Current Affairs MCQs – September 02, 2026

Consider the following statements regarding the India Post Payments Bank (IPPB):

It is a 100% Government of India-owned public limited company under the Department of Posts, Ministry of Communications.
It is permitted to accept demand deposits up to ₹2 lakh per customer and is regulated by the Reserve Bank of India.
It can independently undertake lending activities like a universal commercial bank, subject to RBI regulations.
Payments Banks in India were conceptualised based on the recommendations of the Nachiket Mor Committee.

Which of the statements given above are correct?

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

Explanation

Statement 1 is correct

India Post Payments Bank (IPPB) is a 100% Government of India-owned public limited company functioning under the Department of Posts, Ministry of Communications. It was launched in 2018 to promote financial inclusion, particularly among unbanked and underbanked sections.

Statement 2 is correct

As a Payments Bank, IPPB can accept demand deposits up to ₹2 lakh per customer. The Reserve Bank of India (RBI) also regulates it under the regulatory framework applicable to Payments Banks. It provides services such as DBT, domestic remittances, and digital payments.

Statement 3 is incorrect

This is the key conceptual trap. Payments Banks cannot undertake lending activities. Unlike universal commercial banks, they are primarily meant to provide deposit, payment and remittance services. They can also distribute certain third-party financial products such as insurance and mutual funds, subject to applicable regulations.

Statement 4 is correct

The concept of Payments Banks was introduced following the recommendations of the Nachiket Mor Committee, which examined ways to improve access to financial services for low-income households and small businesses.

Answer: (b) 1, 2, and 4 only; Difficulty Level: Medium

Consider the following statements regarding government initiatives aimed at addressing caste-based discrimination and socio-economic exclusion:

NAMASTE seeks to eliminate hazardous manual sewer and septic-tank cleaning by promoting mechanization and providing support to sanitation workers.
Stand-Up India provides loans exclusively to Scheduled Caste and Scheduled Tribe entrepreneurs for establishing new enterprises.
PM-AJAY focuses, among other objectives, on improving infrastructure and livelihood opportunities in Scheduled Caste-dominated habitations.

Which of the statements given above are correct?

1 and 2 only
1 and 3 only
2 and 3 only
1, 2 and 3

Explanation

Statement 1 is correct

NAMASTE aims to eliminate hazardous sewer and septic-tank cleaning through mechanization and improve the safety and dignity of sanitation workers. It seeks to address the occupational hazards and social stigma associated with manual sanitation work.

Statement 2 is incorrect

Stand-Up India is not exclusively for SC/ST entrepreneurs. It facilitates bank loans between ₹10 lakh and ₹1 crore for setting up greenfield enterprises, with each bank branch expected to support at least one SC/ST borrower and at least one woman borrower. Thus, the scheme has both social inclusion and gender inclusion dimensions.

Statement 3 is correct

PM-AJAY (Pradhan Mantri Anusuchit Jaati Abhyuday Yojana) aims to improve the socio-economic conditions of Scheduled Castes through interventions including development of SC-dominated villages/habitations, infrastructure creation and livelihood-related support.

Answer: (b) 1 and 3 only; Difficulty Level: Medium

Consider the following statements regarding the Shanghai Cooperation Organisation (SCO):

The 26^th meeting of the Council of Heads of State of the SCO was held in Bishkek, Kyrgyz Republic, under the theme “25 Years of SCO: Together for Sustainable Peace, Development and Prosperity.”
The Bishkek Declaration reaffirmed the rights of Iran as a member of the Nuclear Non-Proliferation Treaty (NPT) and opposed unilateral coercive measures inconsistent with the UN and WTO frameworks.

Which of the statements given above is/are correct?

1only
2 only
Both 1 and 2
Neither 1 nor 2

Explanation

Both statements are correct

26th meeting of Council of Heads of State (CHS) of Shanghai Cooperation Organisation (SCO) was held in Bishkek, Kyrgyz Republic. It was held under motto: “25 Years of SCO: Together for Sustainable Peace, Development and Prosperity.”

Chairmanship for 2026–2027 was passed to Pakistan (Lahore received the status of SCO Tourism and Cultural Capital for 2026–2027).
28 documents , including the Bishkek Declaration, were approved during the summit.
Key Highlights of Bishkek Declaration: Approval of the SCO–CSTO–CIS Roadmap: Along with holding of the first trilateral event in this format.
- Collective Security Treaty Organization (CSTO) is a regional security alliance established in 2002 which originated under Collective Security Treaty (CST), signed in 1992 under Commonwealth of Independent States (CIS) framework.
Reaffirmed support for sovereignty and territorial integrity of Iran: US-Israel attacks on Iran violate principles and norms of international law and UN Charter.
- Backed Iran’s rights as a member of Nuclear Non-Proliferation Treaty (NPT).
Opposed Unilateral Coercive measures: That go against the rules of UN and World Trade Organization.

Answer: (c) Both 1 and 2; Difficulty Level: Medium

Which one of the following best describes the ‘Singing Revolution’?

A series of armed uprisings by Baltic nationalist groups against Soviet rule that eventually resulted in the dissolution of the Soviet Union.
A peaceful mass movement in the Baltic states that used songs, cultural expression and non-violent demonstrations to mobilise people for independence from the Soviet Union.
A Soviet-led cultural movement aimed at reviving traditional folk music and strengthening cultural integration among the Baltic states.
A pan-European movement inspired by the Baltic Way that sought to establish a common political and economic union among Estonia, Latvia and Lithuania.

Explanation

Option (b) is correct

23 August 2026 marked the 37^th anniversary of the Baltic Way, a watershed moment in the Singing Revolution.

Singing Revolution (1987–1991) was a series of peaceful musical protests that led to the independence of the three Baltic states: Estonia, Latvia, and Lithuania, from the Soviet Union.

Answer: (b) A peaceful mass movement in the Baltic states that used songs, cultural expression and non-violent demonstrations to mobilise people for independence from the Soviet Union; Difficulty Level: Medium

Consider the following statements regarding the recent status of the world’s coral reefs:

Marine heatwaves associated with human-induced climate change have emerged as the strongest global driver of coral-cover decline.
Coral bleaching occurs when corals under severe environmental stress expel their symbiotic algae, commonly known as zooxanthellae.

Which of the statements given above is/are not correct?

1 only
2 only
Both 1 and 2
Neither 1 nor 2

Explanation

Statement 1 is correct

Global Coral Reef Monitoring Network (GCRMN) published 7^th ‘Status of the World’s Coral Reefs’ report.
Global hard coral cover has declined by an estimated 9.5% compared with the 1980–2009 reference period.
Recovery periods have shortened significantly. Since 2010, major disturbances have occurred approximately every 4–6 years in many regions, compared with roughly once a decade earlier.
Marine heatwaves driven by human-induced climate change have become the strongest global driver of coral-cover decline.
In 2024, 87% of reefs experienced unprecedented heat stress, while more than 40% experienced heat stress associated with a risk of coral mortality.