Free · 10 questions · about 5 minutes

Daily Ten Thursday, 5 November 2026

Tap an answer to see if you are right and why. Some questions come from today’s Morning Brief, the rest from the promotion and JAIIB/CAIIB syllabus.

1. Question 1 Financial markets

   RBI’s Technical Consultative Committee for Financial Markets will meet at least:

   1. A Once a month
   2. B Once a quarter
   3. C Once every six months
   4. D Once a year
   Show the answer

   Answer: B. The committee is to meet at least once every quarter, under the Deputy Governor in charge of the Financial Markets Regulation Department.

   Source: RBI announcement, reported by ANI, 4 Nov 2026

2. Question 2 Loan pricing

   From 1 November 2026, PNB’s one-year MCLR is:

   1. A 8.70%
   2. B 8.80%
   3. C 8.90%
   4. D 8.95%
   Show the answer

   Answer: C. PNB raised MCLR by 10 basis points across tenors, taking the one-year rate from 8.80% to 8.90%.

   Source: PNB filing, reported by Moody’s on TradingView

3. Question 3 Bank deals

   Which body approved Kotak Mahindra Bank’s purchase of Deutsche Bank’s India retail business on 3 Nov 2026?

   1. A Competition Commission of India
   2. B SEBI
   3. C National Company Law Tribunal
   4. D IRDAI
   Show the answer

   Answer: A. The Competition Commission of India cleared the deal; it still has to close.

   Source: Kotak Mahindra Bank filing, reported by Business Standard, 3 Nov 2026

4. Question 4 Economy

   The VISTAR plan cleared by the Union Cabinet on 4 Nov 2026 is meant to modernise:

   1. A Rural roads
   2. B The power grid
   3. C Railway signalling
   4. D Official statistics
   Show the answer

   Answer: D. VISTAR has ₹4,371.10 crore for FY27 to FY31 to modernise India’s official statistical system.

   Source: Union Cabinet, 4 Nov 2026, reported by Business Today

5. Question 5 NI Act

   Which section of the Negotiable Instruments Act, 1881 defines a cheque?

   1. A Section 4
   2. B Section 6
   3. C Section 13
   4. D Section 138
   Show the answer

   Answer: B. Section 6 defines a cheque as a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.

   Source: Negotiable Instruments Act, 1881, Section 6

6. Question 6 NI Act

   Section 131 of the NI Act protects, when it acts in good faith and without negligence, the:

   1. A Drawer
   2. B Paying banker
   3. C Collecting banker
   4. D Endorser
   Show the answer

   Answer: C. Section 131 protects a banker who in good faith and without negligence receives payment of a crossed cheque for a customer.

   Source: Negotiable Instruments Act, 1881, Section 131

7. Question 7 KYC and AML

   Under the Prevention of Money Laundering Act, 2002, a bank keeps customer records for at least how long after the business relationship ends?

   1. A 5 years
   2. B 7 years
   3. C 8 years
   4. D 10 years
   Show the answer

   Answer: A. Section 12 of the PMLA requires records to be kept for five years after the business relationship has ended.

   Source: Prevention of Money Laundering Act, 2002, Section 12

8. Question 8 Payments

   Since when has NEFT been available 24x7?

   1. A December 2017
   2. B December 2019
   3. C December 2020
   4. D April 2021
   Show the answer

   Answer: B. NEFT moved to 24x7 on 16 December 2019. RTGS followed on 14 December 2020.

   Source: RBI press releases on NEFT and RTGS availability

9. Question 9 SARFAESI

   A borrower wants to challenge a bank’s action under Section 13(4) of the SARFAESI Act. Within how many days must the application reach the DRT?

   1. A 15 days
   2. B 30 days
   3. C 45 days
   4. D 60 days
   Show the answer

   Answer: C. Section 17(1) gives 45 days from the date the measures were taken.

   Source: SARFAESI Act, 2002, Section 17(1)

10. Question 10 BR Act

    Under Section 5(b) of the Banking Regulation Act, 1949, a bank accepts deposits from the public for the purpose of:

    1. A Insurance business
    2. B Trading in goods
    3. C Remittance only
    4. D Lending or investment
    Show the answer

    Answer: D. Section 5(b) defines banking as accepting, for lending or investment, deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise.

    Source: Banking Regulation Act, 1949, Section 5(b)