MCQs - 2026-08

The Monetary Policy Committee (MPC) is responsible for setting the policy repo rate in India.

The primary mandate of the RBI's monetary policy is to control inflation and maintain price stability while keeping in mind the objective of growth.

The RBI's Monetary Policy Committee (MPC) in its August 2026 review kept the repo rate unchanged at 6.50%.

A persistent challenge in climate finance cooperation is the ongoing debate regarding the total amount of funding required, how it should be mobilized, and how the burden of financial contributions should be equitably shared among developed nations, as well as the transparency and accessibility for developing nations.

The Paris Agreement, adopted in 2015, includes provisions for developed countries to provide financial resources to assist developing countries with both mitigation and adaptation efforts, making it central to discussions on climate finance.

Climate finance refers to local, national, or transnational financing—drawn from public, private, and alternative sources—that seeks to support mitigation and adaptation actions to address climate change.

The G7 comprises Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Russia was part of the G8 but was suspended in 2014.

The topic explicitly states that the G7 Summit 2026 is set to prioritize Global Economic Stability and Climate Action.

The G7 presidency rotates annually among its member states. Following the established rotation (Japan 2023, Italy 2024, Canada 2025), France is expected to host the G7 Summit in 2026.

The Ministry of Jal Shakti is the nodal ministry responsible for overseeing and implementing the Swachh Bharat Mission, which encompasses both rural and urban sanitation and water-related issues.