1. Pick the statement that accurately describes Cyclone Shakthi, which developed in October 2025.
Answer: E. The system grew out of a low-pressure area over the northeast Arabian Sea in early October 2025 and was expected to strengthen into a severe cyclonic storm moving west-southwestwards. Its name came from the WMO naming scheme.
2. Project Snow Leopard in Himachal Pradesh counted how many snow leopards in the state's 2025 forest department report?
Answer: C. The tally rose to 83 in 2025 from 51 in 2021. The animal is rated Vulnerable by IUCN and enjoys Schedule I protection under the Wildlife Protection Act, 1972.
3. External Commercial Borrowings are loans that Indian entities obtain from which type of lender?
Answer: A. ECBs are foreign-currency or rupee loans taken by Indian borrowers from recognised lenders abroad. The RBI governs them under FEMA, 1999, through either an automatic or an approval route.
4. Which claim about Basic Savings Bank Deposit accounts is wrong?
Answer: B. These accounts need no minimum balance because they exist to promote financial inclusion. Deposits and digital transactions are unlimited, but a customer can have only one.
5. Upper Layer NBFCs must get listed within how many years of being placed in that layer under Scale-Based Regulation?
Answer: D. RBI's scale-based framework gives an NBFC identified as Upper Layer a three-year window to list, which is meant to improve governance and market discipline.
6. What does RBI's 2025 draft framework on ECBs propose?
Answer: B. The draft overhaul would link limits to net worth (up to $1 billion or 300% of net worth), drop cost caps, and widen the pool of eligible borrowers and lenders to draw in more foreign capital.
7. A Multi-Asset Allocation Fund has to put money in a minimum of how many asset classes?
Answer: A. SEBI requires such funds to hold at least three classes, such as equity, debt and commodities like gold or silver, with a minimum of 10% in each to keep the portfolio diversified.
8. What does Kiwi's new EMI-on-UPI feature let users do?
Answer: D. Kiwi introduced the first EMI facility on UPI in India. Users can split a UPI payment into instalments and get back cashback equal to the interest, which lowers the real borrowing cost.
9. From what date will RBI's unified rules on lending to related parties by banks apply?
Answer: E. The consolidated framework takes effect on April 1, 2026. It widens who counts as a related party and tightens board oversight, governance and transparency in such lending.
10. RBI has newly recognised the Finance Industry Development Council as what for NBFCs?
Answer: C. FIDC, which was set up in 2004, now has RBI's recognition as the official self-regulatory body for NBFCs, aimed at better compliance, ethical conduct and coordination with the central bank.
11. Cyclone Shakthi in October 2025 formed over which water body?
Answer: B. It developed over the northeast Arabian Sea, about 340 km west of Dwarka.
12. How many snow leopards did Himachal Pradesh record in its 2025 survey?
Answer: C. The 2025 survey recorded 83, up from 51 in 2021.
13. Which ECB track covers Indian rupee-denominated borrowing, including Masala Bonds?
Answer: C. Track III is the rupee-denominated track.
14. Within how many days must a BSBD holder close any other savings account, as per the RBI draft?
Answer: D. The other savings account must be closed within 30 days.
15. Under RBI's Scale-Based Regulation, which layer is meant for a possible future category with the highest regulatory intensity?
Answer: D. The Top Layer is reserved for extreme risk concentration and carries very high intensity.