Which of the following is NOT a potential benefit of a surge in retail Digital Rupee (e-Rupee) transactions?
A Reduced cost of currency management for the RBI.
B Enhanced financial inclusion.
C Increased reliance on physical cash.
D Potential for more efficient and traceable transactions.
Answer: C
A surge in e-Rupee transactions implies a move towards digital payments, which would likely lead to a decrease, not an increase, in the reliance on physical cash.
1643.
A surge in retail Digital Rupee (e-Rupee) transactions by August 2026 would most likely indicate:
A Decreased adoption of digital payment methods.
B Increased public trust and accessibility of CBDCs.
C A shift away from traditional banking services.
D Reduced government spending on digital infrastructure.
Answer: B
A surge in transactions signifies greater public acceptance, ease of use, and confidence in the Central Bank Digital Currency (CBDC), indicating successful adoption and integration into the retail payment ecosystem.
1644.
What is the primary characteristic of the retail Digital Rupee (e-Rupee) introduced by the RBI?
A It is a cryptocurrency like Bitcoin.
B It is a liability of the commercial banks.
C It is a legal tender and a liability of the central bank.
D It is backed by gold reserves.
Answer: C
The retail Digital Rupee (e-Rupee) is a digital form of the Indian Rupee, issued by the Reserve Bank of India. It is a legal tender and represents a direct liability of the central bank, unlike deposits in commercial banks.
1645.
A stable repo rate of 6.5% in August 2026, as decided by the RBI, is generally indicative of which economic scenario?
A Aggressive monetary tightening to combat high inflation
B A balanced approach between controlling inflation and supporting economic growth
C Significant monetary easing to stimulate a struggling economy
D A focus solely on currency depreciation
Answer: B
Maintaining the repo rate at 6.5% suggests that the RBI believes current economic conditions allow for a stable rate, balancing the need to keep inflation in check with the objective of fostering economic expansion.
1646.
Which committee is responsible for deciding the repo rate in India?
A Finance Commission
B Securities and Exchange Board of India (SEBI)
C Monetary Policy Committee (MPC)
D NITI Aayog
Answer: C
The Monetary Policy Committee (MPC) is mandated by the Reserve Bank of India Act, 1934, to determine the policy repo rate required to meet the inflation target while keeping in mind the objective of growth.
1647.
In its August 2026 Monetary Policy Committee (MPC) meeting, the Reserve Bank of India (RBI) decided to maintain the repo rate at what percentage?
A 6.25%
B 6.50%
C 6.75%
D 7.00%
Answer: B
The RBI's Monetary Policy Committee, in its August 2026 review, decided to keep the repo rate unchanged at 6.50%. This decision aims to balance inflation control with economic growth.
1648.
As of 2026, what is the maximum age limit for availing the overdraft facility under the PM Jan Dhan Yojana?
A 50 years
B 60 years
C 65 years
D 70 years
Answer: C
Initially, the age limit for availing the overdraft facility under PMJDY was 18-60 years. However, it was later revised to 18-65 years to expand its reach and benefits.
1649.
Which of the following is a key feature or benefit associated with a PMJDY account?
A Mandatory minimum balance requirement of Rs. 1,000
B Overdraft facility up to Rs. 10,000 (subject to eligibility)
C Unlimited free ATM withdrawals from any bank
D Free life insurance cover of Rs. 1 lakh for all account holders
Answer: B
PMJDY accounts are zero-balance accounts, meaning there is no mandatory minimum balance. They offer an overdraft facility of up to Rs. 10,000 after satisfactory operation of the account for 6 months. The accidental insurance cover is Rs. 2 lakh (for accounts opened after 28.08.2018), and a life cover of Rs. 30,000 was available for eligible beneficiaries under a specific scheme, not Rs. 1 lakh for all.
1650.
When was the Pradhan Mantri Jan Dhan Yojana (PMJDY) launched, and what was its primary objective?
A August 28, 2014; to ensure access to financial services for all households
B October 2, 2016; to promote digital payments across the country
C January 1, 2015; to provide direct benefit transfers for government schemes
D November 8, 2016; to encourage cashless transactions post-demonetization
Answer: A
The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014, with the primary objective of ensuring access to financial services, namely, Banking/Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
