Current Affairs & MCQs
Latest Questions, Daily Updates & More

MCQs - 2026-03

3021.
The overarching goal of these new RBI norms is to:
A Restrict all forms of digital lending.
B Foster a responsible and ethical digital lending ecosystem.
C Increase the risk for financial institutions.
D Encourage unregulated lending activities.
3022.
In addition to operational metrics, what else are digital lending platforms now required to report to the RBI?
A Employee personal information.
B Competitor analysis reports.
C Significant financial metrics.
D Marketing campaign performance.
3023.
What is now a requirement for digital lending platforms regarding customer grievances?
A To ignore customer complaints.
B To have a robust grievance redressal mechanism.
C To outsource grievance redressal to untrusted entities.
D To delay responses to complaints.
3024.
What practice are the stricter rules regarding loan recovery aimed at curbing?
A Ethical and transparent collection methods.
B Aggressive or unethical collection methods.
C Offering flexible repayment options.
D Providing post-loan support.
3025.
Which of the following is a new stipulation for loan service providers (LSPs) under the revised norms?
A Onboarding borrowers without KYC verification.
B Obtaining necessary regulatory approvals and verifying KYC details.
C Sharing borrower data freely with unauthorized entities.
D Charging hidden fees without disclosure.
3026.
What is the 'Key Fact Statement' (KFS) intended to do?
A To confuse borrowers about loan terms.
B To provide borrowers with details of loan eligibility.
C To detail all terms and conditions of a loan before disbursement.
D To outline the marketing strategy of the lender.
3027.
What is required before digital lenders can share borrower data with third parties?
A Implicit consent from the borrower.
B Notification to regulatory bodies only.
C Explicit consent from the borrower.
D Sharing data without any consent.
3028.
According to the new guidelines, what must digital lending platforms do regarding loan pricing?
A Keep loan pricing opaque to avoid competition.
B Disclose all charges, fees, and interest rates upfront.
C Increase interest rates without prior notice.
D Hide additional charges until loan repayment.
3029.
What is the primary reason cited for the RBI's stricter norms on digital lending platforms?
A To encourage aggressive lending practices.
B To reduce the availability of loans.
C To safeguard borrowers and ensure fair lending practices.
D To promote unchecked data sharing.
3030.
What regulatory body announced stricter norms for digital lending platforms on March 27, 2026?
A Securities and Exchange Board of India (SEBI)
B Ministry of Finance
C Reserve Bank of India (RBI)
D National Payments Corporation of India (NPCI)