Banking & Finance Current Affairs MCQs for Competitive Exams

1.

What is a common security measure mandated by new digital payment security frameworks to protect sensitive user data during transactions?

A Mandatory use of physical tokens for every transaction.

B Implementation of strong encryption standards and multi-factor authentication.

C Limiting the number of daily digital transactions per user.

D Requiring all digital payment platforms to be government-owned.

2.

A key objective of a new digital payment security framework is to address which of the following growing concerns in the digital payment ecosystem?

A Lack of interoperability between payment systems.

B High transaction fees charged by payment providers.

C Increasing instances of cyber fraud and data breaches.

D Limited access to digital payments in rural areas.

3.

Which organization in India is primarily responsible for developing and implementing a comprehensive framework for digital payment security, often in collaboration with the Reserve Bank of India (RBI)?

A Securities and Exchange Board of India (SEBI)

B National Payments Corporation of India (NPCI)

C Insurance Regulatory and Development Authority of India (IRDAI)

D Ministry of Finance

4.

The new regulatory framework for NBFCs introduced by RBI mandates a Common Equity Tier 1 (CET1) capital requirement for which specific layer of NBFCs?

A Base Layer

B Middle Layer

C Upper Layer

D All layers

5.

Under the RBI's tightened regulatory framework, which of the following categories of NBFCs is subject to the most stringent regulations, including higher capital requirements and enhanced governance norms?

A NBFC-Base Layer (NBFC-BL)

B NBFC-Middle Layer (NBFC-ML)

C NBFC-Upper Layer (NBFC-UL)

D NBFC-Top Layer (NBFC-TL)

6.

What is the primary objective of the Reserve Bank of India's (RBI) Scale-Based Regulation (SBR) framework for Non-Banking Financial Companies (NBFCs)?

A To reduce the number of NBFCs operating in India.

B To align NBFC regulations with global standards and mitigate systemic risks.

C To encourage NBFCs to convert into universal banks.

D To provide easier access to credit for NBFCs.

Banking & Finance MCQs - 2026-06-23