Banking GK Questions 2026

Under it the President constitutes the GST Council, which is chaired by the Union Finance Minister and includes the Union Minister of State for Finance and a minister nominated by each state.

It inserted Article 246A, Article 269A and Article 279A and made the sharing of taxing power between the Union and the states possible, so that both could tax the same supply.

GST was rolled out at a midnight session of Parliament and the date is now observed every year as GST Day.

It is the foundation of the whole tax system, because it means the executive cannot demand money from a citizen without a law passed by the competent legislature.

A gift tax is charged on the transfer of money or property from one person to another without consideration; it is a tax on a transfer between persons, not on any sale of goods or supply of services.

GST is charged on the supply of goods and services, and although the registered supplier deposits it with the government, the amount is recovered from the buyer in the price.

In the 8085A microprocessor the program counter is a 16-bit register that always holds the memory address of the next instruction, or op-code, to be fetched.

Integrated circuits are classified by how many logic gates are packed on a single chip.

In an operating system a process passes through the states new, ready, running, waiting and terminated.

The system development life cycle, or SDLC, is the set of stages followed while building a software system, and feasibility study, coding and implementation are all stages of it.

Cache memory is the small, very fast memory placed between the processor and main memory that keeps the data the processor is most likely to need next.

EBCDIC is an 8-bit character encoding scheme developed by IBM in 1963 for its mainframe and midrange computers. Because it uses 8 bits for each character it can represent 256 different characters, twice as many as the 7-bit ASCII code, which handles 128.

Data can travel between two devices in three modes. In half-duplex mode both devices can send and receive, but only one of them may transmit at any given moment, so the traffic takes turns; a walkie-talkie is the standard example, and older hubs and CB radio worked the same way.

In an entity relationship diagram each symbol has a fixed meaning, and an attribute that can hold more than one value for the same entity, such as a person's several phone numbers, is drawn as a double ellipse.

The 56 K rating of a modem means it can transfer data at up to 56 kilobits per second, so the figure describes speed, not size.

An ATM set up, owned and operated by a non-bank company registered under the Companies Act is called a white label ATM, because it carries no bank's logo.

In a packet switched network a packet meets four kinds of delay at every router on its path, and transmission, processing and queuing delays are three of them.

The ones complement of a binary number is found by simply inverting every bit, turning each 0 into 1 and each 1 into 0.

Computer storage is counted in powers of two, so each step up the ladder multiplies by 1024, and one gigabyte equals 1024 megabytes.

In MS Word 365 the shortcut Ctrl + Alt + I switches the document to print preview and, pressed again, brings you back to the normal view.