Daily Current Affairs Quiz Prelims Practice 2027
- The Economic Capital Framework (ECF) was revised in 2019 on the recommendations of the Bimal Jalan Committee.
- The Contingency Risk Buffer (CRB) under the ECF is set at 5.5%–6.5% of the RBI’s balance sheet.
- RBI’s annual surplus transfer to the Central Government forms part of the divisible pool distributed between the Centre and States by the Finance Commission.
- Section 47 of the RBI Act, 1934 mandates payment of the balance of annual profits to the Central Government after all provisions are made.
Statements 1, 2 and 4 are correct: the ECF was revised in 2019 on the Bimal Jalan Committee (2018–19) recommendations (not the Nachiket Mor Committee, which dealt with financial inclusion), the CRB is set at 5.5%–6.5% of the balance sheet as a capital cushion, and Section 47 of the RBI Act, 1934 is the statutory basis for transferring the residual balance after all provisions. Statement 3 is the trap — RBI surplus is non-tax revenue that falls entirely outside the divisible pool distributed by the Finance Commission under Article 280, so States have no automatic legal claim to it.
The 35,000-cusec alternating-period guarantee is tied to the March–May dry season, the most agriculturally critical window for both countries. January–March and February–April shift the window too early, while April–June overlaps with the onset of the southwest monsoon, by which time natural flows make a guaranteed minimum unnecessary. The 2019 review flagged repeated low-flow occurrences at Farakka precisely during this March–May window.
- The UAE joined BRICS in January 2024 as part of the expansion from 5 to 10 members.
- The Indian Ocean Rim Association (IORA) has 23 member states and 9 dialogue partners, with its headquarters in Ebene, Mauritius.
- The India–UAE Comprehensive Economic Partnership Agreement (CEPA), signed in February 2022, was India’s first CEPA with any country.
- The G7 has a permanent secretariat based in Geneva.
Statements 1 and 2 are correct: the UAE joined BRICS in January 2024 in the first expansion from 5 to 10 members (adding Egypt, Ethiopia, Iran, Saudi Arabia and the UAE), and IORA has 23 member states and 9 dialogue partners with HQ in Ebene, Mauritius. Statement 3 is a category conflation — the India–UAE CEPA (Feb 2022) was India’s first CEPA with a Gulf country, not its first ever, since India had earlier signed CEPAs with South Korea (2009) and Japan (2011). Statement 4 is wrong because the G7 is an informal forum with no permanent secretariat, no founding treaty and a presidency that rotates annually.
- LEMOA with the United States
- MLSA with Australia
- COMCASA with the United States
- RELOS with Russia
The correct order is LEMOA (India–US, 2016, India’s first LSA excluding permanent basing) → COMCASA (India–US, 2018, secure communications interoperability) → MLSA (India–Australia, 2020, strengthening Quad logistics) → RELOS (India–Russia, signed 2025 and operationalised 2026, with Arctic facility access). A useful mnemonic is L–C–A–R, “Let Comms Anchor Realities.”
- A. Chandrasekhar Limit | B. Lambda-CDM Model | C. Hubble Tension | D. ESA Euclid Mission
- 1. Launched July 2023; maps dark energy and dark matter across 10 billion years of cosmic history by observing billions of galaxies
- 2. Unresolved discrepancy between the locally measured expansion rate (~73 km/s/Mpc) and the Planck CMB-based measurement (~67 km/s/Mpc)
- 3. ~1.4 solar masses; the maximum mass of a stable white dwarf beyond which thermonuclear explosion occurs; named after an Indian-American Nobel laureate
- 4. Standard Model of Cosmology incorporating the cosmological constant (Λ) and Cold Dark Matter
The Chandrasekhar Limit (A→3) is ~1.4 solar masses, the maximum stable mass of a white dwarf, named after Nobel laureate Subrahmanyan Chandrasekhar. The Lambda-CDM Model (B→4) is the Standard Model of Cosmology combining the cosmological constant (dark energy) and Cold Dark Matter, while the Hubble Tension (C→2) is the unresolved gap between locally measured (~73 km/s/Mpc) and Planck CMB-derived (~67 km/s/Mpc) expansion rates. The ESA Euclid Mission (D→1), launched July 2023, maps dark matter and dark energy across cosmic history.
