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Banking & Finance MCQs - 2026-04-02

1.
What is a new requirement introduced for outsourced IT service providers under the RBI's revised guidelines?
A Mandatory reduction in service fees
B Requirement for regular audits
C Exemption from regulatory compliance
D Limited scope of services offered
2.
According to the new RBI framework, banks are responsible for data protection and confidentiality even when:
A Services are managed entirely in-house
B Services are outsourced
C Only non-sensitive data is handled
D The service provider is a subsidiary
3.
The revised guidelines emphasize the importance of business continuity and disaster recovery planning for:
A Only internal IT functions
B Outsourced IT functions
C Customer service departments
D Marketing and sales teams
4.
Which of the following is a key provision in the new RBI guidelines regarding IT service providers?
A Reduced due diligence requirements
B Stricter contractual obligations
C Less emphasis on data protection
D No requirement for continuous monitoring
5.
What is a primary objective of the RBI's revised guidelines on outsourcing of IT services by banks?
A To discourage banks from outsourcing IT services
B To strengthen governance and risk management practices for IT outsourcing
C To increase the cost of IT services for banks
D To reduce the need for internal IT departments
6.
Which government scheme is mentioned as having a positive impact on India's financial inclusion efforts?
A Make in India
B Swachh Bharat Abhiyan
C Pradhan Mantri Jan Dhan Yojana (PMJDY)
D Ayushman Bharat
7.
The growth in the FI-Index is attributed to sustained efforts in all of the following EXCEPT:
A Expanding banking penetration
B Increasing the usage of digital payment systems
C Reducing access to formal credit
D Enhancing financial literacy programs
8.
Which of the following is NOT a dimension captured by the FI-Index?
A Access to banking
B Access to credit
C Access to luxury goods
D Financial literacy
9.
What is the latest reported value of India's FI-Index for FY 2025-26?
A 55.2
B 58.9
C 60.1
D 62.5
10.
What is the primary purpose of the RBI's Financial Inclusion Index (FI-Index)?
A To measure the stock market performance
B To measure the extent of financial inclusion in the country
C To track inflation rates
D To assess the health of the banking sector's profitability