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Correct Answer : Option (B) - Rs 87,416 Crore
The Reserve Bank of India (RBI) has approved the transfer of Rs 87,416 crore surplus to the government for the financial year 2022-23. * This amount is nearly three times higher than the previous year’s transfer of Rs 30,307 crore. The surge in surplus is attributed to increased income from the sale of foreign exchange reserves. * Despite facing challenges such as rising yields on US treasuries, the RBI’s surplus transfer is expected to provide a significant boost to the government’s revenue.* Economists have pointed out that the major driver behind the bumper surplus transfer is the gains from record gross foreign exchange sales in the fiscal year 2022-23. * The RBI’s sales of foreign exchange reserves, estimated to be around $206 million until February 2023, significantly contributed to the increased surplus. * However, the profits were partially offset by higher provisioning on mark-to-market losses on foreign securities. Additionally, the higher contingency buffer of 6 percent, compared to 5.5 percent in the past, also impacted the profit margin.Offsetting Revenue Losses and Budget Expectations : The surplus transfer of Rs 87,416 crore from the RBI to the central government is expected to bring in additional revenue of around 0.2 percent of GDP. This infusion of funds could help partially offset possible revenue losses due to lower tax revenues and divestment. The surplus amount aligns with the expectations set by the Union Budget, which estimated a surplus of Rs 48,000 crore from the central bank, public sector banks, and financial institutions for the current year.Impact of Global and Domestic Economic Situation : During its meeting, the RBI’s board reviewed the global and domestic economic situation, including the influence of current geopolitical developments. The central bank acknowledged the associated challenges and deliberated on its performance during the accounting year 2022-23. The approval of the Annual Report and accounts of the RBI for this period reflects the board’s confidence in the bank’s operations. Furthermore, the decision to maintain the contingency risk buffer at 6 percent demonstrates the RBI’s commitment to prudential financial management.
Correct Answer : Lakshya Sen
* Lakshya Sen, the 23-year-old Indian badminton star from Almora, clinched third place at the King Cup International Badminton Open in Bangkok. * He defeated French rising star Alex Lanier in the bronze-medal playoff with a convincing scoreline of 21-17, 21-11. * This achievement highlights Lakshya’s consistent performance and resilience on the international stage despite narrowly missing out in the semifinals.
Correct Answer : Jasprit Bumrah
* Jasprit Bumrah made history as the fastest Indian bowler to reach 200 wickets in Test cricket, achieving this milestone in just 44 Tests. * He surpassed the previous record held by Mohammed Shami. Bumrah's exceptional performance, including a standout display in the Boxing Day Test against Australia, helped him achieve this feat with remarkable efficiency. His average of 19.56 made him the first bowler to reach 200 wickets with a sub-20 average, further cementing his place among the best Test bowlers globally.
Correct Answer : 6.5-6.8%
* Deloitte forecasts the Indian economy to grow at 6.5-6.8% in FY25, driven by strong domestic consumption, infrastructure development, and digitisation efforts. * While challenges such as geopolitical tensions and global liquidity constraints may pose risks, India’s resilience in services, manufacturing exports, and stable capital markets provides a solid foundation for sustained economic growth.
