GK or General Awareness section in most MBA entrance exams play a significant role in shortlisting as well as in the personal interview round for final MBA admission process in top MBA colleges Most MBA entrance exams term the GK section as General Awareness or Current Affairs and award equally important weightage and make it mandatory to score a minimum score in the GK section. Accordingly, GK section constitutes an important part of MBA entrance test with a weightage of 15 to 25% in almost all the national level MBA entrance tests including XAT, IIFT, SNAP, CMAT, MAT among others. Besides, GK is at the core of various Class 1 and Class 2 All India Services Exams as well as State level exams for Recruitment.
GK questions are also the source of discussion during GD, PI, WAT, Extempore sessions for MBA admission in IIMs, FMS, MDI, SPJIMR, XLRI and other highly ranked institutes.
Types of GK in MBA Entrance Exams
The area of GK questions asked in various MBA entrance exams is very vast. It covers GK on Current Affairs, Business & Economy GK, International Current affairs, Government Schemes and their implementation, GK on Constitution of India and its important amendments, Static Questions on GK include the capitals, currencies, organs of UN, Books, Authors, Company logos, Sports and their records among others. Below are shared the key highlights of different types of GK in MBA entrance exams for example GK on Current Affairs for MBA; Business GK for MBA entrance exams among others.
Current Affairs for MBA Entrance Exam
Some of the National level MBA entrance exams like SNAP focus only on current affairs for the MBA entrance exam. The current affairs topics for MBA in these exams are limited to past two years or so. Some of the current affairs for MBA include the recent national and international developments, latest who’s who, international current affairs, bills passed by Parliament, Recent Government Schemes among others.
Business GK for MBA Entrance Exams
Business GK for MBA entrance plays important role in all the MBA entrance exams including IIFT, CMAT, SNAP, XAT among others. A candidate appearing for any of these MBA entrance exams should study well the Business GK for MBA like changes in economic policies, changes in Corporate and industry, latest business who’s who, logos of companies and their significance, financial results, abbreviations of business houses, changes in world business scenario, tie ups of the National and International companies, business achievements among others.
Importance of GK in MBA Exams
Prominent MBA entrance exams have separate sections on General Knowledge questions. The Role of GK section in national level MBA entrance exams is equally important. Except CAT all the key exams have General Knowledge as one of the important exam components which has to be qualified separately.
No. of GK questions
Total No. of questions
Weightage of GK in MBA Exams
The weightage to GK Section in MBA entrance exams is different as per the scoring pattern of each exam. Besides some of the MBA entrance exams like IIFT, SNAP even after awarding comparatively low weightage to GK section, have made it mandatory to clear the cut offs in this section. Here is the exam wise weightage to GK section in different MBA entrance exams:
Weightage percent to GK as per scoring pattern
8% (0.50 Mark for Each Right answer)
25% (1 Mark for Each Right Answer)
20% (Division of 1 Mark for 20 Qs and 2 Marks for 5 Qs)
25% (4 Marks for Each Right answer)
40% (1 Mark for Each Right answer)
How to Prepare GK Paper For MBA
Different MBA exams focus and accordingly prioritize their GK questions in their respective GK section. For example IIFT GK section specializes in International Trade, so the special emphasis lies on the International Trade Deals which have happened or are the topics of discussion while GK in XAT, SNAP and CMAT is a mixture of Static and Current Affairs.
The following information from previous Exam Toppers and experts suggest the strategy to prepare GK for MBA Entrance Exam
GK Books For MBA Entrance Exams
IIFT, SNAP, CMAT, XAT toppers suggest following GK Books for Competitive Exams to prepare for the GK section in MBA exam:
- Manorama Year Book is one of the best recommended GK Book for competitive exams
- Business GK and Economics for MBA preparation can be done with the regular reading of ‘Business Standard’, ‘The Economist’, ‘Economic Times’ along with reading the changes in RBI policy guidelines, Economic Survey of India among others
GK Books Pdf
The General Knowledge books for competitive exams Pdf are available online to prepare for GK in MBA entrance exams. You can download these GK Books Pdf for MBA exam and assess your preparation.
