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Daily Current Affairs
17 February, 2026
1. With reference to the Great Nicobar Project, consider the following statements:
- The National Green Tribunal upheld the environmental clearance granted to the project.
- The project includes an international transshipment port and greenfield airport.
- The NGT struck down the Island Coastal Regulation Zone (ICRZ) Notification, 2019.
Which of the statements given above is/are correct?
A) 1 and 2 only
B) 2 and 3 only
C) 1 and 3 only
D) 1, 2 and 3
E) 2 only
Answer: A) 1 and 2 only
Explanation: The National Green Tribunal upheld the environmental clearance for the Great Nicobar Project. The project includes a transshipment port, airport, power plant and township. However, the NGT directed compliance with the Island Coastal Regulation Zone (ICRZ) Notification, 2019 — it did not strike it down.
2. The Urban Challenge Fund requires cities to raise at least what percentage of project funding through market mechanisms such as bonds and PPPs?
A) 25%
B) 40%
C) 50%
D) 60%
E) 75%
Answer: C) 50%
Explanation: Under the Urban Challenge Fund, the Centre funds 25% of project cost, while cities must raise at least 50% via municipal bonds, loans, or PPPs. This promotes fiscal discipline and market-based urban financing.
3. The proposal to widen the banking reform committee’s mandate is primarily due to:
A) Complete privatisation of public sector banks
B) Dominance of cooperative banks
C) Diversification of financial intermediation beyond banks
D) Decline in NBFC activity
E) Merger of all financial regulators
Answer: C) Diversification of financial intermediation beyond banks
Explanation: India’s financial system is no longer purely bank-centric. Credit increasingly flows through NBFCs, fintech platforms, capital markets, insurance and pension systems. Hence, reforms must address the broader financial ecosystem.
4. The Reserve Bank of India recently amended the External Commercial Borrowing (ECB) framework by:
- Removing the all-in-cost cap.
- Allowing on-lending for real estate business.
- Expanding eligible borrowers.
Which of the statements is/are correct?
A) 1 and 3 only
B) 2 only
C) 1, 2 and 3
D) 1 only
E) 3 only
Answer: A) 1 and 3 only
Explanation: The RBI removed the all-in-cost cap and expanded eligible participants under the new ECB regime. However, on-lending for real estate business remains prohibited as a prudential safeguard.
5. “UPI One World” launched by NPCI is primarily intended for:
A) Domestic inter-bank settlements
B) Government subsidy transfers
C) Foreign visitors without Indian bank accounts
D) Cryptocurrency trading
E) International SWIFT transfers
Answer: C) Foreign visitors without Indian bank accounts
Explanation: UPI One World is a prepaid wallet facility designed for foreign visitors to enable seamless UPI-based digital payments in India without requiring an Indian bank account.
6. According to recent data, Currency in Circulation (CIC) in India has reached record levels while:
A) Cash-to-GDP ratio has increased sharply
B) Cash-to-GDP ratio has declined
C) Digital payments have stopped growing
D) ATM withdrawals have reduced significantly
E) Gold demand has collapsed
Answer: B) Cash-to-GDP ratio has declined
Explanation: Although Currency in Circulation has reached record highs, the cash-to-GDP ratio has declined, indicating that digital payments (especially UPI) are driving incremental economic growth.
7. The approval of natural gas futures by SEBI on NSE aims primarily at:
A) Fixing gas prices administratively
B) Reducing gas imports
C) Improving price discovery and hedging
D) Eliminating spot markets
E) Replacing crude oil futures
Answer: C) Improving price discovery and hedging
Explanation: Natural gas futures enable transparent price discovery and allow producers and consumers to hedge against volatility, strengthening India’s energy market framework.
8. RBI’s recent tightening of collateral rules for capital market intermediaries includes:
A) Zero collateral requirement
B) 100% secured loans with 40% haircut on equity collateral
C) Removal of margin trading norms
D) Allowing unlimited leverage
E) Eliminating bank lending to brokers
Answer: B) 100% secured loans with 40% haircut on equity collateral
Explanation: RBI mandated fully secured loans and imposed a minimum 40% haircut on shares pledged as collateral to reduce systemic risk and excessive leverage in capital markets.
9. The MahaVISTAAR platform in Maharashtra is primarily designed to:
A) Provide crop insurance payouts
B) Offer AI-based agricultural advisory services
C) Replace mandi system
D) Provide direct fertilizer subsidies
E) Facilitate export of agricultural produce
Answer: B) Offer AI-based agricultural advisory services
Explanation: MahaVISTAAR integrates research-based advisories, pest alerts, weather updates and market intelligence, acting as a digital decision-support platform for farmers.
10. Amul’s “Sarlaben” AI assistant mainly helps dairy farmers by:
A) Providing export certification
B) Managing cooperative elections
C) Offering livestock disease and feeding advice
D) Replacing milk procurement centres
E) Fixing milk prices
Answer: C) Offering livestock disease and feeding advice
Explanation: Sarlaben is an AI-powered voice assistant that provides guidance on livestock disease management, feeding practices and dairy hygiene, reducing dependence on physical veterinary consultations.
