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 fully Indian bank is

  1. State Bank of India

  2. State Bank of Patiala

  3. Oriental Bank of Commerce

  4. Punjab National Bank
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Punjab National Bank (PNB), founded in 1895, was the first fully Indian-owned bank. It was established in Lahore (now Pakistan) and managed entirely by Indian nationals without British involvement. SBI originated from Bank of Bengal (1806) which had British connections. Oriental Bank of Commerce and State Bank of Patiala came later.

Multiple choice

Which of the following is/are not correctly matched?

(a) ICICI established in - 1994
(b) Reserve bank established in - 1935 (c) Canara bank established as - First all women bank (d) IDBI - 1964

  1. (c), (a), (d)

  2. (b), (c), (d)

  3. (d)

  4. (c)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

ICICI was established in 1994, making (a) correct. Reserve Bank of India was indeed established in 1935, so (b) is accurate. IDBI was established in 1964, making (d) correct. However, (c) is incorrect because Canara Bank was not the first all-women bank - that distinction belongs to Bharatiya Mahila Bank launched in 2013. Option D correctly identifies (c) as the only incorrect match.

Multiple choice

SVC Bank inaugurated its first branch at ______ at the august hands of M A Alagappan, Executive Chairman, Murugappa Group, by virtue of which it is the first amongst the banks in the co-operative sector to open its branch in the southern state.

  1. Chennai

  2. Bangalore

  3. Mysore

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

SVC Bank expanded its presence by opening its first branch in Chennai, Tamil Nadu, marking it as the first cooperative sector bank to establish operations in this southern state.

Multiple choice

_______ received the National Award for the Best Performing Bank in North East Region under REGP Scheme of KVIC for the year 2007-08.

  1. State Bank of India

  2. United Bank of India

  3. Allahabad Bank

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

United Bank of India was recognized for its exemplary performance under the REGP (Rural Employment Generation Programme) Scheme of KVIC (Khadi and Village Industries Commission) in the North Eastern Region during 2007-08.

Multiple choice

Punjab National Bank and BSNL jointly launched BSNL bill payment facility through _______ at Corporate Office of BSNL, New Delhi.

  1. PNB ATMs

  2. SBI ATMs

  3. ICICI ATMs

  4. e-banking
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

PNB ATMs were used for the BSNL bill payment facility launched jointly by Punjab National Bank and BSNL at BSNL's Corporate Office in New Delhi. This collaboration enabled customers to pay their BSNL bills conveniently through PNB's widespread ATM network. The facility was part of broader banking-telecom sector partnerships for customer convenience.

Multiple choice

Which of the following banks unveiled the book on “Banking Principles & Operations“?

  1. ICICI Bank

  2. HDFC Bank

  3. HSBC Bank

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

ICICI Bank unveiled the book 'Banking Principles & Operations' as part of its knowledge-sharing initiatives. The book was authored by M.N. Gopinath and focuses on various aspects of banking operations, serving as an educational resource for students aspiring to join the banking sector. ICICI has been active in publishing such educational materials.

Multiple choice

Which of the following banks had sanctioned credit limits of Rs.14.35 Crores to the city based nonprofit NGO Annapurna Pariwar for lending to urban poor from slums of Pune and Mumbai?

  1. Indian Overseas Bank

  2. United Bank of India

  3. Allahabad Bank

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

Indian Overseas Bank sanctioned credit limits of Rs.14.35 Crores to Annapurna Pariwar, an NGO working for urban poor in Pune and Mumbai slums. This financial support was aimed at enabling micro-lending activities to help marginalized communities access credit for livelihood activities. IOB was actively involved in such financial inclusion initiatives.

Multiple choice

Chanda Kochhar is the MD and CEO of which of these companies?

  1. Deutsche Bank

  2. ICICI Bank

  3. Barclays

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

Chanda Kochhar served as the MD and CEO of ICICI Bank from 2009 to 2018, leading India's largest private sector bank. Under her leadership, ICICI expanded significantly and became known for its digital banking initiatives. She was not associated with Deutsche Bank, Barclays, or Bank of America.

Multiple choice

Which bank launched a mutual fund called Magnum Contra?

  1. Central Bank of India

  2. State Bank of India

  3. Punjab National Bank

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

Central Bank of India launched the Magnum Contra mutual fund, which is a contrarian investment strategy fund that typically invests in underperforming sectors or stocks with the expectation that they will recover. Contra funds work against market sentiment.