Banking Financial Awareness ยท 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.

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Banking Institutions and History Questions

Multiple choice

Which committee recommended the introduction of the concept of 'Universal Banking' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

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

The Narasimham Committee, headed by Shri M. Narasimham, recommended the introduction of Universal Banking in its report submitted in 1991.

Multiple choice

What is the name of the committee that suggested reforms in the Indian banking sector in the wake of the 1991 economic crisis?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

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

The Narasimham Committee, headed by Shri M. Narasimham, was constituted in 1991 to suggest reforms in the Indian banking sector.

Multiple choice

Which committee recommended the establishment of the National Housing Bank (NHB)?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

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

The Chakravarty Committee, headed by Prof. S.S. Chakravarty, recommended the establishment of NHB in its report submitted in 1982.

Multiple choice

Which committee recommended the introduction of the concept of 'Financial Inclusion' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

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

The Rangarajan Committee, headed by Shri C. Rangarajan, recommended the introduction of Financial Inclusion in its report submitted in 2008.

Multiple choice

Which committee recommended the introduction of the concept of 'Responsible Banking' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

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

The Jalan Committee, headed by Shri Bimal Jalan, recommended the introduction of Responsible Banking in its report submitted in 2014.

Multiple choice

Which country implemented a successful microfinance program that provided financial services to the poor and unbanked?

  1. Bangladesh

  2. India

  3. Pakistan

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

Bangladesh's Grameen Bank, founded by Muhammad Yunus, pioneered microfinance by providing small loans to the poor, particularly women, enabling them to start businesses and improve their livelihoods.

Multiple choice

What is the name of the first Indian-owned bank established in India?

  1. Bank of India

  2. State Bank of India

  3. Punjab National Bank

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

Bank of India was the first Indian-owned bank established in India in 1906.

Multiple choice

Which payment interface was developed by the National Payments Corporation of India (NPCI) to facilitate digital payments?

  1. Unified Payments Interface (UPI)

  2. Bharat Interface for Money (BHIM)

  3. RuPay

  4. Aadhaar Enabled Payment System (AEPS)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Unified Payments Interface (UPI) is a real-time payment system developed by the NPCI that allows users to make instant payments between bank accounts using a mobile phone.

Multiple choice

What is the name of the Indian government's digital wallet app that enables users to make digital payments?

  1. Google Pay

  2. Paytm

  3. PhonePe

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

BHIM (Bharat Interface for Money) is the Indian government's digital wallet app that enables users to make digital payments using their bank accounts.

Multiple choice

Which Indian bank is known for its innovative digital banking services and has been recognized as a leader in Fintech?

  1. State Bank of India (SBI)

  2. HDFC Bank

  3. ICICI Bank

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

HDFC Bank is known for its innovative digital banking services and has been recognized as a leader in Fintech. It offers a range of digital banking products and services, including mobile banking, internet banking, and digital lending.

Multiple choice

Which Indian Fintech company is known for its digital lending platform and has been recognized for its innovative approach to lending?

  1. Bajaj Finserv

  2. Capital Float

  3. Lendingkart

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

Bajaj Finserv is known for its digital lending platform and has been recognized for its innovative approach to lending. It offers a range of digital lending products, including personal loans, home loans, and business loans.

Multiple choice

What is the name of India's first green bond?

  1. Yes Bank Green Bond

  2. Axis Bank Green Bond

  3. ICICI Bank Green Bond

  4. SBI Green Bond
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Yes Bank Green Bond was the first green bond issued in India, in 2015.

Multiple choice

Which Indian institution was established in 1955 to provide financial assistance to small-scale industries?

  1. National Bank for Agriculture and Rural Development (NABARD)

  2. Small Industries Development Bank of India (SIDBI)

  3. National Housing Bank (NHB)

  4. Export-Import Bank of India (EXIM Bank)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

SIDBI was established in 1955 to provide financial assistance to small-scale industries and promote entrepreneurship in India.

Multiple choice

Which Indian bank introduced the concept of microfinance in the 1980s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

Grameen Bank, founded by Muhammad Yunus in Bangladesh, introduced the concept of microfinance in the 1980s. It provides small loans to the poor and marginalized population, particularly women, to help them start or expand their businesses.

Multiple choice

What is the name of the mobile banking service launched by the Reserve Bank of India (RBI) in 2012?

  1. Unified Payments Interface (UPI)

  2. Bharat Interface for Money (BHIM)

  3. National Electronic Funds Transfer (NEFT)

  4. Real-Time Gross Settlement (RTGS)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

BHIM is a mobile banking service launched by the RBI in 2012 to promote digital payments and financial inclusion in India. It allows users to make payments using their mobile phones.