General Awareness and Business Awareness
General Awareness and Business Awareness
SRCC GBO's general awareness section checks whether you follow the business and economic world and can place static facts around it. Expect questions on the Indian economy (GDP, inflation, RBI policy, budget, banking, GST, MSMEs), international institutions and trade (WTO, IMF, World Bank, FDI, balance of payments), companies and brands, business personalities, and current affairs of the past year.
Core rules
- Link static to current: for every headline, know the institution, the country, and the person. A question on a new trade agreement may test which bloc or institution is involved.
- Institutions: the IMF (Washington DC) publishes the World Economic Outlook; the World Bank publishes Global Economic Prospects; the WTO (Geneva) publishes the World Trade Report.
- Policy vocabulary: repo rate, reverse repo, CRR, SLR, fiscal deficit, current account deficit, disinvestment, and production-linked incentive schemes.
- Business awareness: parent company and brand, founder, headquarters, and sector for major firms.
Worked example
Which institution publishes the World Economic Outlook? The IMF. Its mandate covers global macroeconomic and financial stability, and the WEO is its flagship forecast. The trap is to choose the World Bank, which is a development-lending institution and publishes Global Economic Prospects; both are in Washington, which makes the confusion easier.
Traps that cost marks
- Mixing up IMF and World Bank roles.
- Remembering an old office-holder or an outdated rank, since 'largest' changes.
- Confusing similar schemes and their ministries.
- Guessing on 'first' and 'only' claims without a fact.
Revise from one consolidated monthly business-news source rather than scattered headlines.