NABARD GK Questions 2026

A current account is meant for traders, firms and companies that need to receive and pay money many times a day.

MICR stands for Magnetic Ink Character Recognition, a technology in which the characters are printed in magnetic ink so that a machine can read them even if the paper is stamped or signed over.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act was passed in 2002.

The Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of the Reserve Bank of India, and it insures the deposits held in banks.

NABARD was set up in 1982 on the recommendation of the committee headed by B Sivaraman, and its head office is at Mumbai.

Under the asset classification norms of the Reserve Bank of India, a term loan becomes a Non Performing Asset when interest or an instalment of principal stays overdue for more than ninety days.

CASA is the combined balance a bank holds in the current accounts and the savings accounts of its customers. These are the cheapest deposits a bank can have, because a current account pays no interest at all and a savings account pays very little, unlike a fixed deposit.

RTGS was designed for large value payments, so the Reserve Bank of India fixed a floor of two lakh rupees for a single transaction and set no ceiling at all.

The Indian Financial System Code is an eleven character alphanumeric code that identifies a particular bank branch taking part in the electronic payment systems of the Reserve Bank of India.

SWIFT is the international messaging network over which banks send payment and guarantee instructions across borders.

The tools of the Reserve Bank are divided into quantitative tools, which change the total amount of credit in the system, and qualitative or selective tools, which change the direction in which that credit flows.

All three belong to the monetary policy toolkit of the Reserve Bank of India. SLR, the Statutory Liquidity Ratio, is the part of its deposits that a bank must keep with itself in cash, gold or approved securities, and raising or lowering it changes how much a bank can lend.

RTGS is the system in which a transfer instruction is settled singly and immediately, rather than being held and netted off with others.

SIDBI is the apex institution for micro, small and medium enterprises. It was set up in 1990 under an Act of Parliament, began work on 2 April that year, and has its head office at Lucknow.

The National Bank for Agriculture and Rural Development was set up on 12 July 1982.

From 1 April 2017 the State Bank of India absorbed its five remaining associate banks, the State Bank of Bikaner and Jaipur, the State Bank of Hyderabad, the State Bank of Mysore, the State Bank of Patiala and the State Bank of Travancore, together with Bharatiya Mahila Bank, which had…

R. C. Cooper, a shareholder and director of one of the affected banks, challenged the law of 1969, and an eleven judge bench of the Supreme Court struck it down because the compensation provided for the acquired undertakings was not adequate and the banks were barred from carrying on business.

The cut off used in the first round of nationalisation was deposits of fifty crore rupees or more as on the relevant date, and fourteen banks crossed it.

With effect from 1 April 2019, Vijaya Bank of Karnataka and Dena Bank of Gujarat were merged into Bank of Baroda.

Allahabad Bank, founded in 1865 and one of the fourteen banks nationalised in 1969, was amalgamated into Indian Bank with effect from 1 April 2020.