Daily Current Affairs โ 11 June 2026
Daily Current Affairs ยท 11 June 2026
10 fully-analysed topics ยท 30 bilingual MCQs ยท 3 embedded videos ยท built for UPSC Prelims & Mains
๐ฏ 30 MCQs
๐ฌ 3 Videos
๐ฎ๐ณ Hindi + English
UPSC Current Affairs MCQ โ 11 June 2026
10 UPSC-standard bilingual MCQs covering today's top stories ยท 10-sec timer per question
Score yourself as you go. Get a feel for how UPSC-level questions are framed around the day's news.
Economy
M1xchange: Trade Receivables Discounting System
M1xchange is a pivotal Reserve Bank of India (RBI)-approved digital marketplace operating under the Trade Receivables Discounting System (TReDS)โฆ
- Regulatory Framework: Authorized by the RBI in 2015 and established under the Payment and Settlement System (PSS) Act, 2007.
- TReDS: An RBI-regulated electronic platform in India that enables MSMEs to get quick working capital by discounting their invoices raised on largeโฆ
- Operational Mechanism: M1xchange functions as a unified electronic platform connecting three key stakeholders: MSMEs (Suppliers)
- Risk Mitigation: Provides collateral-free, non-recourse financing, protecting MSMEs from buyer default risk
Show 6 more facts
- Competitive Discovery: Employs an open bidding model where Nationalized
- Mandatory Compliance: The Department of MSME has mandated TReDS registration for all companies with a turnover exceeding INR 250 crores and allโฆ
- Stakeholder Benefits: MSMEs: Rapid disbursement (often within 24 hours), early payment, and off-balance-sheet funding.
- Corporates: Reduced procurement costs via improved vendor negotiation.
- Financiers: Ability to seamlessly build their Priority Sector Lending (PSL) asset portfolio.
- The platform enables foreign banks and international financiers to offer working capital financing to Indian MSMEs at competitive rates
Which statement correctly describes M1xchange: Trade Receivables Discounting System?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
New Framework for Payment Systems Operators
Recently, the Reserve Bank of India (RBI) has issued a framework for payment and settlement related activities by payment system operators.
- This framework is issued under provisions of Payment and Settlement Systems Act, 2007
- A payment system is a system used to settle financial transactions through the transfer of monetary value and consist of the various mechanisms thatโฆ
- A payment system includes the participants (institutions) and the users (customers/clients)
- The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS)
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- PSOs by virtue of services they provide and the construct of models on which they operate
- It is an institution which has been granted an authorisation for the operation of a payment system.
- New Framework: Licensed non-bank Payment System Operators (PSOs), cannot outsource core management functions
- To put in place minimum standards to manage risks in outsourcing of payment and settlement-related activities including tasks such as onboardingโฆ
- There is a potential area of operational risk associated with outsourcing by payment system operators and participants of authorised payments systems
- Earlier, the RBI has put in place restrictions with respect to investments in payments system operators (PSOs) by new entities from jurisdictionsโฆ
Which statement correctly describes New Framework for Payment Systems Operators?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
Revised Priority Sector Lending Guidelines
The Reserve Bank of India (RBI) has issued revised Priority Sector Lending (PSL) guidelines under the Banking Regulation Act, 1949.
- Higher Loan Limits for Education: The RBI has increased the loan limit under PSL for education from Rs 20 lakh to Rs 25 lakh per individual.
- Renewable Energy Loans: Loan limits for renewable energy projects like solar power
- About: PSL is an RBI-mandated requirement for banks to allocate a set portion of their loans to key priority sectors that face credit shortages butโฆ
- Evolution of PSL: Gadgil Committee (1969) proposed the 'Area Approach', leading to the Lead Bank Scheme (LBS) for regional credit planning
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- PSL was formalized in 1972 based on the RBI's Informal Study Group's report (1971)
- Krishnaswamy Committee (1980) recommended a 40% PSL target by 1985, with sub-targets for agriculture and weaker sections.
