Banking & Finance MCQs: Oct 7, 2026 Current Affairs Quiz

1.

Under the Digital Lending Guidelines, what is mandated regarding the disclosure of the Annual Percentage Rate (APR) to the borrower?

A APR disclosure is optional and depends on the lending platform's policy.

B Lenders must provide a Key Fact Statement (KFS) to the borrower before the execution of the loan contract, explicitly mentioning the APR.

C APR only needs to be disclosed upon the borrower's request after the loan has been disbursed.

D Only the nominal interest rate needs to be disclosed, not the comprehensive APR.

2.

Which of the following is a primary objective of the Digital Lending Guidelines issued by the Reserve Bank of India?

A To promote unregulated growth of digital lending platforms.

B To ensure fair lending practices, enhance transparency, and protect borrowers from unethical practices.

C To encourage foreign direct investment exclusively in the digital lending sector.

D To centralize all digital lending operations under a single government entity.

3.

What is a key mandatory provision under the RBI's Digital Lending Guidelines concerning loan disbursement and repayment?

A Loans must be disbursed directly into the borrower's bank account and repayments collected directly from the borrower's bank account.

B Lending Service Providers (LSPs) are allowed to disburse loans into their own accounts before transferring to the borrower.

C Cash disbursements are permitted for small-value digital loans.

D Repayments can be collected by third-party agents in cash at the borrower's doorstep.

4.

What is the current inflation target set by the Government of India for the Reserve Bank of India, which the MPC is mandated to achieve?

A 2% with a band of +/- 1%

B 4% with a band of +/- 2%

C 6% with a band of +/- 2%

D 5% with a band of +/- 1%

5.

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

A Five members

B Six members

C Seven members

D Eight members

6.

What is the primary objective of the Monetary Policy Committee (MPC) of the Reserve Bank of India, as mandated by the government?

A To maintain price stability while keeping in mind the objective of growth.

B To maximize government revenue through various financial instruments.

C To ensure high employment rates across all sectors of the economy.

D To manage the foreign exchange reserves for currency appreciation.

Banking & Finance MCQs - 2026-10-07