Financial and Banking Awareness Tips

Posted by on 25th, February, 2024

Financial and Banking Awareness Tips

Preparing for financial and banking awareness is very much similar to preparing for general knowledge and current affairs. You need to cover all events six months prior to the exams at the minimum. And events occurring a month prior to the exam date should be given priority. Thorough preparation is the only way to answer the questions accurately and get high scores.

Basic Preparation

Some of the basic areas that you need to prepare include topics related to financial concepts and terms, RBI, Financial policies and schemes, news events related to banks and public, financial markets, financial organizations, monetary policies, Indian and Global economy and agreements.

Any information, preferably current, relating to these topics should be read thoroughly. Meticulous preparation of these basic topics will help answer most of the questions on banking and financial awareness.

Since only major news events are often considered in the exams, candidates need to prepare just the main details of the information without venturing deep into the concepts or the academic details.

Study Material

When the exam date is just a few weeks away, you will not have the time or the inclination to indulge in reading newspapers. Instead, try reading the quizzes and the capsules available online. This will make you score higher in this section and increase the overall score too.

The important study material in this section includes news on finance and banking, static knowledge of banking, important national events such as government schemes, awards, sports, etc.

Preparation Method

For the static knowledge on banking, visiting the website of RBI, referring to books on banking and finance, and taking online mock tests help in gaining the necessary knowledge on the banking sector.

For financial and banking news, a regular reading habit is necessary. Instead of reading newspapers, you can visit the Facebook or the website page of the newspapers such as Hindu Business Line and Economic times to access the important content.

Magazines, which prominently feature banking news and current affairs, and news channels such as Zee Business, CNBC, etc., that feature important news on Indian and world economy help improve your preparation level.

For current affairs news questions relevant to banking, the above-mentioned sources can be used as these questions are based on topics such as winners of sports tournaments, appointments in government institutions, and important meetings of organizations such as SAARC, NATA, etc.

Smart Preparation Tips

While preparing, ensure your full focus is on the subject matter. This will help you grasp the details in a shorter time and remember them for a longer span.

The internet is a rich source of information if you know where to find it. Many websites provide information on the banking and the financial industry. Choose sites with good reviews to get the authentic information from. Videos too are available on the YouTube to brush up your banking awareness knowledge.

Social media platforms, such as Twitter and Facebook have many accounts focused on bank exam topics. Make sure to follow them to absorb the latest information.

Quizzes online and through Android apps help a great deal in keeping your knowledge updated.

Although banking and financial awareness is only a part of the General awareness section, it is important not only for the exams but also for the interview later on. As a prospective candidate for the banking sector, you will be expected to have deep knowledge on the subject. Hence, it is always wise to give more attention to this section.