Banking Financial Awareness · General Awareness

Banking Institutions and History

1,351 Questions

Review crucial questions related to banking institutions, their histories, and recent financial events. This set covers bank mergers, taglines, and key regulatory changes by the Reserve Bank of India. It is highly relevant for aspirants of banking and insurance exams.

Bank taglinesBank mergersRBI regulationsFinancial institutions historyBanking licenses

Banking Institutions and History Questions

Multiple choice

The first Financial Institution set up in India:

  1. IDBI

  2. ICICI

  3. IRBI

  4. IFCI
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Industrial Finance Corporation of India (IFCI) was the first specialized development finance institution in India, established in 1948 under the Industrial Finance Corporation Act to provide term finance to manufacturing industries.

Multiple choice

Inter-institutional group comprises of:

  1. IDBI, IDFC, ICICI Bank

  2. SBI, LIC

  3. Bank of Baroda and Punjab National Bank

  4. All of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

 Under the leadership of IDBI, an Inter-Institutional Group was formed representing financial institutions like SFC, SIDC, SIIC and other tern lending institutions such as IFCI, ICICI and ARC

Multiple choice

The punchline 'Aapka Fayada' is associated with

  1. CNBC

  2. Zee Business Channel

  3. SBI

  4. Canara Bank
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

'Aapka Fayada' (Hindi for 'Your Benefit') is Zee Business Channel's tagline, emphasizing viewer benefit. It positions the channel as focused on delivering financial news and insights that benefit investors and viewers.

Multiple choice

In its advt. this banks claims to have over 6000 ATMs in India. Identify the bank.

  1. IOB

  2. BOB

  3. SBI

  4. OBC
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

State Bank of India (SBI) has the largest ATM network in India with over 6000 ATMs. IOB (Indian Overseas Bank), BOB (Bank of Baroda), and OBC (Oriental Bank of Commerce) are public sector banks but have fewer ATMs. SBI's extensive network makes it India's largest banking and financial services company.

Multiple choice

The punchline “Vishwas ki Parampara” is related to

  1. Allahabad Bank

  2. Indian Oil Corporation

  3. Hindustan Petroleum

  4. State Bank of India
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Allahabad Bank used the tagline 'Vishwas ki Paramvara' to emphasize its legacy of trust and reliability. The slogan reflects the bank's positioning as a trustworthy public sector banking institution.

Multiple choice

Which of the following banks has been appointed the “Income Tax Refund Banker” by the Government of India?

  1. Canara Bank

  2. SBI

  3. Bank of India

  4. J & K Bank
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

State Bank of India (SBI) has been appointed as the 'Income Tax Refund Banker' by the Government of India. This means SBI handles the processing and payment of income tax refunds to taxpayers. Canara Bank and Bank of India are other major PSU banks but not designated for this specific role.

Multiple choice

Which of the following is correct in the context of holding of share capital in an RRB?

  1. Central Govt. 50%, State Govt. 35% and sponsoring bank 15%

  2. Central Govt. 35%, State Govt. 15% and sponsoring bank 50%

  3. Central Govt. 50%, State Govt. 15% and sponsoring bank 35%

  4. Central Govt. 35%, State Govt. 50% and sponsoring bank 15%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In RRBs, 50% share shall be held by the central government, 15% by the concerned state government and 35% by the sponsor bank. The RRB Amendment Act 2014 has allowed RRBs to raise their capital from sources other than the central and state governments and sponsor banks. In such a case, the combined shareholding of the central government and the sponsor bank cannot be less than 51%. Further, if the shareholding of the state government in the RRB is reduced below 15%, the central government would need to consult the concerned state government.

Multiple choice

Your branch receives a garnishee order in the name of your customer, Mr. Trivedi, who has the following deposit accounts with your branch. Which of the following can be attached under this garnishee order?

  1. Trivedi - Executor of deceased Ashok Kumar

  2. Joint saving bank account with his wife

  3. Trivedi - Trustee of Sewa Dal Charitable Trust

  4. None of the above

  5. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Funds in the bank which are standing credited to Mr. Trivedi should be attached with the garnishee order.