A recall list of durable economy facts: institutions, headquarters, abbreviations and money facts. For the mechanisms and the macro toolkit, use ncert indian economy digest and the economy module. Verify any year-sensitive figure (rates, GDP rank, scheme numbers) against the latest Economic Survey or RBI data.
- The Indian rupee is issued and managed by the Reserve Bank of India (RBI), established in 1935 and nationalised in 1949, with its headquarters in Mumbai. The RBI is the central bank, the banker to the government, the sole issuer of currency (except the one-rupee note and coins, issued by the Ministry of Finance), and the regulator of banks.
- The rupee symbol was adopted in 2010. Decimal coinage (100 paise to a rupee) was introduced in 1957.
- The RBI's monetary policy is set by the six-member Monetary Policy Committee; the repo rate is its main policy rate; CRR (cash reserve ratio) and SLR (statutory liquidity ratio) are reserve requirements. The inflation target is 4 percent with a 2 to 6 percent band (verify the latest framework).
- The State Bank of India is India's largest commercial bank, formed in 1955 from the Imperial Bank.
- Bank nationalisation: 14 major banks were nationalised in 1969, and 6 more in 1980.
- The apex institutions: NABARD (rural finance, 1982), SIDBI (small-industry finance), EXIM Bank (export-import). The capital market regulator is SEBI (the Securities and Exchange Board of India, statutory from 1992, headquartered in Mumbai). The insurance regulator is IRDAI.
- India's two main stock exchanges: the Bombay Stock Exchange (BSE, Asia's oldest, with the Sensex index) and the National Stock Exchange (NSE, with the Nifty index).
- GDP (gross domestic product): output produced within the country. GNP (gross national product): GDP plus net factor income from abroad. Per-capita income: national income divided by population.
- Fiscal deficit: the gap between total expenditure and total receipts excluding borrowings. Inflation: a sustained rise in the general price level, measured by the CPI (consumer price index) and WPI (wholesale price index).
- Direct taxes (income tax, corporate tax) are paid by the person on whom they fall; indirect taxes (the Goods and Services Tax, introduced on 1 July 2017) are collected through goods and services. The 101st Constitutional Amendment introduced GST.
- The Finance Commission (Article 280) recommends the sharing of taxes between the Centre and the States. NITI Aayog replaced the Planning Commission in 2015 as a policy think tank.
- International Monetary Fund (IMF): Washington DC; promotes monetary stability and lends to countries in balance-of-payments trouble (it aided India in 1991).
- World Bank: Washington DC; lends for development.
- World Trade Organization (WTO): Geneva; governs world trade rules; India a founding member from 1995.
- Asian Development Bank (ADB): Manila. Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (the BRICS bank): headquartered in Beijing and Shanghai respectively.
- OPEC (the oil cartel): Vienna. The World Economic Forum: Davos.
- The Economic Survey (Ministry of Finance) precedes the Union Budget. The Human Development Index is published by the UNDP. The Global Hunger Index, the World Happiness Report, the Ease of Doing Business assessments and the Global Innovation Index are widely cited; verify India's latest rank in each, as these change yearly.
Economy questions in CAPF cluster on institutions, abbreviations and headquarters (recognition) rather than analysis. The security overlap is real: the RBI and the financial system are critical infrastructure (protecting currency presses, mints and bank vaults touches the CISF mandate), and economic offences, money laundering and terror financing connect economy to internal security and to agencies such as the Enforcement Directorate and the Financial Intelligence Unit. The economic dimension of unrest in backward regions is a recurring essay theme, developed in poverty.
- The Reserve Bank of India, the country's central bank, is headquartered in which city? (Answer: Mumbai.) Authored practice, not a verbatim PYQ.
- The Goods and Services Tax was introduced in India by which Constitutional Amendment, effective 1 July 2017? (Answer: the 101st Amendment.) Authored practice, not a verbatim PYQ.