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Before getting more into deep about why banking awareness is so important, let’s first understand what it is really about.
Banking knowledge is included in the GK (general knowledge) section of bank examinations that took place throughout India and all over the world. It includes questions about the background of banks operating In India, financial companies, banking terminology, and the responsibilities and significance of the financial institutions in the country’s financial system.
Significance Of Banking Knowledge
If you’re planning to sit in for a banking examination irrespective of the state you’re applying for, banking awareness becomes an important aspect that you shouldn’t skip. The banking awareness relevant questions are not lengthy in terms of calculations but it requires strong knowledge of the basics and fundamentals of banking structure and relevant operations.
How To Prepare For Banking Awareness For Banking Examination?
Banking general awareness entails a thorough understanding of India’s and the world’s general static characteristics.
For banking awareness, you need to make your financial sector basics strong. You can follow any current affairs booklet or graduation level banking books for the clarification of the basics.
The following are some of the most common topics covered in the Banking General Awareness sections:
- History of Banking
- Major Provisions of RBI Act
- History of Reserve Bank of India
- Banking Regulation Act
- Banking Reforms During Liberalisation
- Nationalization of Banking
- Types of Banking
- Public Sector Banks
- Major Banking Reforms of 21st century
- Types of Banks
- Foreign Banks in India
- Private Sector Banks in India
- Cooperative Banks in India
- Small Finance Banks
- Local Area Banks
- Regional Rural Banks
- Development Financial Institutions (DFIs)
- Banking Correspondents
- Payment Banks
- Structure of RBI
- Monetary Policy of Reserve Bank of India
- Important Boards and Committees of RBI
- RBI Functions – Regulation of Banks
- RBI Functions – Banker to other banks
- RBI Functions – Banker and Debt Manager for Governments
- RBI Functions – Currency Administration
- RBI Functions – Custodian of Foreign Exchange
- Bank Deposits
- Overview of Banking Business
- Bank Accounts
- Lending Risks and Non-performing Assets
- Lending Operations
- Micro-Credit and Micro-Finance
- Debit Cards & Credit Cards
- Credit to Micro, Small and Medium Enterprises
- Lead Bank Scheme
- Payment of Pension to Government Pensioners
- Financial Inclusion
- ATMs
- Self-Help Groups
- Banking Ombudsman Scheme
- Various Negotiable Instruments
- Various Saving Schemes and Products
- Methods of Remittance
- Concepts Related to Negotiable Instruments
- Methods of Remittance
- Payment Systems
- Technology in Remittance
- NEFT, RTGS, and IMPS
- Payment and Settlement Systems Act, 2007
- Bharat Bill Payment System (BBPS)
- BHIM and UPI
- Indian Money Market – Structure and Features
- Regulation of Money Market in India
- Internet & Mobile Banking
- Instruments of Money Market
- Monetary Aggregates and Money Supply
- Capital Market Terminology
- Capital Market in India
- Derivatives and Futures
- Capital Market Instruments
- Various Types of Non-banking Financial Companies
- NBFC-MFIs
- Infrastructure Finance Companies (IFCs)
- NBFC – Peer to Peer Lending Platform
- Core Investment Companies
- NBFC – Factors
- Infrastructure Debt Funds
- Various Types of Financial Services
- Merchant Banking
- Underwriting
- Issue Management
- Portfolio Management
- Debenture Trustees
- Hire Purchase
- Leasing Services
- Factoring Business
- Housing Finance
- Venture Capital
- Personal Loans
- Housing Loans
- Corporate Loans
- Credit Rating
- Mutual Funds
- India\’s Foreign exchange Reserves
- FERA and FEMA
- Digital Public Credit Registry
- Role of RBI and Banks in Foreign Exchange Management
- Aadhaar and E-KYC in Banks
Conclusion
Banking awareness is one of the components of the syllabus for various banking examinations throughout India and all over the world. The complete syllabus that one needs to study for banking awareness is mentioned above, just make sure that you make the basics clear and solid so that the further banking operations can be easily understood. If you’re preparing for the banking examination, then you must consider banking awareness as an essential part of the GK syllabi and try to make that part strong.
