which of the following is NOT a monetary policy
tool used by RBI? 14. What is the maximum limit of deposit under the
a) Cash Reserve Ratio (CRR) Pradhan Mantri Jan Dhan Yojana (PMJDY) for an
b) Statutory Liquidity Ratio (SLR) account holder?
c) Repo Rate a) ₹25,000
d) Fiscal Deficit b) ₹50,000
e) Open Market Operations (OMO) c) ₹75,000
d) ₹1,00,000

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e) ₹1,50,000 e) Government bond trading

15. Which of the following banks is categorized as a 22. Which of the following is an instrument of the
Small Finance Bank (SFB)? money market?
a) HDFC Bank a) Shares
b) ICICI Bank b) Bonds
c) AU Small Finance Bank c) Treasury Bills
d) Bank of Baroda d) Preference Shares
e) Punjab National Bank e) Derivatives

16. Which among the following is NOT a public 23. What does CRR stand for in banking?
sector bank? a) Cash Reserve Rate
a) Indian Overseas Bank b) Current Reserve Ratio
b) Union Bank of India c) Cash Reserve Ratio
c) Punjab & Sind Bank d) Currency Retention Rate
d) Axis Bank e) Credit Risk Ratio
e) UCO Bank
24. What is the full form of NPA in banking?
17. The Real-Time Gross Settlement (RTGS) system a) Non-Performing Asset
is used for transactions above what minimum b) Net Profit Assessment
amount? c) National Payment Authority
a) ₹1,00,000 d) Non-Public Account
b) ₹2,00,000 e) Nominal Payment Agreement
c) ₹5,00,000
d) ₹50,000 25. Under the Negotiable Instruments Act, 1881, a
e) No minimum limit cheque is valid for how many months from the date
of issue?
18. Which organization regulates the National a) 1 month
Electronic Funds Transfer (NEFT) system in India? b) 3 months
a) NPCI c) 6 months
b) SEBI d) 9 months
c) NABARD e) 12 months
d) RBI
e) Ministry of Finance 26. A dishonored cheque due to insufficient funds
falls under which section of the Negotiable
19. Under the Pradhan Mantri Mudra Yojana Instruments Act, 1881?
(PMMY), which of the following is NOT a category of a) Section 13
loans? b) Section 20
a) Shishu c) Section 138
b) Kishor d) Section 25
c) Tarun e) Section 50
d) Vikram
e) None of the above 27. What is the minimum capital required to start a
Payment Bank in India?
20. What is the minimum deposit required to open a a) ₹50 crore
Sukanya Samriddhi Account? b) ₹100 crore
a) ₹100 c) ₹200 crore
b) ₹250 d) ₹500 crore
c) ₹500 e) ₹1000 crore
d) ₹1,000
e) ₹1,500 28. Which of the following is NOT regulated by RBI?
a) Commercial Banks
21. The primary market deals with? b) Non-Banking Financial Companies (NBFCs)
a) Buying and selling of old securities c) Cooperative Banks
b) Buying and selling of foreign exchange d) Stock Market
c) Issuance of new securities e) Small Finance Banks
d) Interbank lending

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29. Which among the following is the regulatory 36. What is the maximum loan limit for education
body for cooperative banks in India? under priority sector lending?
a) SEBI a) ₹5 lakh
b) IRDAI b) ₹10 lakh
c) NABARD c) ₹15 lakh
d) RBI d) ₹20 lakh
e) Ministry of Finance e) ₹25 lakh

30. Which organization provides insurance to 37. Which of the following is an example of
depositors in Indian banks? phishing?
a) SEBI a) Sending fake emails to steal banking details
b) IRDAI b) Installing malware on ATMs
c) NABARD c) Hacking into banking servers
d) DICGC d) Counterfeit currency circulation
e) RBI e) Unauthorized online stock trading

31. Which of the following is NOT a component of 38. The RBI Ombudsman scheme is designed to
the Liquidity Adjustment Facility (LAF)? handle complaints related to?
a) Repo Rate a) Insurance disputes
b) Reverse Repo Rate b) Mutual fund fraud
c) Marginal Standing Facility (MSF) c) Banking services
d) Open Market Operations (OMO) d) Stock market manipulation
e) Bank Rate e) Foreign exchange transactions

32. What is the current Cash Reserve Ratio (CRR) 39. The SWIFT system is used for?
maintained by banks in India? a) Domestic fund transfers
(Refer to the latest RBI guidelines for updated b) Cross-border payments
rates) c) Online shopping payments
a) 3.0% d) Issuing credit cards
b) 4.0% e) Rural banking transactions
c) 4.5%
d) 5.0% 40. What is the full form of LIBOR, which was
e) 5.5% widely used in global banking?
a) London Interbank Offered Rate
33. The term "KYC" in banking stands for? b) Lending Interest Bank Official Rate
a) Keep Your Credit c) Legal International Bank Overdraft Rate
b) Know Your Currency d) Large Industrial Banking Overhead Rate
c) Know Your Customer e) Liquid Interest Banking Official Rate
d) Key Yield Certificate
e) Knowledge of Your Credit 41. Which regulatory body supervises Non-Banking
Financial Companies (NBFCs) in India?
34. Under Bharat Bill Payment System (BBPS), a) SEBI
customers can pay for? b) IRDAI
a) Electricity Bills c) NABARD
b) Gas Bills d) RBI
c) Water Bills e) Ministry of Finance
d) Broadband Bills
e) All of the above 42. Which of the following is NOT an NBFC in India?
a) LIC Housing Finance
35. What is the current priority sector lending target b) Bajaj Finance
for scheduled commercial banks? c) Mahindra & Mahindra Financial Services
a) 20% of ANBC d) State Bank of India
b) 30% of ANBC e) HDB Financial Services
c) 40% of ANBC
d) 50% of ANBC 43. Which two banks merged to form Bank of
e) 75% of ANBC Baroda in 2019?
a) Dena Bank & Vijaya Bank

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b) Andhra Bank & Corporation Bank c) IMPS

c) Allahabad Bank & Indian Bank d) BBPS
d) PNB & OBC e) CTS
e) Canara Bank & Syndicate Bank
51. Which committee recommended the
44. Which bank acquired Lakshmi Vilas Bank in nationalization of banks in India?
2020? a) Narasimham Committee
a) SBI b) Rangarajan Committee
b) HDFC Bank c) Gadgil Committee
c) DBS Bank d) Gopalakrishnan Committee
d) Kotak Mahindra Bank e) None of the above
e) ICICI Bank
52. The Narasimham Committee (1991) focused
45. Which sector gets the highest allocation under on?
Priority Sector Lending (PSL)? a) Banking Reforms
a) MSMEs b) Insurance Sector Reforms
b) Agriculture c) Agricultural Credit Reforms
c) Education d) Industrial Policy Reforms
d) Housing e) Taxation Reforms
e) Renewable Energy
53. What is the full form of IFSC, used in banking
46. What is the loan limit for MSME units under transactions?
priority sector lending (PSL)? a) Indian Financial System Code
a) ₹5 crore b) International Fund Settlement Code
b) ₹10 crore c) Instant Fund Settlement Code
c) ₹20 crore d) Indian Fiscal Security Code
d) ₹25 crore e) Internal Finance Settlement Code
e) ₹50 crore
54. Bancassurance refers to?
47. The Foreign Exchange Management Act (FEMA) a) Bank employees selling insurance
was enacted in which year? b) Insurance for bank deposits
a) 1991 c) RBI’s monetary policy tool
b) 1999 d) Foreign exchange reserve management
c) 2002 e) Loan waiver schemes
d) 2005
e) 2010 55. What is Basel III primarily focused on?
a) Minimum Capital Requirements
48. Which organization manages foreign exchange b) Loan Recovery Mechanism
reserves in India? c) Monetary Policy Reforms
a) SEBI d) Priority Sector Lending
b) RBI e) Financial Inclusion
c) EXIM Bank
d) Ministry of Finance 56. In banking, CAMELS rating is used for?
e) NABARD a) Assessing bank performance
b) Identifying loan defaulters
49. Which organization developed the Unified c) Tracking forex reserves
Payments Interface (UPI)? d) Supervising NBFCs
a) RBI e) Monitoring mutual funds
b) SEBI
c) NPCI 57. What is the tenure of loans under the Kisan
d) NITI Aayog Credit Card (KCC) Scheme?
e) NABARD a) 1 year
b) 3 years
50. Which mobile payment system allows interbank c) 5 years
mobile fund transfers in India? d) 7 years
a) NEFT e) 10 years
b) RTGS

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58. The SARFAESI Act, 2002 is related to? a) Online shopping scams
a) Recovery of bad loans b) Credit card fraud
b) Digital banking frauds c) ATM skimming
c) Microfinance lending d) Mobile banking fraud
d) Insurance sector reforms e) Loan default fraud
e) Foreign direct investment
66. The Prevention of Money Laundering Act
59. Which of the following is an international (PMLA), 2002 is enforced by?
financial institution? a) SEBI
a) NABARD b) RBI
b) SIDBI c) Enforcement Directorate
c) IMF d) CBI
d) SEBI e) Finance Ministry
e) EXIM Bank
67. What is the full form of UPI?
60. Which institution in India promotes exports and a) Universal Payment Interface
imports? b) Unified Payments Infrastructure
a) RBI c) Unified Payments Interface
b) SIDBI d) Universal Processing Integration
c) NABARD e) Ultimate Payment Identifier
d) EXIM Bank
e) IRDAI 68. What does AePS stand for in digital banking?
a) Aadhaar-enabled Payment System
61. What is the maximum stake foreign investors b) Automated Electronic Payment Service
can hold in a private sector bank in India? c) Alternative e-Payment Scheme
a) 26% d) Aadhaar Economic Payment System
b) 49% e) Advanced e-Payment System
c) 74%
d) 100% 69. What does NACH stand for?
e) No limit a) National Automated Clearing House
b) New Automated Credit Housing
62. What is the minimum capital requirement for c) National Account Clearing House
setting up a Small Finance Bank (SFB)? d) National Automated Credit Handling
a) ₹100 crore e) None of the above
b) ₹200 crore
c) ₹300 crore 70. What is the minimum amount required to invest
d) ₹500 crore in Sovereign Gold Bonds (SGBs)?
e) ₹1,000 crore a) 1 gram
b) 5 grams
63. What is the minimum age to open an account c) 10 grams
under Pradhan Mantri Jan Dhan Yojana (PMJDY)? d) 25 grams
a) 5 years e) 50 grams
b) 10 years
c) 15 years 71. Which international financial institution provides
d) 18 years loans to developing countries for infrastructure
e) 21 years projects?
a) International Monetary Fund (IMF)
64. Under the Atal Pension Yojana (APY), what is b) World Bank
the maximum monthly pension a subscriber can c) Asian Development Bank (ADB)
receive? d) BRICS Bank
a) ₹2,000 e) WTO
b) ₹3,000
c) ₹4,000 72. The International Monetary Fund (IMF) primarily
d) ₹5,000 helps countries in managing?
e) ₹7,000 a) Long-term economic growth
b) Short-term balance of payments crises
65. SIM Swap fraud is associated with? c) Trade agreements

