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3 questions

  • Economy & Banking16 May 2026

    Which of the following best explains how the BMI Pool reduces India's forex outflow?

    1. A.By retaining marine reinsurance premiums domestically that would otherwise flow to London and other foreign re/insurance markets
    2. B.By directly buying foreign currency from the RBI's reserves at concessional rates
    3. C.By imposing capital controls on Indian shipowners' foreign payments
    4. D.By replacing all FDI in India's shipping sector
    Show solution

    Answer: A. By retaining marine reinsurance premiums domestically that would otherwise flow to London and other foreign re/insurance markets

    The Pool **retains domestically** a larger share of marine reinsurance premiums and claims flows that would otherwise be ceded to **London and other foreign re/insurance hubs**, reducing **forex outflow**. The other options describe instruments — capital controls, RBI FX sales, FDI — that are not how a reinsurance pool functions.

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  • Economy & Banking16 May 2026

    The Bharat Maritime Insurance Pool (BMI Pool) is administered as Pool Administrator by which entity?

    1. A.General Insurance Corporation of India (GIC Re), the country's state-owned reinsurer
    2. B.Life Insurance Corporation of India (LIC), the largest Indian life-insurance company
    3. C.Reserve Bank of India (RBI), the central banking authority of the Government of India
    4. D.Shipping Corporation of India (SCI), a navratna shipping company under the central government
    Show solution

    Answer: A. General Insurance Corporation of India (GIC Re), the country's state-owned reinsurer

    The **Pool Administrator** of the BMI Pool is **GIC Re**, India's state-owned national reinsurer. **LIC** is a life insurer, **RBI** is the central bank, and **SCI** is a shipping operator — none of them administer the Pool.

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  • Economy & Banking27 Apr 2026

    Which agency — established in 2019 — is the tri-service organisation coordinating India's military space activities?

    1. A.Defence Research and Development Organisation (DRDO)
    2. B.Defence Space Agency (DSA)
    3. C.Indian Space Research Organisation (ISRO)
    4. D.IN-SPACe
    Show solution

    Answer: B. Defence Space Agency (DSA)

    Defence Space Agency (DSA) is the tri-service organisation established in 2019 with HQ in Bengaluru to coordinate India's military space activities. It is supported by Defence Space Research Organisation (DSRO). Mission Shakti — India's anti-satellite (ASAT) test in March 2019 — demonstrated kinetic ASAT capability, making India the fourth country to have it after USA, Russia, and China.

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