RBI Sets Centre's Ways and Means Advances Cap at ₹50,000 Crore for H2 FY27

1. What is the Ways and Means Advances (WMA) limit set by the RBI for the Central Government for the second half of FY 2026–27?

Explanation: The Reserve Bank of India, in consultation with the Government of India, decided to fix the Ways and Means Advances (WMA) limit at ₹50,000 crore for the second half of the financial year 2026–27 (October 2026 to March 2027).

2. How much monetary penalty was imposed by the Reserve Bank of India on Hero FinCorp Limited for violating Fair Practices Code directions?

Explanation: The Reserve Bank of India imposed a monetary penalty of ₹10 lakh on Hero FinCorp Limited for non-compliance with directions regarding the Fair Practices Code for Lenders, specifically for charging excess interest.

3. Which private sector bank partnered with Apple for the launch of Apple Pay in India with its Visa and Mastercard credit cards?

Explanation: Apple Pay officially marked its launch in India starting with Axis Bank-issued Visa and Mastercard credit cards for digital payments.

4. Consider the following statements regarding the recently launched Pashudhan Bima Portal: 1. It was launched by the Department of Animal Husbandry & Dairying. 2. It integrates livestock insurance activities under the National Livestock Mission. 3. The portal is accessible only in Hindi and English. Which of the statements given above are correct?

Explanation: Statements 1 and 2 are correct. Statement 3 is incorrect because the portal is available in Hindi, English, and 11 regional languages (a total of 13 languages).

5. At which island was the 'Mission Rangeen Machhli 2031' strategic action plan for ornamental fisheries released by Vice-President C. P. Radhakrishnan?

Explanation: Vice-President C. P. Radhakrishnan released the 'Mission Rangeen Machhli 2031' Strategic Action Plan for Ornamental Fisheries Development during an outreach programme at Agatti, Lakshadweep.