2 May 2026, Questions & Answers

Explanation

As per the article, the notification was issued by the Finance Ministry. The Department of Economic Affairs under the Ministry of Finance handles FDI policy and FEMA rules.

Explanation

Statement 1 is incorrect because the FDI cap was increased to 100% under the automatic route, not the government approval route. Statement 2 is correct as the article specifies a 20% cap for LIC. Statement 3 is correct as the notification was made via the FEMA (Non-debt Instruments) (Second Amendment) Rules, 2026.

Explanation

The article explicitly states that the FDI cap in the insurance sector was hiked to 100% under the automatic route from 74% earlier. The other options are distractors based on the previous limit or hypothetical figures.

Explanation

While not explicitly stated, the core objective of liberalizing FDI caps in capital-intensive sectors like insurance is to attract foreign investment, bring in global best practices, and deepen the financial market. The retention of a cap for LIC indicates the policy is not aimed at phasing out public sector entities.

Explanation

The article explicitly states that the RBI introduced the Expected Credit Loss (ECL) framework. The RBI is India's central banking institution responsible for monetary policy and regulation of the banking sector.

Explanation

Statement 1 is correct as the article mentions NPAs would be classified into three stages. Statement 2 is correct as the article states the change comes in line with the IFRS-9 framework introduced globally in 2008. Statement 3 is incorrect; the article clearly states the norms kick in from April 2027, not 2025.

Explanation

The article explicitly states: 'the new norms kick in from April 2027'. The other options are close distractors based on different fiscal years.

Explanation

The article quotes an expert saying 'the immediate impact would be a slight increase in cost if transitioning to the new method'. This cost may potentially be transferred to borrowers. The other impacts are not mentioned in the article.

Explanation

The decennial Census of India is conducted by the Office of the Registrar General and Census Commissioner, which operates under the Ministry of Home Affairs. This is a key static fact for governance-related questions.

Explanation

Statement 1 is incorrect as the article states caste enumeration will be done 'along with census operations', not separately. Statement 2 is correct as the director mentioned the 'ordinary residence' principle. Statement 3 is correct as Sheetal Verma, the Director of Census Operations for Uttar Pradesh, made the announcement.

Explanation

The article explicitly states the announcement was made on Saturday, May 2, 2026. This is a direct factual recall question testing attention to key dates in current affairs.

Explanation

The core implication of collecting caste data is to create an empirical basis for policy-making, particularly for affirmative action, reservation, and targeted welfare schemes. This addresses the historical lack of reliable caste data since 1931.

Explanation

Article 191 of the Constitution deals specifically with the disqualifications for membership of the State Legislature. Article 102 deals with disqualifications for Parliament, Article 324 with the Election Commission's powers, and Article 356 with President's Rule.

Explanation

Statement 1 is incorrect. Disqualification under Article 191(1)(e) is automatic upon conviction with a sentence of 2+ years; it is not 'ordered' by the ECI. Statement 2 is correct as per the article. Statement 3 is correct; a six-year disqualification from the effective date (April 15, 2026) bars contesting elections for that period.

Explanation

The article explicitly states that he has been disqualified for a period of six years from April 15, 2026. The other options are distractors based on different disqualification scenarios under the Representation of the People Act.

Explanation

The core constitutional principle behind such disqualifications is to maintain the integrity and moral authority of the legislative institutions by preventing individuals convicted of serious crimes from being lawmakers. The other options are incidental or incorrect interpretations of the provision's purpose.

Explanation

The article explicitly states that a team of United States Navy SEALs stormed the compound in Abbottabad. The Navy SEALs are the US Navy's primary special operations force, distinct from the Army's Green Berets or Delta Force.

Explanation

Statement 1 is incorrect. The raid occurred in Abbottabad, Pakistan, not Peshawar. Statement 2 is correct as per the article, which details bin Laden's past collaboration with the CIA against Soviet forces. Statement 3 is incorrect; the operation lasted under 40 minutes and was a ground assault by SEALs, not a prolonged aerial bombardment.

Explanation

The article clearly states the raid took place on May 2, 2011. This is a key factual date for exams. The other options are close distractors representing the years of the intensive manhunt leading up to the operation.

Explanation

The article discusses how the covert operation deep inside Pakistani territory, an ostensible ally, raised significant questions about sovereignty and strained US-Pakistan relations. The other events are not mentioned as direct consequences of this specific operation in the provided text.