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d) Climate change policies

e) Infrastructure development 80. Under the Sukanya Samriddhi Yojana (SSY), the
account can be opened for a girl child aged?
73. Which entity operates the Bharat Bill Payment a) 0-5 years
System (BBPS)? b) 0-10 years
a) RBI c) 0-12 years
b) NPCI d) 10-18 years
c) SEBI e) 5-15 years
d) IRDAI
e) NITI Aayog 81. The Mudra Yojana provides loans under which
three categories?
74. The Consumer Price Index (CPI) measures? a) Shishu, Yuva, Samriddhi
a) Industrial production b) Shishu, Kishor, Tarun
b) Inflation based on retail prices c) Pratham, Vikas, Sampann
c) Bank lending rates d) Swaraj, Tarun, Dhanraj
d) Export and import values e) Start-up, Business, Expansion
e) Foreign exchange reserves
82. What was the original ownership status of the
75. What is the minimum Capital Adequacy Ratio RBI when it was established in 1935?
(CAR) for Indian banks under Basel III norms? a) Publicly owned
a) 7% b) Jointly owned by banks
b) 9% c) Privately owned
c) 10% d) Owned by the Government of India
d) 11.5% e) Owned by foreign entities
e) 15%
83. Which city was the initial location of the RBI's
76. Which of the following is an unsecured money Central Office before being moved to Mumbai in
market instrument? 1937?
a) Treasury Bill a) Chennai
b) Certificate of Deposit b) Delhi
c) Commercial Paper c) Kolkata
d) Call Money d) Bangalore
e) Government Bonds e) Pune

77. What is the current validity period of a Cheque 84. Which of the following is NOT one of the
and Demand Draft in India? functions stated in the RBI’s preamble?
a) 1 month a) Issuing banknotes
b) 3 months b) Supervising agricultural credit
c) 6 months c) Regulating the credit system
d) 9 months d) Maintaining price stability
e) 12 months e) Securing monetary stability

78. The Minimum Reserve System (MRS) used by 85. How many directors from Local Boards are part
RBI requires maintaining reserves of at least? of the Central Board of the RBI?
a) ₹50 crore a) Four
b) ₹100 crore b) Two
c) ₹200 crore c) Six
d) ₹500 crore d) Eight
e) ₹1,000 crore e) Five

79. The Malegam Committee was set up to study 86. What is the tenure of members appointed to the
issues related to? Local Boards of the RBI?
a) Microfinance institutions a) Two years
b) Banking mergers b) Four years
c) Inflation targeting c) Six years
d) Cryptocurrency regulations d) Three years
e) Priority sector lending e) Five years

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a) Lump sum deposit requirement

87. Which subsidiary of the RBI is responsible for b) Fixed interest rate
printing currency notes? c) Premature withdrawal penalties
a) ReBIT d) Interest earned is taxed
b) RBIH e) Shorter tenure options
c) BRBNMPL
d) DICGC 93. Which of the following accounts is specifically
e) IFTAS tied to an employer-employee arrangement?
a) Current account
88. What is the RBI’s primary goal when b) NRE account
formulating monetary policy? c) Salary account
a) Ensuring fiscal stability d) Fixed deposit account
b) Facilitating external trade e) Recurring deposit account
c) Balancing price stability and economic growth
d) Overseeing government revenues 94. What is a key feature of a Non-Resident
e) Supervising cooperative banks External (NRE) account?
a) Funds are maintained in INR but sourced from
89. Which body within the RBI is tasked with abroad
overseeing commercial banks, financial institutions, b) Income is taxed in India
and NBFCs? c) Maintained in foreign currency only
a) Central Board d) Non-transferable principal and interest
b) Board for Financial Supervision e) Used for earnings from India
c) Committee of Payment Systems
d) Standing Local Board Committee 95. Which type of account is best for NRIs who want
e) Supervisory Committee for Rural Banks to keep their deposits in foreign currency?
a) NRO account
90. How many training establishments are directly b) FCNR account
managed by the RBI? c) NRE savings account
a) Three d) Fixed deposit account
b) Four e) Current account
c) Five
d) Six 96. What is the main difference between Non-
e) Two Resident Ordinary (NRO) and Non-Resident External
(NRE) accounts regarding taxation in India?
91. Which fully-owned subsidiary of the RBI is a) Both are taxed on principal and interest
involved in technological innovation for the financial b) Only NRO accounts have taxable income in India
sector? c) Only NRE accounts are taxed in India
a) Reserve Bank Innovation Hub (RBIH) d) Both accounts are tax-free in India
b) Bharatiya Reserve Bank Note Mudran Pvt. Ltd. e) Only NRO accounts allow repatriation
(BRBNMPL)
c) Indian Financial Technology and Allied Services 97. What is the penalty for prematurely withdrawing
(IFTAS) funds from a fixed deposit (FD) or recurring deposit
d) Deposit Insurance and Credit Guarantee (RD) account?
Corporation (DICGC) a) Complete forfeiture of interest
e) ReBIT b) Conversion to a zero-interest account
c) Lower interest rate than originally agreed upon
91. Which type of bank account is suitable for d) Full loss of principal amount
traders and business owners who require frequent e) Extension of deposit maturity
transactions?
a) Savings account 98. What was the main reason for establishing the
b) Salary account National Payments Corporation of India (NPCI)?
c) Current account a) To promote cash transactions
d) Fixed deposit account b) To provide infrastructure for retail payments and
e) Recurring deposit account settlements
c) To regulate banking licenses in India
92. What feature distinguishes a fixed deposit (FD) d) To replace RBI in overseeing financial systems
account from a recurring deposit (RD) account? e) To focus on international payment systems

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b) Rs. 1.5 million

99. What are the key features of RuPay cards c) Rs. 2 million
introduced by NPCI? d) Rs. 2.5 million
a) Issued only for international use e) Rs. 3 million
b) Supports debit, credit, and prepaid cards
c) Limited to online payments 106. What is the stipulated timeframe for filing an
d) Cannot be used for contactless payments appeal against the Banking Ombudsman’s award?
e) Does not allow global acceptance a) 15 days
b) 30 days
100. Which NPCI product enables government c) 45 days
agencies to make direct benefit transfers for central d) 60 days
and state-sponsored schemes? e) 90 days
a) APBS
b) UPI 107. Who appoints Banking Ombudsmen under the
c) NFS Banking Ombudsman Scheme, 2006?
d) NETC a) Reserve Bank of India
e) Bharat Bill Payment System b) Ministry of Finance
c) State Governments
101. Which NPCI product is considered a d) Indian Banks' Association
revolutionary payment system for real-time e) High Courts
transactions in India?
a) Immediate Payment Service (IMPS) 108. Which of the following Requirements that
b) Unified Payments Interface (UPI) banks prominently display in their branches under
c) Bharat Bill Payment System the Banking Ombudsman Scheme?
d) RuPay a) Details of the Scheme
e) AePS b) Ombudsman’s contact information
c) Complaint filing procedure
102. What technology does the National Electronic d) Availability of grievance forms
Toll Collection (NETC) program use for toll e) All of the Above
payments?
a) Optical Character Recognition (OCR) 109. What does the abbreviation AEPS stand for?
b) Barcodes a) Aadhar Enabled Payment Service
c) Radio-Frequency Identification (RFID) b) Aadhar Enabled Payment System
d) Biometric verification c) Advanced Electronic Payment System
e) QR Codes d) Automated Electronic Payment Service
e) Alternative Electronic Payment System
103. Which NPCI product provides a unified
platform for recurring bill payments like electricity, 110. What is the full form of PPI in financial
telecom, and insurance? terminology?
a) Unified Payments Interface (UPI) a) Public Payment Institution
b) Bharat Bill Payment System b) Prepaid Payment Instrument
c) Immediate Payment Service (IMPS) c) Payment Processing Infrastructure
d) Aadhaar Payment Bridge System d) Primary Payment Interface
e) National Financial Switch (NFS) e) Personal Payment Integration

104. In which year did NPCI take over the 111. Which of the following accurately describes
operations of the National Financial Switch (NFS)? NBFC?
a) 2007 a) Non-Banking Financial Corporation
b) 2009 b) Non-Banking Fiscal Company
c) 2010 c) Non-Banking Financial Company
d) 2011 d) National Banking Financial Corporation
e) 2013 e) Network-Based Financial Centre

105. What is the maximum compensation a Banking 112. What is the key purpose of Tier I capital in a
Ombudsman can award for actual financial losses bank's structure?
under the Scheme? a) Supports hybrid instruments
a) Rs. 1 million b) Absorbs operational risks

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c) Provides core capital support b) Operating profit before tax

d) Derived from subordinated debt c) Net interest income divided by average interest
e) Linked to revaluation reserves earning assets
d) Interest income minus operating expenses
113. What does the Basel Capital Accord primarily e) Cash reserve ratio
address?
a) Banking taxation systems 116. Which of the following ratios indicates the
b) Inflation control measures efficiency of non-interest expense management in a
c) Risk-based capital adequacy bank?
d) Currency exchange monitoring a) Cost income ratio
e) Standardized audit requirements b) Yield to maturity
c) Return on equity
114. What does the term "Operating profit before d) Funding volatility ratio
provisions" refer to in banking terminology? e) Net Non-Interest Income
a) Net income minus dividends
b) Sum of total income and expenses 117. In which year the first accord, Basel I was
c) Net of total income and total operating expenses issued?
d) Net profit after tax a) 1990
e) Income after loan provisions b) 2000
c) 1955
115. Which of the following best defines "Net d) 1981
Interest Margin"? e) 1988
a) Yield on liquid assets

