MCQs 2026

RBI's strategy for financial inclusion through digital initiatives primarily involves strengthening the digital payment infrastructure, promoting digital literacy, and ensuring accessible and affordable digital financial services for all segments of the population.

Unified Payments Interface (UPI) has significantly contributed to financial inclusion by enabling instant, easy, and interoperable digital payments for a wide range of users, including those in rural and semi-urban areas, for small value transactions.

The 'cooling-off' period allows borrowers to exit the loan by paying the principal and proportionate Annual Percentage Rate (APR) without any penalty, providing them with a window to reconsider their decision.

Regulated Entities (REs) are responsible for ensuring that LSPs engaged by them adhere to fair practices, data privacy, and all other applicable regulations, as LSPs act as agents of the REs.

RBI mandates that the disbursement of loans must be made directly into the bank account of the borrower, without any pass-through to the Lending Service Provider (LSP) or any other third party.

The NIPUN Bharat Mission is implemented by the Ministry of Education under the aegis of the Centrally Sponsored Scheme of Samagra Shiksha.

The NIPUN Bharat Mission aims to ensure that every child achieves foundational literacy and numeracy by the end of Grade 3, by 2026-27, covering children in the age group of 3 to 9 years.

NIPUN stands for National Initiative for Proficiency in Reading with Understanding and Numeracy.

The scheme provides a subsidy of ₹30,000 for 1 kW, ₹60,000 for 2 kW, and up to ₹78,000 for systems above 2 kW and up to 3 kW.

The Union Cabinet has approved a total outlay of ₹75,000 crore for the PM-Surya Ghar Muft Bijli Yojana.