Daily Quiz — 31 May 2026

1. Q1.Under the new PFRDA Retirement Income Scheme (RIS) launched under NPS, what is the initial equity allocation percentage in the RIS Steady vehicle at age 60?

   35 percent50 percent25 percent40 percent
   Explanation: The RIS Steady glide-path vehicle begins with 35 percent equity allocation at age 60 and gradually shifts toward safer assets as the subscriber ages, balancing growth and capital preservation in early retirement years.

2. Q2.According to the article on FPI activity, what was the cumulative net FPI outflow from Indian equities in 2026 as of the data reported?

   ₹2,24,932 crore₹1,84,500 crore₹32,963 crore₹2,56,000 crore
   Explanation: Cumulative net FPI outflows from Indian equities in 2026 stood at ₹2,24,932 crore, with May 2026 alone accounting for ₹32,963 crore — the third consecutive month of net selling.

3. Q3.What structural transaction did Kotak Mahindra Bank's board approve regarding its subsidiary Kotak Mahindra Investments Ltd (KMIL)?

   Acquisition of a ₹10,639 crore loan portfolio and non-treasury investments from KMILFull merger of KMIL into Kotak Mahindra Bank at a share swap ratioSale of KMIL's equity portfolio to a third-party asset managerDemerger of KMIL's lending business into a separate NBFC entity
   Explanation: Kotak Mahindra Bank approved the acquisition of a ₹10,639 crore loan portfolio and non-treasury investments from KMIL to streamline group operations, with the deal expected to close in the July–September 2026 quarter.

4. Q4.According to the article on Indian banks' profitability outlook for FY27, at what level are net interest margins expected to stabilise?

   2.9%3.2%2.5%3.5%
   Explanation: Net interest margins for Indian banks are expected to hold at 2.9% in FY27, though rising deposit costs, softer other income, and early ECL provisioning will weigh on return on assets.

5. Q5.In the context of the gold market article, which single event is identified as the biggest downside risk to gold's bullish consensus near $4,500 per ounce?

   A potential rate hike at the December Federal Open Market Committee meetingA sudden de-escalation of the Iran conflict reducing safe-haven demandLarge-scale central bank gold sales by emerging market economiesA sharp appreciation of the Chinese yuan boosting alternative safe havens
   Explanation: The article identifies a potential rate hike at the December FOMC meeting as the single biggest downside risk to gold, as higher-for-longer US rates would strengthen the dollar and reduce the appeal of non-yielding assets like gold.

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