UPSC CORE · NCERT GEOGRAPHY
RBI · Monetary Policy · Banking 🏦
NCERT-aligned UPSC Core Geography topic from NCERT Class 11/12 + standard reference works (Bipan Chandra, R.S. Sharma, Romila Thapar). Every item is anchored to a real location on India's map — built for boards (CBSE, ICSE, state) and UPSC aspirants.
📚 NCERT TEXTBOOK ALIGNMENT
Class UPSC Geography — NCERT Class 11/12 + standard reference works (Bipan Chandra, R.S. Sharma, Romila Thapar).
22LOCATIONS
147QUESTIONS
UPSC CORENCERT LEVEL
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Key locations covered (22)
- Monetary Policy Committee (MPC) Composition and Function — Pan-India
- Liquidity Adjustment Facility and Corridor — Pan-India
- Repo Rate Trajectory 2022-2026 — Pan-India
- Cash Reserve Ratio and Statutory Liquidity Ratio — Pan-India
- RBI Functions: Regulatory and Developmental — Maharashtra (Mumbai)
- CBDC: e-Rupee and Digital Currency — Pan-India
- External Commercial Borrowings (ECBs) — Pan-India
- Banking Reforms: Narasimham, Nayak, P.J. Nayak — Pan-India
- NBFCs and Scale-Based Regulation — Pan-India
- Recent Major RBI Actions 2024-2025 — Pan-India
- Recent Monetary Policy Stance and Inflation Print — Pan-India
- Bharat Bond ETF and Sovereign Bond Markets — Pan-India
- RBI Surplus Transfer to Government — Pan-India
- Banking Frauds and Vigilance — Pan-India
- Bank Licensing and On-tap Licences — Pan-India
- Differentiated Bank Categories — Pan-India
- Inflation Indexed Bonds — Pan-India
- Bharat Bill Pay and AePS — Pan-India
- Currency Notes Design — Pan-India
- RBI Annual Report and FSR — Pan-India
- BharatQR and NCMC — Pan-India
- Banking Codes and Standards Board — Pan-India
Sample questions (12 of 147)
Under which section of the RBI Act 1934 is MPC constituted?
Section 45ZB (inserted by Finance Act 2016).
How many members does the MPC have?
6 - three from RBI and three external members appointed by the Centre.
Who chairs the MPC?
Governor of RBI.
Who has casting vote in case of tie in MPC?
Governor of RBI.
How often does the MPC meet?
At least 4 times in a year (usually 6 times per year - bi-monthly).
Who is the inflation-targeting agreement signed between?
Government of India and RBI - signed February 2015 (operationalised under amended RBI Act 2016).
What is the inflation target band for FY24-FY26?
4% +/- 2% (i.e. range of 2-6%) - re-notified in March 2021.
Under what circumstances would RBI be deemed to have 'failed' on inflation target?
If inflation breaches the band (above 6% or below 2%) for three consecutive quarters.
To whom must RBI submit a report explaining inflation target failure?
Government of India (the Centre).
Which committee recommended formal inflation targeting and a Monetary Policy Committee in India?
Urjit Patel Committee (2014).
Name the three external MPC members appointed in October 2024.
Ram Singh, Saugata Bhattacharya, Nagesh Kumar (replaced Jayanth Varma, Shashanka Bhide, Ashima Goyal).
Which RBI Deputy Governor is in charge of monetary policy in 2025?
Poonam Gupta (took office Apr 2025 after Michael Patra's term ended Jan 2025).
All 147 questions are available in the interactive map quiz.
About this topic
This topic is part of the NCERT UPSC Core Geography syllabus, specifically the textbook NCERT Class 11/12 + standard reference works (Bipan Chandra, R.S. Sharma, Romila Thapar). Content is cross-referenced against the latest NCERT textbook editions + standard reference works (Bipan Chandra, R.S. Sharma, Romila Thapar, Satish Chandra for history; G.C. Leong, Savindra Singh for geography; the UPSC Civil Services prelims + mains syllabus).
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