Explanation

The article explicitly states that the Centre has sanctioned Buddhist projects for years under the Swadesh Darshan and allied schemes. This is a scheme of the Ministry of Tourism for integrated development of theme-based tourist circuits.

Explanation

Statement 1 is correct as the Komagata Maru was a Japanese steamship with 376 Indian passengers. Statement 2 is correct as the 'continuous journey regulation' was the legal basis for denial. Statement 3 is incorrect; the 'Shore Committee' was formed by the local South Asian community in Vancouver, led by Husain Rahim, not by British authorities.

Explanation

The article states that the price of ATF for international flights was hiked by $76.55 per kilolitre to $1,511.86 per kl from May 1. The other options are plausible distractors but not the exact figure mentioned.

Explanation

The article directly compares the current 12% slide in the rupee's value over 12 months to the situation in September 2013, when the rupee lost 12% of its value between January and September, leading to the coinage 'Fragile Five' for emerging economies like India with current account deficits.

Explanation

The article explicitly states that the DRDO and the Indian Navy successfully test-launched the NASM-SR missile. DRDO is India's primary agency for military R&D.

Explanation

Statement 1 is correct as the NASM-SR is indigenously developed by DRDO. Statement 2 is incorrect; the NASM-SR (380 kg, 55 km) is lighter but has a shorter range than the Sea Eagle (580 kg, 110 km). Statement 3 is correct as the article describes the 'man-in-loop' feature enabled by a two-way data link.

Explanation

The article clearly states that a single NASM-SR missile weighs around 380 kg. The 580 kg option is the weight of the older Sea Eagle missile, a likely distractor.

Explanation

The article states that demonstrating a salvo launch shows the ability to overwhelm shipborne defence systems. Firing multiple missiles in quick succession makes it harder for defensive systems to intercept all of them.

Explanation

Article 5 of the North Atlantic Treaty establishes the principle of collective defence for NATO, stating that an attack against one ally is considered an attack against all. The article is central to the alliance's security framework.

Explanation

Statement 1 is correct as per German Defence Minister Boris Pistorius. Statement 2 is correct as the article states Ramstein is the HQ for US air forces in Europe. Statement 3 is incorrect; the withdrawal of the 2nd Cavalry Regiment was part of a 2020 plan announced by Trump, which was reversed by the Biden administration in February 2021.

Explanation

The article explicitly states the US announced it would 'withdraw 5,000 soldiers from Germany'. The figure of 12,000 refers to a broader 2020 plan for troop reductions in the region, not the specific latest withdrawal from Germany.

Explanation

The article consistently frames the withdrawal as a move that pressures Europe to accelerate its path towards strategic autonomy and greater defence spending. German Defence Minister Pistorius explicitly stated, 'We Europeans must take on more responsibility for our own security.' While it may indirectly spur capability development, the primary and immediate implication is the shift in responsibility.

Explanation

The article states that the nuclear power sector was 'tightly-controlled' and that the SHANTI Act enables private players to enter operations, breaking the state monopoly. NPCIL, under the Department of Atomic Energy, was the sole operator before this reform.

Explanation

Statement 1 is correct as the article says the Act 'enabled private players to enter the operations side... as well as areas such as fuel management'. Statement 2 is incorrect and is the examiner's trap. The article mentions the Act was passed amid concerns over 'whittling down of provisions fixing responsibility on equipment suppliers', implying the new liability regime is less stringent, not more. Statement 3 is directly stated: 'This new Act replaced two earlier legislations – the Atomic Energy Act, 1962... and the Civil Liability for Nuclear Damage Act, 2010'.

Explanation

The article explicitly states the delegation's five-day schedule is 'May 17-21'. It further details that they land in Delhi on May 17 and head to Mumbai on May 20.

Explanation

The article quotes a top official stating the outreach is 'driven more by the need for capital than the need for technology'. While technology (LWRs/SMRs) is a focus, the primary imperative is financing. India has mastery over PHWR technology, so option A is incorrect.

Explanation

The Indian Railways, under the Ministry of Railways, is responsible for operating and launching all train services in the country, including the Vande Bharat Express. The article mentions the train's timetable source as Indian Railways.

Explanation

Statement 1 is correct as per the article's published date and the mentioned 'under five hours' travel time. Statement 2 is incorrect; the Chenab bridge is the world's highest railway bridge, not road bridge. Statement 3 is correct as the article lists these three stops before Jammu.

