- First Regional Rural Bank (RRB) was Prathama Grameen Bank which was set up on 2nd October 1975 at Moradabad City (U.P.). It was sponsored by Syndicate Bank.
- MUDRA (Micro Units Development and Refinance Agency) was launched on 8 April 2015 with an initial corpus of 20,000 crore.
- Unified Payment Interface (UPI), an initiative taken by National Payment Corporation of India (NPCI), allows a customer to send money directly from the bank account through the use of virtual address and M-pin.
- Industrial Credit and Investment Corporation of India (ICICI) was the first universal bank of India as well as the first bank to be listed in New York Stock Exchange.
- Initial Public Offering (IPO) is the first time that the stock of private company is offered to the public. It could be a new, young company or an old company who wishes to be listed on an exchange and hence goes public.
- The maximum compensation a Banking Ombudsman can help a complainant to get is Rs 10 lakh.
- BIS stand for Bank for International Settlements and its Head Office is in Basel, Switzerland.
- The world’s first ATM machine was set up at Barclays bank branch near London by John Adrian Shepherd Barron.
- Slogan of Allahabad Bank is ‘A tradition of trust’.
- Punjab National Bank, Punjab and Sindh bank, Oriental Bank of Commerce and Bharatiya Mahila Bank have their Headquarters in New Delhi.
- Gilt Edge Market is the market where government securities are traded. It is low profit as well as low risk market.
- CBS stands for ‘Core Banking Solutions’. Here Core is also an acronym and stands for ‘Centralised Online Real-time Exchange.’
- All commercial banks including foreign banks functioning in India, local area banks and Regional rural banks are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation of India). Each depositor is insured upto a maximum amount of Rs 1, 00,000 for both principal and interest.
- MICR (Magnetic Ink Character Recognition) is a 9 digit numeric code printed on the bank cheques and is used to identify the location of bank branch.
- National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982 on the recommendation of Sivaraman Committee.
- Kolkata headquartered Bandhan Bank is the first bank to be set up in the eastern part of India after independence.
- If a borrower fails to make interest or principal payment for 90 days, then that loan is considered as Non-Performing Asset (NPA).
- Money market is regulated by Reserve Bank of India (RBI) while capital market is regulated by Securities and Exchange Board of India (SEBI).
- Housing Development and Finance Corporation (HDFC) became the first Indian company to issue masala bonds to raise Rs 3000 crore.
- Fixed deposit (FD) can be done for a maximum period of 10 years.
Test You Memory
Take Quiz
When was the first Regional Rural Bank established?
a. 2nd October 1976
b. 2nd October 1978
c. 2nd October 1975
d. 2nd October 1979
Which bank sponsored the Regional Rural Bank?
a. Syndicate Bank
b. Bank of India
c. State Bank of India
d. Bank of Baroda
In which year was MUDRA (Micro Units Development and Refinance Agency) launched?
a. 2013
b. 2014
c. 2015
d. 2012
Which of the following pin is used by Unified Payment Interface (UPI) customer to send money directly from the bank account?
a. A-pin
b. M-pin
c. E-pin
d. Y-pin
Which of the following was the first universal bank of India?
a. Indian Overseas Bank
b. Canara Bank
c. HDFC Bank
d. ICICI Bank
The maximum compensation a Banking Ombudsman can help a complainant to get is
a. 15 Lakh
b. 10 Lakh
c. 5 Lakh
d. 12 Lakh
Head Office of Bank for International Settlements is located in
a. Austria
b. France
c. Switzerland
d. Germany
Which of the following banks headquarter is not located in New Delhi?
a. Punjab National Bank
b. Punjab and Sindh bank
c. Oriental Bank of Commerce
d. Indian Overseas Bank
How many digits are there in MICR (Magnetic Ink Character Recognition) code printed on the bank cheques?
a. 9
b. 8
c. 12
d. 7
On which of the following committees' recommendations was National Bank for Agriculture and Rural Development (NABARD)?
a. A C Shah Committee
b. Adhyarjun Committee
c. Sivaraman Committee
d. Bhave Committee
Which bank is the first bank to be set up in the eastern part of India after independence?
a. Bank of India
b. Bandhan Bank
c. Indian Bank
d. Union Bank
Which of the following companies became the first Indian company to issue masala bonds to raise Rs 3000 crore?
a. Tata Consultancy
b. Infosys
c. Housing Development and Finance Corporation
d. Industrial Credit and Investment Corporation of India
Fixed deposit (FD) can be done for a maximum period of
a. 10 Years
b. 20 Years
c. 15 Years
d. 25 Years
