Banking & Finance GK
“Explore 400+ Banking and Finance GK questions with answers covering RBI, monetary policy, banking terms, financial schemes, and current updates. Perfect for IBPS, SBI, RBI Grade B, SSC, UPSC, and other competitive exams.”
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Banking Basics
1. Q: Which is the central bank of India?
A: Reserve Bank of India (RBI)
2. Q: When was RBI established?
A: 1 April 1935
3. Q: Where is RBI headquarters?
A: Mumbai
4. Q: Who is the current RBI Governor (2025)?
A: Shaktikanta Das
5. Q: Which is the largest public sector bank in India?
A: State Bank of India (SBI)
6. Q: Which is the largest private sector bank in India?
A: HDFC Bank
7. Q: Which is the first bank in India?
A: Bank of Hindustan (1770)
8. Q: What is the minimum age to open a savings account in India?
A: 10 years (with guardian’s permission)
9. Q: What is Repo Rate?
A: Rate at which RBI lends money to banks
10. Q: What is Reverse Repo Rate?
A: Rate at which RBI borrows money from banks
Financial Terms
11. Q: What is CRR (Cash Reserve Ratio)?
A: Portion of deposits kept with RBI
12. Q: What is SLR (Statutory Liquidity Ratio)?
A: Portion of deposits banks keep in gold, cash, or securities
13. Q: What is NPA (Non-Performing Asset)?
A: Loan unpaid for 90+ days
14. Q: What is Inflation?
A: Rise in prices, fall in purchasing power
15. Q: What is Fiscal Deficit?
A: Government expenditure > Government income
16. Q: What is Monetary Policy?
A: Policy to control money supply (by RBI)
17. Q: What is RTGS?
A: Real Time Gross Settlement (instant large value transfer)
18. Q: What is NEFT?
A: National Electronic Funds Transfer (hourly settlements)
19. Q: What is IMPS?
A: Immediate Payment Service (24x7 transfer)
20. Q: What is UPI?
A: Unified Payments Interface (instant mobile payments)
Schemes & Acts
21. Q: Full form of PMJDY?
A: Pradhan Mantri Jan Dhan Yojana
22. Q: When was PMJDY launched?
A: 2014
23. Q: Which act regulates banks in India?
A: Banking Regulation Act, 1949
24. Q: Which act helps banks recover NPAs?
A: SARFAESI Act, 2002
25. Q: What is “Financial Inclusion”?
A: Providing banking services to all sections of society
26. Q: Which scheme provides accident insurance at ₹12/year?
A: PMSBY (Pradhan Mantri Suraksha Bima Yojana)
27. Q: Which scheme provides life insurance at ₹330/year?
A: PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana)
28. Q: Which pension scheme is for unorganized workers?
A: Atal Pension Yojana
29. Q: Who regulates the Insurance sector in India?
A: IRDAI (Insurance Regulatory and Development Authority of India)
30. Q: Who regulates the Stock Market in India?
A: SEBI (Securities and Exchange Board of India)
Important Organizations
31. Q: Where is World Bank headquarters?
A: Washington D.C., USA
32. Q: Where is IMF headquarters?
A: Washington D.C., USA
33. Q: Where is Asian Development Bank (ADB) HQ?
A: Manila, Philippines
34. Q: Where is BRICS Bank (NDB) HQ?
A: Shanghai, China
35. Q: Who is called “Banker to the Government”?
A: RBI
36. Q: Who issues currency notes in India?
A: RBI
37. Q: Which note is not issued by RBI?
A: ₹1 note (issued by Ministry of Finance)
38. Q: Which bank is known as “India’s International Bank”?
A: Bank of Baroda
39. Q: Which bank is called “India’s first digital-only bank”?
A: Jio Financial Services (under process, 2025)
40. Q: Which Indian bank launched the first ATM?
A: HSBC (Mumbai, 1987)
Current Affairs (2025)
41. Q: Which payment system crossed 20 billion+ monthly transactions in 2025?
A: UPI
42. Q: Which bank merged with HDFC Ltd in 2023?
A: HDFC Bank
43. Q: Which is the world’s largest stock exchange by market cap (2025)?
A: New York Stock Exchange (NYSE)
44. Q: Which is India’s largest stock exchange?
A: NSE (National Stock Exchange)
45. Q: What is India’s digital currency called?
A: e-Rupee (CBDC – Central Bank Digital Currency)
