Daily Quiz — 15 Aug 2026

1. Q1.According to the parliamentary standing committee on finance, what percentage of India's actual UPI operating costs is covered by the government's ₹2,000 crore UPI incentive?

   11%25%18%33%
   Explanation: The article explicitly states that the government's ₹2,000 crore UPI incentive covers just 11% of the industry's actual operating costs, which are estimated at ₹20,700 crore.

2. Q2.What is the primary objective of the central government's scaled-up CBDC food coupons program under the Pradhan Mantri Garib Kalyan Anna Yojana?

   To increase the speed of food grain delivery to beneficiariesTo plug leakages and prevent diversion of subsidised foodgrains through programmable tokensTo reduce the cost of food grain procurement for the governmentTo eliminate the need for state governments in welfare distribution
   Explanation: The CBDC food coupons are programmable, commodity-specific digital tokens designed to plug leakages and prevent diversion of subsidised foodgrains, replacing cash direct benefit transfers and electronic point-of-sale machine-based distribution.

3. Q3.Which non-bank entity has alleged nexus with Equitas Small Finance Bank's MD & CEO, according to the RBI's recent scrutiny?

   Unico Housing FinanceSvatantra MicrofinAdvent InternationalMultiples Alternate Asset Management
   Explanation: The RBI questioned Equitas Small Finance Bank's board over an alleged nexus between the bank and Unico Housing Finance, a non-bank entity linked to MD & CEO PN Vasudevan's daughter.

4. Q4.According to the CAG report, how many Income Tax assessment cases resulted in under-assessment or under-charge of ₹23,769 crore?

   589 cases1,728 cases1,902 cases2,317 cases
   Explanation: The CAG flagged 1,902 total assessment lapses with ₹25,085 crore in tax effect, of which 1,728 cases resulted in under-assessment or under-charge of ₹23,769 crore, largely linked to post-demonetisation scrutiny under Operation Clean Money.

5. Q5.What is the key concern raised by SEBI regarding small-cap mutual fund inflows in July 2026, as highlighted by the record ₹7,768 crore monthly inflow?

   Small-cap funds are becoming too concentrated in a single sectorRetail investors are chasing recent outperformance amid inflated valuations, similar to 2024 warningsForeign institutional investors are withdrawing from large-cap stocksBanks are restricting credit to small-cap companies
   Explanation: The article notes that record small-cap inflows coincide with large-cap funds posting their first outflow in 30 months, raising concerns that retail investors are chasing recent outperformance, mirroring conditions that prompted SEBI's 2024 warning about valuation concerns.

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