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Banking GK Questions 2026

The static part of banking awareness is mostly banking and the economy; history and geography get a smaller share than in SSC exams. The test names say so: General/Economy/Banking Awareness including RBI circulars in IBPS PO, General Awareness/ Economy/ Banking Knowledge in SBI PO, and General/Financial Awareness in the clerk exams. Questions keep returning to the RBI and its functions, monetary policy tools such as the repo rate, CRR and SLR, types of banks and accounts, NPAs, KYC, priority sector lending, payment systems such as UPI, NEFT and RTGS, regulators such as SEBI, IRDAI and PFRDA, development institutions such as NABARD and SIDBI, the Budget and the Economic Survey. RBI Grade B and NABARD Grade A go further, with full papers on Economic and Social Issues, and NABARD on Agriculture and Rural Development: agronomy, irrigation, animal husbandry, climate change and rural development schemes. Some static GK still appears: headquarters and heads of banks, currencies and capitals, and important days. This page gathers GK24's topic-wise GK notes for banking exams, in English and Hindi, in short facts and tables. Read one topic at a sitting, then take its topic quiz to see what you remember.

Banking GK Questions with Answers

Q2121.Indian PolityMedium

The oath of office to the Governor of a State is administered by which of the following?

  1. A.President of India
  2. B.Chief Justice of India
  3. C.Chief Justice of the High Court of that State
  4. D.Chief Minister of the State
Show answer
Correct answer: C. Chief Justice of the High Court of that State

Article 159 requires every Governor, before entering upon his office, to make an oath in the presence of the Chief Justice of the High Court having jurisdiction in relation to that State, or, in his absence, the senior-most judge of that court available.

Q2122.Indian PolityEasy

Who administers the oath of office to the President of India?

  1. A.Vice-President of India
  2. B.Speaker of the Lok Sabha
  3. C.Chief Justice of India
  4. D.Outgoing President
Show answer
Correct answer: C. Chief Justice of India

Article 60 lays down the form of the President's oath and requires that it be made in the presence of the Chief Justice of India, or, in his absence, the senior-most judge of the Supreme Court available.

Q2123.Indian PolityEasy

The President of India addresses his resignation to which of the following?

  1. A.Chief Justice of India
  2. B.Vice-President of India
  3. C.Speaker of the Lok Sabha
  4. D.Prime Minister of India
Show answer
Correct answer: B. Vice-President of India

Article 56(1)(a) provides that the President may, by writing under his hand addressed to the Vice-President, resign his office, and the Vice-President must communicate the resignation forthwith to the Speaker of the Lok Sabha.

Q2124.Indian PolityAsked in: Delhi · 10 Oct 2021, Shift 1Easy

Which Article of the Indian Constitution is related to the term of office of the Governor?

  1. A.156
  2. B.161
  3. C.165
  4. D.152
Show answer
Correct answer: A. 156

Article 156 deals with the term of office of the Governor: clause (1) says that the Governor holds office during the pleasure of the President, clause (2) allows him to resign by writing addressed to the President, and clause (3) fixes his normal term at five years from the date…

Q2126.Indian EconomyHard

Which section of the Income Tax Act provides a tax deduction of profits to eligible startups for three consecutive years out of the first ten years?

  1. A.Section 80-IAC
  2. B.Section 80C
  3. C.Section 54
  4. D.Section 115BAA
Show answer
Correct answer: A. Section 80-IAC

It allows an eligible startup, recognised for the purpose and incorporated within the prescribed window, a deduction of one hundred per cent of the profits and gains from its business for three consecutive assessment years out of its first ten years, subject to conditions, and it must be claimed with…

Q2127.Indian EconomyHard

The first Production Linked Incentive scheme, notified in 2020, was for which sector?

  1. A.Speciality steel
  2. B.Textile products
  3. C.Large-scale electronics manufacturing
  4. D.Food processing
Show answer
Correct answer: C. Large-scale electronics manufacturing

The first PLI scheme was notified in 2020 for large-scale electronics manufacturing, with mobile phones and specified electronic components as its targets, and it was followed by schemes for pharmaceutical ingredients and medical devices in the same year.

Q2128.Indian EconomyMedium

The incentive under the Production Linked Incentive scheme is calculated on

  1. A.the capital invested in a new plant
  2. B.the incremental sales of goods manufactured in India over a base year
  3. C.the export duty paid by the manufacturer
  4. D.the number of workers employed in the factory
Show answer
Correct answer: B. the incremental sales of goods manufactured in India over a base year

This output-linked design is what distinguishes the PLI scheme from older industrial subsidies: a selected manufacturer receives an incentive, usually a percentage of the additional sales of eligible goods made in India, for a fixed number of years, so the payment follows production and sales actually achieved.

Q2129.Indian EconomyMedium

The Fund of Funds for Startups, set up with a corpus of Rs 10,000 crore, is operated by which institution?

