Daily Quiz — 21 Jul 2026

1. Q1.What is the reported number of users for India's Unified Payments Interface (UPI) as of June 2026?

   55.49 crore45.12 crore60.78 crore50.00 crore
   Explanation: As of June 2026, UPI has onboarded approximately 55.49 crore users, marking significant growth in digital payments in India.

2. Q2.According to recent reports, why are Indian banks lagging behind their FCNR(B) deposit targets?

   Ineffective marketing strategiesClarification of operational details by the RBIIncreased competition from fintechRise in domestic interest rates
   Explanation: The delay in meeting FCNR(B) deposit targets is attributed to slow ground-level activity which only began after the operational details were clarified by the RBI.

3. Q3.What key decision did the National Company Law Appellate Tribunal (NCLAT) recently make regarding insolvency resolution costs?

   They can be treated as CIRP costsThey must be settled under a waterfall mechanismThey are prioritized over secured debtsThey are deemed irrelevant in insolvency
   Explanation: The NCLAT ruled that employee gratuity and leave encashment dues should be settled under the approved resolution plan's waterfall mechanism, excluding them from CIRP costs.

4. Q4.Which two firms have received approval from SEBI for their IPOs as reported in the latest news?

   Tata Motors and Mahindra & MahindraAbsolute Projects and Jindal SupremeAdani Enterprises and Reliance IndustriesInfosys and Wipro
   Explanation: Absolute Projects (India) Ltd and Jindal Supreme (India) Ltd have recently been approved by SEBI for their initial public offerings.

5. Q5.What was the net profit increase percentage for Karur Vysya Bank in Q1 FY27 compared to the previous year?

   30%45%15%50%
   Explanation: Karur Vysya Bank reported a significant year-on-year increase of 45% in net profit for Q1 FY27, demonstrating robust performance.

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