Daily Quiz — 22 Jun 2026

1. Q1.According to the RBI's new guidelines, what is the primary concern being addressed regarding bank practices?

   Mis-selling and dark patterns in pushing financial products on customersExcessive charging of service fees on savings accountsInadequate capital reserves held by public sector banksDelays in processing government account transfers
   Explanation: The RBI guidelines specifically target mis-selling and dark patterns where banks push insurance policies, mutual funds and investment products on customers who may not need or understand them.

2. Q2.What is the current market capitalisation of State Bank of India according to Chairman C S Setty's valuation argument?

   ₹9.56 lakh crore₹8.75 lakh crore₹10.5 lakh crore₹12.25 lakh crore
   Explanation: The article explicitly states that SBI's current market capitalisation is ₹9.56 lakh crore, which Setty argues does not fully reflect the bank's improving financials and digital transformation.

3. Q3.What key change does the IBC Amendment Act 2026 make regarding Section 7(5)?

   It grants the NCLT absolute discretion to reject applications even after defaults are confirmedIt makes admission of insolvency applications mandatory once a default is establishedIt extends the timeline for NCLT decisions to two yearsIt transfers all insolvency cases to the Supreme Court
   Explanation: The amendment removes discretionary language and makes it mandatory for the NCLT to admit insolvency applications once a default is established, effectively overturning the Supreme Court's Vidarbha Industries ruling that had allowed discretion.

4. Q4.What amount of fraud triggered the government's directive for PSB security overhaul in government accounts?

   ₹250 crore₹590 crore₹750 crore₹1,000 crore
   Explanation: The article specifies that a ₹590 crore fraud in Haryana government accounts held at IDFC First Bank's Chandigarh branch prompted the government's directive to tighten scrutiny of government accounts.

5. Q5.According to the Axis Mutual Fund report, what was the growth rate of Nifty 500 aggregate earnings in Q4 FY26 and which sectors led the gains?

   12% earnings growth with IT and banking sectors leading16% earnings growth with retail, real estate and automobile sectors leading20% earnings growth with manufacturing and energy sectors leading10% earnings growth with pharmaceutical sectors leading
   Explanation: The report shows Nifty 500 earnings rose 16% year-on-year in Q4 FY26 with sales growth hitting 12% (strongest in 13 quarters), with retail, real estate and automobile companies leading sectoral gains.

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