The correct answer is (D) Rishikesh

The Uttarakhand Livability Improvement Project, funded by a $200 million loan from the Asian Development Bank (ADB), focuses on improving infrastructure in five cities: Haldwani, Champawat, Kichha, Kotdwar, and Vikasnagar. The project aims to enhance urban livability by upgrading roads, traffic management, flood management, and water supply systems. Rishikesh is not included in this project. This initiative aligns with India’s commitment to improve urban infrastructure, especially in ecologically sensitive regions like Uttarakhand, ensuring sustainable development and better quality of life for residents.

The correct answer is (B) To drive economic growth and improve incomes in the fisheries sector

The Tuna Cluster in the Andaman and Nicobar Islands, established under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), aims to boost the fisheries sector, drive economic growth, and increase incomes for local stakeholders. The region’s vast Exclusive Economic Zone (EEZ) has untapped marine resources, particularly tuna, that offer significant commercial value. This cluster will focus on infrastructure for processing, export, and partnerships with tuna-fishing nations. By capitalizing on the potential of the Andaman and Nicobar Islands, the initiative strengthens India’s position in the global seafood market.

The correct answer is (B) Settling forex transactions and cross-border payments

Vostro accounts allow foreign banks to hold funds in the Indian banking system, facilitating cross-border payments and forex transactions. The Reserve Bank of India (RBI) is considering expanding the scope of rupee vostro accounts to support cross-border lending, capital account transactions, and loans to NRIs. This move is part of India’s push to internationalize the rupee, increasing its role in global finance. Currently, Special Rupee Vostro Accounts (SRVAs) are operational with a few countries, including Russia, Sri Lanka, and the Maldives.

The correct answer is (C) Japan and the USA

Japan and the USA are the largest shareholders in the Asian Development Bank (ADB), each holding a 15.6% share as of 2023. Headquartered in Manila, Philippines, ADB was established in 1966 to support social and economic development in Asia and the Pacific. The institution provides loans, technical assistance, and investments to member countries for sustainable development. India, a founding member, has a 6.3% share in ADB, which has become a significant partner in supporting India’s infrastructure and economic initiatives.

The correct answer is (C) To internationalize the rupee and integrate it into global finance

The Reserve Bank of India (RBI) is working on a framework to broaden the use of rupee vostro accounts, aiming to internationalize the rupee. By allowing foreign institutions to use rupee holdings for activities such as NRI lending and cross-border transactions, India seeks to increase the rupee’s role in global finance. This move aligns with India’s objective to reduce dependency on foreign currencies and establish the rupee as a prominent currency in international trade, enhancing India’s financial influence globally.

The correct answer is (A) Bluefin

Tuna species dominate the global fish market due to their high commercial value, with major species including skipjack, yellowfin, bigeye, and albacore. Bluefin tuna, particularly valued in gourmet markets, is also part of this group. Known for their extensive migratory patterns, tuna travel long distances across oceans, making them essential to both ecological and economic systems. The establishment of the Tuna Cluster in the Andaman and Nicobar Islands aims to leverage these valuable resources for India’s economic growth, especially in the fisheries sector.

The correct answer is (C) Fisheries development and welfare of fish farmers

The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a flagship scheme for the sustainable development of India’s fisheries sector and the welfare of fish farmers. The establishment of the Tuna Cluster in the Andaman and Nicobar Islands under PMMSY aligns with its goals by leveraging the region’s rich marine resources, particularly tuna, to boost India’s position in global seafood markets. The scheme’s objectives include increasing fish production, creating employment, and enhancing income for fishers, promoting holistic development in fisheries and allied sectors.