General Knowledge Questions and Answers about Banking Sector
General Knowledge Questions and Answers
about Banking Sector
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The first bank of
India is Bank of Hindustan
established in 1770.
Bank of Bengal (1806), Bank of Bombay (1840) and the Bank of
Madras (1843) were called Presidency Banks.
The State Bank of
India was formed by the merger of three
Presidency banks.
SBI is considered
the oldest functional bank of India.
The first purely Indian
bank was the Punjab National Bank
(1894) at Lahore.
Head Quarter of Reserve bank of India in Mumbai, also known as the Central
Bank of the country.
Reserve bank of
India was established on Apr 1, 1935 with a capital of Rs. 5 crore.
Reserve bank of India was nationalized
on Jan 1, 1949.
The Governor is the Chairman of the board and Chief
Executive of Reserve Bank of India.
Reserve Bank of India has four Deputy Governors and one
Government official.
Reserve Bank of India has 14 Directors in their administration.
Sir Smith was the
Ist Governor of Reserve Bank of
India (1935-37).
CD Deshmukh was
the Ist Indian Governor of Reserve Bank of India(1948-49).
Reserve Bank of India is also known as the
Banker`s Bank.
Reserve Bank of India can print notes up to Rs 10,000 as per RBI Act, 1934.
The Reserve Bank of India buys and sells the foreign currencies and also protects the country's foreign
exchange funds.
Imperial Bank (
combination of Bank of Bengal, Bank of
Bombay and Bank of Madras) was established in Jan 1921.
In 1955, Imperial
Bank`s name was changed to State Bank of India (SBI).
STATE BANK OF INDIA is the largest banking system in India.
SBI has 24,000 branches globally.
Mumbai is the Head
Quarter of State Bank of India .
In 2013, Bharatiya
Mahila Bank a subsidiary bank of State Bank of India was formed.
The State Bank of India uses the blue keyhole logo.
General Knowledge Questions and Answers for SI, Railways
The 14 major
nationalized bank of India are the Indian Bank , Bank of Maharashtra ,Central
Bank of India, Dena Bank ,Bank of India, Punjab National Bank, Canara Bank ,United
Commercial Bank, Syndicate Bank ,Indian Overseas Bank, Bank of Baroda, United
Bank of India, Union Bank of India, Allahabad Bank.
Presently India has 11
nationalized banks.
Regional Rural banks
were set up in 1975.
Objective of Regional
rural bank is to develop the rural economy .
National Bank of
Agriculture and Rural Development (NABARD) was established on Nov 5, 1982.(Head
quarter-Mumbai, India).
The first Regional
rural bank was Prathama Bank (Head
quarter is in Moradabad).
The largest Regional rural bank is Kerala Gramin Bank (Head quarter is in Malappuram).
National Housing Bank
(NHB): National Housing Bank was established in July 1988 is a wholly owned subsidiary of RBI (Head quarter –New Delhi,India).
Export-Import Bank of
India (EXIM) was set-up on Jan 1,
1982 to operate in the international market (Head quarter- Mumbai,India).
Small Industries
Development Bank of India (SIDBI) was established in 1990, promotes small scale sector (Head quarter-Lucknow, India).
State bank of India
is the largest bank with regards to
market capitalization ,offices, revenue
generation, ATMs and employees.
Industrial
Development Bank of India ( IDBI Bank) was established in 1964 ,Head quarter is in
Mumbai, India .
Industrial Credit and
Investment Corporation Of India Bank ( ICICI Bank) was established in 1955 , Head quarter is in Vadodara,
India (Chairman –Girish Chandra chaturvedi).
Bank for
International Settlements (BIS) is an organization of central banks,
popularly known as Basel,
established on May 17, 1930.
The headquarters
of BIS is in Basel, Switzerland .
Airtel Payments Bank
was the first to be launched in Mar 2017.
Credit control refers
to control over the quantity and value of credit in the country.
Bank Rate also
known as Discount Rate (RBI extends credit to commercial banks).
Cash Reserve Ratio
is required to keep a certain percentage
of its total deposits with the RBI in cash .
Statutory Liquidity
Ratio is that percentage of its
total deposits which a commercial bank has to maintain with itself at any given
point of time in the form of liquid assets.
The RBI lends short-term money to the banks against securities
is called Repo rate.
Reverse repo rate at which banks deposit their surplus short-term funds with RBI against securities.
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A cheque payable to a particular person is called Order Cheque .
Government security
means a security created and issued by the Government main purpose is raising public loan and to borrow
money from the market.
Short term government
securities are Treasury bills( less
than 1 year- 91 day, 182 day and 364 day).
A crossed cheque
cannot encash at bank counter by
the holder is called Crossed cheque.
Long term government
securities are known as Government Bonds
(maturity period of 5,10,15 years).
Negotiable
Instruments is a documents used for payment in business transactions and
are transferred freely from one person to another (i.e. Bill of Exchange,
Promissory Note, Cheque),1881.
A promissory note
is an instrument in writing containing
an unconditional undertaking, signed by the maker, to pay a certain sum of
money to, or to the order of certain person.
Bearer cheque is refers
a cheque which is payable to any person
who presents it for payment at the bank counter.
An expired Cheque
is called as a stale Cheque.
Banker's Cheque
is issued by the bank on behalf of customer containing an order to pay a
certain sum of money to a specified
person .
Current bank account
(Demand Deposit Account) is opened
by businessmen who have a higher degree of regular transactions with the bank.
General Knowledge Questions and Answers for kids
Saving accounts
are opened to encourage the people to save money and collect their savings.
Fixed deposit account
is opened for a particular fixed period by depositing particular amount .
A Deposits which can be 'withdrawn on demand' are called Demand Deposits.
REAL TIME GROSS
SETTLEMENT (RTGS) is a fastest system where transfer of money takes place
from one bank to another bank in time.
NATIONAL ELECTRONIC
FUNDS TRANSFER (NEFT) system is a nation-wide electronically transfer funds from any bank branch to any
individual, firm or corporate branch in the country.
UPI is an instant
real-time payment system developed by NPCI
facilitating inter bank
transactions.
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