LIVE Access Mock Tests, PYP & AI Analytics for 375+ Exams! 7 Days Free Trial ₹99 Start Free Trial
Current Affairs & MCQs
Latest Questions, Daily Updates & More

Banking & Finance MCQs - 2026-10-08

1.
Which flagship government scheme, actively supported by the RBI, has been instrumental in providing basic banking accounts to millions of unbanked individuals, significantly contributing to financial inclusion by 2026?
A Make in India
B Swachh Bharat Abhiyan
C Pradhan Mantri Jan Dhan Yojana (PMJDY)
D Skill India Mission
2.
In the context of RBI's efforts to boost financial inclusion, what is a primary function of Payment Banks?
A Providing large corporate loans and foreign exchange services.
B Accepting deposits up to a certain limit and facilitating remittances and payments.
C Issuing credit cards with high credit limits to all customers.
D Primarily focusing on investment banking activities.
3.
Which of the following initiatives is primarily aimed at enhancing access to banking services in remote and unbanked areas, a key focus of RBI's financial inclusion drive towards 2026?
A Establishing more corporate bank branches in metropolitan cities.
B Promoting the Business Correspondent (BC) model.
C Limiting digital transactions to urban centers.
D Reducing the number of ATMs nationwide.
4.
Under the RBI's digital lending guidelines, what is a crucial requirement concerning data privacy and collection by digital lending apps?
A Apps can access all user data without explicit consent.
B Data collection must be need-based and with explicit consent, with an option to revoke.
C Data can be stored indefinitely on foreign servers.
D Borrowers have no control over their data usage.
5.
The primary objective behind the Reserve Bank of India's (RBI) new digital lending guidelines, implemented to safeguard borrowers in the evolving digital financial ecosystem, is to:
A Promote unregulated digital lending platforms.
B Enhance transparency and protect borrowers from unethical practices.
C Increase the number of digital lending apps without oversight.
D Allow LSPs to set their own interest rates independently.
6.
Which of the following is a key provision of the Reserve Bank of India's (RBI) digital lending guidelines, effective since 2022 and continuing to shape the digital lending landscape in 2026?
A Loans must be disbursed and repaid directly between the borrower and the Regulated Entity (RE).
B Lending Service Providers (LSPs) are allowed to disburse loans on behalf of REs.
C Digital lenders are exempt from KYC norms.
D There are no restrictions on automatic credit limit increases.
7.
Maintaining a high repo rate by the RBI typically has what effect on borrowing costs for commercial banks and, subsequently, for consumers and businesses?
A Decreases borrowing costs, stimulating economic growth.
B Increases borrowing costs, potentially curbing inflation.
C Has no significant impact on borrowing costs.
D Only affects government borrowing, not private sector.
8.
As of late 2024, which repo rate has the Reserve Bank of India (RBI) consistently maintained amidst persistent inflation concerns, influencing the economic outlook for 2026?
A 6.50%
B 6.25%
C 6.75%
D 7.00%
9.
What is the primary objective of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) when it decides to maintain the repo rate amidst inflation concerns?
A To achieve the inflation target while keeping growth in mind.
B To maximize government revenue.
C To ensure stable exchange rates only.
D To promote exports at all costs.
Home Exams Jobs Current Affairs Mock Tests