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The correct answer is Both 1 and 2.

In News

• NPCI issued new UPI guidelines in May 2025 to enhance efficiency and reliability, effective from August 1, 2025.

Key Points

• Statement 1 - Correct: The revised guidelines mandated all UPI apps and payment service providers to strengthen real-time transaction monitoring and failure reporting systems, ensuring technical declines and reversals are tracked precisely to improve system reliability for customers and merchants.
• Statement 2 - Correct: UPI participants must adhere to stricter turnaround times for resolving failed/pending transactions including auto-reversal timelines, enabling faster refunds for customers facing technical failures or routing issues within the UPI ecosystem.
• Statement 3 - Incorrect: The circular did not allow unlimited transaction limits without monitoring; instead reinforced risk controls, banks' responsibility for failure analytics, and mandatory customer grievance redressal mechanisms across the ecosystem.
• The guidelines focus on reducing technical decline rates through enhanced monitoring of high-failure corridors and specific bank-app combinations requiring coordinated remediation efforts.
• NPCI provided transition period from May to August 1, 2025 for system upgrades, testing, and process alignment before mandatory compliance for all ecosystem participants.
• Emphasis on operational discipline through detailed transaction performance metrics reporting to identify and systematically resolve recurring technical issues.
• Customer-centric measures aim to build greater confidence in UPI for high-frequency small-value digital payments by minimizing fund blocking periods during failures.

Additional Information

• Technical Decline vs Business Decline: Technical declines result from system/connectivity issues (focus of guidelines); business declines occur due to insufficient balance or limits.
• Auto-Reversal Timeline: Automatic crediting of debited funds back when transactions fail post-debit; tightened timelines minimize customer fund blocking periods.
• UPI Ecosystem Participants: Includes issuer banks, acquirer banks, third-party app providers (TPAPs), payment service providers, and merchants all aligned with NPCI standards.
• NPCI
• Established - 2008
• HQ - Mumbai
• UPI Transaction Monitoring: Real-time analytics track success rates, failure patterns, and performance across 300+ banks and 50+ apps in India's payment ecosystem.

The correct answer is Engineering goods and services.

In News

• EEPC India continues to function as the premier organisation for promoting exports of Indian engineering goods and services worldwide.

Key Points

• The Engineering Export Promotion Council (EEPC) India was established in 1955 as a government-supported body to promote exports of engineering products and services.
• EEPC's primary mandate is the promotion of engineering goods and services, including machinery, capital goods, industrial equipment, auto components, and other engineering items.
• It acts as a bridge between Indian engineering exporters and global buyers, helping members access new markets through trade fairs, exhibitions, and buyer–seller meets such as the India Engineering Exhibition (INDEE).
• EEPC also conducts market research, provides policy inputs to the government, and assists exporters in understanding international standards and regulatory requirements.
• As of 2025, engineering goods constitute one of India's largest export baskets, with the US, EU, and ASEAN among key destinations; EEPC regularly reports trends and challenges in these markets.
• The council plays an important role in supporting MSME engineering exporters by facilitating access to schemes like Market Access Initiative (MAI) and Trade Infrastructure for Export Scheme (TIES).

Additional Information

• EEPC India functions under the Ministry of Commerce & Industry, Government of India, as a non-profit export promotion council.
• Engineering exports from India include sectors such as electrical machinery, transport equipment, castings, forgings, and industrial machinery.
• EEPC organises India pavilions at major global engineering events, helping Indian firms showcase products and build partnerships.
• Regular EEPC reports track movements in engineering exports, including impacts of global demand cycles, freight costs, and trade policies.

The correct answer is Milk pouring status, land holding, animal identification details, and productivity records.

In News

• The Unified Livestock Information (ULI) framework consolidates digital data such as milk pouring status, land holding, and animal productivity and health-related information for dairy farmers on a single platform.

Key Points

• ULI-type databases are built over systems like the Information Network for Animal Productivity & Health (INAPH), which capture detailed records on animal productivity and health at the field level.
• Key parameters include milk pouring status (quantity and frequency of milk supplied to cooperatives), enabling transparent payments and performance tracking for each farmer.
• Land holding details of dairy households are mapped to understand resource availability, fodder planning, and farm-scale characteristics.
• Each animal is tagged with a unique identification number, with records on breed, age, calving history, productivity, and health interventions (vaccination, treatment, AI, etc.).
• The system also records feed management, reproductive status, and lactation stages, enabling better advisory services and policy planning.
• ULI-style integration supports traceability of livestock products, helping access premium markets and improving price realisation for farmers.

Additional Information

• Automatic Milk Collection Units (AMCU/DPMCU) and Bulk Milk Coolers (BMCs) at village-level centres are integrated with such databases to capture milk quantity and quality in real time.
• Digital livestock databases help in designing insurance products, nutrition programmes, and breed improvement schemes scientifically.
• Traceability systems are increasingly required for export of dairy and meat products to high-value international markets.
• Unified databases also assist governments in monitoring disease outbreaks and planning vaccination and veterinary services effectively.

