1.
The RBI's framework for cybersecurity in digital payments includes strict guidelines for reporting cyber incidents. What is the stipulated timeframe within which regulated entities are generally required to report significant cyber incidents to the RBI?
2.
In its guidelines for payment system operators and participants, the RBI frequently mandates the implementation of Multi-Factor Authentication (MFA) for digital payment transactions. What is the main purpose of requiring MFA?
3.
The Reserve Bank of India (RBI) has consistently emphasized the need for robust cybersecurity measures in the digital payments ecosystem. Which of the following is a primary reason for RBI's strong push for enhanced cybersecurity in this domain?
4.
The Reserve Bank of India (RBI) mandates all Non-Banking Financial Companies (NBFCs) to formulate and implement a Fair Practices Code (FPC). Which of the following is NOT a primary objective of the FPC for NBFCs?
5.
As part of its efforts to strengthen the regulatory framework for Non-Banking Financial Companies (NBFCs), the RBI has often emphasized the harmonization of asset classification and provisioning norms. What is the primary objective behind aligning these norms for NBFCs with those applicable to commercial banks?
6.
Which of the following frameworks was introduced by the Reserve Bank of India (RBI) to categorize Non-Banking Financial Companies (NBFCs) into different layers based on their size, activity, and perceived risk, thereby aligning regulatory intensity with their systemic significance?
