Daily Current Affairs MCQs: 2026-02-07 with solutions Attempt Free MCQ

1. Compensation Cap: Rs. 25,000 per transaction for small-value digital frauds.
This pair is correctly matched. The RBI’s proposed framework does indeed set a compensation cap of Rs. 25,000 per transaction for small-value digital frauds.

2. Enhanced Authentication: Applicable to all digital transactions without exception.
This pair is incorrectly matched. The enhanced authentication measures are particularly aimed at high-risk transactions and vulnerable groups, not all digital transactions without exception.

3. Defence and Security Cooperation: Focuses on joint exercises and institutional arrangements in the Indo-Pacific region.
This pair is correctly matched. The India-EU trade agreement includes provisions for defence and security cooperation, focusing on joint exercises and institutional arrangements in the Indo-Pacific region.

4. Technology and Innovation: Limited to digital infrastructure without addressing technology standards.
This pair is incorrectly matched. The agreement covers both technology standards and digital infrastructure, aiming to enhance sovereignty and reduce vulnerabilities.

Thus, only pairs 1 and 3 are correctly matched.

1. Rat-Hole Mining Tragedy in Meghalaya - Violation of Mines and Minerals (Development and Regulation) Act, 1957: This pair is correctly matched. Rat-hole mining is illegal under the Mines and Minerals (Development and Regulation) Act, 1957, due to its hazardous nature and environmental impact.

2. National Green Tribunal (NGT) - Established by the Ministry of Coal: This pair is incorrectly matched. The National Green Tribunal (NGT) was established under the National Green Tribunal Act, 2010, and not by the Ministry of Coal. It was established by the Ministry of Environment, Forest and Climate Change to handle environmental disputes.

3. UNFCCC - Platform for International Climate Negotiations: This pair is correctly matched. The United Nations Framework Convention on Climate Change (UNFCCC) is the main international platform for climate change negotiations and agreements.

4. Article 48A of the Indian Constitution - Right to Education: This pair is incorrectly matched. Article 48A deals with the protection and improvement of the environment and safeguarding of forests and wildlife, not the Right to Education. The Right to Education is covered under Article 21A.

Thus, two pairs are correctly matched: pairs 1 and 3.

1. India's Oil Import Strategy - Complete cessation of Russian oil imports: Incorrect. The content indicates that while a reduction in Russian oil imports is likely, a complete cessation is not feasible due to various constraints, such as technical and commercial limitations.

2. RBI's Monetary Policy - Repo rate kept at 5.25%: Correct. The RBI's Monetary Policy Committee indeed decided to maintain the repo rate at 5.25%, as mentioned in the content.

3. GDP Growth Projection for FY 2026 - Revised to 7.4%: Correct. The content states that India's GDP growth projection has been revised upward to 7.4% for FY 2026.

4. Retail Inflation Forecast for FY 2026 - Updated to 5%: Incorrect. The content provides a retail inflation forecast of 2.1% for FY 2026, not 5%.

Thus, pairs 2 and 3 are correctly matched.

1. Statement 1: The statement is correct. Under the revised startup recognition framework, the turnover limit for startup recognition has indeed been increased from Rs 100 crore to Rs 200 crore for entities up to 10 years from incorporation. This change reflects the policy shift to support larger startups and provide a longer period for them to benefit from recognition.

2. Statement 2: This statement is also correct. The revised framework emphasizes that deep tech startups should have a high percentage of expenditure on Research & Development relative to their revenue or funding. This requirement underscores the focus on innovation and genuine technological advancement in the deep tech sector.

3. Statement 3: This statement is incorrect. Contrary to the statement, cooperative societies, including Multi-State Cooperative Societies and Cooperative Societies, are now eligible for startup recognition under the revised framework. This inclusion aims to foster innovation in sectors like agriculture and rural development, which were traditionally not considered under the startup umbrella.

Therefore, only statements 1 and 2 are correct, making Option B the correct answer.

The RBI's proposed framework for compensation in digital fraud cases aims to provide reimbursement of up to Rs. 25,000 to customers for losses incurred from small-value digital frauds, even in cases where user error may have contributed to the fraud. This initiative is part of the RBI's efforts to enhance customer protection in digital transactions and build trust among digital payment users.

The recent rat-hole mining tragedy in Meghalaya highlights a combination of issues including the lack of environmental sustainability, inadequate worker safety mechanisms, and regulatory compliance challenges. This incident underscores the importance of enforcing regulations to ensure both environmental protection and the safety of workers in hazardous industries.

To determine the correct statements, let's analyze each one:

1. Statement 1: "Rat-hole mining in Meghalaya is conducted in compliance with the Mines and Minerals (Development and Regulation) Act, 1957."
This statement is incorrect. Rat-hole mining is a primitive and hazardous method of coal extraction that violates the Mines and Minerals (Development and Regulation) Act, 1957. It is illegal due to its unsafe practices and environmental degradation concerns.

2. Statement 2: "The National Green Tribunal (NGT) has imposed a ban on rat-hole mining, which has been upheld by the Supreme Court."
This statement is correct. The National Green Tribunal (NGT) indeed imposed a ban on rat-hole mining due to its environmental and safety issues, and this ban has been upheld by the Supreme Court.

3. Statement 3: "The structure of rat-hole mines includes five vertical shafts leading into narrow horizontal tunnels."
This statement is correct. The description of rat-hole mining includes narrow vertical shafts leading into small horizontal tunnels, which are typical of the dangerous and confined spaces associated with this mining method.

Thus, the correct statements are 2 and 3. Therefore, the correct answer is Option D: 2 and 3 Only.

India prioritizes energy security for its 1.4 billion citizens when making decisions regarding its oil imports. This factor plays a crucial role in shaping India's oil procurement strategies, ensuring a stable and secure energy supply for its extensive population. Energy security remains a top priority for the Indian government, guided by various factors such as diversification of energy sources and international market dynamics.

To determine the correct answer, let's analyze each statement:

1. Statement 1: The proposed framework offers compensation up to Rs. 25,000 per transaction for small-value digital frauds.

- Analysis: This statement is correct. The RBI's proposed framework explicitly mentions a compensation cap of Rs. 25,000 per transaction for small-value frauds.

2. Statement 2: Compensation is only applicable if the customer reports the fraud within 24 hours.

- Analysis: This statement is incorrect. The framework does not specify a strict 24-hour reporting requirement for compensation eligibility. Instead, it focuses on covering small-value frauds and user errors, including situations where customers may have shared OTPs under coercion.

3. Statement 3: The framework includes measures to enhance authentication processes for vulnerable groups.

- Analysis: This statement is correct. The proposed framework addresses the need for enhanced authentication processes for vulnerable groups, which is part of the additional safety measures to protect users.

Thus, statements 1 and 3 are correct, making Option C: 1 and 3 Only the correct answer.

Statement-I is correct as it reflects the tragic incident that occurred in a rat-hole mine in Meghalaya, resulting in the loss of 25 lives. This incident highlights the dangers associated with illegal mining activities. However, Statement-II discusses the challenges in global climate governance, which is not directly related to the mining tragedy in Meghalaya. It addresses a different issue concerning international agreements and environmental progress.