Skip to content
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

Q3341.EnvironmentEasy

In which country was the Pre-COP31 meeting held, at which India called for an ambitious and balanced outcome at COP31?

  1. A.Fiji
  2. B.Turkiye
  3. C.Brazil
  4. D.Azerbaijan
Show answer
Correct answer: A. Fiji

The Pre-COP31 meeting was convened in Nadi, Fiji, and it was there that Union Minister for Environment, Forest and Climate Change Bhupender Yadav addressed the Plenary Discussion on Political Landing Zones and Outcomes and asked the Parties for greater flexibility, pragmatism and mutual respect.

Q3346.Science & TechnologyMedium

The GMPCS services licensed in India, as described in the government's statement, are based on which kind of satellite orbit?

  1. A.Geostationary orbit only
  2. B.Non-geosynchronous satellite orbit
  3. C.Lunar transfer orbit
  4. D.Geosynchronous transfer orbit
Show answer
Correct answer: B. Non-geosynchronous satellite orbit

The Ministry of Communications said the telecom licences for Global Mobile Personal Communication by Satellite services were granted for satellite communications based on non-geosynchronous satellite orbit.

Q3347.Science & TechnologyMedium

Under the licence terms described by the government, what must a satellite communication licensee in India do before it can seek assignment of spectrum?

  1. A.List its shares on a recognised stock exchange
  2. B.Demonstrate compliance with the security conditions of its licence
  3. C.Launch its own satellite from Indian soil
  4. D.Enrol a minimum of ten lakh subscribers
Show answer
Correct answer: B. Demonstrate compliance with the security conditions of its licence

The Ministry of Communications explained that every satellite communication licensee is required under the terms and conditions of its licence to show that it meets the security conditions, the purpose being to ensure that the services provided satisfy security requirements and keep all users and their data safe.

Q3348.Science & TechnologyEasy

How many companies have been granted telecom licences for Global Mobile Personal Communication by Satellite (GMPCS) services in India?

  1. A.One
  2. B.Two
  3. C.Three
  4. D.Six
Show answer
Correct answer: C. Three

The Ministry of Communications stated that telecom licences have been granted to three Global Mobile Personal Communication by Satellite operators whose services rest on non-geosynchronous satellite orbits, and that all three are at broadly the same regulatory stage because the security assessment of each is still in progress.

Q3349.Banking & Financial AwarenessEasy

NABARD, the apex institution for rural and agricultural credit, was set up in which year?

  1. A.1975
  2. B.1982
  3. C.1990
  4. D.1999
Show answer
Correct answer: B. 1982

The National Bank for Agriculture and Rural Development began work on 12 July 1982 under an Act of 1981, on the recommendation of the Sivaraman Committee, taking over the agricultural credit functions of the Reserve Bank and the refinance business of the Agricultural Refinance and Development Corporation; it has its…

Q3350.Banking & Financial AwarenessEasy

Which note in Indian currency is issued by the Government of India and not by the Reserve Bank of India?

  1. A.Two rupee note
  2. B.Five rupee note
  3. C.One rupee note
  4. D.Ten rupee note
Show answer
Correct answer: C. One rupee note

It is issued by the Government of India under the Coinage Act and carries the signature of the Finance Secretary rather than of the Governor of the Reserve Bank; all coins are likewise issued by the Government, while the Reserve Bank only distributes them.

Q3351.Banking & Financial AwarenessEasy

Deposit insurance for bank depositors in India is provided by which institution?

  1. A.DICGC
  2. B.LIC
  3. C.IRDAI
  4. D.SIDBI
Show answer
Correct answer: A. DICGC

The Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of the Reserve Bank of India and insures deposits in commercial banks, local area banks, regional rural banks, small finance banks, payments banks and cooperative banks; the cover was raised to five lakh rupees per depositor per bank…

Q3352.Banking & Financial AwarenessHard

Which of the following is NOT a regulator of any financial sector in India?

