Free · 10 questions · about 5 minutes

Daily Ten Friday, 13 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 Economy

   India's retail (CPI) inflation for October 2026, released on 12 Nov, was:

   1. A 5.54%
   2. B 6.09%
   3. C 6.25%
   4. D 8.94%
   Show the answer

   Answer: B. MoSPI data show CPI inflation of 6.09% in October 2026, up from 5.54% in September; 8.94% is food inflation.

   Source: MoSPI CPI release, 12 Nov 2026

2. Question 2 Payments

   Under RBI's Domestic Money Transfer Directions, 2026, cash pay-out to a beneficiary without a bank account is capped per transaction at:

   1. A ₹5,000
   2. B ₹25,000
   3. C ₹50,000
   4. D ₹10,000
   Show the answer

   Answer: D. Cash pay-out through ATMs or business correspondents is capped at ₹10,000 a transaction and ₹25,000 per beneficiary a month.

   Source: RBI (Domestic Money Transfer) Directions, 2026, 11 Nov 2026

3. Question 3 Payments

   Under the same directions, a walk-in customer can send cash by NEFT from a bank branch up to:

   1. A ₹50,000
   2. B ₹10,000
   3. C ₹2 lakh
   4. D ₹25,000
   Show the answer

   Answer: A. Walk-in cash pay-in at a branch through NEFT to a beneficiary's bank account is allowed up to ₹50,000.

   Source: RBI (Domestic Money Transfer) Directions, 2026, 11 Nov 2026

4. Question 4 Economy

   Moody's Ratings' new forecast for India's growth in 2026-27 is:

   1. A 6.5%
   2. B 6.8%
   3. C 7%
   4. D 7.5%
   Show the answer

   Answer: C. In its Global Macro Outlook 2027-28 of 11 Nov 2026, Moody's raised the 2026-27 forecast to 7% from 6.5%.

   Source: Moody's Ratings, Global Macro Outlook 2027-28

5. Question 5 RBI policy

   How many members does RBI's Monetary Policy Committee have?

   1. A 4
   2. B 6
   3. C 5
   4. D 7
   Show the answer

   Answer: B. The MPC has six members: three from RBI, including the Governor as chair, and three appointed by the Central Government.

   Source: Section 45ZB, RBI Act, 1934

6. Question 6 RBI policy

   Who sets India's inflation target under Section 45ZA of the RBI Act?

   1. A The Monetary Policy Committee
   2. B RBI's Central Board
   3. C The Finance Commission
   4. D The Central Government, in consultation with RBI
   Show the answer

   Answer: D. Section 45ZA lets the Central Government, in consultation with RBI, set the inflation target once every five years.

   Source: Section 45ZA, RBI Act, 1934

7. Question 7 RBI policy

   The inflation target is treated as missed when average CPI inflation stays outside the 2–6% band for:

   1. A Three consecutive quarters
   2. B Two consecutive months
   3. C Six consecutive months
   4. D One full financial year
   Show the answer

   Answer: A. Failure is defined as average inflation above 6% or below 2% for three consecutive quarters; RBI must then report the reasons to the government.

   Source: Monetary Policy Framework rules under Section 45ZA, RBI Act, 1934

8. Question 8 Payments

   RBI regulates payment systems such as NEFT, IMPS and UPI under which Act?

   1. A Banking Regulation Act, 1949
   2. B FEMA, 1999
   3. C Payment and Settlement Systems Act, 2007
   4. D Information Technology Act, 2000
   Show the answer

   Answer: C. The Payment and Settlement Systems Act, 2007 empowers RBI to regulate and supervise payment systems in India.

   Source: Payment and Settlement Systems Act, 2007

9. Question 9 Payments

   Since December 2019, NEFT is available:

   1. A Only on bank working days
   2. B 24x7, all days of the year
   3. C From 8 am to 7 pm on working days
   4. D Only on weekdays
   Show the answer

   Answer: B. RBI made NEFT available round the clock on all days, including holidays, from 16 Dec 2019.

   Source: RBI press release, 6 Dec 2019

10. Question 10 KYC/AML

    Under the PMLA, banks must keep records of a customer's transactions for at least how long after the transaction?

    1. A Two years
    2. B Three years
    3. C Ten years
    4. D Five years
    Show the answer

    Answer: D. Section 12 of the Prevention of Money-laundering Act, 2002 requires records of transactions to be kept for five years from the date of the transaction.

    Source: Section 12, PMLA, 2002