MCQs 2026

The RBI issued the 'Cyber Security Framework for Banks' to establish a robust cybersecurity posture for regulated entities, outlining various measures and controls.

The RBI's focus on cybersecurity is crucial to protect the integrity, confidentiality, and availability of banking services and data, thereby ensuring financial stability and resilience against cyber threats.

The framework mandates that loan disbursement and repayment must be executed directly between the borrower's bank account and the Regulated Entity, without any pass-through to LSPs.

The framework clarifies that digital lending can be carried out by entities regulated by the RBI (REs) and Lending Service Providers (LSPs) engaged by REs, but the ultimate responsibility lies with the REs.

The framework aims to protect consumers from predatory lending practices, ensure fair and transparent operations, and promote responsible conduct in the digital lending ecosystem.

The scheme covers commercial banks, urban cooperative banks, and NBFCs that are regulated by RBI. Stock broking firms are regulated by SEBI, not RBI.

The Integrated Ombudsman Scheme operates on the 'One Nation One Ombudsman' approach, making it easier for customers to file complaints from anywhere and against any regulated entity.

The RBI launched the 'RBI - Integrated Ombudsman Scheme, 2021' to integrate the existing three ombudsman schemes (Banking, Non-Banking Financial Company, and Digital Transactions).

PMAY-G focuses on rural housing and does not include provisions for subsidized loans for purchasing land in urban areas.

The unit assistance provided under PMAY-G is ₹1.30 lakh, which includes ₹0.90 lakh from the Central Government and ₹0.40 lakh from the State Government.