26th May 2026

Explanation:

AIIB is primarily aimed to improve social and economic outcomes in Asia but it can invest in sustainable infrastructure and other productive sectors in Asia and beyond. China is the largest shareholder with 26.61% voting shares in the bank followed by India (7.6%), Russia (6.01%) and Germany (4.2%).

Explanation:

Pyrite is a naturally occurring iron disulfide mineral. It has the chemical formula FeS2 and is the most common sulfide mineral. It is a brass-yellow mineral with a bright metallic luster. The name comes from the Greek word pyr, “fire,” because pyrite emits sparks when struck by metal.

Pyrite is called fool’s gold because its colour is deceptively similar to that of gold. Nodules of pyrite have been found in prehistoric burial mounds which suggests their use as a means of producing fire.

Explanation:

The PAC is the oldest parliamentary committee in the Indian legislative affairs and has been crucial in upholding the principle of accountability as it exercises oversight of public expenditure.

The Committee on Public Accounts is constituted by Parliament each year for examination of:

• Accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India.
• The annual Finance Accounts of Government of India.
• Such other accounts laid before Parliament as the Committee may deem fit such as accounts of autonomous and semi-autonomous bodies, except those of Public Undertakings and Government Companies which come under the purview of the Committee on Public Undertakings.

The Committee on Public Accounts is the oldest Parliamentary Committee and was first constituted in 1921. The Committee consists of 22 Members; 15 Members are elected by Lok Sabha and 7 Members of the Rajya Sabha are associated with it. The Speaker is empowered to appoint the Chairman of the Committee from amongst its Members.

Explanation:

Fitted with a high-definition dual-channel seeker — an advanced guidance system using multiple sensors to accurately track both ground and aerial targets.

Equipped with a two-way data link — enabling operators to change or update the target even after the missile has been launched — a critical capability in fast-moving combat environments.

Can engage both stationary and moving targets with precision in all-weather, day-and-night conditions.

Operational Versatility:

• Can be deployed in both plains and high-altitude regions — making it suitable for diverse Indian operational theatres including the Himalayan frontier.
• Capable of engaging a wide range of targets — tanks, armoured vehicles, bunkers, fortified structures, drones, helicopters, and other airborne threats.

Three Warhead Options:

• Anti-Armour Warhead — Designed to destroy heavily protected tanks and armoured vehicles, including those fitted with Rolled Homogeneous Armour (RHA) and Explosive Reactive Armour (ERA) — special protection layers used in modern battle tanks.
• Penetration-cum-Blast Warhead — Designed to pierce and destroy bunkers and fortified structures — critical for counter-insurgency and conventional warfare against entrenched positions.
• Pre-Fragmentation Warhead — Disperses high-speed metal fragments over a large area to maximise damage — effective against personnel and light vehicles.

Production and Development Ecosystem:

• The ULPGM-V3 has been developed and produced entirely within India's defence ecosystem — a strong demonstration of Aatmanirbhar Bharat in defence.
• Nodal Development Lab — Research Centre Imarat (RCI), Hyderabad.
• UAV Integration — Currently integrated on UAVs developed by Newspace Research and Technologies, Bengaluru.
• DRDO is actively pursuing integration with long-range and high-endurance UAVs from several other Indian companies.

Explanation:

The plan for the FTP was first unveiled on June 1, 2020 and officially launched in December 2025, with island-wide special customs operations. The initiative operates on a three-tier principle — "freer access at the first line, regulated access at the second line, and free flow within the island."

Key Features:

• Zero tariffs on trade within the island — removing tariff barriers entirely for goods imported into Hainan.
• Regular customs procedures and tariffs only apply to goods entering the Chinese mainland from the island — making Hainan a neutral zone for international trade.
• Visa-free entry for citizens of 86 countries to boost tourism.
• Low personal income taxes to attract global talent and businesses.
• Simplified flow of commuters and data to ease business operations.
• Expected to save 860 million RMB in tariffs annually while creating investment opportunities for Chinese enterprises in the Global South.