The correct answer is August 2024.

In News

• The National Bank for Securities Lending (NBSL) was launched in August 2024 as a specialised market institution to support India's securities lending and borrowing framework.

Key Points

• NBSL was conceptualised to centralise and standardise the securities lending and borrowing (SLB) process, improving transparency and efficiency in the Indian capital market.
• The launch in August 2024 aligned with SEBI's broader reforms to deepen market liquidity and support short-selling and hedging strategies in a regulated environment.
• NBSL acts as an institutional platform where lenders (such as mutual funds, insurance firms, and other large investors) can lend securities to borrowers like traders and market participants for a specified fee and tenure.
• The bank supports risk management by standardising contracts, collateral norms, and settlement procedures under SEBI and clearing corporation regulations.
• By professionalising securities lending, NBSL helps reduce settlement failures, enhances price discovery, and improves overall secondary market depth.
• NBSL coordinates closely with stock exchanges and clearing corporations to ensure seamless integration of lending and borrowing positions into the existing market infrastructure.

Additional Information

• Securities Lending and Borrowing (SLB) allows investors holding securities to lend them for a fee while retaining economic ownership, helping improve market liquidity.
• In India, SLB transactions are executed through recognised stock exchanges and are cleared and settled by approved clearing corporations.
• Typical participants in SLB include mutual funds, foreign portfolio investors (FPIs), proprietary traders, and retail investors acting through brokers.
• Globally, centralised securities lending structures aid in efficient price discovery, short-covering, and arbitrage opportunities in equity markets.
• SEBI
• Established in - 1992 (Act)
• HQ - Mumbai
• Chairman - Tuhin Kanta Pandey

The correct answer is All of the above.

In News

• RBI authorised State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, Punjab National Bank, and Union Bank of India for gold imports effective June 25, 2025.

Key Points

• The Reserve Bank of India (RBI) issued authorisation to six banks including SBI, HDFC Bank, Axis Bank, ICICI Bank, PNB, and Union Bank effective June 25, 2025.
• These Designated Authorised Banks facilitate gold/dore imports for refineries, exporters, and 100% export-oriented jewellery units under Free Sale norms.
• Authorisation aligns with India's gold import policy liberalisation to support refining capacity addition to 1,000 tonnes annually by 2025.
• Banks must ensure 100% export obligation for imported gold, reducing domestic supply pressures amid USD 12 billion annual import bill.
• This expands the list of authorised agencies beyond nominated agencies/MMTC to streamline trade finance for the gems and jewellery sector.
• India's gold demand projected at 800-900 tonnes in 2025, driven by festivals, weddings, and investment.

Additional Information

• Gold imports are regulated under Foreign Trade Policy 2023 with export obligations.
• Gems & Jewellery exports contribute 7% to India's total merchandise exports.
• RBI mandates Letters of Credit (LC) through authorised banks for transparency.
• Key refineries like MMTC-PAMP, India Gold Coin process imported dore bars.
• RBI
• Established in - 1935
• HQ - Mumbai

The correct answer is Five.

In News

• UN Nelson Rolihlahla Mandela Prize is awarded once every five years to two individuals for exceptional work in human rights, peace, and equality.

Key Points

• The UN Nelson Rolihlahla Mandela Prize, instituted via UNGA Resolution 67/295 in 2015, honours Nelson Mandela's legacy every five years.
• Awarded to two individuals biennially (once in five years), each receiving USD 125,000 for contributions to peace, reconciliation, and human rights.
• Recipients are selected by a nine-member High-Level Advisory Committee appointed by the UN Secretary-General based on global nominations.
• Past winners include Morissana Kouyaté (Guinea, 2019) for women's rights and Tawakkol Karman (Yemen, 2019) for democracy advocacy.
• The prize ceremony occurs during UNGA sessions in New York, amplifying global recognition for grassroots humanitarians.
• It promotes Mandela's values of racial equality, democracy, and social justice amid contemporary global challenges.

Additional Information

• Nelson Mandela served as South Africa's first post-apartheid President (1994-1999).
• UNGA awards several prizes, like the UNESCO Félix Houphouët-Boigny Peace Prize.
• Nominations open to UN Member States, UN entities, and accredited NGOs.
• Prize underscores SDGs, particularly Goal 16 (Peace, Justice, Strong Institutions).

The correct answer is 999.

In News

• Sovereign Gold Bonds (SGBs) are issued and redeemed based on the simple average closing price of 999 purity gold published by India Bullion and Jewellers Association Ltd (IBJA).

