Daily Current Affairs Quiz: 12 November 2026
1. The Union Cabinet approved how much fertiliser subsidy for the Rabi 2026–27 season?
A. ₹41,533.81 crore
B. ₹37,952 crore
C. ₹62,370.02 crore
D. ₹1.71 lakh crore
E. ₹24,417.73 crore
View Answer
Explanation: The Rabi 2026–27 allocation of ₹62,370.02 crore is about 64% higher than the ₹37,952 crore given for the previous Rabi season. Costlier urea, P&K fertilisers and natural gas in global markets pushed the figure up. Along with ₹41,533.81 crore for Kharif 2026, the two seasons together cross ₹1 lakh crore, and full-year spending could go far beyond the budget estimate of ₹1.71 lakh crore, putting pressure on the fiscal deficit.
2. Under the Nutrient-Based Subsidy (NBS) scheme, subsidy is given on which type of fertilisers?
A. Urea only
B. Non-urea fertilisers
C. Organic manures only
D. Bio-fertilisers only
E. Micronutrient sprays only
View Answer
Explanation: NBS applies to non-urea fertilisers. The government fixes a per-kilogram subsidy rate for four nutrients – Nitrogen, Phosphorus, Potash and Sulphur. The amount is paid to fertiliser companies, which in turn sell the fertilisers to farmers at lower prices. Urea is not covered under NBS.
3. Which body is the national-level nodal agency that implements the Prime Minister Employment Generation Programme (PMEGP)?
A. NABARD
B. SIDBI
C. Khadi and Village Industries Commission (KVIC)
D. National Small Industries Corporation (NSIC)
E. Coir Board
View Answer
Explanation: PMEGP is a credit-linked subsidy scheme started in August 2008 to create jobs through new micro-enterprises in the non-farm sector, in both rural and urban areas. The Ministry of MSME administers it, while KVIC implements it at the national level. In October 2026, ₹1,000 crore of margin money subsidy was released to support 11,333 new micro units. Applicants must be above 18, and Class VIII pass is needed for manufacturing projects above ₹10 lakh and service projects above ₹5 lakh.
4. The tenure of the PLI Scheme for Promoting Domestic Manufacturing of Medical Devices has been extended up to which year?
A. FY 2028–29
B. FY 2030–31
C. FY 2032–33
D. FY 2035–36
E. FY 2040–41
View Answer
Explanation: The PLI scheme for medical devices was launched in FY 2020–21. It gives financial incentives on incremental sales of medical devices and critical components made in India. Its aim is to cut imports, strengthen domestic manufacturing and support Make in India. With fresh applications invited and the tenure stretched to FY 2035–36, companies get a much longer window to plan investments.
5. The Credit Guarantee Fund for Micro Units (CGFMU), extended up to March 2031, has a corpus of how much?
A. ₹1,000 crore
B. ₹2,500 crore
C. ₹5,000 crore
D. ₹10,000 crore
E. ₹12,600 crore
View Answer
Explanation: The Cabinet extended CGFMU for five more years, till March 2031, with a corpus of ₹5,000 crore. This is expected to back about ₹12.6 lakh crore of loans under the Pradhan Mantri Mudra Yojana. Mudra loans need no collateral, so a default would otherwise mean a full loss for the lender. The guarantee covers part of that loss, which encourages banks to lend to small borrowers who have no assets to pledge. CGFMU was launched in January 2016.
6. Through which entity does CGFMU give guarantee cover to lending institutions?
A. MUDRA Ltd
B. SIDBI
C. National Credit Guarantee Trustee Company Limited (NCGTC)
D. NABARD
E. ECGC Ltd
View Answer
Explanation: CGFMU works through NCGTC, which gives guarantee cover to lenders against default risk on Mudra loans. PMMY was launched on 8 April 2015, and by September 2026 more than 60.36 crore loans worth ₹43.34 lakh crore had been given under it. MUDRA stands for Micro Units Development and Refinance Agency.
7. Under the Pradhan Mantri Mudra Yojana, what is the loan range of the Tarun Plus category added in 2024?
A. Up to ₹50,000
B. ₹50,000 to ₹5 lakh
C. ₹5 lakh to ₹10 lakh
D. ₹10 lakh to ₹20 lakh
E. ₹20 lakh to ₹50 lakh
View Answer
Explanation: Mudra loans are offered in four categories: Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), Tarun (₹5 lakh to ₹10 lakh) and Tarun Plus (₹10 lakh to ₹20 lakh). Tarun Plus was added in 2024 for entrepreneurs who have grown beyond the Tarun limit. All Mudra loans are collateral-free.
