MCQs - 2026-05

The primary objective of the PSB mergers was to consolidate smaller, weaker banks into larger, more robust entities capable of competing globally, improving efficiency, and enhancing their lending capacity.

The guidelines cover all Regulated Entities (REs) of the RBI (banks and NBFCs) and the Lending Service Providers (LSPs) engaged by them to extend digital loans. It aims to bring clarity and regulation to the entire digital lending ecosystem.

The RBI guidelines emphasize transparency by mandating the disclosure of the Annual Percentage Rate (APR) and providing a 'cooling-off' or 'look-up' period during which borrowers can exit the loan by paying the principal and proportionate APR without penalty.

The RBI guidelines mandate that the loan disbursement should be made directly from the Regulated Entity's (RE) account to the borrower's bank account, without any pass-through to the LSP's account.

The Ministry of Micro, Small and Medium Enterprises (MSME) is responsible for the implementation and expansion of the PM-Vikas scheme.

The expansion includes providing financial incentives and support for artisans to adopt modern tools and technologies to improve their product quality and market reach.

The PM-Vikas (Prime Minister's Vishwakarma Kaushal Samman) scheme focuses on upskilling and providing financial assistance to traditional artisans and craftsmen.

A primary goal is to equip women with the skills to navigate the digital world, thereby improving their access to essential government schemes and services.

While other ministries may be involved, the Ministry of Electronics and Information Technology (MeitY) is the nodal ministry for digital literacy programs.

The Nari Shakti Digital Literacy Initiative specifically targets rural women to enhance their digital literacy and access to online resources.