MCQs - 2026-05

Miguel Gomes won the Best Director award for his film 'Grand Tour' at the 77th Cannes Film Festival.

American filmmaker Greta Gerwig was the President of the Jury for the 77th Cannes Film Festival.

The Palme d'Or at the 77th Cannes Film Festival was awarded to Sean Baker's film 'Anora'.

Retail CBDC aims to provide a digital alternative to cash, potentially leading to greater financial inclusion by reaching unbanked populations and enhancing the resilience, efficiency, and innovation of the payment system.

The Reserve Bank of India has officially named its Central Bank Digital Currency as 'e₹' or 'e-Rupee'.

The RBI is piloting two versions of the e-Rupee: e₹-W (Wholesale) for interbank settlements and e₹-R (Retail) for general public use.

The Monetary Policy Committee (MPC) is a six-member committee, headed by the RBI Governor, that is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to achieve the inflation target.

An increase in the Repo Rate makes borrowing more expensive for commercial banks, which in turn leads to higher lending rates for consumers and businesses. This reduces money supply, curbs demand, and helps in bringing down inflation, but can also slow down economic activity.

The Repo Rate is the key policy rate at which the RBI lends money to commercial banks, and it is the primary tool used to influence liquidity and control inflation.

The cooling-off period allows borrowers to exit the loan by repaying the principal amount without any penalty or charges within a specified period, typically 1-3 days, if they decide not to proceed with the loan.