Banking Awareness: Prepare with Expert Recommended Strategy

Banking Awareness: For every candidate aspiring to be a part of the banking sector the banking awareness section plays a very important role. Banking awareness questions cover a major part of the general awareness section. It is impossible to crack the mains and personal interview round of the banking examinations.

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The banking awareness questions are incorporated in the various banking examinations like the recruitment examinations for the post of probationary officers and junior associates/ clerical cadre. These recruitment examinations are conducted by organizations like IBPS (Institute of Banking Personnel Selection), RBI (Reserve Bank of India), SBI (State Bank of India), RRB (Regional Rural Banks), etc. This section is also important for the private sector banking recruitment examinations like South Indian Bank, LVB (Lakshmi Vilas Bank), etc.

In this article, we will give you an idea about the importance of banking awareness, syllabus for the examination, banking awareness quizzes, preparation tips by experts, reference books, etc. With the peculiar details, we have attached the links to the industry’s best study material specially curated by our expert faculty. Candidates are advised to take a look at the article carefully before starting their preparation for banking competitive examinations.

Bank Exam Pattern

Aspirants keep in mind to understand the examination thoroughly as before starting the preparation it is of utmost importance to understand what you are actually preparing for? Most of the examinations for the banking sector follow a similar pattern for the preliminary and mains test. Though it may vary for particular posts under the recruitment notifications of the different banking organizations. Here we are focusing on the examination pattern for the post of probationary officers, clerks / junior associates, and specialist officers.

The candidates are selected for the post of probationary officers through a three-step process:

  1. Preliminary test
  2. Mains test
  3. Group discussion and personal interview

Bank Exam Pattern: Preliminary test

S. No. Subject Total Number of Question Duration
1. English Language 30 20 Minutes
2. Reasoning Ability 35 20 Minutes
3. Numerical Aptitude 35 20 Minutes
Total 100 60 Minutes

NOTE: A total of 100 questions are given in the preliminary phase of the examination. Each question carries one mark. And for every incorrect answer, 0.25 marks are deducted.

Bank Exam Pattern: Mains

S. No. Subject Total Number of Question Maximum Marks Duration
1. English Language 35 40 40 Minutes
2. Reasoning ability and computer aptitude 45 60 60 Minutes
3. Data Analysis and Interpretation 35 60 45 Minutes
4. General Economy and Banking Awareness 40 40 35 Minutes
Total 155 200 180 Minutes
5. English Language (Letter Writing and Essay) 2 25 30 Minutes

Group discussion and personal interview

This is the last and final stage of the selection procedure for the post of probationary officers. The total marks assigned to this phase is 50 marks. The distribution of the total marks between the group discussion round and personal interview round is given below in the tabular format:

S. No. Name of the Round Maximum Marks
1. Group Exercise 20
2. Personal Interview 30
Total 50

The candidates are selected for the clerical cadre through a two-step process:

  1. Preliminary test
  2. Mains test

The pattern for both the phases are given below in a tabular format

Clerical cadre: Preliminary Phase

S. No. Subject Total Number of Question Duration
1. English Language 30 20 Minutes
2. Reasoning Ability 35 20 Minutes
3. Numerical Aptitude 35 20 Minutes
Total 100 60 Minutes

NOTE: A total of 100 questions are given in the preliminary phase of the examination. Each question carries one mark. And for every incorrect answer, 0.25 marks are deducted.

Clerical Cadre: Mains Phase

S. No. Subject Total Number of Question Maximum Marks Duration
1. English Language 35 40 40 Minutes
2. Reasoning ability and computer aptitude 45 60 60 Minutes
3. Data Analysis and Interpretation 35 60 45 Minutes
4. General Economy and Banking Awareness 40 40 35 Minutes
Total 155 200 180 Minutes
5. English Language (Letter Writing and Essay) 2 25 30 Minutes

NOTE: There is no group discussion and personal interview round for the selection of individuals as clerks or junior associates. Therefore, the final selection for this post depends on the marks secured in the mains stage of the examinations.

Specialist Officers (SO)

Banking organizations also provide opportunities to candidates having the professional experience to work in various departments at specialized posts as officers. Every year banking organizations release vacancies for some of the common departments like IT(Information Technology), HR (Human Resources), marketing, law, etc.

Generally, the recruitment for the post of specialist officers is conducted in two stages:

  1. Preliminary

The following tables give a section-wise distribution for the preliminary stage along with the marks and time duration of the specific posts.

  • Law Officer and Rajbhasha Adhikari
S.No. Subject Number of Questions Maximum Marks Time Duration
1. Reasoning Ability 50 50 40 Minutes
2. English Language 50 25 40 Minutes
3. General Awareness with Special emphasis on Banking Industry 50 50 40 Minutes
Total 150 125 120 Minutes
  • IT Officer, HR Officer, Marketing Officers, and Agricultural field officers
S.No. Subject Number of Questions Maximum Marks Time Duration
1. Reasoning Ability 50 50 40 Minutes
2. English Language 50 25 40 Minutes
3. Quantitative Aptitude 50 50 40 Minutes
Total 150 125 120 Minutes
  1. Mains

The following tables give a section-wise distribution for the mains stage along with the marks and time duration of the specific posts.

  • Rajbhasha Adhikari
S.No. Subject Number of questions Maximum Marks Time Duration
1. Professional Knowledge (Objective) 45 60 30 Minutes
2. Professional Knowledge (Descriptive) 2 30 Minutes
  • IT Officer, HR Officer, Marketing Officers, Law Officers, and Agricultural field officers
S.No. Subject Number of questions Time Duration
1. Professional Knowledge 60 45 Minutes

NOTE: A total of 60 questions will be from the professional knowledge subject carrying 1 mark.