46. Q: Who issues e-Rupee in India?
A: RBI
47. Q: Which bank is known as “India’s oldest public sector bank”?
A: Allahabad Bank (now merged with Indian Bank)
48. Q: Which country is the largest foreign investor in India (2025)?
A: Singapore
49. Q: Which is the largest mutual fund company in India?
A: SBI Mutual Fund
50. Q: What is the current status of India’s economy (2025)?
A: 3rd largest economy (nominal GDP)
Banking History
51. Q: Which was the first bank to be nationalized in India?
A: Imperial Bank of India (renamed as State Bank of India in 1955)
52. Q: In which year was the first phase of bank nationalization done?
A: 1969 (14 major banks)
53. Q: In which year was the second phase of bank nationalization done?
A: 1980 (6 banks)
54. Q: How many public sector banks are there in India (2025)?
A: 12
55. Q: Which Indian bank was the first to introduce internet banking?
A: ICICI Bank
56. Q: Which Indian bank was the first to launch a credit card?
A: Central Bank of India (1980)
57. Q: Which is India’s first green bank?
A: Yes Bank
58. Q: Which bank introduced mobile banking in India?
A: ICICI Bank (i-Mobile app)
59. Q: Which bank introduced the concept of “Talking ATMs” for the blind?
A: Union Bank of India
60. Q: Which Indian bank is also known as “India’s premier development bank”?
A: IDBI Bank (before conversion to commercial bank)
RBI & Monetary Policy
61. Q: When was RBI nationalized?
A: 1949
62. Q: How many members are there in RBI’s Monetary Policy Committee (MPC)?
A: 6
63. Q: Who chairs the Monetary Policy Committee?
A: RBI Governor
64. Q: Which body recommends repo rate changes in India?
A: Monetary Policy Committee (MPC)
65. Q: What is the maximum denomination note issued in India?
A: ₹2000 (but being withdrawn since 2023)
66. Q: Which Indian note has Mangalyaan printed on it?
A: ₹2000 note
67. Q: Which Indian note has Hampi with Chariot printed on it?
A: ₹50 note
68. Q: Which Indian note has Red Fort printed on it?
A: ₹500 note
69. Q: Which Indian note has Rani ki Vav printed on it?
A: ₹100 note
70. Q: Which Indian note has Sanchi Stupa printed on it?
A: ₹200 note
Banking Technology
71. Q: What does IFSC stand for?
A: Indian Financial System Code
72. Q: How many characters are there in an IFSC code?
A: 11
73. Q: What does MICR stand for?
A: Magnetic Ink Character Recognition
74. Q: How many digits are there in a MICR code?
A: 9
75. Q: What is SWIFT code used for?
A: International fund transfer
76. Q: How many digits are there in an Indian bank account number (generally)?
A: 11 to 18 digits (varies by bank)
77. Q: What does CBS stand for in banking?
A: Core Banking Solution
78. Q: What is the full form of ATM?
A: Automated Teller Machine
79. Q: Which bank launched India’s first digital branch “Pingle” in 2014?
A: ICICI Bank
80. Q: Which app is India’s most popular UPI app (2025)?
A: PhonePe
International Banking
81. Q: Where is Bank for International Settlements (BIS) headquarters?
A: Basel, Switzerland
82. Q: Where is European Central Bank (ECB) located?
A: Frankfurt, Germany
83. Q: Where is African Development Bank headquarters?
A: Abidjan, Ivory Coast
84. Q: Where is World Trade Organization (WTO) headquarters?
A: Geneva, Switzerland
85. Q: Which Indian was the first to become Chief Economist of IMF?
A: Raghuram Rajan
86. Q: Who is the current President of World Bank (2025)?
A: Ajay Banga
87. Q: Which country holds the highest voting power in IMF?
A: United States
88. Q: What is the currency of IMF transactions called?
A: SDR (Special Drawing Rights)
89. Q: What is the currency of World Bank?
A: It doesn’t issue currency, it lends in USD and other major currencies
90. Q: Where is the headquarters of Asian Infrastructure Investment Bank (AIIB)?
A: Beijing, China
Miscellaneous Banking GK
91. Q: Which is the first bank in India to launch an AI-powered chatbot?
A: HDFC Bank (Eva)
92. Q: Which is India’s first Payments Bank?
A: Airtel Payments Bank
93. Q: Which is India’s first Small Finance Bank?
A: Capital Small Finance Bank (2016)
