Daily Quiz — 19 Jul 2026

1. Q1.According to the article on Digital Land Records and Unified Lending Interface, what is the primary objective of linking authenticated digital land records with the ULI?

   To reduce loan processing costs and time for farm credit deliveryTo increase the interest rates on agricultural loansTo eliminate the need for collateral in farm creditTo create a new regulatory framework for land ownership
   Explanation: The article explicitly states that the collaboration between the Department of Land Resources and RBI Innovation Hub aims to reduce loan processing costs and time, with a specific focus on digitalizing Kisan Credit Card disbursals for farmers and rural borrowers.

2. Q2.What was the year-on-year non-food credit growth rate that Indian banks entered FY27 with, according to the article on credit growth?

   18.6%15.0%12.3%21.5%
   Explanation: The article on Indian Banks Enter FY27 explicitly states that banks entered with 'the strongest non-food credit growth in over a decade at 18.6% year-on-year,' supported by broad-based loan demand.

3. Q3.Which tax avoidance mechanism does the amended India-Sri Lanka Double Taxation Avoidance Agreement specifically target through the Principal Purpose Test?

   Treaty shopping and artificial tax-avoidance structuresTransfer pricing between subsidiariesDividend withholding tax reductionsCorporate income tax rate harmonization
   Explanation: The article states that the Principal Purpose Test was added to block 'treaty shopping and artificial tax-avoidance structures,' aligning the treaty with global Base Erosion and Profit Shifting (BEPS) standards. Treaty shopping refers to using tax treaties to obtain unintended benefits.

4. Q4.According to the article on UPI Merchant Fee risks, which merchants would bear the greatest burden if a Merchant Discount Rate (MDR) is introduced on UPI transactions?

   Small merchants and kirana storesLarge multinational e-commerce platformsPublic sector banksPayment gateway operators
   Explanation: The article explicitly states that 'small merchants and kirana stores' would bear the greatest burden from introducing an MDR on UPI, as the added cost would raise their operating expenses disproportionately.

5. Q5.Based on the article on Fed rate expectations, what is GoalFi founder Robin Arya's assessment of the direction of US Federal Reserve rate risk for 2026?

   The risk tilts toward a hike rather than a cut due to elevated inflationThe risk tilts toward multiple rate cuts to stimulate growthRates are expected to remain unchanged throughout 2026The Fed will adopt negative interest rates to combat deflation
   Explanation: The article states that while Arya expects the Fed to hold steady at its July 29 meeting, 'the risk for 2026 tilts toward a hike rather than a cut,' given US inflation at 3.8% remains elevated above the 2% target, making rate increases more likely than reductions.

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