How to prepare GK for banking exams : Part-1

Dear Aspirants,

Every aptitude based exam – PO, Clerk, SSC etc has GK as an essential section. If we take the example of IBPS-PO, 40 questions will be from GK. And don’t forget there is sectional cut-off in all banking exams.

Most of you think that syllabus of GK is infinite and you may not score well inspite of your best efforts.

But this is a BIG MYTH, nothing else. Don't worry, GK is very well manageable like any other section of exam. 

Notification of IBPS-PO mentions: General Awareness with special reference to banking.

In the next two articles, I would suggest you how to prepare well for GK. First article is dedicated to economy based GK, second article is based on other static GK and current affairs.

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Most of you are sincere, you want to prepare GK but feeling lost, where to start, where to end, true? 

Based on my experience, I am suggesting you some topics. Search out these topics on Google and try to find out the answers.

I am deliberately not providing you the answers. You will learn best only when you search out the things yourself and discuss in your group.

Prepare at least these many questions then we may go one step ahead.


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History of RBI:

Under which Act RBI was set up?

When did RBI start operation?

When RBI was nationalized? 1949

Who is Governor of RBI? Previous Governor? Raghuram Rajan


How many Deputy Governors in RBI? Their names?

1. Urjit Patel

2. H. R. Khan

3. R. Gandhi

4. S. S. Mundra


What does RBI do? Main work.

Definition and Current rate of:

Bank Rate: 9%

Repo Rate: 8%

Reverse Repo Rate: 7%

SLR: 22%

MSF: 9%

CRR: 4%


Inflation? WPI? CPI?

How monetary policy rates (bank rate, repo rate, reverse repo rate etc) impact inflation and money flow in the market?


GDP? PPP (Purchasing Power Parity)?

Budget Terminology:

1. Planned Expenditure

2. Unplanned Expenditure

3. Primary Deficit

4. Fiscal Deficit

5. Revenue Deficit

6. Effective Revenue Deficit


New initiatives taken by RBI & Govt in last one year:


White label ATM concept? Need? Name of companies who got license for setting up White Label ATM?

1. Tata Communications Payment Solutions 

2. Muthoot Finance

3. Prizm Payment Services

4. Vakrangee Ltd

The primary objective of permitting non-banks to operate White Label ATMs is to enhance the spread of ATMs in semi-urban and rural areas (mainly in tier III to VI areas), where bank-owned ATM penetration was not growing.



New Bank Licenses: Organisations which got license for setting up banks? Bandhan & IDFC, get to know brief details about these companies e.g. founder, CEO etc.


CTS System: Check Truncation System, when it was implemented in India? Benefits? Features?


Plastic currency: RBI is experimenting with plastic currency, instead of paper currency, in 5 cities. Know name of those 5 cities.

Jaipur, Shimla, Bhubaneshwar, Mysore and Cochin

Polymer notes have relatively longer life compared to the prevailing paper banknotes and may help in checking counterfeiting.


Bhartiya Mahila Bank:

Chairman and Managing Director: Usha Ananthasubramanian

Head office: New Delhi

First branch: Mumbai

Initial capital: 1000 Crore

BMB is formed with a vision of economic empowerment for womenWhile the Bank focuses on the entire pyramid of Indian women, special attention is given to economically neglected, deprived, discriminated, underbanked, unbanked, rural and urban women to ensure inclusive and sustainable growth. 



RuPay: Recently launched new payment network system, purpose, which bank implemented it first


Rating agencies in India – name and full form e.g. ICRA etc


What does the organisation CIBIL do? Full form and purpose.

CIBIL: Credit Information Bureau (India) Limited

CIBIL collects and maintains records of an individual‘s payments pertaining to loans and credit cards. These records are submitted to CIBIL by banks and other lenders, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and credit scores which are provided to lenders in order to help evaluate and approve loan applications.


Basel Norms: what these are, when Basel-III guidelines were issued, when India is planning to implement it


Difference between

1. Credit Card and Debit Card

2. Saving account and Current Account

3. Secured loans and Unsecured loans


What is a Demat account?

KYC (Know your Customer) Norms

What is financial inclusion?

What is no frills account?

Concept of Business Correspondent to increase financial inclusion?

Lead Banking Scheme?

What is Primary sector lending?

Banking Ombudsman work?

FDI? FII? Full form? 

Limits of FDI in various sectors, specially the sectors in which limits are changed recently.


Chairman of 14th Finance Commission? What does Finance Commission do?

14th Finance Commssion Chairman: Y. V. Reddy

13th Finance Commssion Chairman: Vijay Kelkar


Name of CAG? and its work?


Role of regulating agencies like- SEBI, IRDA, PFRDA, TRAI - Full form and name of their head?


FICCI, ASSOCHAM, NASSCOM - Full form of these organisations and CEO/Chairman?


Concept of Inflation Indexed Bonds?


Full forms of terms like CBS, NPA, CASA, MICR, IFSC, RTGS? Check Economic Terms abbreviation here.


Purpose of committees:

1. Nachiket Mor Committee

2. Urjit Patel Committee

3. M. B. Shah committee


Concept of poverty line?


And the most important thing - Newspaper. Make it a habit to read newspaper daily to keep you updated what is happening around you.

Practice various multiple choice questions here.

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To get a discussion platform of serious aspirants, I would suggest you to register here.

Once you register, you will get a confirmation mail. 

After confirming the mail, login on the forum using the following link:

http://www.takshilaonline.com/forum/login.php

and start sharing and discussing. 

Feel free to discuss in the comments section of this article also.

Happy Learning!

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For conceptual knowledge of Economics, you may refer following book. For current affairs based economics, you should rely on internet and prepare your own notes.

Some appreciation please!

Click here for Part-2





  Posted on Saturday, May 2nd, 2015 at 6:30 AM under   Banking-IBPS