BANKING & FINANCE
SEBI
RBI Grants Perpetual AD Category-II Forex Licences to Niyo Forex and GlobalPay
The Reserve Bank of India granted perpetual Authorised Dealer Category-II (AD-II) licences to Niyo Forex and GlobalPay under FEMA 2026 regulations.
The licences empower these fintech firms to execute permitted cross-border payment activities and international money transfers.
GlobalPay's approval allows inward and outward trade remittances up to ₹25 lakh alongside non-trade current account operations.
With the enhanced licence, Niyo Forex can scale its branch network without requiring incremental RBI approvals for each branch.
The licences empower these fintech firms to execute permitted cross-border payment activities and international money transfers.
GlobalPay's approval allows inward and outward trade remittances up to ₹25 lakh alongside non-trade current account operations.
With the enhanced licence, Niyo Forex can scale its branch network without requiring incremental RBI approvals for each branch.
Key Facts / Static GK
Governing Act: Foreign Exchange Management Act (FEMA)
Regulatory Body: Reserve Bank of India (RBI)
Licence Category: Authorised Dealer Category-II (AD-II)
Regulatory Body: Reserve Bank of India (RBI)
Licence Category: Authorised Dealer Category-II (AD-II)
Practice Quiz — 7 August 2026
Q1. What was the total transaction value processed by UPI in July 2026?
Answer: (D) ₹29.88 lakh crore — In July 2026, UPI set a monthly record by processing 23.66 billion transactions worth ₹29.88 lakh crore.
Q2. What is the mandatory Compressed Biogas (CBG) blending target for City Gas Distribution entities for FY 2026–27 under the GOBARdhan scheme?
Answer: (C) 3% — Under the CBG Blending Obligation (CBO), City Gas Distribution entities must achieve blending targets of 3% in FY 2026–27, 4% in FY 2027–28, and 5% from FY 2028–29 onwards.
Q3. Which division within NITI Aayog formulated the report titled 'Reimagining Care: Strategies for Empowering Caregivers in Viksit Bharat@2047'?
Answer: (B) Social Justice and Empowerment Division — The report was formulated by the Social Justice and Empowerment Division of NITI Aayog through extensive stakeholder consultations and field studies.
Q4. How much Central Assistance was released to Uttar Pradesh between FY 2019-20 and FY 2025-26 under the SC/ST atrocity prevention scheme?
Answer: (C) ₹747.17 crore — A total Central Assistance of ₹747.17 crore was released to Uttar Pradesh during the 2019-20 to 2025-26 period to strengthen enforcement mechanisms and provide victim relief.
Q5. Which of the following statements regarding the Global Biofuel Champion Fellowship (GBCF) is correct?
Answer: (C) It includes two Indian researchers, Ruchi Agrawal and Abhisek Sahoo. — The inaugural GBCF cohort selected 15 researchers globally including two Indian scholars: Ruchi Agrawal (TERI) and Abhisek Sahoo (IIT Delhi). Each fellow gets a $15,000 grant for a 2-year tenure.
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