General Knowledge questions based on current GK are pretty common in most competitive exams having GK as a test component. So much so that the GK part in many tests like those for Probationary Officers and Bank Clerks in PSU banks is almost entirely based on current GK.
Current Affairs or Current GK is a full-fledged test within the Probationary Officers and Bank Clerical test, MBA tests like CMAT, MAT, SNAP and IRMA. The current GK portion, while giving importance to Economy, Banking and Business, also features questions on political developments, new policies and programmes, prizes and recipients, new books, important treaties, visits and space / defence-related news. The latest GK Test in these General Knowledge exams contains MCQs (Multiple Choice Questions) on current events, mostly based on the past 12 months. Major banking issues form a special focus in many such current GK segments in PO tests, especially in those conducted by the SBI and the RBI.
The CWE for PO/Clerical, MBA tests and SSC tests contain the following major topics in the Current Affairs part :
Economy ----- Current Affairs like Budget, 5-Year Plans, GDP growth targets, sectoral allocation, welfare schemes like MGNREA, TPDS, budgetary receipts and expenses, budget deficit, fiscal deficit, inflation, banking developments - changes in cash reserve ratio, repo and reverse repo, Census (2011 data) e.g. - density, sex ratio, literacy ratios, working population etc.
Banking ----- Savings and Current Accounts, Cheque and Demand Draft, Loans, KYC norms, Latest GK topics like NEFT and RTGS, Statutory Liquidity Ratio, Cash Reserve Ratio, Repo, new banking policy, standard banking procedures etc
Business and Corporate World ----- Latest GK like New brand launches, mergers-acquisitions-takeovers, splits, appointments -resignations, technological developments in mobiles, computers, defence etc.
Films, Entertainment and Literature ----- Latest GK topics like Films and Books in news especially award-winners, fashion events like Lakme Fashion Week, Miss World etc.
Sports ----- Latest GK topics like Olympics, Commonwealth, New records, FIFA, T20 and IPL
Books ----- Latest GK like popular new titles, especially prize winners e.g. those winning Booker, Nobel, and Pulitzer Prizes
Politics ----- Latest GK like state elections, Lok Sabha polls (e.g. in 2014), conferences, summits, treaties, disputes, wars, talks, organizations, new laws, significant international organizations.
Honours and Prizes ----- Latest GK questions on Phalke, Nobel, Magsaysay, Templeton, Indira Gandhi Prize for Peace, Gandhi Peace Prize, Bharat Ratna, Ashok Chakra etc.
Besides, a basic understanding of these topics would be desirable - Indian geography, customs, dances, festivals, culture, organizations, population and institutions.
We would strongly recommend a regular reading of one / two dailies for you to get a decent score in the current affairs portion. Some good choices in this context are The Hindu / The Times of India/ The Hindustan Times. While doing so, pay special attention to the News Briefs / Digests on the left side of the front page of your newspaper.
To help you prepare for the test, we offer brief, pointed and usable GK study material along with current GK tests. The tests are completely updated to give you the best possible coverage. Every current GK test has detailed solutions and hints for future benefit. The website has chapter-wise GK for different competitive exams, test papers and many free GK tests. To use a free general knowledge test, all that you need to do is - register only once and log in to avail these tests.