Banking Institutions and History

The Presidency Bank of Bengal is historically credited with introducing the savings bank facility in India in 1833.

HSBC (Hongkong and Shanghai Banking Corporation) introduced the first 24-hour ATM in India in 1987 in Mumbai.

In 2008, EPFO appointed these four fund managers to handle its incremental funds: HSBC, Reliance Capital, ICICI Pru, and SBI. Though the question refers to them as private fund houses, SBI is actually a public sector bank. The other options include banks like UCO and IDBI that were not part of this selection.

State Bank of India (SBI) is the largest public sector bank in India by assets, deposits, and branches.

State Bank of India (SBI) provided the financing for Tata Power's acquisition of Senoko Power in Singapore.

EXIM Bank (Export-Import Bank of India) provides financial assistance to exporters and importers, not specifically to commercial institutions as a general category. The other pairs correctly identify the primary functions of those institutions.

NABARD stands for National Bank for Agriculture and Rural Development. It is a development bank focused on rural development.

The first co-operative societies in India were established under the Co-operative Credit Societies Act of 1904, primarily to provide credit to farmers.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the standard network used by banks globally for secure financial messaging.

State Bank of India (SBI) was the first Indian bank to open a branch in China, specifically in Shanghai in 2006.

Indian Overseas Bank is a public sector bank, whereas ICICI, HDFC, and the former UTI Bank (now Axis Bank) are private sector banks.

Land development banks are cooperative institutions that provide long-term credit to farmers for land improvement and development.