1. The DGFT recently tightened regulations related to duty-free import of which commodity under the Advance Authorisation scheme?
A) Crude oil
B) Gold
C) Silver
D) Copper
Answer: B) Gold
Explanation:
The Directorate General of Foreign Trade (DGFT) tightened norms for duty-free gold imports under the Advance Authorisation (AA) scheme for the gems and jewellery sector. The move aims to prevent misuse and plug loopholes in the import system.
Human Touch: Gold may shine in jewellery stores, but policymakers must ensure it doesn’t create loopholes in trade policy.
2. RBI recently eased rules for fintech partnerships related to:
A) UPI cash withdrawals
B) Cryptocurrency trading
C) Outward remittance services
D) Insurance distribution
Answer: C) Outward remittance services
Explanation:
The Reserve Bank of India removed the requirement of prior approval for fintech firms partnering with banks for outward remittance services. This is expected to improve ease of digital international payments.
Human Touch: Sending money abroad for education or family support could now become smoother and faster for many Indians.
3. SEBI proposed a hybrid settlement mechanism for which market segment?
A) Equity futures
B) Currency derivatives
C) Agricultural commodity derivatives
D) Bond trading
Answer: C) Agricultural commodity derivatives
Explanation:
SEBI proposed allowing select agri-commodity derivative contracts to begin with financial settlement before shifting to compulsory physical settlement.
Human Touch: The reform tries to balance farmer interests with market practicality — a delicate but important task.
4. India’s CPI inflation in April 2026 stood at:
A) 2.98%
B) 3.48%
C) 4.25%
D) 5.01%
Answer: B) 3.48%
Explanation:
Retail inflation rose to 3.48%, driven mainly by higher food and precious metal prices. Despite the rise, it remains within RBI’s comfort range.
Human Touch: Inflation may look like just a number, but it quietly affects every kitchen budget in the country.
5. Which bank became the first Taiwanese bank to establish a branch in GIFT City?
A) Bank of Taiwan
B) Mega International Commercial Bank
C) CTBC Bank Co. Ltd.
D) Taipei Fubon Bank
Answer: C) CTBC Bank Co. Ltd.
Explanation:
CTBC Bank opened its branch in Gujarat International Finance Tec-City (GIFT City), marking the first Taiwanese banking presence in India’s IFSC ecosystem.
Human Touch: GIFT City is steadily transforming into India’s window to global finance.
6. The UDGAM portal launched by RBI helps citizens trace:
A) Digital gold holdings
B) Tax refunds
C) Unclaimed bank deposits
D) Insurance claims
Answer: C) Unclaimed bank deposits
Explanation:
The RBI informed the Supreme Court that 30 banks have now joined the UDGAM portal, which helps legal heirs and citizens locate unclaimed deposits.
Human Touch: Sometimes forgotten savings become a family’s unexpected financial support years later.
7. Who was appointed as the first Managing Director of Jio Platforms Limited?
A) Mukesh Ambani
B) Akash Ambani
C) Anant Ambani
D) Kiran Thomas
Answer: B) Akash Ambani
Explanation:
Akash Ambani was appointed the first Managing Director of Jio Platforms Limited for a five-year term beginning April 2026.
Human Touch: It marks a visible generational transition in one of India’s largest digital businesses.
8. Yoweri Museveni, recently sworn in again as President, belongs to which country?
A) Kenya
B) Tanzania
C) Uganda
D) Rwanda
Answer: C) Uganda
Explanation:
Yoweri Museveni took oath for his seventh presidential term after winning the January 2026 elections in Uganda.
Human Touch: Few leaders in modern politics have remained in power for as long as Museveni.
9. Which Chief Minister recently returned to office for a fifth term in Puducherry?
A) V. Narayanasamy
B) N. Rangasamy
C) Annamalai
D) Kiran Bedi
Answer: B) N. Rangasamy
Explanation:
AINRC leader N. Rangasamy was sworn in as Chief Minister of Puducherry for the fifth time after the Assembly elections.
Human Touch: In politics, long-term public trust is often the hardest victory to achieve repeatedly.
10. Two new spider species discovered in Nagaland were identified by:
A) Botanical Survey of India
B) Wildlife Institute of India
C) Zoological Survey of India
D) Forest Survey of India
Answer: C) Zoological Survey of India
Explanation:
The Zoological Survey of India discovered two new spider species — Psechrus ntu and Psechrus phenshunyu — in Nagaland.
Human Touch: Even today, India’s forests continue to reveal species unknown to science.
11. Which scheme was showcased by IIM Ahmedabad to the World Bank as a successful governance model?
A) PM Gati Shakti
B) BharatNet
C) SVAMITVA Scheme
D) PM-KISAN
Answer: C) SVAMITVA Scheme
Explanation:
IIM Ahmedabad presented the SVAMITVA Scheme as a successful model for rural property mapping and governance digitisation.
Human Touch: For rural families, official property records can mean dignity, security, and easier access to credit.
12. India is planning a subsea gas pipeline connecting Gujarat with which country?
A) Qatar
B) Saudi Arabia
C) UAE
D) Oman
Answer: D) Oman
Explanation:
India plans to build a ₹40,000 crore subsea gas pipeline connecting Oman and Gujarat to strengthen long-term energy security.
Human Touch: Energy pipelines are not just infrastructure — they are lifelines of economic growth.
13. India recently assumed the Chair of which global cybersecurity body for 2026–28?
A) Internet Governance Forum
B) Common Criteria Development Board
C) International Cyber Alliance
D) Global CERT Council
Answer: B) Common Criteria Development Board