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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

Q721.Government SchemesHard

PM VGSY is approved for a period that is co-terminus with the award period of which body?

  1. A.The 8th Central Pay Commission
  2. B.The Sixteenth Finance Commission
  3. C.The Fifteenth Finance Commission
  4. D.NITI Aayog's governing council
Show answer
Correct answer: B. The Sixteenth Finance Commission

The scheme has been sanctioned for the years from 2026-27 to 2030-31, and the Cabinet decision states plainly that this term is co-terminus with that commission's period.

Q723.EconomyHard

The formula used to work out the Dearness Allowance increase rests on the recommendations of which body?

  1. A.The 6th Central Pay Commission
  2. B.The 7th Central Pay Commission
  3. C.The Sixteenth Finance Commission
  4. D.The Reserve Bank of India
Show answer
Correct answer: B. The 7th Central Pay Commission

The Cabinet described the increase as being in accordance with the accepted formula, which is based on that commission's recommendations, so the percentage is arrived at mechanically rather than by negotiation.

Q725.EconomyMedium

From which date does the revised Dearness Allowance rate apply?

  1. A.1 January 2026
  2. B.1 April 2026
  3. C.1 July 2026
  4. D.1 October 2026
Show answer
Correct answer: C. 1 July 2026

The Cabinet approved the release of the additional instalment with effect from that date, which is why the employees and pensioners covered by the order also become entitled to arrears for the months that have already passed between the effective date and the date of the decision.

Q727.Indian EconomyAsked in: CDS · CDS-II 2018, GKHard

The Fourteenth Finance Commission assigned different weights to the following parameters for distribution of tax proceeds to the States :

1. Income distance

2. Population

3. Demographic changes

4. Area

Arrange the aforesaid parameters in descending order in terms of their weights.

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

Income distance had the highest weight, followed by population, area and demographic change. The Fourteenth Finance Commission, chaired by Y.V.

Q728.Indian EconomyAsked in: CDS · CDS-II 2024, GKHard

Which one of the following statements for a firm's equilibrium in Perfect Competition is not correct ?

  1. A.The market price must be greater or equal to average variable cost in the short run.
  2. B.The market price must be equal to marginal cost.
  3. C.The market price must be equal to average cost in the long run.
  4. D.The marginal cost decreases at the equilibrium output.
Show answer
Correct answer: D. The marginal cost decreases at the equilibrium output.

This statement is not correct, because at the equilibrium of a competitive firm marginal cost must be rising. A firm in perfect competition is a price taker, so the price it gets equals its marginal revenue.

Q734.NationalMedium

How much revenue did SECL generate through scrap disposal under Special Campaign 6?

  1. A.About Rs 12.50 crore
  2. B.About Rs 26.17 crore
  3. C.About Rs 46.02 crore
  4. D.About Rs 72.00 crore
Show answer
Correct answer: B. About Rs 26.17 crore

South Eastern Coalfields Limited disposed of four thousand six hundred and two metric tonnes of scrap under Special Campaign 6, well above the target of three thousand three hundred metric tonnes, and that disposal earned the company revenue of roughly this amount.

Q736.EnvironmentMedium

Under which law were the two passengers carrying the reptiles arrested?

  1. A.The Wild Life (Protection) Act, 1972
  2. B.The Customs Act, 1962
  3. C.The Biological Diversity Act, 2002
  4. D.The Environment (Protection) Act, 1986
Show answer
Correct answer: B. The Customs Act, 1962

The reptiles were seized and the two Indian passengers were arrested by the Air Intelligence Unit at Trichy under the provisions of that Act, because the offence was the illegal import of goods, here live wildlife, across a customs frontier.

Q739.EconomyMedium

How much FDI do the EFTA States aim to bring into India under TEPA, and over what period?

  1. A.50 billion dollars over 10 years
  2. B.75 billion dollars over 12 years
  3. C.100 billion dollars over 15 years
  4. D.150 billion dollars over 20 years
Show answer
Correct answer: C. 100 billion dollars over 15 years

That is the investment aim written into the India-EFTA Trade and Economic Partnership Agreement, and it is paired with the facilitation of a million direct jobs in India.

GK Questions for sub-exams