Daily Quiz 23 April 2026

Answer: (a)
Explanation:
Statement 1 is Incorrect: As the name “Non-Deliverable” implies, these derivatives do not involve physical delivery of the underlying currency. Instead, they are cash-settled in a freely convertible currency (usually US Dollars) based on the difference between the agreed exchange rate and the spot rate at maturity.
Statement 2 is Correct: Historically, NDD markets for the Indian Rupee (INR) have operated offshore (in hubs like Singapore, Hong Kong, and London, and through the Intercontinental Exchange (ICE)). Because these transactions happen outside Indian borders between non-residents, they traditionally fell outside the Reserve Bank of India’s (RBI) direct regulatory perimeter.
Statement 3 is Correct: Despite being offshore, the NDD market is massive and highly liquid. Large volumes in the offshore market create a spillover effect that directly influences the onshore “price discovery” of the Rupee. During times of volatility, the NDD rate often leads the domestic rate, which is why the RBI has recently allowed domestic banks to participate in this market to gain better control and narrow the gap (basis) between offshore and onshore rates.

Answer: (b)
Explanation:

• Statement 1 is Incorrect: Under the Telangana Platform-Based Gig Workers Bill, 2026, aggregator platforms are required to contribute a welfare fee based on transaction value (typically 1% to 2% per transaction), not a fixed percentage of their annual profits. While the national Code on Social Security, 2020 mentions annual turnover, this specific state bill focuses on transaction-based levies.
• Statement 2 is Correct: The Bill specifically mandates algorithmic transparency. Platforms must disclose the logic behind automated systems that determine task allocation, worker ratings, and payments to prevent bias and ensure fairness for the workers.

Statement 3 is Correct: The legislation provides a structured grievance redressal mechanism. This typically includes Internal Dispute Resolution Committees (for larger platforms) and state-appointed Grievance Redressal Officers to resolve disputes within a stipulated timeframe (usually 30 days).

Answer: (c)
Explanation:

• Statement 1 is Incorrect: The number of core LWE-affected districts has decreased significantly since 2005. At its peak in 2005, the “Red Corridor” spanned over 200 districts. By April 2026, the Ministry of Home Affairs (MHA) reported that only 2 districts (Bijapur in Chhattisgarh and West Singhbhum in Jharkhand) remain classified as “LWE Affected Districts” (the highest intensity category).
• Statement 2 is Correct: In 2024, the government replaced the old binary classification with a more nuanced three-tier framework:
  • LWE Affected Districts: Areas with active insurgency and frequent violence (e.g., Bijapur, West Singhbhum).
  • Districts of Concern: Areas where extremism is waning but still require focused resource deployment (e.g., Kanker).
  • Legacy & Thrust Districts: “Legacy” refers to districts no longer affected but needing support to prevent relapse; “Thrust” refers to districts vulnerable to potential Naxal expansion.

Statement 3 is Correct: The National Policy and Action Plan (2015) and the newer SAMADHAN doctrine both follow a multi-pronged strategy. This approach integrates aggressive security operations (e.g., building forward operating bases and neutralizing cadres) with intensive developmental initiatives, such as constructing 15,000 km of roads, improving 4G connectivity, and expanding banking and educational services in tribal regions.

Answer: (c)
Explanation:

• Statement 1 is Correct: The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (which evolved from the 2025 Bill) introduces the Creditor-Initiated Insolvency Resolution Process (CIIRP). This is a new, faster hybrid framework that allows specified financial creditors to initiate insolvency resolution outside the traditional court-driven (NCLT) process initially.
• Statement 2 is Incorrect: The CIIRP does not require 100% creditor approval. Instead, it allows specified financial creditors to initiate the process provided they have the consent of at least 51% of creditors by value of outstanding debt.

Statement 3 is Correct: A major structural reform in the 2026 amendment is the introduction of a Group Insolvency Framework (new Chapter VI-A). This provides a statutory mechanism to coordinate the insolvency proceedings of interconnected corporate groups simultaneously, rather than handling related companies through fragmented, individual legal battles.

Answer: (a)
Explanation:

• Statement 1 is Correct: Under the CBSE 2026–27 curriculum reforms, a third language (R3) is mandatory from Class 6. According to the National Curriculum Framework for School Education (NCF-SE) 2023, students must study three languages up to Class 10, of which at least two must be native Indian languages.
• Statement 2 is Incorrect: Artificial Intelligence (AI) and Computational Thinking (CT) are not restricted to the secondary level. They are being integrated as core competencies starting from Class 3 onwards from the 2026–27 session. While AI becomes a compulsory board exam subject for Class 10 by 2029, foundational modules are introduced much earlier in the middle school stages.

Statement 3 is Correct: Starting from the 2026–27 session, vocational education is mandatory for Classes 9 and 10. While initially assessed through internal school-based evaluations, it is scheduled to become a compulsory board-examined subject from the 2027–28 academic year.