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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

Q3262.Indian PolityMedium

Which of the following can a Governor not do under Article 161 of the Constitution?

  1. A.Remit a sentence of imprisonment
  2. B.Grant a pardon in a case of a death sentence
  3. C.Grant a respite on the ground of pregnancy
  4. D.Commute a sentence of rigorous imprisonment
Show answer
Correct answer: B. Grant a pardon in a case of a death sentence

Article 161 confines the Governor's power to offences against laws on matters to which the state's executive power extends, and it does not extend to pardoning a death sentence, which under Article 72 belongs to the President alone; a Governor also cannot touch a sentence passed by a court martial.

Q3265.Indian PolityHard

The pocket veto in India is associated with which bill and which President?

  1. A.The Hindu Code Bill and Dr Rajendra Prasad
  2. B.The Indian Post Office (Amendment) Bill, 1986, and Zail Singh
  3. C.The PEPSU Appropriation Bill, 1954, and Dr Rajendra Prasad
  4. D.The Parliament Members Salary Bill, 1991, and R. Venkataraman
Show answer
Correct answer: B. The Indian Post Office (Amendment) Bill, 1986, and Zail Singh

The bill, which would have allowed the interception of postal articles, was neither assented to nor returned by President Zail Singh, who simply kept it pending, and it lapsed; this is the standing Indian illustration of a pocket veto.

Q3266.Indian PolityMedium

Which of the following kinds of veto is not available to the President of India?

  1. A.Absolute veto
  2. B.Qualified veto
  3. C.Suspensive veto
  4. D.Pocket veto
Show answer
Correct answer: B. Qualified veto

A qualified veto is one that the legislature can override only by a special higher majority, such as two-thirds; it belongs to the American President and not to the Indian one, because when the Indian President returns a bill a simple majority in both Houses is enough to compel assent.

Q3267.Indian PolityHard

What is the maximum period for which an ordinance issued by the President can remain in force without being approved by Parliament?

  1. A.Six weeks
  2. B.Three months and six weeks
  3. C.Six months and six weeks
  4. D.One year
Show answer
Correct answer: C. Six months and six weeks

The arithmetic is worth learning. Article 85 requires that six months shall not intervene between the last sitting of one session and the first sitting of the next, so the longest an ordinance can run before Parliament reassembles is six months; Article 123 then allows it six weeks more from…

Q3269.Indian PolityEasy

The power of the President of India to promulgate ordinances is contained in which Article of the Constitution?

  1. A.Article 72
  2. B.Article 111
  3. C.Article 123
  4. D.Article 213
Show answer
Correct answer: C. Article 123

It empowers the President to promulgate an ordinance when Parliament, or either House of it, is not in session and the President is satisfied that circumstances exist which make immediate action necessary; such an ordinance has the same force and effect as an Act of Parliament.

Q3270.Indian EconomyHard

Which of the following is the oldest preferential trading arrangement to which India is a party?

  1. A.Asia-Pacific Trade Agreement, earlier the Bangkok Agreement
  2. B.South Asian Free Trade Area
  3. C.India-Sri Lanka Free Trade Agreement
  4. D.India-Singapore Comprehensive Economic Cooperation Agreement
Show answer
Correct answer: A. Asia-Pacific Trade Agreement, earlier the Bangkok Agreement

Concluded in 1975 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific, it was renamed the Asia-Pacific Trade Agreement in 2005 and its members are India, Bangladesh, China, South Korea, Sri Lanka, Laos and Mongolia.

Q3272.Indian EconomyHard

The main purpose of rules of origin in a free trade agreement is to

  1. A.fix a common external tariff for all members
  2. B.ensure that concessions go only to goods genuinely produced in a partner country
  3. C.decide the currency in which trade will be settled
  4. D.set a ceiling on the value of services traded
Show answer
Correct answer: B. ensure that concessions go only to goods genuinely produced in a partner country

Rules of origin test whether a product really originates with the partner, usually by requiring a change in its tariff classification there together with a minimum share of value added in that country.

Q3273.Indian EconomyHard

Under the India-EFTA Trade and Economic Partnership Agreement, the EFTA states have committed to raise foreign direct investment in India by how much, and over what period?

  1. A.50 billion US dollars over 10 years
  2. B.100 billion US dollars over 15 years
  3. C.100 billion US dollars over 25 years
  4. D.200 billion US dollars over 20 years
Show answer
Correct answer: B. 100 billion US dollars over 15 years

Article 7.1 of TEPA commits the EFTA states to increase foreign direct investment in India by 50 billion US dollars in the first ten years and a further 50 billion in the following five years, a total of 100 billion over fifteen years, with the stated aim of generating one…