Now Reading: Quiz tests knowledge of CIC, black mass and chip policy
-
01
Quiz tests knowledge of CIC, black mass and chip policy
The Story in Brief
UPSC Essentials has published its weekly economy quiz for 12 November 2026, testing aspirants on currency in circulation (CIC), lithium-ion battery black mass, and India’s solar manufacturing capacity.
The quiz clarifies that a low CIC-to-GDP ratio reflects a shift to digital payments and formal finance, while a high ratio shows heavy cash reliance. It also notes that the government banned the export of lithium-ion battery black mass on 10 November, adding to a Rs 2,814 crore scheme for critical mineral processing. One question asks about India’s lack of domestic ingot and wafer capacity for solar cells, a gap filled by imports from China.
The answers are provided after each question, making the quiz a revision tool for static economy syllabus topics.
Indian Opinion Analysis
The quiz tests whether readers can distinguish a high CIC-to-GDP ratio from a low one, because statement 1 reverses the textbook relationship. It also verifies knowledge of India's recently announced export ban on black mass, a policy move that directly affects battery recyclers and the critical mineral supply chain. A reader who gets these right would know that a lower cash ratio signals financial formalisation, not the other way round, and that the DGFT's prohibition on black mass export, complementing the Rs 2,814 crore processing scheme, is now in force. The quiz leaves open whether India's domestic ingot and wafer capacity will meet its solar cell needs, a gap the government has yet to close.
Source: indianexpress.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
