Daily Current Affairs Quiz Prelims Practice 2027
- Remittances are recorded under the Financial Account of India's Balance of Payments.
- India has been the world's largest recipient of remittances since 2008.
- Under the Liberalized Remittance Scheme (LRS), an Indian resident can remit up to USD 250,000 per financial year.
- The United States has recently overtaken the UAE as the largest source of remittances to India.
Statement 1 is incorrect — remittances appear under the Current Account (Net Secondary Income, as private transfers), not the Financial Account, which records FDI, FPI, and ECBs. Statement 2 is correct — per World Bank data India has topped global remittance receipts since 2008, receiving ~$135 billion in 2024–25. Statement 3 is correct — LRS under FEMA 1999 permits Indian residents to remit up to USD 250,000 per financial year for permissible current and capital account transactions. Statement 4 is correct — the RBI Remittance Survey 2025 shows the US share rising to 27.7%, overtaking the UAE (19.2%), with advanced economies now contributing over 50% of total inflows.
| List I — Term | List II — Description |
|---|---|
| A. Blue Bond | 1. First sovereign issuance in 2018 |
| B. Seychelles | 2. Ocean and marine ecosystem focused bond |
| C. Sagarmala Finance Corporation | 3. India's first Blue Bond issuer |
| D. Green Bond | 4. Broader climate and environmental projects |
A-2 is correct — a Blue Bond is a debt instrument specifically for sustainable ocean, marine, coastal, and water-related projects. B-1 is correct — Seychelles issued the world's first sovereign blue bond in 2018. C-3 is correct — Sagarmala Finance Corporation is set to issue India's first Blue Bond in 2026. D-4 is correct — Green Bonds fund a broader range of climate and environmental projects (renewables, energy efficiency, sustainable transport), while Blue Bonds are narrowly focused on marine ecosystems.
Reason (R): It is an air-to-surface anti-radiation missile that homes in on enemy radar and radio-frequency emissions.
Both statements are true and R correctly explains A. RudraM-II is indeed developed to strengthen SEAD operations — neutralising enemy air defence systems in the initial phase of conflict (A is true). It achieves this through a passive homing head that detects and locks onto enemy radar and radio-frequency emissions (R is true). Because the missile's anti-radiation capability directly enables the suppression of air defence radars, R is the correct and complete explanation of A.
- Tier-3 towns accounted for 71% of new startups in 2025.
- The CAGR of women founders is higher than that of male founders.
- DPIIT recognition of startups increased from 3% in 2016 to 77% in 2025.
All three statements are correct. Statement I — Tier-3 towns accounted for 71% of new startups in 2025, up from just 15% in 2016, reflecting the democratisation of entrepreneurship. Statement II — the CAGR of women founders stands at 20%, significantly higher than 14% for male founders. Statement III — DPIIT recognition (which unlocks tax benefits and easier compliance) expanded dramatically from 3% in 2016 to 77% in 2025, indicating growing formalisation of the ecosystem.
- Announcement of the Mountbatten Plan (June 3 Plan)
- Arrival of Lord Mountbatten as Viceroy
- Direct Action Day and Calcutta Killings
- Advancement of Power Transfer to 15 August 1947
The correct sequence is 3 → 2 → 1 → 4. Direct Action Day and the Calcutta Killings occurred on 16 August 1946. Lord Mountbatten arrived as the last Viceroy on 22 March 1947. He announced the Partition Plan on 3 June 1947. That plan then advanced the date of power transfer from June 1948 to 15 August 1947.
