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General Knowledge for Competitive Exams

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How to change Soiled and mutilated Bank Notes as per RBI rules

Dec 13, 2017
If you have old and soiled Notes, then you can change these Notes by going to any commercial bank. The most convenient thing is that customer need not to have any account with the bank in which he is going to change the Notes. No bank can refuse to change your old and soiled old Notes because of the rules of the Reserve Bank of India (RBI).

What is the Sensex and how is it calculated

Dec 11, 2017
The Sensex measures the stock prices of 30 listed companies of the Bombay Stock Exchange. If the Sensex rises up, then it shows that the stock price of most companies of "Bombay Stock Exchange" (BSE) has increased and if the Sensex decreases; it shows that the stock price of most companies of BSE has dropped down. The main reason for the ups and downs in the Sensex is the fluctuations in the prices of these 30 companies.

How currency and coins are circulated in the Indian economy by the RBI

Dec 1, 2017
The establishment of Currency Chests or "currency vault" has been done by the RBI to smoothly circulate the banknotes in the economy. To open a Currency Chest, the RBI authorizes the selected branches of commercial banks. Bank notes are stored by RBI in these Currency Chests. Currency Chest supplies banknotes to other branches of commercial banks situated in the nearby area.

Where do Printing of Security Papers, Notes and Minting take Place in India?

Nov 10, 2017
Security Printing and Minting Corporation of India Limited (SPMCIL) is a Miniratna Category-I CPSE, and wholly owned Schedule ‘A’ Company of Government of India, is engaged in the manufacturing of security papers, minting of coins, printing of bank notes, non-judicial stamp papers, postage stamps and travel documents, etc.

List of Governors of Reserve Bank of India

Oct 31, 2017
Since its establishment in 1935, by the British colonial government, 24 people have worked as the governor of the Reserve Bank of India. The first Governor of the Reserve Bank of India was British banker Osborn Smith, while C.D. Deshmukh was the first Indian Governor of Reserve Bank of India. At present, the Governor of Reserve Bank of India, Urjit Patel, who took charge on September 4, 2016.

World's only bank which gives loan without any document

Oct 16, 2017
Generally, citizens have to deposit many types of documents in order to take loans from banks and loans are given to the citizens only after scrutiny of those documents. But you will be surprised to know that there is only one bank in the world, which gives loans to customers without any documents. In this article, we are giving detailed explanation about that bank who gives loan to its clients without any documenting.

List of Approved Stock Exchanges in India

Oct 9, 2017
Stock exchanges are the place where investors buy and sell the shares in the companies. As of now there are 23 SEBI approved stock exchanges in the country. Stock market is managed and regulated by the Securities and Exchange Board of India (SEBI).

Rs of 500 and 1000 Note Ban: Benefits & Drawbacks

Sep 22, 2017
PM Modi announced a decisive war against black money and also corruption by demonetising notes of Rs 500 and Rs 1000 which will be no longer legal. So, let us have a look on the benefits of this scheme, how it will be beneficial and also some drawbacks.

Fiscal Policy of India: Meaning, Objectives and Impacts on the Economy

Sep 12, 2017
Fiscal policy deals with the taxation and expenditure decisions of the government. Some of the major instruments of fiscal policy are as follows: Budget, Taxation, Public Expenditure, public revenue, Public Debt, and Fiscal Deficit in the economy.

Structure of Banking Sector in India

Jul 11, 2017
Reserve Bank of India is the Central Bank of our country. It was established on 1st April 1935 under the RBI Act of 1934. It holds the apex position in the banking structure. RBI performs various developmental and promotional functions. As of now 26 public sector banks in India out of which 21 are Nationalised banks and 5 are State Bank of India and its associate banks. There are total 92 commercial banks in India. Public sector banks hold near about 75% of the total bank deposits in India.

Which Indian states have GDP equal to or more than other countries of the world?

May 18, 2017
At present, the size of Indian economy has grown more than $ 2 trillion and tagged as the highest growing economy in the world. The richest Indian state is Maharashtra, whose State Gross Domestic Product (SGDP) is $ 380 billion which is equal to Norway’s economy. The second richest Indian state is Tamil Nadu whose SGDP is $ 208 billion which is followed by Karnataka (SGDP $ 190 billion).

What are the differences between Commercial Banks and Co-operative banks?

May 11, 2017
As per the website of RBI, there are 31 state Co-operative banks, 370 central Co-operative banks and 81 commercial banks (20 government and 61 private) working in India. Banking regulation act, 1949 is completely applicable to all the commercial banks of India while Co-operative banks are partially obliged to follow this act.

What salary/perks enjoyed by RBI Governor?

Apr 21, 2017
The government has increased their basic salaries by more than twice. Urjit Patel's basic salary has been increased to Rs. 2.5 lakh and Deputy Governor’s salary has been increased to Rs. 2.25 lakh. This change is effective from January 1, 2016. Prior to this increase, the basic salary of the Governor of the Reserve Bank was Rs.90.000 per month.

What are the Benefits of Plastic Notes in the Indian Economy

Apr 14, 2017
In the presence of parallel economy and lesser life of the paper currency notes, the Reserve Bank of India has decided to circulate plastic notes of Rs. 10 denomination in the five cities i.e. Mysore, Kochi, Jaipur, Shimla and Bhubneshwar on trial basis.

