RBI GK Questions 2026

Of the 40 per cent that a domestic commercial bank must lend to the priority sector, 18 per cent of Adjusted Net Bank Credit has to go to agriculture, which covers farm credit, agriculture infrastructure and ancillary activities.

A domestic commercial bank, and a foreign bank with 20 or more branches in India, must lend 40 per cent of its Adjusted Net Bank Credit, or of the Credit Equivalent of Off-Balance Sheet Exposure where that is higher, to the priority sector.

There is no such method of measurement; the GDP deflator is a price index derived after the aggregates have been estimated, used to convert nominal values into real values.

Interest payments are the cost of borrowing done in earlier years, so taking them out of the fiscal deficit leaves the borrowing the government needs for this year's own activities; a zero primary deficit means the government is borrowing only to pay interest on past debt.

The fiscal deficit is the gap between what the government spends and everything it receives other than borrowings, so it measures exactly how much the government must borrow during the year and is the headline figure watched in every Budget.

The National Income Committee was appointed in 1949 with Professor P. C. Mahalanobis as chairman and Professor D. R. Gadgil and Dr V. K. R. V. Rao as members; its reports in the early 1950s produced the first official estimates of national income for independent India and shaped the work…

He estimated India's national income for the year 1867-68 and used the figure in his argument about the drain of wealth from India under British rule, which is why he is remembered as the first to attempt the exercise.

The Survey is written in the Economic Division of the Department of Economic Affairs in the Ministry of Finance, under the overall supervision of the Chief Economic Adviser, and is laid before both Houses of Parliament, usually a day before the Union Budget.

Both statements state the same rule from opposite sides: national income is the value of final goods and services, and the value of intermediate goods is excluded so that the same output is not counted at every stage of production.

Work through the expression in two steps. Adding depreciation to a net aggregate turns it gross, so NNP at market prices plus depreciation gives GNP at market prices.

The deflator is nominal GDP divided by real GDP and multiplied by a hundred, so it is not computed from a fixed basket of goods at all; it is implied by the two GDP series, and that is exactly why it carries the word implicit.

National income counts only final goods and services; intermediate goods are deliberately left out, because counting the flour as well as the bread would mean counting the same value twice.

OPEC was founded in 1960 at a conference in Baghdad by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, and its secretariat was first at Geneva before moving to Vienna in 1965, where it remains.

The South Asian Association for Regional Cooperation was founded in 1985 at Dhaka, where its charter was signed, and its permanent secretariat was set up at Kathmandu in Nepal in 1987.

The United Nations Monetary and Financial Conference met at Bretton Woods in New Hampshire in the United States in July 1944 and agreed to set up the International Monetary Fund and the International Bank for Reconstruction and Development, which is why the two are called the Bretton Woods twins; both…

The WTO began on 1 January 1995 as the outcome of the Uruguay Round, and it replaced the General Agreement on Tariffs and Trade as a permanent organisation with a dispute settlement system.

The OECD was established in 1961 as the successor of the Organisation for European Economic Co-operation, which had been created to administer aid under the Marshall Plan, and it works from Paris as a forum of mostly high-income countries that sets standards and publishes comparative statistics.

The New Development Bank was agreed at the sixth BRICS summit at Fortaleza in Brazil in 2014 and began work with its headquarters at Shanghai, with K. V. Kamath of India as its first president and an African regional centre in South Africa.

South Africa was invited to join in 2010 and took part in the summit at Sanya in China in 2011, and the letter S was added to the acronym to make BRICS.

The leaders of Brazil, Russia, India and China met for the first summit of the grouping at Yekaterinburg in Russia in June 2009, turning an analyst's acronym into a working forum.