The GK Pdf contains not only the sample and expected GK questions but also their answers which saves your time also.
GK Paper for MBA
The previous year GK Questions for MBA Entrance Exams are the best source of knowing the GK question trends in the MBA entrance exam. Besides, almost all the official MBA entrance exam websites publish the sample GK questions to apprise the candidates with the current GK question trends.
MBAUniverse.com has compiled the previous GK question papers of XAT, IIFT, SNAP among others with answers. You can practice the GK questions in given time frame to assess your GK preparation:
Past exam toppers suggest to Read regularly the news papers and create your own GK question bank.
Key Areas for GK Preparation
Everything under the Sun is covered in the GK section preparation:
- Business & Economics – Fiscal and Monetary policy changes
- Current Affairs & Social Issues
- International Current Affairs & Events
- UNO – Wings, agencies, HQs, Abbreviations
- Countries-Capital, Currency, prominent development
- Global Summits
- Latest Who’s is Who
- Constitution of India and recent amendments
- Sports – National & International
- Awards, Honours, National, International days
- Books, Authors
- Company Logo identification
- Questions related to History, Geography, General Science
XAT GK questions are placed in a separate section and carry negative marking of ¼ for wrong answer. XAT GK questions are not taken into account for percentile calculation but XLRI Jamshedpur uses it as a good source to assess candidates’ performance in the shortlisting and final selection round process.
To attempt GK questions in XAT exam, 10 minutes time to attempt 25 GK questions is considered ideal. XAT General Knowledge section consists of questions based on Static GK as well as recent current affairs based on Science, Technology, Economics, Organisations, Business among others.
The previous XAT GK papers reveal that XAT GK section consists of Static as well as current affairs. Read More on XAT GK Preparation
Symbiosis National Aptitude Test (SNAP) 2018 on December 16, 2018 has a separate section of SNAP GK questions comprising 25 total MCQs and Non-MCQs. Out of them 20 questions are of MCQ type with +1 mark for each correct answer and 5 questions with +2 Marks for each correct answer. The section carries a weightage of 20% in the SNAP 2018 exam. Key features of SNAP GK section in SNAP 2018 exam are:
- GK in SNAP carries a weightage of 20 percent in the exam
- SNAP GK questions cover the current affairs of past 2 years only
- There is no sectional time limit to attempt GK questions in SNAP
- GK Section in SNAP has individual cut off. Read More on SNAP GK Preparation and Previous SNAP GK Questions and Answers
GK for IIFT MBA Entrance Exam
One of the important points which differentiates IIFT exam from other exams is the GK section in IIFT MBA entrance exam. IIFT GK section has individual cut off. Although IIFT GK section carries a low weightage of 8% in the exam, candidates find it difficult to clear the sectional cut off.. Read More on IIFT GK
December 2018: Current & Business GK
- RBI Governor Urjit Patel Resigns:
RBI (Reserve Bank of India) Governor, Urjit Patel, resigned after a prolonged and bitter standoff with the government, thus becoming the first Central Bank Governor to quit before the end of his term in the post liberalization era.
- Shaktikanta Das appointed as the new RBI Governor:
Former economic affairs secretary Shaktikanta Das was named the 25th governor of the Reserve Bank of India (RBI) to succeed Urjit Patel, who quit abruptly amid a bitter dispute over the regulator’s autonomy. The appointment means that the central bank will once again be headed by a former Indian Administrative Services (IAS) officer.
- ISB Professor Appointed as Chief Economic Adviser
Krishnamurthy Subramanian, a 47-year-old associate professor at the Hyderabad-based Indian School of Business (ISB), was appointed as the new Chief Economic Adviser to the Government of India. A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Subramanian is one of the world's leading experts in banking, corporate governance & economic policy.
