Daily Quiz — 29 Apr 2026

1. Q1.Under the proposed SEBI workaround for FPI tax compliance, what role would professionals be allowed to assume instead of 'authorised representatives' to reduce personal liability?

   Authorised signatoriesDesignated compliance officersStatutory auditorsPrincipal nominees
   Explanation: SEBI proposed that FPIs appoint 'authorised signatories' instead of 'authorised representatives' under the new income tax rule, thereby reducing personal liability exposure for chartered accountants, lawyers and fund employees involved in FPI registration.

2. Q2.What approximate decline in collection efficiency did Indian lenders experience during last year's heatwave season in the microfinance and gold loan segments?

   50–200 basis points10–50 basis points250–400 basis points300–500 basis points
   Explanation: According to the article, last year's heatwave caused collection efficiency to fall 50–200 basis points in the second quarter, prompting lenders to adopt AI-led collections tools to mitigate similar disruption this year.

3. Q3.Under the proposed Financial Inclusion 2.0 review, what is the suggested increase in the guaranteed monthly pension under the Atal Pension Yojana?

   ₹10,000 per month₹5,000 per month₹7,500 per month₹15,000 per month
   Explanation: The Financial Inclusion 2.0 review proposes doubling the Atal Pension Yojana guaranteed pension from the current level to ₹10,000 per month, alongside raising Jan Suraksha insurance cover to ₹5 lakh.

4. Q4.The Bombay High Court ruled that contractual time-bar clauses in health insurance policies are void under which section of the Indian Contract Act?

   Section 28(b)Section 45Section 64VBSection 32(a)
   Explanation: The Bombay High Court invoked Section 28(b) of the Indian Contract Act to strike down time-bar clauses, ruling that insurers cannot reject legitimate health insurance claims solely because they were filed late.

5. Q5.Under the Insolvency and Bankruptcy Code (Amendment) Act 2026, what minimum percentage of creditor approval by value is required to initiate a creditor-initiated insolvency resolution process (CIIRP)?

   51%66%75%40%
   Explanation: The draft CIIRP regulations under the IBC Amendment Act 2026 require at least 51% creditor approval by value to proceed with out-of-court restructuring, while capping payouts to dissenting creditors to curb holdout behaviour.

You didn't attempt this quiz.