Daily Quiz — 27 Aug 2026

1. Q1.According to the RBI research cited in the article on home ownership decisions, what is the recommended affordability threshold for housing costs as a percentage of household income?

   30% of household income25% of household income35% of household income40% of household income
   Explanation: The article explicitly states that RBI research benchmarks housing costs at 30% of household income as an affordability threshold for home purchases in India.

2. Q2.What was Jio Credit's gross assets under management (AUM) in the June quarter, and what was the year-on-year growth rate?

   ₹30,000 crore with 163% YoY growth₹25,000 crore with 150% YoY growth₹35,000 crore with 180% YoY growth₹20,000 crore with 200% YoY growth
   Explanation: According to the article on Jio Financial Services, Jio Credit's gross AUM surpassed ₹30,000 crore in the June quarter with a year-on-year growth rate of 163%.

3. Q3.How many public sector banks has India consolidated from to 12 as part of the bank consolidation process recommended by the EAC-PM?

   From 27 to 12From 35 to 12From 20 to 12From 40 to 12
   Explanation: The article on EAC-PM's bank consolidation calls clearly states that past mergers have reduced the number of public sector banks from 27 to 12.

4. Q4.Which credit bureau executive has been appointed as the next Chief Financial Officer of Bandhan Bank?

   Amol Joshi from TransUnion CIBILRajeev Mantri from Axis BankSashidhar Jagdishan from HDFC BankRajiv Kumar from RBI
   Explanation: The article on Bandhan Bank's CFO transition states that Amol Joshi, currently serving his notice period as CFO of TransUnion CIBIL, has been appointed as Bandhan Bank's next chief financial officer.

5. Q5.IRDAI under Chairman Ajay Seth recently imposed a business expansion restriction against four insurers for how long due to Expense of Management limit breaches?

   Six monthsThree monthsOne yearTwo years
   Explanation: According to the article on IRDAI's enforcement shift, four insurers were barred from opening new business locations for six months over Expense of Management limit breaches in FY25, marking the first such enforcement action by IRDAI.

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