Daily Current Affairs — 24 September 2026
Daily Current Affairs · 24 September 2026
10 fully-analysed topics · 30 bilingual MCQs · 3 embedded videos · built for UPSC Prelims & Mains
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Indian Economy MCQ Quiz · भारतीय अर्थव्यवस्था प्रश्नोत्तरी
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Economy
G20 Nations Adopt 4 Consensus Outcomes on Energy, Water and Critical Minerals
India joined other G20 members in adopting four consensus outcomes at the G20 Energy Abundance Ministerial held in Houston.
- Household Energy Access: G20 members supported affordable and scalable clean cooking solutions
- Water Reuse Initiative: G20 launched a voluntary water-reuse initiative to encourage recycling and reuse of water across sectors such as communities
- Nature of Commitments: The G20 outcomes are consensus-based political commitments and not legally binding treaties
Which of the following statements about G20 Nations Adopt 4 Consensus Outcomes on Energy, Water and is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
India’s Shift Towards PNG from LPG
India is strategically pushing to replace Liquefied Petroleum Gas (LPG) with Piped Natural gas (PNG) for domestic cooking to reduce import dependence.
- About: LPG consists of propane and butane. It is liquefied under moderate pressure, stored in cylinders, and is heavier than air
- While PNG is supplied via a reticulated pipeline network (City Gas Distribution)
- History of LPG and PNG in India: LPG was first introduced in India in 1955 by Burmah Shell Oil Company in Mumbai under the brand Burshane
- Meanwhile, in the case of PNG, Vadodara emerged as the pioneer, becoming the first Indian city to implement a city-wide piped natural gas network
Show 4 more facts
- However, PNG penetration remains limited at about 1.5 crore connections, with a target to expand it to 12 crore by 2034.
- On the other hand, domestically, PNG in India comes from gas fields like the Krishna-Godavari (KG) basin, Assam, and Tripura
- CNG (Compressed Natural Gas): Formation: Natural gas (methane) compressed to less than 1% of its volume at standard atmospheric pressure.
- Formation: Natural gas cooled to approximately -162C (-260F), turning it into a clear, colorless liquid.
4. What is the significance of the KG-DWN 98/2 Block for India's energy targets? Located in the Krishna-Godavari Basin
Which of the following statements about India’s Shift Towards PNG from LPG is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
RBI's Forex Swap Facility and VRRR Operations
In a strategic move to stabilize the weakening domestic currency and manage money markets.
- Special Forex Swap Facility: Launched by the RBI in June 2026
- The VRRR auction is a monetary policy tool utilized by the RBI under its Liquidity Adjustment Facility (LAF)
- Unlike fixed-rate reverse repos, the interest rate in a VRRR auction is determined through competitive bidding by commercial banks.
Which of the following statements about RBI's Forex Swap Facility and VRRR Operations is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
India’s Record Forex Reserves: FCNR(B) Swap Facility
India's foreign exchange reserves reached an all-time high of USD 729.33 billion as of August 21.
- Concessional Swap Window: It is a targeted monetary
- Alongside FCNR(B) deposits, the concessional window attracted USD 4.86 billion through Overseas Foreign Currency Borrowings (loans or debt
- Along with measures such as tax relief for foreign portfolio investments in government securities and valuation gains in foreign currency assets
- Forex reserves provide the RBI with a crucial buffer against excessive rupee volatility and external shocks
Show 6 more facts
- Definition: FCNR(B) is a type of fixed deposit account opened by Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) in India.
- Foreign Currency Denomination: Unlike standard NRE (Non-Resident External) and NRO (Non-Resident Ordinary) which are maintained in Indian Rupees
- Zero Exchange Rate Risk for Depositors: Because the money is kept in the foreign currency
- Repatriability and Taxation: The principal amount and the interest earned are fully repatriable (can be easily taken back to the country of residence)
- Definition: Forex reserves are assets held on reserve by a central bank in foreign currencies
- Key Components: In India, forex reserves are broadly divided into four categories: Foreign Currency Assets (FCA): The largest component, consisting
With reference to India’s Record Forex Reserves: FCNR(B) Swap Facility, consider the following statements:
- Concessional Swap Window: It is a targeted monetary
- Alongside FCNR(B) deposits, the concessional window attracted USD 7.3 billion through Overseas Foreign Currency Borrowings (loans or debt
Which of the statements given above is/are correct?
