Daily Quiz — 10 Apr 2026

1. Q1.What is the minimum transaction threshold above which RBI has proposed a one-hour delay on UPI and IMPS transfers to combat payment fraud?

   ₹10,000₹25,000₹50,000₹1,00,000
   Explanation: The RBI's discussion paper proposes a one-hour hold specifically on account-to-account transfers above ₹10,000 to disrupt the psychological pressure tactics used in authorised push payment scams.

2. Q2.According to RBI's proposed digital payment safeguards, transactions above what amount would require trusted-person approval for customers aged 70 and above?

   ₹10,000₹25,000₹50,000₹1,00,000
   Explanation: The RBI's proposal specifically requires trusted-person approval for citizens aged 70 and above for transactions exceeding ₹50,000, adding a layer of protection for elderly users vulnerable to fraud.

3. Q3.How much time have banks been given by the RBI to comply with the same-business-day credit requirement for inward remittances?

   One monthThree monthsSix monthsTwelve months
   Explanation: The RBI has given banks six months to comply with the same-business-day credit requirement for inward remittances, while all other directives such as immediate customer notification and one-hour nostro reconciliation are effective immediately.

4. Q4.Which of the following correctly identifies the three entities reaffirmed as Domestic Systemically Important Insurers (D-SIIs) by IRDAI for FY26?

   LIC, New India Assurance, and Star Health InsuranceLIC, General Insurance Corporation, and New India AssuranceLIC, United India Insurance, and General Insurance CorporationLIC, HDFC Life, and New India Assurance
   Explanation: IRDAI reaffirmed LIC, General Insurance Corporation, and New India Assurance as D-SIIs for FY26, a designation they have held continuously since the framework was launched in 2015, subjecting them to enhanced regulatory oversight.

5. Q5.In the ₹550 crore IDFC First Bank fraud case registered by the CBI, which government body originally conducted the probe before transferring it to the CBI?

   Enforcement DirectorateHaryana State Vigilance and Anti-Corruption BureauSerious Fraud Investigation OfficeFinancial Intelligence Unit
   Explanation: The Haryana government's State Vigilance and Anti-Corruption Bureau originally handled the probe before transferring it to the CBI, which then registered an FIR in the embezzlement case involving funds allegedly diverted into shell entities.

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