Banking GK Questions 2026

He made the earliest estimate of India's national income in the nineteenth century and used it to argue that British rule was draining wealth out of the country, putting the average income at about twenty rupees a person a year.

Machines, buildings and vehicles wear out as they are used, and the value of that wear and tear must be set aside if the country is to keep its capital intact.

Net factor income from abroad is the income residents earn outside the country minus the income foreigners earn inside it.

GDP measures production inside the borders of a country in one accounting year, whoever the producer may be. A foreign firm making cars in India adds to India's GDP, because the test is the place of production and not the nationality of the producer.

Prathama Bank, the first Regional Rural Bank of India, opened on 2 October 1975 with its head office at Moradabad in Uttar Pradesh, sponsored by Syndicate Bank.

Under the Coinage Act 2011 the Government of India alone has the right to mint coins, and the work is handled by the Department of Economic Affairs in the Ministry of Finance.

A hawkish stance means the central bank treats inflation as its first enemy and is ready to raise interest rates and tighten money supply, even at some cost to growth.

Monetary policy, the control of money supply and interest rates to keep prices stable, is the job of the central bank, the RBI, set up on 1 April 1935 under the RBI Act 1934 and nationalised on 1 January 1949.

The rupee sign blends the Devanagari letter "र" (Ra) with the Roman capital "R" with its vertical stem removed, so that it reads as an Indian letter and an international one at the same time.

A revenue receipt is money the government gets without creating a liability for itself or selling off an asset; tax collections such as GST, income tax and excise, and non-tax income such as interest, dividends and fees, all fall in this class.

The Statutory Liquidity Ratio, or SLR, is the share of a bank's net demand and time liabilities, that is, all its demand deposits and term deposits taken together, that it must hold in liquid assets such as cash, gold or approved government securities.

The National Bank for Agriculture and Rural Development was set up on 12 July 1982 by an Act of Parliament, on the recommendation of the Sivaraman Committee (CRAFICARD), as the apex body for rural and farm credit.

The Reserve Bank of India measures money supply in four grades, M1 to M4, in decreasing order of liquidity. M1 is currency with the public plus demand deposits of banks plus other deposits with the RBI, and M2 is M1 plus savings deposits with post offices.

It empowers the President to constitute the Goods and Services Tax Council, a joint forum of the Centre and the States.

Stagflation is a blend of the words stagnation and inflation: output stops growing, unemployment rises, and yet prices keep climbing.

Open market operations, or OMO, are the buying and selling of government securities by the central bank in the open market to control the money supply.

The Asian Development Bank has its headquarters in Mandaluyong City, Metro Manila, in the Philippines. It was set up in 1966 to fund development in Asia and the Pacific, and India was one of its founding members.

The Reserve Bank of India started working on 1 April 1935 under the Reserve Bank of India Act, 1934, following the recommendation of the Hilton Young Commission of 1926.

The President said the country is moving ahead with the national goal of building a developed India by that year, a hundred years after independence, and described what such a country would look like: quality education and healthcare reaching everyone, science and technology used for human welfare, equality of opportunity…

The President attended the 75th annual convocation of the Maharaja Sayajirao University of Baroda in that city, and the university takes its name from the ruler of the former princely state of Baroda, which is the older name of Vadodara itself.