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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

Q7222.Awards & HonoursMedium

Which of these is NOT a category of the Tenzing Norgay National Adventure Awards?

  1. A.Land Adventure
  2. B.Water Adventure
  3. C.Air Adventure
  4. D.Polar Adventure
Show answer
Correct answer: D. Polar Adventure

The award has exactly four categories and that is not one of them. Three of the four are defined by where the feat takes place, namely Land Adventure, Water Adventure and Air Adventure, and the fourth is Lifetime Achievement, which recognises a career rather than a single exploit.

Q7228.Banking & FinanceMedium

Who is the Chairperson of IFSCA, as named in the release?

  1. A.K. Rajaraman
  2. B.Shaktikanta Das
  3. C.Tuhin Kanta Pandey
  4. D.Mia Oka
Show answer
Correct answer: A. K. Rajaraman

He is quoted in the release saying that the rapid scale-up of banking activity at GIFT-IFSC shows the depth and growing international orientation of India's International Financial Services Centre, and that the centre is serving as an effective bridge between global pools of capital and India's financing needs.

Q7230.Banking & FinanceEasy

Under which law was the International Financial Services Centres Authority established?

  1. A.The SEBI Act, 1992
  2. B.The IFSCA Act, 2019
  3. C.The Banking Regulation Act, 1949
  4. D.The FEMA, 1999
Show answer
Correct answer: B. The IFSCA Act, 2019

The release describes IFSCA as the unified regulatory authority set up by the Government of India under an Act of Parliament for the development and regulation of financial products, financial services and financial institutions in India's International Financial Services Centres.

Q7231.Banking & FinanceMedium

How much had IFSC Banking Units at GIFT City sanctioned under the RBI's FCNR(B) swap facility as on 31 August 2026?

  1. A.USD 28.60 billion
  2. B.USD 37.26 billion
  3. C.USD 54.02 billion
  4. D.USD 62.40 billion
Show answer
Correct answer: C. USD 54.02 billion

That is the figure twenty IFSC Banking Units had sanctioned under the Reserve Bank's special swap facility for FCNR(B) deposits as on 31 August 2026, and about USD 52.82 billion of it had already been disbursed.

Q7232.EconomyMedium

Which reform did JCR credit with strengthening the asset quality of India's banking sector?

  1. A.The Insolvency and Bankruptcy Code
  2. B.The Companies Act
  3. C.The Competition Act
  4. D.The Foreign Trade Policy
Show answer
Correct answer: A. The Insolvency and Bankruptcy Code

JCR pointed to three things behind the better asset quality of Indian banks: the establishment of this Code, the capital the Government infused into banks, and stronger supervision by the Reserve Bank of India.

Q7236.EconomyHard

Why did the mining and quarrying sector show real GVA growth of -2.4 per cent but nominal GVA growth of 22.3 per cent?

  1. A.Because mining output rose sharply in volume terms
  2. B.Because mineral prices, especially crude petroleum and natural gas, rose steeply
  3. C.Because the sector was moved out of the GDP series
  4. D.Because coal production was excluded from the estimates
Show answer
Correct answer: B. Because mineral prices, especially crude petroleum and natural gas, rose steeply

Constant-price estimates for mining are built from the Index of Industrial Production, which grew -3.8 per cent in April, -1.4 per cent in May and 1.6 per cent in June, broadly matching real GVA growth of -2.4 per cent.

Q7238.EconomyMedium

Under double deflation, which two items are deflated separately to arrive at real Gross Value Added?

  1. A.Output and intermediate consumption
  2. B.Exports and imports
  3. C.Wages and profits
  4. D.Government spending and private consumption
Show answer
Correct answer: A. Output and intermediate consumption

Double deflation is a production-side technique: gross output is deflated with one price index and intermediate consumption with another, and real Gross Value Added is what remains after subtracting the second from the first.