UPSC current affairs quiz, 14 October 2026

With reference to the IMF's World Economic Outlook of October 2026, consider the following statements:
1. It projects India's GDP growth at 7% for 2026-27.
2. It projects India's CPI inflation for 2026-27 below the RBI's target of 4%.
3. It projects emerging market and developing economies to grow faster in 2026 than in 2025.
How many of the statements given above are correct?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements about the IMF's October 2026 World Economic Outlook:
1. It projects world growth to be higher in 2027 than in 2026.
2. It projects advanced economies to grow faster than emerging market and developing economies in 2026.
3. It projects global inflation to be lower in 2027 than in 2026.
How many of the statements given above are correct?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements:
Statement-I: The IMF expects India's current account deficit to widen in 2026-27.
Statement-II: The IMF assumes crude oil prices in 2026 will be about 41% higher than in 2025.
Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II does not explain Statement-I
3. Statement-I is correct but Statement-II is incorrect
4. Statement-I is incorrect but Statement-II is correct

Consider the following statements about India's flexible inflation targeting framework:
1. The inflation target is set by the Monetary Policy Committee of the RBI.
2. The target is based on the Consumer Price Index.
3. The tolerance band around the 4% target is 2% to 6%.
4. The target was first notified in 2016.
How many of the statements given above are correct?

1. Only one
2. Only two
3. Only three
4. All four

With reference to the balance of payments, which of the following are part of the current account?
1. Trade in goods
2. Trade in services
3. Remittances from workers abroad
Select the correct answer using the code given below.

1. 1 only
2. 1 and 2 only
3. 2 and 3 only
4. 1, 2 and 3

The IMF says India's growth upgrade reflects "growing evidence of stronger growth potential". Potential growth refers to:

1. The highest growth an economy has ever recorded
2. The growth rate an economy can sustain over time without pushing up inflation
3. The growth rate targeted in the Union Budget
4. Growth measured at purchasing power parity

Consider the following statements about BIMSTEC:
1. It was set up through the Bangkok Declaration of 1997.
2. Its permanent secretariat is in Kathmandu.
3. Its Charter was adopted at the Colombo Summit in 2022.
Which of the statements given above is/are correct?

1. 1 only
2. 1 and 3 only
3. 2 and 3 only
4. 1, 2 and 3

Consider the following instruments:
1. A Plan of Action on Illicit Financial Flows
2. A Plan of Action on Drug Control
3. An extradition convention
How many of the above were approved at the first BIMSTEC Home Ministers' meeting?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements:
Statement-I: India hosted the first meeting of BIMSTEC Home Ministers.
Statement-II: India leads BIMSTEC's Security pillar, which includes counter-terrorism and transnational crime.
Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II does not explain Statement-I
3. Statement-I is correct but Statement-II is incorrect
4. Statement-I is incorrect but Statement-II is correct

Arrange the following members in the order in which they joined BIMSTEC (earliest first):
1. Myanmar
2. Thailand
3. Bhutan
Select the correct answer using the code given below.

1. 1-2-3
2. 2-1-3
3. 2-3-1
4. 3-1-2

Consider the following statements about BIMSTEC summits:
1. The 2008 Summit was held in New Delhi.
2. The 2022 Summit in Colombo adopted the Charter.
3. The Sixth Summit was held in Bangkok in April 2025.
4. The 2018 Summit was held in Dhaka.
How many of the statements given above are correct?

1. Only one
2. Only two
3. Only three
4. All four

Which BIMSTEC member leads the 'Connectivity' pillar?

1. India
2. Bangladesh
3. Thailand
4. Sri Lanka

With reference to the resignation of a member of a State Legislative Assembly, consider the following statements:
1. A member resigns by writing under his hand addressed to the Speaker.
2. The Speaker must not accept the resignation if satisfied that it is not voluntary or genuine.
3. Once a resignation is accepted, pending disqualification proceedings under the Tenth Schedule automatically lapse.
Which of the statements given above is/are correct?

1. 1 only
2. 1 and 2 only
3. 2 and 3 only
4. 1, 2 and 3

Under the Tenth Schedule, which of the following can lead to the disqualification of a member of a State Legislative Assembly?
1. Voluntarily giving up membership of the political party
2. Voting contrary to the party's direction in the House
3. A merger of the party supported by two-thirds of its legislators
How many of the above are grounds for disqualification?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements:
Statement-I: A legislator who resigns can still face disqualification proceedings for acts done before resigning.
Statement-II: The Supreme Court has held that the taint of disqualification does not vanish when a member tenders a resignation.
Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II does not explain Statement-I
3. Statement-I is correct but Statement-II is incorrect
4. Statement-I is incorrect but Statement-II is correct

Consider the following statements:
1. The 91st Amendment omitted the exception for a split by one-third of a legislature party.
2. A disqualified defector is barred from contesting by-elections until the end of the House's term.
3. Kihoto Hollohan (1992) struck down the bar on judicial review in paragraph 7 of the Tenth Schedule.
4. The Tenth Schedule was added by the 42nd Amendment.
How many of the statements given above are correct?

1. Only one
2. Only two
3. Only three
4. All four

In the Madras High Court's ruling of October 2026, what is the Speaker required to check before accepting a resignation?

1. The member's reasons for leaving the party
2. Whether the party has consented to the resignation
3. Whether a by-election can be held within six months
4. Whether the resignation is voluntary and genuine

With reference to the Tamil Nadu confidence vote of 13 May 2026, consider the following statements:
1. TVK had won a majority on its own in the Assembly election.
2. 25 AIADMK MLAs voted for the TVK government.
Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

With reference to the UPI merchant discount rate (MDR) framework of 2026, consider the following statements:
1. MDR is charged to the customer making the payment.
2. Person-to-person UPI transfers are exempt from MDR.
3. Merchant payments of ₹2,000 or less attract zero MDR.
How many of the statements given above are correct?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements about the National Payments Corporation of India (NPCI):
1. It is a not-for-profit company.
2. It was set up as a joint initiative of the RBI and the Indian Banks' Association.
3. It operates RuPay and IMPS in addition to UPI.
How many of the statements given above are correct?

1. Only one
2. Only two
3. All three
4. None

Consider the following statements:
Statement-I: Merchants have not been charged MDR on UPI payments since 1 January 2020.
Statement-II: Section 10A of the Payment and Settlement Systems Act, 2007 bars banks and system providers from levying MDR on prescribed electronic payment modes.
Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II does not explain Statement-I
3. Statement-I is correct but Statement-II is incorrect
4. Statement-I is incorrect but Statement-II is correct

Under the 2026 UPI MDR framework, how much MDR would a merchant (not a small merchant) pay on an eligible UPI payment of ₹1,00,000?

1. ₹0
2. ₹5
3. ₹300
4. ₹400

Consider the following UPI payments:
1. A ₹5,000 transfer from one friend to another
2. A ₹1,500 payment at a large retail store
3. A ₹10,000 payment at a large retail store
4. A ₹1,800 payment at a small merchant receiving ₹50,000 a month through UPI
How many of the above would attract a 0.4% MDR under the 2026 framework?

1. Only one
2. Only two
3. Only three
4. All four

Which of the following best describes the merchant discount rate?

1. A tax levied by the government on digital transactions
2. A fee charged to the merchant for accepting a digital payment
3. An interest rate paid by the RBI on bank deposits
4. A surcharge added to the customer's bill for card payments