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GK24

IBPS GK Questions 2026

Static GK in IBPS exams means banking awareness first. The awareness tests of PO, Clerk and RRB Mains name banking, economy, financial and digital awareness, and the questions that return every year are about the RBI and its functions, the monetary policy tools (repo, SDF, MSF, CRR, SLR), types of banks and accounts, NPAs, Basel norms, priority sector lending, payment systems such as UPI, NEFT, RTGS and IMPS, deposit insurance, financial inclusion schemes, and the regulators SEBI, IRDAI and PFRDA and institutions such as NABARD and SIDBI. Headquarters and taglines of banks, capitals and currencies, national parks, dams and important days appear too, though with a smaller share than in SSC. This page holds GK24's topic-wise GK notes for banking exams, written as short facts and tables so that a topic can be revised in one sitting, with the terms and abbreviations that IBPS papers use. Read a topic, then solve its previous-year questions and quiz on this site to check what you retained, and come back to the notes for the facts you missed.

IBPS GK Questions with Answers

Q2321.Indian PolityEasy

National Voters' Day is observed in India on which date, marking the foundation of the Election Commission of India?

  1. A.26 January
  2. B.25 January
  3. C.15 January
  4. D.1 January
Show answer
Correct answer: B. 25 January

The Election Commission of India was constituted on 25 January 1950, a day before the Constitution came into force, and the day has been observed as National Voters' Day since 2011 to enrol young citizens who turn eighteen and to hand them the elector photo identity card.

Q2322.Indian PolityMedium

Electronic voting machines were used for the first time in India in 1982 in an assembly constituency of which state?

  1. A.Kerala
  2. B.Karnataka
  3. C.Rajasthan
  4. D.Goa
Show answer
Correct answer: A. Kerala

The machine was used for the first time in 1982 at the Paravur assembly constituency in Kerala, in a by-election and only in a part of the polling stations; the experiment was challenged for want of a statutory basis, Parliament then amended the law in 1989 to permit the machine…

Q2323.Indian PolityHard

Which committee recommended partial state funding of elections in kind to recognised political parties?

  1. A.Tarkunde Committee
  2. B.Dinesh Goswami Committee
  3. C.Indrajit Gupta Committee
  4. D.Vohra Committee
Show answer
Correct answer: C. Indrajit Gupta Committee

This committee reported in 1998 on state funding of elections and recommended that funding be partial, be given in kind rather than as cash, and be confined to recognised national and state parties, with the caution that the state of public finances allowed only a limited beginning.

Q2324.Indian PolityMedium

The None of the Above (NOTA) option was provided on the ballot following the Supreme Court judgment in which case?

  1. A.Kihoto Hollohan versus Zachillhu
  2. B.People's Union for Civil Liberties versus Union of India
  3. C.Sadiq Ali versus Election Commission of India
  4. D.Lily Thomas versus Union of India
Show answer
Correct answer: B. People's Union for Civil Liberties versus Union of India

In this judgment of 2013 the Supreme Court held that the right to reject every candidate is part of the freedom of expression and of the secrecy of the ballot, and it directed the Election Commission to provide a None of the Above button; the Commission used it from the…

Q2325.Indian PolityHard

Reserved election symbols are allotted to recognised political parties under an Order of which year?

  1. A.1951
  2. B.1961
  3. C.1968
  4. D.1989
Show answer
Correct answer: C. 1968

The Election Symbols (Reservation and Allotment) Order, 1968 was issued by the Election Commission under Article 324 and the Conduct of Elections Rules, and it governs the recognition of national and state parties, the reservation of symbols for them, the list of free symbols for other candidates, and disputes between…

Q2326.Indian PolityMedium

Under which section of the Representation of the People Act, 1951 is a political party registered with the Election Commission of India?

  1. A.Section 29A
  2. B.Section 33A
  3. C.Section 123
  4. D.Section 8
Show answer
Correct answer: A. Section 29A

Section 29A of the Representation of the People Act, 1951 is the provision under which an association or body of individual citizens applies to the Election Commission for registration as a political party, and the application must carry a specific undertaking of true faith and allegiance to the Constitution, to…

Q2327.Indian PolityEasy

The anti-defection law is contained in which Schedule of the Constitution of India?

  1. A.Ninth Schedule
  2. B.Tenth Schedule
  3. C.Eleventh Schedule
  4. D.Twelfth Schedule
Show answer
Correct answer: B. Tenth Schedule

The Tenth Schedule was added by the Fifty-second Amendment in 1985 and it disqualifies a member of Parliament or of a state legislature who voluntarily gives up the membership of the party on whose ticket the seat was won, or who votes or abstains against the party direction; the Speaker…

Q2328.Indian PolityMedium

The voting age in India was reduced from twenty-one years to eighteen years by which Constitutional Amendment?

  1. A.Forty-fourth Amendment
  2. B.Fifty-second Amendment
  3. C.Sixty-first Amendment
  4. D.Seventy-third Amendment
Show answer
Correct answer: C. Sixty-first Amendment

The Constitution (Sixty-first Amendment) Act, 1988 amended Article 326 and lowered the qualifying age for a voter from twenty-one to eighteen years, and it took effect in March 1989, so the general election of 1989 was the first in which eighteen-year-olds voted.

Q2329.Indian PolityAsked in: SSC GD Constable · 6 March 2019, Shift 1Easy

The Elephant is a symbol of which Indian political party?

