Kerala PSC - Notes on Banks and Financial Institutions


1.  The Central Bank in India is the Reserve Bank of India (RBI)
2.  RBI came into existence on 1st April 1935.
3.  RBI was formed on the recommendation of Hilton Yang Commission in 1926.
4.  RBI is the also known as Banker's Bank
5.  RBI was nationalised on January 1, 1949.
6.  The head office of RBI is in Mumbai
7.  First Governor of RBI Sir Osbourne Arkall Smith
8.  First Indian RBI Governor CD Deshmuk
9.  RBI has the sole right to issue currency notes of various denominations except one rupee note.
10. RBI maintains gold and foreign exchange reserves.
11. As Banker's Bank, RBI holds a part of the cash reserves of the banks, lends them funds for short periods and provides them with centralised clearing and cheap and quick remittance facilities.
12. RBI regulates the issue of notes above 1 rupees
13. The one rupee notes are issued by the Ministry of Finance.
14. Punjab National Bank was established in the year 1894.
15. The largest public sector bank in Indian State Bank of India.
16. Imperial Bank of India was formed in the year 1921 (by amalgamation of three Presidency banks - Bank of Bengal, Bank of Bombay and Bank of Madras).
17. Imperial Bank was nationalised in 1955 and renamed as State Bank of India.
18. State Bank of India is the Biggest commercial bank in the Public Sector of India.
19. SBI has the largest number of branches (more than 13000) in the world.
20. First bank nationalization took place on July 19, 1969. 14 large commercial banks were nationalised during the Prime Ministership of Indira Gandhi.
21. On April 15, 1980 six banks were nationalized by Indira Gandhi.
22. The New Bank of India was merged with the Punjab National Bank in September 1993.
23. ICICI bank was formed in 1994
24. SIDBI was established in 1990.
25. EXIM (Export Import Bank of India) was set up on January 1, 1982.
26. IDBI was established in 1964.
27. IRBI (Industrial Reconstruction Bank of India) was established in 1971.
28. 14 banks having deposits more than Rs 50 crore nationalized in July 1969
29. 6 banks having deposits more than Rs 200 crore nationalized in April 1980.
30. Securities and Exchange Board of India (SEBI) was established in April, 1988 and given statutory status by an Act of Parliament in 1992.
31. Oldest Stock Exchange in India Bombay Stock Exchange (Oldest of Asia)
32. Bombay Stock Exchange was established in 1875.
33. India Security Press is located at Nasik Road, Maharashtra.
34. Security Printing Press is located at Hoshangabad, which was established in 1982.
35. Currency Notes Press is located at Nasik Road in Maharashtra.
36. Postal and Judicial stamps : Indian Securit Press, Nasik, Maharashtra.
37. Bank note press : Devas (Madhya Pradesh), Mysore and Salboni
38. Minting of gold medals : Kolkata and Noida
39. Security printing press : Hyderabad
40. Coins are minted at Mumbai, Kolkata, Hyderabad and Noida.
41. All coins and one rupee notes are issued by the Ministry of Finance.
42. Once rupee note bears the signature of Finance Secretary, Government of India.
43. National Stock Exchange (NSE) was established in the year 1992
44. GIC (General Insurance Corporation) was set up in the year : 1973
45. LIC (Life Insurance Corporation) was established in the year : 1956
46. HUDCO (Housing and Urban Development Finance Corporation) was established in the year 1970.
47. HDFC (Housing Development Finance Corporation) was set up in the year 1977.
48. NABARD (National Bank for Agriculture and Rural Development) was established in the year 1982.
49. NABARD was established on the recommendation of Shivraman Committee.
50. NABARD headquarters is at Mumbai
51. SIDBI (Small Industries Development Bank of India) was setup in the year 1990
52. IDBI (Industries Development Bank of India) was set up in the year 1964
53. Industrial Finance Corporation of India (IFCI) was established in the year : 1948
54. State Bank of India has the highest number of ATMs in India
55. Life Insurance Corporation (LIC) was established on September 1, 1956.
56. LIC Headquarters is located at Mumbai
57. Insurance Regulatory and Development Authority (IRDA) was constituted on April 19, 2000.
58. Who will settle the grievances of customers of banks : Ombudsman
Kerala PSC - Notes on Banks and Financial Institutions Kerala PSC - Notes on Banks and Financial Institutions Reviewed by Kerala PSC GK on 4:58 PM Rating: 5

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