MCQs 2026

The RBI guidelines introduce a 'cooling-off' or 'look-up' period during which borrowers can exit the loan by paying the principal and the proportionate Annual Percentage Rate (APR) without any penalty.

The guidelines mandate that loan disbursement and repayment must be executed directly between the borrower's bank account and the Regulated Entity (RE) without any pass-through of funds through the Lending Service Provider (LSP) or any other third party.

The Complaint Management System (CMS) portal of the RBI is the single point of contact for customers to file complaints, submit documents, track status, and provide feedback.

The Integrated Ombudsman Scheme covers all commercial banks, regional rural banks, scheduled primary co-operative banks, non-banking financial companies (NBFCs) with asset size of ₹50 crore and above, and all payment system participants.

The RBI launched the Integrated Ombudsman Scheme (IOS) in November 2021, integrating the three existing Ombudsman schemes (Banking Ombudsman Scheme, Ombudsman Scheme for Non-Banking Financial Companies, and Ombudsman Scheme for Digital Transactions) into one.

The ₹6,000 annual assistance under PM-KISAN is provided in three equal installments of ₹2,000 each, every four months.

Under the PM-KISAN scheme, eligible farmer families receive an annual financial assistance of ₹6,000, which is disbursed in three equal installments of ₹2,000 each.

The PM-KISAN scheme was launched on February 24, 2019, by Prime Minister Narendra Modi from Gorakhpur, Uttar Pradesh. It was announced in the Interim Union Budget 2019.

The United Nations General Assembly (UNGA) proclaimed May 22 as the International Day for Biological Diversity to commemorate the adoption of the text of the Convention on Biological Diversity (CBD) on May 22, 1992.

The International Day for Biological Diversity aims to increase understanding and awareness of biodiversity issues, highlighting its importance for human well-being and a healthy planet.