IBPS GK Questions 2026

Under the Regional Rural Banks Act, 1976 the issued capital of an RRB is shared in the proportion of 50 per cent by the Central Government, 35 per cent by the sponsor commercial bank and 15 per cent by the State Government concerned.

A payments bank is a differentiated bank licensed on the lines suggested by the Nachiket Mor Committee to carry payments and small savings to people the branch network had not reached.

A bank is placed in that Schedule once it has the prescribed paid-up capital and reserves and satisfies the Reserve Bank that its affairs are not conducted in a manner harmful to depositors.

The Reserve Bank is banker to banks: every scheduled bank keeps an account with it, holds its cash reserve ratio there, settles payments with other banks through those accounts and can borrow from it when short of funds.

Women of the Self-Employed Women's Association at Ahmedabad, who worked as vendors, headloaders and home-based workers, pooled their own share capital and registered a cooperative bank of their own in 1974 because ordinary banks would not deal with borrowers who had no collateral and no paperwork.

It was founded in 1908 by Maharaja Sayajirao Gaekwad III, nationalised in the first round of July 1969, and the Government of India still holds the majority of its shares, which is what makes a bank a public sector bank.

A commercial bank exists to gather savings from those who have a surplus and lend them to those who need funds, and it earns from the gap between the interest it pays depositors and the interest it charges borrowers.

The Reserve Bank of India Act was passed in 1934 and the Bank commenced operations on 1 April 1935, taking over note issue from the Controller of Currency and the management of government accounts and public debt from the Imperial Bank of India.

NABARD was set up on 12 July 1982 on the recommendation of the Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development, chaired by B. Sivaraman.

It was registered in 1894 and opened at Lahore as the first bank floated entirely with Indian capital and run by Indian management, with Lala Lajpat Rai among those associated with its founding.

On 15 April 1980 the Government nationalised six more private banks, this time using a deposit cut-off of ₹200 crore.

The All India Rural Credit Survey Committee under A. D. Gorwala reported that rural credit needed a bank with branches across the country and in state partnership.

Formally the Royal Commission on Indian Currency and Finance, it reported in 1926 that the control of currency and of credit should not be split between the Government and the Imperial Bank but placed in one central bank.

The rupee was tied to the pound sterling from colonial times and stayed pegged to it after independence. In 1975 the link was cut and the rupee was tied instead to a basket of currencies of India's major trading partners, with the Reserve Bank fixing the daily rate.

The Reserve Bank opened in 1935 as a shareholders' bank with privately held share capital.

It was founded in 1865 and is remembered as the oldest joint stock bank in India, a joint stock bank being one owned by shareholders rather than by a partnership of agency houses.

On 19 July 1969 the Government of India issued an ordinance taking over the fourteen largest Indian scheduled commercial banks, those whose deposits stood at ₹50 crore or more.

Vatican City is an independent state of well under half a square kilometre lying entirely inside the city of Rome, and it is the smallest country in the world by both area and population.

The Bay of Bengal is the north-eastern arm of the Indian Ocean, bounded by India, Bangladesh, Myanmar and Sri Lanka, and it is the largest bay in the world.

The Andes run down the whole western edge of South America, through seven countries from Venezuela to the southern tip of Chile and Argentina, and form the longest mountain range above sea level.