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.
Which lake of Odisha is the largest brackish water lagoon in India?
Chilika, spread along the coast of the Puri, Khordha and Ganjam districts, is the largest brackish water lagoon in India, cut off from the Bay of Bengal by a long sandbar.
Read the full explanation →Odisha came into being as a separate province on which date, observed in the state as Utkal Divas?
Orissa was separated from the Bihar and Orissa Province and made a province in its own right on 1 April 1936, and the day is kept every year as Utkal Divas.
Read the full explanation →The failure of which bank in 1960 hastened the enactment of the Deposit Insurance Act, 1961 in India?
The failure of the Palai Central Bank of Kerala in 1960, coming on top of trouble at other small banks, badly shook public confidence and pushed Parliament into passing the Deposit Insurance Act, 1961, under which cover began on 1 January 1962.
Read the full explanation →Deposits with which one of the following are not covered by DICGC insurance?
Insurance with the Corporation is compulsory for all commercial banks, including the branches of foreign banks working in India, for local area banks and regional rural banks, for payments banks and small finance banks, and for state, central and primary urban co-operative banks.
Read the full explanation →The five lakh rupee deposit insurance cover is reckoned on which basis?
Every account a depositor holds in the same right and the same capacity in one bank is added together, across all its branches, and the five lakh rupee limit is then applied to that total of principal and interest.
Read the full explanation →Under the amendment made to the DICGC Act in 2021, within how many days of a bank being placed under all inclusive directions must the Corporation pay depositors up to the insured limit?
The Deposit Insurance and Credit Guarantee Corporation (Amendment) Act, 2021 created an interim payment so that the depositors of a bank placed under all inclusive directions need not wait for the bank to be wound up.
Read the full explanation →What is the highest premium rate the DICGC Act, 1961 permits the Corporation to charge per annum on every hundred rupees of assessable deposits?
The Act allows the Corporation, with the previous approval of the Reserve Bank of India, to raise the premium only as far as fifteen paise a year for every hundred rupees of assessable deposits, so fifteen paise is the statutory ceiling.
Read the full explanation →With effect from 1 April 2020, what premium does the DICGC charge a bank each year for every hundred rupees of assessable deposits?
With effect from 1 April 2020 the Corporation charges twelve paise a year on every hundred rupees of a bank assessable deposits.
Read the full explanation →Deposit insurance began to operate in India on 1 January of which year?
The Deposit Insurance Corporation, created under the Deposit Insurance Act, 1961, began functioning on 1 January 1962, and that is the date from which bank deposits in India have been insured.
Read the full explanation →Which one of the following is not insured by the DICGC?
Inter-bank deposits are expressly excluded, because deposit insurance exists to protect ordinary depositors and not to insure banks against one another.
Read the full explanation →Who bears the cost of the deposit insurance premium paid to the DICGC?
The whole of the deposit insurance premium is paid by the bank, and a bank is barred from passing the cost on, so the charge never appears in a depositor passbook.
Read the full explanation →In which year did the Deposit Insurance and Credit Guarantee Corporation come into existence by the merger of two earlier corporations?
The Corporation came into being on 15 July 1978, when the Deposit Insurance Corporation was merged with the Credit Guarantee Corporation of India Ltd, and the Deposit Insurance Act, 1961 was renamed the Deposit Insurance and Credit Guarantee Corporation Act, 1961.
Read the full explanation →What is the maximum amount insured for each depositor of a bank by the DICGC?
Every depositor of an insured bank is covered up to five lakh rupees, and that figure takes in the principal and the accrued interest together.
Read the full explanation →The Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of which institution?
The Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of the Reserve Bank of India. It works under the Deposit Insurance and Credit Guarantee Corporation Act, 1961, has its head office in Mumbai, and is chaired by a Deputy Governor of the Reserve Bank.
Read the full explanation →Which port in Gujarat was the first to be developed after independence and was renamed Deendayal Port in 2017?
After partition left the port of Karachi outside India, Kandla in the Gulf of Kutch was developed as the main gateway for the northern and western hinterland, which makes it the first major port developed after independence.
Read the full explanation →Which central scheme, launched in 2015, is aimed at port led development and coastal shipping in India?
The programme covers port modernisation and new port development, port connectivity, port linked industrialisation and coastal community development, and it is run by the Ministry of Ports, Shipping and Waterways.
Read the full explanation →The Airports Authority of India was constituted in which year by merging two earlier authorities?
The Airports Authority of India came into being in that year through the merger of the International Airports Authority of India, which ran the international gateways, with the National Airports Authority, which ran the domestic airfields and the air navigation services.
Read the full explanation →Which major port of India is described as the deepest landlocked port, having both an inner and an outer harbour?
The port in Andhra Pradesh lies in a natural inlet sheltered by the Dolphin's Nose headland, which gives it great depth while keeping it protected, and it is the one Indian major port that works with a separate inner harbour and outer harbour.
Read the full explanation →UDAN, the regional connectivity scheme in civil aviation, stands for which phrase?
The scheme was announced under the National Civil Aviation Policy of 2016 so that unserved and underserved airstrips could be linked to the main network at capped fares, with the gap met through a viability gap funding mechanism.
Read the full explanation →The Kempegowda International Airport serves which Indian city?
The airport is named after Kempegowda, the sixteenth century chieftain regarded as the founder of the city.
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