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Subject
Month
9 questions
- Economy & Banking25 Apr 2026
Rajasthan's oil and gas reserves are concentrated in which basin?
- A.Cambay basin
- B.Krishna-Godavari basin
- C.Barmer-Sanchore basin
- D.Cauvery basin
Show solution
Answer: C. Barmer-Sanchore basin
Rajasthan's oil and gas reserves are concentrated in the Barmer-Sanchore basin in western Rajasthan (Barmer and Jalore districts). It is one of India's largest inland hydrocarbon discoveries (made in the 2000s), with approximately 38 discovered oil fields and ~150 million barrels of proven crude oil reserves. Cambay basin is in Gujarat; Krishna-Godavari basin is offshore Andhra Pradesh; Cauvery basin is in Tamil Nadu.
Read source story → - Economy & Banking25 Apr 2026
India's largest onshore oil field — part of the MBA cluster in the Barmer-Sanchore basin — is:
- A.Bhagyam
- B.Aishwariya
- C.Mangala
- D.Saraswati
Show solution
Answer: C. Mangala
Mangala is India's largest onshore oil field, part of the Mangala-Bhagyam-Aishwariya (MBA) cluster in the Barmer-Sanchore basin of Rajasthan. Peak production reached around 200,000 barrels per day. Bhagyam and Aishwariya are major supporting fields in the same cluster.
Read source story → - Economy & Banking25 Apr 2026
Special Drawing Rights (SDRs) — one component of India's forex reserves — were created by which institution and in which year?
- A.World Bank, 1944
- B.International Monetary Fund (IMF), 1969
- C.Bank for International Settlements (BIS), 1973
- D.World Trade Organisation, 1995
Show solution
Answer: B. International Monetary Fund (IMF), 1969
Special Drawing Rights (SDRs) were created by the International Monetary Fund (IMF) in 1969 as a supplementary international reserve asset. SDR value is determined daily based on a basket of five major currencies — US dollar, euro, Chinese renminbi, Japanese yen, and British pound. India received around $17.86 billion in SDR allocation in August 2021.
Read source story → - Economy & Banking25 Apr 2026
What is the maximum deposit limit per individual customer in a payments bank in India (as raised in April 2021)?
- A.₹50,000
- B.₹1 lakh
- C.₹2 lakh
- D.₹5 lakh
Show solution
Answer: C. ₹2 lakh
The maximum deposit limit per individual customer in a payments bank was raised from ₹1 lakh to ₹2 lakh in April 2021. Payments banks cannot offer credit/loans — a key restriction that distinguishes them from commercial banks and small finance banks.
Read source story → - Economy & Banking25 Apr 2026
The largest component of India's foreign exchange reserves is:
- A.Gold reserves
- B.Special Drawing Rights (SDRs)
- C.Reserve position in the IMF
- D.Foreign Currency Assets (FCA)
Show solution
Answer: D. Foreign Currency Assets (FCA)
Foreign Currency Assets (FCA) is the largest component of India's forex reserves — typically around 80% of total reserves. FCA includes foreign currencies, deposits with foreign central banks and the Bank for International Settlements (BIS), and foreign government securities (mainly US Treasuries). For week ended 17 April 2026, FCA stood at $557.46 billion.
Read source story → - Economy & Banking25 Apr 2026
India's Ethanol Blending Programme (EBP) targets achieving E20 (20% ethanol blending in petrol) by:
- A.2023-24
- B.2025-26
- C.2027-28
- D.2030
Show solution
Answer: B. 2025-26
India's target for E20 (20% ethanol blending) is 2025-26 — advanced from the original 2030 target. India achieved E10 (10% blending) in mid-2022, well ahead of schedule. The Programme is administered by the Ministry of Petroleum and Natural Gas through Oil Marketing Companies (IOC, BPCL, HPCL).
Read source story → - Economy & Banking25 Apr 2026
Payments Banks in India were introduced based on the recommendations of which committee?
- A.P.J. Nayak Committee
- B.Nachiket Mor Committee (2014)
- C.Bimal Jalan Committee
- D.Urjit Patel Committee
Show solution
Answer: B. Nachiket Mor Committee (2014)
Payments Banks were introduced based on the recommendations of the Nachiket Mor Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (report submitted January 2014). RBI issued payments-bank guidelines in November 2014 and granted in-principle approvals to 11 entities in August 2015.
Read source story → - Economy & Banking25 Apr 2026
India's foreign exchange reserves stood at what level for the week ended 17 April 2026?
- A.$652.31 billion
- B.$700.946 billion
- C.$703.31 billion
- D.$728.494 billion
Show solution
Answer: C. $703.31 billion
India's forex reserves rose by $2.36 billion to $703.31 billion for the week ended 17 April 2026, according to RBI data. $700.946 billion was the previous week's level (10 April), and $728.494 billion was the all-time high reached in February 2026.
Read source story → - Economy & Banking25 Apr 2026
Which country has recently overtaken India as the leading exporter of corn (maize) to Bangladesh?
- A.United States
- B.Argentina
- C.Brazil
- D.Ukraine
Show solution
Answer: C. Brazil
Brazil has overtaken India as the leading exporter of corn (maize) to Bangladesh. For years India had held the dominant position thanks to competitive pricing and geographical proximity, but since 2024 rising domestic demand — especially for ethanol production under India's Ethanol Blending Programme — has reduced India's export capacity. Brazil capitalised with large-scale production, efficient supply chains, and consistent supply volumes.
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