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MCQs - 2026-03

201.
The rapid growth of which sector has prompted these new regulations?
A Traditional banking.
B Digital lending.
C Insurance.
D Stock markets.
202.
Non-compliance with these guidelines will result in:
A A warning letter from the RBI.
B Significant penalties.
C A temporary suspension of internet access.
D No consequences.
203.
What potential issue are the new guidelines trying to prevent?
A Undercharging of interest rates.
B Predatory lending practices and data misuse.
C Excessive competition among lenders.
D Slow processing of loan applications.
204.
The RBI has emphasized the need for enhanced due diligence on:
A The RBI's own internal processes.
B Borrowers.
C Competitor lending platforms.
D Technology providers only.
205.
What is a requirement for digital lending platforms regarding customer complaints?
A To ignore all customer complaints.
B To have a robust grievance redressal mechanism and appoint a nodal officer.
C To outsource complaint handling to third-party agencies without oversight.
D To respond to complaints only after a year.
206.
The new guidelines impose stricter norms on:
A Marketing strategies of lending platforms.
B Outsourcing of critical functions by lending platforms.
C Customer service hours.
D The design of loan application forms.
207.
What is prohibited under the new guidelines concerning credit limits?
A Automatic increase in credit limits without explicit customer consent.
B Manual reduction of credit limits.
C Customer-initiated increase in credit limits.
D Temporary suspension of credit limits.
208.
Which of the following is a key provision of the new guidelines regarding loan costs?
A Disclosure of only the principal amount.
B Mandatory disclosure of all-inclusive costs of loans.
C No disclosure of loan costs is required.
D Disclosure of costs only upon repayment.
209.
When will the new RBI guidelines for digital lending platforms come into effect?
A April 1, 2026
B January 1, 2027
C July 1, 2026
D October 1, 2026
210.
What is the primary goal of the RBI's new guidelines for digital lending platforms?
A To increase the number of digital lending platforms.
B To enhance consumer protection and ensure fair lending practices.
C To reduce the interest rates charged by all lenders.
D To promote the use of traditional banking methods.