Banking GK

Punjab National Bank was the first bank to implement intra-bank inter-city cheque truncation in India. Cheque truncation eliminates physical cheque movement by using electronic images, speeding up clearance. PNB pioneered this system for inter-city transactions within their own network. SBI and Corporation Bank adopted it later.

At the time this question was written (circa 2008-2010), there were 27 public sector banks in India. This number has since changed significantly due to bank mergers.

State Bank of Indore was a subsidiary of State Bank of India and thus classified under the public sector. The other banks mentioned were either private sector or the text is garbled.

SBI Caps Securities Ltd. is the retail stock broking arm of SBI Capital Markets Ltd. The other options are incorrect variations of the company name.

State Bank of India partnered with Tata Consultancy Services (TCS) to form the joint venture C-Edge Technologies to provide IT services to the banking sector.

Public sector banks in India include nationalized banks, the State Bank of India, and its subsidiaries. The Reserve Bank of India is the central bank and regulator, not a commercial public sector bank.

All three banks listed (Bank of Credit and Commerce International, Development Credit Bank, and UCI Bank) are not classified under public sector - they are either private sector or foreign banks.

Syndicate Bank was the first public sector bank in India to issue shares at par value (Rs. 10) in the capital market.

Bank of India was the first Indian public sector bank to open a representative office in Shenzhen, China, to facilitate trade and banking services.

State Bank of India is the first Public Sector Bank to increase its equity capital through public issue.

In the joint venture C-Edge Technologies, State Bank of India holds a 51% majority stake, while Tata Consultancy Services holds the remaining 49%.

Canara Bank was the first public sector bank in India to be included in the MasterCard ATM network, allowing its customers access to a wider range of ATMs.

Bank of Saurashtra was headquartered in Bhavnagar, Gujarat, and Bank of Baroda is headquartered in Vadodara, Gujarat. Bank of India is headquartered in Mumbai, Maharashtra.

The Ministry of Finance set a pre-condition of three consecutive years of profit for public sector banks to be granted greater managerial autonomy.

PNB Capital Services Ltd. was the first subsidiary established by the Punjab National Bank to provide merchant banking and financial services.

Indian Overseas Bank was part of the group of five public sector banks that launched the 'Cash Online' ATM network sharing service.

To qualify for managerial autonomy, the Ministry of Finance required public sector banks to maintain a Capital Adequacy Ratio (CAR) of 9% or more.

At the time of the policy, there were four public sector banks (excluding SBI) where the Government of India held 100% of the paid-up capital.

The maximum limit for foreign institutional investment (FII) in public sector banks was set at 20% of the paid-up capital.

The minimum owned capital requirement for a public sector bank to be considered for certain autonomy or licensing criteria was set at Rs. 100 crore.

For managerial autonomy, the Ministry of Finance required public sector banks to have a level of Non-Performing Assets (NPAs) below 9%.

The criteria for 'stronger banks' included a CAR of 9% or above, NPAs below 4%, net owned funds of Rs. 300 crore or more, and net profit in the last three consecutive years.

The government of India holds 100% stake in several public sector banks. All four banks listed (Central Bank of India, Indian Bank, Punjab & Sindh Bank, and United Bank of India) are public sector banks where the government holds a majority or full stake.

Punjab National Bank (PNB) opened its first overseas branch in Kabul, Afghanistan, in July 2004. This was a significant milestone as it was the first branch of any Indian bank in that country.