Daily Quiz — 26 Apr 2026

1. Q1.What specific action did Finance Minister Nirmala Sitharaman urge SEBI to lead, regarding customer verification across financial products?

   Creation of a unified, portable KYC framework eliminating repeated verificationIntroduction of a mandatory biometric authentication system for all investorsDevelopment of a centralised credit bureau for retail investorsImplementation of a single digital signature standard across all exchanges
   Explanation: Sitharaman called on SEBI to create a unified, portable KYC framework that would eliminate repeated verification across different financial products, streamlining the onboarding process for investors.

2. Q2.The RBI approved Emirates NBD Bank's acquisition of what percentage stake in RBL Bank, and at what valuation?

   60% stake for $3 billion51% stake for $2 billion74% stake for $3.5 billion60% stake for $2.5 billion
   Explanation: The Reserve Bank of India approved Emirates NBD Bank's acquisition of a 60% stake in RBL Bank for $3 billion, classifying RBL as a foreign bank subsidiary following the deal.

3. Q3.Under India's ₹10,000 crore Fund of Funds scheme for startups, which institution is designated as the initial implementation agency, and through which regulated vehicles will capital be channelled?

   SIDBI, through SEBI-registered Alternative Investment FundsNABARD, through SEBI-registered Venture Capital FundsSIDBI, through RBI-licensed Non-Banking Financial CompaniesDPIIT directly, through registered Startup Incubators
   Explanation: SIDBI is designated as the initial implementation agency for the second tranche of the Fund of Funds scheme, with capital channelled through SEBI-registered Alternative Investment Funds into DPIIT-recognised startups.

4. Q4.What was the duration and effective date of B Ramesh Babu's third RBI-approved term as MD & CEO of Karur Vysya Bank?

   Two-year term effective July 29, 2026Three-year term effective April 24, 2026Two-year term effective April 24, 2026One-year term effective July 29, 2026
   Explanation: The RBI approved B Ramesh Babu's reappointment for a third consecutive two-year term, effective July 29, 2026, with the central bank's approval granted on April 24, 2026.

5. Q5.According to the article on common SIP errors, which combination of mistakes most frequently erodes investor wealth in equity mutual funds?

   Stopping SIPs during downturns, not stepping up instalments, and chasing recent top performersOver-diversifying across fund houses, missing monthly deadlines, and investing in index fundsChoosing dividend reinvestment options, investing in small-cap funds, and missing step-up deadlinesRedeeming before one year, investing in sectoral funds, and ignoring expense ratios
   Explanation: The article identifies three primary SIP mistakes: stopping contributions during market downturns, failing to increase instalment amounts over time, and chasing recent top-performing funds — all of which reduce long-term wealth accumulation.

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