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Economy & Business MCQs - 2026-07-21

1.
The expansion of digital payment infrastructure in India has also led to the growth of specific types of digital payment instruments. Which of the following has seen a significant surge in usage by July 2026?
A Paper cheques
B Demand Drafts
C Contactless payment cards and mobile wallets
D Money orders
2.
As of July 2026, which payment system, developed by the National Payments Corporation of India (NPCI), has become a dominant force in facilitating instant retail payments across India?
A NEFT (National Electronic Funds Transfer)
B RTGS (Real-Time Gross Settlement)
C UPI (Unified Payments Interface)
D IMPS (Immediate Payment Service)
3.
Which of the following initiatives, launched by the Indian government, has significantly contributed to the expansion of digital payment infrastructure in India by July 2026?
A National Rural Employment Guarantee Act (NREGA)
B Pradhan Mantri Jan Dhan Yojana (PMJDY)
C Make in India
D Swachh Bharat Abhiyan
4.
The RBI Monetary Policy Committee, in its July 2026 meeting, maintained its stance on the monetary policy. What was this stance?
A Accommodative
B Neutral
C Withdrawal of accommodation
D Hawkish
5.
Which of the following was a primary objective cited by the RBI MPC in its July 2026 review regarding its monetary policy stance?
A Aggressively reducing unemployment
B Ensuring price stability and anchoring inflation expectations
C Promoting rapid industrial expansion
D Reducing the fiscal deficit
6.
As per the RBI Monetary Policy Committee (MPC) review in July 2026, what was the status of the repo rate?
A Increased by 25 basis points
B Decreased by 15 basis points
C Maintained at the existing level
D Increased by 50 basis points
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