Economy & Business MCQs

The RBI's 2026 guidelines mandate a cooling-off period of 48 hours for borrowers to withdraw from a digital loan agreement without incurring any penalty, providing them with a window to reconsider their decision.

A core principle of the RBI's 2026 digital lending guidelines is enhanced data privacy. Lenders must obtain explicit consent from borrowers before collecting any personal data, ensuring transparency and control over their information.

The RBI's 2026 guidelines mandate that Lending Service Providers (LSPs) must appoint a Chief Compliance Officer (CCO) responsible for ensuring adherence to regulatory requirements. Therefore, the appointment of a CCO is a mandatory requirement, making option B incorrect.

A successful 'Make in India' initiative is expected to boost domestic production, improve product quality, make Indian goods more competitive in international markets, and create significant employment opportunities across various sectors.

'Make in India' focuses on 27 key sectors, with a strong emphasis on advanced manufacturing, technology, and sectors with high employment potential like electronics, automotive, defense, and renewable energy.

The 'Make in India' initiative aims to encourage companies to manufacture their products in India and to incentivize investment into manufacturing, thereby transforming India into a global manufacturing and design hub.

When the RBI maintains the repo rate, it signals stability in the cost of funds for commercial banks, which in turn generally leads to stable or marginally changing lending rates for consumers and businesses.

The repo rate is the rate at which the Reserve Bank of India lends money to commercial banks in exchange for government securities. It is a key tool for controlling liquidity and inflation in the economy.

The RBI's primary mandate is price stability while keeping in mind the objective of growth. Maintaining the repo rate during economic growth often indicates a cautious approach to manage potential inflationary pressures without stifling the ongoing growth momentum.

Strong domestic consumption, increased private and public investment, and a favorable business environment are crucial drivers that can lead to an upward revision in GDP growth forecasts.