Daily Current Affairs (DCA) 9&10 June, 2026

Daily Current Affairs Quiz
9&10 June, 2026

International Affairs

1. Bonn Climate Conference 2026 (SB64)

Context

The Bonn Climate Conference 2026, officially the 64th Sessions of the Subsidiary Bodies (SB64) under the United Nations Framework Convention on Climate Change (UNFCCC), is being held in Bonn, Germany. It is the mid-year technical and preparatory meeting ahead of the annual COP summit. The Global Climate and Health Alliance (GCHA) and other health advocacy groups have urged developed countries to triple public adaptation finance to USD 120 billion annually by 2035. Discussions also covered fossil fuel transition roadmaps, Belém Adaptation Indicators, food systems, and the Just Transition Mechanism agreed at COP30.

The Conference

• Event: Bonn Climate Conference 2026 (SB64).
• Hosted by: UNFCCC Secretariat, headquartered in Bonn, Germany.
• Nature: Mid-year, technical, and preparatory meeting ahead of the annual COP summit.
• Linked to: 64th Sessions of the Subsidiary Bodies (SB64).

What is the Bonn Climate Conference?

• A mid-year intersessional meeting under the UNFCCC.
• Held annually in Bonn, Germany, where the UNFCCC Secretariat is headquartered.
• It is the technical and political bridge between COP summits.
• Two key subsidiary bodies meet here:
  • SBSTA: Subsidiary Body for Scientific and Technological Advice.
  • SBI: Subsidiary Body for Implementation.
• The 2026 meeting is the 64th sessions, hence SB64.

What is the UNFCCC and the COP Process?

• UNFCCC (United Nations Framework Convention on Climate Change):
  • An international treaty adopted at the Rio Earth Summit in 1992.
  • Came into force in 1994.
  • Sets the overall framework for international cooperation on climate change.
• COP (Conference of the Parties):
  • The annual decision-making meeting of the UNFCCC.
  • COP1 was held in Berlin in 1995.
  • COP21 in Paris (2015) adopted the Paris Agreement.
  • COP30 (2025) was held in Belém, Brazil.
  • COP31 (2026) is the next major COP summit.

What is the Paris Agreement?

• Adopted at COP21 in Paris, December 2015.
• Came into force in 2016.
• Goal: Keep the global temperature rise well below 2°C above pre-industrial levels, and pursue efforts to limit it to 1.5°C.
• Built on Nationally Determined Contributions (NDCs) by each country.
• Includes provisions on mitigation, adaptation, finance, technology transfer, and loss and damage.

What is the Glasgow Climate Pact (COP26)?

• Adopted at COP26 in Glasgow, 2021.
• Set a target to double adaptation finance from 2019 levels by 2025, leading to about USD 40 billion annually.
• Recognised the need to phase down unabated coal power.
• Called for stronger NDCs and clearer rules under the Paris Agreement.

What was COP30 (Belém, Brazil, 2025)?

• Adopted the 59 Belém Adaptation Indicators to track adaptation progress globally.
• Created the new Just Transition Mechanism to support workers, communities, and economies through the shift to a low-carbon economy.
• Strengthened the Loss and Damage Fund operationalised at COP28 (Dubai, 2023).
• Continued Sharm el-Sheikh Joint Work on Agriculture and Food Security (launched at COP27, 2022).

Practice MCQs

Q1. With reference to the Bonn Climate Conference 2026, consider the following statements:

1. It is officially known as the 64th Sessions of the Subsidiary Bodies (SB64) under the UNFCCC.
2. It is being held in Bonn, Germany, where the UNFCCC Secretariat is headquartered.
3. It is the annual mid-year, technical and preparatory meeting ahead of the COP summit.
4. The Bonn Climate Conference replaces the annual COP summit.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the Bonn Climate Conference does not replace the annual COP summit; it is a technical and preparatory meeting held alongside.)

Q2. With reference to the demands made by health groups at SB64, consider the following statements:

1. Health groups led by the Global Climate and Health Alliance (GCHA) urged developed countries to triple public adaptation finance.
2. The new target proposed is USD 120 billion annually by 2035.
3. The earlier COP26 target was USD 40 billion annually.
4. The proposed adaptation finance is to be entirely private and market-based, not public and grant-based.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the call is specifically for public, grant-based adaptation finance, NOT for private, market-based finance.)

Q3. With reference to recent climate frameworks, consider the following statements:

1. The Belém Adaptation Indicators are a set of 59 indicators adopted at COP30 in 2025.
2. The Sharm el-Sheikh Joint Work on Agriculture and Food Security was launched at COP27 in 2022.
3. The Just Transition Mechanism was agreed at COP30 to support capacity building and technical cooperation.
4. The Loss and Damage Fund was created at COP21 in Paris in 2015.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the Loss and Damage Fund was created at COP27 (2022) and operationalised at COP28 (2023), NOT at COP21 in Paris in 2015.)

Q4. With reference to the UNFCCC and Paris Agreement, consider the following statements:

1. The UNFCCC was adopted at the Rio Earth Summit in 1992 and entered into force in 1994.
2. The Paris Agreement was adopted at COP21 in 2015 and came into force in 2016.
3. The Paris Agreement aims to keep global temperature rise well below 2°C and pursue efforts to limit it to 1.5°C above pre-industrial levels.
4. The UNFCCC and Paris Agreement reject the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; CBDR-RC is a foundational principle of both the UNFCCC and the Paris Agreement.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the Bonn Climate Conference does not replace the COP summit.
2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the call is for public, grant-based finance.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the Loss and Damage Fund was created at COP27 (2022), not COP21 (2015).
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because CBDR-RC is a foundational principle of the UNFCCC and Paris Agreement.

National Affairs

1. Major Abhilasha Barak Conferred UN Military Gender Advocate of the Year Award

Source: News on Air

Context:

Prime Minister of India has congratulated Major Abhilasha Barak of the Indian Army on being conferred the prestigious United Nations Military Gender Advocate of the Year Award. Major Barak is currently deployed with the United Nations Interim Force in Lebanon (UNIFIL) along the Blue Line between Lebanon and Israel, and serves as a Gender Focal Point and engagement team commander. With this award, she becomes the third Indian woman officer to win the recognition, after Major Suman Gawani (2019) and Major Radhika Sen (2023).

The Awardee

• Awardee: Major Abhilasha Barak, Indian Army officer.
• Award: UN Military Gender Advocate of the Year Award.
• Deployment: United Nations Interim Force in Lebanon (UNIFIL).
• Operational Region: Blue Line, between Lebanon and Israel.
• Roles: Engagement Team Commander and Gender Focal Point.

About the Award

• Created in: 2016.
• Created by: Office of Military Affairs, under the UN Department for Peace Operations (DPO).
• Recognises: Frontline military peacekeepers who promote and implement the UN Security Council Resolution 1325 on Women, Peace, and Security.
• Selection pool: Nominated by Force Commanders and Heads of Mission from active UN peace operations worldwide.
• Annual award.

Indian Winners

• 2019: Major Suman Gawani, UN Mission in South Sudan (UNMISS).
• 2023: Major Radhika Sen, UN Stabilization Mission in DR Congo (MONUSCO).
• 2025/26: Major Abhilasha Barak, UN Interim Force in Lebanon (UNIFIL).

What is UN Security Council Resolution 1325?