94. Q: Which Indian bank’s tagline is “Pure Banking, Nothing Else”?
A: State Bank of India (SBI)
95. Q: Which Indian bank’s tagline is “We Understand Your World”?
A: HDFC Bank
96. Q: Which Indian bank’s tagline is “India’s International Bank”?
A: Bank of Baroda
97. Q: Which bank was founded by Lala Lajpat Rai?
A: Punjab National Bank (PNB)
98. Q: Which bank is known as “The Banker to Every Indian”?
A: State Bank of India (SBI)
99. Q: Which bank is known as “Technology-driven Bank of India”?
A: ICICI Bank
100. Q: Which is the first bank to be established after independence?
A: UCO Bank (1943, but nationalized
after independence)
Indian Banking Structure
101. Q: How many scheduled commercial banks are there in India (2025)?
A: Around 140 (including public, private, foreign, RRBs, SFBs, PBs)
102. Q: What does “Scheduled Bank” mean?
A: A bank listed in the 2nd schedule of RBI Act, 1934
103. Q: What is the minimum capital requirement for a Small Finance Bank?
A: ₹200 crore
104. Q: What is the minimum capital requirement for a Payments Bank?
A: ₹100 crore
105. Q: Which committee recommended the formation of Regional Rural Banks (RRBs)?
A: Narasimham Committee (1975)
106. Q: Who regulates Regional Rural Banks (RRBs)?
A: NABARD (sponsored by commercial banks)
107. Q: In which year were RRBs established in India?
A: 1975
108. Q: Which was the first RRB in India?
A: Prathama Bank (U.P., 1975)
109. Q: What is the ownership structure of RRBs?
A: Central Govt (50%), State Govt (15%), Sponsor Bank (35%)
110. Q: Which bank is known as the “Apex Bank for Agriculture and Rural Development”?
A: NABARD
Financial Regulators in India
111. Q: What does SEBI stand for?
A: Securities and Exchange Board of India
112. Q: In which year was SEBI established?
A: 1988 (Statutory in 1992)
113. Q: Where is SEBI headquarters?
A: Mumbai
114. Q: Who regulates the Insurance sector in India?
A: IRDAI (Hyderabad HQ)
115. Q: Who regulates the Pension sector in India?
A: PFRDA (Pension Fund Regulatory and Development Authority)
116. Q: Where is IRDAI headquarters?
A: Hyderabad
117. Q: Where is PFRDA headquarters?
A: New Delhi
118. Q: Which organization regulates NBFCs in India?
A: RBI
119. Q: Which body regulates the commodity market in India?
A: SEBI (since 2015)
120. Q: Who is the current SEBI Chairperson (2025)?
A: Madhabi Puri Buch
Bank Taglines (Popular Slogans)
121. Q: Which bank’s tagline is “The Name You Can Bank Upon”?
A: Punjab National Bank (PNB)
122. Q: Which bank’s tagline is “The Power of Dreams”?
A: Canara Bank
123. Q: Which bank’s tagline is “Together We Can”?
A: Indian Bank
124. Q: Which bank’s tagline is “Trusted Family Bank”?
A: Dhanlaxmi Bank
125. Q: Which bank’s tagline is “Prosperity for All”?
A: Allahabad Bank (now merged with Indian Bank)
126. Q: Which bank’s tagline is “Banking That’s Twice As Good”?
A: IDBI Bank
127. Q: Which bank’s tagline is “A Tradition of Trust”?
A: Bank of India
128. Q: Which bank’s tagline is “Good People to Bank With”?
A: Union Bank of India
129. Q: Which bank’s tagline is “Your Perfect Banking Partner”?
A: Federal Bank
130. Q: Which bank’s tagline is “Smart Way to Bank”?
A: Karur Vysya Bank
Indian Financial Market
131. Q: What is Sensex?
A: Stock market index of BSE (30 companies)
132. Q: What is Nifty 50?
A: Stock market index of NSE (50 companies)
133. Q: Where is Bombay Stock Exchange (BSE) located?
A: Mumbai
134. Q: Which is the oldest stock exchange in Asia?
A: Bombay Stock Exchange (BSE, 1875)
135. Q: Which is the largest stock exchange in India?
A: NSE (by trading volume)
136. Q: What is market capitalization?
A: Total value of a company’s shares on stock market
137. Q: What is IPO?
A: Initial Public Offering (when company lists shares first time)
138. Q: What is FII?
A: Foreign Institutional Investor
139. Q: What is FDI?
A: Foreign Direct Investment
140. Q: Which Indian company has the highest market cap (2025)?
A: Reliance Industries Ltd.
