MCQs - 2026-08

The guidelines emphasize that regulated entities cannot outsource their credit assessment function. They must retain full responsibility for the credit assessment of loan applicants.

The guidelines stipulate that all loan disbursals and repayments must be routed through bank accounts of the borrower and the regulated entity (RE), and not through any third-party or intermediary's account.

The new guidelines aim to protect borrowers from unfair practices, ensure transparency in digital lending, and prevent predatory lending by strengthening consumer protection measures.

The primary objective of the RBI's monetary policy, including the repo rate decision, is to maintain price stability by controlling inflation, while keeping in mind the objective of growth.

The Monetary Policy Committee (MPC) is mandated by the RBI Act to determine the policy repo rate required to meet the inflation target while considering the objective of maintaining price stability.

The Reserve Bank of India's Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% during its August 2026 review.

To stay relevant in the evolving global economy, the Skill India Mission continuously updates its training modules to include emerging technologies such as Artificial Intelligence, Data Science, Machine Learning, Robotics, and Advanced Manufacturing, preparing the workforce for future job roles.

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development and Entrepreneurship (MSDE) implemented by the National Skill Development Corporation (NSDC) to enable a large number of Indian youth to take up industry-relevant skill training.

The Skill India Mission was launched by the Government of India in 2015 with the aim of skilling over 40 crore (400 million) people in India in various sectors by 2022, and continues to evolve to meet industry demands.

JJM emphasizes a community-led approach, where local village communities, particularly women, are involved in the planning, implementation, management, operation, and maintenance of the water supply systems, ensuring sustainability.