Key Points

• Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold of 999 purity, eliminating risks of physical gold storage.
• Each bond represents 1 gram of 999 purity gold, with redemption value calculated using average IBJA prices for the last 3 business days before maturity.
• Issued by RBI for an 8-year tenure with premature redemption after 5 years, offering 2.50% per annum interest paid semi-annually.
• As of 2025, multiple SGB series remain active, with recent Tranche like SGB 2024-25 Series IV mobilising over Rs 4,700 crore.
• Redemption ensures capital appreciation linked to the gold price plus interest, making SGBs tax-efficient with no capital gains tax on maturity held till term.
• Available in denominations of 1g, 2g, 4g, 5g up to 4 kg for individuals, subscribed through banks, post offices, and stock exchanges.

Additional Information

• 999 purity denotes 99.9% pure gold, standard for investment-grade bullion.
• SGBs reduce India's gold import bill currently at USD 10-12 billion annually.
• Eligible for KYC-compliant investors; nomination and trading on exchanges allowed after demat.
• Alternative to physical gold, ETFs, and gold mutual funds with a sovereign guarantee.
• RBI
• Established in - 1935
• HQ - Mumbai
• Governor - Sanjay Malhotra

The correct answer is Brownfield and Greenfield.

In News

• PM MITRA Park scheme allows both Brownfield (existing textile clusters) and Greenfield (new greenfield sites) projects for development as of 2025.

Key Points

• The PM Mega Integrated Textile Regions and Apparel (PM MITRA) Park scheme provides Rs 4,445 crore incentives for developing 7 PM MITRA Parks across states like Gujarat, Tamil Nadu, and Telangana.
• Brownfield sites refer to existing textile clusters or facilities that can be upgraded, while Greenfield sites are new undeveloped lands for fresh parks.
• Each PM MITRA Park spans at least 1,000 acres, integrating entire textile value chain from spinning to garmenting with common infrastructure like water, power, and effluent treatment.
• As of 2025, SPVs (Special Purpose Vehicles) have been formed for parks in Virudhunagar (Tamil Nadu), Warangal (Telangana), and others, targeting 10 lakh jobs.
• The scheme offers financial assistance up to Rs 500 crore per park for infrastructure, aiming to increase textile exports to USD 100 billion by 2030.
• Brownfield projects leverage existing ecosystems for faster implementation, while Greenfield ensures planned sustainable development.

Additional Information

• Textiles contribute 2% to India's GDP and employ over 45 million people.
• PM MITRA aligns with PLI Scheme for Textiles offering production-linked incentives.
• Seven parks: Gujarat, Haryana, Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana.
• SPV model ensures collaborative governance between Centre, State, and Industry.

The correct answer is All of the above.

In News

• Border Infrastructure and Management (BIM) Scheme covers states like Arunachal Pradesh, Jammu & Kashmir, Ladakh, and others along India's international borders.

Key Points

• The Border Infrastructure and Management (BIM) Scheme, approved in October 2021, has a total outlay of Rs 43,686 crore for the period 2021-22 to 2025-26 to strengthen border infrastructure.
• It applies to 17 border states and Union Territories including Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Jammu & Kashmir, Ladakh, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.
• The scheme focuses on constructing strategic roads, bridges, tunnels, and floodlights along borders with China, Pakistan, Nepal, Bhutan, Myanmar, and Bangladesh to improve defence preparedness and civilian connectivity.
• Key components include Border Roads Organisation (BRO) projects, Integrated Border Management System (IBMS), and floating bridges for flood-prone areas.
• As of 2025, over 500 projects have been sanctioned under BIM, with significant progress in high-altitude regions like Ladakh and Arunachal Pradesh.
• The scheme enhances economic development by promoting tourism, trade, and local employment in border villages through better infrastructure access.

Additional Information

• BRO (Border Roads Organisation) is the nodal agency executing most road projects under BIM since 1960.
• India shares 15,200 km land border with seven neighbours, necessitating robust infrastructure for national security.
• The scheme integrates with the Vibrant Villages Programme for developing 2,967 border villages along China border.
• Funding is 90:10 Centre-State for most states, fully central for UTs like Ladakh.

The correct answer is India, United States, Japan, Australia.

In News

• The QUAD’s first ‘At Sea Observer Mission’ involved India, the United States, Japan and Australia conducting joint maritime activities in the Indo-Pacific.

Key Points

• The mission focused on coordinated patrols, information sharing, and observation of maritime operations.
• It aimed to strengthen interoperability and trust among QUAD navies in key sea lanes.
• Activities highlighted commitment to a free, open, inclusive and rules-based Indo-Pacific.
• It supplemented existing QUAD cooperation like Malabar naval exercises and HADR initiatives.
• Observers monitored maritime traffic patterns, illegal activities, and security challenges.
• Mission showcased QUAD’s growing security and defence cooperation dimension.

Additional Information

• QUAD is an informal strategic forum among India, US, Japan and Australia.
• Key areas of QUAD cooperation include vaccines, critical technologies, climate, and maritime security.
• Indo-Pacific is a strategic maritime region connecting Indian and Pacific Oceans.
• Maritime domain awareness is crucial for countering piracy, trafficking, and illegal fishing.