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Medium Free Competitive Exams Banking

Banking Current Affairs Quiz

Banking Current Affairs practice quiz covering Recent National & International Events, Appointments, Government Schemes, Awards and Important Banking & Financial News for competitive examinations.

50 Questions
No limit Duration
40% To pass
1.00 Marks / correct

Instructions

  • This quiz has 50 questions.
  • There is no time limit on this quiz.
  • You need 40% to pass.
  • There is no negative marking.
  • You can mark questions for review and return to them before submitting.
  • Correct answers and explanations are shown after you submit.

Sample Questions & Answers

A preview of 12 questions from this quiz, each with the correct answer and a written explanation. Attempt the full, timed quiz to be scored and earn XP.

  1. Question 1

    Which payment interface completed 10 years of operation in April 2026 and was highlighted by the Government as a backbone of India's digital payments ecosystem?

    • Unified Payments Interface (UPI) Correct answer
    • Bharat Bill Payment System (BBPS)
    • National Electronic Funds Transfer (NEFT)
    • Real Time Gross Settlement (RTGS)
    Explanation: UPI completed 10 years in April 2026 and was described by the Government as a backbone of India's digital payments ecosystem.
  2. Question 2

    According to the Government's April 2026 review, UPI transaction value exceeded which figure in FY 2025-26?

    • ₹314 lakh crore Correct answer
    • ₹31.4 lakh crore
    • ₹3.14 lakh crore
    • ₹1,314 lakh crore
    Explanation: The PIB reported that UPI transaction value exceeded ₹314 lakh crore in FY 2025-26.
  3. Question 3

    In July 2026, which country became connected with India through the Favara-UPI cross-border payment corridor?

    • Maldives Correct answer
    • Mauritius
    • Sri Lanka
    • Nepal
    Explanation: The Favara-UPI corridor between Maldives and India went live on 30 July 2026.
  4. Question 4

    What is the name of the Maldives instant payment system integrated with India's UPI in July 2026?

    • Favara Correct answer
    • Maaari
    • DigiPay
    • Raast
    Explanation: The Maldives Monetary Authority announced the go-live of the Favara-UPI integration on 30 July 2026.
  5. Question 5

    Which UPI service was extended by NPCI to international delegates at the India AI Impact Summit 2026?

    • UPI One World Correct answer
    • UPI Lite
    • UPI Circle
    • UPI AutoPay
    Explanation: NPCI extended the UPI One World wallet service to international delegates at the India AI Impact Summit 2026.
  6. Question 6

    For the India AI Impact Summit 2026 pilot, UPI One World was made available to delegates from approximately how many countries?

    • Over 40 Correct answer
    • Over 10
    • Over 20
    • Over 100
    Explanation: NPCI stated that the pilot was available to delegates from over 40 countries.
  7. Question 7

    What was the main payment use enabled by the UPI One World wallet for foreign visitors in India?

    • Person-to-Merchant UPI payments Correct answer
    • Only cash withdrawals
    • Only domestic bank transfers
    • Only stock-market payments
    Explanation: The wallet enabled seamless Person-to-Merchant UPI payments without an Indian mobile number or bank account.
  8. Question 8

    As reported for July 2026, how many banks were live on UPI?

    • 741 Correct answer
    • 703
    • 731
    • 720
    Explanation: A PIB August 2026 release reported 741 banks live on UPI as of July 2026.
  9. Question 9

    Which month in 2026 first saw UPI monthly transaction volume cross 2,300 crore, according to the Government's review?

    • May 2026 Correct answer
    • March 2026
    • June 2026
    • July 2026
    Explanation: UPI monthly transaction volume crossed 2,300 crore for the first time in May 2026, reaching about 2,320 crore.
  10. Question 10

    Which month recorded the highest monthly UPI transaction volume in the decade-long journey as reported in August 2026?

    • July 2026 Correct answer
    • May 2026
    • June 2026
    • August 2026
    Explanation: July 2026 recorded about 2,366 crore UPI transactions, the highest monthly volume reported at that point.
  11. Question 11

    What did the Government clarify in August 2026 regarding charges for consumers making UPI payments?

    • Consumers would not face transaction charges Correct answer
    • All consumers would pay a fixed MDR
    • P2P payments would attract a new fee
    • UPI would become subscription based
    Explanation: The Government clarified on 8 August 2026 that consumers making UPI payments would not face transaction charges.
  12. Question 12

    Under the August 2026 clarification, which type of UPI transactions would continue to be free of charge?

    • Person-to-Person transactions Correct answer
    • All high-value merchant transactions
    • Only international transactions
    • Only credit-card-funded transactions
    Explanation: The Government stated that all Person-to-Person UPI transactions would continue to be free of charge.

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Frequently Asked Questions

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