Free · 10 questions · about 5 minutes

Daily Ten Saturday, 7 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 Priority sector

   Under RBI’s drafts of 5 Nov 2026, the overall priority sector target for urban co-operative banks stays at:

   1. A 40%
   2. B 75%
   3. C 60%
   4. D 50%
   Show the answer

   Answer: C. The UCB draft keeps the overall target at 60% of ANBC or CEOBSE, whichever is higher.

   Source: RBI draft directions of 5 Nov 2026 (Indian Cooperative)

2. Question 2 Priority sector

   Under RBI’s PSL drafts, a bank loan to an NBFC for on-lending counts as priority sector only when:

   1. A The NBFC has disbursed it to the end borrower
   2. B The NBFC signs a sanction letter
   3. C The loan is below ₹1 crore
   4. D The NBFC is listed
   Show the answer

   Answer: A. The drafts require disbursement by the NBFC to the PSL beneficiary, with funds staying in PSL assets.

   Source: RBI draft directions of 5 Nov 2026, as read by Vinod Kothari Consultants

3. Question 3 Cyber security

   RBI’s Master Directions of 5 Nov 2026 require non-bank payment operators to report a cyber incident to RBI within:

   1. A 2 hours
   2. B 24 hours
   3. C 72 hours
   4. D 6 hours
   Show the answer

   Answer: D. Incidents are to be reported within six hours of detection.

   Source: RBI Master Directions of 5 Nov 2026 (Business Standard)

4. Question 4 Cyber security

   For small non-bank payment operators, RBI’s cyber directions of 5 Nov 2026 apply from:

   1. A 1 January 2027
   2. B 1 April 2028
   3. C 1 April 2027
   4. D 31 March 2030
   Show the answer

   Answer: B. They take effect at once for large and medium operators and from 1 April 2028 for small ones.

   Source: RBI Master Directions of 5 Nov 2026 (Business Standard)

5. Question 5 BR Act

   Which section of the Banking Regulation Act, 1949 empowers RBI to issue directions to banks?

   1. A Section 35A
   2. B Section 12
   3. C Section 24
   4. D Section 49
   Show the answer

   Answer: A. Section 35A lets RBI give directions to banks, including in the public interest.

   Source: Banking Regulation Act, 1949, Section 35A

6. Question 6 SARFAESI

   SARFAESI enforcement is not available where the amount due is less than what share of the principal and interest?

   1. A 10%
   2. B 50%
   3. C 20%
   4. D 25%
   Show the answer

   Answer: C. Section 31(j) excludes cases where the amount due is less than 20% of the principal amount and interest.

   Source: SARFAESI Act, 2002, Section 31(j)

7. Question 7 Guarantee

   Which section of the Indian Contract Act, 1872 defines a contract of guarantee?

   1. A Section 124
   2. B Section 148
   3. C Section 171
   4. D Section 126
   Show the answer

   Answer: D. Section 126 defines a contract of guarantee and names the surety, the principal debtor and the creditor.

   Source: Indian Contract Act, 1872, Section 126

8. Question 8 NI Act

   A cheque crossed with two parallel lines and nothing else is:

   1. A Crossed specially
   2. B Crossed generally
   3. C Not negotiable
   4. D Payable to bearer only
   Show the answer

   Answer: B. Section 123 of the NI Act treats it as crossed generally, so it is paid through a banker.

   Source: Negotiable Instruments Act, 1881, Section 123

9. Question 9 BR Act

   Section 20 of the Banking Regulation Act, 1949 bars a bank from lending on the security of:

   1. A Its own shares
   2. B Government securities
   3. C Gold
   4. D Fixed deposits
   Show the answer

   Answer: A. Section 20(1)(a) says a banking company shall not grant loans or advances on the security of its own shares.

   Source: Banking Regulation Act, 1949, Section 20

10. Question 10 Limitation

    The usual limitation period to sue on a loan or promissory note is:

    1. A 1 year
    2. B 12 years
    3. C 5 years
    4. D 3 years
    Show the answer

    Answer: D. The Limitation Act, 1963 generally gives three years for such suits.

    Source: Limitation Act, 1963, Schedule