Answer Keys

1. c 2. c 3. b 4. b 5. c 6. c 7. d 8. b 9. a 10. c
11. a 12. b 13. c 14. b 15. c 16. d 17. b 18. d 19. d 20. b
21. c 22. c 23. a 24. a 25. b 26. c 27. c 28. d 29. d 30. d
31. e 32. b 33. c 34. e 35. c 36. b 37. a 38. c 39. b 40. a
41. d 42. d 43. a 44. c 45. b 46. b 47. b 48. b 49. c 50. c
51. c 52. a 53. a 54. a 55. a 56. a 57. c 58. a 59. c 60. d
61. c 62. b 63. b 64. d 65. d 66. c 67. a 68. a 69. a 70. a
71. b 72. b 73. b 74. b 75. d 76. c 77. b 78. b 79. a 80. a
81. b 82. c 83. c 84. b 85. a 86. b 87. c 88. c 89. b 90. b
91. a 92. c 93. a 94. a 95. b 96. b 97. c 98. b 99. b 100. b
101. b 102. c 103. b 104. b 105. c 106. b 107. a 108. e 109. b 110. b
111. c 112. c 113. c 114. c 115. c 116. a 117. e

Solutions

1. (c) The first bank established in India was the • In 1921, these three banks—Bank of Bengal,
Bank of Hindustan, which was set up in 1770 in Bank of Bombay, and Bank of Madras—were merged
Calcutta (now Kolkata). It was founded by the to form the Imperial Bank of India. This marked
British agency house Alexander and Co., making it a significant consolidation in the banking sector and
the earliest known banking institution in the laid the foundation for a more organized financial
country. However, the bank could not sustain itself system in the country.
for long and eventually ceased operations in 1832. • In 1955, the Imperial Bank of India was further
• Later, in 1806, another significant banking restructured and renamed as the State Bank of
institution was established in India, known as the India under the guidance of the Government of
Bank of Calcutta. This bank was later renamed India. This transformation was aimed at creating a
Bank of Bengal in 1809. Along with the Bank of stronger and more extensive banking network to
Bombay (established in 1840) and the Bank of support India's growing economy.
Madras (established in 1843), the Bank of Bengal
played a crucial role in the banking system during 2. (c) The Imperial Bank of India was formed in
British rule. 1921 by merging three presidency banks:

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• Bank of Bengal (established in 1806)

• Bank of Bombay (established in 1840) 5. (c) In 1996, the Reserve Bank of India (RBI)
• Bank of Madras (established in 1843) introduced the concept of Local Area Banks
These presidency banks were among the earliest (LABs) to promote financial inclusion in rural and
banking institutions in India during British rule. The semi-urban areas. These banks were meant to
Imperial Bank of India functioned as a quasi-central bridge the gap between large commercial
bank until the Reserve Bank of India (RBI) was banks and rural credit institutions by providing
established in 1935. banking services in a few contiguous districts.
In 1955, under the State Bank of India Act, The key conditions set by RBI for Local Area Banks
1955, the Government of India and the included:
Reserve Bank of India took control of the • Minimum Capital Requirement: INR 5 Crore
Imperial Bank of India and renamed it as the State • Geographical Coverage: Limited to three
Bank of India (SBI). This move was aimed at contiguous districts
expanding banking services to rural areas and • Ownership: Established by individuals,
supporting the country’s economic development. corporate entities, trusts, or societies
• Regulation: Governed by the Banking
3. (b) The Reserve Bank of India (RBI) was Regulation Act, 1949, and RBI guidelines
established on April 1, 1935, under the provisions • Objective: To boost rural credit, small business
of the Reserve Bank of India Act, 1934. financing, and promote local economic growth
• The need for a central bank in India was first
proposed in 1926 by the Hilton Young 6. (c) The Banking Regulation Act, 1949, sets
Commission (also known as the Royal clear restrictions on the activities of commercial
Commission on Indian Currency and Finance). banks to ensure financial stability and prevent
Based on its recommendations, the Reserve Bank excessive risk-taking. While banks are allowed to
of India Act, 1934 was passed, leading to the accept deposits, grant loans, issue demand drafts,
establishment of the RBI in 1935. and operate savings accounts, direct investment
in stock markets is prohibited.
4. (b) The Banking Regulation Act, 1949, was Prohibition on Trading in Stock Markets:
originally introduced as the Banking Companies o Section 19(2) of the Banking Regulation Act,
Act, 1949, and later renamed the Banking 1949, prohibits banks from directly investing
Regulation Act, 1949. This law was enacted to in stock markets beyond a certain limit.
regulate all banking companies in India and o Banks can only invest in shares or companies
provided the Reserve Bank of India (RBI) with as part of their banking business, but they
authority over banking operations in the country. cannot engage in speculative trading.
Key Provisions of the Banking Regulation Act, o They are allowed to invest in government
1949: securities, bonds, and approved financial
• Regulation and Supervision: The Act gives RBI instruments but cannot act as stock market
the power to regulate, supervise, and control traders or speculators.
commercial banks in India.
• Licensing of Banks: No bank can operate 7. (d) The RBI uses monetary policy tools to
without a license from RBI. regulate money supply, control inflation, and
• Capital and Reserve Requirements: Banks stabilize the economy. The key monetary policy
must maintain minimum capital and reserves to tools include:
ensure financial stability. 1. Cash Reserve Ratio (CRR):
• Management and Corporate Governance: The o The percentage of a bank’s total deposits that
Act ensures proper management and governance of must be kept as reserves with RBI.
banks. o It influences liquidity in the banking system.
• Control Over Expansion: Banks must seek 2. Statutory Liquidity Ratio (SLR):
approval from RBI before opening new branches. o The percentage of a bank’s net demand and
• Mergers and Liquidation: The RBI can approve
time liabilities (NDTL) that must be
mergers, acquisitions, and voluntary maintained in liquid assets like cash, gold, or
liquidation of banks. government-approved securities.
• Nationalization of Banks (1969 and 1980): o It helps ensure liquidity and control credit
Though the Act was passed in 1949, it later
expansion.
facilitated the nationalization of banks in 1969
3. Repo Rate:
and 1980 to strengthen banking services across
o The rate at which RBI lends money to
India.
commercial banks against securities.
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o It is a key tool to control inflation and economic o RBI is the primary regulator of UPI, as it
growth. oversees all payment and settlement systems in
4. Open Market Operations (OMO): India.
o RBI buys or sells government securities in o It ensures compliance with financial regulations
the open market to regulate money supply and and security measures.
liquidity. • National Payments Corporation of India
(NPCI):
8. (b) The Monetary Policy Committee (MPC) o NPCI develops and operates the UPI
was established in 2016 under the Reserve Bank platform.
of India Act, 1934, following the o It is a non-profit organization under RBI's
recommendations of the Urjit Patel Committee. supervision, responsible for various retail payment
The MPC is responsible for setting the inflation systems in India, including RuPay, IMPS, and
target and deciding the monetary policy stance Aadhaar-enabled Payment Systems (AePS).
of the country.
12. (b) Immediate Payment Service (IMPS) is a
9. (a) A short-term financial instrument refers real-time interbank electronic funds transfer
to a financial asset that matures within one year system that allows customers to transfer money
and is used primarily for liquidity management and instantly, 24/7, including weekends and holidays.
short-term borrowing needs. It was launched in 2010 by the National
Why Treasury Bills (T-Bills) Are Short-Term Payments Corporation of India (NPCI) and is
Instruments? regulated by the Reserve Bank of India (RBI).
• Maturity Period: Treasury Bills are short-term
debt instruments issued by the Government of 13. (c) Senior Citizens Savings Scheme (SCSS)
India with maturities of 91 days, 182 days, and is a government-backed savings scheme
364 days. designed specifically for senior citizens (aged 60
• No Interest Payments: They are issued at a years and above) to provide them with a secure
discounted price and redeemed at face value, and regular income.
meaning the return is the difference between the Key Features of SCSS:
issue price and redemption value. • Eligibility:
• High Liquidity: Since T-Bills have a short • Available to Indian residents aged 60 years
maturity period and are backed by the government, and above.
they are considered highly liquid and risk-free • Individuals aged 55-60 years who have retired
investments. under a superannuation or VRS (Voluntary
Retirement Scheme) can also invest.
10. (c) Statutory Liquidity Ratio (SLR) is the • Investment Limit:
percentage of a bank's Net Demand and Time • Minimum deposit: ₹1,000
Liabilities (NDTL) that it must maintain in liquid • Maximum deposit: ₹30 lakh (earlier ₹15 lakh,
assets before offering credit to customers. This is a revised in Budget 2023)
regulatory requirement set by the Reserve Bank • Tenure:
of India (RBI) under the Banking Regulation • The lock-in period is 5 years, extendable by 3
Act, 1949. more years.
Forms in Which SLR Can Be Maintained:
• Gold Reserves – Banks can maintain a portion of 14. (b) Pradhan Mantri Jan Dhan Yojana
SLR in the form of gold. (PMJDY) was launched on August 28, 2014, by
• Government Securities (G-Secs, Bonds, the Government of India to provide universal
Treasury Bills, etc.) – The most common form in banking access and promote financial inclusion,
which banks maintain their SLR is approved especially for the unbanked population.
government securities, as these provide liquidity Key Features of PMJDY Accounts:
and safety. • Zero-Balance Account:
• Accounts can be opened with zero balance, but
11. (a) UPI (Unified Payments Interface) is a to avail cheque facilities, the account holder must
real-time payment system that facilitates maintain a minimum balance.
instant money transfers between bank • Maximum Deposit Limit:
accounts through mobile devices. It was launched • The maximum deposit amount allowed in a
in 2016 by NPCI, under the guidance of RBI. PMJDY account is ₹50,000.
Regulation and Operation: • Deposits beyond this limit require conversion to
• Reserve Bank of India (RBI): a regular savings account, subject to KYC norms.