• A landmark resolution adopted in October 2000 by the UN Security Council (UNSC).
• It is the first UNSC resolution to formally link women’s experiences of conflict to the maintenance of international peace and security.
• Built on four pillars:
  • Participation of women in peace processes and decision-making.
  • Protection of women and girls from violence in conflict.
  • Prevention of conflict and gender-based violence.
  • Relief and recovery with a gender perspective.
• It is the foundation document of the Women, Peace, and Security (WPS) Agenda.

What is UNIFIL?

• United Nations Interim Force in Lebanon.
• A UN peacekeeping mission established in March 1978 through UNSC Resolution 425 and 426.
• Originally created to confirm Israeli withdrawal from southern Lebanon and restore international peace and security.
• After the 2006 Israel-Hezbollah war, its mandate was expanded under UNSC Resolution 1701.
• It monitors the Blue Line, supports the Lebanese Armed Forces (LAF), and provides humanitarian assistance.
• Headquarters: Naqoura, southern Lebanon.
• India is one of the largest troop contributors to UNIFIL.

What is the Women, Peace and Security (WPS) Agenda?

• A policy framework built on UNSC Resolution 1325 (2000) and subsequent resolutions (1820, 1888, 1889, 1960, 2106, 2122, 2242).
• Calls for the participation of women in peace processes, conflict prevention, and post-conflict reconstruction.
• Aims to protect women and girls from conflict-related sexual violence and gender-based violence.
• Promotes gender-responsive peace operations and post-conflict humanitarian assistance.

Practice MCQs

Q1. With reference to the UN Military Gender Advocate of the Year Award, consider the following statements:

1. It was created in 2016 by the Office of Military Affairs under the UN Department for Peace Operations.
2. It recognises military peacekeepers who promote UNSC Resolution 1325 on Women, Peace, and Security.
3. Major Abhilasha Barak is the third Indian woman officer to receive this award.
4. Major Radhika Sen of India received the award in 2023 for her service with MONUSCO.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to UN Security Council Resolution 1325 and the Women, Peace and Security (WPS) Agenda, consider the following statements:

1. UNSC Resolution 1325 was adopted in 2000.
2. It is built on four pillars: Participation, Protection, Prevention, and Relief and Recovery.
3. It is the foundation of the UN’s Women, Peace and Security Agenda.
4. UNSC Resolution 1325 is non-binding and has no relevance to UN peacekeeping operations.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; Resolution 1325 is a UNSC resolution and is central to UN peacekeeping operations.)

Q3. With reference to UNIFIL and the Blue Line, consider the following statements:

1. UNIFIL was established in March 1978 through UNSC Resolution 425 and 426.
2. After the 2006 Israel-Hezbollah war, UNIFIL’s mandate was expanded under UNSC Resolution 1701.
3. The Blue Line is a demarcation line drawn by the UN in 2000 between Lebanon and Israel.
4. UNIFIL is headquartered in Tehran, Iran.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; UNIFIL is headquartered in Naqoura, southern Lebanon, NOT Tehran.)

Q4. With reference to India’s role in UN peacekeeping, consider the following statements:

1. India is one of the largest troop contributors to UN peacekeeping operations.
2. India has contributed to more than 49 UN peacekeeping missions since 1948.
3. India deployed the first all-women Formed Police Unit (FPU) of the UN in Liberia in 2007.
4. India has not had a single peacekeeper casualty in UN missions.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; more than 180 Indian peacekeepers have died in service of UN missions.)

Answer Key

1. (d), All four statements are correct.
2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because Resolution 1325 is a UNSC resolution central to UN peacekeeping.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because UNIFIL is headquartered in Naqoura, Lebanon.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because more than 180 Indian peacekeepers have died in UN service.

2. India Wins SAFF Women’s Championship 2026

Source: News on Air

Context:

The Indian Women’s Football Team has won the SAFF Women’s Championship 2026, the 8th edition of the tournament, by defeating Bangladesh 3-1 in the final at the Pandit Jawaharlal Nehru (Fatorda) Stadium, Margao, Goa. This is India’s 6th SAFF Women’s Championship title, and the first since 2019, breaking Bangladesh’s two consecutive titles in 2022 and 2024. The Prime Minister of India has congratulated the team on its win. India’s Sanfida Nongrum was named the MVP, Aveka Singh the Top Scorer, and Panthoi Chanu Elangbam the Best Goalkeeper.

The Tournament

• Event: SAFF Women’s Championship 2026 (8th edition).
• Organising body: South Asian Football Federation (SAFF).
• Host: India.
• Venue: Pandit Jawaharlal Nehru (Fatorda) Stadium, Margao, Goa.
• Frequency: Held approximately every two years.

SAFF Member Nations

• Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

The Final

• India (FIFA rank 69) vs Bangladesh (FIFA rank 112).
• Result: India 3-1 Bangladesh.

Practice MCQs

Q1. With reference to the SAFF Women’s Championship 2026, consider the following statements:

1. The 8th edition of the championship was hosted by India at the Pandit Jawaharlal Nehru (Fatorda) Stadium in Margao, Goa.
2. India defeated Bangladesh 3-1 in the final.
3. Pyari Xaxa, Sanfida Nongrum, and Lynda Kom scored the three goals for India in the final.
4. The tournament is held every year.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the SAFF Women’s Championship is held approximately every two years, not every year.)

Q2. With reference to the SAFF Women’s Championship history, consider the following statements:

1. India won the first five consecutive editions from 2010 to 2019.
2. Bangladesh won the 2022 and 2024 editions before India reclaimed the title in 2026.
3. Nepal has finished as runners-up six times in the tournament.
4. India’s 2026 title is its 6th overall in the championship.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q3. With reference to individual awards in the SAFF Women’s Championship 2026, consider the following statements:

1. Sanfida Nongrum of India was named the Most Valuable Player (MVP).
2. Aveka Singh of India was the top scorer with 4 goals.
3. Panthoi Chanu Elangbam of India was named the Best Goalkeeper.
4. Nepal received the Fair Play Award.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q4. With reference to football’s governing bodies, consider the following statements:

1. The South Asian Football Federation (SAFF) is the regional governing body for football in South Asia, founded in 1997.
2. SAFF is headquartered in Dhaka, Bangladesh.
3. The Asian Football Confederation (AFC) is the continental governing body of football in Asia.
4. The All India Football Federation (AIFF) governs football in India and is affiliated to FIFA and AFC.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the tournament is held approximately every two years.
2. (d), All four statements are correct.
3. (d), All four statements are correct.
4. (d), All four statements are correct.

Exam Relevance

Exam	Relevance
UPSC Prelims	GS Paper I on Sports (SAFF, AIFF, FIFA); GS Paper II on Regional groupings (SAFF)
UPSC Mains	GS Paper I on Sports and Women’s Empowerment; GS Paper II on Regional cooperation
BPSC and State PCS	Sports, Current Affairs
Banking and NABARD	General Awareness

3. e-Jagriti Platform Wins Silver Award at National Awards for e-Governance 2026

Source: News on Air

Context:

The Department of Consumer Affairs’ flagship AI-powered e-Jagriti platform has won the prestigious Silver Award at the National Awards for e-Governance 2026. Launched on 1 January 2025, e-Jagriti is an AI-enabled, paperless core portal that consolidates consumer dispute redressal across India into a single virtual environment. By merging four legacy systems, the platform aims to clear case backlogs, enable online filing and virtual hearings, and allow even NRIs to file consumer cases from abroad.

The Recognition

• Award: Silver Award at the National Awards for e-Governance 2026.
• Awardee: e-Jagriti Platform.
• Ministry: Department of Consumer Affairs, under the Ministry of Consumer Affairs, Food & Public Distribution.