- India’s economy grew at 7.1% in 2nd Quarter:
According to the data released by Central Statistics Office, India’s Gross Domestic Product (GDP) growth rate for the second quarter ( July – September) for the financial year 2018-19 was 7.1%.
India’s GDP growth rate for the first quarter (April – June) of the financial year 2018-19 came in at 8.2%.
- Global Wage Report released by International Labour Organisation
Workers in India got the highest average real wage growth (adjusted for inflation) in the last decade in southern Asia, according to the Global Wage Report 2018/19 published by International Labour Organisation (ILO). During 2008-17, real wage growth in India stood at 5.5 per cent, highest among all the countries in southern Asia, the report said.
Women continued to be paid around 20 per cent less than men globally and the gap was lowest in high-income countries and highest in low and middle income countries, the report added.
- RBI to Inject Rs 10,000 cr through OMO
The Reserve Bank of India will inject Rs 10,000 cr into the banking system on 6 December 2018 to increase liquidity. The purchase will be made through Open Market Operations (OMOs)
- Climate Change Performance Index Released
The Climate Change Performance Index 2019 was published by international NGO Germanwatch & the New Climate Institute along with the Climate Action Network (CAN) on 11 December 2018. India was ranked 11th in the Climate Change Performance Index, up from 14th in 2017. Sweden leads the ranking followed by Morocco & Lithuania.
- India 4th highest emitter of Carbon Di Oxide
India is the fourth highest emitter of carbon dioxide in the world, accounting for 7 per cent of global emissions in 2017. The top four emitters in 2017, which covered 58 per cent of global emissions, were China (27 per cent), the US (15 per cent), the European Union (10 per cent) and India (7 per cent)
- Air India ends 30-year-old ties with ticket reservation company:
Air India ended its 30-year-old relationship with global air ticket reservation provider, Amadeus, a move that is estimated to help the national carrier save Rs 3,000 crore in the next 6 years on ticket sales and distribution costs. Travelport reservation system to be used from now onwards.
- HCL Technologies acquired select software assets of IBM
HCL Technologies acquired select software assets of IBM at $1.8 billion, making it the largest acquisition of a business by an Indian IT services company. The products which represent a total addressable market of more than $50 billion include, Appscan for secure application development, BigFix for secure device management, Unica for marketing automation, Commerce for omni-channel eCommerce, Portal for digital experience, Notes & Domino for email and low-code rapid application development, and Connections for work stream collaboration.
- eATM launched by ICICI Securities & BSE
Through eATM, clients of the domestic brokerage entity will be able to receive the pay-out within 30 minutes of selling the shares. The service would have a cap of Rs 50,000 per client a day & would be applicable on about 600 stocks listed on the BSE.
- HUL board approves merger with GSKCH India
Hindustan Unilever Limited (HUL) approved the merger with GlaxoSmithKline Consumer Healthcare through an all equity deal on 3 December 2018. GSKCH India sells consumer healthcare products including the popular drink brand ‘Horlicks’
- Vanessa Leon won ‘Miss World 2018’ Crown
Having pursued a degree in International Business, Vanessa, is currently on the board of directors of a rehab centre for girls and volunteers for 'Migrantes en el Camino'. She is a speaker for the National Youth Institute as well as working as a model and a presenter.
- Catriona won the ‘Miss Universe 2018’ title
The Philippines’ Catriona Gray was named Miss Universe 2018 in a competition concluding in Bangkok, besting contestants from 93 other countries and delighting her home country.
November 2018: Current & Business GK for Interview
- Ease of Doing Business 2019 Released by: World Bank
India witnessed a 23-notch jump increase from 100th position to 77th position in the World Bank’s report of the ease of doing business that encompasses the performance of 190 Countries.
