UPSC Civil Services GK Questions 2026

RTGS, which settles large-value transactions one by one in real time, and NEFT, which settles in batches, are both owned and operated by the Reserve Bank, and both have been available round the clock on all days.

The guidelines issued in September 2022 require that all loan money move directly between the borrower’s bank account and the bank account of the regulated entity, that is the bank or non-banking finance company doing the lending, without any pool or pass-through account of a third party in between.

e-RUPI is a prepaid electronic voucher, delivered to the beneficiary as an SMS string or a QR code, which can be redeemed only by the named person and only for the named purpose, for example a vaccination or a diagnostic test.

The retail digital rupee earns no interest, and this is a deliberate design decision: an interest-bearing CBDC would pull money out of bank deposits and shrink the funds banks have to lend, so the Reserve Bank kept it non-interest bearing like cash.

The National Payments Corporation of India was incorporated in 2008 at the initiative of the Reserve Bank of India and the Indian Banks’ Association as the umbrella organisation for retail payments in India, and it is a not-for-profit company under what is now Section 8 of the Companies Act.

An FIP is the institution that already holds the customer’s data — a bank, a non-banking finance company, an insurer, a mutual fund or a pension fund — and releases it when a valid consent artefact is presented.

The digital rupee is money, a liability of the Reserve Bank, so a transfer from one wallet to another is final the moment it happens and no interbank settlement follows.

The wholesale pilot began on 1 November 2022 with a small group of banks, and its first use case was settling the secondary market leg of Government security trades, because that removes the need for a separate settlement guarantee arrangement and frees collateral.

The Finance Act, 2022 amended Section 2 of the Reserve Bank of India Act so that the expression bank note includes a bank note issued in digital form, which gave the digital rupee the status of legal tender.

The National Council of Science Museums was set up in 1978 as an autonomous body under the Ministry of Culture with its headquarters at Kolkata, and it runs the network of science centres and science cities across the country.

The Thanjavur Maharaja Serfoji’s Saraswathi Mahal Library stands within the Thanjavur palace complex in Tamil Nadu.

Shiyali Ramamrita Ranganathan, a mathematician who became the first librarian of the University of Madras, is called the father of library science in India.

The Rampur Raza Library is at Rampur in western Uttar Pradesh, housed in the Hamid Manzil inside the Rampur fort.

International Museum Day has been observed on 18 May since 1977 on the announcement of the International Council of Museums, a non-governmental body founded in 1946 with its headquarters at Paris, and each year it carries a theme.

It obliges a publisher to deliver one copy of every book published in India to the National Library at Kolkata and one copy each to the Connemara Public Library at Chennai, the Central Library at Mumbai and the Delhi Public Library; these four are the National Depository Libraries.

It was set up at Calcutta in 1891 to bring together the scattered records of the Government of India, shifted to New Delhi after the capital was transferred, and occupied its present building on Janpath, designed by Edwin Lutyens, in 1926.

The Imperial Library was created by the Imperial Library Act of 1902 and opened to readers in 1903 on Curzon’s initiative; he merged the collections of the Calcutta Public Library of 1836 with the Home Department secretariat libraries to form a single library of record.

The National Library of India stands in the Belvedere Estate at Alipore in Kolkata, in a building that was once the residence of the Lieutenant Governor of Bengal.

The Salar Jung Museum stands on the south bank of the Musi river at Hyderabad and holds the collection built up mainly by Mir Yousuf Ali Khan, Salar Jung III, the Prime Minister of the Nizam of Hyderabad.

It was founded in 1814 by the Asiatic Society of Bengal and is the oldest museum in India as well as the largest multipurpose museum in the country, with sections for art, archaeology, anthropology, geology, zoology and economic botany.