Daily Quiz — 07 Aug 2026

1. Q1.According to the RBI's draft circular on NBFC revolving credit, which NBFCs are exempt from the proposed requirement to hold explicit central bank authorisation to issue credit cards?

   Already-authorised card-issuing NBFCs such as SBI Cards & Payment ServicesAll NBFCs with assets above ₹1,000 croreNBFCs that have been operating for more than 10 yearsNo NBFCs are exempt; all must obtain explicit authorisation
   Explanation: The article explicitly states that already-authorised card-issuing NBFCs such as SBI Cards & Payment Services are exempted from the new requirement, meaning they can continue offering revolving credit products without needing fresh authorisation.

2. Q2.What is PNB Housing Finance's targeted micro-housing loan book size by the end of FY27?

   ₹50 crore₹100 crore₹250 crore₹500 crore
   Explanation: The article clearly states that PNB Housing Finance targets a ₹100 crore micro-housing loan book by end of FY27, with disbursements set to accelerate now that its policy framework and employee training are in place.

3. Q3.According to Sebi's description, what does the newly launched Closing Auction Session (CAS) aim to strengthen in India's capital markets?

   Retail investor participation in equity marketsPrice discovery mechanismRegulatory oversight of derivatives tradingCross-border settlement efficiency
   Explanation: Sebi has described CAS as a significant step in strengthening India's price discovery mechanism, aligning the country with established practices in developed markets, although traders have raised concerns about sharp end-of-day price swings.

4. Q4.What is the total budget allocated for India's Samudra Manthan Programme for offshore oil and gas exploration through 2031?

   ₹50,000 crore₹84,084 crore₹1,00,000 crore₹2,00,000 crore
   Explanation: The article explicitly states that the Samudra Manthan Programme has been launched with a ₹84,084 crore budget through 2031 to de-risk offshore oil and gas exploration and reduce dependence on crude oil imports.

5. Q5.According to the article on UPI merchant fees, what MDR threshold on transactions above ₹2,000 is suggested as potentially adequate to compensate banks, payment service providers, and NPCI?

   Below 0.10%Below 0.25%Below 0.50%Below 1.00%
   Explanation: The Hindu Businessline article states that analysis suggests an MDR below 0.25% on transactions above ₹2,000 could adequately compensate banks, payment service providers, and NPCI, reviving the prospect of levying merchant fees on UPI transactions.

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