Source: BL Context The World Gold Council’s (WGC) 2026 Central Bank Gold Reserves (CBGR) survey indicates that central banks around the world would continue accumulating gold in the future. Over the past 4 years, central banks have accumulated an average of 1,000 tonnes of gold annually, double the 500-tonne average of the preceding decade. Indian gold prices have risen by about 40 per cent in 12 months, driven by central banks’ buying and rupee’s depreciation against the US dollar. The Reserve Bank of India (RBI) has been aggressively expanding its gold reserves, with total holdings rising from 822.1 tonnes in FY24 to 879.58 tonnes in FY25, and marginally to 880.52 tonnes in FY26. The survey was conducted 5 February to 19 May 2026, with most responses coming after the West Asia conflict began. The Survey Key Findings India’s Gold Reserves Period RBI’s Gold Reserves FY24 822.1 tonnes FY25 879.58 tonnes FY26 880.52 tonnes FY24 to FY26 increase ~58.4 tonnes Why Are Central Banks Buying Gold? About the World Gold Council (WGC) Global Top 10 Gold-Holding Central Banks (Approximate, Mid-2026) Rank Country Approximate Reserves (Tonnes) 1 United States 8,133 2 Germany 3,352 3 IMF (international body) 2,814 4 Italy 2,452 5 France 2,437 6 Russia 2,332 7 China 2,279+ (rising) 8 Switzerland 1,040 9 India 880.52 (FY26) 10 Japan 846 Why is Gold a Reserve Asset? Sovereign Gold Bonds (SGB) Gold Monetisation Scheme (GMS, 2015) Why Did RBI Increase Gold Reserves? Practice MCQs Q1. With reference to the WGC’s 2026 Central Bank Gold Reserves Survey, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; central banks remain VERY POSITIVE on gold and plan to increase holdings.) Q2. With reference to the World Gold Council (WGC), consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q3. With reference to India’s gold reserves and forex reserves, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; India holds 880.52 tonnes of gold in its forex reserves.) Q4. With reference to Sovereign Gold Bonds (SGB), consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q5. With reference to India’s position in global gold consumption and reserves, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; gold has deep cultural and religious significance in India.) Answer Key Exam Relevance Banking (RBI Gr B, SBI PO, IBPS, NABARD) Very high importance, RBI reserves, gold, forex, SGB, GMS RBI Grade B Core area on monetary policy, forex management, gold NABARD Grade A General awareness on financial sector

Source: Business Standard Context Marine war-risk insurance premiums, which had already started normalising following the launch of the Bharat Maritime Insurance Pool (BMIP), could soften further if the proposed US-Iran agreement leads to a sustained reopening of the Strait of Hormuz and a reduction in regional tensions. The war-risk premiums had shot up during the US-Iran conflict and the maritime blockade, but are now easing with the diplomatic resolution. The Bharat Maritime Insurance Pool (BMIP) is India’s indigenous mechanism to provide war-risk cover to Indian-flag shipping during geopolitical crises, reducing dependence on foreign reinsurance. The Recent Trend What is the Bharat Maritime Insurance Pool (BMIP)? What is War-Risk Insurance? Marine Insurance Categories India’s Marine Insurance Market About GIC Re (General Insurance Corporation of India) About IRDAI Practice MCQs Q1. With reference to marine war-risk insurance trends, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; war-risk insurance is a separate, specialised policy that covers risks not included in standard hull insurance.) Q2. With reference to the Bharat Maritime Insurance Pool (BMIP), consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; BMIP is an indigenous Indian mechanism, NOT a foreign one.) Q3. With reference to marine insurance categories, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; war-risk insurance is a SEPARATE specialised policy that covers risks NOT included in standard H&M marine insurance.) Q4. With reference to GIC Re, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; GIC Re is one of the top 10 reinsurers globally, NOT the largest. The world’s largest reinsurer is typically Munich Re or Swiss Re.) Q5. With reference to India’s shipping and maritime sector, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; India’s shipping sector is significantly integrated with global infrastructure (ports, insurance, reinsurance, fuel, etc.), NOT self-sufficient.) Answer Key Exam Relevance IRDAI Grade A Very high importance, BMIP, marine insurance, GIC Re, reinsurance

