Skip to content
GK24
Prime

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

Q5561.Banking & Financial AwarenessMedium

Under the Negotiable Instruments Act, 1881, how many days of grace are allowed while computing the maturity of a bill or a promissory note payable after date?

  1. A.Two days
  2. B.Three days
  3. C.Five days
  4. D.Seven days
Show answer
Correct answer: B. Three days

Section 22 of the Act provides that the maturity of a promissory note or bill of exchange payable after a stated period is the day on which the period ends, and that three days of grace are added in computing that date.

Q5562.Banking & Financial AwarenessHard

When a cheque is crossed with the words 'not negotiable', what is the effect under the Negotiable Instruments Act, 1881?

  1. A.The cheque cannot be transferred at all
  2. B.The transferee gets no better title than the transferor had
  3. C.The cheque can be paid in cash over the counter
  4. D.The cheque becomes payable only after three months
Show answer
Correct answer: B. The transferee gets no better title than the transferor had

Section 130 provides that a person taking a cheque crossed 'not negotiable' shall not have, and shall not be capable of giving, a better title than the person from whom they took it had.

Q5563.Banking & Financial AwarenessEasy

How many parties are there to a bill of exchange?

  1. A.Two
  2. B.Three
  3. C.Four
  4. D.Five
Show answer
Correct answer: B. Three

A bill of exchange, defined in Section 5 of the Negotiable Instruments Act, 1881, is an unconditional order in writing by which the drawer directs another person, the drawee, to pay a certain sum to or to the order of the payee.

Q5564.Banking & Financial AwarenessMedium

For how long is a cheque valid from the date written on it, under the present direction of the Reserve Bank of India?

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

The Reserve Bank of India directed that cheques, drafts, pay orders and banker's cheques would be payable for three months from the date of the instrument, with effect from 1 April 2012, cutting the earlier period of six months.

Q5565.Banking & Financial AwarenessMedium

Two parallel transverse lines drawn across the face of a cheque, without the name of any bank, amount to which kind of crossing?

  1. A.General crossing
  2. B.Special crossing
  3. C.Restrictive crossing
  4. D.Not negotiable crossing
Show answer
Correct answer: A. General crossing

Section 123 of the Negotiable Instruments Act, 1881 provides that where a cheque bears across its face two parallel transverse lines, with or without words such as 'and company', that addition is a general crossing.

Q5568.Banking & Financial AwarenessAsked in: Rajasthan · 2 Aug 2015Medium

The payment of a negotiable instrument becomes due

  1. A.at maturity
  2. B.after maturity
  3. C.before maturity
  4. D.on third day of maturity
Show answer
Correct answer: A. at maturity

Section 22 of the Negotiable Instruments Act, 1881 says that the maturity of a promissory note or bill of exchange payable otherwise than on demand is the date on which it falls due, and the three days of grace are already counted in arriving at that date.

Q5570.Banking & Financial AwarenessAsked in: Rajasthan · 2 Aug 2015Easy

A cheque returned by bank marked NSF means that

  1. A.Bank cannot verify your identity
  2. B.There are not sufficient funds in your account
  3. C.Cheque has been forged
  4. D.Cheque cannot be cashed being illegal
Show answer
Correct answer: B. There are not sufficient funds in your account

NSF stands for not sufficient funds, and a bank writes it on the return memo when the balance in the drawer's account is less than the amount of the cheque.