Daily Quiz — 24 Jul 2026

1. Q1.According to the Parliamentary Standing Committee on Finance's endorsement, what is the new proposed size of the Sebi board, and what is the maximum timeline for investigation as per the Securities Markets Code amendments?

   15 members; one year investigation timeline12 members; six months investigation timeline15 members; six months investigation timeline18 members; one year investigation timeline
   Explanation: The article explicitly states that the Parliamentary Standing Committee endorsed expanding Sebi's board from 9 to 15 members and proposed extending investigation timelines to one year.

2. Q2.What was the quarter-on-quarter decline in fire premiums that prompted IRDAI to issue a warning about reckless discounting practices?

   From ₹11,206 crore to ₹8,087 croreFrom ₹12,000 crore to ₹9,500 croreFrom ₹10,500 crore to ₹7,200 croreFrom ₹13,000 crore to ₹8,500 crore
   Explanation: The IRDAI article specifically reports that fire premiums dropped from ₹11,206 crore to ₹8,087 crore in Q1 of the current financial year, representing a significant quarter-on-quarter decline that triggered the regulatory warning.

3. Q3.According to the CBI raid report, which two entities' government funds were allegedly siphoned from the IDFC First Bank fraud totaling ₹504 crore?

   Municipal Corporation Chandigarh and Chandigarh Smart City LimitedChandigarh Municipal Authority and Punjab Smart City LimitedMunicipal Corporation Ludhiana and Chandigarh Development AuthorityGovernment of Punjab and Chandigarh Urban Development Authority
   Explanation: The article states that government funds belonging to Municipal Corporation Chandigarh and Chandigarh Smart City Limited were allegedly siphoned through forged fixed deposits in the fraud case.

4. Q4.What primary concern have fintech firms raised against NPCI's proposed 'default app' or UPI Meta framework?

   It could stifle competition and innovationIt would increase transaction fees for usersIt would mandate bank partnerships onlyIt would eliminate third-party payment providers entirely
   Explanation: The article explicitly states that fintechs warn the framework could stifle competition and innovation, arguing it restructures UPI architecture without addressing a proven customer problem.

5. Q5.By what percentage did Suryoday Small Finance Bank's gross non-performing assets decline year-on-year in Q1 FY27, and what was the revised figure?

   Declined to 6.60% from 8.46%Declined to 5.80% from 7.25%Declined to 7.10% from 9.15%Declined to 6.20% from 8.90%
   Explanation: The article reports that Suryoday's gross NPAs fell to 6.60% from 8.46% a year earlier, representing a decline from the prior year figure of 8.46% to the current 6.60%.

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