2026 Current Affairs practice question for Railways, SSC, UPSC. Select an option to check your answer, read the explanation and continue practicing.
Consider the following statements regarding the Financial Services Annex of the India-New Zealand Free Trade Agreement: 1. India and New Zealand concluded negotiations on the Financial Services Annex on 22 December 2025. 2. The Annex contains 18 articles. 3. It covers areas such as payments, fintech, data protection and financial service operations. 4. It provides for cooperation on electronic and real-time payment systems. 5. It supports interoperability with UPI and National Payments Corporation of India systems. Which of the statements given above are correct?
Correct Answerसही उत्तर
D. 1, 2, 3, 4 and 5D. 1, 2, 3, 4 और 5
Explanationव्याख्या
All five statements are correct according to the February 2026 Current Affairs source.
India and New Zealand concluded negotiations on the Financial Services Annex of their Free Trade Agreement on 22 December 2025.
This is important because financial services are increasingly becoming an essential component of modern trade agreements.
The Annex contains 18 articles and goes beyond conventional GATS commitments.
Its coverage includes payments, financial technology or fintech, protection of data and various aspects of financial-service operations.
One particularly significant feature is cooperation between India and New Zealand in electronic and real-time payment systems.
Such cooperation can facilitate cross-border remittances and merchant payments.
The source specifically mentions interoperability with India's Unified Payments Interface, commonly known as UPI, and systems associated with the National Payments Corporation of India or NPCI.
Another major component concerns fintech and regulatory innovation.
The two countries are expected to cooperate through Regulatory and Digital Sandboxes, which can provide controlled environments for testing innovative financial products and technologies.
The Annex also addresses the sensitive issue of financial information.
It seeks to protect data sovereignty and consumer privacy while permitting cross-border transfer of financial information under regulatory control.
Market access is another important dimension.
The source states that the framework supports non-discriminatory market access, back-office and financial services, higher FDI and permission for up to 15 bank branches in New Zealand over four years.
Therefore, the Annex combines digital payments, fintech innovation, privacy, investment and market-access provisions, making all five statements in the question correct.
सभी पाँच कथन सही हैं। February 2026 Current Affairs PDF के अनुसार India और New Zealand ने अपने Free Trade Agreement के Financial Services Annex पर negotiations 22 December 2025 को conclude किए। यह development महत्वपूर्ण है क्योंकि modern Free Trade Agreements अब केवल goods के import-export तक सीमित नहीं रहते, बल्कि banking, financial services, digital payments, fintech और data-related issues को भी cover करते हैं। इस Financial Services Annex में कुल 18 articles हैं और source के अनुसार यह traditional GATS commitments से आगे जाता है। इसमें payments, fintech, data protection और financial service operations जैसे महत्वपूर्ण विषय शामिल किए गए हैं। इसका एक अत्यंत महत्वपूर्ण पहलू electronic तथा real-time payment systems में cooperation है। इससे दोनों देशों के बीच cross-border remittances और merchant payments को आसान बनाने की संभावना है। विशेष रूप से UPI तथा National Payments Corporation of India यानी NPCI systems के साथ interoperability का उल्लेख किया गया है। Fintech और regulatory innovation के क्षेत्र में Regulatory और Digital Sandboxes पर cooperation का प्रावधान भी महत्वपूर्ण है। Sandbox mechanism innovative financial technologies को controlled environment में test करने में सहायता कर सकता है। Annex data sovereignty और consumer privacy की सुरक्षा पर भी जोर देता है, हालांकि regulatory control के अंतर्गत financial information के cross-border transfer की अनुमति दी जा सकती है। Market access के संदर्भ में non-discriminatory access, back-office services, higher FDI तथा New Zealand में चार वर्षों में अधिकतम 15 bank branches खोलने की अनुमति जैसे provisions भी बताए गए हैं। इसलिए statements 1, 2, 3, 4 और 5 सभी सही हैं।
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