OTHERS (MISC)
Foundations / Anniversaries
Prime Minister Participates in Somnath Amrut Parv Celebrations in Gujarat
PM Narendra Modi offered Mahapuja at the Somnath Temple to commemorate 75 years since the temple's restoration was completed.
The event, known as Somnath Amrut Parv, highlights the historical significance of the temple's reconstruction post-independence.
The modern Somnath Temple was originally inaugurated in 1951 by Dr. Rajendra Prasad, India's first President.
Located in Prabhas Patan, Veraval, the temple is one of the most sacred pilgrimage sites for Hindus and signifies India's cultural resilience.
The event, known as Somnath Amrut Parv, highlights the historical significance of the temple's reconstruction post-independence.
The modern Somnath Temple was originally inaugurated in 1951 by Dr. Rajendra Prasad, India's first President.
Located in Prabhas Patan, Veraval, the temple is one of the most sacred pilgrimage sites for Hindus and signifies India's cultural resilience.
Key Facts / Static GK
Location: Veraval, Gujarat
Inaugurated by: Rajendra Prasad (1951)
Significance: One of the 12 Jyotirlingas
Inaugurated by: Rajendra Prasad (1951)
Significance: One of the 12 Jyotirlingas
Practice Quiz — 14 May 2026
Q1. What is the primary objective of the 'GARUDA' framework proposed by SEBI?
Answer: (C) To fast-track the approval and launch process of AIF schemes — The GARUDA (Green-Channel AIF Rollout Upon Document Acknowledgement) framework is a fast-track approval mechanism intended to reduce regulatory delays and allow AIFs to launch within 10 working days instead of the current 30 days.
Q2. The RBI cancelled the license of Sarvodaya Co-operative Bank under which sections of the Banking Regulation Act, 1949?
Answer: (B) Sections 22(4) and 56 — The RBI cancelled the bank's license specifically under Sections 22(4) and 56 of the Banking Regulation Act, 1949, which deal with the licensing of banking companies and their application to co-operative societies.
Q3. Which of the following statements is true regarding the newly notified VB-G RAM G Act, 2025?
Answer: (C) It replaces the MGNREGA Act, 2005 and increases guaranteed work to 125 days. — The VB-G RAM G Act replaces MGNREGA and enhances the employment guarantee from 100 to 125 days annually.
Q4. How will the Bharat Maritime Insurance Pool (BMIP) settle claims exceeding USD 100 million?
Answer: (B) By utilizing the sovereign guarantee provided by the government — For claims up to USD 100 million, the pool uses its own resources. Claims exceeding this amount are supported by the sovereign guarantee after pool reserves and reinsurance are exhausted.
Q5. According to the Moody's May 2026 update, what is the revised GDP growth forecast for India for CY2027?
Answer: (D) 6.0% — Moody's reduced India's growth projection for CY2027 by 50 basis points to 6.0% (down from the previous forecast of 6.5%).
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