Daily Quiz — 21 Sep 2026

1. Q1.According to Jefferies' projection, what is the expected acceleration in India's earnings growth from FY26 to FY27, and which sector's lending growth is cited as a key indicator of reform dividends?

   14% to 17% acceleration, with SME lending growth of 24.9%12% to 15% acceleration, with corporate lending growth of 24.9%14% to 20% acceleration, with retail lending growth of 24.9%15% to 18% acceleration, with agricultural lending growth of 24.9%
   Explanation: Jefferies projects earnings growth to accelerate from 14% in FY26 to 17% in FY27, with SME lending growth of 24.9% signaling early benefits from GST, labour, and ease-of-doing-business reforms.

2. Q2.Which three critical issues does Deloitte flag as essential for the next generation of India's cross-border payment ecosystems?

   Fraud liability allocation, cross-border data sharing, and tokenised settlement governanceCompliance costs, digital currency adoption, and bilateral corridor agreementsKYC standardisation, settlement speed, and currency conversionBlockchain integration, API standardisation, and regulatory harmonisation
   Explanation: Deloitte identifies fraud liability allocation, cross-border data sharing, and tokenised settlement governance as three critical issues that must be addressed in designing India's next-generation cross-border payment architecture.

3. Q3.Despite an erratic monsoon described as the weakest in how many years, which two rural NBFCs posted strong Q1FY27 results?

   Mahindra & Mahindra Financial Services and L&T Finance; weakest in 17 yearsMahindra & Mahindra Financial Services and Bajaj Finance; weakest in 15 yearsL&T Finance and ICICI Securities; weakest in 20 yearsMahindra & Mahindra Financial Services and HDFC Bank; weakest in 10 years
   Explanation: Both Mahindra & Mahindra Financial Services (MMFS) and L&T Finance posted strong Q1FY27 results despite an erratic monsoon cycle described as the weakest in 17 years, with MMFS reporting a 75% YoY jump in consolidated net profit.

4. Q4.Under SEBI's proposed PMS and settlement reforms, what is the maximum percentage of client assets that discretionary managers would be allowed to allocate to investment-grade unlisted debt?

   10%5%15%20%
   Explanation: SEBI's proposed reforms would allow discretionary Portfolio Management Services managers to allocate up to 10% of client assets in investment-grade unlisted debt as part of a broader regulatory overhaul.

5. Q5.What is the primary reason that EPFO pensioners must maintain current bank account details with both their pension-paying bank and the EPFO?

   To ensure correct credit of monthly pension payments and avoid payment disruptionsTo comply with Know Your Customer guidelines updated in 2025To enable automatic tax deduction at source on pension incomeTo facilitate cross-border pension transfers for overseas residents
   Explanation: While a life certificate confirms a pensioner's existence, accurate and current bank account details are separately required to ensure the correct credit of monthly pension payments to avoid disruptions.

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