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36 questions · page 2 of 2
- Economy & Banking25 Apr 2026
Payments Banks in India were introduced based on the recommendations of which committee?
- A.P.J. Nayak Committee
- B.Nachiket Mor Committee (2014)
- C.Bimal Jalan Committee
- D.Urjit Patel Committee
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Answer: B. Nachiket Mor Committee (2014)
Payments Banks were introduced based on the recommendations of the Nachiket Mor Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (report submitted January 2014). RBI issued payments-bank guidelines in November 2014 and granted in-principle approvals to 11 entities in August 2015.
Read source story → - Economy & Banking25 Apr 2026
India's foreign exchange reserves stood at what level for the week ended 17 April 2026?
- A.$652.31 billion
- B.$700.946 billion
- C.$703.31 billion
- D.$728.494 billion
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Answer: C. $703.31 billion
India's forex reserves rose by $2.36 billion to $703.31 billion for the week ended 17 April 2026, according to RBI data. $700.946 billion was the previous week's level (10 April), and $728.494 billion was the all-time high reached in February 2026.
Read source story → - Economy & Banking25 Apr 2026
RBI's power to cancel a banking licence is provided under which provision of the Banking Regulation Act, 1949?
- A.Section 22
- B.Section 35
- C.Section 36AB
- D.Section 38
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Answer: C. Section 36AB
Section 36AB of the Banking Regulation Act, 1949 (added by amendment) explicitly empowers the RBI to cancel a banking licence where the operations of the bank are detrimental to depositor interests or public interest. Section 22 provides for INITIAL ISSUANCE of banking licences; Section 35 governs INSPECTIONS; Section 38 deals with WINDING-UP PROCEEDINGS in the High Court.
Read source story → - Economy & Banking25 Apr 2026
Which of the following is a key restriction on payments banks in India that distinguishes them from commercial banks?
- A.Cannot accept demand deposits
- B.Cannot offer credit/loans
- C.Cannot issue debit cards
- D.Cannot facilitate digital payments
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Answer: B. Cannot offer credit/loans
Payments banks CANNOT offer credit/loans — this is a key restriction distinguishing them from commercial banks and small finance banks. Payments banks CAN: accept demand deposits up to ₹2 lakh per customer, issue ATM/debit cards, facilitate payments and remittances, distribute non-risk-sharing financial products (mutual funds, insurance, pension).
Read source story → - Economy & Banking25 Apr 2026
For the week ended 17 April 2026, India's Foreign Currency Assets (FCA) — the largest component of forex reserves — stood at:
- A.$417.46 billion
- B.$497.46 billion
- C.$557.46 billion
- D.$617.46 billion
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Answer: C. $557.46 billion
Foreign Currency Assets (FCA) stood at $557.46 billion for the week ended 17 April 2026 — up $1.48 billion week-on-week. FCA is typically about 80% of India's total forex reserves and includes foreign currencies, deposits with foreign central banks and BIS, and foreign government securities (mainly US Treasuries).
Read source story → - Economy & Banking25 Apr 2026
Which country has recently overtaken India as the leading exporter of corn (maize) to Bangladesh?
- A.United States
- B.Argentina
- C.Brazil
- D.Ukraine
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Answer: C. Brazil
Brazil has overtaken India as the leading exporter of corn (maize) to Bangladesh. For years India had held the dominant position thanks to competitive pricing and geographical proximity, but since 2024 rising domestic demand — especially for ethanol production under India's Ethanol Blending Programme — has reduced India's export capacity. Brazil capitalised with large-scale production, efficient supply chains, and consistent supply volumes.
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