MCQs 2026

The RBI guidelines clearly state that Regulated Entities (REs) are ultimately responsible for the actions of their Lending Service Providers (LSPs). This includes ensuring that LSPs adhere to all data privacy and security standards, and that a robust grievance redressal mechanism is in place, with a nodal officer appointed by the RE.

The Key Fact Statement (KFS) is a crucial requirement under RBI's digital lending guidelines. It aims to enhance transparency by providing borrowers with a clear and concise summary of the loan terms, including the Annual Percentage Rate (APR), all fees, charges, and other relevant information, before they commit to the loan.

The RBI's digital lending guidelines mandate that the loan disbursement should be made directly into the bank account of the borrower without any pass-through to the Lending Service Provider (LSP). This ensures transparency and prevents unauthorized deductions.

Modern FTAs typically go beyond tariff reductions to include provisions on investment protection, services trade, intellectual property rights, competition policy, and increasingly, sustainable development and digital trade, reflecting the comprehensive nature of the ASEAN-EU agreement finalized in 2026.

Both the European Union and the Association of Southeast Asian Nations are major economic players. The EU is one of the world's largest single markets, and ASEAN represents a dynamic and rapidly growing economic bloc with significant collective GDP and trade volume.

The ASEAN-EU FTA aims to reduce trade barriers, harmonize regulations, and foster greater economic cooperation, thereby boosting trade volumes and investment flows between the two significant economic blocs.

The G77 is a group of 77 developing countries that was founded to promote their collective economic interests and enhance their negotiating power in the United Nations. In 2026, the group has expanded significantly beyond its original 77 members.

India's stance on UNSC reforms is that the Council's structure does not reflect the current global realities and the significant contributions of developing nations. Reforms aim to make it more inclusive and representative.

India has consistently called for reforms in the UN Security Council to make it more representative of the current global geopolitical realities, including the voices of developing nations. This call was reiterated at the G77 Summit in 2026.

The NCF-FS strongly advocates for a child-centric approach where learning is driven by the child's interests and engagement through play and activities.