Daily Quiz — 16 Jul 2026

1. Q1.According to the RBI's draft guidance on third-party data risk, what is the primary accountability framework that banks and NBFCs must follow?

   Banks must retain full accountability for all data shared with third partiesThird-party vendors assume primary responsibility for data securityAccountability is shared equally between banks and their technology providersGroup entities automatically inherit accountability for their data exchanges
   Explanation: The RBI's draft guidance explicitly requires banks and NBFCs to retain full accountability for data shared with third-party vendors, technology providers, and group entities, rather than delegating responsibility. This represents a key shift in governance and risk management.

2. Q2.Union Bank of India's Q1FY27 net profit growth was primarily driven by which combination of factors?

   Higher net interest income, lower provisions, and disciplined cost managementIncreased loan disbursement and higher fee incomeLower non-performing assets and higher capital adequacy ratiosMerger synergies and expanded branch network
   Explanation: Union Bank reported a 29.54% YoY rise in net profit driven by three specific factors: higher net interest income, lower provisions, and disciplined cost management, as explicitly stated in their Q1FY27 results.

3. Q3.What structural reform is the Insolvency and Bankruptcy Board of India currently considering regarding resolution professionals?

   Separating resolution professionals from day-to-day management and assigning operational duties to a specialised entityMerging resolution professionals with company management for better coordinationEliminating the need for resolution professionals in all insolvency casesCreating a single unified resolution professional role for all company sizes
   Explanation: The IBBI is considering separating resolution professionals from day-to-day management of distressed companies, with operational duties assigned to a dedicated specialised entity. This proposal is in early discussion stages and would initially apply to large corporate insolvencies.

4. Q4.According to CareEdge Economics' projection, what factors will keep rate movements modest in the near term despite gradual easing?

   Competition for retail deposits and banks' margin preservation focusRising inflation expectations and RBI tightening biasIncreased corporate demand for credit and deposit outflowsRegulatory capital requirements and loan loss provisioning mandates
   Explanation: CareEdge projects that while rates will ease gradually as legacy high-cost deposits mature and liquidity remains comfortable, competition for retail deposits and banks' focus on margin preservation will constrain the pace of rate reductions.

5. Q5.What is the maximum coverage amount per risk provided by the Bharat Marine Insurance Pool, with claims beyond that threshold backed by sovereign guarantee?

   $100 million per risk with sovereign guarantee of ₹12,980 crore for excess claims$50 million per risk with sovereign guarantee of ₹10,000 crore$200 million per risk with unlimited sovereign backing$75 million per risk with sovereign guarantee of ₹15,000 crore
   Explanation: The Bharat Marine Insurance Pool, led by GIC Re and New India Assurance, covers up to $100 million per risk, with claims beyond that threshold backed by a sovereign guarantee of ₹12,980 crore, as demonstrated by the first live war-risk claim processed.

You didn't attempt this quiz.