Daily Quiz — 29 May 2026

1. Q1.What is the RBI's projected GDP growth rate for India in 2026-27, as mentioned in the Economic Times article on India's growth strategy?

   6.9%7.2%6.5%7.5%
   Explanation: The RBI projects 6.9% GDP growth for 2026-27, supported by stronger bank balance sheets, infrastructure spending, and manufacturing incentives in sectors like semiconductors, biopharma, and green technology.

2. Q2.According to the article on RBI's forex gains, by what percentage did the RBI's balance sheet expand to reach ₹91.97 lakh crore as of March 2026?

   15.34%18.75%20.61%22.50%
   Explanation: The RBI's balance sheet expanded by 20.61% to ₹91.97 lakh crore as of March 2026, supported by surging forex intervention gains of ₹1.69 lakh crore in FY26, which underpinned a record dividend transfer to the government.

3. Q3.As per the cybersecurity article, what percentage of Indian financial firms invest more than 10% of their IT budgets on cybersecurity, compared to 76% globally?

   52%45%29%38%
   Explanation: Only 38% of Indian financial firms invest more than 10% of IT budgets on cybersecurity, far below the global benchmark of 76%, leaving mid-tier lenders like small finance banks, NBFCs, and urban cooperative banks highly vulnerable.

4. Q4.Former RBI Governor Duvvuri Subbarao's stance on managing rupee depreciation suggests that the RBI should primarily rely on which mechanism rather than rate hikes?

   Allowing natural rupee depreciation through exchange rate flexibilityAggressive open market operations to defend the rupeeIncreasing the cash reserve ratio to tighten liquidityImposing capital controls on foreign portfolio investors
   Explanation: Subbarao urges the RBI to allow the rupee to depreciate naturally through exchange rate flexibility, warning that rate hikes risk damaging GDP growth while rate cuts risk stoking inflation, leaving the MPC with limited room to manoeuvre.

5. Q5.Under India's new Income Tax Rules 2026, which form replaces the familiar Form 26AS to provide a more comprehensive financial profile of taxpayers?

   Form 26BForm 168Form 49AForm 15G
   Explanation: Form 168 replaces Form 26AS under the new Income Tax Rules 2026, consolidating tax credits, high-value financial transactions, mutual fund activity, property deals, foreign remittances, and pending tax proceedings into a two-part form for both taxpayers and the Income Tax Department.

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