SBI GK Questions 2026

In August 1994 India accepted the obligations of Article VIII of the International Monetary Fund and made the rupee fully convertible on the current account, so that foreign exchange for trade, travel, education and remittances could be obtained freely at the market rate.

The balance of trade, also called the merchandise or visible balance, is the difference between the value of goods exported and goods imported; nothing else enters it.

Self-reliance, the goal set out in India's early plans, means building the capacity to produce at home what the country would otherwise have to buy abroad, so the true indicator is that imports of such goods are avoided.

An inward-looking trade strategy, better known as import substitution, was the policy India followed from the Second Five Year Plan until 1991, and it rested on two instruments.

Export security is not a recognised category of trade barrier; it is not a device that restricts the movement of goods across a border.

The balance of payments is the statement that records every economic transaction between the residents of a country and the rest of the world in a given period, which is precisely what the external sector of an economy means; it covers merchandise trade, services, income, transfers and capital flows.

Documents examined after the arrests showed that this quantity of smuggled gold had already been carried and delivered through the same courier-based network during nine months of the current calendar year, which is what revealed the true size of the operation.

That quantity of foreign-origin gold, all of it in bar form, was recovered from the courier consignments that were intercepted during the coordinated operation, and it was seized under the relevant provisions of the customs law.

It was DRI that acted on intelligence about gold crossing the India-Bangladesh border, intercepted the courier parcels in several cities and seized the metal under the customs law.

The Bombay Stock Exchange is the oldest stock exchange in India and in Asia.

A debit card carries a 16-digit card number printed on its front, and this is the number a shop or a website reads to route the payment.

The Reserve Bank of India set up this sub committee of its Central Board under Y. H. Malegam in October 2010, after complaints of very high interest rates and harsh recovery in the microfinance business.

It is CBDT that fixed the new dates for the return of income and for the report of audit under the Income-tax Act, 1961.

Because a return in an audit case rests on an auditor's report, the Board shifted the report deadline along with the return deadline, and the report is now due on the twenty-first day of October.

For the class of taxpayers who must get their accounts audited, the statutory last date to file the return of income for Assessment Year 2026-27 was 31 October 2026, and the Central Board of Direct Taxes has now pushed it forward by three weeks.

Prime Minister Narendra Modi launched the BHIM app on 30 December 2016, a few weeks after the note ban of November 2016, to push people towards digital payment.

The slogan The Name you can Bank Upon belongs to Punjab National Bank. PNB was set up in 1894 at Lahore and was the first Indian bank started wholly with Indian capital, with Lala Lajpat Rai among those behind it; its head office is now in New Delhi.

The Bombay Stock Exchange became the first stock exchange in India to enter commodity derivatives when it launched futures contracts in gold and silver on 1 October 2018.

The Pradhan Mantri Jan Dhan Yojana was launched on 28 August 2014 as a national mission to give every household a bank account.

It keeps the Central KYC Records Registry, in which banks and other reporting entities file the KYC records of their customers with a unique KYC identifier.