1. The first bank of India ?Bank of Hindustan? was established in which year?
Explanation: Bank of Hindustan was the first bank in India that was established in 1770 and it was opened at Calcutta under European nation authority. Amazingly, Bank of Hindustan was liquidated in the year 1830-32.
2. Choose the correct locations of all three presidency banks that were established during British India?
a. Calcutta, Bombay, Madras
b. Delhi, Calcutta, Madras
c. ?Madras, Bombay, Kanpur
d. Bhatinda, Calcutta, Sholapur
Answer: ?Calcutta, Bombay, Madras .
3. Which of the following is the oldest Joint Stock bank of India?
a. Patiala Bank
b. Bank of India
c. Allahabad Bank
d. Bank of Baroda
Answer: Allahabad Bank
Explanation: Joint- Stock Bank is a bank having ?multiple shareholders. Bank of Upper India was the oldest Joint Stock Bank of India which was established in 1863. However, bank failed in 1913. At present, the old records explain that Allahabad Bank is the oldest Joint Stock bank of India which is still existing and working. It is also known as India?s oldest public sector bank that was established in the year 1865. .
4. Which among the following was the first bank to open a branch on foreign soil
a. State Bank of India
b. Bank of India
c. Allahabad Bank
d. Bank of Punjab
Answer: Bank of India
Explanation: The first Indian bank to open a branch outside India was Bank of India in London in 1946. It was also the first bank to open a branch in continental Europe at Paris in 1974 .
5. What was the initial share capital of Reserve Bank of India?
a. Rs. 20 Crore
b. Rs. 10 Crore
c. Rs. 5 Crore
d. Rs. 20 Crore
Answer: Rs. 5 Crore
Explanation:?When?RBI was established, it was not a Government owned bank but was a privately held bank. It started with Rs. 5 Crore of Share Capital, amazingly divided into Rs. 100 of shares each fully paid up. The entire capital was initially owned & controlled by private shareholders. Rs. 4,97,8000 out of Rs.5 Crore was subscribed by the private shareholders while the remaining Rs. 2,20,000 out of Rs. 5 Crore was subscribed by central government.
6. The Royal Commission on Indian Currency and Finance was also known as __
a. Hartog Commission
b. Buttler Committee
c. Hilton-Young Commission
d. Muddiman Commission
Answer: Hilton-Young Commission
7. Original headquarters of RBI were located at ___?
a. New Delhi
Explanation: Kolkata had got got the first Original Headquarter. However, it was shifted to Shahid Bhagat Singh Marg of ?Bombay city in 1937 .
8. In which year, Paper Currency Act was enacted by British Government of India?
9. On which date, RBI started working?
a. January 1, 1934
b. April 1, 1934
c. January 1, 1935
d. April 1, 1935
Answer : April 1, 1935
10. In which year, Indian Rupee was devalued for the first time?
11. In which year, Regional Rural Banks started working in India?
12. The earliest evidence of Banking transactions in India comes from __
a. Maurya Era
b. Vedic Era
c. Medieval India
d. Gupta Era
Answer: ?Vedic Era
Explanation:?Vedic Civilization has many archaelogical facts revealing the origin of Banking in India where?rnapatra (??????) or rnalekhya (???????) were the major loan deeds that were prevalent during Vedic period.
? Interest rates and?usury (???????) both were prevalent during this period.
? ?Manusmriti has the account of Vedic word Kusidin which refers refers to an usurer (??????)
13. The liberalisation of Indian banking and regulation was done first on the basis of recommendations of which committee?
a. Saraiya Committee
b. Khusro Committee
c. Narasimham Committee
d. A Ashok?Committee
Answer: Narasimham Committee
Explanation:?On the basis of recommendations of Narasimham Committee, the liberalization of Indian Bank was done in 1991 with the motives of ?enhancing productivity, profitability and efficiency of banks as were suggested by the Narasimham committe.
14. In which year, the nationalization of subsidiary banks of the State Bank of India (SBI) was done?
Explanation:?The State Bank of India (subsidiary) act of 1959 led to the nationalization of the following?seven subsidiary banks of the State Bank of India (SBI):
i. State Bank of Bikaner and Jaipur (SBBJ),
ii. State Bank of Hyderabad (SBH),
iii. State Bank of Mysore (SBM),
iv. State Bank of Patiala (SBP),
v. State Bank of Indore,
vi. State Bank of Saurashtra, ?and
vii. State Bank of Travancore (SBT). .
15. What was the name of State Bank of India (SBI) before it was created by SBI Act?
a. Imperial Bank of Bengal
b. Imperial Bank of Hindustan
c. Imperial Bank of India
d. Imperial Bank of Madras
Answer: Imperial Bank of India
Explanation: The Presidency banks that included Bank of Bengal, Bank of Bombay and Bank of Madras that were amalgamated on 27 January, 1921.
– Note that under the Imperial Bank of India Act, 1920, the Imperial Bank of India was established.
– The Imperial Bank of India was nationalized after the Independence under the act of State Bank of India in 1955 and thus State Bank of India (SBI) was formed.
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