MCQs 2026

The new digital lending guidelines emphasize transparency. Lenders must clearly disclose the all-in-cost of the loan, including all fees and charges, to the borrower before the loan is disbursed. This is often referred to as the Annual Percentage Rate (APR) or a similar comprehensive disclosure.

The Reserve Bank of India (RBI) has been at the forefront of regulating digital lending in India. It issued comprehensive guidelines in 2024, with further clarifications and implementation phases continuing, to enhance transparency and customer protection in digital lending.

The RBI's mandate is to maintain price stability while keeping in mind the objective of growth. The August 2026 policy statement reiterates this by aiming to ensure inflation aligns with the target while supporting economic growth.

The Monetary Policy Committee (MPC) is responsible for setting the policy repo rate in India. The MPC met in August 2026 and decided to keep the repo rate unchanged.

In its August 2026 Monetary Policy Committee meeting, the RBI decided to keep the policy repo rate unchanged at 6.50%. This decision was taken to ensure inflation progressively aligns with the target while supporting growth.

The Pradhan Mantri Awas Yojana - Gramin (PMAY-G) is implemented by the Ministry of Rural Development. The Ministry of Housing and Urban Affairs implements PMAY-Urban.

Under PMAY-G, the cost of assistance is shared between the Central and State Governments in the ratio of 60:40 in plain areas. For North Eastern States, Himalayan States, and the Union Territory of Jammu & Kashmir, the ratio is 90:10.

The Pradhan Mantri Awas Yojana - Gramin (PMAY-G) aims to provide financial assistance to eligible rural households for the construction of pucca houses with basic amenities, ensuring 'Housing for All' in rural areas.

NEEDS_REVIEW

NEEDS_REVIEW