Banking & Finance MCQs - 2026-05-23

The Digital India initiative aims to transform India into a digitally empowered society and knowledge economy, and RBI's push for digital financial inclusion is a critical component of this broader vision, leveraging digital public infrastructure like Aadhaar and UPI.

UPI and mobile banking platforms are key digital channels promoted by RBI due to their ease of use, interoperability, and wide reach, making them instrumental in driving financial inclusion.

Financial inclusion aims to extend the reach of formal financial services to all sections of society, particularly the underserved, and digital channels are crucial for achieving this efficiently and affordably.

The RBI's cybersecurity guidelines typically apply to a broad spectrum of regulated entities, including all Scheduled Commercial Banks (excluding RRBs), Small Finance Banks, and Payments Banks, to ensure a uniform level of security across the banking sector.

The framework emphasizes the need for banks to have a comprehensive Cyber Crisis Management Plan (CCMP) to effectively respond to and recover from cyber incidents.

The enhanced framework aims to fortify the cybersecurity posture of banks against sophisticated and evolving cyber threats, ensuring the safety and soundness of the financial system.