Daily Quiz — 27 May 2026

1. Q1.Which bank emerged as the standout mid-tier performer in credit card additions during April, adding 101,835 net new cards?

   Federal BankIndusInd BankICICI BankKotak Mahindra Bank
   Explanation: Federal Bank emerged as the standout mid-tier performer with 101,835 net new card additions in April, while industry-wide net additions slowed to 802,000.

2. Q2.What specific governance change did the RBI mandate for Urban Co-operative Banks (UCBs) to close a board tenure loophole?

   A three-year cooling-off period after ten continuous years of service before reappointmentA two-year cooling-off period after eight continuous years of service before reappointmentA permanent bar on reappointment after ten continuous years of serviceA five-year cooling-off period after twelve continuous years of service before reappointment
   Explanation: The RBI mandated a three-year cooling-off period before a director who has served ten continuous years can be reappointed to the same UCB board, closing a loophole where directors briefly resigned and were quickly re-elected.

3. Q3.According to the Economic Advisory Council to the Prime Minister's working paper on Priority Sector Lending (PSL), which of the following best describes PSL's impact?

   PSL reduces rural poverty but does not significantly boost district-level output growth over two yearsPSL significantly boosts district-level output growth but has no measurable impact on rural povertyPSL reduces rural poverty and significantly boosts district-level output growth over two yearsPSL has no measurable impact on either rural poverty or district-level output growth
   Explanation: The working paper found that PSL correlates with reduced rural poverty but does not significantly boost district-level output growth over a two-year horizon, and warned that top-down mandates forcing credit to the poorest districts are inefficient.

4. Q4.What approximate increase in ATM cash-loading operating costs has the Currency Cycle Association warned the Indian Banks' Association about in the near term?

   15–20%5–10%25–30%10–12%
   Explanation: The Currency Cycle Association warned that ATM cash-loading operating costs could rise 15–20% in the near term, driven by higher fuel prices, rising state minimum wages, and increased replenishment trips.

5. Q5.Which institution is leading the RBI's newly formed expert committee to assess quantum technology's potential and risks for the financial sector?

   IIT Madras, represented by Professor Anil PrabhakarNPCI, represented by its Chief Technology OfficerMeitY, represented by its SecretarySBI, represented by its Managing Director
   Explanation: The RBI's expert committee on quantum technology is convened by IIT Madras Professor Anil Prabhakar and includes senior representatives from SBI, NPCI, MeitY, and DSCI, with a mandate to report within six months.

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