SBI GK Questions 2026

It fixes a floor wage after taking into account the minimum living standards of a worker, and may set different floor wages for different geographical areas; no state may then fix a minimum wage below that floor.

It defines a gig worker as one who works outside a traditional employer-employee relationship, a platform worker as one who gets work through an online platform, and an aggregator as the digital intermediary that connects buyer and seller, and it provides a social security fund for such workers.

The code raises the threshold from the earlier figure and also makes three hundred the point at which certified standing orders become compulsory, so one number serves two provisions.

These three Acts dealt with the registration of unions, the conditions of service to be published as standing orders, and the machinery for disputes, lay-off, retrenchment and closure, and all three subjects are now in one code.

The four codes subsume twenty-nine central labour enactments: four in the Code on Wages, three in the Industrial Relations Code, nine in the Code on Social Security and thirteen in the Occupational Safety, Health and Working Conditions Code.

The Global Competitiveness Report is the World Economic Forum's assessment of how well countries' institutions, policies and markets support productivity and growth.

Urban Cooperative Banks are regulated by the RBI, not by local boards, and they may raise capital through equity and preference shares.

The scheme merged the separate ombudsman schemes for banks, for non-banking financial companies and for digital transactions into a single one nation one ombudsman arrangement, with a centralised centre to receive and process complaints in any language.

Under the Positive Pay System the issuer of a high value cheque sends the bank the key details, such as date, beneficiary name and amount, through a channel like the mobile app or internet banking, and the paying bank matches those details before honouring the cheque.

This section punishes a person who, by means of any communication device or computer resource, cheats by personation, which is exactly what a phishing website or a caller pretending to be a bank officer does.

The number is run under the national cybercrime reporting arrangement of the Ministry of Home Affairs and is meant for the immediate reporting of financial cyber fraud, alongside the National Cyber Crime Reporting Portal.

Banks report frauds to the Reserve Bank, which keeps them in the Central Fraud Registry and makes the database searchable by banks.

The highest ceiling in the table applies to other current, cash credit and overdraft accounts and to credit cards whose limit exceeds five lakh rupees.

Sharing a PIN, password or one-time password is treated as customer negligence, and in that case the circular makes the customer bear the whole loss up to the time the fraud is reported.

The circular places the burden of proof squarely on the bank: if a bank says the customer is liable, it must establish that, rather than asking the customer to prove innocence.

The circular requires every bank to have a board-approved policy fixing its own resolution period, and caps that period at ninety days from the date the complaint is received.

A shadow reversal is a provisional credit of the disputed amount into the customer's account. The circular requires the bank to make it within ten working days of the customer's notification, and specifically says the bank may not wait for any insurance claim of its own to be settled first.

The Reserve Bank's liability table sets the lowest ceiling for Basic Savings Bank Deposit accounts, which are the no-frills accounts opened for financial inclusion, because their holders are the least able to absorb a loss.

Under the Reserve Bank's circular of 6 July 2017, where the fault lies neither with the bank nor with the customer but somewhere else in the system, the customer's liability is nil if the unauthorised transaction is reported within three working days of receiving the bank's communication about it.

The Central Repository of Information on Large Credits, usually shortened to CRILC, is a database maintained by the Reserve Bank in which banks report details of every borrower whose aggregate exposure, funded and non-funded together, is five crore rupees or more.