RBI GK Questions 2026

One of the measures meant to speed up refunds is a shorter acknowledgement window: the period comes down from 15 days to 10 days, and where no response is issued within it the claim is treated as acknowledged by deeming.

The backgrounder records that the taxpayer base widened from roughly 60 lakh when the tax began to about 1.70 crore in September 2026, which is close to a threefold increase over nine years.

The backgrounder states that the process reforms covering registration, return filing, refunds, input tax credit and dispute resolution were recommended at the 57th meeting of the GST Council, held in October 2026.

It prepared and released the draft guideline for compiling Gross State Domestic Product estimates from the expenditure side and placed the document on the ministry website for wider dissemination and feedback.

The release states plainly that while some States and Union Territories do put together estimates of Gross Fixed Capital Formation and Government Final Consumption Expenditure, no State or Union Territory is compiling PFCE at present.

The National Statistics Office has prepared the draft guideline for compiling Gross State Domestic Product estimates from the expenditure side with 2022-23 as the base year, and the whole framework is described as working under the revised base year arrangement.

The Ministry of Coal reported that the rate at which coal stocks at power stations were being drawn down slowed sharply, with the daily drawdown dropping by more than half from 0.243 MT a day in September to 0.116 MT a day in October.

Rail loading of coal has averaged more than 465 rakes a day during October, and the ministry noted that the 470-rake target was met on three days running, which it treated as a sign that logistics had strengthened alongside production.

The Ministry of Coal said that daily supplies of coal to the power sector have climbed roughly 36% from the low point reached in September, and that the October average is around 9% higher than the September average.

A peer-to-peer lending platform, which matches individual lenders with individual borrowers, must be registered as a Non-Banking Financial Company — Peer to Peer Lending Platform under master directions the Reserve Bank issued in 2017; it acts only as an intermediary and may not lend on its own book or give…

The Reserve Bank Innovation Hub was set up in 2020 at Bengaluru as a wholly owned subsidiary of the Reserve Bank to build products that deepen financial inclusion, and the Unified Lending Interface, a common platform through which lenders can draw authenticated data for credit appraisal, grew out of its…

RTGS, which settles large-value transactions one by one in real time, and NEFT, which settles in batches, are both owned and operated by the Reserve Bank, and both have been available round the clock on all days.

The guidelines issued in September 2022 require that all loan money move directly between the borrower’s bank account and the bank account of the regulated entity, that is the bank or non-banking finance company doing the lending, without any pool or pass-through account of a third party in between.

e-RUPI is a prepaid electronic voucher, delivered to the beneficiary as an SMS string or a QR code, which can be redeemed only by the named person and only for the named purpose, for example a vaccination or a diagnostic test.

The retail digital rupee earns no interest, and this is a deliberate design decision: an interest-bearing CBDC would pull money out of bank deposits and shrink the funds banks have to lend, so the Reserve Bank kept it non-interest bearing like cash.

The National Payments Corporation of India was incorporated in 2008 at the initiative of the Reserve Bank of India and the Indian Banks’ Association as the umbrella organisation for retail payments in India, and it is a not-for-profit company under what is now Section 8 of the Companies Act.

An FIP is the institution that already holds the customer’s data — a bank, a non-banking finance company, an insurer, a mutual fund or a pension fund — and releases it when a valid consent artefact is presented.

The digital rupee is money, a liability of the Reserve Bank, so a transfer from one wallet to another is final the moment it happens and no interbank settlement follows.

The wholesale pilot began on 1 November 2022 with a small group of banks, and its first use case was settling the secondary market leg of Government security trades, because that removes the need for a separate settlement guarantee arrangement and frees collateral.

The Finance Act, 2022 amended Section 2 of the Reserve Bank of India Act so that the expression bank note includes a bank note issued in digital form, which gave the digital rupee the status of legal tender.