Statement–Assumption — DMRC chairman: “We are in talks with the Japanese Bank for International Cooperation (JBIC) for the second tranche of Rs 1,600 crore.” Assumptions: I) DMRC has already received the first tranche of the JBIC loan. II) Talks for receiving the first tranche of the JBIC loan have been finalised. Choose the implicit assumption(s).

Introduction / Context:
The statement mentions negotiations for a “second tranche” of funding from JBIC. In statement–assumption questions, we test what must be taken for granted for the statement to be meaningful, not what may merely be true in the world.

Given Data / Assumptions:

• Second tranche ordinarily follows a first tranche in the same facility.
• “In talks” indicates an ongoing discussion specific to tranche two.
• Receiving money and finalising talks are distinct events.

Concept / Approach:
To talk about a “second tranche,” the existence or conclusion of arrangements for a first tranche must already be in place; otherwise numbering tranches is meaningless. However, actual disbursal of the first tranche is not strictly required for negotiations on a subsequent tranche to begin.

Step-by-Step Solution:

Verification / Alternative check:
Large project loans are commonly structured in multiple tranches where later tranches are negotiated once the initial facility is in place, even if not fully drawn.

Why Other Options Are Wrong:
“Only I” over-assumes disbursal; “Both” adds an unnecessary condition; “Neither” ignores the tranche structure logic.

Common Pitfalls:
Confusing loan negotiation milestones with cash receipt.

Final Answer:
Only assumption II is implicit.