GOVERNMENT / POLITY
Policies, Rules & Regulations
Parliamentary Committee Advocates Appointment of Polar Ambassador to Strengthen Indian Diplomacy in Polar Regions
The Parliamentary Standing Committee on External Affairs recommended establishing a designated 'Polar Ambassador' position to expand Indian diplomatic engagement across Arctic and Antarctic governance.
The panel urged the Indian Government to pursue full member status in the Arctic Council, where India currently maintains observer nation status without voting rights.
As an observer, India is permitted to attend Council proceedings but cannot exercise decision-making rights, contribute directly to primary operational funds, or independently execute research projects.
The Arctic Council operates on a consensus model among 8 core member states, with its chairmanship rotating every two years among member foreign ministers.
Exam Perspective: India was granted observer status to the Arctic Council in 2013; acquiring full membership would allow India direct influence over polar resource policy and strategic climate research.
The panel urged the Indian Government to pursue full member status in the Arctic Council, where India currently maintains observer nation status without voting rights.
As an observer, India is permitted to attend Council proceedings but cannot exercise decision-making rights, contribute directly to primary operational funds, or independently execute research projects.
The Arctic Council operates on a consensus model among 8 core member states, with its chairmanship rotating every two years among member foreign ministers.
Exam Perspective: India was granted observer status to the Arctic Council in 2013; acquiring full membership would allow India direct influence over polar resource policy and strategic climate research.
Key Facts / Static GK
Arctic Council Establishment: 1996 (Ottawa Declaration)
Arctic Council Observer Countries: 13 countries (including India)
India's Arctic Station: Himadri (Ny-Ålesund, Norway)
Arctic Council Observer Countries: 13 countries (including India)
India's Arctic Station: Himadri (Ny-Ålesund, Norway)
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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