The Platform

• Launched on: 1 January 2025.
• Nature: AI-enabled, paperless, cloud-based consumer dispute platform.
• Coverage: NCDRC and 35 State Commissions across India.
• Removes: The need for physical presence and paper documents.

What is e-Jagriti?

• A single, unified, digital portal for filing, tracking, and resolving consumer cases across India.
• Operates under the Consumer Protection Act, 2019.
• Uses AI, video conferencing, and cloud technology to modernise consumer justice.
• Tries to clear case backlogs, improve access, and reduce cost for consumers.

Key Terms

• e-Jagriti Platform: A unified, AI-powered digital portal for filing, tracking, and resolving consumer disputes across India.
• National Consumer Disputes Redressal Commission (NCDRC): The apex consumer redressal body in India, located in New Delhi.
• State Commissions: State-level consumer redressal bodies, with jurisdiction up to ₹2 crore.
• District Commissions: District-level consumer redressal bodies, with jurisdiction up to ₹50 lakh.
• CCPA (Central Consumer Protection Authority): A regulator established under the Consumer Protection Act, 2019, with powers to investigate, recall products, and act against misleading ads.
• Consumer Protection Act, 2019: The modern Indian law for consumer rights and dispute resolution, replacing the 1986 Act.
• Bharat Kosh, PayGov, SBI ePay: Government payment gateways used for secure digital payments to government departments.
• National Awards for e-Governance (NAeG): India’s premier awards for excellence in digital governance, given since 2003 by DARPG and MeitY.
• OCMS, e-Daakhil, NCDRC CMS, CONFONET: Earlier IT systems used by consumer commissions, now integrated into e-Jagriti.

Practice MCQs

Q1. With reference to the e-Jagriti Platform, consider the following statements:

1. e-Jagriti was launched by the Department of Consumer Affairs on 1 January 2025.
2. It is an AI-enabled, paperless, cloud-based platform for consumer dispute redressal.
3. It has merged four legacy systems: OCMS, e-Daakhil, NCDRC CMS, and CONFONET.
4. It covers only the National Consumer Disputes Redressal Commission (NCDRC) and excludes the State Commissions.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the platform covers the NCDRC and 35 State Commissions, NOT only the NCDRC.)

Q2. With reference to the features of the e-Jagriti Platform, consider the following statements:

1. The platform includes AI chatbots, voice-to-text transcription, and dashboards for tracking cases.
2. The platform supports filing and resolution of consumer disputes by NRIs from abroad.
3. The platform is integrated with payment gateways like Bharat Kosh, PayGov, and SBI ePay.
4. The platform won the Gold Award at the National Awards for e-Governance 2026.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the platform won the Silver Award, NOT the Gold Award.)

Q3. With reference to the Consumer Protection Act, 2019, consider the following statements:

1. The Consumer Protection Act, 2019 replaced the Consumer Protection Act, 1986.
2. The Act establishes the Central Consumer Protection Authority (CCPA) as a regulator.
3. The Act introduces the concepts of product liability, unfair contracts, and misleading advertisements.
4. The Act has no provisions related to e-commerce transactions.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the Consumer Protection Act, 2019 explicitly recognises e-commerce transactions.)

Q4. With reference to the three-tier consumer dispute redressal mechanism in India, consider the following statements:

1. District Commissions handle complaints involving values up to ₹50 lakh.
2. State Commissions handle complaints with values between ₹50 lakh and ₹2 crore.
3. The National Consumer Disputes Redressal Commission (NCDRC) handles complaints with values above ₹2 crore.
4. The Reserve Bank of India is the apex consumer dispute redressal body in India.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the NCDRC, not the RBI, is the apex consumer redressal body in India.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the platform covers both the NCDRC and 35 State Commissions.
2. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the platform won the Silver Award, not the Gold Award.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the Act explicitly recognises e-commerce transactions.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the NCDRC, not the RBI, is the apex consumer redressal body.

4. Union Minister Piyush Goyal Launches BHAVYA Portal

Source: News on Air

Context:

The Union Minister of Commerce and Industry has launched the BHAVYA Portal in New Delhi, formally operationalising the Cabinet-approved ₹33,660 crore Bharat Audyogik Vikas Yojana (BHAVYA) scheme. The scheme aims to build 100 world-class, investment-ready industrial parks across India. The BHAVYA Portal acts as a single-window digital platform for state project submissions, construction tracking, and investor mapping, while the scheme is implemented through a challenge-based, tiered, public-private partnership model with the National Industrial Corridor Development Corporation (NICDC) as the nodal execution body.

The Scheme and the Portal

• Scheme: Bharat Audyogik Vikas Yojana (BHAVYA).
• Total outlay: ₹33,660 crore (Cabinet-approved).
• Aim: Build 100 world-class industrial parks across India.
• Portal: BHAVYA Portal, a single-window digital management platform.
• Launched by: Union Minister of Commerce and Industry.
• Ministry: Ministry of Commerce and Industry.
• Nodal execution body: National Industrial Corridor Development Corporation (NICDC).

The Funding Model

• State Governments: Provide the physical land.
• Central Government (through NICDC): Funds the primary infrastructure.
• Sharing pattern: 51:49 joint partnership model.

Key Features of the Parks

• Plug-and-play industrial plots with ready infrastructure.
• Special spaces for deep-tech, start-ups, R&D labs, and Global Capability Centres (GCCs).
• In-house quality testing labs, in partnership with BIS, Export Inspection Agency (EIA), and FSSAI.
• Global expatriate enclaves for investors from Japan, Singapore, South Korea, Switzerland, including housing and social infrastructure.

What is the National Industrial Corridor Development Corporation (NICDC)?

• A special purpose vehicle (SPV) of the Government of India for developing industrial corridors.
• Earlier known as DMICDC (Delhi-Mumbai Industrial Corridor Development Corporation).
• Implements major industrial corridor projects like the Delhi-Mumbai, Chennai-Bengaluru, Amritsar-Kolkata, Bengaluru-Mumbai, Vizag-Chennai, and others.
• Acts as the nodal agency for greenfield industrial city development.

What Are Global Capability Centres (GCCs)?

• Captive offshore centres set up by global multinational corporations (MNCs) in India.
• Perform functions like R&D, IT services, finance, HR, analytics, AI, engineering, and design.
• India is the world’s leading hub for GCCs, with over 1,500 centres employing about 1.66 million professionals.
• GCCs are a major source of high-skilled jobs and FDI.

Practice MCQs

Q1. With reference to the Bharat Audyogik Vikas Yojana (BHAVYA), consider the following statements:

1. The scheme has a total outlay of ₹33,660 crore.
2. It aims to develop 100 world-class industrial parks across India.
3. The National Industrial Corridor Development Corporation (NICDC) is the nodal execution body.
4. The scheme is administered by the Ministry of External Affairs.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the scheme is administered by the Ministry of Commerce and Industry, NOT the Ministry of External Affairs.)

Q2. With reference to the BHAVYA Portal, consider the following statements:

1. The portal acts as a single-window digital management platform for India’s new industrial parks.
2. It enables state project submissions, real-time construction tracking, and investor mapping.
3. The scheme uses a challenge-based selection model where states must submit DPRs to win projects.
4. States receive funds automatically without any project proposal under the BHAVYA scheme.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; states must compete and submit DPRs under a challenge-based model; they do not receive funds automatically.)

