Banking Institutions and History

HDFC Bank was recognized as one of the world's seven best firms in the financial sector by a global business magazine in 2008. It was the only Indian company to feature in this list.

Barclays Bank installed the world's first ATM in 1967 in London. This revolutionary invention transformed banking by allowing customers to withdraw cash outside banking hours for the first time.

Correct answer is (3). 

 Correct option is 2.

State Bank of India (SBI) was the first Indian bank to enter the Fortune Global 500 list, reflecting its position as India's largest bank by assets, branches, and market share. ICICI Bank and other private banks joined later.

State Bank of India (SBI) launched the Magnum Contra Fund, which is a contra-style mutual fund that invests in underperforming stocks with potential for turnaround. Contra funds follow an investment strategy that goes against prevailing market trends.

State Bank of India (SBI) became the first Indian bank to have full-fledged operations in China. SBI opened its branch in Shanghai in 2006, marking a significant milestone in Indian banking presence in China.

HDFC Bank launched PayZapp, a comprehensive mobile payment application, as part of its digital banking initiatives. The app allows users to pay bills, recharge mobile and DTH, shop online, and send money instantly.

Union Bank of India uses the tagline 'Good people to bank with' to emphasize trust, reliability, and customer relationships. This positioning focuses on the bank's reputation and customer service rather than just financial products.

Punjab and Sind Bank (PAB) launched the 'Arogya Shree' health insurance scheme. The scheme aimed to provide health coverage to customers and their families. Public sector banks in India have introduced various such insurance products.

The Export-Import Bank of India (Exim Bank) was established in 1982 under the Export-Import Bank of India Act. It was set up to provide financial assistance for exports and imports, and to function as the principal financial institution for coordinating working of institutions engaged in financing exports and imports.

State Bank of India was selected as the sole booking agent for the Tata Nano, the world's least expensive car at the time of its launch. SBI had the widest reach across India for booking collections.

IDBI stands for Industrial Development Bank of India. It was established in 1964 as the apex development finance institution to provide financial assistance for industrial development in India. The name clearly indicates its purpose: industrial (not international or domestic), development (not domestic or inter), and bank of India.

Correct answer is (3).