Source: Business Standard Context The Reserve Bank of India (RBI) has allowed lenders to assign a zero-risk weight to a significant portion of loans guaranteed under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, reducing capital requirements and potentially supporting credit growth under the programme. Exposures under ECLGS 5.0 will attract zero per cent risk weight for up to 75 per cent of the guaranteed portion. Crisil Ratings has said ECLGS 5.0 could increase the debt levels of rated corporates by around 10 per cent, as firms tap the facility to meet higher working capital requirements arising from the ongoing West Asia conflict. The RBI’s Move What is ECLGS? ECLGS Evolution Version Launched Purpose Coverage ECLGS 1.0 May 2020 COVID-19 relief, MSMEs and businesses Loans up to ₹3 lakh crore guarantee ECLGS 2.0 November 2020 Expanded to 26 stressed sectors and healthcare Increased coverage ECLGS 3.0 March 2021 Covered hospitality, travel, tourism Tenure increased to 6 years ECLGS 4.0 April 2021 Healthcare sector for oxygen, vaccines Specific to medical infra ECLGS 5.0 2026 West Asia conflict relief for affected businesses New iteration for current crisis Why ECLGS 5.0 Now? About NCGTC (National Credit Guarantee Trustee Company) What is a Risk Weight? What is Basel III? About Crisil Ratings Practice MCQs Q1. With reference to the RBI’s recent decision on ECLGS 5.0 exposures, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; the RBI allows zero per cent risk weight for up to 75 per cent of guaranteed exposure, NOT 100 per cent risk weight.) Q2. With reference to ECLGS, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q3. With reference to Basel III norms in India, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; India has implemented Basel III norms.) Q4. With reference to NCGTC, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q5. With reference to credit rating agencies in India, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; Crisil is a private credit rating agency majority owned by S&P Global, NOT a government body.) Answer Key Exam Relevance RBI Grade B Core area on banking regulation, capital adequacy

Source: Business Standard Context Markets regulator SEBI has issued guidelines to permit Alternative Investment Funds (AIFs) to retain liquidation proceeds beyond their permissible fund life under specified circumstances. The regulator has also introduced an “Inoperative Fund” framework for wound-up funds with residual obligations. The move follows amendments to the SEBI (Alternative Investment Funds) Regulations on 18 April 2026, aimed at providing operational flexibility to AIFs during the winding-up process and surrender of registration. Under the new framework, AIFs may retain proceeds if they receive litigation notices, obtain 75 per cent investor consent for anticipated liabilities, or need to meet residual operational expenses (capped at 3 years from the end of permissible fund life). The Guidelines Three Circumstances When AIFs Can Retain Proceeds 1. Litigation Notices or Regulatory Demands 2. Anticipated Liabilities (with Investor Consent) 3. Residual Winding-Up Operational Expenses Introduction of “Inoperative Fund” Status What is an Alternative Investment Fund (AIF)? Category I AIFs Category II AIFs Category III AIFs About SEBI SEBI’s Regulatory Framework for AIFs Practice MCQs Q1. With reference to SEBI’s recent guidelines on AIFs, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; retention for residual operational expenses CANNOT exceed 3 years from the end of permissible fund life.) Q2. With reference to AIFs in India, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; Category III AIFs require minimum investment of ₹1 crore and are for sophisticated investors, NOT retail investors.) Q3. With reference to the “Inoperative Fund” framework, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; the Inoperative Fund framework is for wound-up funds, NOT for new investment activity.) Q4. With reference to the AIF industry in India, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; AIFs are regulated by SEBI, NOT the RBI.) Q5. With reference to SEBI, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Answer Key Exam Relevance SEBI Grade A Very high importance, core area on SEBI, AIFs, capital markets

Context The Reserve Bank of India (RBI) has issued the Master Directions on Authorisation to Operate a Payment System, consolidating existing guidelines on the authorisation of Payment System Operators (PSOs). The directions, which come into effect immediately, provide a unified framework covering eligibility criteria, authorisation, perpetual validity of licences, voluntary surrender, and cooling-off requirements. New PSO authorisations will be perpetually valid, while existing operators may receive perpetual validity at renewal subject to regulatory compliance. The framework retains FATF-based restrictions on investment from non-compliant jurisdictions, capping aggregate voting rights below 20 per cent for such investors. Authorisation remains on-tap, allowing entities to apply throughout the year. The Framework Key Features Perpetual Validity of Licences On-Tap Authorisation Fit and Proper Criteria FATF Restrictions Voluntary Surrender of Authorisation Cooling-Off Period What is a Payment System Operator (PSO)? What is the Payment and Settlement Systems Act, 2007 (PSS Act)? India’s Payment Systems Landscape FATF-Based Restrictions in India’s Financial System What is NPCI? About RBI Why is This Important? Key Terms (Simple) Practice MCQs Q1. With reference to the RBI’s Master Directions on Authorisation to Operate a Payment System (June 2026), consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; the directions take effect immediately, NOT from 1 January 2027.) Q2. With reference to FATF-based restrictions under the new framework, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; the directions RESTRICT investment from FATF non-compliant jurisdictions.) Q3. With reference to the Payment and Settlement Systems Act, 2007 (PSS Act), consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q4. With reference to the Financial Action Task Force (FATF), consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; FATF’s current black list includes North Korea, Iran, and Myanmar, NOT the US or UK.) Q5. With reference to NPCI and India’s payment systems, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; NPCI is promoted by the RBI and IBA, NOT a private foundation.) Answer Key

