India and European Union Grant Mutual 'Most Favoured Nation' Status for 5 Years

India and the European Union (EU) have agreed to accord each other 'Most Favoured Nation' (MFN) status for a period of five years.
The agreement is part of the ongoing negotiations for a new Free Trade Agreement (FTA) between the two entities.
MFN status ensures that each trading partner treats the other as favorably as its most preferred trading partner, ensuring non-discrimination.
The 5-year clock will begin once the India-EU FTA officially comes into force.
This step is expected to significantly reduce trade barriers and enhance economic cooperation in key sectors like technology and agriculture.

Key Facts / Static GK

European Union Headquarters: Brussels, Belgium
EU Membership: 27 countries
MFN Status: A principle of the World Trade Organization (WTO) for non-discriminatory trade

Q Practice Quiz — 6 March 2026

1. What is the new deadline set by SEBI for Alternative Investment Funds (AIFs) to submit their annual reports after the end of a financial year?

A 15 days

B 30 days

C 45 days

D 60 days

E 90 days

Explanation: SEBI's revised reporting norms mandate that Alternative Investment Funds (AIFs) must submit their annual reports within 30 days after the conclusion of the financial year.

2. The 'Sudarshan' AI system launched by SEBI is primarily designed to monitor which of the following activities?

A Insider trading in the equity market

B Misleading content by unregistered finfluencers

C Daily transaction volumes of mutual funds

D Compliance of listed companies with ESG norms

E Foreign Portfolio Investor (FPI) registration flows

Explanation: Sudarshan is an AI-based monitoring system deployed by SEBI to track and identify unregistered financial advisory activities and misleading investment claims made by finfluencers.

3. Consider the following statements regarding 'Project HANUMAN' launched by the Andhra Pradesh government: 1. It aims to reduce human-wildlife conflict and enhance wildlife rehabilitation. 2. The compensation for livestock loss is provided at a fixed rate of ₹2 lakh. 3. Four specialized Wildlife Rescue & Treatment Centres (WRTC) have been identified under the project. Which of the statements given above are correct?

A Only 1

B Only 1 and 2

C Only 1 and 3

D Only 2 and 3

E 1, 2, and 3

Explanation: Statements 1 and 3 are correct. Regarding statement 2, livestock loss compensation is provided at 'market value', not a fixed rate of ₹2 lakh (which is the limit for injury compensation).

4. Which organization was responsible for developing the digital tools for India's first fully digital census (Census-2027)?

A NIC (National Informatics Centre)

B NITI Aayog

C DAC (Centre for Development of Advanced Computing)

D ISRO (Indian Space Research Organisation)

E Infosys

Explanation: The digital tools for Census-2027, including the HLBC and CMMS portals, were developed by C-DAC under the Ministry of Electronics and Information Technology (MeitY).

5. What percentage of the USD 100 million loan provided by ADB to Motilal Oswal Home Finance is specifically allocated for green-certified housing projects?

A 5%

B 10%

C 15%

D 20%

E 25%

Explanation: ADB's loan agreement with Motilal Oswal Home Finance stipulates that 10% of the funds must be allocated for environmentally sustainable and green-certified housing development.

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