Banking & Finance MCQs - May 2026 Current Affairs

41.

Which of the following digital channels is most actively promoted by RBI for achieving financial inclusion?

A Only credit card usage.

B Unified Payments Interface (UPI) and mobile banking.

C Exclusive use of cryptocurrency for transactions.

D Cheque-based transactions.

42.

What is a primary goal of RBI's push for deeper financial inclusion through digital channels?

A To increase the number of physical bank branches in rural areas.

B To ensure access to affordable financial products and services for all segments of society, especially the unbanked.

C To limit the use of digital payments to urban areas only.

D To reduce the overall transaction volume in the economy.

43.

The RBI's cybersecurity guidelines for banks are primarily applicable to which of the following entities?

A Only Public Sector Banks.

B Only Private Sector Banks.

C All Scheduled Commercial Banks (excluding RRBs), Small Finance Banks, and Payments Banks.

D Only Foreign Banks operating in India.

44.

Which of the following is a key component emphasized in RBI's enhanced cybersecurity framework for banks?

A Mandatory adoption of blockchain technology for all transactions.

B Implementation of a robust Cyber Crisis Management Plan (CCMP).

C Exclusive use of proprietary software for all banking operations.

D Outsourcing all IT infrastructure to foreign vendors.

45.

What is the primary objective of the Reserve Bank of India's (RBI) enhanced cybersecurity framework for banks?

A To reduce operational costs for banks.

B To protect banks from evolving cyber threats and strengthen their resilience.

C To promote digital marketing strategies for financial products.

D To standardize ATM operations across all banks.

46.

Which of the following is a key requirement for Regulated Entities (REs) under the new digital lending guidelines regarding Lending Service Providers (LSPs)?

A REs must disclose the names of their LSPs on their website.

B LSPs are allowed to recover the principal amount directly from borrowers.

C REs are not responsible for the actions of their LSPs.

D LSPs can charge any fees directly to the borrower without RE's approval.

47.

What is a mandatory provision introduced by the RBI for digital loans to allow borrowers to exit the loan if they change their mind?

A A mandatory pre-payment penalty waiver.

B A 'cooling-off' or 'look-up' period.

C Automatic loan renewal option.

D Mandatory physical verification of the borrower.

48.

According to the RBI's new guidelines for digital lending, how must the loan disbursement and repayment be executed?

A Directly between the borrower's bank account and the Regulated Entity (RE) without any pass-through.

B Through Lending Service Providers (LSPs) acting as intermediaries.

C Via a pool account managed by a third-party payment aggregator.

D Any of the above methods, as per mutual agreement.

49.

What is the single point of contact for customers to file complaints under the Integrated Ombudsman Scheme?

A RBI's official website

B Complaint Management System (CMS) portal

C Respective bank branches

D National Consumer Helpline

50.

Under the RBI's Integrated Ombudsman Scheme, which of the following entities are covered?

A Only Commercial Banks

B Only Non-Banking Financial Companies (NBFCs)

C Commercial Banks, NBFCs, and Payment System Participants

D Only Payment System Participants