MCQs on Banking & Finance: RBI, Digital Lending, Financial Inclusion

61.

Which initiative by the RBI aims to leverage digital technology for financial inclusion?

A Jan Dhan Yojana

B Digital India Initiative

C PM Cares Fund

D Make in India

62.

What is a primary objective of the RBI's focus on financial inclusion through digital channels?

A To increase the number of physical bank branches.

B To reduce the cost and increase the accessibility of financial services.

C To discourage the use of digital payment systems.

D To limit access to financial services to urban areas only.

63.

Which of the following digital channels has the RBI identified as crucial for promoting financial inclusion?

A Mobile banking and UPI

B Physical bank branches

C Traditional paper-based transactions

D Only internet banking

64.

Which entity is responsible for ensuring that digital lending platforms adhere to the RBI's customer protection guidelines?

A The Ministry of Electronics and Information Technology (MeitY)

B The Reserve Bank of India (RBI)

C The National Payments Corporation of India (NPCI)

D The Securities and Exchange Board of India (SEBI)

65.

As per RBI's enhanced customer protection norms for digital lending, what is the maximum tenure for a cooling-off period that a borrower can avail?

A 7 days

B 15 days

C 30 days

D No cooling-off period is mandated.

66.

Which of the following is a key measure introduced by the RBI to enhance customer protection in digital lending?

A Mandatory upfront disclosure of all charges and fees.

B Allowing lenders to charge interest rates as they deem fit.

C Reducing the minimum age for availing digital loans.

D Eliminating the need for a cooling-off period for digital loans.

67.

What is the minimum Net Owned Fund (NOF) requirement for an NBFC to commence business as a loan company or investment company, as per recent RBI guidelines?

A ₹1 crore

B ₹2 crore

C ₹5 crore

D ₹10 crore

68.

Under the Scale-Based Regulation (SBR) framework, which category of NBFCs faces the most stringent regulations, similar to banks?

A NBFC-Base Layer (NBFC-BL)

B NBFC-Middle Layer (NBFC-ML)

C NBFC-Upper Layer (NBFC-UL)

D NBFC-Top Layer (NBFC-TL)

69.

What is the primary reason cited by RBI for tightening norms for NBFCs?

A To encourage more NBFCs to enter the market.

B To align NBFC regulations with those of banks and mitigate systemic risks.

C To reduce competition in the financial sector.

D To promote foreign investment in NBFCs.

70.

The RBI has been actively promoting the use of which real-time payment system for instant inter-bank fund transfers?

A Cheque Clearing System

B Demand Drafts

C Unified Payments Interface (UPI)

D Magnetic Ink Character Recognition (MICR)

Banking & Finance MCQs