General Awareness – Banking Awareness
Banking Awareness is an important section in bank exams like IBPS, SBI, and RBI. Questions are based on banking terms, financial institutions, and basic economic concepts.
Basic Banking Terms
- Bank: Institution that accepts deposits and gives loans
- Interest: Amount paid for using money
- Loan: Money borrowed from bank
- Deposit: Money kept in bank
Types of Banks
- Commercial Banks
- Central Bank (RBI)
- Cooperative Banks
- Regional Rural Banks (RRBs)
Important Concepts
- RBI: Central bank of India
- CRR: Cash Reserve Ratio
- SLR: Statutory Liquidity Ratio
- Repo Rate: Rate at which RBI lends to banks
- Reverse Repo Rate: Rate at which RBI borrows from banks
Digital Banking
- UPI (Unified Payments Interface)
- NEFT (National Electronic Funds Transfer)
- RTGS (Real Time Gross Settlement)
- IMPS (Immediate Payment Service)
Practice Questions
Q1. What is the full form of RBI?
Answer: Reserve Bank of India
Q2. What is Repo Rate?
Answer: Rate at which RBI lends money to banks
Q3. What is CRR?
Answer: Cash Reserve Ratio
Q4. Which system is used for instant money transfer?
Answer: IMPS
Speed Strategy
- Revise banking terms daily
- Focus on RBI-related concepts
- Read current affairs regularly
- Practice MCQs
Practice Task
1. Full form of NEFT
2. What is SLR?
3. What is UPI?
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