Q3. With reference to the design of the BHAVYA industrial parks, consider the following statements:

1. The parks are tiered by region: 25 acres for hilly regions and UTs, 100-500 acres for mid-sized states, and up to 1,000 acres for urban peripheries.
2. The funding follows a 51:49 joint partnership model, with the Centre funding primary infrastructure and the State providing land.
3. The parks will feature plug-and-play industrial plots with ready infrastructure.
4. The parks will include specialised spaces for deep-tech, start-ups, R&D labs, and Global Capability Centres (GCCs).

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q4. With reference to related institutions and concepts, consider the following statements:

1. The Bureau of Indian Standards (BIS) is India’s national standards body.
2. The Food Safety and Standards Authority of India (FSSAI) regulates food safety and standards.
3. Global Capability Centres (GCCs) are captive offshore centres of global MNCs in India, with India being the world’s leading hub.
4. The NICDC is the regulator of the Indian capital market.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the NICDC is an SPV for industrial corridor development, NOT a capital market regulator. SEBI is the capital market regulator.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the scheme is administered by the Ministry of Commerce and Industry, not the Ministry of External Affairs.
2. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because states must compete through DPRs, not receive funds automatically.
3. (d), All four statements are correct.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the NICDC is an SPV for industrial corridor development, not a capital market regulator.

5. 10th anniversary of the Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA)

Source: PIB

Context

Two separate government initiatives in the news. First, the Ministry of Health and Family Welfare has begun nationwide celebrations to mark the 10th anniversary of the Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA) under the theme “10 Years of PMSMA, A Decade of Care”. The scheme, launched on 9 June 2016, offers free, assured, comprehensive antenatal care (ANC) to all pregnant women. Second, the Union Minister of State for Environment, Forest and Climate Change has launched the NZP Saathi App and self-ticketing kiosks at the National Zoological Park (NZP), New Delhi, to make zoo visits smart, app-guided, and cashless.

PRADHAN MANTRI SURAKSHIT MATRITVA ABHIYAN (PMSMA)

Key Facts

• Scheme: Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA).
• Launched on: 9 June 2016.
• Launched by: PM Narendra Modi.
• Ministry: Ministry of Health and Family Welfare (MoHFW).
• 10th anniversary theme: “10 Years of PMSMA, A Decade of Care”.
• Core service: Free, assured, comprehensive antenatal care (ANC).
• Date of service: 9th of every month, all government facilities conduct special PMSMA sessions.
• Single-window package: Clinical check-ups, counselling, medicines, lab tests, and one ultrasound scan in a single visit.

About e-PMSMA

• Name-based line listing of pregnant women, especially high-risk cases.
• Real-time digital monitoring through online portals and mobile apps.
• Facilities can hold up to 4 sessions per month for extended coverage.
• 45-day healthy outcome window tracks both mother and newborn.
• Transport assistance under JSSK (Janani Shishu Suraksha Karyakaram).

What is RMNCH+A?

• A strategic approach of the MoHFW to address Reproductive, Maternal, Newborn, Child and Adolescent Health in a continuum.
• Focuses on interventions across the life cycle, from adolescence to motherhood, newborns, and children.

What is JSSK?

• Janani Shishu Suraksha Karyakaram, launched in 2011.
• Provides free delivery, free C-section, free drugs, free diagnostics, free diet, free blood transfusion, and free transport for pregnant women and sick newborns.
• Designed to eliminate out-of-pocket spending on maternal and newborn care.

Practice MCQs (Item 1)

Q1. With reference to the Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA), consider the following statements:

1. PMSMA was launched on 9 June 2016 by PM Narendra Modi.
2. The scheme provides free assured comprehensive antenatal care (ANC) on the 9th of every month.
3. The scheme uses a green sticker for normal pregnancies and a red sticker for high-risk pregnancies on the MCP card.
4. The scheme is implemented by the Ministry of External Affairs.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the scheme is implemented by the Ministry of Health and Family Welfare, NOT the Ministry of External Affairs.)

Q2. With reference to PMSMA and related maternal health initiatives, consider the following statements:

1. PMSMA is a pillar of the Continuum of Care approach under the RMNCH+A strategy.
2. JSSK (Janani Shishu Suraksha Karyakaram), launched in 2011, offers free transport, drugs, diagnostics, and delivery services.
3. e-PMSMA includes name-based line listing and real-time digital monitoring of high-risk pregnancies.
4. India’s Maternal Mortality Ratio (MMR) has been falling and stands around 87 per 1,00,000 live births.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key (Item 1)

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the scheme is implemented by the MoHFW.
2. (d), All four statements are correct.

6. Land Port Management System (LPMS)

Source: Times of India

Context

The Union Home Minister of India has launched the Land Port Management System (LPMS) in New Delhi, a centralised electronic platform to digitise and unify operations across India’s international land borders. Developed by the Land Ports Authority of India (LPAI), the platform aims to bring land ports on par with airports and seaports in digital efficiency, while supporting trade facilitation, secure border management, and the Viksit Bharat 2047 vision. The LPMS offers single-window registration, advance slot booking, BI analytics, ICEGATE customs integration, automated security operations, warehouse management, and unified digital payments.

The Platform

• Name: Land Port Management System (LPMS).
• Launched by: Union Home Minister of India.
• Developer: Land Ports Authority of India (LPAI).
• Nature: Centralised electronic platform to digitise and unify operations at India’s international land borders.

Why is LPMS Needed?

• India shares long land borders with multiple neighbours, with active trade through specific Integrated Check Posts (ICPs).
• Airports and seaports already use advanced digital systems, but land borders have lagged.
• This lag has caused delays, paperwork burden, congestion at borders, and weaker data trails for trade and security.

Key Features of the System

• Unified Onboarding (SRR): A Single Registration Request (SRR) system, so stakeholders submit information only once.
• Predictive Slot and Dwell Management: Advance slot booking based on real-time capacity at ICPs, plus wait-time forecasting.
• Automated Security and Gate Operations: Digitally records shipment details, transport manifests, and gate movements, integrated with Full Body Truck Scanners.
• Business Intelligence (BI) Analytics: Dashboards with real-time insights on cargo, containers, transit, and efficiency.
• Direct ICEGATE Integration: Auto-filing of Shipping Bills and Bills of Entry for customs.
• Yard and Warehouse Management: Efficient space allocation, reduced congestion, and better cargo handling.
• Unified Single-Window Payments: Customs duties, parking, weighbridge, and terminal charges in a single digital gateway.

What is the Land Ports Authority of India (LPAI)?

• A statutory body under the Ministry of Home Affairs.
• Set up under the Land Ports Authority of India Act, 2010.
• Responsible for the planning, development, operation, and management of Integrated Check Posts (ICPs) along India’s international land borders.
• Similar in role to Airports Authority of India (AAI) for airports and Major Port Authorities for seaports.
• Headquartered in New Delhi.

What is an Integrated Check Post (ICP)?

• A modernised border facility that brings together various agencies under one roof for smoother passenger and cargo movement.
• Typically includes Customs, Immigration, BSF/SSB, plant and animal quarantine, warehousing, currency exchange, banking, and other services.
• Replaces scattered, ad hoc arrangements of past land border posts.
• Major ICPs include:
  • Attari (India-Pakistan).
  • Petrapole (India-Bangladesh).
  • Agartala (India-Bangladesh).
  • Raxaul (India-Nepal).
  • Jogbani (India-Nepal).
  • Moreh (India-Myanmar).
  • Phuentsholing/Jaigaon (India-Bhutan).

What is ICEGATE?