Explanation

The article explicitly states that the 'roughly 260-kilometre distance between Srinagar and Jammu' has been marred by landslides. The other options are close but incorrect distractors.

Explanation

Multiple passengers, like the soldier Gagan and travel agent Sajad, emphasize the reliability and time saved compared to the unpredictable, landslide-prone road journey on NH44. The article's core theme is the 'luxury of certainty' it provides, not primarily cost, luxury, or freight.

Explanation

The article explicitly states the speech was delivered at the 'FIMMDA-PDAI Annual Conference in Amsterdam'. FIMMDA stands for Fixed Income Money Market and Derivatives Association of India, and PDAI is the Primary Dealers Association of India.

Explanation

Statement 1 is correct as per the article. Statement 2 is incorrect; the Governor highlighted private credit growth as a source of 'opacity and systemic risk', not transparency. Statement 3 is correct as the article mentions the 6.9% projection for 2026-27.

Explanation

The article states that foreign exchange reserves are 'comfortable, providing an import cover of about 11 months.' The other options are close distractors not mentioned in the text.

Explanation

The article specifies that the Governor noted AI promises productivity gains but 'concerns persist over the viability of some business models, the pace and scale of efficiency improvements, and potential job impacts.' The other options attribute effects to AI not mentioned in the article.

Explanation

Article 142 of the Constitution grants the Supreme Court the extraordinary power to pass any decree or order necessary for doing 'complete justice' in any matter before it. In the Reliance-DDA case, the Supreme Court used this power under Article 142 to set aside the 2008 conveyance deed.

Explanation

Statement 1 is correct as the Supreme Court did invoke 'Bleak House' and the fictional case 'Jarndyce vs Jarndyce'. Statement 2 is incorrect because the interest rate ordered was 7.5% per annum, not 8%. Statement 3 is correct as the judgment indeed laid down key guidelines for summary judgment under CPC Order XIII-A.

Explanation

The Supreme Court's order specifically directed DDA to refund ₹164.91 crore to Reliance Eminent Trading. This was the original bid amount paid by Reliance in 2007. The other options are close distractors.

Explanation

The Supreme Court held that once the land acquisition lapsed (as upheld by the Court in 2017), DDA had no surviving rights in the land, and the title had reverted to the original owners. Therefore, DDA's argument that refund was contingent on the return of possession was irrelevant, as the core consideration for the 2007 deal had failed.

Explanation

The article explicitly states that Iran submitted the peace proposal 'through Pakistan, which is acting as a mediator' and that the offer was passed to Washington 'via Pakistani intermediaries'.

Explanation

Statement 1 is correct as the article mentions 'Hormuz first' as the starting point for talks. Statement 2 is incorrect because the article clearly states 'Missile programme excluded'. Statement 3 is correct as the article says 'Nuclear issue later' and discussions would be 'deferred to a later stage'.

Explanation

The article's title and content repeatedly refer to it as a '14-point peace proposal' and a '14-point plan'. The other options are plausible but incorrect distractors.

Explanation

The article states that tensions have centred on the Strait of Hormuz where 'competing US and Iranian naval blockades have disrupted energy supplies' and that its closure 'has disrupted a significant share of global oil and gas flows'. The other options are not supported by the article's content.

Explanation

The article explicitly states that the United Arab Emirates (UAE) announced its exit from the Organization of the Petroleum Exporting Countries (OPEC) and its extended alliance, OPEC+. The other organizations are not mentioned in the context of this exit.

Explanation

Statement 1 is correct as per the article dates. Statement 2 is incorrect; the article states the exit was 'counterintuitive to the ongoing double blockade of the Strait of Hormuz'. Statement 3 is correct, directly quoting the Emirati official statement.

Explanation

The article clearly states that the UAE 'provided only three days’ notice for exit from OPEC and OPEC+ on May 1'. The other options are plausible but incorrect distractors.

Explanation

The article quotes the Emirati statement as seeking 'to rationalise the decision aimed at pursuing national interest'. The other options are interpretations or actions not supported by the official statement provided in the text.

Explanation

The article explicitly states that the 80th round of the household social consumption (health) survey was conducted by the National Statistical Office (NSO). The NSO, under MoSPI, is responsible for major socio-economic surveys in India.

