Banking Services and Operations

On July 19, 1969, the Government of India nationalized 14 major banks with deposits exceeding Rs. 50 crores. Option C is correct as this first phase of nationalization included 14 banks. The second phase in 1980 nationalized 6 more banks, making the total 20 nationalized banks.

In the second phase of bank nationalization on April 15, 1980, 6 more banks were nationalized by the Government of India. Option C is correct as these 6 banks met the criteria of having deposits over Rs. 200 crores. This brought the total number of nationalized banks to 20.

HSBC (Hongkong and Shanghai Banking Corporation) was Europe's largest bank by market capitalization in 2008-2010. Despite the financial crisis, HSBC's market value remained highest among European banks, benefiting from its strong Asian presence and conservative risk management compared to competitors. Standard Chartered is also British but smaller, while ABN Amro was acquired in 2007.

IMPS - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones. IMPS service from ICICI Bank helps you access your bank account and transfer funds instantly.

Computerization aims to eliminate manual, paper-based record-keeping in favor of digital systems. Focusing on manual records (option C) directly contradicts the purpose of computerization. Effective customer systems (option A) and bank office integration (option B) are essential components of successful digital banking transformation.

Electronic Funds Transfer (EFT) specifically refers to moving money between accounts, which can be within the same bank or across different banks. While 'place to place' and 'bank to bank' are partially correct, 'account to account' is the most precise and technically accurate definition.

There is no material alteration in the following cases: (i) Correction of a mistake (ii) To carry out the common intention of the parties (iii) An alteration made before an instrument is issued and made with the consent of the parties (iv) Crossing of instrument (v) Addition of the words “on demand” in an instrument where no time of payment is stated

In demand deposits, withdrawals are not permitted through an ATM.

Yes, this is the correct choice. PACS stands for Primary Agricultre Credit Societies. 

The main basic pillars of BASEL-III are minimum capital requirement, supervisory review process and market discipline.

By using SLR, RBI can control the credit expansion in banks.

Call Money Market is a segment of the money market where banks borrow and lend funds for extremely short periods - typically overnight or one day. Banks use this to meet reserve requirements or cover temporary cash shortfalls. It is not about making phone calls, and it's distinct from term lending markets with specified periods.

Cash on delivery is a system of paying for goods when they are delivered.

India has the largest cheque truncation facility in Asia, powered by the Cheque Truncation System (CTS) implemented by RBI. CTS eliminates physical movement of cheques, speeds up clearing cycles, and has been implemented across major Indian cities, making it the largest such system in the Asian continent.