MCQs on RBI, Banking and Economy affairs JAN 2026

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Who chaired the first meeting of the Payments Regulatory Board (PRB) held in Mumbai?

Sanjay Malhotra
Shaktikanta Das
Urjit Patel
Nirmala Sitharaman

Explanation: The first meeting of the Payments Regulatory Board (PRB) was chaired by RBI Governor Sanjay Malhotra in Mumbai.

Skydo received final authorisation from the RBI to operate as which of the following?

Payment Aggregator-Cross Border (PA-CB)
Small Finance Bank
Payment Gateway
Non-Banking Financial Company

Explanation: Skydo received authorization from the RBI to operate as a Payment Aggregator-Cross Border (PA-CB).

What is the maximum compensation limit for time loss and mental anguish under the RBI Ombudsman Scheme?

Rs 3 lakh
Rs 5 lakh
Rs 10 lakh
Rs 30 lakh

Explanation: The Ombudsman can award compensation up to Rs 3 lakh for time loss, expenses incurred, and harassment or mental anguish.

Which foreign bank recently received in-principle approval from RBI to set up a Wholly Owned Subsidiary in India?

Sumitomo Mitsui Banking Corporation (SMBC)
Standard Chartered Bank
HSBC
Citibank

Explanation: RBI granted ‘in-principle’ approval to Sumitomo Mitsui Banking Corporation (SMBC), Japan, to set up a WOS in India.

According to an RBI report, which state will have 22.8% of its population above 60 years by 2036?

Kerala
Tamil Nadu
Maharashtra
Karnataka

Explanation: Kerala will have 22.8% of its population above 60 years by 2036, pushing focus on the “New Silver Economy”.

RBI and ESMA signed an MoU to allow CCIL to re-apply for recognition in which region?

European Union
United States
ASEAN
Middle East

Explanation: The MoU enables Clearing Corporation of India (CCIL) to re-apply for recognition in the European Union.

According to the RBI State Finances report, the consolidated Gross Fiscal Deficit (GFD) rose to what percentage of GDP in 2024-25?

3.3%
3.0%
4.1%
2.5%

Explanation: States’ consolidated GFD rose to 3.3% of GDP in 2024-25, crossing the 3% mark.

Payoneer India received in-principle authorization from RBI to operate as a:

Payment Aggregator – Cross Border
Payment Gateway
Neo Bank
Credit Rating Agency

Explanation: Payoneer India received in-principle approval to operate as Payment Aggregator – Cross Border (PA-CB).

Which fintech firm recently secured the Payment Aggregator-Physical (PA-P) license, completing the RBI regulatory trifecta?

Razorpay
PhonePe
Pine Labs
BharatPe

Explanation: Razorpay secured the PA-P license in January 2026, completing its regulatory trifecta.

The new Quarterly National Accounts (QNA) series will use which base year?

2022-23
2011-12
2017-18
2020-21

Explanation: The new QNA series is part of a major GDP series overhaul with 2022-23 as the base year.

What is the FY26 Real GDP growth projected by the Economic Survey 2025-26?

7.4%
6.8%
7.2%
8.0%

Explanation: The Economic Survey 2025-26 projects FY26 Real GDP growth at 7.4%.

According to the Economic Survey, the Bank GNPA ratio dropped to what level by Sept 2025?

2.2%
3.5%
4.0%
1.5%

Explanation: Bank GNPA ratio dropped to 2.2% by Sept 2025, marking a multi-decadal low.

According to Ipsos India, what is India’s global rank in consumer sentiment?

Explanation: India ranked 2nd globally (just behind Indonesia) in consumer sentiment with a score of 60.7.

How much Foreign Direct Investment (FDI) did India receive in the past six months leading up to National Startup Day?

USD 51 billion
USD 25 billion
USD 40 billion
USD 65 billion

Explanation: India received USD 51 billion in FDI over the past six months.

Which organization was recognized as a Self-Regulatory Organisation (SRO) for Authorised Dealers by the RBI?

FEDAI
FIMMDA
IBA
AMFI

Explanation: The Foreign Exchange Dealers’ Association of India (FEDAI) was recognized as an SRO for Authorised Dealers.

To what percentage did the IMF upgrade India’s FY25-26 GDP growth projection?

7.3%
6.6%
7.5%
6.8%

Explanation: The IMF upgraded India’s GDP growth projection to 7.3% for FY 2025-26.

Which core sector recorded the highest growth in December 2025?

Cement
Steel
Electricity
Coal

Explanation: Cement recorded the highest YoY growth at +13.5% among the core sectors in December 2025.

What was the retail inflation (CPI) recorded in December 2025?

1.33%
2.5%
3.8%
5.22%

Explanation: Retail inflation (CPI) rose slightly to a 3-month high of 1.33% in December 2025, but remained well below the RBI’s 4% target.

Which country overtook India to become the 2nd largest buyer of Russian fossil fuels?

Turkiye
China
Japan
Germany

Explanation: Turkiye overtook India to become the 2nd-largest purchaser, pushing India to 3rd place.