Banking Awareness Syllabus

After the analysis of the examination pattern. Let’s look at the banking awareness syllabus in detail. For your convenience, we have divided the syllabus into sub-topics

Indian Banking Sector
Indian Banking History Financial Reforms in India Financial Institutions of India
All the Firsts in banking Financial Inclusion Risks in the banking sector
Banking Reforms in India Functions of Banks Types of Accounts
Types of Cheques Different types of loans Types of Mortgages
NRI Bank accounts ATM Cards and Debit cards Bill of Exchange
Different types of Bank Cards Fund Transfer Services Reserve Bank of India
Non Performing Assets RBI Act of 1934 Banking Regulation Act of 1949
Monetary Policy Committee Monetary Policies of RBI Issuance of Currency in India
Nationalization of Banks BRBNMPL DICGC
Subsidiaries of RBI Credit Control Methods of RBI National Housing Bank
SIDBI NABARD Facts about Reserve Bank of India
NBFC Negotiable Instruments Government Securities
ReBIT IFTAS SPMCIL
Financial Systems
Structure of Banking Sector Retail Banking Types of Retail Banking
Financial Committees in India Banking Committees in India Types of Banking
Money Market Capital Market Instruments of Capital Market
Instruments of Money Market Mutual Funds Small saving schemes
Bancassurance LIBOR Rate of interest swaps
MIBOR Financial Institutions International Financial Institutions
Green Bonds NIIF SWIFT
Lending Rates Currency Circulation MCLR
Payment Banks and Internet Banking
Internet Banking in India Bharat Bill Payment System BHIM
Prepaid Payment Instruments Airtel Payment Bank Aadhaar Pay
Role of Immediate Payment Services in Banking UPI Prepaid Wallet Instruments
SARFAESI Act Codes in the Banking sector NPA
BASEL Norms CIBIL SEBI
Banking Institutions of India
Nationalized Banks Public Sector Banks Private Banks
Commercial Banks Exim Bank of India Export Credit Guarantee Corporation of India Ltd.
Co-operative Banks Regional Rural Banks Small Finance Banks
MUDRA Bank Insurance Companies NBFCs

Important Abbreviations

The abbreviation is a topic that is definitely asked in the banking examinations and is easy to remember. Usually, one mark or two mark questions are from this topic only. We have enlisted a few of the banking abbreviations for your reference.

  1. NBFC: Non-Banking Financial Company
  2. BRBNMPL: Bharatiya Reserve Bank Note Mudran Private Limited
  3. IDA: International Development Association
  4. AIIB: Asian Infrastructure Investment Bank
  5. SIDBI: Small Industries Development Bank of India
  6. BHIM: Bharat Interface for Money
  7. UPI: Unified Payment Interface
  8. ReBIT: Reserve Bank Information Technology Private Limited
  9. NABARD: National Bank for Agriculture and Rural Development
  10. SPMCIL: Security Printing and Minting Corporation of India Limited
  11. IFTAS: Indian Financial Technology and Allied Services
  12. DICGC: Deposit Insurance and Credit Guarantee Corporation
  13. LIBOR: London Interbank Offer Rate
  14. MIBOR: Mumbai Interbank Offer Rate
  15. SWIFT: Society for Worldwide Interbank Financial Telecommunications
  16. IPPB: India Post Payments Bank
  17. NIIF: National Investment and Infrastructure Fund
  18. MCLR: Marginal Cost of Funds based Lending Rate
  19. SARFAESI Act: Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest
  20. NPA: Non-Performing Asset

Banking Awareness: Preparation Tips

Here we have added the best strategies by our mentors for banking awareness preparation.

  • Understand the full syllabus, examination pattern, selection procedure, etc to make a strategy before starting your preparation.
  • Since there is a vast syllabus to be covered in a limited period a strategic study plan is required.
  • Learn various banking terms
  • Read related books and practice test papers
  • Keep an eye on regular banking news
  • Stay aware of foreign exchange rates
  • Brush up your basics and gain a clear understanding of the important topics.
  • Taking reference from previous year papers is a must
  • After getting the insights of the syllabus choose the topics according to your priority. Focus on your weak topics and use your strong topics wisely to score well in the examination.
  • Read Newspapers and editorials daily financial news.
  • Making short notes can be of great help for last-minute revisions before the examination.
  • Practicing mock tests is mandatory to analyze your performance and increase it accordingly.
  • Candidates should prepare for it on a regular basis by reading current affairs. Attempt daily quizzes to check your knowledge.
  • Practicing mock tests is mandatory to analyze your performance and increase it accordingly.

Click here to get the latest mock tests

Banking Awareness Books and Study Materials

Refer to the following books and study material while preparing for the banking awareness section:

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FAQs:

Q: Which is the best site for banking awareness?

A: Guidely will provide you best quality banking awareness preparation materials and quiz packages.

Q: What is the meaning of banking awareness?

A: In bank exams, banking awareness may be asked in the general awareness section. the banking awareness part will have questions related to banking history, terminologies, technologies, and banking current affairs.

Q: How do you read banking awareness?

A: To prepare banking awareness, read the daily newspapers to get updated with the banking current affairs and latest technologies. Apart from that, use quality study materials for the preparation of banking terminologies, and the history & functioning of the banking industry.