RBI GK Questions 2026

The National Statistical Office, formed by merging the Central Statistical Office with the National Sample Survey Office, prepares the national accounts under the Ministry of Statistics and Programme Implementation.

Exports are goods produced at home and sold abroad, so they belong in domestic production. Imports are produced abroad but are already included in the spending of households, firms and government, so they must be taken out to leave only what the country itself produced.

The deflator compares what the year's output costs at this year's prices with what the same output would cost at base year prices, so nominal GDP goes on top and real GDP below, and the ratio is expressed as a percentage.

When output of every year is valued at the same fixed set of prices, any change in the total must come from a change in the quantity produced.

A market price contains the indirect taxes the buyer pays, which never reach the producer, so they must be taken out.

The committee was appointed in 1949 to prepare official estimates of national income after independence, and it submitted its final report in 1954.

He made the earliest estimate of India's national income in the nineteenth century and used it to argue that British rule was draining wealth out of the country, putting the average income at about twenty rupees a person a year.

Machines, buildings and vehicles wear out as they are used, and the value of that wear and tear must be set aside if the country is to keep its capital intact.

Net factor income from abroad is the income residents earn outside the country minus the income foreigners earn inside it.

GDP measures production inside the borders of a country in one accounting year, whoever the producer may be. A foreign firm making cars in India adds to India's GDP, because the test is the place of production and not the nationality of the producer.

Open market operations, or OMO, are the buying and selling of government securities by the central bank in the open market to control the money supply.

The Staff Welfare Fund is money that public sector banks set aside for the welfare of working and retired staff, covering health expenses, canteen subsidies, sports and cultural activities and educational help.

In its appeal of 21 September 2026, the Ministry of Finance recalled that the Government, in the interest of bank employees, declared the 2nd and 4th Saturdays of every month as holidays for public sector banks in 2015.

The United Forum of Bank Unions and some other unions in public sector banks, supported by Regional Rural Banks, raised two principal demands: a five-day working week for banks and withdrawal of the Performance Linked Incentive scheme.

India's exports of digitally delivered services rose from $277 billion in 2024 to $317 billion in 2025, a gain of about 15 per cent in a single year, and that growth lifted the country from the fifth position to the fourth among global exporters of such services.

The edition treats this as a strategically important sector for manufacturing, infrastructure, the energy transition and advanced industries, and it examines both export competitiveness and rising import dependence.

Ashok Kumar Lahiri, Vice-Chairman of NITI Aayog, released it in New Delhi along with the chief executive officer and other senior officials of the institution, and the edition covers the first quarter of FY27, that is April to June 2026.

The release explains the reasoning: a fixed amount gives cost certainty to critical public services and to businesses that work on narrow margins, which a percentage charge would not.

The framework was brought in after detailed deliberations by the UPI Steering Committee on the rates, the operational arrangements and the safeguards for consumers.

Every person-to-merchant payment at or below that value stays free of the Merchant Discount Rate, and customers pay no charge for making such payments through the platform.