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.
Who heads a Delimitation Commission in India?
The correct answer is B, a serving or retired judge of the Supreme Court, who is appointed chairperson of the Commission.
Read the full explanation →Which amendment extended the freeze on the allocation of Lok Sabha seats among the states until the first census taken after the year 2026?
The 42nd Amendment had frozen the allocation on the 1971 census only until the census after 2000; as that date approached, the 84th Amendment pushed the freeze forward to the first census taken after 2026, so that states which had controlled population growth would not lose seats.
Read the full explanation →The Constitution (One Hundred and Sixth Amendment) Act, 2023 reserves one-third of the seats for women in which of the following?
The amendment inserted Article 330A for the Lok Sabha and Article 332A for the state assemblies, and amended Article 239AA so that the reservation also covers the Delhi assembly.
Read the full explanation →Which Article of the Constitution provides for the readjustment of the allocation of Lok Sabha seats and the division of states into territorial constituencies after every census?
Article 82 says that upon the completion of each census the allocation of seats in the Lok Sabha to the states and the division of each state into territorial constituencies shall be readjusted by such authority and in such manner as Parliament may by law determine.
Read the full explanation →The recommendations of the Mandal Commission were implemented in 1990 by the government of which Prime Minister?
The Mandal Commission, formally the Second Backward Classes Commission, had been appointed in 1979 under B. P. Mandal and submitted its report in 1980, recommending twenty-seven per cent reservation of central government posts for the Other Backward Classes.
Read the full explanation →The Anti-Defection Law was added to the Constitution as the Tenth Schedule by which amendment?
It inserted the Tenth Schedule and amended Articles 101, 102, 190 and 191 so that a member of Parliament or of a state legislature who voluntarily gives up the membership of the party on whose ticket the member was elected, or votes against the party whip, may be disqualified, the…
Read the full explanation →Operation Blue Star, carried out in June 1984, was conducted at which place?
The army action of June 1984 was ordered to remove armed militants who had fortified the Harmandir Sahib complex during the militant phase of the Punjab movement.
Read the full explanation →Who was the first non-Congress Prime Minister of India?
His government passed the 44th Amendment of 1978, which undid much of the 42nd Amendment, and appointed the Mandal Commission in 1979.
Read the full explanation →Which Constitutional Amendment of the Emergency period is known as the Mini Constitution?
It added the words socialist, secular and integrity to the Preamble, inserted the Fundamental Duties as Part IVA and Article 51A, added subjects such as education, forests and weights and measures to the Concurrent List, extended the normal life of the Lok Sabha and the assemblies to six years, and…
Read the full explanation →The national Emergency of 1975 was proclaimed under Article 352 on which ground?
The proclamation of 25 June 1975 was issued under Article 352 on the ground of internal disturbance, an expression so wide that it became the main criticism of the Emergency, which lasted until 21 March 1977.
Read the full explanation →What was the code name of India's first nuclear test, conducted at Pokhran on 18 May 1974?
India carried out its first underground nuclear explosion at Pokhran in the Thar desert of Rajasthan on 18 May 1974, which happened to be Buddha Purnima, and the government described it as a peaceful nuclear explosion.
Read the full explanation →The Shimla Agreement of 2 July 1972 was signed between Indira Gandhi and which leader of Pakistan?
After the war of December 1971 and the creation of Bangladesh, the two countries met at Shimla and agreed on 2 July 1972 to settle their differences bilaterally and by peaceful means, to respect the line of control in Jammu and Kashmir resulting from the ceasefire, and to work towards…
Read the full explanation →How many major commercial banks were nationalised in India in 1969?
In July 1969 the government of Indira Gandhi nationalised the fourteen largest commercial banks, each with deposits above fifty crore rupees, in order to take banking to the villages and to direct credit towards agriculture, small industry and the weaker sections, which were together termed the priority sectors.
Read the full explanation →The Tashkent Agreement of January 1966, which ended the Indo-Pak war of 1965, was mediated by the Premier of which country?
The agreement was signed at Tashkent, then in Soviet Uzbekistan, on 10 January 1966 by Prime Minister Lal Bahadur Shastri and President Ayub Khan of Pakistan, with the Soviet Premier Alexei Kosygin acting as host and mediator.
Read the full explanation →Who succeeded Jawaharlal Nehru as the Prime Minister of India in 1964?
The slogan Jai Jawan Jai Kisan, the start of the Green Revolution and the war of 1965 belong to his short term.
Read the full explanation →Within what period must a consumer complaint ordinarily be filed from the date on which the cause of action arose?
The Consumer Protection Act requires a complaint to be filed within two years from the date on which the cause of action arose, that is from the date of the defect, the deficiency in service or the unfair trade practice complained of.
Read the full explanation →Which of the following was introduced for the first time by the Consumer Protection Act, 2019?
The Act of 2019 devotes a separate chapter to it, making a manufacturer, a product seller or a product service provider liable to pay compensation for harm caused by a defective product or a deficient service, whether the defect lies in manufacture, design, the deviation from specifications, a warranty or…
Read the full explanation →Under the Competition Act, 2002, an agreement between competing firms to fix prices or rig bids is called:
A cartel is a horizontal agreement, that is one between enterprises at the same level of the production or supply chain, to fix prices, limit or control output, share markets or territories, or rig bids in a tender.
Read the full explanation →An appeal against an order of the Competition Commission of India lies to which body?
Appeals from the Commission were earlier heard by the Competition Appellate Tribunal, and that work was transferred to the National Company Law Appellate Tribunal, from whose order a further appeal lies to the Supreme Court.
Read the full explanation →The Competition Act, 2002 replaced which earlier law?
The MRTP Act treated size itself as a danger and required large undertakings to obtain approval for expansion, which suited a controlled economy.
Read the full explanation →