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MCQs 2026

1.
The NFIM aims to equip citizens with knowledge to make informed financial decisions, thereby protecting them from:
A Excessive savings.
B Predatory lending and financial fraud.
C Low-interest savings accounts.
D Government subsidies.
2.
What is a potential socio-economic impact of the National Financial Inclusion Mission?
A Increased income inequality.
B Empowerment of individuals and small businesses, fostering economic growth.
C Reduced access to credit for the poor.
D Decreased financial literacy among citizens.
3.
Financial inclusion, as defined in the context of the NFIM, includes access to:
A Only savings accounts.
B Transactions, payments, savings, credit, and insurance.
C Only high-risk investment products.
D Only loans for luxury goods.
4.
Which of the following is a key component of the National Financial Inclusion Mission?
A Restricting access to digital payment platforms.
B Promoting financial literacy campaigns and leveraging technology for last-mile delivery.
C Discouraging the use of Business Correspondents (BCs).
D Increasing the cost of basic banking accounts.
5.
What is the primary goal of the National Financial Inclusion Mission (NFIM) launched on April 7, 2026?
A To increase the number of stock market investors.
B To accelerate financial inclusion by ensuring access to banking services for all.
C To promote the use of cryptocurrencies.
D To reduce the number of banks in operation.
6.
The RBI's review of the inflation targeting framework on April 7, 2026, considered factors such as:
A Only domestic economic indicators.
B Supply-side shocks and global inflation trends.
C The performance of individual companies.
D The impact of social media on consumer behavior.
7.
What does the reaffirmation of the inflation targeting framework by the RBI signal?
A A shift towards prioritizing growth over inflation control.
B A continued focus on price stability as a key objective.
C An intention to increase the inflation target.
D A move away from data-driven monetary policy.
8.
The primary objective of India's inflation targeting framework is to:
A Maximize economic growth at all costs.
B Maintain price stability while keeping in mind the objective of growth.
C Control the exchange rate of the Indian Rupee.
D Regulate the stock market.
9.
Which committee is responsible for reviewing and setting monetary policy in India?
A Fiscal Policy Committee
B Securities and Exchange Board of India (SEBI)
C Monetary Policy Committee (MPC)
D Reserve Bank of India Board
10.
What is the current mandated inflation target for India under the Flexible Inflation Targeting (FIT) framework?
A 2% +/- 1%
B 4% +/- 2%
C 6% +/- 3%
D 5% +/- 2%