Daily Quiz — 23 Apr 2026

1. Q1.What was the repo rate held at by all six MPC members during the April 2026 meeting, and what was the primary reason cited for the unanimous pause?

   5.25%, due to a supply-driven external shock from the West Asia conflict6.00%, due to rising domestic inflation pressures5.50%, due to concerns over rupee depreciation and current account deficit5.25%, due to slowing GDP growth and weak domestic demand
   Explanation: All six MPC members unanimously held the repo rate at 5.25% in April 2026, citing a supply-driven external shock from the West Asia conflict threatening India's exports, energy costs, and supply chains.

2. Q2.Pay Point India's direct membership of RBI's Centralised Payment System (CPS) is significant primarily because it allows the fintech firm to:

   Access RTGS and NEFT independently without relying on partner banksIssue co-branded credit cards directly under the RBI licenceOperate as a scheduled commercial bank under the Banking Regulation ActParticipate in the Unified Payments Interface as a third-party app provider
   Explanation: Pay Point India became the first fintech to gain direct access to RTGS and NEFT without relying on partner banks, enabling lower transaction costs and greater settlement certainty for non-bank entities.

3. Q3.Debasish Panda, approved as the next chairman of Bandhan Bank, previously served as the chairman of which regulatory body?

   Insurance Regulatory and Development Authority of India (IRDAI)Securities and Exchange Board of India (SEBI)Pension Fund Regulatory and Development Authority (PFRDA)Insolvency and Bankruptcy Board of India (IBBI)
   Explanation: Debasish Panda is a former chairman of the Insurance Regulatory and Development Authority of India (IRDAI) and a 1987-batch IAS officer, approved by the RBI to lead Bandhan Bank.

4. Q4.According to ICRA's projections cited in the Financial Express article, which loan segments are most at risk from geopolitical pressures in FY27, and what is the projected Gross NPA ratio?

   MSME and retail unsecured portfolios; GNPA projected at 2.0–2.1%Corporate and infrastructure portfolios; GNPA projected at 3.5–4.0%Agriculture and priority sector portfolios; GNPA projected at 2.5–3.0%MSME and housing loan portfolios; GNPA projected at 1.5–1.8%
   Explanation: ICRA identified MSME and retail unsecured portfolios as most vulnerable to geopolitical stress in FY27, projecting the GNPA ratio to remain manageable at 2.0–2.1% despite potential erosion in return on assets and equity.

5. Q5.The Finance Ministry's proposed amendment to the Actuaries Act is expected to be introduced in which session of Parliament, and what is one key structural change it proposes?

   Monsoon session; allowing actuaries to form multi-disciplinary partnershipsBudget session; mandating actuarial audits for all listed companiesWinter session; transferring actuarial oversight from IRDAI to SEBIMonsoon session; creating a separate cadre of government actuaries under the Finance Ministry
   Explanation: The bill is expected in the monsoon session of Parliament and proposes to extend actuarial regulation beyond insurance and pensions, introduce oversight of actuarial firms, and allow actuaries to form multi-disciplinary partnerships.

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