1. Fino Payments Bank became the first Payments Bank in India to receive RBI’s in-principle approval to convert into a ___?
A) Commercial Bank
B) Small Finance Bank
C) Universal Bank
D) Regional Rural Bank
Answer: B) Small Finance Bank
Explanation: RBI granted Fino Payments Bank approval to convert into an SFB, making it the first payments bank to receive such permission.
2. The Banking Laws (Amendment) Act, 2025 primarily aims to—
A) Introduce new taxes
B) Repeal nationalisation laws
C) Modernize and strengthen India’s banking regulatory framework
D) Privatize all PSBs
Answer: C) Modernize and strengthen India’s banking regulatory framework
Explanation: The Act improves governance, regulation and legal structure of Indian banking.
3. LIC recently entered into a bancassurance partnership with—
A) Axis Bank
B) Yes Bank
C) ICICI Bank
D) HDFC Bank
Answer: B) Yes Bank
Explanation: The partnership enables LIC to sell policies through Yes Bank’s network.
4. RBI’s revised Gold Metal Loan (GML) Directions will come into effect from—
A) 1 April 2025
B) 1 January 2026
C) 1 April 2026
D) 1 July 2026
Answer: C) 1 April 2026
Explanation: RBI notified that updated gold lending rules will be applicable from April 2026.
5. Punjab National Bank launched which premium RuPay credit card?
A) Royale Select
B) Ultra Premium
C) Luxura
D) PNB Platinum Elite
Answer: C) Luxura
Explanation: PNB introduced Luxura for high-value credit segment customers.
6. RBI revised LEF and ITE frameworks to clarify norms applicable to—
A) NBFCs
B) Foreign bank branches in India
C) Payment Banks
D) Cooperative Banks
Answer: B) Foreign bank branches in India
Explanation: The update defines prudential treatment for exposures of overseas banks operating in India.
7. Under amended Responsible Business Conduct Directions, banks must now provide BSBD account holders—
A) Free home branch transactions
B) Free IMPS transfers
C) Free debit card issuance and annual renewal
D) Unlimited cheque books
Answer: C) Free debit card issuance and annual renewal
Explanation: RBI made this mandatory for BSBD (Basic Savings Bank Deposit) accounts.
8. DHRUVA, proposed by the Department of Posts, refers to—
A) A drone delivery service
B) Digital Hub for Reference & Unique Virtual Address
C) A postal banking platform
D) India’s new express mail network
Answer: B) Digital Hub for Reference & Unique Virtual Address
Explanation: DHRUVA will serve as India’s nationwide
Month: Current Affairs - December 09, 2025
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