Daily Quiz — 10 Oct 2026

1. Q1.According to the RBI's Monetary Policy Report, what is the estimated impact on inflation if the rupee depreciates by 5%?

   Inflation would increase by 40 basis pointsInflation would decrease by 40 basis pointsInflation would increase by 25 basis pointsInflation would remain unchanged
   Explanation: The article explicitly states that a 5% rupee depreciation could lift inflation by 40 basis points while simultaneously boosting GDP growth by 25 basis points through export gains.

2. Q2.What key reform has the Chief Economic Advisor proposed regarding MSME lending?

   Extend the NPA classification period from 90 days to 180 days uniformlyAdopt MSME-tailored NPA classification norms separate from uniform 90-day rulesEliminate all NPA classifications for MSMEsReduce repo rates specifically for MSME lending
   Explanation: The CEA has called for MSME-specific NPA classification norms, arguing that the uniform 90-day overdue rule does not account for the diverse cash flow cycles of small businesses and that even SMA classification can disrupt MSME borrowers.

3. Q3.Following the RBI's 25 basis point repo rate hike, what was the highest revised fixed deposit rate offered by Shriram Finance, and for which maturity bucket?

   7.45% for 12–36 month maturity7.85% for 36–60 month maturity7.65% for 24–48 month maturity8.00% for 60+ month maturity
   Explanation: The article states that Shriram Finance raised fixed deposit rates by up to 40 basis points following the RBI's 25 basis point repo hike, with the highest revised rate of 7.85% applying to the 36–60 month maturity bucket.

4. Q4.Under the proposed GST refund expansion, within what timeframe will automated refunds of 90% be processed?

   Within 5 working daysWithin 3 working daysWithin 7 working daysWithin 10 working days
   Explanation: The article explicitly states that the GST overhaul includes automated 90% refunds within three working days, directly boosting liquidity and working capital for businesses, particularly contract manufacturers.

5. Q5.How much liquidity did the RBI drain from the banking system through the 3-day Variable Rate Reverse Repo auction announced for October 12, 2026?

   ₹1 lakh crore₹1.5 lakh crore₹2 lakh crore₹3 lakh crore
   Explanation: The RBI conducted a 3-day VRRR auction absorbing ₹2,00,000 crore (₹2 lakh crore) from the banking system, with the auction window running from 9:30 AM to 10:00 AM and reversal on October 15, 2026.

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