Banking GK Questions 2026

The correct answer is C, the IDA, the International Development Association, founded in 1960 to lend to the poorest countries on concessional terms, that is interest free credits and grants with long repayment periods, which is why it is called the soft loan window of the World Bank.

The World Economic Outlook is the IMF's survey of the world economy, carrying growth, inflation and current account projections for its member countries, and the Fund also publishes the Global Financial Stability Report and the Fiscal Monitor.

GATT was signed in 1947 by twenty three countries, India among them, and came into force on 1 January 1948 as a treaty with a small secretariat rather than a full organisation.

The WTO works from Geneva, where the GATT secretariat had been housed before it, and its head carries the title Director-General.

The IMF has its headquarters in Washington DC in the United States, and the World Bank Group stands across the street from it in the same city, which is why both are often described together as the Washington institutions.

In July 1944 delegates of forty four allied nations, including India, met at Bretton Woods in New Hampshire in the United States and agreed to create the International Monetary Fund for monetary cooperation and the International Bank for Reconstruction and Development for reconstruction lending, which is why the two are…

The World Trade Organization came into being on 1 January 1995 as the successor to the General Agreement on Tariffs and Trade, and India, which had been a party to GATT since 1948, became a member of the WTO on that very first day, which makes it a founding member.

Parliament passed it under Article 327 to govern the conduct of elections: the qualifications and disqualifications of candidates, the nomination and the security deposit, corrupt practices such as bribery and undue influence, electoral offences, the filling of casual vacancies by by-election and the trial of election petitions by the High…

Article 324(5) says the Chief Election Commissioner shall not be removed from office except in like manner and on the like grounds as a judge of the Supreme Court, so it takes an order of the President after each House of Parliament has passed an address by a special majority…

The correct answer is A, Sukumar Sen, an officer of the Indian Civil Service who held office from 1950 to 1958 and conducted the first two general elections, of 1951-52 and 1957, for an electorate that was largely unlettered and had never voted before.

The first use of an electronic voting machine in an Indian election was in 1982 at North Paravur in Kerala, in a by-election where the machine was used in a limited number of polling stations.

Section 34 of the Representation of the People Act, 1951 requires a candidate for a Lok Sabha seat to deposit 25,000 rupees, and a candidate belonging to a Scheduled Caste or a Scheduled Tribe deposits half of it.

Article 243K, inserted by the 73rd Amendment, gives the superintendence, direction and control of panchayat elections to a State Election Commission consisting of a State Election Commissioner appointed by the Governor, and Article 243ZA does the same for municipalities.

The correct answer is C, the 61st Amendment Act, passed in 1988, which amended Article 326 and lowered the voting age for elections to the Lok Sabha and the State Legislative Assemblies from 21 years to 18, so that the enlarged electorate voted in the general election of 1989.

It is the first article of Part XV and places the superintendence, direction and control of the preparation of electoral rolls and of the conduct of all elections to Parliament, the State legislatures and the offices of the President and the Vice-President in the Election Commission of India.

A VVPAT unit is attached to the balloting unit of an electronic voting machine and prints a slip showing the serial number, name and symbol of the candidate the voter has chosen; the slip is visible through a window for about seven seconds and then drops into a sealed box…

Article 324(2) says the Chief Election Commissioner and the other Election Commissioners shall be appointed by the President, and under the Act of 2023 the President acts on the recommendation of a Selection Committee of the Prime Minister, a Union Cabinet Minister and the Leader of the Opposition in the…

The correct answer is B, Ballia in Uttar Pradesh, from where the scheme was launched on 1 May 2016 to give deposit-free liquefied petroleum gas connections to adult women of poor households, so that cooking on firewood and dung cakes, with the smoke it puts into a kitchen, could be…

The scheme, launched in 2016, fixed a uniform maximum premium for the farmer and left the remaining actuarial premium to be shared by the Centre and the State: two per cent of the sum insured for kharif food crops and oilseeds, one and a half per cent for rabi crops…

The scheme offered every household a zero balance savings account with a RuPay debit card, built-in accident insurance, a small overdraft facility after satisfactory operation, and the plumbing for direct benefit transfer of subsidies and pensions.