Daily Quiz — 24 Apr 2026

1. Q1.According to RBI Deputy Governor Poonam Gupta, what is the RBI's stance on transient inflation shocks, and what is her outlook for FY26?

   The RBI looks through transient inflation shocks and expects positive surprises to offset negative shocks in FY26The RBI immediately acts on all inflation shocks and forecasts a slowdown in FY26The RBI tightens policy on transient shocks and expects FY26 growth to remain flatThe RBI looks through transient shocks but has identified significant second-round inflation effects in FY26
   Explanation: Poonam Gupta stated that the RBI looks through transient inflation shocks, citing no evidence of second-round effects, and expressed measured optimism that positive surprises would offset front-loaded negative shocks in FY26.

2. Q2.Under the SAARC Currency Swap Framework, what was the value of the rupee swap India approved for the Maldives, and what dollar-denominated facility did the Maldives simultaneously settle?

   ₹30 billion rupee swap; $400 million dollar swap₹40 billion rupee swap; $300 million dollar swap₹30 billion rupee swap; $500 million dollar swap₹20 billion rupee swap; $400 million dollar swap
   Explanation: India approved a ₹30 billion rupee swap for the Maldives on the same day the Maldives settled a $400 million dollar swap facility that had been taken in October 2024, with the new facility intended to support economic stability.

3. Q3.What penalty did the RBI impose on Dr. Babasaheb Ambedkar Nagari Sahakari Bank, Aurangabad, and what were the primary reasons cited?

   ₹80,000 for breaching exposure norms and offering deposit rates above SBI levels₹1,00,000 for KYC violations and lending to restricted entities₹80,000 for non-compliance with priority sector lending norms₹50,000 for exceeding deposit rate caps and under-reporting NPAs
   Explanation: The RBI penalised the bank ₹80,000 for breaching exposure norms and offering deposit rates above SBI levels under the Supervisory Action Framework, based on a statutory inspection of the bank's financial position as of March 31, 2025.

4. Q4.What returns have early investors in Sovereign Gold Bonds (SGBs) been receiving during the April 2026 wave of premature redemptions, and why is the government unlikely to issue fresh SGBs in FY27?

   Returns exceeding 200%; scheme discontinued due to high borrowing costs for the governmentReturns exceeding 150%; scheme discontinued due to low investor demandReturns exceeding 200%; scheme paused due to RBI regulatory changes on gold-linked instrumentsReturns exceeding 300%; scheme discontinued as gold imports exceeded RBI thresholds
   Explanation: Early SGB investors are receiving returns exceeding 200% as redemption prices have tripled original issue prices. The government is unlikely to issue fresh SGBs in FY27 because the scheme was discontinued since 2024 due to high borrowing costs it imposed on the government.

5. Q5.What is the structure of PlaySimple Games' proposed ₹3,150-crore IPO filed with SEBI, and who is the promoter selling shares?

   Entirely an offer-for-sale by its promoter, Sweden's Modern Times GroupA combination of fresh issue and offer-for-sale by its promoter, Modern Times GroupEntirely a fresh issue of shares to fund expansion into new gaming marketsEntirely an offer-for-sale by its co-founders and early venture capital investors
   Explanation: The IPO is entirely an offer-for-sale with no fresh issue component, meaning all proceeds go to the selling promoter, Sweden's Modern Times Group, which is the parent company of the Bengaluru-based PlaySimple Games.

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