The ranking was topped by New Zealand, Singapore & Denmark
- New Zealand
- Hong Kong
- South Korea
Ranking for Asian Countries
100 Sri Lanka
- India Ranks 12 in Dangers Associated with Surfing the Web
Globally, India ranks 12th when it comes to the dangers associated with surfing the web, according to a new report from Russia-based global cyber-security firm Kaspersky Lab.
1/3rd users in India attacked by web-borne threats between July-September. Money is the main motivation behind a cyber-attack as per report.
- India has been elected as a member of the ITU Council
India has been elected as a member of the International Telecommunications Union-ITU Council for another four-year term from 2019 to 2022.
India secured 165 votes and ranked third among the 13 countries elected to the council from the Asia-Australasia region, and eighth among the 48 countries elected to the council globally.
- Sunil Arora Appointed as New Chief Election Commissioner
Sunil Arora has been appointed as the new Chief Election Commissioner of India. He succeeds Om Prakash Rawat. Sunil Arora had been the information and broadcasting secretary, and the secretary in the Ministry of Skill Development and Entrepreneurship.
- India’s economic growth to slow to 7.3 per cent in 2019: Moody’s
The Indian economy will expand 7.4 per cent in 2018, but the growth will slow down to 7.3 per cent in the next year as domestic demand tapers on higher borrowing cost due to rising interest rates
Moody’s said the greatest downside risk to India’s growth prospects stem from concerns about its financial sector. “The impact of higher global oil prices compounded by sharp rupee depreciation raises the cost of households’ consumption basket, and will weigh on households’ capacity for other expenditures. Borrowing costs have already risen because of tightening monetary policy,” it said.
- India votes against UNGA draft resolution on use of death penalty
India has voted against a UN General Assembly draft resolution on the use of death penalty, saying it goes against the statutory law of the country where an execution is carried out in the “rarest of rare” cases.
First Secretary in India’s Permanent Mission to the UN Paulomi Tripathi, giving the country’s explanation of vote, said the resolution sought to promote a moratorium on executions with the aim of abolishing death penalty.
- Signature Bridge Inaugurated by CM of Delhi, Arvind Kejriwal
India's first asymmetrical cable-stayed bridge (over river Yamuna) and with pylon height of 165 meters inaugurated by CM of Delhi, The Signature Bridge is double the height of Qutub Minar.
The bridge will reduce the commuting time between northeast areas and the inner city from 45 minutes to just 10 minutes, combating pollution and saving fuel.
- ‘Train 18'- India's 1st Engineless Train
India's first engine-less train, "Train 18", developed by the Integral Coach Factory (ICF) and seen as a successor to the prestigious Shatabdi Express, was unveiled by Railway Board Chairman
Ashwani Lohani. The Rs. 100-crore train is the first long-distance train, without a separate locomotive (engine). The fully air-conditioned Train 18, driven by a self-propulsion module.
- IBM Acquires Red Hat an open source Software & Technology
IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued around $34 billion. The acquisition is by far IBM's largest deal ever, and the third-biggest in the history of U.S. tech.
The open source, enterprise software maker will become a unit of IBM's Hybrid Cloud division, with Red Hat CEO Jim Whitehurst joining IBM's senior management team and reporting to CEO Ginni Rometty
- Tesla names Robyn Denholm as chair to replace Elon Musk
Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role. Robyn Denholm, the finance chief of Australian telecoms firm Telstra, takes over from the electric car maker's founder, who remains chief executive. The settlement requires Tesla to install an independent chairman, among other penalties. Mr Musk agreed to step down as chair to resolve claims of fraud brought by US financial regulators.
- Adobe CEO in Fortune Business Person of the Year list
Indian-American Shantanu Narayen, the Chief Executive Officer (CEO) of Adobe, has been named by Fortune in its 2018 Business Person of the Year list. The list ranks 20 business executives “delivering on the bottom line and beyond”.
