Banking and Finance Current Affairs MCQs

1.

The new RBI guidelines (August 2026) aim to bolster digital banking security. Which of the following is NOT typically covered under such enhanced security measures?

A Customer grievance redressal mechanisms for digital fraud.

B Regular security audits and penetration testing of digital platforms.

C Mandatory KYC for opening savings accounts via physical branches only.

D Implementation of robust fraud detection and prevention systems.

2.

Under the new RBI guidelines for digital banking security (August 2026), what is a significant measure banks are expected to implement regarding customer consent for data sharing?

A Obtaining explicit, informed consent for sharing customer data with third parties.

B Assuming consent if the customer does not object within 24 hours.

C Sharing data automatically with all partner companies.

D Not requiring any consent for anonymized data.

3.

The Reserve Bank of India (RBI) recently issued new guidelines in August 2026 to enhance digital banking security. Which of the following is a key focus area of these new guidelines?

A Reducing the number of ATMs across the country

B Mandating multi-factor authentication for all digital transactions

C Promoting the use of physical passbooks

D Limiting online banking hours to weekdays

4.

The decision to maintain the repo rate at 6.5% in August 2026 is primarily aimed at achieving which of the following objectives?

A Stimulating rapid economic growth at all costs

B Controlling inflation and ensuring price stability

C Reducing the fiscal deficit significantly

D Encouraging excessive borrowing by the government

5.

Which committee is responsible for deciding the policy repo rate in India?

A Financial Stability and Development Council (FSDC)

B Monetary Policy Committee (MPC)

C Securities and Exchange Board of India (SEBI) Board

D Reserve Bank of India Board

6.

As per the RBI's Monetary Policy Committee (MPC) review in August 2026, what is the current Repo Rate?

A 6.25%

B 6.50%

C 6.75%

D 6.00%

Banking & Finance MCQs - 2026-08-04