  1. A.IBBI
  2. B.NPCI
  3. C.PFRDA
  4. D.SEBI
Show answer
Correct answer: B. NPCI

The National Payments Corporation of India was set up in 2008 by the Reserve Bank of India and the Indian Banks Association as a not-for-profit company under the companies law, and it operates the retail payment systems of the country, among them the Unified Payments Interface, RuPay, IMPS, NACH, AePS…

Q3353.Banking & Financial AwarenessMedium

Who is the chairperson of the Financial Stability and Development Council?

  1. A.Governor of the Reserve Bank of India
  2. B.Union Finance Minister
  3. C.Chairperson of SEBI
  4. D.Prime Minister of India
Show answer
Correct answer: B. Union Finance Minister

The Financial Stability and Development Council was set up in 2010 by an executive order of the Government, following a recommendation of the Raghuram Rajan Committee on financial sector reforms, and it is chaired by the Union Finance Minister with the heads of the regulators, the Finance Secretary and senior…

Q3354.Banking & Financial AwarenessHard

The Forward Markets Commission, the earlier regulator of commodity derivatives in India, was merged into which body in 2015?

  1. A.RBI
  2. B.SEBI
  3. C.IRDAI
  4. D.NABARD
Show answer
Correct answer: B. SEBI

The Forward Markets Commission had regulated forward and commodity derivative trading since 1953 under the Forward Contracts (Regulation) Act 1952 and worked under the Ministry of Finance in its last years; it was merged into the Securities and Exchange Board of India on 28 September 2015, the first merger of…

Q3355.Banking & Financial AwarenessHard

Appeals against the orders of SEBI lie to which forum?

  1. A.National Company Law Tribunal
  2. B.Securities Appellate Tribunal
  3. C.Debt Recovery Tribunal
  4. D.High Court of Bombay
Show answer
Correct answer: B. Securities Appellate Tribunal

The Tribunal was set up under the SEBI Act and sits at Mumbai; since the Finance Act 2017 it also hears appeals against orders of IRDAI and of PFRDA, so one tribunal now serves three regulators.

Q3356.Banking & Financial AwarenessMedium

The Pension Fund Regulatory and Development Authority became a statutory body under an Act of which year?

  1. A.2003
  2. B.2008
  3. C.2013
  4. D.2016
Show answer
Correct answer: C. 2013

PFRDA was first created in 2003 by a resolution of the Government as an interim authority to oversee the new defined contribution pension arrangement, and it ran the National Pension System for a decade without a statute; the Pension Fund Regulatory and Development Authority Act 2013 gave it statutory standing.

Q3357.Banking & Financial AwarenessMedium

In which year did SEBI receive statutory powers?

  1. A.1988
  2. B.1992
  3. C.1995
  4. D.2002
Show answer
Correct answer: B. 1992

The Securities and Exchange Board of India was first constituted in April 1988 as a non-statutory body with advisory functions, and it received statutory powers through the Securities and Exchange Board of India Act 1992, passed in the year the securities scam made a strong market regulator unavoidable.

Q3359.Banking & Financial AwarenessMedium

The Reserve Bank of India was established on the recommendation of which commission?

  1. A.Narasimham Committee
  2. B.Hilton Young Commission
  3. C.Chakravarty Committee
  4. D.Sivaraman Committee
Show answer
Correct answer: B. Hilton Young Commission

Formally the Royal Commission on Indian Currency and Finance, it reported in 1926 and recommended a central bank separate from the Imperial Bank of India; the recommendation led to the Reserve Bank of India Act 1934, and the Bank began work on 1 April 1935 with its central office at…

Q3360.Banking & Financial AwarenessEasy

Which body regulates the insurance sector in India?

  1. A.SEBI
  2. B.IRDAI
  3. C.PFRDA
  4. D.RBI
Show answer
Correct answer: B. IRDAI

The Insurance Regulatory and Development Authority of India is the statutory regulator of insurance, created under the IRDA Act 1999 after the Malhotra Committee recommended opening the sector to private and foreign capital; it licenses life, general, health and reinsurance companies and registers agents, brokers and surveyors, and its headquarters…