Important Banking Committees
141. Q: Narasimham Committee is related to?
A: Banking sector reforms
142. Q: Nachiket Mor Committee is related to?
A: Financial Inclusion
143. Q: Urjit Patel Committee is related to?
A: Monetary Policy Framework
144. Q: PJ Nayak Committee is related to?
A: Governance of Banks
145. Q: Deepak Mohanty Committee is related to?
A: Financial Inclusion
146. Q: Ghosh Committee is related to?
A: Rural credit system
147. Q: Khan Committee is related to?
A: Financial Inclusion (banking correspondents)
148. Q: Rag
huram Rajan Committee is related to?
A: Financial Sector Reforms
149. Q: Malhotra Committee is related to?
A: Insurance sector reforms
150. Q: Rangarajan Committee is related to?
A: Computerization of Banks
Indian Currency System
151. Q: Who signs the Indian ₹1 note?
A: Secretary, Ministry of Finance
152. Q: Who signs Indian currency notes (except ₹1)?
A: RBI Governor
153. Q: What is the motto printed on Indian currency notes?
A: “Satyameva Jayate”
154. Q: When was decimal currency introduced in India?
A: 1 April 1957
155. Q: What was the smallest denomination coin in India before decimalization?
A: 1 anna (16 annas = 1 rupee)
156. Q: Which polymer note was first introduced in India?
A: ₹10 polymer note (trial in 2015, limited circulation)
157. Q: Which Indian note has Konark Sun Temple image?
A: ₹10 note
158. Q: Which Indian note has Ellora Caves image?
A: ₹20 note
159. Q: Which Indian note has Parliament House image (old series)?
A: ₹1000 note (discontinued in 2016)
160. Q: Which Indian note has Mahatma Gandhi’s image?
A: All notes except ₹
Bank Mergers in India
161. Q: In 2017, which banks merged with State Bank of India (SBI)?
A: 5 associate banks + Bharatiya Mahila Bank
162. Q: In 2019, which banks merged with Bank of Baroda?
A: Vijaya Bank and Dena Bank
163. Q: In 2020, which banks merged with Punjab National Bank (PNB)?
A: Oriental Bank of Commerce & United Bank of India
164. Q: In 2020, which banks merged with Canara Bank?
A: Syndicate Bank
165. Q: In 2020, which banks merged with Union Bank of India?
A: Andhra Bank & Corporation Bank
166. Q: In 2020, which banks merged with Indian Bank?
A: Allahabad Bank
167. Q: Which bank merged with HDFC Ltd in 2023?
A: HDFC Bank
168. Q: How many public sector banks were there before mergers (2017)?
A: 27
169. Q: How many public sector banks remain after mergers (2025)?
A: 12
170. Q: Which merger created India’s largest private sector bank?
A: HDFC Bank & HDFC Ltd (2023)
International Finance
171. Q: Where is the headquarters of International Finance Corporation (IFC)?
A: Washington D.C., USA
172. Q: Where is the headquarters of International Development Association (IDA)?
A: Washington D.C., USA
173. Q: Where is the headquarters of International Monetary Fund (IMF)?
A: Washington D.C., USA
174. Q: What is the currency of World Bank loans?
A: USD and other major currencies
175. Q: Which country is the largest borrower from World Bank?
A: India
176. Q: Which country has the highest quota in IMF?
A: United States
177. Q: What is the voting system in IMF based on?
A: Quotas (financial contribution)
178. Q: Which organization provides “Ease of Doing Business Report”?
A: World Bank (stopped in 2021)
