Banking General Awareness – Complete Study Guide
Introduction – Banking General Awareness is one of the most important sections in banking exams such as IBPS PO, SBI PO, RBI Assistant, NABARD, SSC, Insurance Exams. This section tests a candidate’s understanding of banking systems, financial institutions, current financial developments, economic terms, and general financial knowledge.
1. History of Banking in India
Ancient Banking System: Merchants and money lenders provided loans. Indigenous bankers were called Sahukars and Seths.
| Year | Event |
|---|---|
| 1770 | Bank of Hindustan established |
| 1806 | Bank of Bengal established |
| 1921 | Imperial Bank of India formed |
| 1935 | Reserve Bank of India established |
| 1955 | State Bank of India established |
| 1969 | 14 major banks nationalized |
| 1980 | 6 more banks nationalized |
2. Reserve Bank of India (RBI)
Established on 1 April 1935, nationalized in 1949. Headquarters: Mumbai. Functions: Banker’s Bank, Banker to Government, Controller of Credit, Currency Issuer, Custodian of Foreign Exchange, Monetary Authority.
3. Monetary Policy Tools
- Repo Rate: Rate at which RBI lends to banks
- Reverse Repo Rate: Rate RBI borrows from banks
- CRR: Cash Reserve Ratio
- SLR: Statutory Liquidity Ratio
- Bank Rate: Long-term lending rate
- OMO: Open Market Operations
4. Types of Banks & Accounts
Commercial Banks (Public/Private/Foreign), Cooperative Banks, RRBs, Small Finance Banks, Payments Banks. Account types: Savings, Current, Fixed Deposit (FD), Recurring Deposit (RD).
5. Digital Banking
UPI, NEFT, RTGS, IMPS, AEPS, Mobile Banking, Internet Banking.
6. Important Banking Terms & Abbreviations
7. Financial Institutions
NABARD – Agriculture & Rural Development | SIDBI – MSMEs | EXIM Bank – Foreign trade | NHB – Housing finance | SEBI – Stock market regulator | IRDAI – Insurance regulator
8. Government Schemes
- PM Jan Dhan Yojana – Financial inclusion
- Mudra Yojana – Small business loans
- Stand-Up India – SC/ST & women entrepreneurs
- Atal Pension Yojana – Pension for unorganized workers
9. Basel Norms
Basel I (Capital adequacy), Basel II (Risk management), Basel III (Liquidity & safety).
10. Important Committees
Narasimham Committee (Banking reforms), Urjit Patel Committee (Monetary policy), Malegam Committee (Microfinance), Nayak Committee (MSME credit).
11. Banking Ombudsman & Priority Sector Lending
Ombudsman: Grievance redressal. Priority sectors: Agriculture, MSME, Education, Housing, Renewable Energy.
12. Preparation Strategy & One-Liner Questions
RBI HQ: Mumbai | Banking Regulation Act: 1949 | Currency issued by RBI except: ₹1 note | India’s largest public sector bank: SBI
📌 Frequently Asked Banking Questions (Interview & Exam)
Complete Banking Awareness guide – Master these concepts for RBI, SBI, IBPS, and other competitive exams.