1. In Government securities auctions, the Minimum Underwriting Commitment (MUC) is borne by which entities?
Answer: B. Under RBI's 2007 underwriting scheme, each Primary Dealer must underwrite a fixed minimum share (MUC) of every dated security issue.
2. Which statement about the Foreign Exchange Risk Reserve (FERR) is correct as per RBI's FAQs of October 2026?
Answer: D. The FAQs state FERR earns no interest, is not fungible with CRR, is not HQLA and excludes pre-existing contracts.
3. Of the eight use cases identified by IRDAI for the Public Insurance Registry, how many need Account Aggregator participation?
Answer: D. Ajay Seth said six of the eight identified PIR use cases require the Account Aggregator ecosystem.
4. What were India's gross direct tax collections in FY 2026-27 up to 14 October 2026?
Answer: C. Gross collections were ₹16,03,066.12 crore, 14.89% higher; net collections after refunds were ₹13,37,866.98 crore.
5. Who called India's GDP base revision a 'welcome development' at the release of the IMF's Asia-Pacific REO in October 2026?
Answer: D. Krishna Srinivasan, Director of the IMF Asia and Pacific Department, welcomed India's revised GDP series.
6. What was the UAE's share of India's oil import volume in August 2026?
Answer: B. The UAE supplied 33 lakh tonnes, or 17.4% of volume (16.9% of the import bill).
7. Which SARAS Mela 2026 pavilion focused on networking SHGs with corporate buyers and government departments?
Answer: E. The Samanvay Pavilion was set up for networking with corporate buyers and government departments.
8. When will the final electoral rolls under the SSR announced in October 2026 be published?
Answer: D. Final rolls are due on 4 January 2027 after claims are disposed of by 28 December 2026.
9. Under Article 75(3), to which body is the Union Council of Ministers collectively responsible?
Answer: C. Article 75(3) makes the Council of Ministers collectively responsible to the Lok Sabha.
10. Which Articles does ADR say Section 16 of the CEC Act, 2023 violates?
Answer: B. ADR argues the lifelong immunity breaches Article 14 (equality) and Article 21 (life and liberty).
11. The SCO Council of Heads of Government meeting in Dushanbe in October 2026 is which edition of the council?
Answer: D. China's Foreign Ministry described it as the 25th meeting of the Council of Heads of Government (Prime Ministers).
12. Marco Rubio's earlier 2026 India visit, in May, was for which meeting held in New Delhi?
Answer: B. Rubio attended the Quad Foreign Ministers' meeting hosted by S Jaishankar in New Delhi in May 2026.
13. Where is the headquarters of the Food and Agriculture Organization (FAO)?
Answer: B. The FAO, whose founding is marked by World Food Day, has its headquarters in Rome, Italy.
14. Sukhna Wetland, designated a Ramsar site in October 2026, was assigned which Ramsar site number?
Answer: C. The Ramsar Secretariat listed Sukhna Wetland as Site No. 2602, Chandigarh's first Ramsar site.
15. What is the meaning of the motto of the Indian Navy's Multi-Purpose Vessel Samarthak?
Answer: C. Samarthak's motto 'Vijayartham Eknishthata' translates to 'Victory Is Our Sole Aim'; its crest shows an elephant rising from the waves.