179. Q: Which organization publishes “Global Financial Stability Report”?
A: IMF
180. Q: Which organization publishes “World Development Report”?
A: World Bank
Banking Abbreviations
181. Q: What does NABARD stand for?
A: National Bank for Agriculture and Rural Development
182. Q: What does SIDBI stand for?
A: Small Industries Development Bank of India
183. Q: What does EXIM Bank stand for?
A: Export-Import Bank of India
184. Q: What does NHB stand for?
A: National Housing Bank
185. Q: What does RRB stand for?
A: Regional Rural Bank
186. Q: What does CBS stand for?
A: Core Banking Solution
187. Q: What does UPI stand for?
A: Unified Payments Interface
188. Q: What does NEFT stand for?
A: National Electronic Funds Transfer
189. Q: What does RTGS stand for?
A: Real Time Gross Settlement
190. Q: What does IMPS stand for?
A: Immediate Payment Service
Financial Inclusion & Digital Banking
191. Q: When was Pradhan Mantri Jan Dhan Yojana (PMJDY) launched?
A: 28 August 2014
192. Q: Which scheme offers overdraft facility up to ₹10,000?
A: PMJDY
193. Q: Which card is issued under PMJDY accounts?
A: RuPay Debit Card
194. Q: Which NPCI product is India’s domestic card scheme?
A: RuPay
195. Q: Which system enables Aadhaar-linked payments?
A: AEPS (Aadhaar Enabled Payment System)
196. Q: What is Bharat Bill Payment System (BBPS)?
A: A centralized bill payment system launched by NPCI
197. Q: What is BHIM app?
A: UPI-based mobile payment app launched in 2016
198. Q: Which country first adopted
UPI outside India?
A: Singapore (2022)
199. Q: Which organization manages UPI?
A: NPCI (National Payments Corporation of India)
200. Q: What is India’s central bank digital currency called?
A: e-Rupee (CBDC)
Important Banking Persons
201. Q: Who is known as the “Father of Indian Banking”?
A: R.K. Talwar (former SBI Chairman)
202. Q: Who is known as the “Father of Microfinance”?
A: Muhammad Yunus (Bangladesh, Grameen Bank)
203. Q: Who was the first Indian RBI Governor?
A: C.D. Deshmukh
204. Q: Who was the first Governor of RBI?
A: Sir Osborne Smith
205. Q: Who was the first woman to become RBI Deputy Governor?
A: K.J. Udeshi
206. Q: Who was the first woman to head a public sector bank in India?
A: Arundhati Bhattacharya (SBI)
207. Q: Who was the first woman CEO of ICICI Bank?
A: Chanda Kochhar
208. Q: Who is the current Finance Minister of India (2025)?
A: Nirmala Sitharaman
209. Q: Who was the first Finance Minister of independent India?
A: R.K. Shanmukham Chetty
210. Q: Who presented India’s first Union Budget?
A: R.K. Shanmukham Chetty (1947)
