Daily Quiz — 28 Sep 2026

1. Q1.According to the article on UPI's decade-long disruption, what was the key factor behind UPI's success in transforming Indian payments?

   A single technological breakthrough by a major bankSustained, multi-institutional effort rather than any single breakthroughGovernment mandate to eliminate cheque-based paymentsRBI's decision to reduce transaction fees for digital payments
   Explanation: The book 'Cashless Nation' and reviewer Ananth Narayan emphasize that UPI's success resulted from sustained, multi-institutional effort rather than any single breakthrough, highlighting the collaborative nature of the achievement.

2. Q2.What is the current threshold for full National Pension System corpus withdrawal at age 60 under the PFRDA's June 2025 amendment?

   ₹5 lakh₹8 lakh₹10 lakh₹12 lakh
   Explanation: The PFRDA amendment increased the threshold for full NPS withdrawal at 60 from a lower limit to ₹8 lakh, allowing customers meeting this criterion to withdraw their entire corpus without mandatory annuity purchases.

3. Q3.Under SEBI's new PRIM (Portfolio Manager Route for Investing in Mutual Funds), what is the minimum investment threshold for customised portfolios?

   ₹10 lakh₹25 lakh₹50 lakh₹75 lakh
   Explanation: SEBI's PRIM route reduces the investment threshold from the conventional PMS minimum to ₹25 lakh, making portfolio management services accessible to a broader range of investors and advisers.

4. Q4.What penalty is imposed on a recurring deposit account for missing a monthly instalment?

   ₹1.00 per ₹100 of monthly contribution₹1.50 per ₹100 of monthly contribution₹2.00 per ₹100 of monthly contribution₹2.50 per ₹100 of monthly contribution
   Explanation: According to the article on recurring deposit penalties, missing an instalment triggers an immediate penalty of approximately ₹1.50 per ₹100 of the monthly contribution for each month of delay.

5. Q5.What percentage of UPI's transaction value is represented by person-to-person transfers, which remain exempt from the new Merchant Discount Rate charges?

   50 percent60 percent70 percent80 percent
   Explanation: The Supreme Court petition article notes that person-to-person transfers account for 70 percent of UPI's transaction value and remain exempt from charges, while the 0.4% MDR applies only to person-to-merchant transactions exceeding ₹2,000.

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