Important Facts About Indian Banking: Interesting Facts About Banks to Know

Some Important Facts About Banking Sector in India:

Indian Banking system has a vast structure. Each bank based on their specialty has a unique features and questions are deigned based on it like the bank having largest capital or the private bank having the largest capital and the oldest bank operating in India or the bank which is the head of these banks etc. candidates will have to study these features and uniqueness of the banks for the examinations and they will improve their banking knowledge. Banking knowledge is an indispensable part of the banking awareness and questions will definitely be asked from this section. Those candidates who want to prepare well for the banking awareness must have knowledge of these basic uniqueness which is associated with each bank. Here we have updated few some important facts about Banks in India:Important Facts About Banks

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   Important Facts about Banks in India:

S. No Question On The Facts Related To  Bank Answers
1 The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission
2 Reserve Bank of India started its operations on 1-Apr-35
3 Reserve Bank was nationalized in 1949
4 The first Governor of Reserve Bank of India was Sir Osborne Smith
5 The first Indian Governor of Reserve Bank of India was Shri CD Deshmukh
6 The two Governors who have later held the post of the finance minister of India are Shri CD Deshmukh &  Dr. Manmohan Singh
7 The maximum number of Deputy Governors RBI can have 4
8 Number of regional offices of RBI 28
9 RBI can issue notes up to the value of Rs. 10,000/-
10 As per Indian Coinage Act 1 Re coins can be used to pay/settle Any amount
11 As per Indian Coinage Act 0.50 ps coins can be used to pay/settle Amount not exceeding Rs. 10.
12 As per Indian Coinage Act coins worth less than 0.50 ps can be used to pay/settle Amount not exceeding Re. 1.(no longer applicable)
13 The logo of RBI has A palm tree and a tiger
14 The H.O. of the RBI is in Mumbai
15 The maximum amount for which customer’s deposit is insured in a bank Rs. 1,00,000
16 The oldest Joint Stock Bank of India Allahabad Bank
17 The bank founded by Freedom Fighter Dr. Bhogaraju Pattabhi Sitaramayya Andhra Bank
18 First bank to open a branch outside India Bank of India, London, 1946
19 The first bank to be given an ISO 9002 certificate for one of its branches Canara Bank
20 The Postal Dept has issued a commemorative stamp in the name of this bank celebrating 100 years in 2011 Central Bank of India
21 First Indian Bank to be wholly owned by Indians Central Bank of India
22 The bank formed on the efforts of Lala Lajpat Rai Punjab National Bank
23 The only merger of nationalised banks took place between Punjab National Bank and New Bank of India in 1993
24 The bank whose brand equity is “Pygmy Deposit Scheme” Syndicate Bank
25 The bank which was conceived by Shri GD Birla UCO Bank
26 The bank which was inaugurated by Mahatma Gandhi in 1919 Union Bank of India
27 The largest among nationalised banks Punjab National Bank
28 The bank established in the year 1913 as Bank of Mysore Ltd. at the instance of the banking committee headed by the great Engineer-Statesman, Late Dr. Sir M.Visvesvaraya. State Bank of Mysore
29 The State with largest number of commercial bank offices Uttar Pradesh (13167 as on 31.03.2013)
30 The bank which sponsors the annual Mumbai Marathon held in the month of January Standard Chartered

Hope you enjoyed in knowing important facts about Indian banks

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Updated: December 7, 2016 — 5:02 pm

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