Union Cabinet Clears ₹37,500 Crore Scheme to Boost Coal Gasification

1. Which category of banks is primarily involved in the revised operating framework for cross-border outward remittances as per the recent RBI notification?

Explanation: The RBI issued a revised operating framework for cross-border outward remittances specifically through Authorised Dealer (AD) Category-I banks.

2. According to the SEBI proposal on intraday borrowing for mutual funds, who is responsible for bearing the cost of such borrowing?

Explanation: As per the SEBI proposal, the borrowing cost for intraday credit must be paid by the Asset Management Company (AMC), ensuring that investors are not burdened with the expense.

3. Consider the following statements regarding the Coal Gasification Promotion Scheme: 1. The total financial outlay is ₹37,500 crore. 2. Incentive support is provided for up to 50% of plant costs. 3. Syngas is the primary product of the gasification process. Which of the statements is/are correct?

Explanation: Statement 1 is correct (Total outlay is ₹37,500 crore). Statement 2 is incorrect as the incentive support is up to 20% (not 50%). Statement 3 is correct (Coal gasification converts coal into Syngas).

4. Which bank holds the distinction of being the first Taiwanese financial institution to establish a branch in GIFT City, Gujarat?

Explanation: CTBC Bank became the first Taiwanese bank to establish a branch in Gujarat International Finance Tec-City (GIFT City).

5. What is the primary technical advantage of the 'Pathfinder' satellite compared to traditional imaging satellites?

Explanation: Unlike traditional satellites that send raw data to ground stations, Pathfinder processes data directly in space using onboard AI models, improving efficiency.