Current Affairs Quiz — 10 October 2026
Economy
Q1. Under the special foreign exchange facility announced by the Reserve Bank of India in October 2026, the RBI will undertake the sale of USD through designated banks to which entities?
Show answer
Answer: A. public sector OMCs
The Reserve Bank of India established a dedicated foreign exchange window to provide US dollars to major state-run oil marketing companies to ease currency volatility. This helps meet the daily dollar demands of IOCL, HPCL, and BPCL directly.
“Under the facility, the Reserve Bank will undertake sale of USD to the public sector OMCs through designated bank/s.”
Source: RBI announces special window for Public Sector Oil Marketing Companies to meet dollar requirements ↗Economy
Q2. According to the regulatory measures announced by the Reserve Bank of India, what is the reduced threshold across all Authorised Dealers for undertaking foreign exchange derivative transactions without establishing the existence of underlying exposure?
Show answer
Answer: A. USD 5 million equivalent
The RBI significantly curtailed the limit from USD 100 million to tighten risk management and enhance market discipline in foreign exchange derivatives. It aims to prevent speculative positions and ensure underlying exposures exist for large currency derivative trades.
“The existing threshold of USD 100 million equivalent for undertaking foreign exchange derivative transactions to hedge contracted exposures without establishing the existence of the underlying exposure has been reduced to USD 5 million equivalent, across all Authorised Dealers.”
Source: RBI Announces Regulatory Measures for the Foreign Exchange Market ↗Economy
Q3. Since which year has the Reserve Bank of India been conducting the Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector on a quarterly basis?
Show answer
Answer: C. 2008
The OBICUS captures essential high-frequency indicators such as new orders, inventories, and capacity utilisation from manufacturing companies. These indicators provide critical inputs for assessing economic health and guiding monetary policy decisions.
“The Reserve Bank has been conducting the Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector on a quarterly basis since 2008.”
Source: RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: July – September 2026 (Round 75) ↗Economy
Q4. According to the Banking Laws (Amendment) Act, 2025, how has the definition of 'fortnight' been revised for scheduled commercial bank reporting?
Show answer
Answer: C. 15th and last calendar day of a month
Historically, scheduled commercial banks reported fortnightly data to the Reserve Bank of India on alternate Fridays. Under the Banking Laws (Amendment) Act, 2025, the reporting fortnight was shifted to fixed dates—the 15th and the last calendar day of each month—effective December 15, 2025.
“As per the Banking Laws (Amendment) Act, 2025, the definition of fortnight has been revised from alternate Fridays to 15th and last calendar day of a month, w.e.f. December 15, 2025.”
Source: Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract ↗Economy
Q5. Under the recruitment notification issued by the Railway Recruitment Cell (North Western Railway) under the Apprentices Act 1961, what is the maximum age limit for applicants?
Show answer
Answer: D. 24 years
The Apprentices Act 1961 governs apprentice training in establishments, and North Western Railway issued an engagement notification specifying 24 years as the upper age limit.
“The maximum age limit is 24 years.”
Source: Engagement of Apprentices 2026 Notification – NWR ↗Schemes
Q6. Which entity under the Department of Fertilizers, Ministry of Chemicals and Fertilizers, launched the ICRO Amrit Internship Programme?
Show answer
Answer: C. IPL Centre for Rural Outreach
The ICRO Amrit Internship Programme aims to build rural entrepreneurship and vocational skills among youth, placing them at NPC/IPL offices with a monthly stipend.
“The ICRO Amrit Internship Programme, launched by the IPL Centre for Rural Outreach under the Department of Fertilizers, Ministry of Chemicals and Fertilizers, aims to boost youth productivity through vocational training and awareness of agricultural productivity.”
Source: ICRO Amrit Internship Programme ↗Schemes
Q7. What is the monthly token remuneration provided to PhD students under the Internship Scheme of the Department of Economic Affairs (IS-DEA)?
Show answer
Answer: B. ₹20,000 per month
The Department of Economic Affairs offers this internship scheme to familiarize post-graduate and PhD students from top-ranked institutions with macroeconomic policy formulation.
“Token remuneration of ₹20,000 per month for PhD students Logistics support: office space and computer with internet facility Certificate of Internship issued on satisfactory completion of not less than three months and submission of report/paper/feedback Outstanding candidates pursuing Post Graduation or PhD in Economics/Law/Finance/Management From universities/institutions within the top 25 ranks as per NIRF or QS‑ranked international institutes”
Source: Internship Scheme Of The Department Of Economic Affairs ↗Schemes
Q8. In which year did the Ministry of External Affairs launch the first edition of its Internship Programme?
Show answer
Answer: C. 2022
The MEA Internship Programme seeks to bring Indian foreign policy closer to the public and offer diverse students exposure to the ministry's functioning.
“The Ministry of External Affairs of the Govt. of India launched the first edition of its Internship Programme in 2022.”
Source: Internship Programme By The Ministry Of External Affairs ↗Schemes
Q9. Which organization implements the NSFDC Internship Scheme 2024 under the Ministry of Social Justice and Empowerment?
Show answer
Answer: A. National Scheduled Castes Finance & Development Corporation
The NSFDC Internship Scheme provides practical work experience within a CPSE focused on socio-economic development initiatives for scheduled caste communities.
“The NSFDC Internship Scheme 2024 is implemented by the National Scheduled Castes Finance & Development Corporation, Ministry of Social Justice & Empowerment, Government of India.”
Source: The NSFDC Internship Scheme ↗Schemes
Q10. What is the maximum number of interns selected per year under the National Renewable Energy Internship Scheme (NREIS)?
Show answer
Answer: C. 20 interns per year
The National Renewable Energy Internship Scheme by MNRE provides exposure to renewable energy policies and projects, offering a ₹15,000 monthly stipend for physical internships.
“Internships last between two and six months, with a maximum of 20 interns per year, offered twice a year based on MNRE requirement.”
Source: National Renewable Energy Internship Scheme ↗