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Facts related to Banking System In India & Finance Sector

  1. Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. Non-scheduled bank in India" means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank".
  2. The first bank in India to be given an ISO Certification -Canara Bank
  3. The first bank in Northern India to get ISO 9002 certification for their selected branches -Punjab and Sind Bank
  4. The first Indian bank to have been started solely with Indian capital -Punjab National Bank
  5. The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act -South Indian Bank
  6. India's oldest, largest and most successful commercial bank, offering the widest possible range of domestic, international and NRI products and services, through its vast network in India and overseas -State Bank of India
  7. India's second largest private sector bank and is now the largest scheduled commercial bank in India -The Federal Bank Limited
  8. Bank which started as private shareholders banks, mostly Europeans shareholders -Imperial Bank of India
  9. The first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974 -Bank of India, founded in 1906 in Mumbai
  10. The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years -Allahabad Bank
  11. The first Indian commercial bank which was wholly owned and managed by Indians -Central Bank of India
  12. Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974.
  13. Use of which notes is to be treated as terror act-Fake Notes
  14. Bank which launched Premium Credit cards Exclusively for Women recently- HDFC Bank
  15. India’s largest private lender by assets, ICICI Bank and IDBI Bank, the seventh largest public sector bank in India together launched India’s first- Credit Default Swap (CDS)
  16. Bank which recently became insolvent and RBI cancels license- Bharat Urban Co-operative Bank
  17. Private Sector Bank that recently launched a product of personal loan called ‘Swift’ – HDFC
  18. The bank, which approved $500 mn loan to help India Improve rail services-Asian Development Bank
  19. The Reserve Bank of India was nationalised in the year- 1949
  20. FDI limit in New Banks- 49% (for 1st Five years)
  21. FDI limit in Pvt. Banks- 74%.
  22. Banking Ombudsman will not entertain credit card complaints older than - 12 months
  23. The largest public sector bank – SBI
  24. India’s largest private sector bank – ICICI Bank
  25. The largest foreign bank working in India - Standard Chartered Bank
  26. Asian Development Bank was established in – December 1966
  27. The first Swadeshi Bank in India is- PNB
  28. The Structure of RBI is – 1 Governor and 4 Deputy Governors
  29. NABARD was established in – July 1982
  30. Head Office of World Bank is in- Washington D.C.
  31. Spanish bank to setup a representative office in India to help Spanish companies to tap into the fast growing Indian economy- Caixabank
  32. The increased interest rate for savings in Post office in India is- 4%
  33. Bank which become the 1st lender to raise funds in offshore Yuan in China- IDBI
  34. Bank which abolished penalty on pre-payment of housing loans recently- SBI
  35. The bank which has launched MobileBank Accounts in association with Vodafone's m-paisa- HDFC Bank
  36. Stock exchange launched operations on NSE to become the only stock exchange in India to offer facility to trade on 3 trading platforms - BSE, NSE & CSE with a single membership- Calcutta Stock Exchange
  37. The bill that was approved by the Union Cabinet to improve efficiency and increase accountability of the corporate sector- Companies Bill, 2011
  38. Who has launched the world's first Islamic finance benchmark rate- Thomson Reuters
  39. Two Japanese stock exchanges which are set to merge and create world's No.3 exchange- Tokyo Stock Exchange and Osaka Securities Exchange Co. Ltd.
  40. According to the Banking Laws Bill, 2011, which was tabled in Lok Sabha recently, under which organization merger and acquisitions (M & A) in banking sector be regulated – RBI
  41. Minimum limit on the transaction of money through RTGS is- 2lakhs
  42. Maximum limit on the transaction of money through RTGS is- No Limit
  43. Minimum & Maximum limit on the transaction of money through NEFT is- NO LIMIT
  44. The shares offered through IPO route should get listed in stock exchanges within 12 days.
  45. Major Credit rating agencies in India are CRISL, ICRA, CARE, FITCH India; and major international agencies are Standard & Poors (S & P), Moody’s and FITCH. These agencies in India are regulated by SEBI.
  46. Saving Banks Interest rates, Fixed Deposit interest rates, Loan rates etc are decided by individual banks.
  47. CRR, SLR, Rep, Reverse Repo. MSF are decided by RBI.
  48. Teaser Loan or Teaser rates are related to Home Loans where interest rates are firstly low and increases later.
  49. Tool in the hands of RBI to control the inflationary pressure in the country – Monetary Policy
    Legal Tender Money in India includes- Coins and currency notes
  50. India’s First Financial Archive has been set up at— Kolkata
  51. The International Bank for Reconstruction and Development (IBRD) is better known as- World Bank
  52. The Reserve Bank of India was established under the act- RBI Act 1934
  53. The largest commercial bank in India- State Bank of India
  54. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form- Imperial Bank of India
  55. The sister organization of the World Bank helps private activity in developing countries by financing projects with long-term capital in the form of equity and loans is- International Finance Corporation
  56. The sister organization of the World Bank provides long term loans at zero interest to the poorest developing countries - International Developmental Association The ‘Father of Economics’is - Adam Smith
  57. The first Indian Bank to introduce credit card - Central Bank of India
  58. Devaluation of a currency mean- Decrease in the external value of money
  59. Cards known as plastic money - Credit cards
  60. Open Market Operations" are carried out by- RBI
  61. Capital Market Regulator is –SEBI
  62. Final Guidelines New Banking Licence

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