Daily Current Affairs for CA Foundation — 29 May 2026

Exam-ready economy and business knowledge for CA Foundation Paper 4. Today's focus: India's financial system and its regulators — a high-yield area for Business & Commercial Knowledge. Each item ends with a practice MCQ.

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1. Regulators of India's Financial System

Different segments of the financial system have different statutory regulators:

• RBI — banks and the monetary system.
• SEBI — securities markets (stock exchanges, mutual funds, listed companies).
• IRDAI — the insurance sector.
• PFRDA — pension funds (e.g., the National Pension System).

MCQ: Q1. Which body regulates the securities (stock) markets in India?

• (a) RBI
• (b) SEBI
• (c) IRDAI
• (d) PFRDA

Answer: (b) SEBI

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2. Types of Banks

India's banking system includes commercial banks (public sector, private sector, foreign and regional rural banks), cooperative banks, and small finance / payments banks. Scheduled banks are those listed in the Second Schedule of the RBI Act, 1934, and must meet certain capital and reserve requirements.

MCQ: Q2. "Scheduled banks" are those included in which schedule?

• (a) First Schedule of the Companies Act
• (b) Second Schedule of the RBI Act, 1934
• (c) Seventh Schedule of the Constitution
• (d) Third Schedule of the Banking Regulation Act

Answer: (b) Second Schedule of the RBI Act, 1934

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One-Liner Revision Section

1. RBI regulates banks and money; SEBI the securities markets.
2. IRDAI regulates insurance; PFRDA regulates pensions.
3. Scheduled banks: listed in the Second Schedule of the RBI Act, 1934.

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