MCQs - 2026-05

The Repo Rate, Reverse Repo Rate, and Bank Rate are key policy rates announced by the RBI. The Prime Lending Rate is determined by individual banks based on their cost of funds and market conditions.

The RBI Act mandates the MPC to set the policy repo rate to achieve the primary objective of price stability while ensuring that the objective of growth is not neglected.

Open Market Operations (OMO) involve the buying and selling of government securities by the RBI to inject or absorb liquidity from the banking system, directly influencing interest rates and inflation.

The UN Security Council has 5 permanent members (China, France, Russia, UK, USA) and 10 non-permanent members.

The UN Security Council frequently discusses the Sahel due to the proliferation of armed groups, terrorism, and political instability in the region.

The Sahel is the ecoclimatic and biogeographic zone of transition in Africa between the Sahara to the north and the Sudanian savanna to the south.

The G7 was formed in 1975 as a forum for the world's leading industrialized democracies to discuss economic issues.

G7 leaders focus on 'de-risking' and diversifying supply chains to ensure economic stability against geopolitical shocks.

The G7 consists of Canada, France, Germany, Italy, Japan, the UK, and the USA. India is invited as a guest but is not a member.

The bill directly supports the goal of digital inclusion by ensuring that all citizens can participate in the digital economy and access essential online services.