RBI Reforms & Digital Banking MCQs

1.

Which of the following is a mandatory operational requirement for Payment Aggregators (PAs) under RBI guidelines concerning the handling of customer funds?

A Maintaining all funds in a personal savings account.

B Investing customer funds directly in equity markets.

C Maintaining an escrow account with a scheduled commercial bank.

D Transferring all funds directly to the Reserve Bank of India.

2.

As per the RBI's updated guidelines for Payment Aggregators (PAs), what is the minimum net worth requirement that PAs must achieve and maintain by March 31, 2024, to obtain and retain authorization?

A ₹5 crore

B ₹10 crore

C ₹15 crore

D ₹25 crore

3.

What significant regulatory change did the RBI introduce for Digital Payment Aggregators (PAs) to bring them under direct oversight and enhance consumer protection?

A Mandatory authorization/licensing from the RBI.

B A complete ban on all digital payment transactions.

C Fixed transaction fees for all payment services.

D Direct control over the pricing strategies of merchants.

4.

Which entities bear the ultimate responsibility for ensuring compliance with the RBI's cybersecurity and data protection norms for digital lending, including those handled by Lending Service Providers (LSPs)?

A Only the Lending Service Providers (LSPs).

B Only the individual borrowers.

C The Regulated Entities (REs) that engage the LSPs.

D The Ministry of Finance, Government of India.

5.

Under the RBI's digital lending guidelines, which specific requirement is mandated for the storage of customer data collected by Regulated Entities (REs) and their Lending Service Providers (LSPs)?

A Data must be stored on cloud servers located anywhere globally.

B Data must be stored only in servers located within India.

C Data can be stored on physical servers only, not cloud-based.

D Data storage location is at the discretion of the LSP.

6.

What is the primary objective of the RBI's enhanced cybersecurity framework for digital lending, implemented to safeguard consumer interests?

A To ensure robust data protection and privacy for borrowers.

B To increase the speed of loan disbursals by digital lenders.

C To reduce the interest rates charged by digital lending platforms.

D To promote the entry of new fintech companies into the lending market.

Banking & Finance MCQs - 2026-10-26