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support to micro and small enterprises (MSEs).

15. (c) Small Finance Banks (SFBs) are a It offers loans under three categories:
category of banks created by the Reserve Bank of • Shishu – Loans up to ₹50,000
India (RBI) to serve small businesses, • Kishor – Loans from ₹50,000 to ₹5 lakh
unorganized sectors, low-income households, and • Tarun – Loans from ₹5 lakh to ₹10 lakh
farmers who lack access to regular banking
services. 20. (b) The Sukanya Samriddhi Yojana (SSY) is
Key Points About AU Small Finance Bank: a government-backed savings scheme for girl
• AU Small Finance Bank was originally AU children under the Beti Bachao Beti Padhao
Financiers, a non-banking financial company initiative.
(NBFC). Key Features:
• It received an SFB license from RBI in 2015 • Minimum deposit: ₹250 per year
and started operations as a bank in 2017. • Maximum deposit: ₹1.5 lakh per year
• It provides small loans, micro-financing, and • Interest Rate: Around 8% p.a. (subject to
retail banking services. quarterly revision)
• Maturity: 21 years from the account opening
16. (d) A Public Sector Bank (PSB) is one where date.
the Government of India holds more than 50%
ownership. 21. (c) The primary market is where new
Among the given options, the following are Public securities (shares, bonds, or debentures) are
Sector Banks: issued for the first time by companies or
• Indian Overseas Bank (IOB) – PSU bank governments.
• Union Bank of India – PSU bank • Example: Initial Public Offerings (IPOs).
• Punjab & Sind Bank – PSU bank • Buying and selling of old securities → Happens
• UCO Bank – PSU bank in the secondary market.
However, Axis Bank is a private sector bank, as • Foreign exchange & interbank lending →
it is not owned by the government. It was Related to the forex and money markets.
originally founded as UTI Bank in 1993 and later • Government bond trading → Happens in both
renamed Axis Bank. primary and secondary markets.

17. (b) RTGS (Real-Time Gross Settlement) is a 22. (c) The money market deals with short-term
payment system used for high-value, time- financial instruments (less than one year
sensitive transactions. maturity).
Key Features of RTGS: • Treasury Bills (T-Bills) are issued by the
• Minimum transaction amount: ₹2,00,000 government and have maturities of 91 days, 182
• Maximum limit: No upper limit (set by individual days, and 364 days.
banks) • Shares, Bonds, Preference Shares,
• Processing: Transactions are settled instantly Derivatives → These are long-term instruments,
and individually (not in batches). making them part of the capital market, not the
• Availability: 24x7 as per RBI guidelines. money market.

18. (d) NEFT (National Electronic Funds 23. (a) Cash Reserve Ratio (CRR) is the
Transfer) is a nationwide electronic fund percentage of a bank’s total deposits that it
transfer system that enables individuals to must keep as reserves with RBI in cash form.
transfer money from one bank account to another. • CRR helps control inflation and liquidity in
Key Features of NEFT: the economy.
• Regulated by: Reserve Bank of India (RBI)
• Processing: Transactions occur in batches every 24. (a) A Non-Performing Asset (NPA) is a loan
half hour. or advance where the borrower has not made
• Availability: 24x7, 365 days a year (since Dec payments (principal or interest) for 90 days or
2019). more.
• No minimum or maximum limit for Impact of NPAs:
transactions. • Reduces bank profitability.
• Affects credit availability.
19. (d) The Pradhan Mantri Mudra Yojana • Weakens the banking sector.
(PMMY) was launched in 2015 to provide financial

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25. (b) As per RBI guidelines, a cheque remains 33. (c) KYC (Know Your Customer) is a
valid for 3 months from the date of issue. mandatory process where banks verify customers’
• If a cheque is presented after 3 months, it is identity before allowing them to open an account or
called a stale cheque and cannot be processed. perform financial transactions. This prevents fraud
and money laundering.
26. (c) Section 138 of the Negotiable Instruments
Act, 1881 deals with the dishonor of cheques due to 34. (e) The Bharat Bill Payment System (BBPS)
insufficient funds. If a cheque is bounced and is an integrated bill payment system launched by
remains unpaid even after a legal notice is issued to NPCI. Customers can pay for:
the drawer within the stipulated period, it can lead • Electricity Bills
to criminal liability, including imprisonment up to 2 • Gas Bills
years or a monetary penalty. • Water Bills
• Broadband Bills
27. (b) According to RBI guidelines, a Payment • DTH and other utility payments
Bank in India must have a minimum paid-up capital
of ₹100 crore to start operations. These banks are 35. (c) As per RBI guidelines, Scheduled
allowed to accept small deposits but cannot issue Commercial Banks must lend 40% of their
loans or credit cards. Adjusted Net Bank Credit (ANBC) to Priority
Sectors like agriculture, MSMEs, education, housing,
28. (d) RBI regulates Commercial Banks, NBFCs, etc. For Regional Rural Banks (RRBs) and
Cooperative Banks, and Small Finance Banks. Small Finance Banks (SFBs), this target is
• Stock Market is regulated by SEBI (Securities 75%.
and Exchange Board of India), not RBI.
36. (b) Under Priority Sector Lending (PSL),
29. (d) The regulation of cooperative banks in India banks can provide education loans up to ₹10 lakh
was transferred to RBI under the Banking for studies in India and ₹20 lakh for studies
Regulation (Amendment) Act, 2020. Earlier, abroad. Loans beyond this amount do not qualify
NABARD also played a supervisory role, but now under PSL norms.
RBI has direct regulatory control over them.
37. (a) Phishing is a cybercrime in which attackers
30. (d) DICGC, a wholly-owned subsidiary of RBI, send fraudulent emails, messages, or websites that
provides insurance cover for deposits up to ₹5 lakh appear to be from legitimate sources (like banks or
per depositor per bank in case of bank failure. government organizations) to trick individuals into
revealing sensitive information such as usernames,
31. (e) The Liquidity Adjustment Facility (LAF) passwords, and banking details.
is a tool used by RBI to control liquidity in the
banking system. It includes: 38. (c) The RBI Integrated Ombudsman
• Repo Rate (short-term borrowing rate for banks) Scheme, 2021 is a grievance redressal mechanism
• Reverse Repo Rate (rate at which banks deposit for complaints related to banking services. It covers
surplus funds with RBI) issues like:
• Marginal Standing Facility (MSF) (emergency • Delayed or wrongful deductions from accounts
borrowing by banks) • Unauthorized transactions
• Open Market Operations (OMO) (buying and • Issues with digital payments
selling of government securities) • Deficiencies in banking services
Bank Rate is a separate tool used for long-term
borrowing by commercial banks and is not a part of 39. (b) SWIFT (Society for Worldwide
LAF. Interbank Financial Telecommunication) is an
international messaging system used by banks and
32. (b) CRR (Cash Reserve Ratio) is the financial institutions for secure cross-border
percentage of a bank’s Net Demand and Time payments. It does not transfer money but
Liabilities (NDTL) that must be kept as a reserve facilitates communication between banks regarding
with RBI. Banks cannot use this amount for lending transactions.
or investment. • Domestic fund transfers – NEFT/RTGS/IMPS are
Reserve Ratios used for domestic transfers.
CRR : 4.00% • Online shopping payments – Payment gateways
SLR : 18.00% handle this.

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• Issuing credit cards – Managed by banks and 46. (b) As per RBI's Priority Sector Lending
card networks (Visa, Mastercard). (PSL) norms, the maximum loan amount eligible
• Rural banking transactions – Handled by for MSMEs under PSL is:
NABARD and regional rural banks. • ₹10 crore for manufacturing and service
enterprises.
40. (a) LIBOR (London Interbank Offered Rate) • For export-oriented MSMEs, the limit is ₹20
was a global benchmark interest rate used for crore.
interbank lending and financial contracts, including
loans and derivatives. It has been phased out 47. (b) The Foreign Exchange Management Act
since 2021 and replaced by SOFR (Secured (FEMA) was enacted in 1999 and came into effect
Overnight Financing Rate). on June 1, 2000. It replaced the earlier Foreign
Exchange Regulation Act (FERA), 1973, which
41. (d) The Reserve Bank of India (RBI) is the was stricter.
primary regulator of Non-Banking Financial Key Features of FEMA:
Companies (NBFCs) in India. It ensures • Regulates foreign exchange transactions in India.
compliance with financial regulations, capital • Simplifies rules for foreign investment and trade.
adequacy norms, and risk management. • Promotes the orderly development of the foreign
• SEBI – Regulates the stock market. exchange market.
• IRDAI – Regulates the insurance sector.
• NABARD – Focuses on rural banking and 48. (b) The Reserve Bank of India (RBI) is
agriculture finance. responsible for managing India’s foreign
• Ministry of Finance – Oversees policy-making exchange reserves, which include:
but does not regulate NBFCs directly. • Foreign currency assets (USD, Euro, etc.).
• Gold reserves.
42. (d) State Bank of India (SBI) is a scheduled • Special Drawing Rights (SDRs) with the IMF.
commercial bank, not an NBFC. NBFCs (Non- • Reserve Tranche Position (RTP) in the IMF.
Banking Financial Companies) provide financial RBI manages these reserves to maintain exchange
services but cannot accept demand deposits rate stability and ensure India's economic security.
(like savings accounts).
49. (c) The Unified Payments Interface (UPI)
43. (a) In 2019, Dena Bank and Vijaya Bank was developed by the National Payments
merged with Bank of Baroda as part of the Corporation of India (NPCI) and launched in
Indian banking consolidation strategy. April 2016.
• Andhra Bank & Corporation Bank – Merged UPI allows instant real-time fund transfers
with Union Bank of India. between banks using mobile devices,
• Allahabad Bank & Indian Bank – Merged with eliminating the need for bank account details. It is
Indian Bank. widely used for digital payments in India.
• PNB & OBC – PNB merged with OBC & United
Bank of India. 50. (c) The Immediate Payment Service (IMPS)
• Canara Bank & Syndicate Bank – Merged with is an instant interbank electronic fund transfer
Canara Bank. system in India, launched by NPCI in 2010. It
works 24x7, including on bank holidays, and allows
44. (c) In November 2020, Lakshmi Vilas Bank transfers through:
(LVB) was merged with DBS Bank India Ltd (a • Mobile banking
subsidiary of DBS Singapore) after financial • Internet banking
instability in LVB. • ATM
• SMS
45. (b) Under Priority Sector Lending (PSL) IMPS is faster than NEFT and does not require a
guidelines by RBI, banks must allocate at least: beneficiary to be pre-registered, unlike RTGS.
• 18% of Adjusted Net Bank Credit (ANBC) to • NEFT – Works in batches, not instant.
Agriculture – The highest sectoral allocation under • RTGS – For high-value transfers only (₹2 lakh
PSL. minimum).
• MSMEs, education, housing, and renewable energy • BBPS (Bharat Bill Payment System) – Used for
receive lower allocations. bill payments, not fund transfers.
• CTS (Cheque Truncation System) – Used for
digital clearing of cheques.