• The Indian Customs Electronic Data Interchange Gateway (ICEGATE).
• An online portal of the Central Board of Indirect Taxes and Customs (CBIC).
• Allows traders and customs agents to file customs documents like Shipping Bills and Bills of Entry electronically.
• LPMS will link directly with ICEGATE, reducing duplication and speeding up customs clearance.

Practice MCQs

Q1. With reference to the Land Port Management System (LPMS), consider the following statements:

1. The LPMS has been developed by the Land Ports Authority of India (LPAI).
2. The platform is designed to digitise and unify operations across India’s international land borders.
3. It uses a Single Registration Request (SRR) system where stakeholders submit information only once.
4. The LPMS is administered by the Ministry of Civil Aviation.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the LPAI is under the Ministry of Home Affairs, NOT the Ministry of Civil Aviation.)

Q2. With reference to the features of the LPMS, consider the following statements:

1. It enables advance slot booking based on real-time capacity at Integrated Check Posts (ICPs).
2. It integrates with Full Body Truck Scanners for cargo and security monitoring.
3. It connects directly to ICEGATE for automatic submission of Shipping Bills and Bills of Entry.
4. The platform offers a unified single-window digital payment gateway for customs and terminal charges.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q3. With reference to the Land Ports Authority of India (LPAI) and Integrated Check Posts (ICPs), consider the following statements:

1. LPAI is a statutory body set up under the Land Ports Authority of India Act, 2010.
2. LPAI functions under the Ministry of Home Affairs.
3. Attari (India-Pakistan), Petrapole (India-Bangladesh), and Raxaul (India-Nepal) are among India’s important ICPs.
4. ICPs are operated entirely by private logistics firms, with no role for government agencies.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; ICPs are operated through multiple government agencies like Customs, Immigration, and BSF/SSB, NOT private logistics firms alone.)

Q4. With reference to India’s broader logistics and trade-facilitation framework, consider the following statements:

1. ICEGATE is the online portal of the CBIC for electronic filing of customs documents.
2. PM Gati Shakti is a GIS-based digital platform for integrated infrastructure planning across ministries.
3. The National Logistics Policy aims to reduce logistics costs and improve efficiency.
4. The LPMS is fully unrelated to India’s broader logistics and trade-facilitation framework.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the LPMS is closely aligned with India’s broader logistics, trade facilitation, and digital governance push.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because LPAI is under the Ministry of Home Affairs.
2. (d), All four statements are correct.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because ICPs are operated by government agencies, not private logistics firms alone.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the LPMS is closely aligned with India’s broader logistics framework.

Banking/Finance

1. RBI Opens a USD-Rupee Swap Window at Fixed 1.5 Per Cent Cost

Source: The Economic Times

Context

The Reserve Bank of India (RBI) has formally opened a dollar-rupee swap window for banks at a fixed cost of 1.5 per cent per annum (compounded semi-annually), with maturities up to 5 years. This is the operational follow-through to Governor Sanjay Malhotra’s monetary policy statement last week, where the RBI announced support for hedging costs. The facility will help PSUs raising External Commercial Borrowings (ECBs) and banks raising Overseas Foreign Currency Borrowings (OFCBs) with minimum 3-year maturity. The window is available for ECBs drawn till 31 December 2026, when market hedging costs have risen to 3.5 to 4 per cent.

The Swap Window

• Issued by: Reserve Bank of India.
• Effective: Following the June 2026 monetary policy statement.
• Type: USD-Rupee buy-sell swap.
• Cost: Fixed at 1.5 per cent per annum, compounded semi-annually.
• Available maturities: Up to 5 years.
• Minimum maturity: 3 years.
• Window for PSU ECBs: Till 31 December 2026.

Who Can Use the Window?

• Public Sector Undertakings (PSUs) raising External Commercial Borrowings (ECBs).
• Banks raising Overseas Foreign Currency Borrowings (OFCBs).
• Available also for undrawn portions of existing ECBs.

How a Swap Works in Simple Steps

• A bank wants to use dollar funds (raised through ECBs or OFCBs) for rupee-denominated activity in India.
• The bank sells dollars to the RBI today and gets rupees in exchange.
• The bank commits to buy back the same amount of dollars from the RBI at the end of the swap period (up to 5 years).
• The buy-back rate is pre-fixed, so the bank is fully hedged against rupee depreciation.
• The cost of this hedge (now 1.5 per cent, against market 3.5 to 4 per cent) is what makes the facility attractive.

Why is This So Important Right Now?

• The rupee has been weakening.
• FPI outflows have hit Indian markets.
• The RBI wants more dollars flowing into India to stabilise the rupee and build forex reserves.
• Cheaper hedging lets PSUs and banks raise more foreign currency funding, helping the balance of payments.

Key Terms

• Foreign Exchange Swap (FX Swap): A contract where two parties exchange currencies now and agree to reverse the exchange at a later date at a pre-agreed rate.
• Hedging: The process of protecting against unfavourable movements in exchange rates, interest rates, or commodity prices, using financial instruments.
• Hedging Cost: The price paid for hedging protection, usually a percentage per annum.
• External Commercial Borrowings (ECBs): Loans in foreign currency raised by Indian entities from foreign lenders, subject to RBI rules.
• Overseas Foreign Currency Borrowings (OFCBs): A special category of foreign currency borrowings by banks to fund overseas operations or lending.
• PSU (Public Sector Undertaking): A government-owned business enterprise in India.
• Compounded Semi-Annually: A way of calculating interest where the interest is added to the principal twice a year, and future interest is calculated on the new total.
• FCNR(B): Foreign Currency Non-Resident (Bank) account, a foreign currency fixed deposit held in India by NRIs and OCIs.
• Forex Reserves: A country’s stock of foreign currency, gold, IMF reserve position, and SDRs, held by the central bank.
• Balance of Payments (BoP): A country’s complete record of economic transactions with the rest of the world.

Practice MCQs

Q1. With reference to the RBI’s USD-Rupee Swap Facility, consider the following statements:

1. The swap will be offered at a fixed rate of 1.5 per cent per annum, compounded semi-annually.
2. The facility is available for PSU ECBs and bank OFCBs with a minimum average maturity of three years.
3. The market hedging cost was about 3.5 to 4 per cent at the time of the announcement.
4. The window for PSU ECBs is available till 31 December 2026.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to ECBs and OFCBs, consider the following statements:

1. ECBs are foreign currency loans raised by Indian entities from foreign lenders, subject to RBI rules.
2. OFCBs are a category of foreign currency borrowings by banks to fund overseas operations or lending.
3. The RBI’s swap window covers PSU ECBs and bank OFCBs with at least 3-year maturity.
4. ECBs and OFCBs are exclusively governed by SEBI, not the RBI.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; ECBs and OFCBs are governed by the RBI, NOT SEBI.)

Q3. With reference to the macroeconomic rationale for the swap window, consider the following statements:

1. The package aims to make foreign currency borrowing cheaper for Indian entities.
2. The lower hedging cost can support larger foreign currency inflows into India.
3. Larger foreign currency inflows can support the rupee and forex reserves.
4. The RBI has set a formal target of USD 100 billion in inflows under this swap window alone.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the RBI has not set a formal target of USD 100 billion under this window.)

Q4. With reference to the RBI’s broader 5-pronged package and government tax measures, consider the following statements:

1. The package includes a concessional FX swap for PSU ECBs and full hedging support for 3- to 5-year FCNR(B) deposits.
2. The Fully Accessible Route (FAR) has been expanded to include all new 15-, 30-, and 40-year G-secs.
3. The government has scrapped the 20 per cent withholding tax on G-sec interest and the 12.5 per cent long-term capital gains tax for foreign investors in government bonds.
4. The export realisation period has been extended from 9 months to 15 months.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the export realisation period has been restored to 9 months, NOT extended to 15 months.)

