UPSC Civil Services GK Questions 2026

In a non-fund based facility the bank does not part with money at the time the facility is granted; it only undertakes to pay if the customer fails to, and it charges a commission for that undertaking.

The Pradhan Mantri MUDRA Yojana was launched in April 2015 to refinance small business loans given by banks, non-banking finance companies and micro finance institutions to non-farm income generating activities.

A domestic scheduled commercial bank must lend forty per cent of its adjusted net bank credit, or of the credit equivalent of its off balance sheet exposure if that is higher, to the priority sector.

The real rate of interest is the nominal rate less the rate of inflation, so seven per cent minus six per cent leaves roughly one per cent.

The marginal standing facility lets a bank borrow overnight from the Reserve Bank by dipping into the government securities it holds for the statutory liquidity ratio, up to a prescribed share of its net demand and time liabilities.

Under the Reserve Bank's income recognition and asset classification norms, a term loan becomes a non-performing asset when interest or an instalment of principal stays overdue beyond ninety days, and a cash credit or overdraft account becomes one when it remains out of order for the same period.

Section 58 of that Act defines a mortgage as the transfer of an interest in specific immovable property to secure a loan, and it names six kinds: simple mortgage, mortgage by conditional sale, usufructuary mortgage, English mortgage, mortgage by deposit of title deeds, which is also called an equitable mortgage…

In hypothecation a charge is created on movable property, such as a financed vehicle or the stock in a trader's shop, while the borrower keeps and uses the goods.

Under the BPLR system a bank announced a prime rate for its best customers and then lent to many borrowers below it, so the announced rate told a customer very little and the lending book was not transparent.

The Reserve Bank introduced the MCLR from that date so that the price of a loan would follow the marginal, that is the latest, cost of raising funds rather than the average cost of old deposits.

The South Asia Poverty Alleviation Programme model is called the international model of self help group formation because it was taken up with the support of the United Nations Development Programme and followed the same design across South Asian countries, beginning in India in the districts of Andhra Pradesh.

The Kisan Credit Card scheme was introduced in 1998 on the recommendation of the R V Gupta Committee and is worked by commercial banks, regional rural banks and cooperative banks.

Wangala is the post-harvest thanksgiving festival of the Garo tribe of Meghalaya, held in the autumn in honour of the sun deity Misi Saljong.

The Surajkund International Crafts Mela is held every February at Surajkund in Faridabad district of Haryana, near the Delhi border.

In the Rath Yatra of Puri, three chariots are drawn from the Jagannath temple to the Gundicha temple in the month of Ashadha.

Chapchar Kut is the best known festival of Mizoram, celebrated in late February or March after the jhum fields have been cleared and before the sowing.

Ganesh Chaturthi in the month of Bhadrapada had long been a household worship in Maharashtra. In 1893 Tilak organised it as a community celebration with public pandals, processions and lectures, so that people of every caste could gather in one place at a time when political meetings were watched.

Onam is the harvest festival of Kerala, celebrated in the Malayalam month of Chingam, and remembers the yearly return of the mythical king Mahabali to his people.

Rongali Bihu, also called Bohag Bihu, falls in mid-April at the start of the Assamese month of Bohag and opens the new year and the sowing season.

The Hornbill Festival is held at the Naga heritage village of Kisama near Kohima from 1 to 10 December, the state formation day being 1 December.