Explanation

Statement 1 is correct as per the article: insurance coverage expanded threefold since PMJAY's launch. Statement 2 is incorrect because the article clearly states 'the hospitalisation rate has not recovered to the 2014 level'. Statement 3 is correct as the median OOPE is given as ₹11,285 per hospitalisation.

Explanation

The article provides the exact figure: 'the median OOPE has dropped, to ₹11,285 per hospitalisation'. The other options are plausible but incorrect distractors.

Explanation

The article concludes that 'the next phase of health-care reform... will need to strengthen public sector hospital capacity to compete with the private sector for tertiary care.' While insurance coverage has expanded (option A), the core challenge now is building public capacity to ensure actual access.

Explanation

The Integrated Child Development Services (ICDS) is a flagship scheme under the Ministry of Women and Child Development. It provides services for early childhood care and development, including nutrition and preschool education.

Explanation

Statement 1 is correct as per the article's mention of NEP 2020. Statement 2 is incorrect; the article explicitly states that 'Anganwadis largely focus on food supplementation', not early childhood education as a primary focus. Statement 3 is correct as Koosina Mane is mentioned as a community-based childcare initiative. Hence, both 1 and 3 are correct.

Explanation

The article directly states that the National Education Policy 2020 has the goal of 'universal, quality pre-primary education by 2030'. 2047 is the vision year for Viksit Bharat, while 2025 and 2040 are not mentioned in this context.

Explanation

The article proposes integrating counselling on responsive caregiving into the routine functions of existing platforms like anganwadi centres and primary health services. This is listed as the first of three practical administrative priorities. The other options are not supported by the article's recommendations.

Explanation

The article explicitly states that the Fourth Geneva Convention mandates that a country cannot transfer its civilian population into occupied territory, and this position is reaffirmed by the International Court of Justice (ICJ).

Explanation

Statement 1 is incorrect because the article clearly states settlers are 'not a monolith' and includes secular 'economic settlers'. Statement 2 is correct as per the description of 'Hilltop Youth'. Statement 3 is correct as the article states the Ultra-Orthodox moved due to 'socio-economic pressures: a severe housing crisis'.

Explanation

The article directly quotes the 2025 EU report, stating 'in 2024, there were approximately 5,03,732 settlers living in the West Bank'. The figure 233,600 refers to settlers in East Jerusalem.

Explanation

The article states: 'According to Israeli liberal advocacy organisation Peace Now, neighbourhoods in East Jerusalem have been constructed to cement Israeli sovereignty. Hence, this construction negates the Palestinian claim to the city as its capital.' This highlights the geopolitical objective over purely housing or security reasons.

Explanation

The Reserve Bank of India (RBI) introduced the Scale-Based Regulatory (SBR) framework for NBFCs, which includes a mandatory listing requirement for large Upper Layer NBFCs. SEBI's LODR regulations apply after the entity is listed.

Explanation

Statement 1 is correct as per the article. Statement 2 is incorrect; the 2026 Amendment raised the threshold to ₹1 lakh crore, not ₹1,000 crore. Statement 3 is correct as the report argues that structural linkages via listed group companies create an indirect receipt of public funds.

Explanation

The article explicitly states Tata Sons has reported assets exceeding ₹1.75 lakh crore, which vastly exceeds the ₹1,000 crore old threshold and the new ₹1 lakh crore Upper Layer threshold established in 2026.

Explanation

The article states that if the RBI rejects the application, Tata Sons 'will have to go for an IPO and list the shares on the stock exchanges' to comply with the mandatory listing obligation under the Scale-Based Regulatory framework for Upper Layer NBFCs.

Explanation

Article 25 of the Indian Constitution guarantees the freedom of conscience and the right to freely profess, practice, and propagate religion. The Allahabad HC judgment specifically interpreted the limitations on this right, noting it is subject to public order, morality, and health.

Explanation

Statement 1 is incorrect. The court explicitly stated the right is "not unlimited" and is subject to public order, morality, and health. Statement 2 is incorrect. The court observed that law does not require authorities to wait for an actual disturbance; they can act preventively where an activity is likely to affect public order. Statement 3 is correct. This was a core reasoning of the judgment, distinguishing protected private prayer from regulable public congregational activity.

Explanation

The article states the division bench observed in its "April 6 order, uploaded on April 30." April 6, 2026, is the date of the order. April 30 is the upload date, June 16, 2023, is the date of the petitioner's gift deed, and May 2, 2026, is the article's publication date.

