IE & IFS Practice Questions 2026

Indian Economy & Indian Financial System

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About This Practice Test

Comprehensive practice questions covering the entire IE & IFS syllabus — from Indian economic architecture and RBI monetary policy to financial markets, SEBI regulations, and digital banking. Every question includes AI-generated explanations with specific RBI circular references.

Exam Pattern & Marking Scheme

DifficultyQuestionsMarks EachTotal Marks
Easy500.525
Medium25125
Hard25250
Total100—100
⏱ Duration: 2 hours✅ Pass: 50 marks❌ No negative marking

Complete Syllabus Covered

Module A — Indian Economic Architecture
Indian Economy overviewGDP and National IncomeEconomic planningAgriculture sectorIndustrial sectorService sectorInflation and price indicesFiscal policyUnion BudgetInternational tradeEconomic reforms
Module B — Economic Concepts Related to Banking
Money supply and monetary policyRBI functions and roleCredit creationInterest ratesForeign exchangeBalance of paymentsCapital account convertibility
Module C — Indian Financial Architecture
Banking Regulation Act 1949RBI Act 1934SEBIIRDAIPFRDAFinancial marketsMoney market instrumentsCapital marketDebt marketForex marketNABARDSIDBI
Module D — Financial Products and Services
Retail banking productsCorporate bankingPriority sector lendingFinancial inclusionDigital bankingPayment systemsNEFT RTGS IMPS UPIInsurance productsMutual fundsPension fundsDerivativesCredit rating agencies

Sample Questions

Q1. Which of the following is NOT a function of the Reserve Bank of India under Section 21 of the RBI Act 1934?

A. Banker to the Government
B. Issuer of currency notes
C. Regulator of stock exchanges✓
D. Lender of last resort

Explanation: SEBI regulates stock exchanges, not RBI. RBI's functions under the RBI Act include being banker to the government (Section 21), issuing currency (Section 22), and acting as lender of last resort.

Q2. The current CRR (Cash Reserve Ratio) maintained by scheduled commercial banks with RBI is:

A. 3%
B. 4%
C. 4.5%✓
D. 5%

Explanation: As per RBI's latest monetary policy circular, CRR stands at 4.5% of NDTL (Net Demand and Time Liabilities). This is a frequently tested question — always check the latest RBI policy rates.

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What's Included

✓698+ practice questions across all 4 modules
✓AI explanations citing RBI Master Circulars
✓Mock test mode with real JAIIB exam weightage
✓Topic-wise performance tracking
✓Adaptive difficulty based on your performance
✓Updated for 2026 syllabus and latest RBI circulars
✓Unlimited practice attempts
✓Mobile-friendly interface

Frequently Asked Questions

How many questions are available for IE & IFS?

Currently 698+ questions covering all 4 modules. New questions are added regularly based on latest RBI circulars and exam patterns.

Are the questions updated for the 2026 exam?

Yes. Questions are aligned with the revised IIBF syllabus and include topics from recent RBI policy changes, Union Budget 2025-26, and latest financial regulations.

Do I get explanations for every question?

Yes. Every question has an AI-generated explanation that cites specific RBI Master Circulars, IIBF textbook chapters, and relevant Acts with section numbers.

Is there a mock test mode?

Yes. The mock test simulates the real JAIIB exam: 100 questions, 2-hour timer, with proper difficulty distribution (50 easy, 25 medium, 25 hard).

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