Search Previous Year Questions

The correct answer is NIVARAN.

In News

• Ministry of Petroleum & Natural Gas launched the NIVARAN portal in January 2025 as a dedicated grievance redressal platform for PM JI-VAN Yojana stakeholders.

Key Points

• NIVARAN provides a centralised online mechanism for registering, tracking, and resolving complaints related to JI-VAN scheme projects.
• Centre for High Technology (CHT) manages the portal as a nodal agency under the Ministry of Petroleum & Natural Gas for biofuel initiatives.
• The platform addresses grievances concerning second-generation ethanol production from lignocellulosic biomass and agricultural residues.
• PM JI-VAN scheme supports 12 commercial and 10 demonstration projects across two phases from 2018-2024 with financial assistance.
• Scientific Advisory Committee (SAC) appraises projects while NIVARAN ensures timely stakeholder issue resolution during implementation.
• Portal facilitates 24x7 access promoting transparency, accountability, and efficient project execution in biofuel sector.
• Initiative reduces stubble burning pollution while enhancing energy security through domestic biofuel production capacity.

Additional Information

• PM JI-VAN full form: Pradhan Mantri Jaiv Indhan-Vatavaran Anukool fasal awashesh Nivaran Yojana focusing on crop residue management.
• CHT provides secretarial support to SAC for project evaluation and financial grant recommendations under the scheme.
• Second-generation ethanol produced from non-food biomass reduces fossil fuel import dependence and greenhouse emissions.
• Agricultural residues include rice straw, wheat stubble, sugarcane bagasse, and cotton stalks suitable for biofuel conversion.

The correct answer is New Development Bank (NDB).

In News

• New Development Bank (NDB) appointed RBI's Rajiv Ranjan as Vice President and Chief Risk Officer for five years.

Key Points

• Rajiv Ranjan joined RBI in 1989 and has served as Executive Director and Monetary Policy Committee member since 2022.
• His expertise covers monetary policy, fiscal policy, the external sector, and international relations at the RBI.
• NDB was established in 2015 by the BRICS countries (Brazil, Russia, India, China, South Africa) for infrastructure financing.
• Ranjan represents the India constituency at NDB, focusing on sustainable development projects in emerging markets.
• Prior experience includes deputation to the Central Bank of Oman and various RBI departments.
• The appointment strengthens India's leadership role in multilateral development financing institutions.
• NDB mobilizes resources for infrastructure and sustainable development, avoiding the traditional donor-recipient model.

Additional Information

• New Development Bank is headquartered in Shanghai, China, with equal shareholding among founding members.
• Chief Risk Officer oversees NDB's risk management framework for project financing.
• BRICS institutions complement traditional multilateral banks like the World Bank and ADB.
• Ranjan holds a PhD in Economics from Mumbai University and Master's from the Delhi School of Economics.

The correct answer is Ramesh Budihal.

In News

• Ramesh Budihal won bronze medal in Open Men's category at Asian Surfing Championships 2025 held in India.

Key Points

• Ramesh Budihal from Kerala secured India's first individual medal at Asian Surfing Championships with 12.60 points.
• The event served as final qualifiers for 2026 Asian Games surfing competition in Japan.
• Budihal advanced to medal round after finishing second in the semi-final heat with 11.43 points.
• India hosted the championships for first time at Mahabalipuram beaches, Tamil Nadu.
• Gold medal won by South Korea's Kanoa Heejae (15.17 points) and silver by Indonesia's Pajar Ariyana (14.57 points).
• Budihal started surfing at age five in Kovalam, Kerala, marking his breakthrough performance.
• The medal boosted India's surfing profile ahead of international competitions.

Additional Information

• Surfing scores are based on wave riding performance, judged on difficulty, variety, and execution.
• Asian Surfing Championships are organised by the Asian Surfing Championships board annually.
• Mahabalipuram is known for suitable surfing conditions and a historic beach location.
• India's surfing growth is supported by the Surfing Federation of India established in 2015.

The correct answer is Bibi Fatima.

