UPSC Prelims Practice Questions — NHAI Sponsored Public InvIT ‘Raajmarg Infra Investment Trust’ Successfully Won the Concessions of Five National Highway Assets

Q1. A Public InvIT such as the Raajmarg Infra Investment Trust is primarily registered and regulated under which one of the following?

  • A. SEBI (Infrastructure Investment Trusts) Regulations, 2014
  • B. SEBI (Real Estate Investment Trusts) Regulations, 2014
  • C. SEBI (Alternative Investment Funds) Regulations, 2012
  • D. SEBI (Mutual Funds) Regulations, 1996

Q2. With reference to the National Monetisation Pipeline and road-sector asset monetisation, which of the following statements is/are correctly identified?

  1. The roads sector under NHAI has the largest share in the National Monetisation Pipeline.
  2. Securitisation through Special Purpose Vehicles (SPVs) is a recognised mode of road-asset monetisation.
  3. Power Grid Corporation launched India's first public-sector InvIT.
  4. The National Monetisation Pipeline was formulated by the Reserve Bank of India.
  • A. 1 and 4 only
  • B. 2 and 3 only
  • C. 1, 2 and 3 only
  • D. 1, 3 and 4 only

Q3. Among the five national highway sections monetised by RIIT in its maiden concession win, which one is the longest by length?

  • A. Gorhar–Barwa Adda (Jharkhand)
  • B. Chilakaluripet–Vijayawada (Andhra Pradesh)
  • C. Neelmangla–Tumkur (Karnataka)
  • D. Chennai–Tada (Tamil Nadu)

Q4. With reference to the National Highways Authority of India (NHAI), which of the following statements is/are correctly identified?

  1. NHAI is a statutory body constituted under the National Highways Authority of India Act, 1988.
  2. NHAI functions under the Ministry of Road Transport and Highways.
  3. NHAI is responsible for the development and maintenance of national highways entrusted to it.
  4. NHAI is a constitutional body established under a Schedule to the Constitution of India.
  • A. 1 and 4 only
  • B. 2 and 4 only
  • C. 1, 2 and 3 only
  • D. 1, 3 and 4 only

Q5. With reference to the Toll-Operate-Transfer (ToT) and InvIT models of highway monetisation used by NHAI, which of the following statements is/are correctly identified?

  1. Under the ToT model, a bundle of operational highway stretches is awarded to a concessionaire for a fixed period against an upfront lump-sum payment.
  2. ToT and InvIT are both modes used by NHAI to monetise operational highway assets.
  3. In the InvIT model, units may be offered to retail investors in the case of a Public InvIT.
  4. Under the ToT model, NHAI permanently transfers the ownership of the national highway to the private concessionaire.
  • A. 1 and 4 only
  • B. 2 and 4 only
  • C. 1, 2 and 3 only
  • D. 2, 3 and 4 only

Q6. The Raajmarg Infra Investment Trust is described as the second Infrastructure Investment Trust sponsored by NHAI, the first being the National Highways Infra Trust. Counting both, how many InvITs has NHAI sponsored as of 2026?

  • A. One
  • B. Two
  • C. Three
  • D. Four

Q7. With reference to investor participation in NHAI-sponsored InvITs, which of the following statements is/are correctly identified?

  1. EPFO made its first-ever investment in an InvIT through NHAI's National Highways Infra Trust (NHIT).
  2. EPFO participated as a strategic investor in RIIT's equity issue.
  3. SBI Life Insurance participated as a strategic investor in RIIT's equity issue.
  4. Being a Public InvIT, RIIT is restricted only to qualified institutional buyers and bars retail investors.
  • A. 1 and 4 only
  • B. 2 and 4 only
  • C. 1, 2 and 3 only
  • D. 1, 3 and 4 only