Banking & Economy
211. Q: What is GDP?
A: Gross Domestic Product – value of goods & services produced in a country
212. Q: What is GNP?
A: Gross National Product – GDP + income from abroad
213. Q: What is PPP in economics?
A: Purchasing Power Parity
214. Q: What is Per Capita Income?
A: National Income ÷ Population
215. Q: What is the current rank of India’s economy in nominal GDP (2025)?
A: 3rd largest
216. Q: Which country is the largest economy in the world (2025)?
A: United States
217. Q: Which country is the 2nd largest economy (2025)?
A: China
218. Q: Which country is the 5th largest economy (2025)?
A: United Kingdom
219. Q: What does “recession” mean?
A: Fall in economic activity for two consecutive quarters
220. Q: What does “stagflation” mean?
A: Inflation + unemployment + stagnant growth
Indian Financial Institutions
221. Q: When was NABARD established?
A: 1982
222. Q: When was SIDBI established?
A: 1990
223. Q: When was EXIM Bank established?
A: 1982
224. Q: When was NHB (National Housing Bank) established?
A: 1988
225. Q: Who regulates NHB?
A: RBI
226. Q: What is the main function of NABARD?
A: Financing agriculture and rural development
227. Q: What is the main function of SIDBI?
A: Promoting small-scale industries
228. Q: What is the main function of EXIM Bank?
A: Export and import financing
229. Q: What is the main function of NHB?
A: Housing finance
230. Q: Which bank acts as a refinancing agency for rural credit?
A: NABARD
Banking Services
231. Q: What is a Current Account?
A: A bank account for business transactions, no interest
232. Q: What is a Savings Account?
A: Deposit account with interest for individuals
233. Q: What is a Fixed Deposit (FD)?
A: Deposit with fixed tenure and higher interest rate
234. Q: What is a Recurring Deposit (RD)?
A: Deposit where fixed amount is paid monthly
235. Q: What is a Demand Draft (DD)?
A: Prepaid negotiable instrument for money transfer
236. Q: What is a Cheque?
A: Order to bank to pay money from account
237. Q: What is a Post-dated Cheque?
A: Cheque with future date written on it
238. Q: What is a Dishonoured Cheque?
A: Cheque returned unpaid
239. Q: What is a Bearer Cheque?
A: Payable to whoever presents it
240. Q: What is a Crossed Cheque?
A: Cheque payable only into a bank account
International Banking Terms
241. Q: What is LIBOR?
A: London Interbank Offered Rate
242. Q: What replaced LIBOR in 2023?
A: SOFR (Secured Overnight Financing Rate)
243. Q: What is SWIFT?
A: Society for Worldwide Interbank Financial Telecommunications
244. Q: What is Basel Committee?
A: International banking regulation committee (BIS)
245. Q: What is Basel III?
A: Global banking regulation for capital and risk
246. Q: What is FATF?
A: Financial Action Task Force (anti-money laundering body)
247. Q: Where is FATF headquarters?
A: Par
is, France
248. Q: What is G20?
A: Group of 20 major economies
249. Q: Which country hosted G20 Summit in 2023?
A: India (New Delhi)
250. Q: Which country will host G20 Summit in 2025?
A: South Africa
Banking Security & Laws
251. Q: What does KYC stand for?
A: Know Your Customer
252. Q: What documents are required for KYC?
A: Aadhaar, PAN, Passport, Voter ID, Driving License
253. Q: What does AML stand for?
A: Anti-Money Laundering
254. Q: What does CFT stand for in banking?
A: Combating Financing of Terrorism
255. Q: What is the full form of DICGC?
A: Deposit Insurance and Credit Guarantee Corporation
256. Q: What is the maximum deposit insurance in India?
A: ₹5 lakh per depositor per bank
257. Q: DICGC is a subsidiary of which organization?
A: RBI
258. Q: What does SARFAESI Act deal with?
A: Recovery of bad loans (NPAs)
259. Q: What does FEMA stand for?
A: Foreign Exchange Management Act (1999)
260. Q: What does PMLA stand for?
A: Prevention of Money Laundering Act (2002)
Banking & Insurance
261. Q: What does Bancassurance mean?
A: Selling insurance products through banks
262. Q: What is Life Insurance?
A: Contract providing financial coverage on death
263. Q: What is General Insurance?
A: Insurance other than life (health, vehicle, property etc.)
264. Q: What is Reinsurance?
A: Insurance for insurance companies
265. Q: Which is the largest insurance company in India?
A: Life Insurance Corporation of India (LIC)
266. Q: LIC was established in which year?
A: 1956
267. Q: What does IRDAI regulate?
A: Insurance sector in India
268. Q: Where is LIC headquarters?
A: Mumbai
269. Q: LIC was listed on stock exchange in which year?
A: 2022
270. Q: Which is the first private life insurance company in India (post liberalization)?
A: ICICI Prudential Life Insurance
Indian Economy – Reports & Surveys
271. Q: Who publishes Economic Survey of India?
A: Ministry of Finance
272. Q: Who prepares the Union Budget of India?
A: Ministry of Finance
273. Q: When is Union Budget usually presented?
A: 1st February every year
274. Q: Who prepares the “India Development Report”?
A: Indira Gandhi Institute of Development Research (IGIDR)
275. Q: Who publishes “Global Competitiveness Report”?
A: World Economic Forum (WEF)
276. Q: Who publishes “World Economic Outlook”?
A: IMF
277. Q: Who publishes “Human Development Report”?
A: UNDP
278. Q: Who publishes “Ease of Doing Business Report”?
A: World Bank (discontinued in 2021)