In News

• Bibi Fatima Women's Self-Help Group from Teertha village, Karnataka, won the UNDP Equator Prize 2025 as the sole Indian recipient.

Key Points

• The group led by Bibi Fatima conserved indigenous seeds and promoted climate-resilient farming in Karnataka's drylands.
• Bibi Fatima Swa Sahaya Sangha demonstrated community-led solutions transforming agriculture amid climate challenges.
• The Equator Prize recognizes grassroots efforts integrating biodiversity conservation with sustainable livelihoods.
• The Karnataka collective was one of ten global winners from nine countries selected for transformative environmental impact.
• Their work focused on reviving traditional seeds suited to local conditions, reducing dependency on chemical inputs.
• The initiative empowered women farmers through collective action and knowledge sharing on sustainable practices.
• The award highlights India's community-driven approaches to climate adaptation and food security.

Additional Information

• Equator Prize is awarded biannually by UNDP's Equator Initiative to honour local solutions for sustainable development.
• Indigenous seeds are drought-resistant varieties adapted to local agro-climatic conditions over generations.
• Self-Help Groups (SHGs) are women-led community organizations promoting economic empowerment in rural India.
• The prize recognizes efforts aligning with UN Sustainable Development Goals, particularly SDG 13 on climate action.

The correct answer is Validation.

In News

• RBI launched the PRAVAAH portal as Platform for Regulatory Application, VAlidation and AutHorisation to simplify application processes for regulated entities.

Key Points

• PRAVAAH provides a single-window digital interface for submitting applications for licenses, approvals, and authorisations to the RBI.
• The portal enables real-time tracking of application status, progress updates, and communication with RBI officials.
• From May 1, 2025, all regulated entities including banks and NBFCs must use PRAVAAH for regulatory submissions.
• It includes pre-loaded application forms, user manuals, FAQs, and video tutorials to assist applicants.
• The platform has processed nearly 4,000 requests since launch, enhancing transparency and reducing processing delays.
• PRAVAAH eliminates manual submissions and multiple channels, creating a centralised secure system for regulatory compliance.
• RBI mandated its use to improve efficiency in the regulatory approval ecosystem for financial institutions.

Additional Information

• Regulated Entities (REs) include commercial banks, payment banks, small finance banks, and non-banking financial companies.
• The portal supports general-purpose forms for applications without specific pre-loaded formats.
• PRAVAAH aligns with RBI's digital transformation initiatives for regulatory processes.
• It promotes paperless operations and faster turnaround times for regulatory clearances.
• RBI
• Established in - 1935
• HQ - Mumbai
• Governor  - Sanjay Malhotra

The correct answer is Retail Direct Gilt  Account.

In News

• Under the RBI Retail Direct Scheme, individual investors invest in government securities through a free-of-cost Retail Direct Gilt (RDG) Account maintained with the RBI.

Key Points

• The scheme enables resident individuals to open an online RDG Account directly with the RBI via the dedicated Retail Direct portal.
• Through the RDG Account, investors can participate in primary issuances of G-Secs, T-Bills, SDLs, and Sovereign Gold Bonds.
• Retail investors can also trade eligible government securities in the secondary market using the same account.
• No account opening or maintenance charges are levied by RBI for RDG Accounts.
• The scheme eliminates the need for intermediaries like brokers or DP for basic G-Sec investments.
• It broadens the investor base for government borrowing and encourages small savers to access risk-free instruments.
• Transactions and holdings are reflected online, with email/SMS alerts for transparency and convenience.

Additional Information

• Government securities (G-Secs) are debt instruments issued by the Central or State governments.
• They are considered risk-free in terms of default and are used by conservative investors.
• RBI acts as banker and debt manager to the government, handling G-Sec auctions.
• Retail inclusion in G-Sec markets supports financial market deepening and savings mobilisation.
• RBI
• Established in - 1935
• HQ - Mumbai
• Governor - Sanjay Malhotra

The correct answer is 100 grams.

In News

• RBI’s June 2025 draft circular on gold and silver loans proposed that banks accept standard gold and silver coins as security only up to a combined weight of 100 grams per borrower.

