What is the primary objective of the Digital Payment Index (DPI) launched by RBI?
Answer: B
The Digital Payment Index measures and monitors the progress of digital payments in the country across various segments.
Q.122Medium
Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), what is the overdraft limit allowed?
Answer: B
PMJDY accounts are eligible for an overdraft facility up to ₹10,000 after maintaining the account properly.
Q.123Medium
What is the role of the Insolvency and Bankruptcy Board of India (IBBI)?
Answer: B
IBBI, established under the Insolvency and Bankruptcy Code 2016, regulates insolvency professionals and the resolution process.
Q.124Medium
Under Know Your Customer (KYC) norms, what is the validity period for re-KYC for high-risk customers?
Answer: A
As per RBI's 2024 KYC guidelines, high-risk customers require re-KYC verification every 2 years.
Q.125Medium
What is the current base rate structure replaced with?
Answer: A
RBI replaced the Base Rate system with MCLR in 2016 to make lending rates more transparent and responsive to policy changes.
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Q.126Medium
What is the maximum limit of deposits insured under DICGC?
Answer: B
The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides deposit insurance coverage of up to ₹5 lakh per depositor per bank, increased from ₹1 lakh in 2020.
Q.127Medium
Which committee is responsible for reviewing the regulatory framework for banks in India?
Answer: C
The Basel Committee on Banking Supervision sets international standards for bank capital adequacy. Basel III norms have been implemented in India by RBI for regulatory framework.
Q.128Medium
What is the primary role of the Monetary Policy Committee (MPC)?
Answer: B
The Monetary Policy Committee, headed by the RBI Governor, is responsible for fixing the Repo Rate and conducting monetary policy to achieve inflation control and growth.
Q.129Medium
What does the term 'Statutory Liquidity Ratio (SLR)' refer to?
Answer: B
SLR is the minimum percentage of deposits that commercial banks are required to maintain in the form of government securities and other approved securities with RBI.
Q.130Medium
Under the Pradhan Mantri Mudra Yojana (PMMY), who are the target beneficiaries?
Answer: B
PMMY targets non-corporate and non-farm small/micro businesses for collateral-free loans. It includes Shishu, Kishor, and Tarun loan schemes up to ₹10 lakh.
Q.131Medium
What is the significance of the CRR (Cash Reserve Ratio)?
Answer: B
CRR is the percentage of bank deposits that commercial banks are required to keep as cash reserves with the RBI without earning any interest.
Q.132Medium
What is the objective of the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
Answer: B
PMFBY provides comprehensive crop insurance coverage to farmers against crop failure due to natural calamities, pests, and diseases at affordable premiums.
Q.133Medium
What is the current Inflation Target set by RBI for monetary policy?
Answer: B
RBI's inflation target is 4% (Consumer Price Index) with an upper tolerance of 6% and lower tolerance of 2%, as per the RBI Act amendment.
Q.134Medium
What is the full form of SWIFT?
Answer: B
SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a secure international messaging system used for cross-border fund transfers.
Q.135Medium
Which of the following is NOT covered under the definition of a 'Non-Banking Financial Company' (NBFC)?
Answer: C
Commercial banks are not NBFCs. NBFCs are financial institutions that provide lending and other financial services but cannot accept deposits from the general public.
Q.136Medium
Which committee was constituted to review the regulatory framework for NBFCs in India?
Answer: B
The Usha Thorat Committee (2023) was constituted to review the regulatory framework for Non-Banking Financial Companies (NBFCs) in India.
Q.137Medium
As per DICGC norms (2024), what is the maximum deposit insurance coverage per depositor per bank?
Answer: A
The maximum deposit insurance coverage under DICGC is ₹5 lakhs per depositor per bank as per the current norms.
Q.138Medium
What does the term 'Statutory Liquidity Ratio (SLR)' refer to in banking?
Answer: A
SLR refers to the percentage of their deposits that commercial banks must maintain in the form of liquid assets like government securities.
Q.139Medium
Which of the following payment systems is operated by NPCI and is used for retail payments?
Answer: B
UPI (Unified Payments Interface) is operated by NPCI for retail payments. NEFT and RTGS are operated by RBI, while CHIPS is a US-based system.
Q.140Medium
What is the current policy repo rate set by RBI as of 2024-2025?
Answer: C
The RBI's policy repo rate stands at 6.5% as per the latest monetary policy decisions in 2024-2025.
