MCQs - 2026-07

The expanded pilot is designed to test both wholesale (interbank) and retail (consumer) use cases of the e-Rupee, assessing its functionality and impact across different segments.

The RBI has expanded the e-Rupee pilot program to include select public sector and private sector banks, allowing for wider testing and adoption.

The 'withdrawal of accommodation' stance indicates that the MPC is focused on ensuring inflation aligns with the target, while being mindful of growth, suggesting a gradual approach rather than aggressive rate cuts or hikes.

The RBI's mandate includes maintaining price stability (controlling inflation) while keeping in mind the objective of growth, and ensuring financial stability.

The RBI's Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged at 6.50% in its October 2026 review.

The Central Government bears 100% of the cost of unskilled labour wages and 75% of the cost of material, skilled and semi-skilled wages. State Governments bear 25% of the cost of material, skilled and semi-skilled wages, making it a shared responsibility.

MGNREGA aims to enhance livelihood security in rural areas by providing at least 100 days of guaranteed wage employment and also focuses on the creation of durable assets to strengthen the livelihood resource base of the poor.

The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) guarantees 100 days of wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.

Accredited Social Health Activists (ASHA) are a crucial component of the NHM, acting as a link between the community and the public health system, especially at the village level.

NHM aims to achieve universal access to equitable, affordable, and quality healthcare services, with a focus on strengthening primary healthcare facilities and services.