MCQs on Banking & Finance Current Affairs (Sept 2026)

1.

Which entity is responsible for ensuring that Digital Lending Apps (DLAs) comply with RBI's digital lending guidelines?

A The Ministry of Electronics and Information Technology

B The Regulated Entity (RE) that has partnered with the DLA

C The National Payments Corporation of India (NPCI)

D The Competition Commission of India

2.

Under RBI's digital lending framework, what is the 'Cooling-off' or 'Look-up' period provided to borrowers?

A A period during which the borrower can exit the loan by paying the principal and proportionate APR without penalty.

B A mandatory waiting period before the loan is approved.

C A period where no interest is charged on the loan.

D A period for the bank to verify the borrower's credit score.

3.

According to RBI's digital lending guidelines, all loan disbursals and repayments must be executed only between the bank accounts of the borrower and the:

A Digital Lending App (DLA) owner

B Regulated Entity (RE)

C Third-party payment aggregator

D Loan Service Provider (LSP)

4.

Who chairs the Monetary Policy Committee (MPC) of the Reserve Bank of India?

A Union Finance Minister

B Governor of RBI

C Chief Economic Advisor

D Deputy Governor of RBI (Monetary Policy)

5.

Which of the following statements correctly describes the 'Repo Rate' in the context of RBI's monetary policy?

A The rate at which RBI borrows money from commercial banks.

B The rate at which commercial banks borrow money from RBI by selling government securities.

C The rate at which RBI lends money to the government for fiscal deficit.

D The rate at which banks lend to retail customers.

6.

As of the latest RBI Monetary Policy Committee (MPC) review in 2026, which instrument is primarily used to absorb excess liquidity from the banking system?

A Repo Rate

B Standing Deposit Facility (SDF) Rate

C Marginal Standing Facility (MSF) Rate

D Bank Rate

Banking & Finance MCQs - 2026-09-06