To what percentage did the World Bank raise India’s FY27 growth forecast?

6.5%
7.2%
6.8%
7.0%

Explanation: The World Bank upgraded India’s FY27 growth forecast to 6.5%.

Which Gramin Bank introduced India’s first solar-powered ATM van?

Tripura Gramin Bank
Kerala Gramin Bank
Baroda UP Bank
Assam Gramin Vikash Bank

Explanation: Tripura Gramin Bank became the first Gramin Bank in India to introduce a solar-powered ATM van.

What is the central fiscal deficit as a percentage of the full-year Budget Estimate at the end of Nov 2025?

62.3%
50.6%
45.0%
75.2%

Explanation: The Centre’s fiscal deficit stood at Rs 9.77 lakh crore, which is 62.3% of the full-year Budget Estimate.

What is the new extended deadline for the ESIC SPREE 2025 scheme?

31 January 2026
31 December 2025
31 March 2026
30 April 2026

Explanation: ESIC has extended SPREE 2025 by one month, making the new validity till 31 January 2026.

What is the Central Silk Board’s target value for India’s silk value chain by 2030?

Rs 1.1 lakh crore
Rs 55,000 crore
Rs 2 lakh crore
Rs 5,000 crore

Explanation: The Central Silk Board aims to double the value chain from Rs 55,000 crore to Rs 1.1 lakh crore by 2030.

Under the Export Promotion Mission, the Credit Guarantee limit for Micro & Small exporters is up to:

85%
65%
50%
100%

Explanation: The guarantee limit under the scheme is up to 85% for Micro & Small exporters, and 65% for Medium exporters.

Which indirect tax collection registered a sharp decline of 7.3% in April-November 2025?

Customs Duty
CGST
Union Excise Duty
SGST

Explanation: Customs duty collections fell by 7.3% during April-November 2025 due to tariff rationalisation.

The HSBC India Services PMI fell to what level in December 2025, an 11-month low?

58.0
59.8
55.5
50.0

Explanation: The Services PMI fell to 58 in December, marking the lowest level since January 2025.

Which ratings agency projected India’s FY27 as a “Goldilocks phase” with a 6.9% growth?

Ind-Ra
CRISIL
ICRA
CARE Ratings

Explanation: India Ratings and Research (Ind-Ra) sees FY27 as a Goldilocks phase, projecting 6.9% growth.

According to the NSO’s First Advance Estimates, what is the projected nominal GDP growth for FY26?

8.0%
7.4%
6.5%
9.5%

Explanation: The NSO estimated real GDP growth at 7.4% and nominal GDP growth at 8.0%.

In H1 FY26, FDI in the IT sector doubled to reach what amount?

USD 9 billion
USD 5 billion
USD 15 billion
USD 12 billion

Explanation: FDI into IT (Computer Software & Hardware) doubled to USD 9 billion, pushing its sectoral share to 25%.

Which southern state surged to 2nd place in receiving FDI in H1 FY26?

Karnataka
Tamil Nadu
Telangana
Kerala

Explanation: Karnataka surged to 2nd place with USD 9.4 bn, largely driven by IT sector inflows.

The proposed India-EU Free Trade Agreement covers approximately what percentage of global GDP?

Explanation: The India-EU FTA covers nearly one-third of humanity and accounts for ~25% of global GDP.

What is the total investment commitment made under the EFTA-India agreement?

USD 100 billion
USD 50 billion
USD 20 billion
USD 200 billion

Explanation: The EFTA-India agreement includes a USD 100 billion FDI commitment.

What inflation target is the government likely to retain for the RBI?

Explanation: The Govt is likely to retain the 4% inflation target (with a 2-6% tolerance band) for the RBI.

PFRDA recently allowed which of the following to sponsor pension funds under the NPS?

Banks
Insurance Companies
NBFCs
Foreign Portfolio Investors

Explanation: PFRDA has allowed banks to sponsor pension funds to manage money under the NPS.

The Credit Guarantee Scheme for Exporters (CGSE) was operationalized through which portal?

Jan Samarth Portal
Udyam Portal
e-Shram Portal
Niryat Portal

Explanation: CGSE was made operational through the Jan Samarth Portal w.e.f 1 December 2025.

Which global bond index decided NOT to include Indian government bonds for now?

Bloomberg Global Aggregate Index
JPMorgan Emerging Market Index
FTSE Russell Index
MSCI Emerging Markets Index

Explanation: Indian govt bonds will not be included in the Bloomberg Global Aggregate Index for now due to operational gaps.

SEBI proposed allowing Foreign Portfolio Investors (FPIs) to do what on the same day?

Net funds across cash market transactions
Short sell mutual funds
Trade in commodity derivatives
Bypass KYC norms

Explanation: SEBI proposed allowing FPIs to net funds across cash market transactions executed on the same day.

Under the new Mutual Fund regulations, the Base Expense Ratio (BER) is based on what?

Performance
Total AUM
Number of Investors
Duration of investment

Explanation: The new frame