MCQs: Banking & Finance Current Affairs Oct 2026

21.

The RBI's Annual Report 2026 highlighted a significant growth in which sector, contributing to the overall economic performance?

A Agriculture

B Services

C Manufacturing

D NEEDS_REVIEW

22.

Under the new digital lending framework effective from 2026, what is the maximum tenure for a loan that can be offered by a Digital Lending Entity (DLE) without prior RBI approval?

A 12 months

B 24 months

C 36 months

D NEEDS_REVIEW

23.

The RBI's updated digital lending guidelines in 2026 mandate that all loan disbursals and repayments must be conducted through which of the following channels?

A Directly between borrower and lender accounts

B Through bank accounts of the Digital Lending Entity (DLE)

C Through bank accounts of the Digital Lending App (DLA)

D NEEDS_REVIEW

24.

As per the enhanced digital lending framework released by the RBI in 2026, which of the following entities are now permitted to undertake digital lending activities?

A Only Scheduled Commercial Banks and NBFCs

B Scheduled Commercial Banks, NBFCs, and Payment Aggregators

C Scheduled Commercial Banks, NBFCs, and all registered entities with a financial services license

D NEEDS_REVIEW

25.

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.

26.

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

27.

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.

28.

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.

29.

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.

30.

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