MCQs on Entertainment Current Affairs

2711.

The RBI's Monetary Policy Committee (MPC) reaffirmed its commitment to the current inflation targeting framework on which date?

A April 5, 2026

B April 3, 2026

C April 1, 2026

D March 30, 2026

2712.

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 exchange rates and currency fluctuations.

D Ensure low interest rates for government borrowing.

2713.

Which committee is responsible for setting the policy repo rate and managing inflation in India?

A Securities and Exchange Board of India (SEBI) Board

B Monetary Policy Committee (MPC)

C Financial Stability and Development Council (FSDC)

D Reserve Bank of India (RBI) Board

2714.

What is the current inflation target set by the Government of India in consultation with the RBI?

A 2% with a tolerance band of +/- 1%

B 4% with a tolerance band of +/- 2%

C 6% with a tolerance band of +/- 3%

D 5% with a tolerance band of +/- 2.5%

2715.

What is a significant benefit for consumers due to PPI interoperability?

A Reduced choice of payment options.

B Increased inconvenience in managing multiple wallets.

C Greater flexibility and convenience in using digital wallet balances.

D Higher transaction costs for small payments.

2716.

The RBI suggests that PPI interoperability can be enabled through:

A Creating separate payment networks for each PPI issuer.

B A common switch or by leveraging existing infrastructure like UPI.

C Requiring all users to switch to a single payment platform.

D Manual reconciliation of transactions between different PPIs.

2717.

Which of the following types of PPIs are covered by the RBI's interoperability mandate?

A Only gift cards.

B Only mobile money accounts.

C Cards and wallets.

D All types of PPIs, including closed-loop systems.

2718.

Effective from which date will the RBI's mandate for PPI interoperability come into force?

A April 1, 2026

B October 1, 2026

C January 1, 2027

D April 2, 2027

2719.

What is the primary objective of the RBI's new guidelines on Prepaid Payment Instruments (PPIs) issued on April 2, 2026?

A To restrict the use of digital wallets.

B To mandate interoperability between different PPIs and UPI.

C To increase transaction fees for digital payments.

D To limit the number of PPI issuers in the market.

2720.

Beyond simplifying transactions for travelers, the international expansion of UPI also aims to:

A Increase the reliance on traditional SWIFT systems.

B Promote UPI as a global payment standard and foster interoperability.

C Discourage cross-border digital commerce.

D Limit the adoption of digital payment systems in partner countries.

MCQs - 2026-04