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IBPS SO General Awareness with Special Reference to Banking Flashcards
50 question-and-answer cards covering General Awareness with Special Reference to Banking as it is examined in IBPS SO. 24 of them are printed below, taken from across the deck — no signup, no paywall on the preview.
24 sample cards from the General Awareness with Special Reference to Banking deck
Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.
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.
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.
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).
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).
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Expand the banking abbreviations KYC, NBFC, and CIBIL.
KYC = Know Your Customer; NBFC = Non-Banking Financial Company; CIBIL = Credit Information Bureau (India) Limited.
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.
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.
What this deck covers
The General Awareness with Special Reference to Banking deck follows the IBPS SO General Awareness with Special Reference to Banking syllabus — 4 chapters and 17 topics — so questions land on material that is genuinely examinable rather than trivia around it. That works out to roughly 12.5 cards per chapter.
Answers are written to be recallable, not just readable — averaging about 190 characters, which is long enough to carry the reasoning and short enough to say out loud.
A deck like this earns its keep on the second and third pass. Read the syllabus first so you know the shape of the subject, then use the cards to find the specific facts that have not stuck.
General Awareness with Special Reference to Banking flashcards FAQ
How many General Awareness with Special Reference to Banking flashcards are in this IBPS SO deck?
50 cards. This page previews 24 of them, sampled evenly across the deck so you can judge the difficulty before installing anything.
Are these IBPS SO flashcards free?
Yes. The preview here is free to read with no signup, and the full 50-card deck is free inside the Examius app.
What do the General Awareness with Special Reference to Banking cards cover?
They follow the IBPS SO General Awareness with Special Reference to Banking syllabus — 4 chapters and 17 topics — so the questions track what is actually examinable.
How should I use these flashcards?
Read the syllabus first so you know the shape of the subject, then drill the deck. Examius schedules each card with spaced repetition, so cards you keep missing come back sooner and ones you know drift further apart.