Daily Current Affairs Quiz Prelims Practice 2027
- The Life Insurance Corporation of India (LIC) holds approximately 19% of India's outstanding central government dated securities, making it the single largest domestic holder.
- IRDAI classifies LIC as a Domestic Systemically Important Insurer (D-SII) because its failure would cause systemic disruption to the government's sovereign borrowing programme itself, not merely to the insurance market.
- Private life insurers collectively hold a larger share of central government securities than LIC, because the IRDAI mandates a higher G-Sec allocation for private players.
- The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, raises the foreign direct investment ceiling in insurance companies from 74% to 100%.
Statements 1, 2 and 4 are correct. LIC holds roughly 19% of central government dated securities, the single largest domestic holder, and its D-SII classification reflects that its distress would disrupt the government's own borrowing programme, not just the insurance market. The Sabka Bima Sabki Raksha Act, 2025, does raise the FDI ceiling in insurance from 74% to 100%. Statement 3 is incorrect — it is LIC, not private insurers, that dominates G-Sec holdings; private insurers hold less because their product mix skews toward ULIPs invested more in equities and corporate bonds, and there is no such IRDAI mandate for a higher private allocation.
Option (c) is correct — the Judges (Inquiry) Act, 1968, structures the process into investigation/proof of misbehaviour and removal by Parliament, without any explicit provision that resignation lapses the inquiry; this is the basis on which the tabling of the Justice Varma inquiry report has been defended. Option (a) is wrong — resignation does not automatically extinguish proceedings in law; past cases (Dinakaran, Soumitra Sen, both 2011) were wound up as a matter of practice, not statute. Option (b) is wrong — the Supreme Court in 1978 held a High Court judge's resignation takes effect unilaterally without needing presidential acceptance. Option (d) is wrong — no judge has ever been impeached in India; Soumitra Sen resigned before the Lok Sabha could vote, rendering his case moot.
- The current entitlement under Section 3 of the NFSA gives each AAY household 35 kg of foodgrains per month regardless of the number of household members.
- The proposed amendment would entitle each person in an AAY household to 7 kg of foodgrains per month, with a household ceiling of 35 kg per month, and would also address the problem of ineligible persons enrolled as NFSA beneficiaries.
- Kerala launched its formal Public Distribution System in 1965, the same year the Food Corporation of India was established.
- Tamil Nadu's proposed monthly AAY allocation would fall from approximately 65,261 tonnes to 42,040 tonnes if the amendment is enacted.
Statements 1 and 4 are correct. Section 3 of the NFSA currently entitles each AAY household to a flat 35 kg per month regardless of size, creating the intra-category equity problem the amendment targets, and Tamil Nadu's CM has flagged a fall in the state's monthly AAY allocation from 65,261 tonnes to 42,040 tonnes. Statement 2 is incorrect — the proposed amendment does not address ineligible beneficiaries; that problem persists separately at the state level, as acknowledged by the Ministry. Statement 3 is incorrect — Kerala launched its formal PDS in 1962, three years before the FCI was established in 1965, not the same year.
- (a) DigiLocker (1) Stores and facilitates the transfer of earned academic credits across institutions, enabling Multiple Entry–Multiple Exit flexibility
- (b) APAAR (2) Serves as the operational digital platform through which the National Academic Depository (NAD) issues and provides access to academic credentials
- (c) Academic Bank of Credits (ABC) (3) Assigns a unique permanent academic account identity to each student and manages their credit records
- (d) e-Sanad (4) Enables electronic verification, attestation, and apostille of academic documents for overseas employment, education, or immigration
DigiLocker is the operational platform through which NAD issues and delivers academic credentials, not the depository itself. APAAR assigns each student a unique permanent 12-digit academic identity and manages their credit history, distinct from ABC which handles credits, not identity. ABC stores and transfers earned credits across institutions, enabling NEP 2020's Multiple Entry–Multiple Exit provisions. e-Sanad handles electronic attestation and apostille of documents for overseas use, integrated with NAD/DigiLocker — giving (a)–2, (b)–3, (c)–1, (d)–4.
- Launch of POSHAN Abhiyaan at Jhunjhunu, Rajasthan
- Launch of Poshan Tracker by the Ministry of Women and Child Development and the National e-Governance Division
- Announcement of Mission Saksham Anganwadi and Poshan 2.0 under the Union Budget
- Poshan Tracker achieves nationwide coverage across all 28 States and 8 Union Territories
The correct sequence is POSHAN Abhiyaan's launch (8 March 2018, Jhunjhunu) → Poshan Tracker's launch (March 2021, by MoWCD with NeGD) → Mission Saksham Anganwadi and Poshan 2.0's announcement (Budget 2021–22, consolidating POSHAN Abhiyaan, Anganwadi Services, and the Scheme for Adolescent Girls) → Poshan Tracker achieving nationwide coverage across all 28 states and 8 UTs (May 2026, with over 8.93 crore beneficiaries).
