Daily Quiz — 16 Sep 2026

1. Q1.According to Deutsche Bank analysts cited in the RBI Rate Hike Cycle article, what is the projected inflation level that could be breached before moderating in early 2027?

   6.5%5.5%7.0%4.82%
   Explanation: The article explicitly states that consumer price inflation climbed to 4.82% in August, with projections that it could breach 6.5% before moderating in early 2027.

2. Q2.What is the threshold transaction amount above which the new UPI Merchant Discount Rate of 0.4% will apply from October 15, 2026?

   ₹2,000₹1,000₹5,000₹10,000
   Explanation: The article clearly states that the MDR of 0.4% will be applied to person-to-merchant transactions above ₹2,000, with approximately 96% of such transactions remaining unaffected.

3. Q3.According to the Cersai expansion article, what is the name of the Central KYC system initiative being rolled out in phases that aligns with Cersai's expansion into financial risk analytics?

   Central KYC Records Registry 2.0Unified KYC PlatformNational KYC DatabaseRBI KYC Consolidation Framework
   Explanation: The article mentions that Cersai's expansion aligns with the phased rollout of the Central KYC Records Registry 2.0, which was announced in the FY26 budget as part of the government's push to streamline Know Your Customer norms.

4. Q4.By what factor did Indian mutual fund assets under management grow between March 2021 and March 2026?

   More than doubled (approximately 2.35 times)Tripled (3 times)Increased by 50%Increased by 75%
   Explanation: The article states that mutual fund industry assets under management more than doubled from ₹31.43 lakh crore in March 2021 to ₹73.73 lakh crore in March 2026, representing an increase of approximately 2.35 times.

5. Q5.According to the NCLT Mumbai bench ruling on IBC supremacy, what act's refund rights are subordinate to an insolvency resolution plan when there is a conflict?

   Real Estate Regulation and Development Act (RERA)Housing Finance Company Regulation ActConsumer Protection ActBuilding and Construction Regulation Act
   Explanation: The Financial Express article details that the NCLT ruled individual homebuyers cannot claim refunds under the Real Estate Regulation and Development Act (RERA) when those claims conflict with an approved insolvency resolution plan, as Section 238 of the IBC grants the tribunal overriding authority over RERA.

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