Daily Quiz — 04 Sep 2026

1. Q1.According to the article on GIFT IFSC, what is the disbursement amount out of the total FCNR-B deposits raised under RBI's special swap facility?

   $52.82 billion out of $127 billion$90 billion out of $127 billion$127 billion out of $200 billion$74.18 billion out of $127 billion
   Explanation: The article clearly states that GIFT IFSC Banking Units have disbursed $52.82 billion out of the $127 billion in FCNR-B deposits raised under RBI's special swap facility, demonstrating utilization of approximately 41.6% of total deposits.

2. Q2.The RBI Deputy Governor Murmu identified four key priorities for NBFC resilience. Which of the following is NOT explicitly mentioned as one of these pillars?

   Liquidity managementAsset qualityDigital transformationEquity capital adequacy
   Explanation: The article lists liquidity management, asset quality, governance, and digital transformation as the four pillars for NBFC resilience. Equity capital adequacy, while important, is not explicitly mentioned as one of the five pillars discussed.

3. Q3.India's Q1 GDP growth surpassed RBI's estimate following a significant methodological change in the national accounts series. What was the new base year adopted?

   2015-162022-232020-212011-12
   Explanation: The article states that India's Q1 GDP growth came in at 7.8 per cent following a base year revision from 2011-12 to 2022-23 in the national accounts series, representing the most recent statistical base year update.

4. Q4.According to the IBC article, what is the primary concern regarding the effectiveness of the Insolvency and Bankruptcy Code, based on resolution timelines and creditor recoveries?

   Rising number of admissions exceeding 1,000 quarterlyExcessive resolution times averaging 757 days with only 31% creditor recoveryLack of bank participation in resolution processesIncreasing rejection rates by adjudicating authorities
   Explanation: While fresh corporate stress is stable with 177 CIRPs admitted in Q1 FY27, IBC effectiveness is undermined by an average resolution time of 757 days and creditor recoveries of only 31% of admitted claims, implying a haircut of nearly 70%. This represents a significant structural challenge in the insolvency framework.

5. Q5.India blocked Alipay+'s proposal to link with UPI citing specific concerns. Which country's origins raised data-security risks according to the decision?

   SingaporeJapanChinaHong Kong
   Explanation: The article explicitly states that India stalled Alipay+'s January proposal to link with UPI, citing data-security risks and concerns over potential misuse of customer data given the platform's Chinese origins, despite improving India-China diplomatic relations.

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