25th May 2026

Explanation: The Bagmati River originates from the Bagdwar in the Shivapuri Hills in Nepal. The river flows through the Kathmandu Valley and is considered sacred by both Hindus and Buddhists, with several temples and religious sites along its banks. The Bagmati River eventually joins the Ganges in India. While the Bagmati River is important, it is not a significant source of irrigation for the Terai region in Nepal compared to other rivers. The main rivers for irrigation in the Terai are generally the larger ones like the Gandaki, Koshi, and Karnali.

Explanation: The Kuiper Belt is not located between Mars and Jupiter; it is situated beyond the orbit of Neptune, in the outer regions of the solar system. Unlike the asteroid belt, which is primarily composed of rocky and metallic objects, the Kuiper Belt mainly consists of icy bodies, including dwarf planets and smaller objects. The Kuiper Belt is indeed home to numerous dwarf planets, including Pluto. Pluto was once considered the ninth planet in our solar system before being reclassified as a dwarf planet. The Kuiper Belt and the Oort Cloud are two distinct regions in the outer solar system. The Kuiper Belt is closer to the sun and contains a population of icy objects, while the Oort Cloud is a much more distant and hypothetical region, primarily composed of cometary nuclei.

Explanation: Hutti Gold Mines Company Limited (HGML) is a Government of Karnataka undertaking established in 1947. It has the unique distinction of being the only producer of primary gold in the country. HGML has been active in the exploration, development, and exploitation of gold deposits occurring in Karnataka. The company's corporate office is situated in Bangalore. It currently processes the ore from the Hutti Gold mine and two satellite mines, the Uti opencast mine and the Heera-Buddinni exploratory underground mine. The Hutti mine is probably one of the most ancient metal mines in the world, dating to the Pre-Ashokan period.

Explanation: It relates to the transfer of “surplus” from the RBI to the government. What the central bank does in this case is transfer the “surplus” – that is, the excess of income over expenditure – to the government, in accordance with Section 47 (Allocation of Surplus Profits) of the Reserve Bank of India Act, 1934: “After making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation fund [and for all other matters for which] provision is to be made by or under this Act or which are usually provided for by bankers, the balance, of the profits shall be paid to the Central Government.”

Explanation: Contingency Fund of the RBI is a specific provision meant for meeting unexpected and unforeseen contingencies, including depreciation in the value of securities, risks arising out of monetary/exchange rate policy operations, systemic risks and any risk arising on account of the special responsibilities enjoined upon the Reserve Bank. This amount is retained within the RBI. The Currency and Gold Revaluation Account (CGRA) is maintained by the Reserve Bank to take care of currency risk, interest rate risk and movement in gold prices. Unrealised gains or losses on valuation of foreign currency assets (FCA) and gold are not taken to the income account but instead accounted for in the CGRA. Net balance in CGRA, therefore, varies with the size of the asset base, its valuation and movement in the exchange rate and price of gold. CGRA provides a buffer against exchange rate/ gold price fluctuations. It can come under pressure if there is an appreciation of the rupee vis-à-vis major currencies or a fall in the price of gold. The unrealised gains or losses on revaluation in foreign dated securities are recorded in the Investment Revaluation Account Foreign Securities (IRA-FS). Similarly, the unrealised gains or losses on revaluation is accounted for in Investment Revaluation Account-Rupee Securities (IRA-RS).