1. The India–USA Trade Deal 2026 is chiefly meant to do what?
Answer: D. The pact is about ending trade friction and restoring market access, while moving India's energy purchases from Russian oil toward the US and other suppliers.
2. One sector is explicitly kept out of tariff liberalisation in the India–USA Trade Deal 2026. Which is it?
Answer: C. Dairy and staple farm crops are treated as sensitive and left out, so that domestic farmers and food security stay protected.
3. Under which colonial-era law were Denotified Tribes first classified?
Answer: A. These communities were labelled 'criminal tribes' by the 1871 Act, a law that was only repealed in 1952.
4. What is the SabhaSaar Initiative mainly intended to do?
Answer: B. SabhaSaar is an AI voice-to-text tool that turns Gram Sabha recordings into structured Minutes of Meetings without manual effort.
5. What does the Frontier Nagaland Territorial Authority (FNTA) stand for?
Answer: E. FNTA is a self-governing set-up within Nagaland that gets more administrative and financial freedom without carving out a separate State.
6. In financial markets, what role does the Settlement Guarantee Fund (SGF) play?
Answer: B. Clearing corporations keep this fund as a cushion so that trades still complete even when one of their members fails to pay.
7. Why has SEBI suggested lowering the Z-score used in commodity derivatives stress tests from 10 to 5?
Answer: C. A Z-score of 10 covers exceptionally rare events and can produce overly cautious, capital-heavy risk rules, according to SEBI.
8. SEBI's idea of letting InvITs keep SPVs after a concession ends mainly tackles which problem?
Answer: A. Once a concession lapses, the assets go back to the government and the SPV falls briefly out of compliance; the proposal spares InvITs a forced sale in that interval.
9. What does the 'Fit and Proper' framework in SEBI regulations chiefly assess?
Answer: E. It checks whether intermediaries and their managers meet the bar on integrity, competence, reputation and financial soundness.
10. What does compounding of offences mean under FEMA?
Answer: D. Under compounding, an entity admits the violation, pays a monetary amount and gets the case closed without drawn-out litigation.
11. Under the India-US trade deal of February 2026, US tariffs on Indian goods were reduced from a peak of 50% to what level?
Answer: D. The notes say tariffs dropped from 50% to 18%.
12. Under which colonial law were communities later called Denotified Tribes branded as 'criminal tribes'?
Answer: B. The notes say the Criminal Tribes Act, 1871 branded them, and it was repealed in 1952.
13. SabhaSaar, the AI platform for Gram Sabha meeting summaries, falls under which ministry?
Answer: B. The nodal ministry for SabhaSaar is Panchayati Raj.
14. Which body is the nodal agency for India's first national DVI guidelines?
Answer: A. NDMA issued the guidelines as the nodal agency.
15. Which module was the first to be launched for the International Space Station?
Answer: B. Construction began with the Russian Zarya module on 20 November 1998.