Correct. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source.
Not quite. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source. The green option is the correct one.
Economy
RBI Eases External Commercial Borrowing Framework
The Reserve Bank of India has drawn up a new external commercial borrowing (ECB) framework in order to further improve the ease of doing business in India.
- The new framework will come into effect immediately.
- External Commercial Borrowings is a loan availed by an Indian entity from a nonresident lender with a minimum average maturity.
- Most of these loans are provided by foreign commercial banks buyers' credit
- Advantages of ECBs: ECBs provide opportunity to borrow large volume of funds.
Show 6 more facts
- The funds are available for relatively long term.
- Interest rate are also lower compared to domestic funds.
- ECBs are in the form of foreign currencies. Hence, they enable the corporate to have foreign currency to meet the import of machineries etc.
- Corporate can raise ECBs from internationally recognized sources such as banks, export credit agencies, international capital markets etc.
- The RBI kept the borrowing limit under the automatic route unchanged at $750 million per financial year but replaced the sector-wise limits.
- RBI has expanded the definition of beneficiaries eligible for external commercial borrowings to include all entities
Which of the following statements about RBI Eases External Commercial Borrowing Framework is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Spectrum History MCQ 1 | Introduction
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Economy
VRRR Auction to Absorb Excess Liquidity
The Reserve Bank of India (RBI) is set to conduct a 7-day Variable Rate Reverse Repo (VRRR) auction worth Rs 1 lakh crore to absorb surplus liquidity from the banking system.
- About VRRR: VRRR is a monetary policy tool used by the RBI to absorb excess liquidity through auctions
- TREPS is an electronic trading platform in India that facilitates collateralized short-term borrowing and lending between banks
- It comprises two main rates: the Repo Rate (upper bound)—the rate at which banks borrow from the RBI
- It is influenced by monetary policy, interest rates, repo/reverse repo operations, and government spending.
Show 2 more facts
- Variable Rate Repo (VRR): A VRR is a type of repo (repurchase agreement) transaction where the interest rate is determined through an auction process
- It is a 12-member body including the Governor of RBI and is reconstituted every year.
Which of the following statements about VRRR Auction to Absorb Excess Liquidity is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
Liquidity Adjustment Facility
The Reserve Bank of India (RBI) injected Rs 72,860.7 crore of liquidity into the banking system in October 2022.
- It is the central bank's intervention in the foreign exchange market to curb volatility in the rupee.
- On a given day, if the banking system is a net borrower from the RBI under Liquidity Adjustment Facility (LAF), the system liquidity is said to be in
- A LAF is a monetary policy tool used in India by the RBI through which it injects or absorbs liquidity into or from the banking system.
- It was introduced as a part of the outcome of the Narasimham Committee on Banking Sector Reforms of 1998.
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- LAF has two components – repo (repurchase agreement) and reverse repo
- It can manage inflation in the economy by increasing and reducing the money supply.
- LAF is used to aid banks in resolving any short-term cash shortages during periods of economic instability or from any other form of stress caused by
- The facilities are implemented on a day-to-day basis as banks
- The primary objective of the RBI's monetary policy is to maintain price stability while keeping in mind the objective of growth
- Expansionary monetary policy, or easy monetary policy, is when a central bank uses its tools to stimulate the economy
Which of the following statements about Liquidity Adjustment Facility is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
RBI Holds Repo Rate and Lowers GDP Growth Forecast
In its June 2026 review, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) unanimously voted to keep the policy repo rate unchanged.
- Standing Deposit Facility (SDF) Rate: Unchanged at 5.00% (acting as the floor of the LAF corridor).
- Marginal Standing Facility (MSF) Rate: Maintained at 5.50% (acting as the ceiling of the LAF corridor).
