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IBPS SO General Awareness with Special Reference to Banking Syllabus

The General Awareness with Special Reference to Banking syllabus for IBPS SO in full: 4 chapters, 17 topics and 4 sub-topics, every one listed below, plus 50 General Awareness with Special Reference to Banking flashcards with answers.

4Chapters
17Topics
4Sub-topics
50Flashcards

General Awareness with Special Reference to Banking syllabus: all 4 chapters

Expand any chapter to see its topics and sub-topics.

  1. Banking and Financial Awareness

     5 topics
    • RBI: Functions, Monetary Policy and Tools
      • Repo, reverse repo, CRR, SLR, MSF
      • Bank Rate and policy corridor (LAF)
    • Banking Structure and Types of Banks
      • Scheduled / non-scheduled, SFBs, payment banks
      • Cooperative banks and RRBs
    • Negotiable Instruments and Banking Products
    • NPA, Basel Norms and Capital Adequacy
    • Priority Sector Lending and Financial Inclusion

  2. Financial Markets and Regulators

     4 topics
    • Regulatory Bodies (SEBI, IRDAI, PFRDA, NABARD, SIDBI)
    • Money Market and Capital Market Instruments
    • Payment Systems (NEFT, RTGS, IMPS, UPI, NACH)
    • Mutual Funds, Insurance and Pension Schemes

  3. Current Affairs

     4 topics
    • National and International Banking / Economic News
    • Government Schemes and Budget Highlights
    • Appointments, Awards, Summits and Sports
    • Important Days, Books and Obituaries

  4. Static and Economic Awareness

     4 topics
    • Indian Economy and National Income Concepts
    • International Financial Institutions (IMF, World Bank, ADB, BRICS)
    • Headquarters, Taglines and Banking Abbreviations
    • Census, Schemes and Static GK

IBPS SO General Awareness with Special Reference to Banking flashcards — 50 questions with answers

  1. Who acts as the lender of last resort and the banker to the Government of India?

    The Reserve Bank of India (RBI). It also issues currency, manages monetary policy, regulates banks, and is the banker to banks.

  2. In RBI monetary policy, what is the Repo Rate?

    The rate at which the RBI lends short-term funds to commercial banks against government securities. Raising it makes borrowing costlier and curbs inflation.

  3. What is the difference between Repo Rate and Reverse Repo Rate?

    Repo Rate is the rate RBI lends to banks; Reverse Repo Rate is the rate RBI pays banks for parking their surplus funds with it. Reverse Repo is always lower than Repo.

  4. What are CRR and SLR?

    CRR (Cash Reserve Ratio) is the percentage of deposits banks must keep as cash with the RBI (no interest). SLR (Statutory Liquidity Ratio) is the percentage banks must maintain in liquid assets like cash, gold, and approved securities.

  5. Which RBI body decides the policy repo rate, and how many members does it have?

    The Monetary Policy Committee (MPC), a 6-member body (3 from RBI including the Governor, and 3 appointed by the Government). Decisions are by majority; the Governor has a casting vote.

  6. What is the Marginal Standing Facility (MSF)?

    An RBI window through which banks can borrow overnight emergency funds against SLR securities (dipping into the SLR), at a rate typically 0.25% above the repo rate.

  7. What is the Bank Rate?

    The long-term rate at which the RBI lends to banks without collateral; it acts as the penal rate and is usually aligned with the MSF rate.

  8. How are banks classified into scheduled and non-scheduled banks?

    Scheduled banks are listed in the Second Schedule of the RBI Act, 1934 (must have paid-up capital and reserves of at least Rs 5 lakh and satisfy RBI). Non-scheduled banks are not listed in that schedule.

  9. What are Small Finance Banks and Payments Banks?

    Small Finance Banks serve small/underserved customers and can lend (e.g., AU SFB). Payments Banks (e.g., Paytm Payments Bank) can accept deposits up to Rs 2 lakh per customer and offer payments, but cannot lend or issue credit cards.

  10. What are the three main types of negotiable instruments under the Negotiable Instruments Act, 1881?

    Promissory Note, Bill of Exchange, and Cheque.

  11. What is the difference between a bearer cheque and a crossed cheque?

    A bearer cheque can be encashed by whoever holds/presents it at the counter. A crossed cheque (two parallel lines) cannot be cashed over the counter and must be deposited into a bank account.

  12. What is a NPA (Non-Performing Asset) and when is a loan classified as one?

    An NPA is a loan/advance on which principal or interest remains overdue for more than 90 days.

  13. What are the three categories of NPAs based on duration?

    Sub-standard (NPA up to 12 months), Doubtful (NPA for more than 12 months), and Loss assets (uncollectible, identified but not yet written off).

  14. What is the Capital Adequacy Ratio (CAR) / CRAR and how is it calculated?

    CAR = (Tier 1 Capital + Tier 2 Capital) / Risk-Weighted Assets, expressed as a percentage. It measures a bank's capital against its risk exposure.