Source: Business Standard Context The Reserve Bank of India (RBI) has tightened rules governing the sale of financial products by banks and other regulated entities. The final Responsible Business Conduct (Second Amendment) Directions, 2026 were released on 15 June 2026 and will come into effect from 1 January 2027. The amendments ban compulsory bundling of third-party products, mandate explicit customer consent, introduce a full refund mechanism for mis-selling, ban dark patterns in digital interfaces, expand the agent regulation scope to DSAs, DMAs, sub-agents, and TPPS representatives, and require upfront disclosure of fees, risks, lock-ins, and exit penalties. The framework also allows NBFCs to distribute insurance products without prior RBI approval, subject to IRDAI nod. This is a major shift to a prescriptive regulatory regime focused on customer protection. Ban on Compulsory Bundling Explicit Consent Protocol Mis-Selling Definition and Compensation No Employee Incentives From Third Parties Customer Feedback Mechanism Mandatory Upfront Disclosures Banks must clearly inform customers about: These must be disclosed BEFORE obtaining consent. Ban on Dark Patterns What is the Responsible Business Conduct Framework? What is a Bundled Product? What is a Third-Party Product or Service (TPPS)? What is Mis-Selling? What are Dark Patterns? India’s Financial Consumer Protection Architecture Allied Recent RBI Reforms Practice MCQs Q1. With reference to the RBI’s Responsible Business Conduct (Second Amendment) Directions, 2026, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; the directions explicitly BAN dark patterns and manipulative interfaces.) Q2. With reference to the mis-selling and compensation mechanism under the new RBI framework, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q3. With reference to the dark patterns banned by the RBI’s framework, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q4. With reference to the expanded agent scope under the new RBI framework, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; the agent regulation has been WIDENED to cover BCs, LSPs, sub-agents, and TPPS representatives.) Q5. With reference to NBFCs and insurance distribution under the new framework, consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; NBFCs are regulated by the RBI, NOT SEBI.) Answer Key Exam Relevance Banking (RBI Gr B, SBI PO, IBPS, NABARD) Very high importance, RBI norms, mis-selling, BC, LSP, DSA, dark patterns, bundling RBI Grade B Core area on banking regulation and consumer protection

Source: Business Standard Context: The Reserve Bank of India’s (RBI’s) concessional swap facility for Overseas Foreign Currency Borrowings (OFCBs) is expected to provide banks with a cheaper source of funding at a time of sluggish domestic deposit growth. The facility is available to all Authorised Dealer Category-I banks, including private-sector lenders, for OFCBs with a minimum maturity of 3 years. The swap is at a fixed rate of 1.5 per cent per annum, compounded semi-annually, until 31 December 2026. Banks save 200-250 bps compared to market hedging costs of 3.5-4 per cent, with OFCB funds 40-50 bps cheaper than domestic deposits of similar maturity. SBI estimates banks may raise USD 5-8 billion through the OFCB route in FY27. Banks can raise up to 100 per cent of their Tier 1 capital through this window. What is OFCB? What is ECB (External Commercial Borrowing)? What is a Currency Swap? Authorised Dealer Category-I (AD-I) Banks What is Tier 1 Capital? About Certificates of Deposit (CDs) and Commercial Papers (CPs) Practice MCQs Q1. With reference to the RBI’s OFCB Swap Facility, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None (Statement 4 is wrong; the minimum maturity is 3 years, NOT 1 month.) Q2. With reference to the cost and benefit of the OFCB swap facility, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Q3. With reference to the Indian banking system context (May-June 2026), consider the following statements: Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; the banking system has been facing significant funding pressure, with credit growth outpacing deposit growth by about 550 bps.) Q4. With reference to the broader RBI-government package for dollar inflows, consider the following statements: How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None Answer Key Exam Relevance Banking (RBI Gr B, SBI PO, IBPS, NABARD) Very high importance, OFCB, ECB, CD, CP, Tier 1 capital, AD-I banks RBI Grade B Core area on external sector and banking SEBI Grade A and IRDAI Grade A Capital markets and banking awareness