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51. (c) The Gadgil Committee (1969) agricultural needs. The standard tenure of a
recommended the nationalization of banks to KCC loan is 5 years, but it can be extended.
improve credit flow to priority sectors like • 1 year – Too short for KCC loans.
agriculture, small-scale industries, and exports. • 3 years – Less common.
Based on this recommendation, the Indian • 7 years, 10 years – Too long for KCC loans.
government nationalized 14 major banks in
1969. 58. (a) The SARFAESI Act (Securitization and
• Narasimham Committee – Focused on banking Reconstruction of Financial Assets and
sector reforms (1991, 1998). Enforcement of Security Interest Act, 2002)
• Rangarajan Committee – Focused on financial allows banks to recover bad loans (NPAs) without
sector reforms. court intervention by:
• Gopalakrishnan Committee – Related to • Seizing and auctioning assets of defaulters.
financial inclusion. • Helping banks recover dues quickly from non-
performing assets (NPAs).
52. (a) The Narasimham Committee (1991) was
set up to suggest banking sector reforms in 59. (c) The International Monetary Fund (IMF)
India. Its recommendations included: is an international financial institution that:
• Reducing CRR and SLR to free up more funds • Provides financial assistance to countries in
for lending. crisis.
• Introduction of prudential norms for NPAs and • Promotes global monetary cooperation.
capital adequacy. • Maintains exchange rate stability.
• Encouraging private and foreign banks in
India. 60. (d) The Export-Import Bank of India (EXIM
Bank) was established in 1982 to promote India’s
53. (a) IFSC (Indian Financial System Code) is international trade. It provides:
a unique 11-character code used for identifying • Financial assistance for exporters and
bank branches in electronic payment systems like importers.
NEFT, RTGS, and IMPS. • Overseas investment financing.
• Export credit guarantees.
54. (a) Bancassurance is a partnership between a
bank and an insurance company, where bank 61. (c) As per RBI guidelines, the Foreign Direct
employees sell insurance products (life, health, Investment (FDI) limit in private sector banks
or general insurance) to their customers. is 100%, subject to:
• Automatic route up to 49%.
55. (a) The Basel III Accord is a set of banking • Government approval for 49% to 74%.
regulations developed by the Bank for
International Settlements (BIS) to strengthen 62. (b) As per RBI guidelines, the minimum
the banking system by: paid-up capital requirement for setting up a
• Increasing minimum capital requirements for Small Finance Bank (SFB) is ₹200 crore.
banks. Key Points about Small Finance Banks (SFBs):
• Improving risk management and stress • The initial minimum capital requirement was ₹100
testing. crore, but RBI revised it to ₹200 crore in 2021.
• Enhancing liquidity standards. • Purpose: To provide basic banking services to
small businesses, farmers, MSMEs, and low-income
56. (a) CAMELS rating system is used by RBI to groups.
evaluate the financial health of banks based on six • Regulated by: RBI under the Banking
factors: Regulation Act, 1949.
• Capital Adequacy • Examples of SFBs in India: AU Small Finance
• Asset Quality Bank, Ujjivan SFB, Equitas SFB, Jana SFB, and ESAF
• Management Efficiency SFB.
• Earnings
• Liquidity 63. (b) Under Pradhan Mantri Jan Dhan Yojana
• Sensitivity to Market Risk (PMJDY), any Indian citizen aged 10 years or
above can open a bank account. However, minors
57. (c) he Kisan Credit Card (KCC) Scheme (below 18 years) need a guardian to operate the
provides farmers with short-term credit for account until they reach adulthood.
Key Features of PMJDY Accounts:

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• Zero balance savings account (no minimum (NPCI) and launched in 2016. It allows instant
balance required). money transfers between bank accounts using
• RuPay debit card issued for transactions. a mobile phone without needing bank account
• Overdraft facility of up to ₹10,000 (for eligible details.
account holders).
• Accidental insurance cover of ₹2 lakh. 68. (a) Aadhaar-enabled Payment System
• Life insurance cover of ₹30,000 (for accounts (AePS) is a banking service that allows customers
opened before 2015). to perform financial transactions using their
Aadhaar number and biometric authentication.
64. (d) Atal Pension Yojana (APY) is a It is operated by NPCI (National Payments
government-backed pension scheme launched in Corporation of India) and primarily benefits rural
2015 to provide financial security to unorganized and unbanked populations.
sector workers after retirement. The scheme
guarantees a fixed monthly pension ranging from 69. (a) National Automated Clearing House
₹1,000 to ₹5,000, depending on the subscriber’s (NACH) is a centralized electronic payment system
contribution. developed by the National Payments
Key Features of APY: Corporation of India (NPCI). It is used for bulk
• Eligibility: Open to Indian citizens aged 18 to 40 and recurring transactions, such as salary
years. payments, pension disbursements, and utility bill
• Contribution Period: Until the age of 60 years. payments.
• Government Co-contribution: Initially, the Key Features of NACH:
government contributed for eligible subscribers, but • Automates high-volume transactions (salaries,
this benefit ended in 2016. pensions, EMIs, subsidies, etc.).
• Payout Options: Fixed pension amounts of • Works for both debit and credit transactions.
₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000 • Used by banks, financial institutions, and
(maximum) per month. government agencies.
• Faster processing than traditional ECS
65. (d) SIM Swap Fraud is a type of mobile (Electronic Clearing Service).
banking fraud where criminals duplicate a
victim’s SIM card to gain access to their bank 70. (a) Sovereign Gold Bonds (SGBs) are
accounts and sensitive financial information. government-backed securities issued by the
• Fraudsters collect personal details (via phishing, Reserve Bank of India (RBI) on behalf of the
social engineering, or hacking). Government of India. They are an alternative to
• They request a duplicate SIM card from the physical gold investments and provide fixed
mobile service provider, pretending to be the victim. interest along with the benefit of gold price
• Once activated, they receive OTP (One-Time appreciation.
Passwords) and bank alerts on the new SIM.
• They access mobile banking apps and perform 71. (b) The World Bank is an international
unauthorized transactions. financial institution that provides loans and grants
to developing countries for infrastructure
66. (c) The Prevention of Money Laundering Act projects, such as:
(PMLA), 2002 was enacted to prevent money • Roads, bridges, and highways.
laundering and financial crimes in India. The • Water supply and sanitation.
Enforcement Directorate (ED) is the agency • Education and healthcare facilities.
responsible for enforcing this law. • Renewable energy and environmental
Key Features of PMLA, 2002: sustainability projects.
• Objective: To curb money laundering, financial
frauds, and terror financing. 72. (b) The International Monetary Fund (IMF)
• Authority: The Enforcement Directorate (ED) is a global financial institution that primarily helps
investigates money laundering cases and can seize countries manage short-term balance of
assets of offenders. payments (BoP) crises by providing financial
• Punishment: Includes imprisonment (up to 7 assistance and policy guidance.
years) and heavy fines. Key Functions of the IMF:
1. Provides emergency financial aid to countries
67. (a) Unified Payments Interface (UPI) is a facing a BoP crisis (when a country cannot meet its
real-time payment system developed by the external debt obligations or is running low on
National Payments Corporation of India foreign exchange reserves).

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2. Monitors global economic stability through its • Issued by: Corporates, primary dealers, and all-
Surveillance function. India financial institutions.
3. Offers technical assistance and financial policy • Tenure: Ranges from 7 days to 1 year.
advice to member nations. • Issued in denominations of ₹5 lakh or more.
4. Helps stabilize exchange rates and financial • Highly liquid and traded in the secondary
markets. market.
• Credit rating is mandatory (as it is unsecured).
73. (b) The Bharat Bill Payment System (BBPS)
is operated by the National Payments 77. (b) As per RBI guidelines, the validity period
Corporation of India (NPCI). It is a one-stop for a Cheque and Demand Draft (DD) in India
bill payment system that allows users to pay is 3 months from the date of issuance.
utility bills, such as: Key Points:
Key Features of BBPS: • Earlier validity: Before April 1, 2012, cheques
• Interoperable platform – Works across multiple and DDs were valid for 6 months.
banks and payment service providers. • Revised validity: RBI reduced the validity to
• 24x7 availability – Users can pay bills anytime. 3 months to prevent misuse and reduce the risk of
• Multiple payment modes – Supports fraud.
debit/credit cards, UPI, IMPS, wallets, and net • After 3 months: The cheque or DD becomes
banking. stale and cannot be processed unless revalidated
• Secure and standardized system – Managed by the issuer.
under RBI guidelines.
78. (b) The Minimum Reserve System (MRS) is
74. (b) The Consumer Price Index (CPI) is an the monetary policy framework under which the
economic indicator that measures inflation based Reserve Bank of India (RBI) issues currency
on retail prices of a selected basket of goods and notes. Under this system, RBI must maintain a
services. It reflects the changes in the cost of minimum reserve of ₹200 crore, but only ₹100
living for consumers. crore must be in the form of gold reserves.
Key Features of CPI: Breakdown of the Minimum Reserve:
• Tracks the price changes in essential items like • Gold reserves: ₹100 crore
food, clothing, housing, healthcare, education, and • Foreign currency reserves / Government-
transportation. approved securities: ₹100 crore
• Used by RBI to set monetary policy (e.g., • Total minimum reserve required: ₹200 crore
interest rates). Key Features of the Minimum Reserve System
• Published by the National Statistical Office (MRS):
(NSO), Ministry of Statistics and Programme • Introduced in 1956, replacing the earlier
Implementation (MoSPI). Proportional Reserve System.
• Allows RBI to issue currency beyond the
75. (d) The Capital Adequacy Ratio (CAR), also reserve limit, enabling flexibility in money supply
known as the Capital-to-Risk Weighted Assets management.
Ratio (CRAR), is a measure of a bank’s financial • Ensures confidence in the Indian currency, as
strength and stability. Under Basel III norms, part of the reserve is backed by gold.
Indian banks are required to maintain a minimum
CAR of 11.5%. 79. (a) The Malegam Committee was set up by
Breakdown of CAR under Basel III for Indian the Reserve Bank of India (RBI) in 2010 to
Banks: study issues related to Microfinance Institutions
• Regulatory Minimum (as per RBI guidelines): (MFIs) in India. The committee was chaired by
9% Y.H. Malegam and focused on addressing concerns
• Capital Conservation Buffer (CCB): 2.5% related to high-interest rates, lending practices,
• Total Requirement: 11.5% (9% + 2.5%) and borrower protection.
Key Recommendations of the Malegam
76. (c) Commercial Paper (CP) is an unsecured, Committee (2011):
short-term money market instrument issued by • Capping Interest Rates: Suggested a cap on
corporations, financial institutions, and large interest rates charged by MFIs to prevent usurious
businesses to meet short-term funding needs. lending practices.
Since it is not backed by any collateral, it is • Loan Size Limits: Recommended ₹50,000 as
considered an unsecured instrument. the maximum loan limit for a single borrower.
Key Features of Commercial Paper (CP):

