Banking and Finance Current Affairs MCQs

1.

The RBI's new guidelines on digital banking security are a response to which growing concern in the financial sector?

A Decreasing adoption of digital payment methods

B Increasing instances of cyberattacks and financial fraud

C Low interest rates on savings accounts

D Limited availability of banking services in rural areas

2.

Which of the following is likely mandated by the new RBI guidelines for enhanced digital banking security?

A Mandatory use of biometric authentication for all online transactions

B Introduction of a new digital currency by banks

C Stricter Know Your Customer (KYC) norms for digital accounts

D Reduction in the number of ATMs across the country

3.

What is a key objective of the new RBI guidelines for enhanced digital banking security, effective from October 2026?

A To reduce the number of physical bank branches

B To increase the transaction limits for digital payments

C To strengthen customer protection against digital fraud and cyber threats

D To promote the use of cash for all transactions

4.

The decision to maintain the repo rate at 6.5% in October 2026 is primarily aimed at achieving which of the following objectives?

A Stimulating rapid economic growth at all costs

B Ensuring price stability while keeping in mind the objective of growth

C Reducing the fiscal deficit of the government

D Encouraging higher borrowing by public sector undertakings

5.

Which body within the RBI is responsible for deciding the policy repo rate?

A Board for Financial Supervision (BFS)

B Monetary Policy Committee (MPC)

C Executive Directors' Committee

D Department of Economic and Policy Research

6.

As per the RBI's Monetary Policy Committee review in October 2026, what is the current Repo Rate?

A 6.25%

B 6.50%

C 6.75%

D 7.00%

Banking & Finance MCQs - 2026-10-02