Daily Quiz — 04 Jul 2026

1. Q1.According to IRDAI's commission reform plan, what is the primary structural change being proposed to curb mis-selling in India's insurance market?

   Shifting from large upfront payments to commissions spread over a policy's lifetimeEliminating all commission-based compensation in favor of fixed salariesReducing insurance agent licensing requirementsCapping the total number of policies an agent can sell annually
   Explanation: IRDAI plans to shift from large upfront commission payments to commissions spread over a policy's lifetime, which reduces the incentive for agents to mis-sell policies for short-term commission gains.

2. Q2.Which small finance bank is currently offering the highest FCNR-B deposit rate in India, and at what percentage?

   Ujjivan Small Finance Bank at 7.5%AU Small Finance Bank at 7.2%Fincare Small Finance Bank at 6.8%Bandhan Bank at 7.0%
   Explanation: Ujjivan Small Finance Bank is offering the highest FCNR-B rate in the country at 7.5 percent, as part of the surge in rates by small finance banks to attract NRI deposits.

3. Q3.What key percentage decline in priority sector export credit has FIEO reported, and what risk does this pose to MSME exporters?

   14% decline, causing acute liquidity stress8% decline, causing moderate growth constraints20% decline, causing complete market exit5% decline, causing minor operational delays
   Explanation: FIEO flagged a 14 percent decline in priority sector export credit, warning of acute liquidity stress for MSME exporters who depend on this funding for operations.

4. Q4.Under SEBI's new auto-pledge framework for unpaid client securities, what is the dedicated account called that secures brokers' recovery rights?

   Client Unpaid Securities Pledgee Account (CUSPA)Broker Recovery Securities Account (BRSA)Unpaid Client Collateral Account (UCCA)Investor Protection Securities Fund (IPSF)
   Explanation: SEBI introduced a Client Unpaid Securities Pledgee Account (CUSPA) mechanism that secures brokers' recovery rights while credits shares to investors' demat accounts.

5. Q5.According to the RBI weekly reserve data, what was the primary driver of India's foreign exchange reserve decline of $5.65 billion as of June 26, 2026?

   A $5.39 billion drop in gold holdingsA $4.2 billion decline in foreign currency assetsA $3.8 billion reduction in SDR allocationsA $5.65 billion outflow in NRI deposits
   Explanation: The RBI data shows that a $5.39 billion drop in gold holdings was the primary driver of the $5.65 billion total decline in foreign exchange reserves, indicating gold price fluctuations or revaluation impacts.

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