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80. (a) The Sukanya Samriddhi Yojana (SSY) is • The Central Office is where the Governor sits and
a government-backed savings scheme launched where policies are formulated.
under the Beti Bachao Beti Padhao initiative. It is • Though originally privately owned, since
designed to promote savings for the future nationalisation in 1949, the Reserve Bank is fully
education and marriage of a girl child. owned by the Government of India.
Eligibility Criteria for SSY:
• The account can be opened for a girl child 84. (b) The preamble of the RBI outlines its primary
from birth up to 10 years of age. objectives, which include issuing currency,
• Only one account per girl child is allowed. maintaining monetary and price stability, and
• Parents/guardians can open an account for regulating the country’s credit system.
up to two girl children (exceptions exist for • Supervising agricultural credit is not
twins/triplets). mentioned in the preamble but is a function
carried out by institutions like NABARD.
81. (b) The Pradhan Mantri Mudra Yojana • The Preamble of the Reserve Bank of India
(PMMY) was launched in 2015 to provide describes the basic functions of the Reserve Bank
collateral-free loans to small businesses and as:
micro-enterprises. Under this scheme, loans are • "to regulate the issue of Bank notes and
categorized into three stages based on the keeping of reserves with a view to securing
growth and funding needs of the business: monetary stability in India and generally to
Three Categories of Mudra Loans: operate the currency and credit system of the
Shishu (Up to ₹50,000) country to its advantage; to have a modern
o For new businesses and start-ups. monetary policy framework to meet the
o Focuses on early-stage micro-enterprises. challenge of an increasingly complex
Kishor (₹50,001 to ₹5 lakh) economy, to maintain price stability while
o For growing businesses requiring additional keeping in mind the objective of growth."
capital.
o Suitable for business expansion and 85. (a) As per Section 8(1)(d) of the RBI Act,
operational needs. the Central Board includes four directors, one
Tarun (₹5 lakh to ₹10 lakh) each from the Local Boards representing the
o For well-established businesses looking for Northern, Southern, Eastern, and Western
higher investments. regions.
o Aims to expand production, hire staff, and Local Boards
• Constituted for Western Area, Eastern Area,
modernize operations.
Northern Area and Southern Area.
• Consist of five members each.
82. (c) When the Reserve Bank of India (RBI) was
• Members appointed by the Central Government.
established in 1935 under the Reserve Bank of India
Act, 1934, it was privately owned. • Member shall hold office for a term of four years.
• It was only after nationalization in 1949 that the
RBI became fully owned by the Government of Functions: General superintendence and
India. Other options like public or joint ownership direction of the Bank's affairs
are plausible but incorrect as they do not reflect the Central Board of Director appointed/nominated
RBI’s original ownership structure. under RBI Act, 1934
• The Bank was constituted to
* Regulate the issue of banknotes Section of Sr.
* Maintain reserves with a view to securing Name
RBI Act No.
monetary stability and
1. Shri Sanjay Malhotra
* To operate the credit and currency system of the
Governor
country to its advantage.
• The Bank began its operations by taking over from 2. Dr. M.D. Patra
the Government the functions so far being Deputy Governor
performed by the Controller of Currency and from 3. Shri M. Rajeshwar Rao
8 (1) (a)
the Imperial Bank of India, the management of Deputy Governor
Government accounts and public debt. 4. Shri T. Rabi Sankar
Deputy Governor
83. (c) The Central Office of the Reserve Bank was 5. Shri Swaminathan J
initially established in Kolkata but was permanently Deputy Governor
moved to Mumbai in 1937.

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6. Ms. Revathy Iyer a) Explanation of inflation dynamics in the last six

8 (1) (b) months and the near term inflation outlook;
7. Prof. Sachin Chaturvedi b) Projections of inflation and growth and the
8. Shri Satish Kashinath Marathe balance of risks;
9. Shri Swaminathan c) An assessment of the state of the economy,
Gurumurthy covering the real economy, financial markets and
stability, fiscal situation, and the external sector,
10. Shri Anand Gopal Mahindra
8 (1) (c) which may entail a bearing on monetary policy
11. Shri Venu Srinivasan decisions;
12. d) An updated review of the operating procedure of
Shri Pankaj Ramanbhai Patel
monetary policy; and
13. Dr Ravindra H. Dholakia e) An assessment of projection performance.
14. Shri Ajay Seth
8 (1) (d) 89. (b) The Board for Financial Supervision
15. Shri Nagaraju Maddirala (BFS) was established in 1994 to provide focused
supervision over the financial system. It oversees
86. (b) Members of the RBI’s Local Boards are commercial banks, financial institutions, and non-
appointed by the Central Government for a term of banking financial companies (NBFCs). Other bodies,
four years. The Local Boards represent territorial such as the Central Board, have broader
and economic interests and advise the Central governance responsibilities.
Board on regional matters. Other durations, such as • For dedicated and integrated supervision over all
two or six years, are distractors and do not reflect credit institutions, i.e., banks, development financial
the RBI’s policies. institutions and non-banking financial companies,
the Board for Financial Supervision (BFS) was set
87. Bharatiya Reserve Bank Note Mudran up in November 1994 under the aegis of the
Private Limited (BRBNMPL) is a wholly-owned Reserve Bank of India.
subsidiary of the RBI tasked with printing currency • For focussed attention in the area of supervision
notes in India. over non-banking finance companies, Department
• It operates two currency printing presses located of Supervision was further bifurcated in August
in Mysore (Karnataka) and Salboni (West Bengal). 1997 into Department of Banking Supervision (DBS)
• Other subsidiaries, like ReBIT and IFTAS, handle and Department of Non-Banking Supervision
IT and technology-related tasks, while DICGC (DNBS).
oversees deposit insurance. • These Departments now look after supervision
• Bharatiya Reserve Bank Note over commercial banks & development financial
Mudran (BRBNM) is a specialised institutions and non-banking financial companies,
division of Reserve Bank of India which is under respectively. Both these departments now function
the ownership of Ministry of Finance of under the direction of the Board for Financial
the Government of India. Supervision (BFS).
• It produces Indian bank notes. It was established
in 1995 to address the demand of bank notes. 90. (b) The RBI manages four training
• It operates in Indian and global markets, catering establishments: RBI Academy, College of
to security document needs of Central banks and Agricultural Banking, Reserve Bank of India Staff
monetary authorities of the world by designing, College, and College of Supervisors. While there are
printing and supplying banknotes. additional training institutes funded by the RBI,
they are not directly managed by the central bank,
88. (c) The RBI’s monetary policy aims to maintain making this option the most accurate.
price stability while supporting economic • Four, namely, RBI Academy, College of
growth. Agricultural Banking, Reserve Bank of India Staff
• This involves controlling inflation and ensuring College and College of Supervisors are part of the
sufficient liquidity in the market to promote Reserve Bank.
economic activity. • Other autonomous, such as, Institute for
• Fiscal stability and trade facilitation, though Development and Research in Banking Technology
important, are not directly linked to monetary (IDRBT)
policy.
• Once in every six months, the Reserve Bank 91. (a) RBIH is the RBI’s fully-owned
publishes the Monetary Policy Report containing the subsidiary dedicated to fostering innovation in
following elements: the financial sector.

