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Banking & Finance MCQs - 2026-04-04

31.
The RBI's new digital lending framework aligns with which recent Indian legislation concerning data privacy?
A Information Technology Act, 2000
B Digital Personal Data Protection Act, 2023
C Consumer Protection Act, 2019
D Reserve Bank of India Act, 1934
32.
The new RBI framework for digital lending imposes stricter eligibility criteria for Digital Lending Entities (DLEs). What is one such criterion mentioned?
A Mandatory listing on stock exchanges.
B Minimum net worth requirement for non-bank entities.
C Requirement to operate only through physical branches.
D Exemption from KYC norms for all DLEs.
33.
What is the significance of the standardized Key Fact Statement (KFS) introduced by the RBI?
A It is an optional document for borrowers to review.
B It provides borrowers with clear and concise information about loan terms, including APR and all-in-cost.
C It is primarily for internal auditing purposes of the lending institutions.
D It is a marketing tool to attract more borrowers.
34.
According to the new RBI framework, all digital loan disbursals and repayments must be routed through:
A Third-party payment gateways only.
B The bank accounts of the borrower and the regulated entity (RE).
C Digital wallets exclusively.
D Prepaid payment instruments issued by non-banks.
35.
Which of the following is a key objective of the RBI's new framework for digital lending announced on April 4, 2026?
A To encourage unregulated lending practices for faster credit access.
B To enhance consumer protection and ensure financial stability.
C To reduce the role of banks in digital lending operations.
D To promote the use of cryptocurrency for loan repayments.