Answer Key

1. (d), All four statements are correct.
2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because ECBs and OFCBs are governed by the RBI, not SEBI.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the RBI has not set a formal target.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the export realisation period has been restored to 9 months.

2. RBI Imposes ₹41.80 Lakh Penalty on Canara Bank for KYC and Account Classification Lapses

Context

The Reserve Bank of India (RBI) has imposed a penalty of ₹41.80 lakh on Canara Bank, a public sector lender, following a supervisory review that found critical lapses in Know Your Customer (KYC) norms and account classification. The penalty has been imposed under the Banking Regulation Act, 1949. The lapses were identified during the Statutory Inspection for Supervisory Evaluation (ISE 2025), which audited the bank’s operations as of 31 March 2025.

Key Facts

• Penalty amount: ₹41.80 lakh.
• Imposed by: Reserve Bank of India (RBI).
• Bank: Canara Bank (a public sector lender).
• Legal provisions used: Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
• Inspection: Statutory Inspection for Supervisory Evaluation (ISE 2025).

The Specific Lapses Identified

• KYC lapse: Canara Bank failed to upload KYC records of several customers to the Central KYC Records Registry (CKYCR) within the prescribed timelines.
• Account classification lapse: The bank misclassified certain accounts as inoperative, even though the last customer-induced transaction was less than one year old in those accounts.

What is the Banking Regulation Act, 1949?

• The main law that governs banking in India.
• Empowers the RBI to regulate, supervise, and inspect banks.
• Provides the legal framework for licensing, capital, governance, audit, and penalties in the banking sector.
• The RBI uses Section 47A of the Act to impose monetary penalties on banks for violations.

What is the Statutory Inspection for Supervisory Evaluation (ISE)?

• A routine on-site inspection of banks by the RBI.
• Audits a bank’s operations, governance, risk management, and regulatory compliance as on a specific reference date.
• Forms the basis for supervisory ratings and enforcement action if needed.

What is Know Your Customer (KYC)?

• A process used by banks and financial institutions to verify the identity and address of their customers.
• Mandatory under the Prevention of Money Laundering Act, 2002 (PMLA) and RBI rules.
• Documents commonly accepted include Aadhaar, PAN, Voter ID, driving licence, and passport.
• Aims to prevent money laundering, terror financing, and identity fraud.

What is the Central KYC Records Registry (CKYCR)?

• A central database of KYC records of customers across the financial sector.
• Maintained by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
• Banks, NBFCs, insurance companies, mutual funds, and other regulated entities are required to upload KYC records of customers to CKYCR within prescribed timelines.
• Avoids the need for multiple KYC submissions across the financial sector.
• A customer’s CKYC number can be used across multiple institutions.

What is an “Inoperative Account”?

• An account where no customer-induced transaction has happened for a specific period.
• Under RBI rules:
  • A savings or current account becomes inoperative if there has been no customer-induced transaction for more than 2 years.
  • System-generated entries like bank-credited interest or charges do not count as customer-induced transactions.
• Banks must review accounts annually and classify them correctly.
• Misclassification can inconvenience customers and lead to wrongful freezing of accounts.

RBI’s Wider Use of Section 47A

• The RBI regularly uses Section 47A of the Banking Regulation Act to impose monetary penalties on banks, NBFCs, and co-operative banks for:
  • KYC and AML lapses.
  • Cybersecurity lapses.
  • Credit and lending rule violations.
  • Failure to follow customer service standards.
• These penalties are part of the RBI’s supervisory toolkit, alongside directions, restrictions, and licence cancellations.

About Canara Bank

• A public sector bank headquartered in Bengaluru, Karnataka.
• Founded in 1906 at Mangaluru by Ammembal Subba Rao Pai.
• One of the oldest commercial banks in India.
• Nationalised in 1969.
• One of India’s largest PSBs by branch network and deposit base.
• After the 2020 merger, Syndicate Bank was merged with Canara Bank.

Practice MCQs

Q1. With reference to the RBI’s recent penalty on Canara Bank, consider the following statements:

1. The penalty of ₹41.80 lakh has been imposed under the Banking Regulation Act, 1949.
2. The penalty followed a Statutory Inspection for Supervisory Evaluation (ISE 2025) audit of operations as of 31 March 2025.
3. The lapses included a failure to upload KYC records to the Central KYC Records Registry (CKYCR) within prescribed timelines.
4. The penalty was imposed under the Companies Act, 2013.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the penalty was imposed under the Banking Regulation Act, 1949, NOT the Companies Act, 2013.)

Q2. With reference to KYC and the Central KYC Records Registry (CKYCR), consider the following statements:

1. KYC is a process used by banks and financial institutions to verify the identity and address of customers.
2. KYC is mandatory under the Prevention of Money Laundering Act, 2002 and RBI rules.
3. The Central KYC Records Registry (CKYCR) is maintained by CERSAI.
4. The CKYCR is a state-level database, separately maintained by each State Government.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; CKYCR is a central database, maintained by CERSAI under the Government of India, NOT a state-level database.)

Q3. With reference to “inoperative” accounts under RBI rules, consider the following statements:

1. A savings or current account becomes inoperative if there has been no customer-induced transaction for more than 2 years.
2. System-generated entries like bank-credited interest or charges do not count as customer-induced transactions.
3. Misclassification of accounts as inoperative can wrongfully restrict customer access to funds.
4. The classification of accounts as inoperative is decided by the customer alone, with no role for the bank.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the classification of accounts as inoperative is done by the bank, based on RBI rules, not by the customer alone.)

Q4. With reference to the regulatory framework for banks in India, consider the following statements:

1. The Banking Regulation Act, 1949 empowers the RBI to regulate, supervise, and inspect banks.
2. Section 47A of the Banking Regulation Act allows the RBI to impose monetary penalties on banks for specified violations.
3. Canara Bank is a public sector bank founded in 1906 at Mangaluru by Ammembal Subba Rao Pai.
4. The RBI was set up under the Banking Regulation Act, 1949.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the RBI was set up under the Reserve Bank of India Act, 1934, NOT the Banking Regulation Act, 1949.)

Answer Key

1. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the penalty was imposed under the Banking Regulation Act, 1949.
2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because CKYCR is a central database maintained by CERSAI.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the classification is done by the bank, not the customer alone.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the RBI was set up under the RBI Act, 1934.

3. India 5th Largest Military Spender at USD 92.1 Billion: SIPRI

Context:

The Stockholm International Peace Research Institute (SIPRI) has released its annual SIPRI Yearbook 2026: Armaments, Disarmament and International Security. The report ranks India as the world’s 5th-largest military spender in 2025, with defence expenditure of USD 92.1 billion (up 8.9 per cent from 2024). It also estimates that India’s nuclear warheads rose from 180 in 2025 to 190 as of January 2026. Global military expenditure reached USD 2.9 trillion in 2025, the 11th consecutive year of increase, while nine nuclear-armed states together held about 12,187 nuclear weapons.

India’s Military Profile (2025)

• Rank: 5th-largest military spender globally.
• Defence expenditure: USD 92.1 billion.
• Year-on-year growth: 8.9 per cent vs 2024.
• Nuclear arsenal: 180 warheads in 2025, rising to 190 as of January 2026.

