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Daily Current Affairs
15 & 16 February, 2026
1. The Urban Challenge Fund (UCF) requires what minimum percentage of project cost to be raised from market sources?
A) 25%
B) 40%
C) 50%
D) 60%
E) 75%
Answer: C) 50%
Explanation: Under the Urban Challenge Fund (UCF), at least 50% of the project cost must be mobilised through market sources such as municipal bonds, bank loans, and PPPs. The Central Government provides 25% assistance to encourage market-linked funding and reduce dependence on grants.
2. Seva Teerth complex houses which of the following institutions?
A) Finance Ministry and Defence Ministry
B) PMO, NSCS and Cabinet Secretariat
C) RBI and SEBI
D) NITI Aayog and Election Commission
E) Supreme Court and Law Ministry
Answer: B) PMO, NSCS and Cabinet Secretariat
Explanation: Seva Teerth consolidates major decision-making institutions including the Prime Minister’s Office (PMO), National Security Council Secretariat (NSCS), and the Cabinet Secretariat to improve coordination and governance efficiency.
3. The Sangtam community, recently in news for wildlife conservation, primarily resides in which state?
A) Manipur
B) Mizoram
C) Nagaland
D) Arunachal Pradesh
E) Meghalaya
Answer: C) Nagaland
Explanation: The Sangtam is a recognised Naga tribe mainly residing in Kiphire and Tuensang districts of Nagaland. The community recently passed a resolution to protect pangolins.
4. The AI Impact Summit 2026 is being hosted at which venue?
A) Vigyan Bhavan
B) Bharat Mandapam
C) India Habitat Centre
D) Pragati Maidan Hall No. 1
E) Rashtrapati Bhavan
Answer: B) Bharat Mandapam
Explanation: The AI Impact Summit 2026 is being held at Bharat Mandapam, New Delhi. It is the fourth edition of the global summit and the first hosted in a Global South country.
5. Commercial Papers (CPs) are primarily issued by:
A) Reserve Bank of India
B) Commercial Banks only
C) Corporates and Financial Institutions
D) State Governments
E) Insurance Companies only
Answer: C) Corporates and Financial Institutions
Explanation: Commercial Papers (CPs) are short-term unsecured promissory notes issued by corporates, NBFCs, and financial institutions to meet working capital requirements.
6. Certificates of Deposit (CDs) are considered safer than CPs mainly because:
A) They are government guaranteed
B) They are long-term instruments
C) They are backed by gold reserves
D) They are issued by regulated banks
E) They are tax-free
Answer: D) They are issued by regulated banks
Explanation: CDs are issued by banks and regulated financial institutions under RBI norms. Since banks are highly regulated, CDs are perceived to have lower credit risk compared to corporate-issued CPs.
7. Under RBI’s restored Default Loss Guarantee (DLG) framework, fintech guarantees are generally capped at approximately:
A) 2%
B) 5%
C) 10%
D) 15%
E) 25%
Answer: B) 5%
Explanation: Default Loss Guarantees in digital lending partnerships are usually capped at around 5% of the loan portfolio. This allows limited risk-sharing between fintechs and NBFCs.
8. Under the Overseas Direct Investment (ODI) framework, an Indian company can generally invest abroad up to:
A) Twice its net worth
B) Three times its net worth
C) Four times its net worth or $1 billion (whichever is lower)
D) Unlimited amount
E) Only $500 million
Answer: C) Four times its net worth or $1 billion (whichever is lower)
Explanation: As per the Overseas Investment framework under FEMA, Indian companies can invest abroad up to four times their net worth or $1 billion, whichever is lower, subject to compliance conditions.
9. As per RBI’s new M&A financing rules, the maximum bank financing allowed for acquisition funding is:
A) 50%
B) 60%
C) 70%
D) 75%
E) 90%
Answer: D) 75%
Explanation: RBI guidelines allow banks to finance up to 75% of acquisition costs, while the acquirer must contribute at least 25% equity, ensuring shared financial responsibility.
10. APEDA was established under which Act?
A) Foreign Trade Act, 1992
B) APEDA Act, 1985
C) Agriculture Export Promotion Act, 1986
D) Food Safety Act, 2006
E) Essential Commodities Act, 1955
Answer: B) APEDA Act, 1985
Explanation: APEDA (Agricultural and Processed Food Products Export Development Authority) was established under the APEDA Act, 1985 and became operational in 1986 to promote agricultural exports from India.
