Banking Awareness is a scoring topic in competitive examinations. The questions are typically present in the General Awareness section of the exam paper. Candidates should know basic banking terms, functions, history of major banks, etc., to score well in this section.
For banking examination aspirants, the Banking Awareness section is most important. Even after qualifying for the written examination section, the interview also covers similar topics. For help in the preparation, a banking awareness PDF can be a handy guide.
Importance of Banking Awareness
The Banking Awareness section is highly scoring. Everything covered here is purely theoretical. Unlike the quantitative aptitude section, there are no complicated and long calculations. Scoring well in this section can surely bring up the overall score of the candidate.
Also, as mentioned above, preparation for the banking awareness section will help in the interview part. All primary bank interviews cover rudimentary banking terms and definitions. You need to understand Financial Awareness along with knowledge of the history of banks and the banking system.
What Is Covered In Banking Awareness?
The Banking Awareness section syllabus is vast and will take considerable time to finish up. For efficient preparation, knowing the possible range of topics will prove helpful. Refer to the following table for important banking awareness topics and prepare a banking awareness PDF to keep handy while studying.
| History of banks | The banking system in India |
| RBI Act, 1934 | Banking Regulations Act, 1949 |
| Inflation | Green Banking |
| Financial Institutions in India | Types of loans and bank accounts |
| CIBIL | BSE and NSE |
| Insurance Principles | Non-Performing Assets (NPA) |
| Insolvency and Bankruptcy Code, 2016 | The business of Banking Companies in Banking Regulation Act, 1949 |
| Bond, types, and features | LIBOR and MIBOR |
| Reverse Mortgage Loan | Foreign Banks in India |
| Basel III Accord | Transfer system |
| Inflation-Indexed Bonds | Rupee Denominated Bonds |
| Remittances | Bank ratings |
Preparing For Banking Awareness
Given the extent of the syllabus, it is common for candidates to report anxiety in the beginning. To assist in the preparation process, here are some useful tips.
Daily News Updates: Reading through the economic section of newspapers will help considerably. Actively reading through the paper, marking the hard words, making notes, etc., is also essential. If you are short on time, switch on the television and listen to the background news.
Taking Notes: Remembering all the terms, acts, and dates can be intimidating at first. It can be bewildering without notes. Independent studies have found the importance of writing notes when preparing for examinations and revisions. Candidates can recall the material quicker and accurately later. Jot down all the essential terms in an easy-to-revise condensed form for ease of use.
Banking Books: The market has various highly-rated books dedicated to banking awareness, with new books released daily. Buying a couple of books will help you prepare for the section in a structured manner. Books will include topics to cover, how to cover them, how to revise, and more. Most books also have revision tests and questions from past years for practice.
Tests: All the studying and revisions are pointless if there are no regular practice tests. Various websites are offering online tests for free or at a nominal cost. Downloading the papers from the previous year should be a good start. Visit educational portals where visitors share papers regularly with other aspirants. Try timing while testing to get an idea of the real exam.
Banking jobs are positions held in high regard due to their job security and regular pay increases. Thousands of candidates across the nation wait for the chance to work in a bank. To stand out from them, solid preparation in the Banking Awareness section is a must. Get an idea of the syllabus, important topics, study newspapers, and attempt mock tests to do so.