279. Q: Who publishes “Global Hunger Index”?
A: Concern Worldwide & Welthungerhilfe
280. Q: Who publishes “World Happiness Report”?
A: United Nations Sustainable Development Solutions Network
Digital Banking & Fintech
281. Q: What does FinTech stand for?
A: Financial Technology
282. Q: What is a Digital Wallet?
A: Software to store money for digital payments
283. Q: Give two examples of Indian Digital Wallets.
A: Paytm, PhonePe
284. Q: What does NPCI stand for?
A: National Payments Corporation of India
285. Q: Which NPCI product enables instant mobile payments?
A: UPI
286. Q: What does BBPS stand for?
A: Bharat Bill Payment System
287. Q: What does AEPS stand for?
A: Aadhaar Enabled Payment System
288. Q: What is e-KYC?
A: Paperless KYC using Aadhaar OTP/biometrics
289. Q: What does API stand for in FinTech?
A: Application Programming Interface
290. Q: What is “Open Banking”?
A: Sharing of banking data with third parties using APIs
Banking Awareness – Miscellaneous
291. Q: What is Repo Rate as of 2025?
A: 6.50% (subject to change by RBI)
292. Q: What is Reverse Repo Rate as of 2025?
A: 3.35% (subject to change by RBI)
293. Q: What is MSF (Marginal Standing Facility)?
A: RBI lending facility for emergency needs of banks
294. Q: What is Bank Rate?
A: Long-term lending rate of RBI to commercial banks
295. Q: What is Call Money Market?
A: Market where banks lend/borrow overnight funds
296. Q: What is White Label ATM?
A: ATM owned by non-banking company
297. Q: What is Brown Label ATM?
A: ATM owned by third party but operated by bank
298. Q: What is Green Banking?
A: Environmentally friendly banking p
ractices
299. Q: What is Offshore Banking?
A: Banking services in foreign countries for residents/non-residents
300. Q: What is Shadow Banking?
A: Financial activities by NBFCs outside regular banking system
Financial Institutions in India
301. Q: What does NABARD stand for?
A: National Bank for Agriculture and Rural Development
302. Q: In which year was NABARD established?
A: 1982
303. Q: Where is NABARD headquarters?
A: Mumbai
304. Q: What does SIDBI stand for?
A: Small Industries Development Bank of India
305. Q: When was SIDBI established?
A: 1990
306. Q: Where is SIDBI headquarters?
A: Lucknow
307. Q: What does EXIM Bank stand for?
A: Export-Import Bank of India
308. Q: When was EXIM Bank established?
A: 1982
309. Q: Where is EXIM Bank headquarters?
A: Mumbai
310. Q: What is the main function of EXIM Bank?
A: Financing and promoting foreign trade
Stock Market & Securities
311. Q: What does SEBI stand for?
A: Securities and Exchange Board of India
312. Q: When was SEBI established?
A: 1988 (given statutory powers in 1992)
