MCQs - 2026-09

The RBI guidelines mandate that all loan repayments must be executed directly between the borrower's bank account and the Regulated Entity's (RE) bank account, bypassing pass-through accounts.

The Reverse Repo Rate is the interest rate at which the RBI borrows money from commercial banks, thereby absorbing excess liquidity from the system.

The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth, as mandated by the RBI Act.

The Monetary Policy Committee (MPC) is the statutory body under the RBI Act, 1934, responsible for fixing the benchmark interest rate in India.

The rigorous review and verification process of the PM-KISAN beneficiary database, including Aadhaar seeding and land record verification, has successfully identified a significant number of ineligible beneficiaries, leading to the recovery of funds disbursed to them and preventing future leakages.

Linking bank accounts with Aadhaar and land records (e-KYC and land seeding) has been a crucial step in verifying the authenticity of beneficiaries and ensuring that financial aid reaches the intended recipients directly, thereby enhancing transparency.

The primary objective of reviewing the PM-KISAN beneficiary database is to ensure that only eligible landholding farmer families receive the benefits, thereby enhancing transparency and preventing leakages by identifying and removing ineligible beneficiaries.

The PM-KISAN scheme was launched in February 2019 (with effect from December 1, 2018) and is implemented by the Union Ministry of Agriculture & Farmers Welfare.

The PM-KISAN scheme provides financial assistance in three equal installments annually. It is a 100% Centrally-funded scheme, meaning the entire financial burden is borne by the Government of India.

Under the PM-KISAN scheme, eligible landholding farmer families receive an annual financial assistance of ₹6,000, disbursed in three equal installments of ₹2,000 each, every four months.