Narayen, 56, ranks 12th on the list, which has been topped by CEO of insurance company Progressive Tricia Griffith and includes CEO of graphics chipmaker Nvidia, Jensen Huang, French conglomerate Kering CEO Francois-Henri Pinault, Amazon CEO Jeff Bezos and PayPal CEO Dan Schulman.
- Core sector growth slows down to 4-month low of 4.3 per cent in September
8 Core sectors include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity. Core sector growth rate was 4,7% in the month of September 2017
- China to import raw sugar from India
China has finally agreed to buy raw sugar from India following months of negotiations and the export is expected to begin early next year, according to the Commerce Ministry.“A contract for exporting 15,000 tonnes of raw sugar has been entered to by the Indian Sugar Mills Association (ISMA) and COFCO, a Government of China’s run public sector company,” an official release
- India's unemployment rate jumps to 2-year high of 6.9%
Unemployment rate in the country rose to 6.9 percent in October -- the highest in two years -- according to a report by Centre for Monitoring Indian Economy (CMIE).Only 39.5 percent of the adult population was employed in October, the report suggests. As of October 2018, 29.5 million unemployed individuals were actively looking for jobs. This was more than the 21.6 million unemployed individuals looking for jobs in during the same period last year.
- Definition of kilogram changed after 130 years
The world's standard definition of the kilogram, the ampere, the kelvin and the mole has been changed, after representatives from 60 countries voted to redefine the International System of Units (SI) for weight, current, temperature and amount of chemical substance.
It will be replaced by the Planck constant -- the fundamental constant of quantum physics.
October 2018: Current & Business GK for Interview
- Noble Prizes for 2018
The Nobel Prize in Chemistry 2018 was awarded with one half to Frances H. Arnold "for the directed evolution of enzymes" and the other half jointly to George P. Smith and Sir Gregory P. Winter "for the phage display of peptides and antibodies."
The Nobel Prize in Economic Sciences 2018 was awarded to William D. Nordhaus "for integrating climate change into long-run macroeconomic analysis" and Paul M. Romer "for integrating technological innovations into long-run macroeconomic analysis." Their findings have significantly broadened the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge.
The Nobel Peace Prize 2018 was awarded to Denis Mukwege and Nadia Murad "for their efforts to end the use of sexual violence as a weapon of war and armed conflict.
The Nobel Prize in Physiology or Medicine 2018 was awarded to James P. Allison and Tasuku Honjo "for their discovery of cancer therapy by inhibition of negative immune regulation." The Laureates has shown how different strategies for inhibiting the brakes on the immune system can be used in the treatment of cancer.
- Human Capital Index 2018 Released by World Bank
Overall, India was ranked 115 among 157 countries. Poor investment in human capital puts a threat on productivity of the India’s future workforce, the World Bank said revealing that India’s human capital productivity will be half of what Singapore citizens will achieve. Below is the list of top 5 countries & India
2. South Korea
Best Global Brands 2018 Rankings
For consecutive 6 years Apple & Google hold top Positions. Apple’s brand value grew by 16% to $214,480 m & Google’s by 10% to $155,506 m.
Theme of 2018 report is “Activating Brave”
Global Competitiveness Index 2018 Releases by World Economic Forum
India ranks 58th out of 140 economies on Global Competitiveness Index 2018. India registered the largest gain of any country in the G20. According to the report, India is a remarkable example of a country that has been able to accelerate on the pathway to innovation due to the quality of its research institutions. Below is the list of top 5 countries & India
1. United States
- India was ranked 103rd among 119 countries on the ‘Global Hunger Index 2018'
According to the report, prepared by Welthungerhilfe and Concern Worldwide, India is among the 45 countries that have "serious levels of hunger". India is ranked below many neighbouring countries, including China (25th spot), Nepal (72), Myanmar (68), Sri Lanka (67) and Bangladesh (86). Pakistan is placed at the 106th position.