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• While other subsidiaries like BRBNMPL and DICGC they will have to
focus on printing currency and deposit insurance settle for an
respectively, RBIH’s primary role is to promote interest rate that
technology-driven solutions for banking and finance. is 1% lower than
• The Reserve Bank Innovation Hub is a wholly- the base rate as
owned subsidiary of the Reserve Bank of India (RBI) a penalty.
set up to promote and facilitate an environment
that accelerates innovation across the financial 94. (a) NRE accounts are rupee-denominated
sector. accounts meant for parking income earned abroad.
While deposits are converted into INR, both
92. (c) Current accounts are designed for traders, principal and interest are transferable and tax-free
business owners, and entrepreneurs who require in India. This differentiates it from NRO accounts,
frequent transactions. They allow an unlimited which are used for managing Indian income and are
number of daily transactions and overdraft facilities taxed.
but do not offer interest on the deposits. Savings NRE accounts- Non-Resident External (NRE)
accounts and other options cater to individuals with accounts are used to deposit foreign earnings in
different needs and transaction frequencies. Indian rupees. The funds in an NRE account are tax-
free in India, and the principal and interest can be
93. (a) Fixed deposit accounts require a one-time freely repatriated to the NRI's country of residence.
lump sum deposit, while recurring deposit NRO accounts- Non-Resident Ordinary (NRO)
accounts require smaller, regular investments over accounts are used to manage income earned within
time. Both accounts offer fixed interest rates and India, such as rent, dividends, or pensions. The
have penalties for premature withdrawal, but the interest earned in an NRO account is subject to
investment method differentiates them. Indian taxes, and repatriation is limited to $1
Fixed Deposits Recurring million per financial year after taxes are paid.
Deposits
Purpose of Fixed deposits RDs, on the other 95. (b) Foreign Currency Non-Resident (FCNR)
Deposit are an hand, are a accounts allow NRIs to maintain their deposits in
investment financial foreign currency, avoiding conversion to INR. Both
scheme that instrument that the principal and interest are transferable and not
one can use to teaches one to taxed in India. NRO and NRE accounts, in contrast,
invest their inculcate a habit are INR-based.
surplus money of saving up a Foreign Currency Non-Resident (FCNR) accounts are
and earn fixed amount of a good option for Non-Resident Indians (NRIs) to
interest at a money each maintain their deposits in foreign currency, avoiding
usually higher month. conversion to INR:
rate than a • Tax-free interest: Interest earned on FCNR
savings bank accounts is not taxable in India.
account. • Full repatriability: The principal and interest
Duration of The minimum The minimum earned on FCNR accounts can be fully transferred
Deposit and maximum and maximum back to the account holder's country of residence.
durations of the duration of RDs • No exchange risk: Since the money is held in
FD are 7 days are 6 months and foreign currency, there is no risk of exchange rate
and 10 years, 10 years, fluctuations.
respectively. respectively. • Term deposits: FCNR accounts are term deposit
Renewals FDs can be auto RDs do not have accounts with a fixed tenure ranging from one to
renewed. the option of five years.
auto-renewal. • Multiple currencies: FCNR accounts can be
Premature In the case of In the case of opened in various currencies, such as US Dollars,
Withdrawals FDs, premature RDs, premature Pounds Sterling, Euro, Japanese Yen, Australian
withdrawal is withdrawals are Dollars, and Canadian Dollars.
subject to possible. • Overdraft facility: An overdraft facility can be
penalties. However, if one availed over an FCNR Term Deposit Account.
chooses to invest • Premature withdrawal: Premature withdrawal is
the prematurely allowed, but interest is paid only after the account
withdrawn has completed one year.
amount, then

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96. (b) NRO accounts allow NRIs to deposit income 99. (b) RuPay is an indigenously developed
earned in India, which is subject to Indian taxation. payment system that supports debit, credit, and
In contrast, NRE accounts, used for earnings prepaid cards. It facilitates low-value offline and
sourced from abroad, are exempt from Indian taxes online payments, including contactless transactions.
on both principal and interest. Both accounts allow • RuPay is an Indigenously developed Payment
repatriation of funds, but taxation differs System – designed to meet the expectation and
significantly. needs of the Indian consumer, banks and merchant
• The NRE account is an Indian rupee-denominated eco-system.
account, offering complete security. These accounts • RuPay supports the issuance of debit, credit and
can be in the form of savings, current, recurring, or prepaid cards by banks in India and thereby
fixed deposits. The foreign currency you deposit into supporting the growth of retail electronic payments
the account is converted to INR. You can also in India.
transfer your funds (Principal & Interest amount) to • RuPay is well poised to explore innovative
a foreign account from an NRE account without any payment opportunities such as Contactless – offline
complications and restrictions. and online to drive the adoption of low-value
• An NRO account is a savings or current account payments. All RuPay Cards will now have the
held by NRIs in India to manage their income functionality of NCMC which can enable low-value
earned in India. Account-holders can deposit and contactless payments (like transit, toll, parking, and
manage their accumulated rupee funds without any retail) using Offline technology.
hassle. The account allows you to receive funds in • The alliances with international network partners
Indian or Foreign currency. You can apply for an (Discover Financial Services, Japan Credit Bureau
NRO account jointly with a resident Indian or even and China Union Pay) provide valuable access to a
an NRI. It is even feasible to transfer money from global acceptance footprint and offer world-class
your current NRE account. payment solutions to RuPay cardholders.

97. (c) Premature withdrawal of funds from an FD 100. (a) The Aadhaar Payment Bridge System
or RD results in a penalty where the interest rate (APBS) is designed for direct benefit transfers
applied is lower than the originally agreed rate. (DBT) under various government schemes. It links
This encourages depositors to keep their funds Aadhaar numbers to bank accounts, enabling
locked in until maturity. Other options, such as seamless fund transfers.
forfeiture or principal loss, are not typical • Other products, like UPI or NETC, cater to different
consequences. payment needs, making them incorrect answers.
• Premature withdrawal of Fixed Deposit (FD) means • APBS uses Aadhaar numbers as a central key to
you partially or completely withdraw your deposit electronically transfer government subsidies and
amount before the maturity period. Banks offer benefits to Aadhaar Enabled Bank Accounts (AEBA).
such facilities for callable FDs, where you can • Benefits- To receive benefits, you must enroll in
withdraw funds before the deposit tenure. However, the relevant schemes through the implementing
there are certain implications of premature FD authorities in your area and authenticate yourself
withdrawal. using Aadhaar.

98. (b) NPCI was established as a "Not for Profit" 101. (b) UPI is a revolutionary payment system
organization to provide robust infrastructure for enabling instant real-time transfers between bank
retail payments and settlements in India. accounts using mobile devices.
• Its aim is to innovate in payment systems through • Its ease of use, low cost, and versatility have
technology, enhancing efficiency and accessibility. made it one of the most popular payment systems
Other options, such as regulating banking licenses, in India.
are unrelated to NPCI's primary purpose. • Other options like IMPS are significant but do not
• National Payments Corporation of India (NPCI), an match UPI’s scale and impact.
umbrella organisation for operating retail payments • Unified Payments Interface (UPI) is a system that
and settlement systems in India, is an initiative of powers multiple bank accounts into a single mobile
the Reserve Bank of India (RBI) and the Indian application (of any participating bank), merging
Banks' Association (IBA) under the provisions of the several banking features, seamless fund routing &
Payment and Settlement Systems Act, 2007, for merchant payments into one hood. It also caters to
creating a robust Payment & Settlement the “Peer to Peer” collect request which can be
Infrastructure in India. scheduled and paid as per requirement and
convenience.

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102. (c) NETC uses RFID technology through well-established switch networks. The operational
FASTags affixed on vehicles to enable automatic toll functions and services are at par with most of the
payments. This system eliminates the need to stop global ATM networks.
at toll booths, saving time and fuel.
Other technologies, such as QR codes or biometrics, 105. (c) Under the Scheme, the Banking
are not used in this system. Ombudsman can award compensation for actual
• FASTag is a RFID passive tag used for making toll losses caused by a bank’s actions or omissions, up
payments directly from the customers linked to Rs. 2 million.
prepaid or savings/current account. • This amount is exclusive of the dispute value and
• It is affixed on the windscreen of the vehicle and is intended to cover financial harm directly linked to
enables the customer to drive through toll plazas, the bank's deficiencies.
without stopping for any toll payments. • The Rs. 2 million limit ensures a balance between
• The toll fare is directly deducted from the linked providing relief to customers and maintaining
account of the customer. FASTag is also vehicle practical limits for banks.
specific and once it is affixed to a vehicle, it cannot The maximum compensation a Banking
be transferred to another vehicle. FASTag can be Ombudsman can award for financial losses under
purchased from any of the NETC Member Banks. the Reserve Bank of India's (RBI) Integrated
Ombudsman Scheme, 2021 is Rs. 20 lakh:
103. (b) The Bharat Bill Payment System • Compensation
(BBPS) is a one-stop platform for recurring • The Ombudsman can award compensation of up to
payments across multiple categories, including Rs. 20 lakh for any consequential loss suffered by
electricity, telecom, gas, and insurance. the complainant.
• Unlike UPI and IMPS, which are real-time payment • Additional compensation
systems, BBPS focuses on consolidating bill The Ombudsman can also award up to Rs. 1 lakh
payments under one roof. for the complainant's loss of time, expenses, and
• The Bharat Bill payment system is a Reserve Bank harassment or mental anguish.
of India (RBI) conceptualised system driven by the
National Payments Corporation of India (NPCI). 106. (b) An appeal against a Banking Ombudsman’s
• It is a one-stop ecosystem for payment of all bills award must be filed within 30 days from the date
providing an interoperable and accessible “Anytime of communication. If the appellant has valid reasons
Anywhere” Bill payment service to all customers for delay, an additional 30 days may be granted at
across India with certainty, reliability and safety of the discretion of the Appellate Authority.
transactions. Approaching the RBI Ombudsman without first
lodging a complaint with the RE or doing so before
104. (b) NPCI took over the operations of the 30 days after lodging the complaint, if there is no
National Financial Switch on December 14, 2009, response from the RE, would make the complaint
making it the largest shared ATM network in India. non-maintainable under RB-IOS, 2021.
The in-principle approval was granted in September It may be noted that the complaint should be made
2009, paving the way for this significant milestone. to the RBI Ombudsman not later than one year
• Other years mentioned in the options are after receiving the reply of the RE or, in cases where
unrelated to this event. no reply is received, not later than one year and 30
• National Financial Switch (NFS) ATM network days after the date of the representation to the RE.
having 37 members and connecting about 50,000
ATMs was taken over by NPCI from Institute for 107. (a) The Reserve Bank of India appoints
Development and Research in Banking Technology Banking Ombudsmen, who are typically officers at
(IDRBT) on December 14, 2009. the level of Chief General Manager or General
• Over the span of few years, NFS ATM network has Manager.
grown many folds and is now the leading • They are tasked with handling complaints and
multilateral ATM network in the country. ensuring fair resolutions. Neither the Ministry of
• As on 30th Nov 24, there were 1,336 members Finance nor State Governments play a role in these
that includes 116 Direct, 1,175 Sub members, 41 appointments, and organizations like the Indian
RRBs and 4 WLAOs using NFS network connected to Banks' Association or High Courts are unrelated to
2.63 Lac ATM (including cash deposit the Ombudsman appointment process.
machines/recyclers). • Reserve Bank of India (RBI) integrated its three
• NFS has established a strong and sustainable erstwhile Ombudsman Schemes viz. (i) the Banking
operational model with in-house capabilities and Ombudsman Scheme, 2006, (ii) the Ombudsman
today can be compared at par with other major and Scheme for Non-Banking Financial Companies,

