Daily Quiz — 11 Apr 2026

1. Q1.By how many basis points did the Asian Development Bank revise India's FY2026-27 growth forecast upward, and what is the revised figure?

   40 basis points to 6.9%25 basis points to 6.7%50 basis points to 7.0%40 basis points to 7.3%
   Explanation: The ADB raised India's FY2026-27 growth forecast by 40 basis points to 6.9%, citing stronger private consumption, public investment, and structural reforms.

2. Q2.Under the RBI's proposed revised scale-based regulation framework, what is the asset-size threshold for classifying an NBFC as an Upper Layer entity?

   ₹50,000 crore and above₹75,000 crore and above₹1,00,000 crore and above₹1,50,000 crore and above
   Explanation: The RBI's draft directions propose replacing the existing two-pronged methodology with a simpler threshold: NBFCs with assets of ₹1,00,000 crore (₹1 lakh crore) and above would be classified as Upper Layer entities.

3. Q3.What was the approximate surplus liquidity in the Indian banking system as of April 9, 2026, and what instrument did the RBI use to absorb it?

   ₹4.55 lakh crore surplus; absorbed via Variable Rate Repo (VRR) auction₹4.55 lakh crore surplus; absorbed via Variable Rate Reverse Repo (VRRR) auction₹2 lakh crore surplus; absorbed via Standing Deposit Facility (SDF)₹6 lakh crore surplus; absorbed via Open Market Operations (OMO)
   Explanation: Banking system liquidity stood at an estimated surplus of approximately ₹4.55 lakh crore as of April 9, and the RBI announced a ₹2 lakh crore Variable Rate Reverse Repo (VRRR) auction to absorb the excess, with reversal scheduled for April 17.

4. Q4.What percentage of depositors of National Urban Cooperative Bank Ltd., Pratapgarh, are eligible for full repayment under DICGC, and what is the maximum insured amount per depositor?

   98.50% of depositors; up to ₹3 lakh99.76% of depositors; up to ₹5 lakh99.76% of depositors; up to ₹2 lakh100% of depositors; up to ₹5 lakh
   Explanation: The RBI cancelled the bank's licence on April 10, 2026, and approximately 99.76% of depositors are eligible to receive full repayment up to ₹5 lakh through the Deposit Insurance and Credit Guarantee Corporation (DICGC).

5. Q5.Legal practitioners and former SEBI officials argue that the Securities Markets Code Bill, 2025 raises constitutional concerns primarily because it risks doing which of the following?

   Granting SEBI unlimited borrowing powers without parliamentary oversightUnconstitutionally concentrating legislative, executive, and judicial powers within a single regulatorEliminating judicial review of SEBI enforcement orders by courtsAllowing SEBI to levy taxes without a Finance Ministry mandate
   Explanation: Critics contend that defining contraventions and prescribing penalties are core legislative functions that cannot be constitutionally delegated to a regulatory body, meaning the Bill risks unconstitutionally concentrating legislative, executive, and judicial powers within a single regulator.

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