- India Has Most Outward Migrants In 2017: ADB Report
The report shows that with 17 million, India had the most outward migrants in 2017, followed by China with 10 million, and Bangladesh with 7.5 million. The report also reveals that the outward migration in Asia has outpaced inward migration. According to the report, one in three migrants (33.4 percent) worldwide comes from Asia.
- IMF Projects India's Growth At 7.3% In 2018 and 7.4% In 2019
As per the IMF's latest report, India is projected to grow at 7.3% in 2018 and 7.4% in 2019. The report predicted India to regain the tag of the world's fastest-growing major economy this year, crossing China with more than 0.7 percentage points. In China, growth is projected to moderate from 6.9 per cent in 2017 to 6.6% in 2018 and 6.2 % in 2019. In 2017, India had clocked a 6.7% growth rate.
- Monetary Policy: RBI Leaves Repo Rate Unchanged At 6.5%
The Reserve Bank of India has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5%. Consequently, the reverse repo rate under the LAF remains at 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%. The decision of the MPC is consistent with the stance of calibrated tightening of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth. Growth projection for 2018-19 has also been retained at 7.4%.
- Gita Gopinath appointed as IMF Chief Economist
Gita Gopinath has been named as Chief Economist of the International Monetary Fund (IMF), becoming the second Indian to be appointed to the position. Gopinath would succeed Maurice (Maury) Obstfeld, who is to retire at the end of 2018.
- Justice Ranjan Gogoi sworn in as 46th Chief Justice of India
Justice Ranjan Gogoi will succeed Justice Dipak Misra who demitted office on October 2.
Justice Gogoi had hit the headlines in January by holding a controversial press conference along with three other senior-most judges of the top court in which they virtually revolted against the then CJI over certain contentious issues.
- India moves up 8 spots in Visa’s e-payments adoption ranking
India secured 28th position in the ‘2018 Government e-Payments Adoption Ranking(GEAR)’, a ranking system which quantifies a country’s progress towards digital transformation. This is up from 36th rank in 2011, reinforcing the country’s progress towards digital transformation. This is the third edition of the study after those in 2007 and 2011
- Paytm Payments Bank Appoints Satish K Gupta As MD & CEO
Paytm Payments Bank has appointed veteran banker Satish Kumar Gupta as its new Managing Director and CEO. The post was lying vacant after Renu Satti stepped down in July 2018. Satti now heads the company's new retail business. The veteran banker had earlier served as the Deputy General Manager at State Bank of India where he worked for over three decades.
- Rakesh Sharma Takes Charge As MD & CEO Of IDBI Bank
State-run IDBI Bank has announced that Rakesh Sharma has taken charge as the managing director and chief executive officer of the bank. He has replaced B Sriram. Mr Sharma has been appointed for the period of six months. He retired from Canara Bank as the MD and CEO after serving for a period of three years.
- Reliance Health Insurance Gets Final Approval From IRDAI
Reliance Health Insurance, a wholly-owned subsidiary of Reliance Capital, has received final approval from IRDAI for its new health insurance business. The new company will commence operations by the December quarter of 2018. Reliance Capital has designated Ravi Viswanath, who has over two decades of global experience in health insurance, as CEO of the new health insurance company.
- Microsoft sign Pacts with NITI Aayog
Indian government’s premier think tank, NITI Aayog, inked agreement with Microsoft to deploy Artificial Intelligence (AI) technologies to address challenges in agriculture and healthcare and promote adoption of local language computing.
- India to be 3rd largest aviation Market by 2024
According to a report by the International Air Transport Association (IATA), India will be the third largest aviation market by 2024. According to the IATA, China would displace the United States as the world’s largest aviation market in the mid-2020s. Aviation market is defined in terms of traffic to, from and within a country, as per the grouping.
- Chanda Kochhar quits as ICICI Bank CEO
Sandeep Bakhshi has replaced her as MD and CEO. Since June, Bakhshi was acting as the de-facto CEO after Kochhar was sent on leave, pending an independent probe into allegations of conflict of interest in awarding loans to the Videocon group.