IBPS GK Questions 2026

The correct answer is B, the Ministry of Electronics and Information Technology, shortened to MeitY, which is the nodal ministry for the programme and also for the National e-Governance Division, DigiLocker, UMANG and CERT-In.

Digital India was launched on that day with the tagline Power to Empower, and it is implemented by the Ministry of Electronics and Information Technology; the launch week was observed as Digital India Week.

It is India’s first cyberlaw, and it is the statute that gave legal recognition to electronic records and to digital and electronic signatures, so that a contract concluded online is as enforceable as one written on paper and a department may accept a filing or issue a licence electronically.

Reserves had been drained by years of current account deficits, by the rise in oil prices and the fall in remittances after the Gulf crisis, and by the withdrawal of deposits held by non-resident Indians, and at the worst point they could cover only a fortnight of imports.

The older law had treated size itself with suspicion and required large firms to obtain the government's approval before expanding, setting up a new undertaking or merging; the reforms of 1991 removed that requirement, and the Act of 2002 replaced the law altogether, shifting attention from the size of a…

It is the sale of a part of the government's equity in a public enterprise, either to the public through the stock market or to institutional and strategic buyers; when a majority holding is sold and management also passes to the buyer, it is called a strategic sale.

The World Trade Organisation came into being on that date at the end of the Uruguay Round of negotiations, taking the place of the General Agreement on Tariffs and Trade of 1947, and India, having been a party to the GATT, became a founder member.

The older Act of 1973 treated a breach of exchange control as a criminal offence and presumed guilt; the new Act treats most breaches as civil contraventions punishable with a penalty, and its purpose is stated as facilitating external trade and payments and the orderly development of the foreign exchange…

His committee of 1991 recommended reducing the statutory pre-emption of bank funds through the Cash Reserve Ratio and the Statutory Liquidity Ratio, allowing new private banks, introducing prudential norms for the recognition of income and for capital adequacy, and giving banks freedom in branch expansion; a second committee under him…

The Reserve Bank lowered the value of the rupee on 1 July and again on 3 July 1991 to make exports cheaper abroad, discourage imports and restore confidence in the currency during the crisis.

As Finance Minister in the government of P. V. Narasimha Rao he presented the budget of July 1991, which cut subsidies, reduced the fiscal deficit, lowered tariffs and set out the framework of the reforms, following the devaluation of the rupee earlier that month.

Liberalisation removed licensing and other controls on industry and trade, privatisation reduced the ownership and the role of the public sector through disinvestment and strategic sales, and globalisation opened the economy to foreign trade, investment and technology.

The Statement on Industrial Policy of that date ended licensing for all industries except a short reserved list, cut back the industries kept for the public sector, removed the requirement of prior government approval for expansion by large firms under the monopolies law, and allowed foreign direct investment up to…

Liberalisation means freeing economic activity from government controls: industrial licences, import licences and quantitative restrictions, ceilings on investment and administered interest rates.

He became Prime Minister in June 1991, in the middle of the balance of payments crisis, and his government devalued the rupee, borrowed from the International Monetary Fund and announced the New Economic Policy of liberalisation, privatisation and globalisation, with the Statement on Industrial Policy issued on 24 July 1991.

The Payment and Settlement Systems Act, 2007 makes the Reserve Bank the designated authority for the regulation and supervision of payment systems in India; no person may commence or operate a payment system without its authorisation, and it issues the directions under which card networks, prepaid instruments and the retail…

The National Bank for Agriculture and Rural Development Act was passed in 1981 on the recommendation of the committee to review arrangements for institutional credit for agriculture and rural development, and NABARD itself was established on 12 July 1982 as the apex body for rural credit, refinancing cooperative banks and…

Section 35A lets the Reserve Bank give directions to banking companies, generally or to a particular bank, where it is satisfied that this is necessary in the public interest, in the interest of banking policy, to prevent the affairs of a bank being conducted in a manner detrimental to depositors…

The Act allows a certified copy of an entry in a banker's book to be received in a legal proceeding as prima facie proof of that entry, so that a bank need not produce its original records and its officers are summoned only in limited circumstances.

Fourteen banks were nationalised on 19 July 1969 by an ordinance; after the Supreme Court struck down the ordinance and the Act that followed it, Parliament enacted the Act of 1970, and a similar Act of 1980 covered the six banks nationalised on 15 April 1980.