Free · 10 questions · about 5 minutes

Daily Ten Thursday, 12 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 NPA

   MTNL's overdue bank loans on 31 Oct 2026, as disclosed on 11 Nov, stood at about:

   1. A ₹981 crore
   2. B ₹9,812 crore
   3. C ₹98,120 crore
   4. D ₹1,812 crore
   Show the answer

   Answer: B. MTNL disclosed a default of ₹9,812.04 crore to seven public sector banks: ₹7,794.34 crore principal and ₹2,017.70 crore interest.

   Source: MTNL disclosure to stock exchanges, 11 Nov 2026

2. Question 2 Payments

   How many UPI transactions were processed on Diwali, 8 Nov 2026?

   1. A 91.7 million
   2. B 9.17 billion
   3. C 695.7 million
   4. D 916.9 million
   Show the answer

   Answer: D. NPCI data showed 916.9 million transactions on 8 Nov, up 32% from 695.7 million on Diwali last year.

   Source: NPCI data, reported 11 Nov 2026

3. Question 3 KYC

   SEBI's circular of 11 Nov 2026 asks intermediaries to build which tax reporting into their KYC and onboarding?

   1. A FATCA and CRS
   2. B GST e-invoicing
   3. C TDS on salaries
   4. D Securities transaction tax
   Show the answer

   Answer: A. Intermediaries must add FATCA and CRS reporting and due diligence to onboarding and KYC under the Income-tax Rules, 2026.

   Source: SEBI circular of 11 Nov 2026

4. Question 4 Payments

   When MDR applies to eligible UPI merchant payments, who pays it?

   1. A The customer
   2. B The merchant
   3. C NPCI
   4. D The Government of India
   Show the answer

   Answer: B. MDR is charged to the merchant for accepting the payment; person-to-person transfers carry no MDR.

   Source: NPCI UPI MDR FAQs, 15 Sep 2026

5. Question 5 NPA

   A term loan is classified as an NPA when interest or principal remains overdue for more than:

   1. A 30 days
   2. B 60 days
   3. C 90 days
   4. D 180 days
   Show the answer

   Answer: C. Under RBI's income recognition and asset classification norms, the test is overdue for more than 90 days.

   Source: RBI Master Circular on IRACP norms

6. Question 6 SARFAESI

   Under Section 13(2) of the SARFAESI Act, a borrower is given how long to discharge dues after the demand notice?

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

   Answer: D. The secured creditor's notice gives the borrower 60 days to pay before it can act under Section 13(4).

   Source: SARFAESI Act, 2002, Section 13(2)

7. Question 7 KYC/AML

   Banks must report cash transactions above what amount (or connected series in a month) to FIU-IND in the Cash Transaction Report?

   1. A ₹10 lakh
   2. B ₹2 lakh
   3. C ₹50,000
   4. D ₹1 crore
   Show the answer

   Answer: A. The PML Rules require reporting of cash transactions above ₹10 lakh, or integrally connected ones above ₹10 lakh in a month.

   Source: Prevention of Money-laundering (Maintenance of Records) Rules, 2005

8. Question 8 NI Act

   A cheque is valid for payment for how long from its date?

   1. A One month
   2. B Six months
   3. C Three months
   4. D One year
   Show the answer

   Answer: C. RBI reduced the validity of cheques, drafts and pay orders to three months from 1 April 2012.

   Source: RBI circular on validity of cheques, 4 Nov 2011

9. Question 9 NI Act

   Under Section 138 of the NI Act, after receiving the payee's notice of a dishonoured cheque, the drawer has how many days to pay before a complaint can be filed?

   1. A 7 days
   2. B 30 days
   3. C 60 days
   4. D 15 days
   Show the answer

   Answer: D. The payee's notice must be sent within 30 days of learning of dishonour, and the drawer then has 15 days to pay.

   Source: Negotiable Instruments Act, 1881, Section 138

10. Question 10 Deposits

    What minimum balance does a Basic Savings Bank Deposit Account (BSBDA) require?

    1. A ₹500
    2. B ₹1,000
    3. C None
    4. D ₹100
    Show the answer

    Answer: C. RBI's rules on BSBDA require no minimum balance.

    Source: RBI Master Direction on Interest Rate on Deposits / BSBDA instructions