Consider the following statements regarding the Goods and Services Tax (GST) Council:1.It is a statutory body established under the provisions of the Reserve Bank of India Act.2.Its recommendations require a three-fourths weighted majority of members present and voting.Which of the statements given above is/are correct?
UPSC · current affairs quiz
Daily news quiz · 9 October 2026
Prelims-style MCQs from the 9 October 2026 daily news summary. Choose an option to see if you are right — two questions on each topic.
In the context of indirect taxation and compliance, what does the term 'Compounding of Offences' signify?
Consider the following statements regarding migration management and recruitment in India:1.The e-Migrate system links recruitment agencies, employers, and Indian missions abroad to verify employment contracts.2.The Emigration Check Required (ECR) category applies exclusively to citizens holding postgraduate degrees seeking overseas employment.
Which of the following best describes 'Unregistered Agents' in the context of the Draft Overseas Mobility Bill?
Consider the following statements regarding pharmaceutical pricing regulation in India:1.The National Pharmaceutical Pricing Authority (NPPA) functions as an attached office of the Ministry of Health and Family Welfare.2.The government is preparing to cap trade margins on non-scheduled anti-cancer medications at 30% of the Maximum Retail Price (MRP).Which of the statements given above is/are correct?
What is the primary objective of 'Trade Margin Rationalisation' (TMR) in the pharmaceutical sector?
Consider the following statements regarding microfinance guidelines in India:1.The Reserve Bank of India (RBI) defines microfinance loans as collateral-free loans extended to households with annual income up to Rs 3 lakh.2.The Bharat Microfinance Report 2026 urged Microfinance Institutions to integrate climate risk factors into rural credit underwriting decisions.Which of the statements given above is/are correct?
In the context of financial lending and credit delivery, what is meant by 'Underwriting'?
Consider the following statements regarding the State Level Bankers' Committee (SLBC):1.SLBC is chaired by the Union Minister of Finance.2.SLBCs have been mandated to report Scheduled Caste (SC) beneficiary data under central credit and entrepreneurship schemes.
What is the core function of the 'Lead Bank Scheme' established under RBI guidelines?
Consider the following statements regarding the e-Way bill system under GST:1.e-Way bills are exclusively required for international shipments and are exempt from intra-state transport.2.The GST Council functions as a constitutional joint forum under Article 279A.Which of the statements given above is/are correct?
What is the primary function of an e-Way Bill under the GST law?