RBI & Banking MCQs - July 2026 Current Affairs

21.

Which of the following is a key norm introduced by the RBI for digital lending platforms to ensure transparency and direct accountability?

A Loan disbursal and repayment must be executed only between the borrower and the Regulated Entity (RE) directly.

B Lending Service Providers (LSPs) are allowed to disburse loans on behalf of Regulated Entities.

C Borrowers can directly pay fees to Lending Service Providers for their services.

D Digital lending platforms are exempt from providing a Key Fact Statement (KFS) for small-value loans.

22.

The RBI's expanded digital lending guidelines have introduced stricter norms for outsourcing. What is a key requirement for regulated entities when outsourcing digital lending activities?

A Outsourcing is completely banned for all digital lending activities.

B The regulated entity must retain full control and oversight of the outsourced activity.

C The outsourcing agreement can be verbal.

D The third-party vendor must be a bank.

23.

Under the expanded digital lending guidelines, what is the role of the 'Digital Lending App' (DLA) in relation to the regulated entity (RE)?

A The DLA can operate independently without any oversight from the RE.

B The DLA must be owned and operated by the regulated entity.

C The DLA must clearly disclose that it is acting on behalf of the RE.

D The DLA is solely responsible for all credit risk.

24.

The RBI's expanded digital lending guidelines, effective from late 2025, aim to enhance customer protection. Which of the following is NOT a key provision under these guidelines?

A Mandatory upfront disclosure of all charges and fees to the borrower.

B Prohibition of automatic increase in credit limit without borrower's explicit consent.

C Allowing lending service providers (LSPs) to hold customer data indefinitely.

D Requirement for a cooling-off period for loan cancellation.

25.

Which of the following is a key objective highlighted by the RBI in its Mid-Year Monetary Policy Review for FY27, alongside maintaining price stability?

A Aggressively reducing the fiscal deficit.

B Promoting financial inclusion and digital payments.

C Implementing capital controls to manage exchange rates.

D Encouraging outward foreign direct investment.

26.

In the Mid-Year Monetary Policy Review for FY27, the RBI's Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged. What is the current policy repo rate?

A 5.90%

B 6.15%

C 6.50%

D 6.75%

27.

As per the RBI's Mid-Year Monetary Policy Review for FY27 (released in October 2026), what is the projected Real GDP growth rate for FY27?

A 6.8%

B 7.0%

C 7.2%

D 7.5%

28.

Despite the rise in digital transactions in 2026, challenges remain in achieving complete financial inclusion. Which of the following is a significant barrier that needs to be addressed?

A Over-availability of internet connectivity in all regions.

B Low levels of digital literacy and awareness among certain population segments.

C Excessive government regulation on digital payment platforms.

D Lack of interest from banks in expanding digital services.

29.

The increase in digital transactions as part of the financial inclusion drive in 2026 is crucial for economic development. What is a key benefit of this trend for the economy?

A Increased reliance on cash transactions, leading to higher black money.

B Reduced transparency and traceability of financial flows.

C Greater efficiency, reduced transaction costs, and improved monitoring of economic activity.

D Limited access to financial services for remote populations.

30.

In 2026, India's financial inclusion drive has witnessed a significant surge in digital transactions. Which of the following initiatives by the government or RBI has been a major catalyst for this trend?

A Introduction of higher denomination currency notes.

B Promotion of Jan Dhan Yojana, UPI, and Aadhaar-enabled payment systems.

C Restriction on the use of mobile phones in rural areas.

D Mandatory closure of all physical bank branches.

Banking & Finance MCQs