MCQs 2026

Regulated Entities must provide a KFS to the borrower before the execution of the contract, which includes the APR, terms, and conditions of the loan.

A cooling-off/look-through period is provided where borrowers can exit the digital loan by paying the principal and proportionate APR without any penalty.

RBI mandates that all loan flows must be between the bank accounts of the borrower and the Regulated Entity (RE) without any third-party pool account.

The NCF for the Foundational Stage emphasizes 'Play-way' methods, including storytelling, toys, music, and art, rather than formal textbooks and exams.

The NCF was developed by a National Steering Committee chaired by Dr. K. Kasturirangan, who also headed the drafting committee of NEP 2020.

The NCF for the Foundational Stage is designed for children aged 3 to 8 years, covering preschool to Grade 2, as per NEP 2020.

UPI Lite enables small-value transactions without using a UPI PIN, processing them through an on-device wallet, which reduces the load on the banking system.

While the per-transaction limit was increased to ₹500, the overall limit for the UPI Lite wallet remains at ₹2,000 to mitigate risks.

The Reserve Bank of India and NPCI increased the per-transaction limit for UPI Lite from ₹200 to ₹500 to promote digital payments.

The goal is to achieve saturation of health services, making villages 'Ayushman Gram' by ensuring every eligible person has an Ayushman card and access to screenings.