Daily Quiz — 20 Jun 2026

1. Q1.According to the RBI's final Kisan Credit Card scheme guidelines, when has the implementation date been pushed to, and what was the primary reason cited?

   January 1, 2027, to allow lenders time to adapt at the field levelDecember 31, 2026, to expedite farmer access to creditFebruary 15, 2027, to align with the fiscal yearJanuary 1, 2027, to raise the collateral-free loan limit
   Explanation: The RBI explicitly stated the implementation date has been moved to January 1, 2027, to allow lenders sufficient time to adapt at the field level.

2. Q2.MPC external member Saugata Bhattacharya has identified which of the following as key inflationary risk factors since April 2026?

   Commodity supply shocks, deficient monsoon forecasts, and elevated energy prices from West Asia conflictRising wage inflation, excess liquidity, and rapid credit growthFiscal deficit widening, rupee depreciation, and import tariffsReal estate speculation, stock market volatility, and agricultural subsidies
   Explanation: Bhattacharya specifically cited commodity supply shocks, deficient monsoon forecasts, and persistently elevated energy prices tied to the West Asia conflict as intensified inflationary risks.

3. Q3.What new daily reporting requirement has the RBI mandated banks to comply with regarding its June 8 swap facility?

   Daily reporting of FCNR-B deposits and external commercial borrowing dataWeekly reporting of all non-resident account transactionsMonthly reporting of foreign direct investment inflowsQuarterly reporting of cross-border remittance patterns
   Explanation: The RBI has required daily reporting of Foreign Currency Non-Resident (FCNR-B) deposits and external commercial borrowing data to tighten oversight of the foreign currency inflow mechanism.

4. Q4.Which two entities are jointly promoting SBI Mutual Fund's ₹13,000 crore IPO through an offer for sale structure?

   State Bank of India and Amundi India HoldingState Bank of India and SEBIAmundi India Holding and Blackrock IndiaState Bank of India and Life Insurance Corporation
   Explanation: The IPO is structured entirely as an offer for sale by the two promoters: State Bank of India and Amundi India Holding, meaning existing shareholders are selling their stakes rather than the company issuing new shares.

5. Q5.According to PhonePe's new inactive wallet fee policy, which of the following activities would NOT prevent a wallet from being classified as inactive?

   UPI payments and bill paymentsDirect wallet recharge and gold purchasesWallet-to-wallet transfers and merchant transactionsInsurance premium payments and mutual fund investments
   Explanation: PhonePe explicitly stated that only wallet-specific transactions count as activity; UPI payments, bill payments, and app logins do NOT prevent the inactive status, meaning these activities are excluded from preventing the quarterly fee.

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