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MCQs 2026

41.
The RBI's focus on interoperability is expected to contribute to:
A Reduced competition among payment providers
B Increased friction in payment transactions
C Further boosting digital payment adoption and formalization of the economy
D A decline in innovation in the payment sector
42.
What is a key benefit for consumers due to enhanced interoperability of payment systems?
A Limited choice of payment platforms
B Increased reliance on cash
C Greater convenience and choice in transferring funds
D Higher transaction fees
43.
The new RBI guidelines emphasize extending interoperability to:
A Only UPI and mobile wallets
B A wider range of payment services, including card networks
C Only traditional banking channels
D Cross-border payments exclusively
44.
Which regulatory body in India has issued new guidelines to enhance the interoperability of payment systems?
A National Payments Corporation of India (NPCI)
B Ministry of Finance
C Reserve Bank of India (RBI)
D Securities and Exchange Board of India (SEBI)
45.
What does interoperability in payment systems refer to?
A The ability of a single payment system to handle multiple currencies
B The ability of different payment systems to work together seamlessly
C The speed at which transactions are processed
D The security measures employed by payment platforms
46.
The FI-Index provides a composite measure of various dimensions of financial inclusion, including:
A Access to financial services, quality of financial services, and financial literacy
B Stock market performance and currency exchange rates
C Government debt levels and fiscal deficit
D Inflation rates and interest rate trends
47.
What is a significant economic benefit of enhanced financial inclusion?
A Increased reliance on informal credit sources
B Reduced economic empowerment of individuals
C Greater economic empowerment and reduced poverty
D Hindrance to savings and investment
48.
Which of the following is NOT a key driver of the growth in India's FI-Index?
A Expansion of the banking network
B Increased adoption of digital payment systems
C Growth in informal lending practices
D Enhanced access to credit
49.
The latest FI-Index, released on April 1, 2026, reflects progress up to which period?
A December 2024
B March 2025
C December 2025
D June 2026
50.
Which institution is responsible for developing and releasing the Financial Inclusion Index (FI-Index) in India?
A National Bank for Agriculture and Rural Development (NABARD)
B Securities and Exchange Board of India (SEBI)
C Reserve Bank of India (RBI)
D Ministry of Finance