Banking GK Questions 2026

The Tenth Schedule was added by the Fifty-second Amendment in 1985 and it disqualifies a member of Parliament or of a state legislature who voluntarily gives up the membership of the party on whose ticket the seat was won, or who votes or abstains against the party direction; the Speaker…

The Constitution (Sixty-first Amendment) Act, 1988 amended Article 326 and lowered the qualifying age for a voter from twenty-one to eighteen years, and it took effect in March 1989, so the general election of 1989 was the first in which eighteen-year-olds voted.

The elephant is the reserved symbol of the Bahujan Samaj Party, founded by Kanshi Ram in 1984; because the elephant is also used by another party in Assam and Sikkim, the Election Commission allots it to the Bahujan Samaj Party elsewhere, a detail that shows how reserved symbols work under…

Article 324 places the superintendence, direction and control of the preparation of electoral rolls and the conduct of all elections to Parliament, to the state legislatures and to the offices of President and Vice-President in the Election Commission of India, and this is the Article the Commission relies on when…

Decimal coinage came into force on 1 April 1957 under the Indian Coinage Amendment Act, and the rupee, which had earlier been divided into sixteen annas, each of four pice or twelve pies, was divided into one hundred paise; the new coin was called the naya paisa until 1964, when…

Every banknote above one rupee is issued by the Reserve Bank under Section 22 of its Act and carries the promise to pay the bearer, signed by the Governor, which is why these notes are called promissory notes of the Bank.

On 19 May 2023 the Reserve Bank announced the withdrawal of the two thousand rupee note from circulation under its Clean Note Policy and asked banks to stop issuing it, while making it clear that the note was not being demonetised and would remain legal tender; holders were given a…

The notes of five hundred and one thousand rupees in the Mahatma Gandhi series ceased to be legal tender from the midnight of 8 November 2016, the stated purposes being action against unaccounted money, counterfeit currency and the financing of terrorism; a new five hundred rupee note and a two…

The High Denomination Bank Notes (Demonetisation) Act was passed in January 1978, when the Janata Party government led by Morarji Desai was in office, and it withdrew the notes of one thousand, five thousand and ten thousand rupees that had been reintroduced in 1954.

The rupee symbol was adopted by the Union Cabinet on 15 July 2010 after a public competition, and the winning design by D. Udaya Kumar, then a research scholar at the Indian Institute of Technology Bombay, joins the Devanagari letter ra with the Roman capital R and carries two parallel…

Bharatiya Reserve Bank Note Mudran Private Limited was set up in 1995 as a wholly owned subsidiary of the Reserve Bank and runs the two banknote presses at Mysuru in Karnataka and Salboni in West Bengal.

The mint of an Indian coin can be read from the small mark placed below the year of minting, and a five-pointed star stands for the Hyderabad mint.

An amendment of the Reserve Bank of India Act in 1956 replaced the proportional reserve system with the Minimum Reserve System, under which the Bank must hold assets worth two hundred crore rupees against the note issue, of which gold must be not less than one hundred fifteen crore rupees…

Section 24 of the Reserve Bank of India Act, 1934 permits banknotes of denominations up to ten thousand rupees, so a note of a higher value would need an amendment of the Act by Parliament.

The one rupee note is issued by the Government of India under the Coinage Act and carries the signature of the Finance Secretary, while every other denomination is a banknote issued by the Reserve Bank under Section 22 of its Act and carries the signature of the Governor.

Section 22 of the Reserve Bank of India Act, 1934 confers on the Reserve Bank the sole right to issue banknotes in India, and the Issue Department of the Bank keeps this function separate from its banking business.

Muhammad Yunus began lending very small sums to poor women in groups, without collateral, and the experiment became the Grameen Bank; he and the bank were awarded the Nobel Peace Prize in 2006, and the model was studied by every country that later took up microfinance.

The correct answer is A, the Ministry of Rural Development, which runs the mission to organise poor rural households, mainly women, into self-help groups, give each group a revolving fund and a community investment fund, federate the groups at village and cluster level and arrange bank credit with interest subvention.

Kudumbashree, which means prosperity of the family, was launched in 1998 as a poverty eradication and women's empowerment mission of the State government working through neighbourhood groups, area development societies and community development societies, and it is among the largest women's networks in the country.

The correct answer is B, Verghese Kurien, who built the dairy cooperative of Kaira district at Anand in Gujarat, known by the brand name Amul, and then carried the Anand pattern across the country through the National Dairy Development Board, whose Operation Flood began in 1970 and made India the…