MCQs - 2026-05

The RBI tightened norms to address issues like predatory lending, lack of transparency, data privacy breaches, and high-interest rates charged by some digital lenders, thereby safeguarding borrowers.

The RBI mandated that loan disbursements and repayments must be executed directly between the Regulated Entity's bank account and the borrower's bank account, without any pass-through/pool account of the Lending Service Provider (LSP) or any third party. This ensures transparency and accountability.

The G7 has been actively working on the 'Hiroshima AI Process' to develop international guiding principles for generative AI.

Economic resilience in G7 discussions emphasizes de-risking supply chains and reducing over-reliance on specific countries for critical goods.

Russia was suspended from the G8 in 2014, reverting the group to the G7.

The current structure is often criticized for being unrepresentative of the modern geopolitical reality, particularly the lack of representation from Africa, Latin America, and parts of Asia.

The Intergovernmental Negotiations (IGN) framework is the formal process used by the UN General Assembly to discuss Security Council reform.

The G4 nations support each other's bids for permanent seats on the UN Security Council.

The ruling sets guidelines and strengthens legal frameworks that apply to any entity, whether governmental or private, that collects, processes, or stores personal data.

The Supreme Court has consistently recognized the Right to Privacy as a fundamental right, and this ruling further solidified its application in the context of digital data.