Daily Current Affairs Quiz 8th February 2026 Check Important Questions Here

Practice Current Affairs Quiz to stay updated with national, international, economic, and banking news. This quiz is based on the previous day’s current affairs and is designed to boost your exam readiness, improve speed and accuracy, strengthen memory, and build confidence for competitive exams and interviews.

Daily Current Affairs: 8 February 2026

Q1. Under the new deposit insurance premium structure announced by the RBI in February 2026, banks will be classified into four risk categories based on financial strength and supervisory ratings. What is the premium payable by Category A banks, considered the safest institutions?
(a) 6 paise per ₹100 deposits
(b) 8 paise per ₹100 deposits
(c) 10 paise per ₹100 deposits
(d) 11 paise per ₹100 deposits
(e) 12 paise per ₹100 deposits

Answer: b

Solution:

• On 6 February 2026, the Reserve Bank of India (RBI) issued a risk-based premium framework for deposit insurance.
• The framework will be implemented by the Deposit Insurance and Credit Guarantee Corporation (DICGC) from 1 April 2026.
• Since 1962, DICGC has followed a flat premium system, where all banks paid the same premium regardless of risk.
• At present, banks pay 12 paise per ₹100 of assessable deposits under the flat-rate system.
• Under the new framework, banks will be grouped into four risk categories – A, B, C, and D.
• Premium rates will vary based on the bank’s financial strength, governance standards, and supervisory assessments.
• Category A banks (safest) will pay the lowest premium of 8 paise per ₹100 deposits, which is up to 3% lower than the existing rate.
• Category D banks (highest risk) will continue to pay the current rate of 12 paise per ₹100 deposits.
• The objective is to reward better-managed banks and encourage stronger risk management and governance practices.

Q2. India has expanded its digital diplomacy by signing MoUs with several countries for cooperation on India Stack and DPI. As of February 2026, how many countries have signed such agreements with India?

(a) 15
(b) 18
(c) 20
(d) 23
(e) 25

Answer: d

Solution:

• As of February 2026, the Government of India has signed Memorandums of Understanding (MoUs) and agreements with 23 countries for cooperation on India Stack / Digital Public Infrastructure (DPI).
• These partnerships are aimed at replicating and adopting India’s digital governance platforms across partner countries.
• The cooperation primarily focuses on key digital components such as:
  • Digital identity systems
  • Digital payment platforms
  • Data exchange frameworks
  • Public service delivery solutions
• The initiative forms part of India’s broader DPI diplomacy strategy under the India Stack framework, promoting financial inclusion and digital governance globally.
• India has also emerged as a global leader in digital infrastructure, with solutions like Aadhaar, UPI, DigiLocker, and CoWIN forming the core layers of India Stack.
• The 23 partner countries include:
  Armenia, Sierra Leone, Suriname, Antigua and Barbuda, Papua New Guinea, Trinidad and Tobago, Tanzania, Kenya, Cuba, Colombia, Laos, Saint Kitts and Nevis, Ethiopia, Jamaica, Gambia, Fiji, Guyana, Venezuela, Sri Lanka, Brazil, Lesotho, Maldives, and Mongolia.

Q3.  India U19 Team continued its dominance in youth cricket by defeating England U19 in the ICC Under-19 World Cup 2026 final. Who was awarded the Player of the Tournament?

(a) Dewan Marais
(b) Jamie Dunk
(c) Vaibhav Suryavanshi
(d) Musheer Khan
(e) Ayush Mhatre

Answer: c

Solution

• India U19 defeated England U19 by 100 runs to win the ICC Under-19 World Cup 2026.
• The final was played on 7 February 2026 at the Harare Sports Club, Zimbabwe.
• With this win, India secured their sixth U-19 World Cup title.
• India’s previous titles came in 2000, 2008, 2012, 2018, and 2022.
• Vaibhav Suryavanshi played a match-winning innings of 175 runs off 80 balls.
• India posted a massive total of 411/9 in 50 overs in the final.
• Suryavanshi was named both:
  • Player of the Match
  • Player of the Tournament
• He became the first player in U-19 World Cup history to win both awards in the same edition.
• He finished the tournament with 439 runs at a strike rate of 169.

Q4. Recently, in February, 2026, As part of the Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement) between India and US, India intends to purchase goods worth approximately how much from the United States over the next five years?
(a) $100 billion
(b) $250 billion
(c) $350 billion
(d) $400 billion
(e) $500 billion

Answer: e

Solution:

• Recently, in February, 2026, India and the United States have reached a framework for an Interim Agreement on reciprocal and mutually beneficial trade.
• The agreement supports the broader U.S.–India Bilateral Trade Agreement (BTA) negotiations launched on 13 February 2025 by President Donald Trump and Prime Minister Narendra Modi.
• The framework aims to promote balanced trade, greater market access, and resilient supply chains between the two countries.

Key Provisions of the Interim Agreement

• India will reduce or eliminate tariffs on U.S. industrial goods and several agricultural and food products such as: Dried distillers’ grains (DDGs), Red sorghum for animal feed, Tree nuts, Fresh and processed fruits, Soybean oil, Wine and spirits.
• United States will apply a reciprocal tariff of 18% on certain Indian goods, including: Textiles and apparel, Leather and footwear, Plastics and rubber products, Organic chemicals, Home décor and artisanal goods, Certain machinery.
• Subject to finalisation, the U.S. will remove tariffs on: Generic pharmaceuticals, Gems and diamonds, Aircraft parts.
• The U.S. will also remove certain tariffs on Indian aircraft and parts imposed under earlier national security provisions.
• India will receive a preferential tariff-rate quota for automotive parts under U.S. national security tariffs.

Market Access and Trade Facilitation

• Both countries will grant preferential market access in sectors of mutual interest.
• They will establish rules of origin to ensure benefits accrue mainly to the U.S. and India.
• The agreement will address non-tariff barriers affecting trade.

India’s Commitments

• Remove barriers for U.S. medical devices.
• Simplify import licensing for U.S. ICT goods.
• Review acceptance of U.S. or international standards for certain sectors within six months.
• Address long-standing barriers in U.S. food and agricultural imports.

Cooperation on Technology and Investment

• Both sides will cooperate on: Supply chain resilience, Investment reviews, Export controls, Digital trade rules.

Major Purchase Commitment

• India intends to purchase $500 billion worth of U.S. goods over the next five years, including: Energy products, Aircraft and aircraft parts, Precious metals, Technology products, Coking coal
• Both countries will expand trade in technology products, including GPUs and data-centre equipment.

Q5. Which bank became the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence through a completely digital, e-signature-based onboarding process?
(a) HDFC Bank
(b) ICICI Bank
(c) Kotak Mahindra Bank
(d) Axis Bank
(e) Yes Bank

Answer: c

Solution:

• Kotak Mahindra Bank has become the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence through a completely digital process using electronic signatures.
• The bank has successfully issued two FPI licences based entirely on digitally signed documents.
• This development marks a major step toward fully digital onboarding for overseas investors in India.
• The initiative follows the move by the Securities and Exchange Board of India (SEBI), which operationalised a unified digital workflow for FPI onboarding in January 2026.
• The digital process eliminates the need for physical paperwork and speeds up account opening for foreign investors.
• It is expected to improve ease of doing business and enhance India’s attractiveness as a destination for global investment.