Banking Financial Awareness · General Awareness

Banking Institutions and History

1,287 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

Indusland Bank is controlled by which of the following business groups?

  1. Kotak Mahindra

  2. Hindujas

  3. Aditya Birla Group

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

IndusInd Bank was established by the Hinduja Group, a multinational business conglomerate. The bank was one of the first new-generation private banks in India and has been controlled by the Hinduja business group since its inception. Note: The question spells it as 'Indusland' but this appears to be a typo for IndusInd Bank.

Multiple choice

Which Indian bank was fined by Securities and Futures Commission, Hong Kong, for dealing in securities without permission?

  1. State Bank of India

  2. ABN Amro

  3. Punjab National Bank

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

ICICI Bank is the correct answer. In 2013, the Securities and Futures Commission (SFC) of Hong Kong fined ICICI Bank for dealing in securities without proper licensing. The SFC took action against the bank's Hong Kong branch for conducting unauthorized securities trading activities. None of the other banks listed (SBI, ABN Amro, PNB) faced this specific penalty from Hong Kong's regulator.

Multiple choice

“Pure Banking Nothing Else” is the punch line of

  1. SBI

  2. HDFC

  3. ICICI bank

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

'Pure Banking Nothing Else' is State Bank of India's (SBI) famous tagline, emphasizing its focus on core banking services without diversification into insurance or other financial products. This positioning distinguishes SBI from competitors like ICICI and HDFC who offer broader financial services.

Multiple choice

Which bank became the first bank in India to launch EMI facility on debit cards?

  1. HSBC Bank

  2. HDFC Bank

  3. Yes Bank

  4. ICICI Bank

  5. Federal Bank
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

ICICI Bank became the first bank in India to launch the EMI (Equated Monthly Installment) facility on debit cards, allowing customers to convert purchases into monthly installments. This was a significant innovation in retail banking. Option D is correct.

Multiple choice

What is the full form of HSBC?

  1. Hong Kong Shanghai Banking Corporation

  2. Harbhajan Singh Banking Corporation

  3. Hong Kong Singapore Banking Corporation

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

HSBC stands for Hong Kong and Shanghai Banking Corporation. The name reflects its origins in Hong Kong and Shanghai in 1865.

Multiple choice

After the policy of liberalisation came into effect, the first bank to be set up in the private sector under it was

  1. IndusInd Bank

  2. Citi Bank

  3. UTI Bank

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

IndusInd Bank was the first private sector bank established after the 1991 liberalization, commencing operations in 1994. UTI Bank (now Axis Bank) followed later. Citi Bank is a foreign bank that operated in India much earlier, and Bank of Punjab was also a later entrant.

Multiple choice

Which amid the following is a PSU?

  1. Bank of Rajasthan

  2. Bank of India

  3. Bank of Punjab

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

Bank of India is a Public Sector Undertaking (PSU), meaning it is owned by the government. The other options listed - Bank of Rajasthan, Bank of Punjab, and Karnataka Bank - are all private sector banks. Public sector banks are nationalized or government-owned financial institutions.