8. Under the RBI Master Directions on Cyber Resilience issued on 5 November 2026, non-bank Payment System Operators must report unusual incidents to the RBI and CERT-In within how much time of detection?
A. 2 hours
B. 4 hours
C. 6 hours
D. 12 hours
E. 24 hours
View Answer
Explanation: The RBI issued Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank PSOs. Incidents such as cyberattacks, major system failures, internal fraud and settlement delays must be reported within six hours. Large and medium PSOs must comply right away, while small PSOs have time till 1 April 2028. The aim is stronger information security and faster recovery from cyber incidents.
9. Under the consolidated RBI rules on Domestic Money Transfer, how much can a walk-in customer send per transaction through NEFT at a bank branch?
A. ₹5,000
B. ₹10,000
C. ₹25,000
D. ₹50,000
E. ₹1,00,000
View Answer
Explanation: The RBI brought its Domestic Money Transfer rules into a single set of directions without changing the limits. A walk-in customer can send up to ₹50,000 per NEFT transaction at a branch. Through business correspondents, ATMs and other approved channels, cash-in is capped at ₹5,000 per transaction and ₹25,000 per month per sender. Cash-out is limited to ₹10,000 per transaction and ₹25,000 per month per beneficiary.
10. The Risk-Based Capital (RBC) framework being developed by IRDAI will replace which existing system?
A. Factor-based solvency system
B. Embedded value system
C. Basel III capital norms
D. Expected credit loss model
E. Premium-based reserve system
View Answer
Explanation: IRDAI set up two working groups, one for life and one for non-life insurers, to build an RBC framework aligned with Indian Accounting Standards (Ind-AS). It will replace the current factor-based solvency system. Under RBC, each insurer will hold capital in line with the actual risks in its business, instead of applying fixed factors.
11. Patna Municipal Corporation, the first urban local body in Bihar to raise money through municipal bonds, issued its bonds at what annual interest rate?
A. 7.75%
B. 8.25%
C. 8.90%
D. 9.20%
E. 9.75%
View Answer
Explanation: Patna Municipal Corporation raised about ₹199.99 crore on 30 October 2026 through the NSE Electronic Bidding Platform. The bonds carry 9.20% annual interest and a 10-year tenure. The money will fund 18 projects at 15 locations in Patna, such as vending zones, parking, marriage halls and commercial infrastructure. Municipal bonds are debt securities that city bodies issue to raise funds for civic infrastructure.
12. Under the National Waterways Act, 2016, the Yamuna River is designated as which National Waterway?
A. NW-1
B. NW-2
C. NW-68
D. NW-110
E. NW-97
View Answer
Explanation: The Yamuna is National Waterway-110. On 10 November 2026, Union Minister Sarbananda Sonowal opened Delhi’s first recreational cruise on the river at Sonia Vihar. A 30-seat electric vessel runs on the Sonia Vihar–Jagatpur stretch, about 6 km round trip. The project is led by the Inland Waterways Authority of India under the Ministry of Ports, Shipping and Waterways, with Delhi government agencies.
13. According to the UNESCO Global Education Monitoring (GEM) Report 2026, what is the upper secondary Gender Parity Index (GPI) for rural India?
A. 0.59
B. 0.89
C. 1.00
D. 1.08
E. 0.75
View Answer
Explanation: Rural India has a GPI of 0.59 at upper secondary level, meaning only 59 girls complete it for every 100 boys. The national figure is 0.89 and urban India is at parity (1.00). Distance to school, safety worries and household duties are the main barriers. In contrast, women now lead in higher education with a GER of 31.2% against 28.9% for men (GPI 1.08). The GEM Report tracks progress on SDG 4.
14. The Ministry of Defence signed a ₹498.58 crore contract with which shipyard for the refit and re-powering of INS Betwa?
A. Mazagon Dock Shipbuilders Limited
B. Garden Reach Shipbuilders & Engineers
C. Goa Shipyard Limited
D. Cochin Shipyard Limited
E. Hindustan Shipyard Limited
View Answer
Explanation: INS Betwa is a Brahmaputra-class guided-missile frigate of the Indian Navy. Under the contract with Cochin Shipyard Limited, its old steam-based propulsion will be replaced with a diesel engine-based system. The ship will also get an upgraded weapon suite to improve combat capability and operational effectiveness.
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