RBI Current Affairs Quiz: 29 October 2026

MoSPI compiles and publishes the Index of Services Production, and it released the figures for August 2026 covering 19 broad sub-sectors on the base year 2024-25.

The Commerce and Industry Minister said the nine free trade and bilateral agreements concluded by the government have opened preferential market opportunities in economies whose combined output comes to that figure.

The Finance Ministry's clarification explains that DIPAM has no internal procedure for the situation in which the highest financial bid comes in below the reserve price, and that the Cabinet Committee on Economic Affairs, in its meeting of 16 August 2017, approved a note on the procedure and mechanism for…

Every reading in the Index of Services Production is measured against output in that base year, so a sub-sector standing above the base-year level has grown since then and one standing below it has not recovered to where it was.

Piyush Goyal said India's space economy was valued at USD 8.4 billion at the time of his address and had the potential to reach USD 44 billion by that year, a prospect he linked to the opening of the space sector to private participation.

The clarification notes that IDBI was a government owned banking company until that year and became a government controlled banking company once LIC acquired majority stakes in it.

The correct answer is retail trade, which expanded faster than any other sub-sector over August 2025 and also carried the second highest index reading in the series.

The Minister said that green and renewable sources now make up that share of India's installed electricity capacity, while adding that coal remains necessary for energy security and for keeping power affordable.

The asset valuer added value for the disputed tax demands, and those demands were indemnified because the qualified bidders had asked for it in common, the purpose being to nudge the offer upwards.

Air transport was the weakest of the 19 sub-sectors in August 2026 on both measures that the index offers: it contracted 9.6 per cent against August 2025, and its reading was the only one in the whole series below the level of the base year 2024-25.

Recalling a conversation with the German Foreign Minister about the migration agreement between India and Germany, Piyush Goyal said the arrangement carries a requirement of 90,000 Indians a year, and that he was told Germany in fact needed substantially more Indian talent than that.