As per the Monetary Policy Statement released in August 2026, what is the current Repo Rate maintained by the Reserve Bank of India (RBI)?
A 6.25%
B 6.50%
C 6.75%
D 6.00%
Answer: B
In its August 2026 Monetary Policy Committee meeting, the RBI decided to keep the policy repo rate unchanged at 6.50%. This decision was taken to ensure inflation progressively aligns with the target while supporting growth.
142.
Which of the following is a key proactive measure mandated by the RBI for banks to strengthen their cybersecurity posture?
A Outsourcing all cybersecurity functions to third-party vendors.
B Conducting regular cybersecurity audits, including vulnerability assessments and penetration testing.
C Relying solely on antivirus software for protection against all threats.
D Limiting employee access to the internet to prevent cyberattacks.
Answer: B
The RBI emphasizes a proactive approach to cybersecurity. Regular cybersecurity audits, including vulnerability assessments and penetration testing (ethical hacking), are mandated to identify and mitigate weaknesses in the bank's systems and infrastructure before they can be exploited by malicious actors.
143.
What is a mandatory requirement for banks regarding cyber incidents as per RBI's cybersecurity guidelines?
A Banks must report only major financial losses due to cyberattacks to the RBI.
B Banks are required to report all significant cyber incidents to the RBI within a stipulated timeframe.
C Banks should only report cyber incidents if customer data is compromised.
D Banks are encouraged to report cyber incidents to CERT-In, but not necessarily to the RBI.
Answer: B
The RBI's cybersecurity guidelines for banks mandate timely reporting of all significant cyber incidents to the RBI. This enables the regulator to monitor the threat landscape, assess systemic risks, and take appropriate supervisory actions.
144.
As per the RBI's guidelines on cybersecurity in banks, who is primarily responsible for formulating and implementing a comprehensive cybersecurity policy?
A The Chief Information Security Officer (CISO) alone.
B The IT Department in consultation with external consultants.
C The Board of Directors of the bank.
D The Reserve Bank of India's Department of Supervision.
Answer: C
The RBI mandates that the Board of Directors of a bank is ultimately responsible for establishing a robust cybersecurity policy and ensuring its effective implementation. This emphasizes top-level commitment and oversight for cybersecurity governance.
145.
What is the primary purpose of the 'Key Fact Statement (KFS)' and the 'cooling-off period' mandated by the RBI's digital lending framework?
A To allow lenders to charge higher interest rates for short-term loans.
B To ensure transparency in loan terms and provide borrowers with an option to exit the loan.
C To enable Lending Service Providers (LSPs) to manage loan portfolios more efficiently.
D To facilitate faster loan processing and instant disbursal.
Answer: B
The Key Fact Statement (KFS) ensures complete transparency of loan terms, including interest rates, fees, and other charges. The cooling-off period provides borrowers with a window to reconsider and exit the loan by repaying the principal and proportionate Annual Percentage Rate (APR) without penalty, thereby protecting them from impulsive borrowing.
146.
Which of the following data access practices is strictly prohibited for digital lending apps as per the RBI's enhanced framework?
A Accessing device location for fraud prevention.
B Accessing camera for KYC verification.
C Accessing mobile phone contacts, call logs, or media galleries.
D Accessing microphone for voice-based authentication.
Answer: C
The RBI's digital lending guidelines explicitly prohibit digital lending apps from accessing mobile phone resources such as contacts, call logs, or media galleries. Data collection must be need-based, with explicit consent, and for a specific purpose.
147.
As per the RBI's enhanced digital lending framework, which of the following is a mandatory requirement for loan disbursal and repayment?
A Loans must be disbursed by Lending Service Providers (LSPs) into the borrower's bank account.
B Loans must be disbursed directly into the borrower's bank account by the Regulated Entity (RE) and repayments collected directly by the RE.
C Loans can be disbursed into a digital wallet and repayments collected via an LSP's account.
D Loans can be disbursed by any third-party agent, provided they are registered with the RBI.
Answer: B
The RBI's digital lending guidelines mandate that the loan disbursal and repayment must be executed directly between the Regulated Entity (RE) and the borrower's bank account, without any pass-through or pooling of funds by a Lending Service Provider (LSP). This ensures transparency and accountability.
148.
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?
A Within 7 working days of detection.
B Within 24 hours of detection.
C Within 48 hours of detection.
D At the end of the financial quarter.
Answer: C
As per RBI's various guidelines on cybersecurity, including those for banks and payment system operators, significant cyber incidents are generally required to be reported to the RBI within 48 hours of detection. This prompt reporting enables the RBI to assess the systemic impact and take necessary actions.
149.
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?
A To simplify the payment process for users.
B To reduce the transaction processing time.
C To add an extra layer of security beyond a single password, making unauthorized access significantly harder.
D To enable offline payment capabilities.
Answer: C
Multi-Factor Authentication (MFA) is a security system that requires more than one method of authentication from independent categories of credentials to verify the user's identity for a login or other transaction. Its main purpose is to significantly enhance security by making it much harder for unauthorized individuals to gain access, even if one factor (like a password) is compromised.
150.
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?
A To reduce the operational costs for payment service providers.
B To promote the use of cash transactions over digital payments.
C To protect customer data, prevent financial fraud, and maintain public confidence in digital transactions.
D To limit the growth of new payment technologies.
Answer: C
RBI's strong emphasis on enhanced cybersecurity in digital payments is primarily aimed at safeguarding sensitive customer data, preventing various forms of financial fraud, and thereby sustaining and building public trust and confidence in the rapidly evolving digital payment ecosystem.
