Banking & Finance MCQs - RBI, MPC, Cybersecurity

21.

As of 2026, how many members constitute the Monetary Policy Committee (MPC) of the Reserve Bank of India?

A 4

B 5

C 6

D 7

22.

As of 2026, the RBI's strategy for financial inclusion in rural areas increasingly involves leveraging technology. What is a significant technological advancement facilitating this?

A The widespread adoption of physical passbooks only.

B The expansion of Jan Dhan Yojana accounts and the use of Aadhaar-enabled Payment System (AePS).

C The phasing out of all digital payment infrastructure.

D The restriction of mobile phone usage in rural areas.

23.

Which of the following initiatives, often supported by the RBI, plays a crucial role in enhancing financial literacy and access in rural India?

A Establishing luxury resorts.

B Promoting financial literacy campaigns and the establishment of Banking Correspondents (BCs).

C Closing down rural post offices.

D Restricting access to mobile banking.

24.

In 2026, the RBI continues its focus on financial inclusion in rural areas. Which of the following is a key strategy employed by the RBI to achieve this?

A Reducing the number of bank branches in rural areas.

B Promoting the use of basic savings bank deposit accounts (BSBDA) and expanding access to banking services through various channels.

C Discouraging the use of digital payment systems.

D Increasing the minimum balance requirement for rural accounts.

25.

The RBI's 2026 digital lending framework requires digital lending platforms to disclose all-in cost of loans to borrowers. What does 'all-in cost' typically include?

A Only the principal amount of the loan.

B Interest rate, processing fees, and other charges.

C The borrower's credit score.

D The platform's marketing expenses.

26.

Under the 2026 RBI digital lending framework, which entity is mandated to ensure that all loan disbursals and repayments are processed through regulated entities?

A The borrower.

B The digital lending platform.

C The Reserve Bank of India.

D The Ministry of Finance.

27.

In 2026, the RBI introduced a new framework for digital lending. What is a primary aim of this framework?

A To encourage unregulated lending practices.

B To protect borrowers from predatory practices and ensure transparency.

C To increase the interest rates on all digital loans.

D To restrict digital lending to only large corporations.

28.

The RBI's 2026 cybersecurity framework mandates that banks conduct regular audits and vulnerability assessments. What is the primary purpose of these assessments?

A To identify and rectify potential security weaknesses before they are exploited.

B To increase the number of IT staff in banks.

C To develop new mobile banking features.

D To ensure compliance with social media policies.

29.

As per the 2026 RBI cybersecurity framework, banks are required to implement robust measures for which of the following areas?

A Only customer complaint redressal.

B Third-party risk management and incident response.

C Exclusively mobile banking application security.

D Only compliance with international banking standards.

30.

In 2026, the Reserve Bank of India (RBI) announced an enhanced cybersecurity framework for banks. Which of the following is a key objective of this updated framework?

A To reduce the number of physical bank branches.

B To strengthen the resilience of banking systems against cyber threats and ensure data integrity.

C To promote the use of cryptocurrency for all banking transactions.

D To mandate the closure of all online banking services by 2027.