Banking Financial Awareness ยท General Awareness

Banking Institutions and History

1,351 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 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.

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.