United States Unveils $230 Million Support Package for India's M777A2 Howitzers

1. Under which specific developmental operation has the World Bank approved the $1.5 billion financing to boost private sector jobs in India?

Explanation: The World Bank approved $1.5 billion under the 'Boosting Job Creation in the Private Sector Development Policy Financing (DPF) Operation' to support financial and institutional reforms for jobs in India.

2. Which is the first Indian Non-Banking Financial Company (NBFC) to utilize the RBI's subsidized hedging facility for its $300 million dollar bond issuance?

Explanation: Power Finance Corporation (PFC) became the first NBFC to utilize the Reserve Bank of India's subsidized hedging facility to manage foreign currency risks for its $300 million dollar bond issuance.

3. Consider the following statements regarding the Government's stake sale in IRFC: 1. The government plans to divest up to 2% stake through an Offer for Sale (OFS). 2. The sale includes a 1% base offer and a 1% Green Shoe Option. 3. IRFC is a Maharatna PSU under the Ministry of Railways. Which of the statements given above are correct?

Explanation: Statements 1 and 2 are correct. Statement 3 is incorrect because IRFC was granted Navaratna status in March 2025, not Maharatna.

4. Which Indian fintech startup recently obtained its first international payment service license in Canada to expand its cross-border services?

Explanation: Bengaluru-based fintech startup Skydo secured an international payment license in Canada, marking its first international expansion outside India.

5. NHAI has partnered with which organization to set up India's first permanent research centre dedicated to transport and logistics economics?

Explanation: The National Highways Authority of India (NHAI) signed an MoU with the National Council of Applied Economic Research (NCAER) to establish the country's first Transport Economics Research Centre.