Banking and Finance Current Affairs MCQs

1.

Which of the following is NOT a requirement under the new digital lending guidelines for regulated entities?

A To provide a Key Fact Statement (KFS) to the borrower.

B To disclose all-in-cost of loans upfront.

C To allow outsourcing of any credit assessment function.

D To have a clear grievance redressal mechanism.

2.

Under the new digital lending guidelines, what is mandated for all loan disbursals and repayments?

A They must be conducted through a bank's own platform.

B They must be routed through a bank account of the borrower and the regulated entity.

C They can be done via digital wallets only.

D They are exempt from any specific routing requirements.

3.

What is a key objective of the new digital lending guidelines introduced by the RBI?

A To increase the number of digital lending apps

B To reduce the interest rates charged by lenders

C To enhance consumer protection and prevent predatory practices

D To simplify the loan application process

4.

What is the primary objective of maintaining a stable repo rate by the RBI?

A To increase bank profits

B To control inflation and ensure price stability

C To boost stock market performance

D To encourage foreign investment

5.

Which body within the Reserve Bank of India is responsible for setting the repo rate?

A Board of Directors

B Executive Committee

C Monetary Policy Committee (MPC)

D Financial Stability Board

6.

In its August 2026 Monetary Policy Committee (MPC) review, what was the decision regarding the repo rate?

A Increased to 6.75%

B Maintained at 6.5%

C Decreased to 6.25%

D Maintained at 6.0%

Banking & Finance MCQs - 2026-08-28