Key Points

• The draft guidelines cap the aggregate weight of standard gold and silver coins together at 100 grams per borrower for loan purposes.
• Coins must be issued by banks, MMTC or other RBI/SEBI–regulated entities, and must carry proper fineness and hallmarks.
• The proposal requires banks to record details like weight, purity, number of coins and value at the time of pledge.
• RBI’s move seeks to prevent misuse of high-value coins and ensure alignment with prudential lending norms on precious metals.
• These guidelines complement existing LTV norms and KYC requirements for gold loans.
• Draft instructions were placed in the public domain for stakeholder comments before finalisation.
• The framework aims to improve transparency in valuation and custody of coin-based collateral.

Additional Information

• Gold loans are typically sanctioned against jewellery or coins with a regulatory cap on LTV ratios.
• Standardised coins have uniform purity and weight, making valuation more objective.
• Draft regulatory proposals help RBI gauge industry feedback before issuing final directions.
• Prudential norms on precious metal loans aim to mitigate price volatility and concentration risk.
• RBI
• Established in - 1935
• HQ - Mumbai
• Governor - Sanjay Malhotra

The correct answer is Fixed Income Money Market and Derivatives Association of India (FIMMDA).

In News

• RBI recognised Fixed Income Money Market and Derivatives Association of India (FIMMDA) as a Self-Regulatory Organisation (SRO) in August 2025.

Key Points

• Fixed Income Money Market and Derivatives Association of India (FIMMDA) is a market association representing participants in fixed income, money market, and derivatives segments.
• SRO status enables FIMMDA to develop industry best practices, compliance frameworks, and dispute resolution mechanisms.
• Recognition aims to improve market conduct, transparency, and investor protection in bond and derivatives markets.
• SROs complement the regulator’s supervisory functions by self-regulation within the industry.
• FIMMDA has collaborated with RBI, SEBI, and exchanges for product development and market growth.
• Status helps in building investor confidence and a robust market infrastructure.

Additional Information

• FIMMDA was incorporated in 1999 as an industry body for fixed-income markets.
• SRO framework is part of financial sector reforms encouraging co-regulation.
• Market participants include banks, mutual funds, insurance companies, and brokers.

The correct answer is United Arab Emirates (UAE).

In News

• India and the UAE reaffirmed their commitment to strengthening bilateral defence cooperation during the 13^th JDCC meeting held in New Delhi in 2025.

Key Points

• The meeting was co-chaired by India’s Defence Secretary Rajesh Kumar Singh and the UAE’s Under Secretary of Defense Lt Gen Ibrahim Nasser Alawi.
• Partnership includes enhanced military training, maritime security cooperation including SAR and anti-piracy.
• India-UAE cooperation advances joint defence manufacturing and technology development.
• MoU signed between the Indian Coast Guard and the UAE National Guard for maritime security coordination.
• Collaboration focused on Indian Ocean Region real-time information sharing and pollution response.

Additional Information

• United Arab Emirates is a key strategic partner for India in the Middle East region.
• JDCC is a bilateral forum to review and strengthen defence cooperation.
• Maritime cooperation plays a critical role in ensuring security in the Indian Ocean.

The correct answer is Rs. 10 lakh.

In News

• NPCI has set the upper limit for a single transaction under the NACH mandate for recurring payments at Rs. 10 lakh.

Key Points

• The NPCI has set the maximum limit of ₹10 lakh for a single transaction under the NACH mandate for recurring payments.
• The NACH platform supports bulk and recurring transactions such as SIPs, utility bill payments and EMI deductions.
• The upper limit of Rs. 10 lakh protects users against unauthorized debits above the mandate amounts.
• Mandate registration includes enabling or restricting AFA (Additional Factor of Authentication) based on the amount.
• Physical NACH permits no limit on registration amount, but e-NACH sets limits to enhance payment security.

Additional Information

• NACH is a centralized electronic clearing service for interbank payments.
• ENACH is an electronic NACH using digital mandates via NPCI APIs.
• NACH grows in preference over cheques for recurring financial commitments.
• NPCI
• Established in - 2008
• HQ - Mumbai