NABARD Weekly Current Affairs Quiz: 31 August – 6 September 2026

The arithmetic is easy to hold if the launch date is remembered: India Post Payments Bank was launched on 1 September 2018, so the same date in 2026 completes nine years of working.

The scheme was designed to speed up agricultural development in districts identified on three counts: low agricultural productivity, low cropping intensity and low disbursement of agricultural credit.

That is the figure twenty IFSC Banking Units had sanctioned under the Reserve Bank's special swap facility for FCNR(B) deposits as on 31 August 2026, and about USD 52.82 billion of it had already been disbursed.

The backgrounder names it as the implementing agency, supported by coordination at the national, state and district levels through an Inter-Ministerial Committee, a National Level Coordination Committee, and State and District Cooperative Development Committees.

The release describes it as a launch for merchants, designed to simplify and strengthen the acceptance of everyday digital payments at their end.

The average score of the 100 districts across the six objectives of the scheme stood at 22.54 in April 2026 and reached 38.85 in July 2026.

The release describes IFSCA as the unified regulatory authority set up by the Government of India under an Act of Parliament for the development and regulation of financial products, financial services and financial institutions in India's International Financial Services Centres.

The backgrounder reports that as of July 2026 godown construction had been completed in that many PACS across the country, creating more than 1.80 lakh metric tonnes of storage capacity.

The release gives this as the pan-India customer base as on 31 March 2026, and adds two shares worth remembering: 77 per cent of these customers are in rural areas and 49 per cent are women.

The correct answer is 36 schemes of 11 ministries and departments, working along with state schemes and participation from the private sector.

Indian banks raised that amount through bond listings on IFSC exchanges over the five months from April to August 2026.

The Plan uses NABARD's special refinance facility to lighten the burden on participating cooperatives, and when that is combined with the 3 per cent interest subvention available under the Agriculture Infrastructure Fund, the effective loan interest rate for a PACS comes down to 1 per cent.

India Post Payments Bank has been established under the Department of Posts, which sits in that ministry, and the entire equity of the bank is owned by the Government of India.

The correct answer is 11 October 2025, the day the Prime Minister formally launched the scheme.

He is quoted in the release saying that the rapid scale-up of banking activity at GIFT-IFSC shows the depth and growing international orientation of India's International Financial Services Centre, and that the centre is serving as an effective bridge between global pools of capital and India's financing needs.