  15. Under Basel III norms, what is the minimum CRAR required for Indian banks (including buffers)?

    9% minimum CRAR mandated by RBI, plus a Capital Conservation Buffer of 2.5%, taking the effective requirement to 11.5%.

  16. What is the difference between Tier 1 and Tier 2 capital?

    Tier 1 (core capital) includes equity capital and disclosed reserves and absorbs losses while the bank operates. Tier 2 (supplementary capital) includes undisclosed reserves, subordinated debt, and revaluation reserves, absorbing losses at liquidation.

  17. What is Priority Sector Lending (PSL) and what overall target applies to domestic commercial banks?

    PSL directs credit to neglected sectors like agriculture, MSMEs, education, housing, and weaker sections. Domestic commercial banks must lend 40% of Adjusted Net Bank Credit (ANBC) to priority sectors.

  18. Within PSL, what are the sub-targets for agriculture and weaker sections?

    18% of ANBC for agriculture (with a sub-target for small/marginal farmers) and 12% for weaker sections (the micro-enterprise sub-target is 7.5%).

  19. What is Financial Inclusion and name a flagship scheme promoting it?

    Financial Inclusion means providing affordable banking and financial services to all, especially the underserved. Pradhan Mantri Jan Dhan Yojana (PMJDY) is a flagship scheme offering zero-balance accounts.

  20. Which regulator oversees the securities/stock market in India and when was it given statutory status?

    SEBI (Securities and Exchange Board of India), given statutory powers under the SEBI Act, 1992; headquartered in Mumbai.

Show the other 30 General Awareness with Special Reference to Banking flashcards

  1. Which body regulates the insurance sector in India, and where is it headquartered?

    IRDAI (Insurance Regulatory and Development Authority of India), headquartered in Hyderabad.

  2. What does PFRDA regulate?

    PFRDA (Pension Fund Regulatory and Development Authority) regulates the pension sector, including the National Pension System (NPS) and Atal Pension Yojana; headquartered in New Delhi.

  3. What are the primary roles of NABARD and SIDBI?

    NABARD (National Bank for Agriculture and Rural Development) is the apex bank for agricultural and rural credit. SIDBI (Small Industries Development Bank of India) is the apex bank for financing and developing MSMEs; both headquartered in Mumbai (SIDBI: Lucknow).

  4. What distinguishes money market instruments from capital market instruments?

    Money market instruments are short-term (up to 1 year), e.g., Treasury Bills, Commercial Paper, Certificates of Deposit, Call Money. Capital market instruments are long-term (over 1 year), e.g., shares, bonds, and debentures.

  5. What are Treasury Bills (T-Bills) and in what tenures are they issued?

    T-Bills are short-term money-market instruments issued by the Government of India at a discount and redeemed at face value. Tenures: 91-day, 182-day, and 364-day.

  6. What is the difference between Commercial Paper (CP) and a Certificate of Deposit (CD)?

    Commercial Paper is an unsecured promissory note issued by creditworthy corporates to raise short-term funds. A Certificate of Deposit is a negotiable instrument issued by banks/financial institutions against deposits.

  7. Compare NEFT and RTGS in terms of settlement and minimum amount.

    NEFT settles in half-hourly batches with no minimum/maximum limit. RTGS settles transactions individually in real time and has a minimum of Rs 2 lakh with no upper limit. Both are available 24x7.

  8. What is IMPS and what makes it distinct?

    IMPS (Immediate Payment Service), run by NPCI, enables instant 24x7 interbank fund transfers via mobile, internet, or ATM, using MMID or account+IFSC.

  9. What is UPI and who operates it?

    UPI (Unified Payments Interface) is a real-time mobile payment system operated by NPCI (National Payments Corporation of India) that links multiple bank accounts to a single app using a Virtual Payment Address (VPA).

  10. What is NACH used for?

    NACH (National Automated Clearing House), operated by NPCI, handles bulk, repetitive electronic transactions such as salary, dividend, subsidy disbursals (credit) and EMI, SIP, utility bill collections (debit).

  11. What is a mutual fund and what is a Systematic Investment Plan (SIP)?

    A mutual fund pools money from many investors to invest in securities, managed by an Asset Management Company (AMC). A SIP allows investing a fixed amount at regular intervals in a mutual fund scheme.

  12. What is the difference between term (life) insurance and an endowment policy?

    Term insurance provides pure life cover for a fixed period with no maturity/survival benefit (only death benefit). An endowment policy combines insurance with savings, paying a maturity benefit if the policyholder survives the term.

  13. What are Atal Pension Yojana (APY) and the National Pension System (NPS)?

    APY is a government-guaranteed pension scheme for unorganised-sector workers (pension of Rs 1,000-5,000/month). NPS is a voluntary, market-linked defined-contribution retirement scheme regulated by PFRDA.

