MCQs - 2026-07

The RBI's updated guidelines stipulate that banks must resolve customer grievances within 30 days of receiving the complaint. If the bank fails to do so, the customer has the right to escalate the matter to the Banking Ombudsman.

While the RBI framework prohibits practices like charging exorbitant upfront fees, automatic credit limit increases, and unauthorized data sharing, it does not mandate or prohibit the use of specific payment gateways. Lenders have flexibility in choosing payment channels as long as they are secure and transparent.

The RBI's enhanced framework requires digital lending apps to provide a Key Fact Statement (KFS) to the borrower before the loan agreement is signed. This KFS contains all essential information about the loan, including costs, terms, and conditions.

The enhanced framework mandates lenders to disclose the all-in-cost of loans, including all fees and charges, upfront to the borrower and obtain their explicit consent before disbursing the loan. This ensures transparency and protects consumers from hidden charges.

The expansion aims to bridge the digital divide, ensuring that rural patients can store, access, and share their medical history with doctors anywhere in the country.

The National Health Authority (NHA) under the Ministry of Health and Family Welfare is the apex body responsible for implementing the ABDM.

ABHA (Ayushman Bharat Health Account) is a 14-digit unique identification number that allows citizens to access and share their health records digitally.

To ensure transparency and prevent leakages, the financial assistance under PMAY-G is transferred directly to the beneficiary's bank account via DBT.

The Ministry of Rural Development is responsible for the implementation of PMAY-G across the country.

Phase III of PMAY-G aims to address the housing needs of remaining eligible rural households by constructing 2 crore additional pucca houses.