This RBI current affairs quiz puts 12 multiple-choice questions to you from 3 stories published on 2 September 2026 that matter for the RBI general awareness section. The questions are the same verified MCQs that accompany GK24's articles, chosen here for their relevance to RBI, and every one carries a full explanation of the correct option and of why the other options are wrong. Attempt the quiz within the timer, review the explanations at the end, and read the stories behind the questions on their articles or the day's edition page. Bookmark it for a quick revision before the exam.
12 questions with answers and explanations
What is the base year of India's updated series of annual and quarterly GDP estimates?
The backgrounder states that the updated series of annual and quarterly GDP estimates, released on 31 August 2026, takes 2022-23 as its base year.
Read the full explanation →Japan Credit Rating Agency upgraded India's long-term sovereign issuer ratings from BBB+ to which level?
The agency moved both the long-term foreign currency issuer rating and the long-term local currency issuer rating up by exactly one notch, from BBB+ to A-, and kept the outlook at stable.
Read the full explanation →How much had IFSC Banking Units at GIFT City sanctioned under the RBI's FCNR(B) swap facility as on 31 August 2026?
That is the figure twenty IFSC Banking Units had sanctioned under the Reserve Bank's special swap facility for FCNR(B) deposits as on 31 August 2026, and about USD 52.82 billion of it had already been disbursed.
Read the full explanation →Under double deflation, which two items are deflated separately to arrive at real Gross Value Added?
Double deflation is a production-side technique: gross output is deflated with one price index and intermediate consumption with another, and real Gross Value Added is what remains after subtracting the second from the first.
Read the full explanation →According to the release, the Central Government's fiscal deficit in FY26 stood at:
JCR noted that the Centre's fiscal deficit came down from 4.7 per cent in FY25 to 4.4 per cent in FY26, and that this happened while capital spending was kept high, with infrastructure investment given particular weight.
Read the full explanation →Under which law was the International Financial Services Centres Authority established?
The release describes IFSCA as the unified regulatory authority set up by the Government of India under an Act of Parliament for the development and regulation of financial products, financial services and financial institutions in India's International Financial Services Centres.
Read the full explanation →GDP at current prices for the first quarter of 2026-27 was estimated at:
The release says the first quarter of 2026-27 should be compared with the earlier first-quarter figure from the same series, and in doing so it names the current-price estimate for the quarter.
Read the full explanation →Which of these agencies did NOT upgrade India's sovereign rating during the year before the JCR decision?
It is a multilateral development bank that lends to its member countries; it is not a credit rating agency and assigns no sovereign ratings, so it cannot appear in this list.
Read the full explanation →How much did Indian banks raise through bond listings on IFSC exchanges between April and August 2026?
Indian banks raised that amount through bond listings on IFSC exchanges over the five months from April to August 2026.
Read the full explanation →Why did the mining and quarrying sector show real GVA growth of -2.4 per cent but nominal GVA growth of 22.3 per cent?
Constant-price estimates for mining are built from the Index of Industrial Production, which grew -3.8 per cent in April, -1.4 per cent in May and 1.6 per cent in June, broadly matching real GVA growth of -2.4 per cent.
Read the full explanation →Which reform did JCR credit with strengthening the asset quality of India's banking sector?
JCR pointed to three things behind the better asset quality of Indian banks: the establishment of this Code, the capital the Government infused into banks, and stronger supervision by the Reserve Bank of India.
Read the full explanation →Who is the Chairperson of IFSCA, as named in the release?
He is quoted in the release saying that the rapid scale-up of banking activity at GIFT-IFSC shows the depth and growing international orientation of India's International Financial Services Centre, and that the centre is serving as an effective bridge between global pools of capital and India's financing needs.
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