Banking & Finance MCQs: RBI and UPI Updates September 2026

1.

The review of UPI transaction limits by the Ministry of Finance in 2026 is typically conducted in consultation with which key regulatory body?

A Securities and Exchange Board of India (SEBI)

B National Company Law Tribunal (NCLT)

C Reserve Bank of India (RBI)

D Insurance Regulatory and Development Authority of India (IRDAI)

2.

Which of the following is a potential outcome of the Finance Ministry's review of UPI transaction limits in 2026, aimed at promoting digital payments?

A A reduction in the number of merchants accepting UPI.

B Introduction of higher transaction limits for specific categories like education or healthcare.

C A complete ban on UPI transactions above ₹5,000.

D Mandatory use of biometric authentication for all UPI transactions.

3.

In early 2026, the Ministry of Finance conducted a review of UPI transaction limits. What is a primary reason for such periodic reviews?

A To completely phase out cash transactions in India.

B To ensure the UPI system remains secure, efficient, and aligned with evolving economic needs and user behaviour.

C To increase the transaction fees for all UPI users.

D To restrict UPI usage to only large businesses and corporations.

4.

Which entity is primarily responsible for overseeing and enforcing the RBI's enhanced digital lending transparency guidelines in India as of 2026?

A Securities and Exchange Board of India (SEBI)

B Reserve Bank of India (RBI)

C Ministry of Electronics and Information Technology (MeitY)

D National Payments Corporation of India (NPCI)

5.

As per the RBI's 2026 digital lending transparency framework, what is a mandatory disclosure requirement for digital lending apps before entering into any loan agreement?

A The total number of employees working in the lending institution.

B The credit score of the borrower's family members.

C The Annual Percentage Rate (APR) and a detailed breakdown of all fees and charges.

D The company's profit margins for the last three financial years.

6.

In 2026, the Reserve Bank of India (RBI) introduced new guidelines to enhance transparency in digital lending. Which of the following is a key objective of these enhanced guidelines?

A To reduce the number of digital lending apps available in the market.

B To ensure all digital lending activities are conducted by Scheduled Commercial Banks only.

C To protect borrowers from unfair practices and ensure fair charges and fees.

D To mandate a fixed interest rate for all digital loans.

Banking & Finance MCQs - 2026-09-07