Top Global Military Spenders (2025)

• 1. USA: USD 954 billion.
• 2. China: USD 336 billion.
• 3. Russia: USD 190 billion.
• 4 and 5: India (USD 92.1 billion) features at 5th, with Saudi Arabia or another country in the 4th slot (the article focuses on India’s position).

India’s Position on Nuclear Weapons

• India follows a doctrine of No First Use (NFU) (with some debate in recent years).
• Has a credible minimum deterrent.
• Nuclear Command Authority (NCA) is the apex body for nuclear weapons decisions, chaired by the Prime Minister.
• Strategic Forces Command (SFC) is responsible for operational control of India’s strategic nuclear forces.
• India is not a party to the Nuclear Non-Proliferation Treaty (NPT) or the Comprehensive Nuclear-Test-Ban Treaty (CTBT), but maintains a voluntary moratorium on nuclear testing since 1998.

What is SIPRI?

• Stockholm International Peace Research Institute, headquartered in Stockholm, Sweden.
• An independent international institute founded in 1966, dedicated to research on conflict, armaments, arms control, and disarmament.
• Best known for:
  • SIPRI Yearbook (flagship publication).
  • Annual data on global military expenditure.
  • Arms transfer data.
  • Trends in nuclear forces.

Practice MCQs

Q1. With reference to the SIPRI Yearbook 2026, consider the following statements:

1. India was the world’s 5th-largest military spender in 2025.
2. India’s defence expenditure reached USD 92.1 billion in 2025, an 8.9 per cent rise over 2024.
3. India’s estimated nuclear warheads rose from 180 in 2025 to 190 as of January 2026.
4. SIPRI is headquartered in Geneva, Switzerland.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; SIPRI is headquartered in Stockholm, Sweden, NOT Geneva, Switzerland.)

Q2. With reference to global military expenditure trends in 2025, consider the following statements:

1. Global military expenditure reached about USD 2.9 trillion in 2025.
2. This represents about 2.5 per cent of the world’s GDP.
3. Global military expenditure increased for the 11th consecutive year.
4. The United States, China, and Russia were the top three military spenders globally.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

Q3. With reference to global nuclear arsenals as of January 2026, consider the following statements:

1. There are nine nuclear-armed states: USA, Russia, UK, France, China, India, Pakistan, North Korea, and Israel.
2. Together, they hold about 12,187 nuclear weapons.
3. About 9,745 of these are in military stockpiles for potential use.
4. India has officially signed both the NPT and CTBT.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; India is not a party to either the NPT or the CTBT, but maintains a voluntary moratorium on nuclear testing since 1998.)

Q4. With reference to India’s nuclear doctrine and institutions, consider the following statements:

1. India’s nuclear doctrine includes the principle of No First Use (NFU).
2. The Nuclear Command Authority (NCA) is the apex body for nuclear weapons decisions in India, chaired by the Prime Minister.
3. The Strategic Forces Command (SFC) is responsible for the operational control of India’s strategic nuclear forces.
4. India is recognised as a Nuclear Weapon State under the NPT.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; India is not recognised as a Nuclear Weapon State under the NPT, since only the USA, Russia, UK, France, and China are recognised as such.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because SIPRI is headquartered in Stockholm, Sweden.
2. (d), All four statements are correct.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because India is not a party to the NPT or the CTBT.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because India is not recognised as a Nuclear Weapon State under the NPT.

3. RBI Recognises Sahamati Foundation as Self-Regulatory Organisation (SRO) for Account Aggregator (AA) Ecosystem

Source: BS

Context

The Reserve Bank of India (RBI) has formally recognised the Sahamati Foundation as the Self-Regulatory Organisation (SRO) for India’s Account Aggregator (AA) ecosystem. This creates a formal, industry-led governance framework for India’s consent-based financial data sharing network, which now connects 1,120 regulated entities, 17 operational AAs, over 294 million linked accounts, over 450 million consent requests, and over 290 million monthly data-sharing transactions. The recognition gives Sahamati a clear mandate to set industry standards, promote best practices, address operational challenges, and strengthen compliance.

The Recognition

• Recognising authority: Reserve Bank of India (RBI).
• Recognised entity: Sahamati Foundation.
• Role: Self-Regulatory Organisation (SRO) for India’s Account Aggregator (AA) ecosystem.

What Sahamati Will Do

• Act as the representative body for AA ecosystem participants.
• Promote collaboration among financial institutions, AAs, fintech firms, and other stakeholders.
• Help develop industry standards and promote best practices.
• Address operational challenges and strengthen compliance.

What is the Account Aggregator (AA) Framework?

• A consent-based, regulated digital framework in India.
• Enables individuals and businesses to securely share their financial data with authorised institutions via Account Aggregators.
• Built on principles of user consent, purpose limitation, time-bound access, and data minimisation.
• Launched by the RBI under the NBFC-Account Aggregator (NBFC-AA) framework, 2016.
• Live network launched in September 2021.

The Three Key Roles in the AA Ecosystem

• Financial Information Provider (FIP): An entity that holds the user’s data, like a bank, NBFC, mutual fund, insurance company, or pension fund.
• Financial Information User (FIU): An entity that uses the user’s data with consent to provide a service (like a loan, insurance, or investment advice).
• Account Aggregator (AA): A regulated, neutral entity that collects, encrypts, and transmits data from FIPs to FIUs, only with user consent.

What is a Self-Regulatory Organisation (SRO)?

• A non-government organisation recognised by a regulator (like the RBI, SEBI, or IRDAI) to set rules and supervise its industry members.
• It acts as an intermediate layer between the regulator and individual firms.
• It helps:
  • Develop industry standards.
  • Address operational issues.
  • Improve compliance.
  • Provide grievance redressal.
  • Promote best practices.
• Examples in India:
  • FIMMDA for fixed income markets.
  • FEDAI for foreign exchange dealers.
  • MFIN for microfinance institutions.
  • NPCI as a standard setter for retail payments.
  • Sahamati Foundation for the AA ecosystem (newly recognised).

Practice MCQs

Q1. With reference to the recent RBI recognition of Sahamati Foundation, consider the following statements:

1. The RBI has recognised Sahamati Foundation as the Self-Regulatory Organisation (SRO) for India’s Account Aggregator (AA) ecosystem.
2. The SRO will help develop industry standards, promote best practices, and strengthen compliance across the AA ecosystem.
3. Sahamati will act as the representative body for AA participants, including banks, AAs, and fintech firms.
4. The recognition was given by SEBI, not the RBI.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the recognition is by the RBI, NOT SEBI.)

Q2. With reference to the Account Aggregator (AA) framework, consider the following statements:

1. The AA framework is a consent-based digital framework regulated by the RBI.
2. The framework involves three key roles: Financial Information Provider (FIP), Financial Information User (FIU), and Account Aggregator (AA).
3. The AA acts as a neutral consent manager and transmits encrypted financial data from FIPs to FIUs.
4. The AA framework allows financial institutions to access user data without any user consent.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the AA framework is strictly consent-based, with no access without explicit user consent.)

Q3. With reference to the scale of India’s AA ecosystem, consider the following statements:

1. The ecosystem comprises about 1,120 regulated entities, including 17 operational AAs.
2. It has enabled over 294 million linked accounts.
3. It has supported over 450 million consent requests and over 290 million monthly data-sharing transactions.
4. The AA framework currently covers only banks, with no participation from mutual funds, insurance companies, or pension funds.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the AA framework covers banks, mutual funds, insurance companies, pension funds, and NBFCs, NOT only banks.)