Union Budget of India: Definition and different types

Apr 6, 2017
‘Budget’ is a systematic list of items of revenue and expenditure of the government of a defined duration or we can say it’s a plan for the income and expenditure of the government for the present, past and future financial years.

SEBI: Powers and Functions to regulate Security Market in India

Mar 31, 2017
The Securities and Exchange Board of India is the regulatory body for dealing with all matters related to the development and regulation of securities market in India. It was established on 12th of April in 1988. It is headquartered in Mumbai. SEBI was declared a constitutional body in 1992. At present, Ajay Tyagi is the Chairperson of SEBI.

Sources of revenue and expenditure of Government of India

Mar 20, 2017
The Government of India had stated in the budget of 2017-18 that the total income of the government was Rs.21,46,735 cr. while fiscal deficit amounted to Rs. 5,46,532. Government of India receives maximum revenue from Borrowing and other Liabilities (19% of total revenue) while the share of states in taxes and fees (24% of the total expenditure)is the largest item of expenditure.

What are the main functions of Reserve Bank of India

Mar 6, 2017
Reserve Bank of India (RBI) is the supreme monetary authority of India. This organization is responsible for printing of currency notes and managing the supply of money in the Indian economy. RBI works as a custodian of foreign reserve, banker’s bank, banker to the government of India and controller of credit.

Foreign Direct Investment limit in the different Sectors of the Indian Economy

Feb 3, 2017
A Foreign Direct Investment (FDI) is an investment by foreign investors in the foreign based company. Mainly there are two types of FDI, one is Green Field Investment (a fresh company is established in a foreign country) and the other is Portfolio Investment (shares of a foreign company are purchased or ownership acquired in a foreign company).

6 Amazing Questions on Indian Budget You Never Know

Jan 12, 2017
The Union Budget of India, which is known also as the ‘Annual financial statement’ in the Article 112 of the Indian Constitution. The first Union budget of independent India was presented by R. K. Shanmukham Chetty on November 26, 1947. Former Prime Minister Manmohan Singh and former finance minister Yashwant Sinha are the only two leaders who presented the Union Budget of India 5 times consecutively.

5 Reasons How Debit Card can lead you to Fraud Transaction

Nov 11, 2016
As we all know, Fraud cases are increasing day by day via internet banking or we can say it as cyber crime which is done by means of computer or internet. Through this article I am making you aware that while using debit card make sure that you will follow these 5 safe measures to keep your account from getting hacked.

Rs of 500 and 1000 Note Ban: Is this the first time in Indian History?

Nov 9, 2016
PM Modi’s announcement regarding the ban on Rs 500 and 1000 Notes has come as a surprise for all of us. But, this is not the first time that the Indian government has taken such a bold step to tackle the menace of black money. We list down the earlier instance, when the government has demonetized high-value currency.

Devaluation of Indian Rupee: Reasons & History Since 1947

Oct 5, 2016
Devaluation of Indian Rupee taken place 3 times since 1947. At the time of independence, one can buy a dollar with one Indian rupee but today you have to spend 66 rupees to buy a dollar. Devaluation means reduction in the external value of the domestic currency.

List of Finance Ministers of India

Sep 13, 2016
The Minister of Finance (or simply, finance minister) is the head of the Ministry of Finance of the Government of India. The finance minister is responsible for the fiscal policy of the government. The Finance Minister presents the annual Union Budget (article 112) in Parliament. The first finance minister of independent India was R. K. Shanmukham Chetty, who also presented its first Budget.

List of top 15 Private Sector Banks in India

Sep 7, 2016
In banking sector, there are 3 types of banks i.e. Public sector Banks, Private sector Banks and Foreign sector banks. In private sector Banks; the Banks are owned through either an individual or with limited partners and these types of banks are not incorporated. HDFC (Housing and Development Finance Corporation) is the biggest bank of India in terms of market capitalization followed by axis bank and ICICI Bank.

Commodity Exchanges of India

Aug 26, 2016
A commodities exchange is an exchange where various commodities and derivatives products are traded. Most commodity markets across the world trade in agricultural products and contracts based on them. These contracts can include spot prices, forwards, futures and options on futures.

List of Major Financial Institutions in India

Jul 14, 2016
There are so many financial companies established in India to absorb the saving of household sector. Government mobilizes this small saving in the economy through these financial institutions. These major and small institutions play the same role in the economy as the blood in the human body. Some examples of these financial institutions are RBI, SEBI, IDBI, EXIM Bank and Export Credit Guarantee Corporation of India (ECGC).

What is the Intake of Government in the Public Sector Banks of India?

Jul 14, 2016
Speaking at the Indian Banks’ Association’s annual general meeting, Arun Jaitley said that “The government is looking to reduce its stake in State-run banks to 52 per cent to make them more professional and independent.” At present, the government owns over 59 per cent stake in State Bank of India, the country’s largest public sector lender, 81.5 per cent in Central Bank of India, 71.7per cent in IDBI Bank.

Basel III Norms in India: Meaning, Requirement and Impacts on Indian Banking system

Nov 26, 2015
Basel III or Basel 3 released in December, 2010 is the third in the series of Basel Accords. These accords deal with risk management aspects for the banking sector. These Norms to be partially implemented from March 31, 2015 in phases and would be fully implemented as on March 31, 2018.

Components of Indian Financial System

Nov 26, 2015
The financial system enables lenders and borrowers to exchange funds. India has a financial system that is controlled by independent regulators in the sectors of insurance, banking, capital markets and various services sectors.

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