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

Which one of the following does not belong to USA?

  1. Citi Group

  2. JP Morgan Chase

  3. Merrill Lynch

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

Barclays Bank is a British multinational bank headquartered in London, UK, not an American company. Citi Group, JP Morgan Chase, and Merrill Lynch are all major US financial institutions. Merrill Lynch was acquired by Bank of America in 2008 but remains a US-originated firm.

Multiple choice

Which of the following institutions is not an affiliate of the Reserve Bank of India?

  1. Deposit Insurance Corporation

  2. IDBI

  3. Unit Trust of India

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

Unit Trust of India (UTI) was established in 1964 under the Unit Trust of India Act and was not directly affiliated with the Reserve Bank of India. The Deposit Insurance Corporation and Credit Guarantee Corporation (DICGC) are RBI subsidiaries, while IDBI was initially under RBI before becoming autonomous.

Multiple choice

The financial institution which provides loans mostly in foreign currency is

  1. IDBI

  2. IFCI

  3. ICICI

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

ICICI was established as a specialized financial institution to provide foreign currency loans and promote international financing. While IDBI (A) and IFCI (B) were development financial institutions, ICICI had a specific mandate for foreign currency operations. SFC (D) refers to State Financial Corporations which focused on state-level financing.

Multiple choice

Which of the following is a private sector bank?

  1. Indian Bank

  2. UTI Bank Ltd.

  3. PNB

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

UTI Bank Ltd. (now Axis Bank) was a private sector bank. Indian Bank, PNB (Punjab National Bank), and Syndicate Bank were all nationalized banks and are part of the public sector banking system.

Multiple choice

The no. of private banks operative in private sector in India is

  1. 30

  2. 31

  3. 32

  4. 33
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

This question appears to be from an older time period. The number of private sector banks has changed significantly since liberalization in the 1990s, with many new private banks receiving licenses. The answer of 31 may have been correct at a specific point in time but is not current.

Multiple choice

New Bank of India was merged into

  1. Punjab and Sind Bank

  2. Punjab National Bank

  3. Bank of Baroda

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

New Bank of India was merged with Punjab National Bank (PNB) in 1993 as part of banking sector consolidation. This merger was part of financial sector reforms to create stronger banking entities.

Multiple choice

Which of the following banks bought investment bank Merrill Lynch?

  1. Bank of America

  2. Axis Bank

  3. State Bank of India

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

Bank of America acquired Merrill Lynch in September 2008 during the financial crisis. The deal was worth approximately $50 billion and was brokered by the federal government to prevent Merrill Lynch's collapse. This was one of the major events of the 2008 financial crisis.