Q4. With reference to Self-Regulatory Organisations (SROs) in India’s financial sector, consider the following statements:

1. FIMMDA is an SRO for the fixed income markets.
2. MFIN is an SRO for microfinance institutions.
3. NPCI plays a central role in retail payments standards in India.
4. SROs replace the regulator and have no obligation to follow regulatory rules.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; SROs operate under the regulator’s oversight, NOT in place of it.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the recognition is by the RBI, not SEBI.
2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the AA framework is strictly consent-based.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the AA framework covers banks, mutual funds, insurance companies, pension funds, and NBFCs.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because SROs operate under the regulator’s oversight.

Exam Relevance

Exam	Relevance
UPSC Prelims	GS Paper II on Statutory and Regulatory bodies (RBI, SRO); GS Paper III on Indian Economy (DPI, AA framework)
UPSC Mains	GS Paper II on Government policies; GS Paper III on Indian Economy, Financial Inclusion, Data Governance
BPSC and State PCS	Economy, Banking, Current Affairs
Banking (RBI Gr B, SBI PO, IBPS, NABARD)	Very high importance, AA framework, SROs, DPI, fintech
RBI Grade B	Core area on banking and DPI
SEBI Grade A and IRDAI Grade A	Financial regulation, SROs, data governance

Agriculture

1. Urea Subsidy Reform Long Overdue

Source: Business Standard

Context

The urea subsidy is the last unreformed subsidy in India’s welfare and farm support system, the editorial argues. The Department of Fertilisers is now seeking a doubling of the Budget allocation, citing the spike in petrochemical prices after the blocking of the Strait of Hormuz. India’s fertiliser subsidy could rise to ₹3.4 trillion in FY27, well above the previous peak of ₹2.5 trillion in FY23 (post the Russia-Ukraine war). The editorial calls for a shift to a nutrient-based, direct-benefit subsidy regime, where benefits go to farmers, not fertiliser companies, addressing concerns of fiscal sustainability, transparency, fairness, soil health, and food security.

The Core Distortion

• Urea is heavily subsidised, with the government bearing about 90 per cent of the actual market cost.
• Phosphorus (P) and potassium (K)-based fertilisers have been allowed some price adjustment under the Nutrient-Based Subsidy (NBS) scheme.
• But urea (the nitrogenous fertiliser) has been kept out of NBS and its price kept administered.
• This has led to distorted N:P:K usage, with farmers using too much urea relative to P and K.

Consequences of the Current Structure

• Fiscal stress: Subsidy bill is highly unpredictable and rising sharply.
• Black-marketing and diversion: Big gaps between administered and market prices encourage leakages.
• Soil degradation: Over-use of urea harms soil quality and long-term productivity.
• Unfair distribution: Subsidy is disproportionately captured by large wheat and rice farmers in certain states.
• Environmental harm: Excess nitrogen leads to groundwater nitrate pollution, eutrophication, and greenhouse gas (N2O) emissions.

What is the Nutrient-Based Subsidy (NBS) Scheme?

• Launched in April 2010 for non-urea fertilisers, mainly P (phosphorus) and K (potassium)-based fertilisers like DAP, MOP, and complexes.
• Under NBS, the subsidy is fixed per nutrient (N, P, K, S), and manufacturers and importers are free to set the maximum retail price, with the difference covered by government subsidy.
• This partially decontrolled the non-urea fertiliser market.
• Urea remained outside NBS, with the government controlling both price and subsidy.

Why Has Urea Stayed Outside Reform?

• Urea is the most-used fertiliser in India.
• It is consumed in massive quantities by wheat, rice, and other staple crops.
• Politically, raising urea prices is sensitive because of mass farmer exposure.
• Successive governments have avoided the political cost of reform.

What is the Soil Health Concern?

• The ideal N:P:K ratio for Indian soils is roughly 4:2:1.
• Actual usage in many regions is closer to 10:3:1 or 8:3:1, skewed heavily towards N (urea).
• This causes:
  • Loss of soil organic carbon.
  • Decline in micronutrients (zinc, boron, sulphur).
  • Higher pest susceptibility.
  • Lower fertiliser response per kg applied.
• The Soil Health Card Scheme and the PM-PRANAM scheme are partial responses, but the incentive structure remains skewed.

What is the Strait of Hormuz and Why is It Important Here?

• A narrow strip of water between Iran and Oman, connecting the Persian Gulf to the Arabian Sea.
• About 20 to 25 per cent of global oil and a large share of LNG trade passes through this chokepoint.
• A blockage raises oil and gas prices sharply.
• Urea is made from natural gas, so natural gas prices are a major input in urea costs.
• Hence, a Strait of Hormuz disruption flows directly into India’s urea import bill and subsidy outgo.

Practice MCQs

Q1. With reference to India’s fertiliser subsidy outlook for FY27, consider the following statements:

1. The Union Budget initially estimated a fertiliser subsidy of about ₹1.7 trillion for FY27.
2. The Department of Fertilisers is now seeking a doubling of the budget allocation, which could take the subsidy to about ₹3.4 trillion.
3. The previous peak in fertiliser subsidy was about ₹2.5 trillion in FY23, after the Russia-Ukraine war.
4. The recent spike has been triggered by a sharp fall in global petrochemical prices.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; the recent spike is due to a rise, NOT a fall, in petrochemical prices, linked to the Strait of Hormuz disruption.)

Q2. With reference to the structure of India’s fertiliser subsidy, consider the following statements:

1. Urea has remained outside the Nutrient-Based Subsidy (NBS) scheme.
2. The Nutrient-Based Subsidy (NBS) was launched in April 2010 for non-urea fertilisers.
3. The government bears about 90 per cent of the actual market cost of urea.
4. India’s fertiliser sector has fully shifted to a direct benefit transfer (DBT) to farmers, with no role for fertiliser companies.

How many of the above statements are correct?

(a) Only one (b) Only two (c) Only three (d) All four (e) None

(Statement 4 is wrong; subsidies are still largely paid to fertiliser companies, NOT directly to farmers.)

Q3. With reference to the consequences of an unreformed urea subsidy, consider the following statements:

1. The wide gap between administered and market prices encourages black-marketing and diversion.
2. Over-use of urea skews the N:P:K ratio and harms soil health.
3. The subsidy is captured disproportionately by large wheat and rice farmers in certain regions.
4. The subsidy structure has had no fiscal impact on India’s budget.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the urea subsidy is a major fiscal item and has a significant impact on the budget.)

Q4. With reference to fertiliser-related policies and frameworks in India, consider the following statements:

1. The Soil Health Card Scheme provides farmers with information on their soil’s nutrient profile.
2. PM-PRANAM aims to promote alternative and balanced fertilisers and reduce chemical fertiliser dependence.
3. The Nutrient-Based Subsidy (NBS) applies to phosphorus and potassium-based fertilisers like DAP, MOP, and complexes.
4. The Strait of Hormuz, between Iran and Oman, is irrelevant to India’s fertiliser cost equation.

Which of the above are correct?

(a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

(Statement 4 is wrong; the Strait of Hormuz is highly relevant, since natural gas-based urea costs depend on oil and LNG prices, which flow through this chokepoint.)

Answer Key

1. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because the recent spike is due to a rise in petrochemical prices.
2. (c), Statements 1, 2, 3 are correct; Statement 4 is wrong because subsidies are still paid largely to fertiliser companies.
3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the urea subsidy has a major impact on the budget.
4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the Strait of Hormuz directly affects India’s fertiliser costs.

Exam Relevance

NABARD Grade A

Very high importance, agriculture, soil health, rural economy

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