Banking & Finance Current Affairs MCQs for Competitive Exams

1.

What is the role of regulatory bodies like the RBI in strengthening bank cybersecurity frameworks?

A To provide financial aid to banks for cybersecurity investments.

B To set cybersecurity standards and guidelines for banks to follow.

C To conduct penetration testing on bank systems.

D To develop new cybersecurity technologies for banks.

2.

Which of the following is a common cybersecurity measure adopted by banks?

A Implementing multi-factor authentication (MFA).

B Regularly updating software and systems.

C Conducting employee training on cybersecurity best practices.

D All of the above.

3.

What is a key reason for banks to strengthen their cybersecurity frameworks?

A To comply with international banking regulations.

B To protect sensitive customer data and financial assets from cyber threats.

C To improve the efficiency of their online banking services.

D To reduce the number of physical branches.

4.

According to the RBI's guidelines, what information must be explicitly disclosed in the Key Fact Statement (KFS) for digital loans?

A Only the principal loan amount and interest rate.

B All-in-one cost of credit, including all charges, fees, and the Annual Percentage Rate (APR).

C The credit score of the borrower.

D The digital lending platform's profit margin.

5.

What is the primary objective of the RBI's enhanced transparency measures in digital lending?

A To increase the profitability of digital lending platforms.

B To protect borrowers from unfair practices and ensure fair treatment.

C To reduce the overall cost of borrowing for consumers.

D To encourage more banks to enter the digital lending space.

6.

Which of the following measures has been introduced by the RBI to enhance transparency in digital lending?

A Mandatory disclosure of all charges and fees by lenders.

B Introduction of a standardized Key Fact Statement (KFS) for all digital loans.

C Requirement for lenders to provide a cooling-off period for borrowers.

D All of the above.

Banking & Finance MCQs - 2026-07-01