Banking GK Questions 2026

The statutes of the Nobel Foundation allow a prize in one category to be divided among no more than three persons in a single year, and the money is shared between them.

The correct answer is B, the Karolinska Institute, the medical university in Stockholm whose assembly selects the laureate in Physiology or Medicine, exactly as Alfred Nobel's will laid down.

That makes her the youngest laureate in any category in the history of the prize.

She shared the Physics Prize in 1903 for work on radioactivity, becoming the first woman laureate, and won the Chemistry Prize alone in 1911 for the discovery of radium and polonium.

The ceremonies in Stockholm and Oslo are held on that date every year, and the prizes themselves are announced in October, some weeks earlier.

The correct answer is B, Amartya Sen, honoured in 1998 for his contributions to welfare economics, including work on social choice and on the causes of famine, which showed that famines occur even when food is available if people lack the means to obtain it.

Chandrasekhara Venkata Raman received the Prize in 1930 for his work on the scattering of light, in which a part of the scattered light changes wavelength, an effect that carries his name and gave chemists a powerful method of studying molecules.

He also wrote the national anthems sung in India and in Bangladesh.

Alfred Nobel's will directed that the Peace Prize be decided by a committee appointed by the Norwegian parliament, while the other prizes were left to Swedish institutions, and the Peace Prize is therefore announced and presented in the Norwegian capital.

Sveriges Riksbank founded the prize in 1968 to mark its three hundredth anniversary, and it was awarded for the first time in 1969.

Alfred Nobel's estate had to be settled and the Nobel Foundation established before any prize could be given, so the first awards came five years after his death.

The Swedish chemist who invented dynamite signed his last will in 1895 and left most of his fortune to endow prizes for those who had conferred the greatest benefit on mankind.

A higher repo rate raises the cost at which banks borrow from the Reserve Bank, so they raise their own lending rates.

Under the minimum reserve system adopted in 1957 the Bank keeps assets of at least two hundred crore rupees against the notes it issues, of which gold must be worth at least one hundred and fifteen crore rupees and the rest is held in foreign securities.

The one rupee note is not a Reserve Bank note at all: it is issued by the Government of India through the Ministry of Finance, is a legal tender note of the government and carries the signature of the Finance Secretary.

A margin requirement is the part of the value of a security that the borrower must fund from his own resources; by raising it for loans against a particular commodity the Bank can discourage credit flowing into speculation in that commodity without touching the total supply of credit.

It requires every scheduled bank to keep with the Reserve Bank a cash balance calculated on its net demand and time liabilities, and this proportion is the cash reserve ratio.

It amended the Reserve Bank of India Act, 1934 to insert the provisions on the inflation target and on the Monetary Policy Committee, so that the policy rate is now set by a committee and not by the Governor alone, and the framework of flexible inflation targeting became law.

Three of them come from the Reserve Bank, the Governor as chairperson, the Deputy Governor in charge of monetary policy and an officer of the Bank nominated by the Central Board, and three are appointed by the central government from among persons of ability and integrity with knowledge of economics…

In a repurchase agreement a bank sells government securities to the Reserve Bank and agrees to buy them back the next day at a fixed price; the difference is the interest, and the rate is the repo rate.