What is the primary responsibility of a Regulated Entity (RE) concerning Lending Service Providers (LSPs) under the RBI's digital lending framework?
A REs are solely responsible for all activities of LSPs engaged by them, including compliance with all regulatory guidelines.
B LSPs are independent entities and bear full responsibility for their own compliance and customer interactions.
C REs are only responsible for the financial solvency of LSPs, not their operational conduct.
D LSPs must obtain a separate license from the RBI to operate independently of REs.
Answer: A
The RBI's digital lending framework clearly states that Regulated Entities (REs) are ultimately responsible for the activities of their Lending Service Providers (LSPs). LSPs act as agents of REs, and REs must ensure that LSPs comply with all regulatory guidelines, including those related to customer protection and data privacy.
12.
Which of the following is a mandatory requirement for loan disbursement under the RBI's framework for digital lending platforms, effective by 2026?
A Loans must be disbursed directly into the borrower's bank account by the Regulated Entity (RE).
B Lending Service Providers (LSPs) can disburse loans directly to the borrower's digital wallet.
C Borrowers can receive loans in cash from agents of the digital lending platform.
D The first installment of the loan can be adjusted against any outstanding dues with the LSP.
Answer: A
Under the RBI's digital lending guidelines, all loan disbursements and repayments must be executed directly between the Regulated Entity (RE) and the borrower's bank account, without any pass-through or pooling by the Lending Service Provider (LSP). This ensures transparency and accountability.
13.
The digital integration of MGNREGA wage payments aims to improve financial inclusion. Which of the following is a direct consequence of this integration?
A Increased reliance on cash transactions.
B Reduced access to banking services for rural workers.
C Greater participation of beneficiaries in the formal banking system.
D Higher instances of wage theft and corruption.
Answer: C
By linking wage payments to bank accounts and using digital platforms, MGNREGA's digital integration encourages workers to open bank accounts and use banking services, thereby enhancing their financial inclusion.
14.
Which digital payment system is predominantly used for direct wage disbursement to MGNREGA workers, ensuring their identity verification?
A Cheque payments
B Demand Drafts
C Aadhaar-Enabled Payment System (AEPS)
D Mobile wallets without bank linkage
Answer: C
AEPS leverages Aadhaar authentication to enable beneficiaries to withdraw wages directly from their bank accounts at banking points, ensuring that payments are made to the verified identity of the worker.
15.
What is the primary goal of integrating digital technologies into MGNREGA wage payments as of 2026?
A To reduce the number of man-days generated under the scheme.
B To ensure timely, transparent, and leak-proof disbursement of wages directly to beneficiaries' bank accounts.
C To replace manual record-keeping with paper-based systems.
D To increase the administrative costs of the scheme.
Answer: B
Digital integration, through systems like Aadhaar-Enabled Payment System (AEPS) and direct bank transfers, aims to eliminate intermediaries, reduce delays, and prevent leakage, ensuring that wages reach the intended beneficiaries promptly and securely.
16.
Under the PM-Surya Ghar Muft Bijli Yojana, what is the maximum capacity for which subsidies are typically provided for residential rooftop solar systems as of 2026?
A 1 kilowatt (kW)
B 3 kilowatts (kW)
C 5 kilowatts (kW)
D 10 kilowatts (kW)
Answer: C
While subsidies can vary, the scheme generally targets residential rooftop solar systems up to 3 kW for significant subsidy benefits, with provisions for larger systems at potentially reduced subsidy rates.
17.
Which of the following is a key component of the financial assistance provided under the PM-Surya Ghar Muft Bijli Yojana for rooftop solar installations?
A Direct cash transfer of the entire installation cost.
B A central financial assistance (CFA) subsidy based on the installed capacity.
C Low-interest loans from public sector banks only.
D Tax rebates on electricity bills for 10 years.
Answer: B
The scheme provides a Central Financial Assistance (CFA) subsidy, which is a direct financial support from the government, calculated based on the capacity of the rooftop solar system installed.
18.
As of 2026, what is the primary objective of the expanded PM-Surya Ghar Muft Bijli Yojana?
A To provide free electricity to all rural households.
B To promote rooftop solar installations and provide up to 300 units of free electricity per month to eligible households.
C To subsidize the purchase of electric vehicles.
D To develop large-scale solar power parks across the country.
Answer: B
The expanded PM-Surya Ghar Muft Bijli Yojana aims to encourage rooftop solar installations by offering subsidies and providing up to 300 units of free electricity monthly to eligible households, thereby reducing electricity bills and promoting renewable energy.
19.
Which of the following locations was NOT a target of the 9/11 terrorist attacks?
A World Trade Center, New York City
B The Pentagon, Arlington, Virginia
C White House, Washington D.C.
D Shanksville, Pennsylvania (United Airlines Flight 93 crash site)
Answer: C
The targets of the 9/11 attacks were the World Trade Center in New York City, The Pentagon in Arlington, Virginia, and the intended target of United Airlines Flight 93 (which crashed in Shanksville, Pennsylvania) was believed to be the U.S. Capitol or the White House, but it did not reach either. The White House itself was not directly hit.
20.
What is the name of the day observed annually in the USA on September 11 to commemorate the victims of the 9/11 attacks?
A Remembrance Day
B Freedom Day
C Patriot Day
D National Unity Day
Answer: C
September 11 is observed as Patriot Day in the United States to honor the memory of those who lost their lives in the 2001 terrorist attacks.