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2018, and (iii) the Ombudsman Scheme for Digital • gift cards, prepaid cards, mobile wallets, smart
Transactions, 2019, into one Scheme - ‘The Reserve cards, magnetic strip cards, and paper vouchers.
Bank - Integrated Ombudsman Scheme, 2021 (the • PPIs can be used for a variety of purposes, such
Scheme / RB-IOS, 2021)’ with effect from as: Online shopping, Bill payments, Money
November 12, 2021. transfers, Travel expenses, and Gifting.
• The Scheme simplifies the grievance redress
process at RBI by enabling the customers of 111. © NBFC stands for Non-Banking Financial
Regulated Entities (REs) like banks, Non-Banking Company, which provides financial services like
Financial Companies (NBFCs), Payment System loans and investments but does not hold a banking
Participants (PSPs) and Credit Information license. Unlike banks, NBFCs cannot accept demand
Companies to register their complaints at one deposits.
centralised reference point. • A Non-Banking Financial Company (NBFC) is a
• The objective of the Scheme is to resolve the company registered under the Companies Act, 1956
customer grievances involving ‘deficiency in service’ engaged in the business of loans and advances,
on part of REs in a speedy, cost-effective and acquisition of
satisfactory manner. shares/stocks/bonds/debentures/securities issued
by Government or local authority or other
108. (e) Banks are mandated to display the details marketable securities of a like nature, leasing, hire-
of the Banking Ombudsman Scheme, contact purchase, insurance business, chit business but
information, complaint filing procedures, and the does not include any institution whose principal
availability of grievance forms at their branches. business is that of agriculture activity, industrial
These measures ensure that customers can easily activity, purchase or sale of any goods (other than
access information and know how to seek redressal. securities) or providing any services and
This comprehensive approach highlights the sale/purchase/construction of immovable property.
Scheme’s customer-centric focus and ensures • A non-banking institution which is a company and
transparency. has principal business of receiving deposits under
any scheme or arrangement in one lump sum or in
109. (b) AEPS stands for Aadhar Enabled installments by way of contributions or in any other
Payment System, which allows bank transactions manner, is also a non-banking financial company
using an individual’s Aadhar number and biometric (Residuary non-banking company).
authentication. This system promotes financial
inclusion, especially in rural areas. 112. (c) Tier I capital is the core capital of a
• The other options, though plausible, are incorrect bank, consisting of share capital and disclosed
as they deviate from the exact meaning and reserves, providing the highest quality support for
purpose of AEPS. absorbing losses.
• AePS is a bank led model which allows online Subordinated debt and revaluation reserves are part
interoperable financial inclusion transaction at PoS of Tier II capital, and hybrid instruments are not
(MicroATM) through the Business correspondent of included in Tier I capital.
any bank using the Aadhaar authentication.AePS Capital funds: The capital funds would include the
allows you to do six types of transactions. components Tier I capital and Tier II capital.
• The only inputs required for a customer to do a 1 Elements of Tier I Capital: The elements of Tier
transaction under this scenario are:- I capital include:
a. Bank Name i. Paid-up capital (ordinary shares), statutory
b. Aadhaar Number reserves, and other disclosed free reserves, if any;
ii. Perpetual Non-cumulative Preference Shares
110. (b) PPI refers to Prepaid Payment (PNCPS) eligible for inclusion as Tier I capital -
Instruments, which are payment tools that subject to laws in force from time to time;
facilitate transactions using funds preloaded by the iii. Innovative Perpetual Debt Instruments (IPDI)
user. Examples include gift cards, wallets, and eligible for inclusion as Tier I capital; and
preloaded cards. iv. Capital reserves representing surplus arising out
• PPI stands for Prepaid Payment Instrument, which of sale proceeds of assets.
is a financial tool that allows users to load funds in 2 Elements of Tier II Capital: The elements of
advance for transactions. PPIs are a convenient and Tier II capital include undisclosed reserves,
secure way to make digital payments without the revaluation reserves, general provisions and loss
need for a bank account. reserves, hybrid capital instruments, subordinated
• Some examples of PPIs include: debt and investment reserve account.
(a) Undisclosed Reserves

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They can be included in capital, if they represent • The Basel Accords are a series of three
accumulations of post-tax profits and are not agreements: Basel I, Basel II, and Basel III. The
encumbered by any known liability and should not first accord, Basel I, was issued in 1988. Basel II
be routinely used for absorbing normal loss or was created in response to the banking crisis of the
operating losses. 1990s. Basel III was agreed upon in November
(b) Revaluation Reserves 2010.
It would be prudent to consider revaluation reserves
at a discount of 55 per cent while determining their 114. (c) Operating profit before provisions is
value for inclusion in Tier II capital. Such reserves calculated as the net of total income and total
will have to be reflected on the face of the Balance operating expenses. It represents the earnings from
Sheet as revaluation reserves. the bank's core business activities before
(c) General Provisions and Loss Reserves accounting for provisions like loan losses,
Such reserves can be included in Tier II capital if depreciation, or write-offs.
they are not attributable to the actual diminution in Total income
value or identifiable potential loss in any specific Sum of interest/discount earned, commission,
asset and are available to meet unexpected losses. exchange, brokerage and other operating
Adequate care must be taken to see that sufficient income.
provisions have been made to meet all known Total operating expenses
losses and foreseeable potential losses before Sum of interest expended, staff expenses and
considering general provisions and loss reserves to other overheads.
be part of Tier II capital. General provisions/loss Operating profit before provisions
reserves will be admitted up to a maximum of 1.25 Net of total income and total operating
percent of total risk weighted assets. expenses.
'Floating Provisions' held by the banks, which is Net operating profit
general in nature and not made against any Operating profit before provision minus
identified assets, may be treated as a part of Tier II provision for loan losses, depreciation in
capital within the overall ceiling of 1.25 percent of investments, write off and other provisions.
total risk weighted assets. Profit before tax (PBT)
Excess provisions which arise on sale of NPAs would
(Net operating profit +/- realized gains/losses
be eligible Tier II capital subject to the overall
on sale of assets)
ceiling of 1.25% of total Risk Weighted Assets.
Profit after tax (PAT)
(d) Hybrid Debt Capital Instruments
Profit before tax - provision for tax.
Those instruments which have close similarities to
Retained earnings
equity, in particular when they are able to support
Profit after tax - dividend paid/proposed.
losses on an ongoing basis without triggering
liquidation, may be included in Tier II capital. At Average Yield
present the following instruments have been (Interest and discount earned/average interest-
recognized and placed under this category: earning assets)*100
i. Debt capital instruments eligible for inclusion as Average cost
Upper Tier II capital ; and (Interest expended on deposits and
ii. Perpetual Cumulative Preference Shares (PCPS) / borrowings/Average interest bearing
Redeemable Non-Cumulative Preference Shares liabilities)*100
(RNCPS) / Redeemable Cumulative Preference
Shares (RCPS) as part of Upper Tier II Capital. 115. (c) Net interest margin is a key indicator of a
bank's profitability. It is calculated as the net
113. (c) The Basel Capital Accord focuses on interest income divided by the average interest-
establishing standardized capital adequacy earning assets. This ratio reflects how well the bank
frameworks for banks to manage credit, market, utilizes its assets to generate income.
and operational risks. It does not involve taxation, • Return on Asset (ROA)- After Tax Return on
inflation control, or exchange rate monitoring. Assets (ROA) is a profitability ratio which indicates
• The Basel Capital Accord is a series of agreements the net profit (net income) generated on total
that establish standardized capital requirements and assets. It is computed by dividing net income by
risk measurements for banks to manage credit, average total assets. Formula- (Profit after tax/Av.
market, and operational risks. Total assets)*100
• The Basel Accords are designed to ensure that • Return on equity (ROE)- After Tax Return on
banks have enough capital to meet their obligations Equity (ROE) is a ratio relating net profit (net
and absorb unexpected losses. income) to shareholders' equity. Here the equity

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refers to share capital reserves and surplus of the • Options 2 and 3 relate to profitability, while
bank. Formula- Profit after tax/(Total equity + Total options 4 and 5 measure funding and non-interest
equity at the end of previous year)/2}*100 components, respectively.
• Accretion to equity (Retained earnings/Total • The cost income ratio reflects the extent to
equity at the end of previous year)*100 which non-interest expenses of a bank make a
• Net Non-Interest Income The differential charge on the net total income.
(surplus or deficit) between non-interest income • (total income - interest expense). The lower the
and non-interest expenses as a percentage to ratio, the more efficient is the bank.
average total assets. • Formula: Non interest expenditure / Net Total
• Net Interest Income ( NII) The NII is the Income * 100.
difference between the interest income and the
interest expenses. 117. (e) The Basel Accords are a series of three
• Net Interest Margin Net interest margin is the agreements: Basel I, Basel II, and Basel III. The
net interest income divided by average interest first accord, Basel I, was issued in 1988. Basel
earning assets. II was created in response to the banking crisis of
• Cost income ratio (Efficiency ratio) The cost the 1990s. Basel III was agreed upon in November
income ratio reflects the extent to which non- 2010.
interest expenses of a bank make a charge on the The Basel Accords include:
net total income (total income - interest expense). • Minimum capital requirements: Banks must
The lower the ratio, the more efficient is the bank. meet a minimum ratio of capital to risk-weighted
Formula: Non interest expenditure / Net Total assets.
Income * 100. • Risk measurements: The Basel Accords
establish risk measurements for banks.
• 116. (a) The cost-income ratio measures how • Supervisory review: Banks must undergo a
much non-interest expense a bank incurs to supervisory review of their capital adequacy and
generate net income. A lower ratio indicates better internal assessment process.
efficiency. • Market discipline: Banks must disclose
information to encourage safe and sound banking
practices.

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