Explanation

The core of the court's reasoning was that the petitioner was not protecting an existing limited practice but seeking to introduce regular, large-scale congregational gatherings. This expansion beyond a private sphere into the public domain brought it under the state's regulatory power to maintain public order and social harmony, as per restrictions under Article 25.

Explanation

The article states that the Panchayat Advancement Index (PAI) 2.0 was released by the Ministry of Panchayati Raj. NITI Aayog releases the SDG India Index, which tracks progress at the state level.

Explanation

Statement 1 is correct as PAI assesses panchayats on nine SDG themes. Statement 2 is incorrect because the article explicitly states that no panchayat made it to the 'Achiever' category. Statement 3 is incorrect as the article mentions the index covers all Gram Panchayats 'except West Bengal'.

Explanation

The article provides the exact figures: 3,635 Gram Panchayats were ranked as 'Front Runner'. 1,18,824 were 'Performers', 1,23,719 were 'Aspirants', and 13,689 were 'Beginners'.

Explanation

The article states that the PAI was developed as 'a key metric for assessing progress at the grassroots level' for the Localization of SDGs (LSDGs). The other options describe functions of other mechanisms like eGramSwaraj (fund transfer) or State Election Commissions (elections).

Explanation

The court held the illegal arrest and detention were a gross violation of Article 22(1) of the Constitution, which mandates that a person arrested must be informed of the grounds for arrest. This was the core constitutional provision cited in the judgment.

Explanation

Statement 1 is correct as the court imposed ₹10 lakh costs. Statement 2 is incorrect; the violation was of Article 22(1), not Article 21. Article 21 protects life and personal liberty, but the specific procedural violation was under Article 22(1). Statement 3 is correct as the High Court did reference the Mihir Rajesh Shah case.

Explanation

The Allahabad High Court bench specifically ordered exemplary costs quantified at Rupees Ten Lakhs (₹10 lakh) to be imposed on the State authorities for the illegal arrest and incarceration lasting over three months.

Explanation

The court's clarification that the state can recover the cost from responsible officials is significant as it moves beyond state liability to enforce individual accountability. This acts as a stronger deterrent against procedural violations by police and magistrates, promoting responsible governance.

Explanation

The Enforcement Directorate is a law enforcement and economic intelligence agency under the Department of Revenue, Ministry of Finance. It is primarily responsible for investigating economic crimes and enforcing the PMLA and FEMA.

Explanation

Statement 1 is incorrect as the FEOA applies to scheduled offences where the value is ₹100 crore or more, not less. Statement 2 is incorrect because a key condition is that the individual has left India or is abroad and refuses to return to avoid prosecution. Statement 3 is correct as the primary purpose of the FEOA is to allow for the confiscation of properties of declared fugitive economic offenders.

Explanation

The article explicitly states that assets worth around ₹2,178.34 crore have been confiscated from the 21 declared Fugitive Economic Offenders. ₹655 crore is the undisclosed foreign income in the Sanjay Bhandari case, not the total confiscated amount.

Explanation

A key provision of the FEO Act is that upon declaration, the fugitive economic offender is disentitled from putting forward or defending any civil claim before any court or tribunal in India. This is a major deterrent. Extradition is a separate, complex process not guaranteed by the Act alone.

Explanation

The Disaster Management Act, 2005 established the National Disaster Management Authority (NDMA) as the apex body for disaster management in India, with the Prime Minister as its Chairperson. The article mentions NDMA's critical role in leading the development of comprehensive frameworks.

Explanation

Statement 1 is correct as the article states the 16th Finance Commission recommends inclusion of heatwaves as a nationally notified disaster, enabling access to NDRMF. Statement 2 is incorrect; the article states the current cap is 10%, not 25%. Statement 3 is correct as the article mentions expanded fiscal space for financing longer-term resilience and mitigation initiatives.

Explanation

The article explicitly states: "Until now, states could use up to 10 per cent of their State Disaster Response Fund (SDRF) to provide immediate relief for local disasters, including heatwaves..." The other options are plausible-sounding but incorrect distractors.

Explanation

The article's core argument is that the reclassification "expands fiscal space not only for relief measures but also for financing longer-term resilience and mitigation initiatives" by enabling access to NDRMF and SDRMF. This is presented as the key shift from short-term response to long-term vision.