IBPS GK Questions 2026

The First Backward Classes Commission was appointed in January 1953 under Article 340 with Dattatreya Balkrishna Kalelkar, known as Kaka Kalelkar, as chairman, and it submitted its report in 1955.

Every major Indian education commission has held that a child learns best in the language spoken at home.

The Second Backward Classes Commission, known as the Mandal Commission after its chairman Bindheshwari Prasad Mandal, was appointed on the first of January 1979 by the Janata Party government of Morarji Desai under Article 340 of the Constitution.

A fifty-one per cent attack is one in which a single party commands a majority of the resource that decides consensus, which is the mining power in a proof of work chain and the staked coins in a proof of stake chain.

The Central American country passed a Bitcoin Law in June 2021 and became, in September 2021, the first state anywhere to give bitcoin the status of legal tender alongside the United States dollar, which it already used as its currency.

The digital rupee, written as e-rupee, is the digital form of sovereign currency issued by the Reserve Bank of India.

From July 2022 a person paying any consideration for the transfer of a virtual digital asset must deduct tax at source at one per cent of that consideration, a provision introduced by the Finance Act of 2022 so that the tax department can see the volume and the parties in…

The Finance Act of 2022 inserted a definition of the virtual digital asset into the Income Tax Act and taxed income from the transfer of such an asset at a flat thirty per cent, plus the applicable surcharge and cess.

A blockchain is a ledger whose identical copies are held by many nodes, with new entries grouped into blocks, each linked to the previous one by its hash, and added only when the network agrees by a consensus rule.

The transactions in a block are hashed in pairs, the resulting hashes are hashed in pairs again, and the process repeats until a single hash remains; that hash is the Merkle root, named after Ralph Merkle, and it is stored in the block header.

Ethereum was described by Vitalik Buterin in a white paper of 2013 and the network went live in 2015.

In proof of work, the computers called miners compete to find a nonce that makes the hash of the proposed block meet a difficulty target.

The bitcoin protocol fixes the total supply at twenty-one million coins. New coins enter circulation only as the reward paid to whoever adds a block, and that reward is halved every two hundred and ten thousand blocks, which works out to roughly every four years, so issuance falls geometrically towards…

Bitcoin uses the SHA-256 hash function, part of the Secure Hash Algorithm family, which turns an input of any length into a fixed output of two hundred and fifty-six bits.

The paper titled Bitcoin: A Peer-to-Peer Electronic Cash System was circulated in 2008 under the name Satoshi Nakamoto, a pseudonym whose owner has never been established, and it set out how a chain of hashed blocks and proof of work could prevent double spending without any trusted third party.

The Fugitive Economic Offenders Act of 2018 applies where a warrant of arrest has been issued for a scheduled offence involving a value of one hundred crore rupees or more and the person has left India to avoid prosecution, or refuses to return to face it.

The Financial Intelligence Unit India works under the Department of Revenue in the Ministry of Finance and reports to the Economic Intelligence Council, the apex body on economic offences, which is chaired by the Union Finance Minister.

The Financial Action Task Force was set up in 1989 at the summit of the Group of Seven industrial countries held in Paris, and its secretariat is housed at the headquarters of the Organisation for Economic Co-operation and Development in Paris.

Section 12 requires every reporting entity to maintain a record of all transactions of the prescribed nature and value for a period of five years from the date of the transaction between the client and the entity, and to maintain records of the identity of its clients for five years…

Section 5 allows the Director or an authorised officer, on reasons to be recorded in writing, to attach property believed to be the proceeds of crime provisionally for a period of one hundred and eighty days.