IBPS PO Banking Awareness – Preparation Strategy for Mains

An important part of IBPS PO preparation or any bank exam is to get a good command over Banking Awareness. Banking Awareness could help you score better in the General Awareness Section of the Mains exam as well as to create a good impression in the interview. Keeping this our focus, we shall discuss a comprehensive strategy for the preparation for Banking Awareness for IBPS PO exam.

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The most important phase, the prelims exam is over. And one should gear up for Mains and Interview from Day 1. This article will help you find a strategy for preparing Banking Awareness, especially for IBPS PO Mains.

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Preparation Strategy for IBPS PO Banking Awareness

Let us have a look at the Mains Exam Structure.

TESTS (Not by Sequence) No. of Questions Maximum Marks Time for each test
Reasoning & Computer Aptitude 45 60 60 min
General/Economy/Banking Awareness 40 40 35 min
English Language 35 40 40 min
Data Analysis & Interpretation 35 60 45 min

Out of a total of 155 Questions, General awareness carries 40 marks translating to slightly more than one-fourth of the weightage in the exam.

Banking Awareness:

Banking Awareness consists of a vast list of topics and needless to say, it is dynamic, in the sense, what was the law of land yesterday, could be changed today. To understand the dynamic part of Banking Awareness we need to first master the static concepts that drive the field.

The following are the list of important topics for Banking Awareness for IBPS PO Mains.

FINANCE SYSTEMS: (Indian and International)

finance systems

FINANCE CONCEPTS

finance concepts

BANKING IN INDIA

banking in India

BANKING & FINANCE ACTS

banking and finance acts

How to cover the topics?

The preparation of Banking Awareness for IBPS PO Mains demands only a basic understanding of the above-said topics. The knowledge gained through these static topics should be applied to banking news that are read in newspapers, magazines, etc.,

If any particular topic has been widely covered in the news, prior to the month before the mains exam, it gains importance and should be given more importance.

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Where do I prepare from?

  • Newspapers for Concepts and Current Affairs: There are many endless sources to prepare these topics from. Starting with standard newspapers such as Business Standard and/or Live Mint could help you with Banking Current Affairs along with the concept behind the same.
  • Can books help in exam? Reading books is not generally encouraged for the preparation of Banking Awareness for IBPS PO Mains, one for they could go outdated in the course of time, two it could take a lot of time to finish a book.
  • Let’s Go Online! Other online sources such as RBI Websites, SEBI, CIBIL websites can actually help you understand the basic concept.

To get all the important topics in one place refer to Oliveboard’s FREE e-books which includes topics such as Types of Banking, Important Abbreviations, Banking Terms, Banking Apps, Regulations & BASEL Accords, Financial Awareness, etc.,

Since, only basic knowledge is required for Banking Awareness for IBPS PO Mains, the above sources could be followed to ace the prestigious exam.

Tips for Preparation

  • Practice Questions – After understanding the concept, make sure to attempt many quizzes to test your understanding. Practicing questions can really help score high in this section, as it does not consume a lot of time.
  • Notes for Banking Awareness – You can prepare notes on the important concepts of Banking Awareness and revise it. Keep it beside while reading the newspaper. Refer the concept whenever a banking news comes up. It will definitely help you to retain the endless information that keeps coming up every day.

Also, learn important sections of Acts related to Banking, as Questions could be asked on them as well.

Previous Year Questions of Banking Awareness for IBPS PO

Here are some of the Banking Awareness Questions for IBPS PO Mains that were asked in 2019.

Q. 1. ATMs set-up operated and owned by non-bank entities are called as __________.

    1. White Label ATMs
    2. Brown Label ATMs
    3. Pink Label ATMs
    4. Green Label ATMs
    5. Orange Label ATMs

Answer: 1

Q. 2. How many digits are there in a CIBIL Score?

    1. 5
    2. 3
    3. 4
    4. 7
    5. 6

Answer: 2

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Sample Questions for Banking Awareness for IBPO PO Mains

Q. 1. Which of the following is not a Negotiable instrument?

    1. Cheques
    2. Postal Money Order
    3. Bill of Exchange
    4. Promissory Note
    5. Demand Draft

Answer: 2

Q. 2. Which of the following is a Savings account maintained in Indian Currency where one invests his foreign income earned outside India?

    1. Non – Resident Ordinary Account
    2. Non – Resident External Account
    3. NOSTRO
    4. Foreign Currency Non – Resident Account
    5. Resident Foreign Currency Account

Answer: 2

Q. 3 What is the maximum maturity for a T – bill?

    1. 15 days
    2. 91 days
    3. 182 days
    4. 364 days
    5. 182 days

Answer: 4

A Quote by Hartley Withers gains attention here. Good Banking is produced not by good laws but by good bankers. Best of Luck for your journey towards being a ‘good banker’!

Hope this blog helped you in your preparation. If you have any queries feel free to post it below.

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