16 September 2026 — Current Affairs Quiz

Explanation

Former IRDAI Chairman Debasish Panda, speaking to PTI in October 2022, called Bima Sugam the UPI moment for the insurance industry. It is a one-stop digital marketplace for buying insurance, policy servicing and claim settlement, run by the Bima Sugam India Federation (BSIF). Its website went live in September 2025; Chairman Ajay Seth says motor, health and term products will go live by September-end 2026. Exam angle: it is part of the Bima Trinity, with Bima Vistaar and Bima Vahaak.

Explanation

India's gross GST collection rose 14.8% year-on-year to Rs 1,99,853 crore in August 2026, up from Rs 1,74,116 crore in August 2025. Domestic revenue grew 9.3% to Rs 1,37,249 crore, while revenue from imports rose 29% to Rs 62,604 crore. Refunds jumped 67.9% to Rs 31,795 crore, so net GST collection grew 8.3% to Rs 1,68,057 crore. Cumulative gross collection for April-August 2026 rose 11% to Rs 10,42,757 crore. Exam angle: the gap between gross and net growth is a likely question.