313. Q: Where is SEBI headquarters?
A: Mumbai
314. Q: What is the function of SEBI?
A: Regulates capital market in India
315. Q: What does IPO stand for?
A: Initial Public Offering
316. Q: What does FPO stand for?
A: Follow-on Public Offering
317. Q: What does NSE stand for?
A: National Stock Exchange
318. Q: Where is NSE headquarters?
A: Mumbai
319. Q: What does BSE stand for?
A: Bombay Stock Exchange
320. Q: Where is BSE headquarters?
A: Mumbai
Important Stock Indices
321. Q: What is the benchmark index of NSE?
A: NIFTY 50
322. Q: What is the benchmark index of BSE?
A: SENSEX
323. Q: How many companies are included in SENSEX?
A: 30
324. Q: How many companies are included in NIFTY 50?
A: 50
325. Q: What does Market Capitalization mean?
A: Total market value of a company’s shares
326. Q: What does Bull Market mean?
A: Period of rising stock prices
327. Q: What does Bear Market mean?
A: Period of falling stock prices
328. Q: What does Insider Trading mean?
A: Trading using non-public, confidential information
329. Q: What is Short Selling?
A: Selling borrowed shares to buy back at lower price
330. Q: What is Demat Account?
A: Account to hold securities in electronic form
International Finance
331. Q: Where is World Bank headquarters?
A: Washington, D.C., USA
332. Q: Where is IMF headquarters?
A: Washington, D.C., USA
333. Q: Who is the current President of World Bank (2025)?
A: Ajay Banga
334. Q: Who is the current Managing Director of IMF (2025)?
A: Kristalina Georgieva
335. Q: What does WTO stand for?
A: World Trade Organization
336. Q: Where is WTO headquarters?
A: Geneva, Switzerland
337. Q: What does OECD stand for?
A: Organisation for Economic Co-operation and Development
338. Q: Where is OECD headquarters?
A: Paris, France
339. Q: What does ADB stand for?
A: Asian Development Bank
340. Q: Where is ADB headquarters?
A: Manila, Philippines
Banking & Finance Abbreviations
341. Q: What does NEFT stand for?
A: National Electronic Funds Transfer
342. Q: What does RTGS stand for?
A: Real Time Gross Settlement
343. Q: What does IMPS stand for?
A: Immediate Payment Service
344. Q: What does UPI stand for?
A: Unified Payments Interface
345. Q: What does SWIFT stand for?
A: Society for Worldwide Interbank Financial Telecommunication
346. Q: What does MICR stand for?
A: Magnetic Ink Character Recognition
347. Q: What does IFSC stand for?
A: Indian Financial System Code
348. Q: What does ECS stand for?
A: Electronic Clearing Service
349. Q: What does IPO stand for in finance?
A: Initial Public Offering
350. Q: What does GDP stand for?
A: Gross Domestic Product
Indian Currency
351. Q: Who issues currency notes in India?
A: Reserve Bank of India (except ₹1 note issued by Ministry of Finance)
352. Q: What is the highest denomination currency note currently in circulation in India (2025)?
A: ₹2000 note (though being withdrawn gradually)
353. Q: Who signs Indian currency notes?
A: RBI Governor (except ₹1 note, signed by Finance Secretary)
354. Q: When was decimalization of Indian currency introduced?
A: 1 April 1957
355. Q: What is the currency symbol of Indian Rupee?
A: ₹
356. Q: Who designed the ₹ symbol?
A: Udaya Kumar Dharmalingam
357. Q: Which security feature is NOT present in ₹10 note?
A: Security thread (present only in higher denominations)
358. Q: What does “latent image” mean on a banknote?
A: Hidden number visible when viewed at an angle
359. Q: What does watermark in currency notes show?
A: Mahatma Gandhi portrait and denominational numeral
360. Q: What is “forged currency” called?
A: Counterfeit currency
Banking Operations
361. Q: What is KYC in banking?
A: Know Your Customer
362. Q: What is AML in banking?
A: Anti-Money Laundering
363. Q: What is CIBIL Score?
A: Credit score of individuals in India
364. Q: What is NACH in banking?
A: National Automated Clearing House
365. Q: What is CTS in banking?
A: Cheque Truncation System
366. Q: What does CASA stand for?
A: Current Account, Savings Account
367. Q: What is Bancassurance?
A: Selling of insurance products through banks
368. Q: What is the minimum capital requirement for Small Finance Banks?
A: ₹200 crore
369. Q: What is the minimum capital requirement for Payment Banks?
A: ₹100 crore
370. Q: What is the validity of a demand draft?
A: 3 months
Banking History in India
371. Q: Which was the first bank in India?
A: Bank of Hindustan (1770)
372. Q: Which is the oldest public sector bank in India still in existence?
A: State Bank of India (as Bank of Calcutta, 1806)
373. Q: When was SBI nationalized?
A: 1955
374. Q: In which year were 14 major Indian banks nationalized?
A: 1969
375. Q: In which year were 6 more banks nationalized?
A: 1980
376. Q: When was Punjab National Bank established?
A: 1894
377. Q: Where was Punjab National Bank founded?
A: Lahore
378. Q: Which bank merged with Bank of Baroda in 2019?
A: Dena Bank and Vijaya Bank
379. Q: Which is India’s first fully digital bank?
A: DBS Bank (Digibank India)
380. Q: In which year did ICICI Bank start operations?
A: 1994
Insurance Sector GK
381. Q: What does IRDAI stand for?
A: Insurance Regulatory and Development Authority of India
382. Q: When was IRDAI established?
A: 1999
383. Q: Where is IRDAI headquarters?
A: Hyderabad
384. Q: Which is the largest insurance company in India?A: Life Insurance Corporation of India (LIC)
385. Q: When was LIC established?
A: 1956
386. Q: Who regulates the insurance sector in India?
A: IRDAI
387. Q: What does ULIP stand for?
A: Unit Linked Insurance Plan
388. Q: What is Reinsurance?
A: Insurance taken by insurance companies from other insurers
389. Q: What does Actuary mean in insurance?
A: A professional who calculates financial risks and premiums
390. Q: What does Motor Third Party Insurance cover?
A: Liability for injury/death of third parties in road accidents
Miscellaneous Finance
391. Q: What does FDI stand for?
A: Foreign Direct Investment
392. Q: What does FII stand for?
A: Foreign Institutional Investor
393. Q: What is FEMA?
A: Foreign Exchange Management Act (1999)
394. Q: What is the purpose of FERA?
A: Foreign Exchange Regulation Act (replaced by FEMA in 1999)
395. Q: What is GNP?
A: Gross National Product
396. Q: What is PPP in economics?
A: Purchasing Power Parity / Public-Private Partnership (context-based)
397. Q: What is GST?
A: Goods and Services Tax (introduced in 2017)
398. Q: What does CBDT stand
for?
A: Central Board of Direct Taxes
399. Q: What does CBIC stand for?
A: Central Board of Indirect Taxes and Customs
400. Q: What is India’s current tax regime called?
A: GST (Goods and Services Tax) regime
