BANKING FACTS

Facts related to Banking System In India & Finance Sector
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".
The first bank in India to be given an ISO Certification -Canara Bank
The first bank in Northern India to get ISO 9002 certification for their selected branches -Punjab and Sind Bank
The first Indian bank to have been started solely with Indian capital -Punjab National Bank
The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act-South Indian Bank
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
India's second largest private sector bank and is now the largest scheduled commercial bank in India -The Federal Bank Limited.
Bank which started as private shareholders banks, mostly Europeans shareholders -Imperial Bank of India
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
The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years -Allahabad Bank
The first Indian commercial bank which was wholly owned and managed by Indians -Central Bank of India
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.
Use of which notes is to be treated as terror act-Fake Notes
Bank which launched Premium Credit cards Exclusively for Women recently- HDFC Bank
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)
Bank which recently became insolvent and RBI cancels license- Bharat Urban Co-operative Bank
Private Sector Bank that recently launched a product ofpersonallo~n called 'Swift' - HDFC
The bank, which approved $500 mn loan to help India Improve rail services-Asian Development Bank
The Reserve Bank of India was nationalised in the year- 1949
FDI limit in New Banks- 49% (for 1st Five years)
FDI limit in Pvt. Banks- 74%.
Banking Ombudsman will not entertain credit card complaints older than - 12 months
The largest public sector bank - SBI
India's largest private sector bank - ICICI Bank
The largest foreign bank working in India - Standard Chartered Bank
Asian Development Bank was established in - December 1966
The first Swadeshi Bank in India is- PNB
The Structure of RBI is - 1 Governor and 4 Deputy Governors
NABARD was established in - July 1982
Head Office of World Bank is in- Washington D.C.
Spanish bank to setup a representative office in India to help Spanish companies to tap into the fast growing Indian economy- Caixabank
The increased interest rate for savings in Post office in India is- 4%
Bank which become the 1st lender to raise funds in offshore Yuan in China- lOBI
Bank which abolished penalty on pre-payment of housing loans recently- SBI
The bank which has launched MobileBank Accounts in association with Vodafone's m-paisa- HDFC Bank
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 & CSEwith a single membership- Calcutta Stock Exchange
The bill that was approved by the Union Cabinet to improve efficiency and increase accountability of the corporate sector- Companies Bill, 2011
Who has launched the world's first Islamic finance benchmark rate- Thomson Reuters
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.
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
Minimum limit on the transaction of money through RTGS is- 2lakhs
Maximum limit on the transaction of money through RTGS is- No Limit
Minimum & Maximum limit on the transaction of money through NEFT is- NO LIMIT
The shares offered through IPO route should get listed in stock exchanges within 12 days.
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.
Saving Banks Interest rates, Fixed Deposit interest rates, Loan rates etc are decided by individual banks.
CRR, SLR, Rep, Reverse Repo. MSF are deciqed by RBI.
Teaser Loan or Teaser rates are related to Home Loans where interest rates are firstly low and increases later.
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
India's First Financial Archive has been set up at- Kolkata
The International Bank for Reconstruction and Development (IBRD) is better known as- World Bank
The Reserve Bank of India was established under the act- RBI Act 1934
The largest commercial bank in India- State Bank of India
The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form- Imperial Bank of India
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
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
The first Indian Bank to introduce credit card - Central Bank of India
Devaluation of a currency mean- Decrease in the external value of money
Cards known as plastic money - Credit cards
Open Market Operations" are carried out by- RBI
Capital Market Regulator is -SEBI
Final Guidelines New Banking Licence