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

71.

What is the main goal of the RBI's National Strategy for Financial Inclusion (NSFI) 2019-2024?

A To increase the number of bank branches in metropolitan areas.

B To provide access to formal financial services to all citizens.

C To promote cashless transactions only.

D To regulate cryptocurrency.

72.

Which initiative by RBI aims to promote digital payments in rural and semi-urban areas by providing incentives to banks and payment system operators?

A National Electronic Funds Transfer (NEFT)

B Real-Time Gross Settlement (RTGS)

C Payment Infrastructure Development Fund (PIDF)

D Unified Payments Interface (UPI)

73.

What is the primary objective behind RBI enhancing the customer grievance redressal mechanism?

A To reduce the number of customer complaints.

B To provide a single point of reference for customers to file complaints against regulated entities.

C To increase the operational efficiency of banks.

D To promote digital banking.

74.

Which of the following entities are covered under the RBI's Integrated Ombudsman Scheme, 2021?

A Only Commercial Banks

B Commercial Banks, NBFCs, and Payment System Participants

C Only Public Sector Banks

D Only Cooperative Banks

75.

What is the integrated grievance redressal mechanism launched by RBI for customers?

A Banking Ombudsman Scheme

B Integrated Ombudsman Scheme, 2021

C Consumer Protection Act

D RBI Grievance Cell

76.

Which of the following is NOT a key component of the RBI's new framework for resolving stressed assets?

A Early identification and reporting of defaults.

B Mandatory implementation of a Resolution Plan (RP) within specified timelines.

C Incentivizing banks to evergreen stressed assets.

D Reference to the Insolvency and Bankruptcy Code (IBC) for non-resolution.

77.

The RBI's new framework for stressed assets emphasizes a review period for borrower accounts classified as 'default'. What is the typical initial review period mentioned for such accounts?

A 7 days

B 30 days

C 90 days

D 180 days

78.

What is the primary objective of the RBI's new framework for resolving stressed assets in banks?

A To allow banks to write off bad loans without any resolution efforts.

B To provide a harmonized and comprehensive framework for early identification and resolution of stressed assets.

C To encourage banks to lend more aggressively to risky sectors.

D To transfer all stressed assets to the government for resolution.

79.

Which of the following entities are primarily responsible for adhering to the RBI's enhanced digital lending guidelines?

A Only banks and Non-Banking Financial Companies (NBFCs).

B Only Lending Service Providers (LSPs).

C Regulated Entities (REs) and Lending Service Providers (LSPs) engaged by them.

D Only technology companies providing digital platforms.

80.

Under the new digital lending guidelines, to whose bank account must the loan disbursement and repayment be executed?

A Directly to and from the Regulated Entity (RE).

B Directly to and from the borrower's bank account.

C To and from the Lending Service Provider (LSP).

D To and from any third-party payment aggregator.

Banking & Finance MCQs