  1. A.National Congress Party
  2. B.Communist Party of India
  3. C.Bahujan Samaj Party
  4. D.Rashtriya Janata Dal
Show answer
Correct answer: C. Bahujan Samaj Party

The elephant is the reserved symbol of the Bahujan Samaj Party, founded by Kanshi Ram in 1984; because the elephant is also used by another party in Assam and Sikkim, the Election Commission allots it to the Bahujan Samaj Party elsewhere, a detail that shows how reserved symbols work under…

Q2330.Indian PolityEasy

Which Article of the Constitution vests the superintendence, direction and control of elections in the Election Commission of India?

  1. A.Article 324
  2. B.Article 326
  3. C.Article 329
  4. D.Article 330
Show answer
Correct answer: A. Article 324

Article 324 places the superintendence, direction and control of the preparation of electoral rolls and the conduct of all elections to Parliament, to the state legislatures and to the offices of President and Vice-President in the Election Commission of India, and this is the Article the Commission relies on when…

Q2331.Indian EconomyHard

Decimal coinage, under which the rupee was divided into one hundred paise, was introduced in India in which year?

  1. A.1947
  2. B.1950
  3. C.1957
  4. D.1964
Show answer
Correct answer: C. 1957

Decimal coinage came into force on 1 April 1957 under the Indian Coinage Amendment Act, and the rupee, which had earlier been divided into sixteen annas, each of four pice or twelve pies, was divided into one hundred paise; the new coin was called the naya paisa until 1964, when…

Q2332.Indian EconomyEasy

Whose signature appears on Indian banknotes of denominations above one rupee?

  1. A.The Finance Secretary
  2. B.The Governor of the Reserve Bank of India
  3. C.The Union Finance Minister
  4. D.The President of India
Show answer
Correct answer: B. The Governor of the Reserve Bank of India

Every banknote above one rupee is issued by the Reserve Bank under Section 22 of its Act and carries the promise to pay the bearer, signed by the Governor, which is why these notes are called promissory notes of the Bank.

Q2333.Indian EconomyMedium

The Reserve Bank withdrew the two thousand rupee note from circulation in May 2023. Which statement about that note is correct?

  1. A.It ceased to be legal tender at once
  2. B.It continues to be legal tender
  3. C.It was never legal tender
  4. D.It was replaced by a five thousand rupee note
Show answer
Correct answer: B. It continues to be legal tender

On 19 May 2023 the Reserve Bank announced the withdrawal of the two thousand rupee note from circulation under its Clean Note Policy and asked banks to stop issuing it, while making it clear that the note was not being demonetised and would remain legal tender; holders were given a…

Q2334.Indian EconomyEasy

On which date were the five hundred and one thousand rupee notes declared to cease being legal tender in India?

  1. A.8 November 2016
  2. B.19 May 2023
  3. C.1 April 2017
  4. D.16 January 1978
Show answer
Correct answer: A. 8 November 2016

The notes of five hundred and one thousand rupees in the Mahatma Gandhi series ceased to be legal tender from the midnight of 8 November 2016, the stated purposes being action against unaccounted money, counterfeit currency and the financing of terrorism; a new five hundred rupee note and a two…

Q2335.Indian EconomyMedium

The demonetisation of high denomination notes in January 1978 took place when who was the Prime Minister of India?

  1. A.Indira Gandhi
  2. B.Morarji Desai
  3. C.Charan Singh
  4. D.Lal Bahadur Shastri
Show answer
Correct answer: B. Morarji Desai

The High Denomination Bank Notes (Demonetisation) Act was passed in January 1978, when the Janata Party government led by Morarji Desai was in office, and it withdrew the notes of one thousand, five thousand and ten thousand rupees that had been reintroduced in 1954.

Q2336.Indian EconomyEasy

The Indian rupee symbol, adopted in 2010, was designed by whom?

  1. A.D. Udaya Kumar
  2. B.Nandan Nilekani
  3. C.Pingali Venkayya
  4. D.Raghuram Rajan
Show answer
Correct answer: A. D. Udaya Kumar

The rupee symbol was adopted by the Union Cabinet on 15 July 2010 after a public competition, and the winning design by D. Udaya Kumar, then a research scholar at the Indian Institute of Technology Bombay, joins the Devanagari letter ra with the Roman capital R and carries two parallel…

Q2337.Indian EconomyHard

The banknote presses at Mysuru and Salboni are run by Bharatiya Reserve Bank Note Mudran Private Limited, a subsidiary of which institution?

  1. A.Reserve Bank of India
  2. B.State Bank of India
  3. C.Ministry of Finance
  4. D.Security Printing and Minting Corporation of India
Show answer
Correct answer: A. Reserve Bank of India

Bharatiya Reserve Bank Note Mudran Private Limited was set up in 1995 as a wholly owned subsidiary of the Reserve Bank and runs the two banknote presses at Mysuru in Karnataka and Salboni in West Bengal.

Q2339.Indian EconomyHard

Since which year has the note issue of the Reserve Bank of India been governed by the Minimum Reserve System?

  1. A.1935
  2. B.1949
  3. C.1956
  4. D.1969
Show answer
Correct answer: C. 1956

An amendment of the Reserve Bank of India Act in 1956 replaced the proportional reserve system with the Minimum Reserve System, under which the Bank must hold assets worth two hundred crore rupees against the note issue, of which gold must be not less than one hundred fifteen crore rupees…