  1. A.Reserve Bank of India
  2. B.NABARD
  3. C.Small Industries Development Bank of India
  4. D.National Housing Bank
Show answer
Correct answer: C. Small Industries Development Bank of India

The Fund of Funds for Startups was created in 2016 with a corpus of ten thousand crore rupees and is operated by SIDBI, which does not invest directly in startups but puts money into alternative investment funds registered with the Securities and Exchange Board of India, and those funds in…

Q2130.Indian EconomyHard

According to the definition used for recognition under Startup India, an entity may be treated as a startup for a period of up to

  1. A.Five years from incorporation
  2. B.Seven years from incorporation
  3. C.Ten years from incorporation
  4. D.Fifteen years from incorporation
Show answer
Correct answer: C. Ten years from incorporation

Under the definition notified for recognition by DPIIT, an entity qualifies as a startup for up to ten years from the date of its incorporation or registration, provided its turnover has not exceeded one hundred crore rupees in any financial year, it works towards innovation, development or improvement of products…

Q2131.Indian EconomyMedium

The Startup India Action Plan was launched on 16 January 2016. That date is now observed every year as

  1. A.National Entrepreneurship Day
  2. B.National Startup Day
  3. C.National MSME Day
  4. D.National Industry Day
Show answer
Correct answer: B. National Startup Day

The government declared that 16 January, the day on which the Startup India Action Plan was released in 2016, would be celebrated as National Startup Day, and the National Startup Awards are associated with the same programme.

Q2132.Indian EconomyMedium

Under the Make in India programme, the share of manufacturing in India's gross domestic product was targeted to be raised to

  1. A.15 per cent
  2. B.20 per cent
  3. C.25 per cent
  4. D.35 per cent
Show answer
Correct answer: C. 25 per cent

The target declared for Make in India was to raise the share of manufacturing in gross domestic product to twenty-five per cent along with the creation of a large number of jobs; the deadline, first set for 2022, was later extended.

Q2133.Indian EconomyMedium

Make in India and Startup India are both implemented by which department?

  1. A.Department of Economic Affairs
  2. B.Department for Promotion of Industry and Internal Trade
  3. C.Department of Revenue
  4. D.Department of Financial Services
Show answer
Correct answer: B. Department for Promotion of Industry and Internal Trade

The correct answer is B, the Department for Promotion of Industry and Internal Trade, known as DPIIT, which works under the Ministry of Commerce and Industry and is the nodal department for both programmes; it also recognises startups and maintains the national single window system.

Q2135.Indian EconomyAsked in: CDS · CDS-I 2021, GKMedium

Exchange rates state the value of one currency in terms of other currencies. Which one of the following statements with respect to the exchange rate of currency is correct ?

  1. A.Floating exchange rates are rates in which the Governments interfere by buying or selling their currencies.
  2. B.Fixed exchange rates are rates set by Government decisions and maintained by Government actions.
  3. C.Under the Bretton Woods System, the exchange rates are floated in terms of rise or fall in price of gold.
  4. D.Under the classical gold standard, the exchange rates are fixed in terms of price of dollar.
Show answer
Correct answer: B. Fixed exchange rates are rates set by Government decisions and maintained by Government actions.

Under a fixed exchange rate, the government or central bank decides the rate and keeps it there by buying and selling currency.

Q2136.Indian EconomyAsked in: CDS · CDS-II 2023, GKHard

Which of the following action(s) by the Government would lead to contraction of money supply in the economy? 1. Purchase of Treasury Bills by the central bank from public 2. Sale of Treasury Bills by the central bank to public 3. Sale of foreign exchange by the central bank 4. Purchase of foreign exchange by the central bank Select the correct answer using the code given below:

  1. A.1 and 4 only
  2. B.1 and 3 only
  3. C.2 and 3 only
  4. D.2 only
Show answer
Correct answer: C. 2 and 3 only

In both actions the central bank takes rupees from the public in exchange for an asset, so money in circulation falls.

Q2137.Static GKAsked in: CDS · CDS-I 2019, GKEasy

Paul Allen, who died in October 2018, was the co-founder of

  1. A.Oracle
  2. B.IBM
  3. C.Microsoft
  4. D.SAP
Show answer
Correct answer: C. Microsoft

Paul Allen founded Microsoft with his school friend Bill Gates in 1975. Allen and Gates started the company in Albuquerque, New Mexico, to write software for the early personal computer Altair 8800, and the name came from "microcomputer software".

Q2139.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2020, GS Paper IMedium

If you withdraw ₹1,00,000 in cash from your Demand Deposit Account at your bank, the immediate effect on aggregate money supply in the economy will be

  1. A.to reduce it by ₹1,00,000
  2. B.to increase it by ₹1,00,000
  3. C.to increase it by more than ₹1,00,000
  4. D.to leave it unchanged
Show answer
Correct answer: D. to leave it unchanged

Withdrawing cash only changes the form in which the money is held; the total stays the same.

Q2140.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2024, GS Paper IMedium

With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements : 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered as CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct ?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: A. 1 only

CSR spending must benefit society, not the company or its own staff, and the law does set a minimum amount to be spent.

GK Questions for sub-exams