BANKING & FINANCE
Banking Affairs
New Income Tax Office Complex 'Aayakar Sindhu' Dedicated to Nation in Mumbai
Union Finance and Corporate Affairs Minister Nirmala Sitharaman formally inaugurated 'Aayakar Sindhu', the new regional headquarters complex of the Income Tax Department located at Nariman Point, Mumbai.
The dedicated facility was unveiled on the commemorative occasion of Kargil Vijay Diwas (July 26th).
Constructed by the Central Public Works Department (CPWD), the facility was designed to integrate modern technology, citizen-centric service desks, and enhanced administrative operations.
The term 'Aayakar Sindhu' symbolizes the flow of public tax revenues into the Consolidated Fund of India for national infrastructure and development.
Exam Perspective: The project emphasizes the government's drive to upgrade public sector infrastructure and streamline tax compliance administration.
The dedicated facility was unveiled on the commemorative occasion of Kargil Vijay Diwas (July 26th).
Constructed by the Central Public Works Department (CPWD), the facility was designed to integrate modern technology, citizen-centric service desks, and enhanced administrative operations.
The term 'Aayakar Sindhu' symbolizes the flow of public tax revenues into the Consolidated Fund of India for national infrastructure and development.
Exam Perspective: The project emphasizes the government's drive to upgrade public sector infrastructure and streamline tax compliance administration.
Key Facts / Static GK
CPWD Established: 1854
Consolidated Fund of India Article: Article 266(1) of the Indian Constitution
Consolidated Fund of India Article: Article 266(1) of the Indian Constitution
Practice Quiz — 5 August 2026
Q1. Which of the following statements regarding the RBI's updated Bulk Deposit Interest Rate Directions 2026 is/are correct?
Answer: (B) Both statements I and II are correct — Statement I: The framework allows differential rates on bulk deposits based on LCR run-off rates from October 1, 2026. Statement II: Commercial banks and SFBs share a bulk deposit threshold of ₹3 crore, while RRBs have a threshold of ₹1 crore.
Q2. Under the revised CGSMFI 2.0 guidelines, what is the mandatory minimum combined allocation percentage of guarantee cover reserved for small and medium MFIs?
Answer: (C) 15% — Banks must now allocate at least 15% of the total guarantee cover under CGSMFI 2.0 to small and medium-sized MFIs, replacing the previous segregated structure of 5% and 10%.
Q3. Which agency constructed the new Income Tax Department office complex 'Aayakar Sindhu' inaugurated in Mumbai?
Answer: (B) Central Public Works Department (CPWD) — The 'Aayakar Sindhu' office complex in Nariman Point, Mumbai, was constructed by the Central Public Works Department (CPWD).
Q4. Which Non-Banking Financial Company (NBFC) has partnered with Flipkart as the principal lending partner for 'Flipkart Pay Later'?
Answer: (B) PayU Finance — PayU Finance, the NBFC arm of PayU, serves as the primary licensed lender for the Flipkart Pay Later digital credit solution.
Q5. Which founding document led to the formal establishment of the Arctic Council in 1996?
Answer: (B) Ottawa Declaration — The Arctic Council was officially established in 1996 through the adoption of the Ottawa Declaration.
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