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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

Q2761.Indian EconomyMedium

The Trade Unions Act, 1926, the Industrial Employment (Standing Orders) Act, 1946 and the Industrial Disputes Act, 1947 have been subsumed into which code?

  1. A.The Code on Wages, 2019
  2. B.The Industrial Relations Code, 2020
  3. C.The Code on Social Security, 2020
  4. D.The Occupational Safety, Health and Working Conditions Code, 2020
Show answer
Correct answer: B. The Industrial Relations Code, 2020

These three Acts dealt with the registration of unions, the conditions of service to be published as standing orders, and the machinery for disputes, lay-off, retrenchment and closure, and all three subjects are now in one code.

Q2763.Indian EconomyMedium

Under the Public Sector Enterprise Policy announced with the Budget of 2021, which of the following is treated as a strategic sector?

  1. A.Hotels and tourism
  2. B.Banking, insurance and financial services
  3. C.Fertiliser and chemicals trading
  4. D.Consumer goods manufacturing
Show answer
Correct answer: B. Banking, insurance and financial services

The policy of 2021 named four strategic sectors: atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; and banking, insurance and financial services.

Q2765.Indian EconomyHard

The Disinvestment Commission set up in 1996 was headed by

  1. A.C. Rangarajan
  2. B.G. V. Ramakrishna
  3. C.Bimal Jalan
  4. D.Arjun Sengupta
Show answer
Correct answer: B. G. V. Ramakrishna

The Disinvestment Commission was constituted in 1996 as an advisory body to examine enterprises referred to it and to recommend the extent, method and timing of disinvestment in each case, and it was chaired by G. V. Ramakrishna, formerly the chairman of SEBI.

Q2767.Indian EconomyHard

Which was the first central public sector enterprise sold through a strategic sale in India?

  1. A.BALCO
  2. B.Modern Food Industries (India) Limited
  3. C.Hindustan Zinc
  4. D.Videsh Sanchar Nigam Limited
Show answer
Correct answer: B. Modern Food Industries (India) Limited

In 1999 and 2000 the government sold seventy-four per cent of this bread-making company to Hindustan Lever along with management control, and it is counted as India's first strategic sale, that is, the first real privatisation of a central enterprise.

Q2768.Indian EconomyEasy

Strategic disinvestment of a public sector enterprise means

  1. A.the sale of a minority stake while the government keeps management control
  2. B.the sale of a substantial stake along with the transfer of management control to the buyer
  3. C.the closure of a loss-making enterprise and the sale of its land
  4. D.the issue of fresh shares by the enterprise to its own employees
Show answer
Correct answer: B. the sale of a substantial stake along with the transfer of management control to the buyer

In official usage strategic disinvestment, or strategic sale, means that the government sells a substantial block of shares and hands over management control to the buyer, so the enterprise passes out of the public sector.

Q2769.Indian EconomyMedium

Which department of the Government of India handles disinvestment of public sector enterprises today?

  1. A.The Department of Public Enterprises
  2. B.The Department of Investment and Public Asset Management
  3. C.The Department of Economic Affairs
  4. D.The Department for Promotion of Industry and Internal Trade
Show answer
Correct answer: B. The Department of Investment and Public Asset Management

It was created as the Department of Disinvestment in 1999, was a separate Ministry of Disinvestment from 2001 to 2004, returned as a department and was given its present name in April 2016.

Q2771.Indian EconomyMedium

Which policy document is known as the Economic Constitution of India?

  1. A.The Industrial Policy Resolution, 1948
  2. B.The Industrial Policy Resolution, 1956
  3. C.The New Industrial Policy, 1991
  4. D.The Public Sector Enterprise Policy, 2021
Show answer
Correct answer: B. The Industrial Policy Resolution, 1956

It is called the Economic Constitution of India because it settled for more than three decades which industries belonged to the state and which to private enterprise, through its Schedules A, B and C, and because it gave the Second Five Year Plan its heavy industry direction under the Mahalanobis…

Q2772.Indian EconomyMedium

Which law gave the Government of India the power of industrial licensing over entry, capacity and location of industries?

  1. A.The Companies Act, 1956
  2. B.The Industries (Development and Regulation) Act, 1951
  3. C.The MRTP Act, 1969
  4. D.The Capital Issues (Control) Act, 1947
Show answer
Correct answer: B. The Industries (Development and Regulation) Act, 1951

Under this Act a company needed a licence to start a new undertaking, to expand capacity substantially, to make a new article or to change its location, and the schedule to the Act listed the industries covered.

Q2773.Indian EconomyAsked in: SSC CGL · 12 Dec 2022, Shift 4Medium

In the Industrial Policy Resolution of 1948, which of the following was not the monopoly of the Central Government?

  1. A.Iron and Steel
  2. B.Atomic energy
  3. C.Railway
  4. D.Arms and ammunition
Show answer
Correct answer: A. Iron and Steel

The Industrial Policy Resolution of 1948 made only three fields an exclusive monopoly of the central government: arms and ammunition, the production and control of atomic energy, and the ownership and management of railway transport.

Q2775.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2019, GS Paper IEasy

The Global Competitiveness Report is published by the

  1. A.International Monetary Fund
  2. B.United Nations Conference on Trade and Development
  3. C.World Economic Forum
  4. D.World Bank
Show answer
Correct answer: C. World Economic Forum

The Global Competitiveness Report is the World Economic Forum's assessment of how well countries' institutions, policies and markets support productivity and growth.

Q2776.Banking & Financial AwarenessAsked in: UPSC Civil Services · CSE Prelims 2021, GS Paper IHard

With reference to 'Urban Cooperative Banks' in India, consider the following statements :

1. They are supervised and regulated by local boards set up by the State Governments.

2. They can issue equity shares and preference shares.

3. They were brought under the purview of the Banking Regulation Act, 1949 through an Amendment in 1966.

Which of the statements given above is/are correct?

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

Urban Cooperative Banks are regulated by the RBI, not by local boards, and they may raise capital through equity and preference shares.