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Daily Current Affairs
06 May, 2026
1. With reference to ECLGS 5.0, which of the following statements is correct?
A) It was first launched during the 2008 financial crisis
B) It provides 100% guarantee coverage for all sectors
C) It is the first version triggered by a geopolitical crisis
D) It is implemented by SIDBI
E) It is applicable only to MSMEs
Answer: C) It is the first version triggered by a geopolitical crisis
Explanation: ECLGS was initially launched in 2020 due to COVID-19. The 5.0 version (2026) is the first triggered by a geopolitical crisis, not a pandemic.
2. Which of the following correctly describes the guarantee coverage under ECLGS 5.0?
A) 100% for all borrowers
B) 90% for MSMEs and 100% for airlines
C) 100% for MSMEs and 90% for non-MSMEs and airlines
D) 80% for MSMEs and 100% for airlines
E) 50% for all sectors
Answer: C) 100% for MSMEs and 90% for non-MSMEs and airlines
Explanation: MSMEs get full guarantee coverage, while non-MSMEs and airlines receive 90% coverage under ECLGS 5.0.
3. With reference to Project 17A, consider the following: 1. It involves Nilgiri-class stealth frigates 2. It has 100% indigenisation 3. INS Mahendragiri is part of this project Which are correct?
A) 1 only
B) 1 and 3 only
C) 2 and 3 only
D) 1, 2 and 3
E) None
Answer: B) 1 and 3 only
Explanation: Project 17A involves Nilgiri-class frigates and includes INS Mahendragiri. Indigenisation is about 75%, not 100%.
4. Project Deepak is associated with which of the following?
A) Space research
B) Coastal security
C) Border infrastructure development in Himachal Pradesh
D) Nuclear power generation
E) Cyber security
Answer: C) Border infrastructure development in Himachal Pradesh
Explanation: Project Deepak is a BRO initiative focusing on strategic road construction in Himachal Pradesh.
5. The Border Roads Organisation (BRO) was established in which year?
A) 1947
B) 1955
C) 1960
D) 1962
E) 1971
Answer: C) 1960
Explanation: BRO was established on May 7, 1960, to build infrastructure in border areas.
6. What is the primary function of the UDGAM Portal?
A) Loan disbursement
B) Tax collection
C) Identification of unclaimed deposits
D) Investment advisory
E) Digital payments processing
Answer: C) Identification of unclaimed deposits
Explanation: UDGAM helps users locate unclaimed deposits across multiple banks but does not process claims.
7. After how many years are unclaimed deposits transferred to the DEAF fund?
A) 2 years
B) 5 years
C) 7 years
D) 10 years
E) 15 years
Answer: D) 10 years
Explanation: Funds become unclaimed after 10 years and are transferred to the DEAF corpus maintained by RBI.
8. With reference to RBI’s SNFA framework, what is the maximum holding period for acquired assets?
A) 3 years
B) 5 years
C) 7 years
D) 10 years
E) No limit
Answer: C) 7 years
Explanation: RBI limits holding of such assets to 7 years to prevent banks from becoming real estate holders.
9. Which of the following correctly defines OBPPs?
A) Government bond issuing agencies
B) Platforms for forex trading
C) SEBI-registered debt market intermediaries
D) Insurance brokers
E) Mutual fund distributors
Answer: C) SEBI-registered debt market intermediaries
Explanation: OBPPs are SEBI-registered platforms that allow retail investors to buy and sell bonds digitally.
10. Under the Liberalised Remittance Scheme (LRS), what is the current annual limit for individuals?
A) USD 50,000
B) USD 100,000
C) USD 150,000
D) USD 250,000
E) USD 500,000
Answer: D) USD 250,000
Explanation: RBI allows individuals to remit up to USD 250,000 per financial year under LRS.
