Banking GK Questions 2026

The Royal Society has awarded the Copley Medal since 1731 for outstanding achievement in any branch of science, which makes it older than the Nobel Prizes by well over a century and a half; it is given every year and is open to researchers of any nationality, so it covers…

Alfred Nobel signed his will in 1895 and died in 1896, and after his estate was settled the first prizes were given in 1901 in physics, chemistry, physiology or medicine, literature and peace; they are presented every year on 10 December, the anniversary of his death.

C. V. Raman announced his discovery of the scattering effect now named after him on 28 February 1928, and since 1987 India has observed that date as National Science Day, with a theme, lectures and science fairs in schools and laboratories.

Chandrasekhara Venkata Raman received the Nobel Prize in Physics in 1930 for his work on the scattering of light and for the discovery of the effect named after him, and he was the first Asian to win a Nobel Prize in any of the sciences; he made the discovery on…

The Kalinga Prize was created at UNESCO in 1951 from a gift made by Biju Patnaik of Odisha, later the Chief Minister of that state, and it was first awarded in 1952; it honours a writer, editor, broadcaster or film maker who has helped explain science to ordinary people, and…

The Association for Computing Machinery has given the Turing Award every year since 1966 for lasting contributions of a technical nature to computing, and it is named after Alan Turing, the British mathematician who framed the idea of a universal computing machine and worked on breaking wartime codes.

Because Alfred Nobel's will created no prize for mathematics, the Fields Medal has come to be treated as the highest honour in the subject; it was first awarded in 1936, is named after the Canadian mathematician John Charles Fields, and is presented at the International Congress of Mathematicians once every…

The prize was instituted in 1958 by the Council of Scientific and Industrial Research in memory of Shanti Swarup Bhatnagar, the chemist who served as its first Director-General and built the chain of national laboratories; it is given to Indian scientists below the age of forty-five in seven branches of…

Special drawing rights are an international reserve asset created by the IMF and allotted to member countries in proportion to their quotas; a member can exchange them with other members for usable currencies.

The committee headed by S. S. Tarapore reported in 1997 and again in 2006 and set out a phased road map for making the rupee convertible on the capital account, together with the preconditions to be met first, such as fiscal discipline, low and stable inflation and a strong banking…

When the rupee depreciates, each dollar buys more rupees, so an Indian good priced in rupees costs a foreign buyer fewer dollars and exports become more competitive, while every imported item costs more rupees than before.

Since the unification of the exchange rate in March 1993 the value of the rupee has been determined by demand and supply in the foreign exchange market, while the Reserve Bank intervenes by buying or selling dollars to curb sharp volatility rather than to defend any particular level.

Small savings such as deposits in post office schemes are domestic rupee liabilities of the government and have nothing to do with the country's external assets.

India accepted the obligations of Article VIII of the Articles of Agreement of the International Monetary Fund in August 1994, which means the rupee can be exchanged freely for trade in goods and services, travel, education, remittances and interest payments.

FERA treated foreign exchange as a scarce resource, forbade most dealings unless permitted and made breaches criminal offences.

Foreign investors bring in foreign exchange and look for predictable rules, and the difficulty most often listed for India is regulatory uncertainty: changing rules, clearances spread across departments and states, and disputes that take long to settle.

Statement 1 is right because when the United States Federal Reserve tightens, returns there become attractive and portfolio money flows out of emerging markets, which is capital flight.

Statement 1 is right because the NEER is a trade weighted index of the rupee against a basket of partner currencies, so a rise in the index means the rupee has appreciated in nominal terms.

By the middle of 1991 India's foreign exchange reserves had fallen to roughly a fortnight of imports, gold was pledged abroad to raise funds, the country borrowed from the International Monetary Fund and the rupee was devalued in two steps in July.

The capital account records transactions that change the ownership of assets and liabilities between residents and non-residents, and foreign direct investment, along with portfolio investment, external commercial borrowings and deposits of non-resident Indians, falls squarely in that group.