MCQs - 2026-05

The Regulated Entity (RE) must ensure that a standardized Key Fact Statement (KFS) is provided to the borrower before the execution of the loan contract.

The regulations aim to curb unethical recovery practices, data privacy issues, and lack of transparency in digital lending.

RBI mandates that all loan repayments must be executed directly between the borrower's bank account and the Regulated Entity (RE) without passing through the DLA's pool account.

The decision aims to anchor inflation expectations while ensuring that liquidity conditions remain conducive to economic growth.

The Monetary Policy Committee (MPC) is a statutory body under the RBI Act, 1934, tasked with fixing the benchmark policy interest rate.

The RBI has maintained the repo rate at 6.50% to balance economic growth and inflation control.

Initially, PMAY-G aimed to achieve 'Housing for All' by 2022. However, the scheme has been extended, and the revised target for completion of houses is March 2024.

The unit assistance under PMAY-G has been enhanced to Rs. 1.20 lakh in plain areas and Rs. 1.30 lakh in hilly states, difficult areas, and IAP districts.

The main objective of PMAY-G is to provide a pucca house with basic amenities to all houseless households and those living in kutcha and dilapidated houses in rural areas by 2024.

The ASHA program was launched under the National Rural Health Mission (NRHM), which is now a sub-mission of the National Health Mission (NHM). ASHAs play a crucial role in community health outreach.