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

Which of the following is not a Public Sector Bank?

  1. Centurion Bank

  2. Andhra Bank

  3. Corporation Bank

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

Centurion Bank was a private sector bank (later merged with HDFC Bank in 2008) and was never nationalized. Andhra Bank, Corporation Bank, and Central Bank of India are all public sector banks that were nationalized and remain government-owned. Public sector banks are those where the majority stake (51% or more) is held by the government.

Multiple choice

Which of the following pairs does not match?

  1. A corresponding new bank established under Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 - State Bank

  2. A principal coop bank in a distt. - Central Coop Bank

  3. A coop society, the primary objective of which is to finance its members – coop credit society

  4. Bank which promotes an RRB - sponsor bank
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

"Corresponding new bank" means a corresponding new bank constituted under Sec 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. Thus, it is under Banking Regulation Act, 1949.

Multiple choice

Which of the following pairs is incorrectly matched?

  1. Nationalised banks - Banking Companies Act, 1969

  2. State Bank of India - SBI Act, 1955

  3. State Bank Associate Banks - State Bank (Subsidiary Banks) Act, 1955

  4. RRBs - RRB Act, 1976
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Banks that were nationalised in 1969 and 1980 draw power from Banking Companies (Acquisition and transfer of Undertakings) Act of 1969 and 1980. They are known as nationalised banks.

Multiple choice

Where is the headquarters of the Reserve Bank of India?

  1. Mumbai

  2. Delhi

  3. Chennai

  4. Kolkata
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Reserve Bank of India's headquarters is located in Mumbai at the Central Office building on Shahid Bhagat Singh Marg. Mumbai has been the RBI's headquarters since its establishment in 1935. Delhi, Chennai, and Kolkata have regional offices but not the head office.

Multiple choice

Which of the following banks operates in relation to the small industries?

  1. SIDBI

  2. IDBI

  3. ICICI

  4. NABARD
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

SIDBI (Small Industries Development Bank of India) was established specifically to promote and finance small-scale industries. IDBI (now a universal bank), ICICI (private sector), and NABARD (agriculture-focused) serve different sectors. SIDBI is the dedicated institution for small industries.

Multiple choice

Which bank had planned to set up $500 million offshore fund?

  1. Axis

  2. HDFC

  3. ICICI

  4. Karur Vyasya Bank
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Axis Bank had announced plans to establish a $500 million offshore fund to tap international investment opportunities. This was part of the bank's strategy to expand its global presence and offer diversified investment products.

Multiple choice

Which of the following is not a financial institution?

  1. IDBI

  2. ICICI

  3. FICCI

  4. HDFC

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

FICCI is not a financial institution. The FICCI (Federation of Indian Chambers of Commerce and Industry) is an association of business organisations in India.