- Geopolitical and Input Cost Shocks: Lingering international conflicts have pushed Indian basket crude oil prices to an average of USD 110/barrel
- LTCG Tax Waiver: The Government of India has waived the 12.5% Long-Term Capital Gains (LTCG) tax
Show 4 more facts
- This exact parity is also extended to individual Persons Resident Outside India (PROIs) under modified FEMA regulations.
- It is a 12-member body including the Governor of RBI and is reconstituted every year.
- The effect of devaluation of a currency is that it necessarily
- increases the foreign value of domestic currency
With reference to RBI Holds Repo Rate and Lowers GDP Growth Forecast, consider the following statements:
- Standing Deposit Facility (SDF) Rate: Unchanged at 2.0% (acting as the floor of the LAF corridor)
- Marginal Standing Facility (MSF) Rate: Maintained at 5.50% (acting as the ceiling of the LAF corridor)
Which of the statements given above is/are correct?
Correct. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source.
Not quite. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source. The green option is the correct one.
Economy
Government Securities
The government has completed Government Securities (G-Sec) borrowing for the current fiscal 2023-24 and it expects a dividend from the Reserve Bank of India (RBI) in Financial Year 25 (FR 25), similar to FY 24.
- The government's approach to borrowing remains cautious, focusing on prudent fiscal management and ensuring borrowing aligns with the actual needs.
- The RBI transfers its surplus to the government in accordance with Section 47 (Allocation of Surplus Profits) of the Reserve Bank of India Act, 1934
- On the expenditure side, the RBI incurs costs such as printing of currency notes, payment of interest on deposits and borrowings, salaries
- About: A G-Sec is a tradable instrument issued by the Central Government or the State Governments.
Show 6 more facts
- A G-Sec is a type of debt instrument issued by the government to borrow money from the public to finance its Fiscal Deficit
- Such securities are short-term (usually called treasury bills
- Gilt-edged securities are high-grade investment bonds offered by governments and large corporations as a means of borrowing funds.
- Treasury Bills (T-bills): Treasury bills are zero coupon securities and pay no interest
- In 2010, the Government of India, in consultation
- Dated G-Secs are securities that carry a fixed or floating coupon rate (interest rate) which is paid on the face value, on a half-yearly basis
Which of the following statements about Government Securities is correct?
Correct. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute.
Not quite. The three wrong options each change one thing from the source: a figure, the institution involved, the direction of change, or a qualifier turned into an absolute. The green option is the correct one.
Economy
Northeast India’s Largest Thermal Power Project
Recently, the Assam Chief Minister laid the foundation stone for the Northeast's largest power project at Chapar, Dhubri district.
- Once completed, it will become the largest power project in Northeast India by installed capacity, surpassing the 2,000 MW Subansiri Lower
- About: The project is a 3,200 MW Ultra-Supercritical Thermal Power Plant being developed by Adani Power Ltd. with an investment of ₹48,000 crore
- Technology: The project will use ultra-supercritical technology
- Energy Significance: The plant aims to provide reliable and affordable electricity for households, industries and businesses
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- Economic Impact: The project is expected to generate employment opportunities and promote local industries, contractors and suppliers
With reference to Northeast India’s Largest Thermal Power Project, consider the following statements:
- Once completed, it will become the largest power project in Northeast India by installed capacity, surpassing the 2,000 MW Subansiri Lower
- About: The project is a 3,200 MW Ultra-Supercritical Thermal Power Plant being developed by Adani Power Ltd. with an investment of ₹96,000 crore
Which of the statements given above is/are correct?
Correct. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source.
Not quite. Check each statement on its own before looking at the options. One of the two alters a figure, an institution or the direction of change stated in the source. The green option is the correct one.
Indian Polity MCQ Quiz · भारतीय राजव्यवस्था प्रश्नोत्तरी
A second members-only subject quiz – lock in today's study session
Current affairs alone will not clear Prelims. Close the day on the static syllabus with this members-only quiz.
