SBI GK Questions 2026

A customs union removes duties on trade among its members and, in addition, requires every member to levy the same tariff on goods coming from outside the union, which is the common external tariff.

At the Regional Comprehensive Economic Partnership summit held in Bangkok in November 2019, India announced that it would not join the agreement.

The India-UAE Comprehensive Economic Partnership Agreement was signed on 18 February 2022 and came into force on 1 May 2022, a gap of barely ten weeks that makes it one of the fastest agreements India has brought into operation.

The India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement, or CECPA, took effect in 2021 and is the first trade agreement India concluded with any African country.

The European Free Trade Association has exactly four members today: Iceland, Liechtenstein, Norway and Switzerland. Denmark was among the seven countries that set up EFTA in 1960, but it left to join the European Communities and is today a member of the European Union, not of EFTA.

TEPA was signed on 10 March 2024 in New Delhi with the four EFTA states, Iceland, Liechtenstein, Norway and Switzerland, and came into force on 1 October 2025.

India has no bilateral free trade agreement with Brazil. Its only preferential link with Brazil is through the limited India-MERCOSUR Preferential Trade Agreement, which covers a short list of products at reduced duty and is not a free trade agreement.

The initiatives he cited as creating capability in emerging fields were the Deep Ocean Mission, the Quantum Mission, artificial intelligence, cyber security and the Anusandhan National Research Foundation, so options A, B and C all appear on that list.

The minister referred to this target together with the opening of the nuclear sector to private participation, and described nuclear power as an important clean-energy source for future requirements, among them the demand created by artificial intelligence and data centres.

The minister described this as the current size of the space economy and said it could reach USD 45 to 46 billion over the next 8 to 10 years if the present momentum continues, crediting the expansion to the opening of the sector and the entry of a wider set…

The Minister said the economy, which is around USD 4 trillion at present, has the potential to grow to that size by 2047, the hundredth year of independence and the year set for the goal of a developed India.

The curtain raiser for the summit was held in New Delhi on 8 October 2026, which makes option C a tempting distractor, but the capital hosted only the preview and not the summit itself.

The Commerce and Industry Minister gave both figures at the curtain raiser of the 31st CII Partnership Summit and pointed out that moving from one to the other means growth of close to 16 per cent, in a year when world trade is expected to grow only about 2.5 to…

The National Bank for Agriculture and Rural Development began work on 12 July 1982 under an Act of 1981, on the recommendation of the Sivaraman Committee, taking over the agricultural credit functions of the Reserve Bank and the refinance business of the Agricultural Refinance and Development Corporation; it has its…

It is issued by the Government of India under the Coinage Act and carries the signature of the Finance Secretary rather than of the Governor of the Reserve Bank; all coins are likewise issued by the Government, while the Reserve Bank only distributes them.

The Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of the Reserve Bank of India and insures deposits in commercial banks, local area banks, regional rural banks, small finance banks, payments banks and cooperative banks; the cover was raised to five lakh rupees per depositor per bank…

The National Payments Corporation of India was set up in 2008 by the Reserve Bank of India and the Indian Banks Association as a not-for-profit company under the companies law, and it operates the retail payment systems of the country, among them the Unified Payments Interface, RuPay, IMPS, NACH, AePS…

The Financial Stability and Development Council was set up in 2010 by an executive order of the Government, following a recommendation of the Raghuram Rajan Committee on financial sector reforms, and it is chaired by the Union Finance Minister with the heads of the regulators, the Finance Secretary and senior…

The Forward Markets Commission had regulated forward and commodity derivative trading since 1953 under the Forward Contracts (Regulation) Act 1952 and worked under the Ministry of Finance in its last years; it was merged into the Securities and Exchange Board of India on 28 September 2015, the first merger of…

The Tribunal was set up under the SEBI Act and sits at Mumbai; since the Finance Act 2017 it also hears appeals against orders of IRDAI and of PFRDA, so one tribunal now serves three regulators.