  14. What is the role of DICGC in the Indian banking system?

    DICGC (Deposit Insurance and Credit Guarantee Corporation), a subsidiary of RBI, insures bank deposits up to Rs 5 lakh per depositor per bank.

  15. What is the SWIFT system used for in international banking?

    SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network banks use to securely transmit information and instructions for cross-border transactions; it is not a fund-transfer system itself.

  16. What is the LIBOR replacement benchmark now widely used in global markets?

    SOFR (Secured Overnight Financing Rate) has largely replaced LIBOR (London Interbank Offered Rate) as the benchmark interest rate, following LIBOR's phase-out.

  17. What is the objective of the Pradhan Mantri Mudra Yojana (PMMY)?

    To provide loans up to Rs 10 lakh to non-corporate, non-farm small/micro enterprises, in three categories: Shishu (up to Rs 50,000), Kishore (Rs 50,000-5 lakh), and Tarun (Rs 5-10 lakh).

  18. What are the social security insurance schemes PMJJBY and PMSBY?

    PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is a life insurance cover of Rs 2 lakh for ages 18-50. PMSBY (Pradhan Mantri Suraksha Bima Yojana) is an accidental death/disability cover of Rs 2 lakh for ages 18-70.

  19. In the Union Budget, what is the difference between Fiscal Deficit and Revenue Deficit?

    Fiscal Deficit = Total Expenditure minus Total Receipts (excluding borrowings); it shows total borrowing needs. Revenue Deficit = Revenue Expenditure minus Revenue Receipts; it shows shortfall in day-to-day operations.

  20. Who chairs the Finance Commission and what is its primary task?

    The Finance Commission, a constitutional body under Article 280 appointed every five years by the President, recommends the distribution of tax revenues between the Centre and States.

  21. What is GDP, and how does it differ from GNP?

    GDP (Gross Domestic Product) is the total value of goods and services produced within a country's borders. GNP (Gross National Product) is GDP plus net factor income earned by residents from abroad.

  22. What is the difference between Nominal GDP and Real GDP?

    Nominal GDP is measured at current market prices. Real GDP is measured at constant (base-year) prices, adjusting for inflation, giving a truer picture of economic growth.

  23. What is National Income, commonly measured as?

    National Income is the Net National Product (NNP) at factor cost = GNP minus depreciation minus indirect taxes plus subsidies. It reflects the total income earned by a nation's residents.

  24. What is the IMF and where is it headquartered?

    The International Monetary Fund (IMF) promotes global monetary cooperation and financial stability and provides loans to member countries facing balance-of-payments problems; headquartered in Washington, D.C.

  25. What is the role of the World Bank and what is its lending arm for poorest countries?

    The World Bank provides loans and grants for development projects; its International Development Association (IDA) gives concessional credit to the poorest nations. Headquartered in Washington, D.C.

  26. Where are the headquarters of the Asian Development Bank (ADB) and the New Development Bank (BRICS Bank)?

    ADB is headquartered in Manila, Philippines. The New Development Bank (NDB), set up by BRICS nations, is headquartered in Shanghai, China.

  27. What is the Special Drawing Right (SDR) of the IMF?

    SDR is an international reserve asset created by the IMF to supplement member countries' official reserves. Its value is based on a basket of five currencies: US Dollar, Euro, Chinese Yuan, Japanese Yen, and British Pound.

  28. Expand the banking abbreviations KYC, NBFC, and CIBIL.

    KYC = Know Your Customer; NBFC = Non-Banking Financial Company; CIBIL = Credit Information Bureau (India) Limited.

  29. What is the structure of an IFSC code used in Indian electronic transfers?

    IFSC (Indian Financial System Code) is an 11-character alphanumeric code: first 4 letters identify the bank, the 5th character is always 0 (reserved), and the last 6 characters identify the branch.

  30. How frequently is the Census of India conducted and which ministry conducts it?

    The Census of India is conducted every 10 years (decennial) by the Office of the Registrar General and Census Commissioner under the Ministry of Home Affairs. The last completed census was in 2011.

IBPS SO General Awareness with Special Reference to Banking FAQ

What is in the IBPS SO General Awareness with Special Reference to Banking syllabus?

IBPS SO General Awareness with Special Reference to Banking is split into 4 chapters: Banking and Financial Awareness, Financial Markets and Regulators, Current Affairs and Static and Economic Awareness. Together they contain 17 topics and 4 sub-topics.

How many chapters are in IBPS SO General Awareness with Special Reference to Banking?

4 chapters, containing 17 topics and 4 sub-topics. The largest chapter is Banking and Financial Awareness, with 5 topics.

Are there flashcards for IBPS SO General Awareness with Special Reference to Banking?

Yes — a 50-card General Awareness with Special Reference to Banking deck, printed in full in the flashcards section of this page and available in the Examius app with spaced repetition. The free plan covers one exam of your choice, including its flashcards; Examius Pro, a one-time purchase, unlocks every other exam and deck.