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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

Q4626.Indian PolityEasy

The Lokpal at the Union level was established under which Act?

  1. A.Central Vigilance Commission Act, 2003
  2. B.Right to Information Act, 2005
  3. C.Lokpal and Lokayuktas Act, 2013
  4. D.Whistle Blowers Protection Act, 2014
Show answer
Correct answer: C. Lokpal and Lokayuktas Act, 2013

The Act created the Lokpal, an anti-corruption ombudsman for the Union, consisting of a Chairperson and members of whom not more than half are judicial members, and it required the States to establish a Lokayukta.

Q4627.Indian PolityHard

Which article of the Constitution provides for a Special Officer for Linguistic Minorities?

  1. A.Article 343
  2. B.Article 344
  3. C.Article 350A
  4. D.Article 350B
Show answer
Correct answer: D. Article 350B

The article, inserted by the 7th Constitutional Amendment Act, 1956, requires the President to appoint a Special Officer for Linguistic Minorities, usually called the Commissioner for Linguistic Minorities, to investigate all matters relating to the safeguards provided for linguistic minorities and to report to the President, who places the report…

Q4628.Indian PolityMedium

Match the body with the Act that created it and choose the pair that is correctly matched.

  1. A.National Green Tribunal and the Environment (Protection) Act, 1986
  2. B.Central Information Commission and the Right to Information Act, 2005
  3. C.National Commission for Women and the Protection of Human Rights Act, 1993
  4. D.Securities and Exchange Board of India and the Companies Act, 1956
Show answer
Correct answer: B. Central Information Commission and the Right to Information Act, 2005

The Central Information Commission was created by the Right to Information Act, 2005, and hears second appeals from the orders of public information officers and first appellate authorities of the Union.

Q4629.Indian PolityHard

A member of the Union Public Service Commission can be removed by the President only after an inquiry held by the Supreme Court. This procedure is laid down in which article?

  1. A.Article 315
  2. B.Article 316
  3. C.Article 317
  4. D.Article 320
Show answer
Correct answer: C. Article 317

It provides that the Chairman or any other member of a Public Service Commission shall be removed from office by order of the President on the ground of misbehaviour only after the Supreme Court, on a reference made by the President, has held an inquiry and reported that the member…

Q4631.Indian PolityMedium

Which statement about NITI Aayog is correct?

  1. A.It is a constitutional body created by Article 282
  2. B.It is a statutory body created by an Act of Parliament in 2015
  3. C.It was created by a resolution of the Union Cabinet in January 2015
  4. D.It was created by a joint resolution of both Houses of Parliament in 2014
Show answer
Correct answer: C. It was created by a resolution of the Union Cabinet in January 2015

NITI Aayog, the National Institution for Transforming India, was created by a resolution of the Union Cabinet dated 1 January 2015, and it therefore has neither constitutional nor statutory standing.

Q4632.Indian PolityHard

The Central Vigilance Commission was given statutory status by which Act?

  1. A.Prevention of Corruption Act, 1988
  2. B.Delhi Special Police Establishment Act, 1946
  3. C.Central Vigilance Commission Act, 2003
  4. D.Lokpal and Lokayuktas Act, 2013
Show answer
Correct answer: C. Central Vigilance Commission Act, 2003

The Commission was first set up in 1964 by a resolution of the Government of India on the recommendation of the Santhanam Committee on Prevention of Corruption, and for nearly four decades it worked as an executive body.

Q4633.Indian PolityMedium

The Goods and Services Tax Council is a constitutional body established under which article?

  1. A.Article 263
  2. B.Article 279A
  3. C.Article 280
  4. D.Article 282
Show answer
Correct answer: B. Article 279A

The article was inserted by the 101st Constitutional Amendment Act, 2016, the amendment that introduced the goods and services tax, and it requires the President to constitute a Council of the Union Finance Minister, the Union Minister of State in charge of revenue or finance, and the Minister in charge…

Q4634.Indian PolityMedium

Article 338A of the Constitution, which provides for the National Commission for Scheduled Tribes, was inserted by which amendment?

  1. A.73rd Constitutional Amendment Act, 1992
  2. B.86th Constitutional Amendment Act, 2002
  3. C.89th Constitutional Amendment Act, 2003
  4. D.102nd Constitutional Amendment Act, 2018
Show answer
Correct answer: C. 89th Constitutional Amendment Act, 2003

Until that amendment a single National Commission for Scheduled Castes and Scheduled Tribes worked under Article 338.

Q4635.Indian PolityMedium

Which of the following is not a constitutional body?

  1. A.Finance Commission
  2. B.National Human Rights Commission
  3. C.Comptroller and Auditor General of India
  4. D.National Commission for Scheduled Tribes
Show answer
Correct answer: B. National Human Rights Commission

It is a statutory body created by the Protection of Human Rights Act, 1993, and no article of the Constitution mentions it, so Parliament could alter or repeal its parent Act by an ordinary majority.

Q4636.Indian PolityEasy

Under which article of the Constitution is the Election Commission of India established?

  1. A.Article 280
  2. B.Article 315
  3. C.Article 324
  4. D.Article 338
Show answer
Correct answer: C. Article 324

Article 324 vests in the Election Commission the superintendence, direction and control of the preparation of electoral rolls and of the conduct of all elections to Parliament, to the legislature of every State, and to the offices of President and Vice-President of India.

Q4637.Indian EconomyEasy

Amartya Sen, whose work shaped the idea of human development, is associated with which approach, and in which year did he receive the Nobel Prize in Economics?

  1. A.Capability approach, 1998
  2. B.Basic needs approach, 1993
  3. C.Capability approach, 2004
  4. D.Welfare approach, 1998
Show answer
Correct answer: A. Capability approach, 1998

Sen argued that development should be judged by what people are actually able to be and to do, their capabilities, rather than by the goods they own or the income they earn, and this is the reasoning behind the HDI's choice of health, education and a decent standard of living.

Q4638.Indian EconomyMedium

The Gender Inequality Index, introduced in the Human Development Report of 2010, measures the loss in achievement due to gender gaps in which three areas?

  1. A.Health, education and income
  2. B.Reproductive health, empowerment and the labour market
  3. C.Literacy, nutrition and employment
  4. D.Education, political representation and property ownership
Show answer
Correct answer: B. Reproductive health, empowerment and the labour market

The Gender Inequality Index replaced the Gender Development Index and the Gender Empowerment Measure of 1995 and shows the human development cost of inequality between women and men in those three dimensions.

Q4639.Indian EconomyMedium

The Gini coefficient is derived from which curve?

  1. A.Phillips curve
  2. B.Lorenz curve
  3. C.Laffer curve
  4. D.Kuznets curve
Show answer
Correct answer: B. Lorenz curve

The further the curve sags away from the straight diagonal of perfect equality, the greater the inequality, and the Gini coefficient measures exactly that gap on a scale from 0, perfect equality, to 1, perfect inequality.

Q4640.Indian EconomyHard

The Physical Quality of Life Index, developed by Morris David Morris, was built from which set of indicators?

  1. A.Life expectancy at age one, infant mortality rate and basic literacy
  2. B.Life expectancy at birth, mean years of schooling and income per head
  3. C.Infant mortality rate, literacy and gross domestic product per head
  4. D.Nutrition, sanitation and housing
Show answer
Correct answer: A. Life expectancy at age one, infant mortality rate and basic literacy

Morris gave equal weight to three indicators only, life expectancy at age one, the infant mortality rate and basic literacy, and the striking feature of his index is that income appears nowhere in it; he argued that income is a means and that the results of development should be measured…

GK Questions for sub-exams