Banking Awareness Questions for IBPS, SBI, RRB, RBI and Clerical exams - Set 12

ANSWER: 1955

Explanation:
The Imperial Bank of India was nationalized in 1955.

The largest bank, and the oldest still in existence, is the State Bank of India (S.B.I).

It originated as the Bank of Calcutta in June 1806.
In 1809, it was renamed as the Bank of Bengal.

This was one of the three banks funded by a presidency government, the other two were the Bank of Bombay and the Bank of Madras.

The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955.

ANSWER: Non-Banking Financial Company

Explanation:
NBFC - A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business.

The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI).

Types of NBFCs in India are -

• Asset Finance Company (AFC)
• Investment Company (IC)
• Loan Company (LC)
• Infrastructure Finance Company (IFC)
• Infrastructure Debt Fund : Non- Banking Financial Company (IDF-NBFC)
• Gold Loan NBFCs in India
• Residuary Non-Banking Companies (RNBCs)

ANSWER: All the above

Explanation:
The Reserve Bank of India, as the central bank of the country, functions mainly as -

• Issuer of Currency Notes
• Banker to other Banks
• Banker to The Government
• Exchange Rate Management
• Controller of Credit
• Supervisory Function

ANSWER: USA

Explanation:
Unit banking refers to a bank that is a single, usually small bank that provides financial services to its local community.

A unit bank is independent and does not have any connecting banks - branches - in other areas.

These types of banks are more prevalent in the US.

ANSWER: 1982

Explanation:
Export–Import Bank of India (EXIM) is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981.

Organization Structure

Exim Bank is managed by a Board of Directors, which has representatives from the Government, Reserve Bank of India, Export Credit Guarantee Corporation of India, a financial institution, public sector banks, and the business community.

Functions

The Bank's functions are segmented into several operating groups -

• Corporate Banking Group
• Project Finance/Trade Finance Group
• Small and Medium Enterprise
• Export Services Group
• Export Marketing Services
• Support Services Group

EXIM - Export-Import Bank of India

Founded : 1982
Headquarter : Mumbai, India
Current Head : Yaduvendra Mathur (Chairman & MD)

ANSWER: 2013

Explanation:
Bhartiya Mahila Bank (BMB) is an Indian financial services banking company based in New Delhi, India.

Although initially reported as a bank exclusively for women, the bank allows deposits to flow from everyone, but lending will be predominantly for women.

India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania.

BMB – Bhartiya Mahila Bank

Founded : 2013; 3 years ago
Headquarter : New Delhi, India
Current Head : S. M. Swathi (ED)

Major banks that have headquarters in New Delhi are -

Punjab & Sind Bank

Founded : 24 June 1908; 108 years ago
Headquarter : New Delhi, India
Current Head : S. Jatinderbir Singh (CEO & MD)

Oriental Bank of Commerce

Founded : 19 February 1943; 73 years ago
Headquarter : New Delhi, India
Current Head : Shri Animesh Chauhan (CEO & MD)

ANSWER: Chandra Shekhar Ghosh

Explanation:
Bandhan Bank plans to open 180 new branches by March next year with an aim to build a pan India brand.

Chandra Shekhar Sharma is the MD and CEO of Bandhan Bank which is headquartered at Kolkata.

Bandhan Financial Holdings is owned by Bandhan Financial Services Limited (BFSL), the largest micro finance organization in India.

Its public shareholders include International Finance Corporation (IFC), Small Industries Development Bank of India (SIDBI), Caladium Investment Pte. Ltd. (a company managed by GIC Special Investments Private Limited), Bandhan Employees Welfare Trust, and a few individuals.

ANSWER: RBI

Explanation:
Cooperative banks serve an important role in the Indian economy, especially in rural areas.

They are registered under the Cooperative Societies Act, 1912.

They are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965.

ANSWER: Mumbai

Explanation:
National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India.

It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).

The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the ‘Retail Payment Systems’ in the country.

NPCI

Founded : 2008
Headquarter : Mumbai, India
Current Head : Balachandran M (Chairman), A P Hota (MD & CEO)

ANSWER: Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

Explanation:
SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.

Its registration with SEBI, as a Credit Rating Agency and accreditation by RBI, in September 2012 as an external credit assessment institution (ECAI) to rate bank loan ratings under Basel II guidelines has paved way for SMERA to rate/grade various instruments such as -

• IPO
• NCDs
• Commercial Papers
• Bonds
• Security Receipts
• Fixed Deposits etc.

ANSWER: Shyama Prasad Mukherji Rurban Mission

Explanation:
Shyama Prasad Mukherji Rurban Mission

Launched : ?21 February 2016
Objective : To create 300 rural clusters across the country and strengthen financial, job, and lifestyle facilities in rural areas.

Rurban Mission is a solution for both villages and cities in the country that would promote growth of villages and its residents at the place where they are.

Under the mission, the government will identify and develop 300 rural clusters with urban like facilities in the next 3 years.

ANSWER: Banking Companies (acquisition and transfer of undertakings), 1970

Explanation:
Banking Companies (acquisition and transfer of undertakings) Act, provides provisions for the acquisition and transfer of the undertakings of certain banking companies having regard to their size, resources, coverage and organization in order to control the heights of the economy and to meet progressively.

Amendment :

The Banking Companies (Acquisition And Transfer Of Undertakings) And Financial Institutions Laws (Amendment) Act, 2006.