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 Indian bank introduced the concept of 'banking correspondents' in the 1990s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

SBI introduced the concept of 'banking correspondents' in the 1990s to provide banking services to remote and unbanked areas. Banking correspondents are individuals or entities authorized by banks to provide basic banking services such as cash deposits, withdrawals, and money transfers.

Multiple choice

Which Indian bank introduced the concept of 'no-frills accounts' in the 2000s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

SBI introduced the concept of 'no-frills accounts' in the 2000s to provide basic banking services to the poor and unbanked population. No-frills accounts are basic savings accounts that offer limited services and do not require a minimum balance.

Multiple choice

Which Indian bank introduced the concept of 'micro ATMs' in the 2010s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

SBI introduced the concept of 'micro ATMs' in the 2010s to provide banking services in remote and unbanked areas. Micro ATMs are small, portable devices that allow customers to withdraw cash, check their account balance, and transfer funds using their debit cards.

Multiple choice

Which Indian bank introduced the concept of 'mobile banking' in the 2000s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

HDFC Bank introduced the concept of 'mobile banking' in the 2000s. Mobile banking allows customers to access their bank accounts and perform various banking transactions using their mobile phones.

Multiple choice

Which Indian bank introduced the concept of 'internet banking' in the 1990s?

  1. State Bank of India (SBI)

  2. Punjab National Bank (PNB)

  3. Canara Bank

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

HDFC Bank introduced the concept of 'internet banking' in the 1990s. Internet banking allows customers to access their bank accounts and perform various banking transactions using the internet.

Multiple choice

Which international financial institution is known for providing loans and financial assistance to developing countries?

  1. World Bank

  2. International Monetary Fund

  3. Asian Development Bank

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The World Bank, International Monetary Fund, and Asian Development Bank are all international financial institutions that provide loans and financial assistance to developing countries.

Multiple choice

What is the address of the Banking Ombudsman's office in Mumbai?

  1. Reserve Bank of India, Central Office, Shahid Bhagat Singh Marg, Mumbai - 400 001.

  2. Reserve Bank of India, Fort, Mumbai - 400 001.

  3. Reserve Bank of India, Bandra Kurla Complex, Mumbai - 400 051.

  4. Reserve Bank of India, Nariman Point, Mumbai - 400 021.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The address of the Banking Ombudsman's office in Mumbai is Reserve Bank of India, Central Office, Shahid Bhagat Singh Marg, Mumbai - 400 001.

Multiple choice

What is the name of the token coin issued by the Reserve Bank of India to commemorate the 50th anniversary of Indian Independence?

  1. The Golden Jubilee Medal

  2. The Independence Day Medal

  3. The Republic Day Medal

  4. The Gandhi Jayanti Medal
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Golden Jubilee Medal was issued by the Reserve Bank of India to commemorate the 50th anniversary of Indian Independence.

Multiple choice

What is the name of the token coin issued by the Reserve Bank of India to commemorate the 100th anniversary of the Mahatma Gandhi's birth?

  1. The Gandhi Centenary Medal

  2. The Independence Day Medal

  3. The Republic Day Medal

  4. The Gandhi Jayanti Medal
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Gandhi Centenary Medal was issued by the Reserve Bank of India to commemorate the 100th anniversary of the Mahatma Gandhi's birth.

Multiple choice

What is the name of the token coin issued by the Reserve Bank of India to commemorate the 200th anniversary of the Battle of Plassey?

  1. The Plassey Bicentennial Medal

  2. The Independence Day Medal

  3. The Republic Day Medal

  4. The Gandhi Jayanti Medal
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Plassey Bicentennial Medal was issued by the Reserve Bank of India to commemorate the 200th anniversary of the Battle of Plassey.

Multiple choice

Who is considered the father of Indian banking?

  1. Dadabhai Naoroji

  2. Gopal Krishna Gokhale

  3. Bal Gangadhar Tilak

  4. Lala Lajpat Rai
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Dadabhai Naoroji is considered the father of Indian banking for his contributions to the establishment of the Indian National Bank in 1893.

Multiple choice

What is the name of the current series of Indian paper money?

  1. Mahatma Gandhi Series

  2. Jawaharlal Nehru Series

  3. Indira Gandhi Series

  4. Rajiv Gandhi Series
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The current series of Indian paper money is called the Mahatma Gandhi Series.

Multiple choice

What is the most common source of black money in India?

  1. Tax evasion

  2. Smuggling

  3. Hawala transactions

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

Tax evasion is the most common source of black money in India. It involves individuals or businesses intentionally failing to report all of their income to the government in order to avoid paying taxes.

Multiple choice

Which of the following is not a major public sector bank in India?

  1. State Bank of India

  2. Punjab National Bank

  3. Axis Bank

  4. Bank of Baroda
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Axis Bank is a private sector bank in India, while State Bank of India, Punjab National Bank, and Bank of Baroda are major public sector banks.

Multiple choice

Which of the following is NOT a type of regulatory sandbox for fintech companies in India?

  1. Reserve Bank Innovation Hub (RBIH)

  2. International Financial Services Centres Authority (IFSCA)

  3. National Payments Corporation of India (NPCI)

  4. All of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

NPCI is not a regulatory sandbox for fintech companies in India.