Banking & Finance MCQs - 2026-06-21

As per recent RBI guidelines, the minimum Net Owned Fund (NOF) requirement for an NBFC to commence business as a loan company or investment company is ₹2 crore.

The SBR framework categorizes NBFCs into four layers: Base Layer, Middle Layer, Upper Layer, and Top Layer. NBFC-UL, identified as systemically significant, are subject to enhanced regulatory requirements, akin to banks.

The RBI has been progressively tightening norms for NBFCs, especially larger ones, to address potential systemic risks and bring their regulatory framework closer to that of banks, under the 'Scale-Based Regulation' (SBR) framework.

UPI (Unified Payments Interface) is a real-time payment system developed by NPCI, allowing instant fund transfers between bank accounts using a smartphone, which the RBI actively promotes for digital payments.

The NSFI aims to provide access to formal financial services, including banking, insurance, pension, and credit, to all citizens in a timely and affordable manner.

The Payment Infrastructure Development Fund (PIDF) scheme was launched by the RBI to subsidize the deployment of Point of Sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centres and North Eastern States.

The primary objective is to simplify and streamline the grievance redressal process for customers by providing a 'One Nation One Ombudsman' approach, making it easier for them to file complaints.

The Integrated Ombudsman Scheme, 2021, covers commercial banks, regional rural banks, scheduled primary co-operative banks, non-banking financial companies (NBFCs) with asset size of ₹50 crore and above, and all payment system participants.

The RBI launched the Integrated Ombudsman Scheme, 2021, integrating the existing three ombudsman schemes (Banking Ombudsman Scheme, Ombudsman Scheme for NBFCs, and Ombudsman Scheme for Digital Transactions) into a single scheme.