Banking GK Questions 2026

The NPCI, set up in 2008 under the Payment and Settlement Systems Act of 2007 by the Reserve Bank and the Indian Banks' Association, launched UPI in 2016; it also runs RuPay, IMPS, the Aadhaar Enabled Payment System, NACH and FASTag.

The NCIIPC was designated under section 70A of the IT Act to protect critical information infrastructure, meaning computer resources whose incapacitation would have a debilitating effect on national security, the economy, public health or safety, and it works as a unit of the NTRO.

The Indian Computer Emergency Response Team functions under the Ministry of Electronics and Information Technology and is designated by section 70B as the national agency for collecting and analysing information on cyber incidents, issuing advisories and coordinating responses.

In 2015 the Supreme Court held section 66A, which punished the sending of offensive messages through a communication service, to be unconstitutional because it was vague and overbroad and violated the freedom of speech under Article 19(1)(a).

These are the three goals of information security: only authorised persons should read the data, the data must not be altered without authority, and the system must work when it is needed.

It gives legal recognition to electronic records and digital signatures, creates the offences of computer-related crime, and was amended substantially in 2008 to add provisions on cyber terrorism, interception and data protection by body corporates.

The Department of Economic Affairs in the Ministry of Finance notifies the rates at the start of every quarter, and since the Shyamala Gopinath Committee reported in 2010 the rates are linked to the yields on government securities of comparable maturity, with a spread for some schemes.

The fund was created in 1999 in the Public Account of India, all small savings collections flow into it, and the Centre and the States draw loans from it, which is why small savings are treated as a source of government borrowing.

The Kisan Vikas Patra is sold as a certificate that doubles the amount invested over a period notified by the government, and that period moves up or down as the interest rate is revised.

The eighth issue of the National Savings Certificate is a five-year certificate on which interest is compounded annually and paid along with the principal when it matures, and deposits in it qualify for deduction under section 80C. Option A, three years, is wrong; three years is one of the terms…

The scheme, which began in 2004, is open to an individual who has attained sixty years, and it has a term of five years that can be extended by three years, with interest paid every quarter.

This is the parent law under which the Public Provident Fund, National Savings Certificate, Sukanya Samriddhi, Senior Citizens' Savings and Kisan Vikas Patra schemes are notified, and it was called the Government Savings Banks Act, 1873 until the Finance Act of 2018 renamed it.

The account matures twenty-one years after the date of opening, and it may close earlier if the girl marries after completing eighteen years.

Under the Sukanya Samriddhi Account Scheme a guardian may open an account in the name of a girl child who has not completed ten years of age, and a family may hold two such accounts, or three where twins or triplets are born.

The Public Provident Fund Scheme allows a minimum of five hundred rupees and a maximum of one and a half lakh rupees in a financial year, the same ceiling that applies to the Sukanya Samriddhi Account and matching the limit of the deduction under section 80C. Option A, fifty thousand…

A PPF account runs for fifteen financial years counted from the end of the year in which it is opened, and after that it can be extended in blocks of five years, with or without fresh deposits.

The committee chaired by A. Ghosh reported in 1992 on frauds and malpractices in banks and recommended systems of internal control, a separate vigilance machinery and rules for the prevention and early detection of fraud.

The committee to review governance of boards of banks in India, chaired by P. J. Nayak, reported in 2014 that public sector banks were handicapped by the manner of appointment of their directors and by the government's dual role as owner and policy maker, and it proposed transferring the government's…

The study group chaired by P. L. Tandon reported in 1974 on the norms for bank lending for working capital, fixing acceptable levels of inventory and receivables for each industry and setting out methods of lending that limited how much of a borrower's working capital gap a bank would finance…

The committee chaired by R. N. Malhotra, a former Governor of the Reserve Bank, reported in 1993 on the reform of the insurance sector; it recommended opening the sector to private companies and the creation of an independent regulator, from which the Insurance Regulatory and Development Authority was set up…