- Usha Thorat Committee (2009) endorsed the continuation of the LBS for its role in the expansion of PSL.
- Consequences for Banks Missing Targets: Banks failing to meet PSL targets must contribute to the Rural Infrastructure Development Fund (RIDF) andโฆ
- Sectoral Imbalances: Banks often prefer lending to MSMEs or housing sectors within PSL as they are commercially more viable
- Studies show PSL contributes to higher defaults due to borrower vulnerability and political interference (with initiatives like loan waivers) furtherโฆ
Which statement correctly describes Revised Priority Sector Lending Guidelines?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
GIFT City as Reinsurance Hub
India's plan to turn Gujarat International Finance Tec-City (GIFT City) into a global reinsurance hub, is advancing with over 10 international insurers already set up and more in line.
- About: GIFT City, India's first International Financial Services Centre (IFSC), on the Sabarmati River in Gandhinagar, is a world-class financial andโฆ
- Designated as a non-resident zone under the Foreign Exchange Management Act, 1999 (FEMA).
- IFSC is a jurisdiction that provides onshore and offshore financial services to non-residents and residents (institutions), in a foreign currency.
- The IFSCA consolidates powers previously held by RBI
Which statement correctly describes GIFT City as Reinsurance Hub?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
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 unchangedโฆ
- Status Quo on Policy Rates: Policy Repo Rate: Retained at 5.25% under the Liquidity Adjustment Facility (LAF).
- 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/barrelโฆ
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- LTCG Tax Waiver: The Government of India has waived the 12.5% Long-Term Capital Gains (LTCG) tax and income tax on interest earned by Foreignโฆ
- This exact parity is also extended to individual Persons Resident Outside India (PROIs) under modified FEMA regulations.
- It decides the RBI's benchmark interest rates.
- It is a 12-member body including the Governor of RBI and is reconstituted every year.
- It functions under the chairmanship of the Union Finance Minister.
- Cut and optimize the Statutory Liquidity Ratio
Which statement correctly describes RBI Holds Repo Rate and Lowers GDP Growthโฆ?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
๐บ๏ธ Indian Geography MCQ Quiz ยท เคญเคพเคฐเคคเฅเคฏ เคญเฅเคเฅเคฒ
10 bilingual MCQs ยท Indian Geography ยท Members Only on YouTube
Today's rotation: Indian Geography. Take this break between news topics to sharpen the core concept.
Economy
RBIโs Monetary Policy
In the June 2025 Monetary Policy Committee (MPC) meeting
- A neutral stance gives the RBI flexibility to raise or cut rates depending on evolving inflation or growth risks
- About: Monetary policy is the process through which the RBI regulates the money supply in the economy by using various monetary instruments under itsโฆ
- Objectives: The primary objective is price stability, with inflation targeting as the primary focus
- Quantitative Tools Reserve Ratios: Cash Reserve Ratio: The percentage of a bank's Net Demand and Time Liabilities (NDTL) that must be maintained asโฆ
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- Statutory Liquidity Ratio: Banks are required to hold a fixed portion of their NDTL as liquid assets such as cash, gold, and unencumbered securities.
- Repo Rate: It is the rate at which the RBI offers overnight liquidity to banks in exchange for government and other approved securities as collateral.
- Reverse Repo Rate: It is the rate at which the RBI absorbs overnight liquidity from banks in exchange for eligible government securities asโฆ
- The bank rate is the interest rate at which the RBI lends long-term, unsecured funds to commercial banks, without collateral
- These bonds generally have a short tenure of less than six months, though the maturity period may vary as per requirements.
- Margin Requirement: It is the difference between the market value of the assets and its maximum loan value
Which statement correctly describes RBIโs Monetary Policy?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
RBI MPC Maintains Repo Rate Unchanged
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has kept the repo rate unchanged at 5.25%, reflecting a cautious approach amid global uncertainties and domestic inflation risks.
