SBI GK Questions 2026

It is a term deposit held in a permitted foreign currency such as the US dollar, pound sterling, euro or yen, for a period of one to five years, and both principal and interest are repaid in that currency, so a change in the rupee rate does not affect the…

Under the Banking Regulation Act as amended, a bank must transfer to this fund, maintained by the Reserve Bank of India, any deposit that has not been operated or claimed for ten years.

In a recurring deposit the customer promises to pay a fixed sum every month for a chosen period, and the bank pays interest at a rate close to that on a term deposit of the same maturity, the whole amount being returned with interest at the end.

A small account is opened for a person who has no officially valid document, on the strength of a self-attested photograph and a signature or thumb impression made before a bank officer.

The Deposit Insurance and Credit Guarantee Corporation, a wholly owned subsidiary of the Reserve Bank of India set up in 1978, insures deposits in commercial banks, regional rural banks, local area banks, payments and small finance banks and cooperative banks.

Banks classify customers as low, medium or high risk when the account is opened, on the basis of identity, social and financial standing and the nature of the expected business.

The Basic Savings Bank Deposit Account replaced the earlier no-frills account as the vehicle of financial inclusion.

The list of officially valid documents in the KYC rules is closed and contains the passport, the driving licence, proof of possession of an Aadhaar number, the voter identity card issued by the Election Commission, a job card issued under MGNREGA and signed by an officer of the state government…

Know Your Customer rules exist to stop the banking system being used to launder the proceeds of crime or to finance terrorism.

A current account is meant for traders, firms and companies that need to receive and pay money many times a day.

MICR stands for Magnetic Ink Character Recognition, a technology in which the characters are printed in magnetic ink so that a machine can read them even if the paper is stamped or signed over.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act was passed in 2002.

The Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of the Reserve Bank of India, and it insures the deposits held in banks.

NABARD was set up in 1982 on the recommendation of the committee headed by B Sivaraman, and its head office is at Mumbai.

Under the asset classification norms of the Reserve Bank of India, a term loan becomes a Non Performing Asset when interest or an instalment of principal stays overdue for more than ninety days.

CASA is the combined balance a bank holds in the current accounts and the savings accounts of its customers. These are the cheapest deposits a bank can have, because a current account pays no interest at all and a savings account pays very little, unlike a fixed deposit.

RTGS was designed for large value payments, so the Reserve Bank of India fixed a floor of two lakh rupees for a single transaction and set no ceiling at all.

The Indian Financial System Code is an eleven character alphanumeric code that identifies a particular bank branch taking part in the electronic payment systems of the Reserve Bank of India.

SWIFT is the international messaging network over which banks send payment and guarantee instructions across borders.

The tools of the Reserve Bank are divided into quantitative tools, which change the total amount of credit in the system, and qualitative or selective tools, which change the direction in which that credit flows.