MCQs 2026

The KFS is a standardized document that discloses the total cost of the loan, including the APR, to ensure transparency for borrowers.

RBI mandates that loan disbursements and repayments must be executed directly between the bank accounts of the borrower and the Regulated Entity (RE).

The Repo Rate is the rate at which the RBI lends money to commercial banks and is the primary tool for monetary policy.

The RBI maintains interest rates primarily to control inflation while supporting sustainable economic growth.

The Monetary Policy Committee (MPC) is a statutory body under the RBI Act, 1934, responsible for fixing the benchmark interest rate in India.

The financial benefit of ₹ 6,000 per annum is paid in three equal installments of ₹ 2,000 each. This means payments are made on a quarterly basis (every four months).

The financial assistance under PM-KISAN is transferred directly to the bank accounts of eligible beneficiaries through the Direct Benefit Transfer (DBT) mode, ensuring transparency and efficiency.

An agricultural household is defined as a household where at least one member is a farmer. The scheme focuses on providing financial support to such families.

The scheme is intended for landholding farmer families. Institutional landholders, serving or retired officials of Central/State Government ministries/departments, persons who have paid income tax in the last assessment year, and those receiving pensions above ₹10,000 per month are generally excluded.

Eligible farmer families receive an annual financial benefit of ₹ 6,000, which is paid in three equal installments of ₹ 2,000 each, directly into their bank accounts.