- Policy Rates (Status Quo): The policy repo rate under the Liquidity Adjustment Facility (LAF) remains unchanged at 5.25%
- However, the growth forecast for 2026-27 has been cut to 6.9% due to global financial volatility and supply shocks.
- Government initiatives targeting domestic manufacturing (Union Budget 2026-27) are expected to further support the ensuing growth trajectory.
Which statement correctly describes RBI MPC Maintains Repo Rate Unchanged?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
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.
- Liquidity in the banking system refers to readily available cash that banks need to meet short-term business and financial needs.
- 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 inโฆ
- 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.
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- It was introduced as a part of the outcome of the Narasimham Committee on Banking Sector Reforms of 1998.
- 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 byโฆ
- Various banks use eligible securities as collateral through a repo agreement and use the funds to alleviate their short-term requirements
- The facilities are implemented on a day-to-day basis as banks and other financial institutions ensure they have enough capital in the overnightโฆ
Which statement correctly describes Liquidity Adjustment Facility?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
Gross Domestic Product and Net Domestic Product
The Ministry of Statistics and Programme Implementation (MoSPI)
- Alongside, India is planning to shift from GDP to Net Domestic Product (NDP) as the primary measure of economic activity, in line with the Unitedโฆ
- The First Advance Estimates for FY 2025โ26 project a robust 7.4% real GDP growth
- India plans to transition from GDP to Net Domestic Product (NDP) in line with SNA 2025 to better capture net
- About: GDP is the total monetary value of all final goods and services produced within a country's borders during a specific period (usually a yearโฆ
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- Types of GDP: Nominal GDP: Measured at current market prices, without adjusting for inflation
- Real GDP: Adjusted for inflation using the GDP deflator. Reflects the actual quantity of goods and services produced
- Before 2015: India computed GDP with 2004โ05 as the base year, and measured GDP at factor cost, excluding indirect taxes and subsidies
- The revised GDP series will continue to follow SNA 2008, while the NDP shift aligns with SNA 2025.
- Non-adjustment for Capital Depreciation: GDP measures gross output and does not deduct depreciation of physical capital such as machinery
- Exclusion of Environmental Costs: GDP treats resource extraction and pollution-intensive activities as value addition
Which statement correctly describes Gross Domestic Product and Net Domestic Product?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Economy
Economic Threat of El Niรฑo to India
As India faces a delayed southwest monsoon and an emerging El Nio condition in the equatorial Pacific, meteorologists and historians are drawing uneasy parallels to the catastrophic Great Famine of 1876โ78.
- With the India Meteorological Department (IMD) forecasting a below-normal monsoon
- El Nio and a likely below-normal monsoon in 2026 could weaken agricultural output
- India must strengthen climate resilience through drought-resistant agriculture
- Monsoon Deficit: El Nio typically weakens the easterly trade winds
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- Crop Failures: Around half of India's net sown area is rain-fed
- Surging Input Costs: To compensate for the lack of rain, farmers are forced to extract groundwater
- Food Inflation: The prices of essential dietary staplesโsuch as cereals, vegetables, and pulses spike rapidly.
- Household Squeeze: Because food constitutes a massive portion of the Consumer Price Index (CPI) basket in India
- Productivity Tax: A vast majority of India's workforce operates in the informal sector
- According to the International Labour Organization (ILO)
5. What measures can reduce the impact of El Nio on agriculture? Key measures include drought-tolerant crops
Which statement correctly describes Economic Threat of El Niรฑo to India?
โ Correct! That fact belongs to this topic.
โ Not quite โ that fact is from another headline. The green option is right.
Simple Current Affairs MCQ โ 11 June 2026
10 accessible MCQs covering the same topics ยท great for quick revision
End your study session with these simpler MCQs to lock in recall of today's current affairs.
