Banking & Finance MCQs

The current context mentions financial assistance, technical support, and capacity building programs. Direct equity investment is not listed as a component.

The current context clearly states that the scheme 'is specifically designed to accelerate the digital transformation journey of MSMEs nationwide'.

The current context specifies that the 'Ministry of Finance, in close collaboration with the Small Industries Development Bank of India (SIDBI), officially launched the 'Vikas Nidhi' scheme'.

The current context states that the 'Vikas Nidhi' scheme was launched on April 7, 2026.

The impact section states, 'potential consolidation in the fintech sector as smaller, non-compliant players exit'.

The framework mandates transparent interest rate disclosure, robust grievance redressal, and fair practices. Mandatory physical verification is not mentioned as a specific mandate.

The impact section highlights 'enhanced consumer protection, increased transparency in digital lending' as key outcomes.

The current context states, 'all loan disbursements and repayments are executed directly between the borrower and the RE'.

The current context mentions that the framework 'encompasses both regulated entities (REs) and Lending Service Providers (LSPs)'.

The current context explicitly states that the Reserve Bank of India announced the framework on April 8, 2026.