Tag: history

Questions Related to history

The rate of interest at which the RBI lends to the commercial banks is called ___________.

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. SLR

  2. CRR

  3. Bank rate

  4. OMO

Show answer
Correct Option: C

Govt. of India has created a special India Micro finance Equity Fund of Rs. 100 Crores. The fund is maintained by _______.

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. RBI

  2. SIDBI

  3. NABARD

  4. SEBI

Show answer
Correct Option: B
Explanation:

Small Industrial Development Bank of India (SIDBI) is a development fiscal establishment in India, headquartered at Lucknow and having its offices all over the country. 

Its purpose is to provide refinance facilities and short term lends to industries and serves as the major financial institution in the Micro, Small and Medium Enterprises (MSME) sector. 

SIDBI also, coordinate the functions of institution occupied in similar activities. It was established on April 2, 1990, through an Act of Parliament. It is headquartered in Lucknow. SIDBI operates under the Department of Financial Services, Government of India.

Thus, the correct option is B.

The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/ describe this term?
1. It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.
2. It is an effort to increase RBI's control over commercial banks through computerization.
3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.
Select the correct answer using the code given below.

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. $1$ only

  2. $2$ and $3$ only

  3. $1$ and $3$ only

  4. $1, 2$ and $3$

Show answer
Correct Option: A

When did the first nationalization of Banks take place?

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. 1969

  2. 1966

  3. 1965

  4. 1967

Show answer
Correct Option: A
Explanation:

The government through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 and nationalized the 14 largest commercial banks on 19 July 1969. 

The present chairman of State Bank of India is ______.

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. Pratip Chaudhuri

  2. Chanda Kochhar

  3. U.K Singh

  4. None of the above

Show answer
Correct Option: D
Explanation:

D. None of the above

Rajnish Kumar is the new chairman of SBI after Arundhati Bhattacharya.

Which Bank was merged with Punjab National Bank in 1993 ?

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. New Bank of India

  2. Bank of Maharashtra

  3. Kashi Nath Bank

  4. Indus Bank

Show answer
Correct Option: A
Explanation:

Punjab National Bank acquired New Bank of India in 1993. Thereafter, no other nationalized bank in India has been merged into another bank.

How many banks were nationalised in 1969?

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. 16

  2. 14

  3. 15

  4. 20

Show answer
Correct Option: B
Explanation:

In a major process of nationalization, seven subsidiaries of the State Bank of India were nationalized via the State Bank of India (Subsidiary Banks) Act, 1959. In 1969, fourteen major private commercial banks were nationalized.

 

In Maharashtra, Academy of Development Science (ADS) has facilitated a network of NGOs for setting up _____ in different regions.

history public and private sectors growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. Milk banks

  2. Money banks

  3. Cloth banks

  4. Ration banks

  5. Grain banks

Show answer
Correct Option: E
Explanation:

Academy of Development Science located in Maharashtra is a Network of NGOs which sets up grain banks. Previously rural and tribal people used to cure diseases by plants and their products. But deforestation in present day caused damage to those plants. This is the reason why the NGO distributes grains and seeds to rural and tribal people so that they can plant such ayurvedic and rare species.

In India, how many commercial banks were nationalised in 1969?

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. 12

  2. 14

  3. 16

  4. 18

Show answer
Correct Option: B
Explanation:

B.  14

With Mrs. Indira Gandhi’s taking over as the Prime Minister of India, the Indian National Congress rallied for a state takeover of some of the major banks in the country. In what can be deemed a rather hasty move, the government promulgated an ordinance - the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 - thereby nationalizing all the 14 banks that were under consideration with effect from the midnight of 19 July 1969. As a follow-up to passing the ordinance, the Banking Companies (Acquisition and Transfer of Undertaking) Bill was taken up by the Parliament for discussion. It received a clear majority as well as the assent of the President within a month of issuing the ordinance.


Which was the first indigenous bank established in India?

history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

  1. Central Bank of India

  2. Punjab National Bank

  3. Reserve Bank of India

  4. Imperial Bank of India

Show answer
Correct Option: B
Explanation:

The first bank purely managed bu Indian was Punjab National Bank, established in Lahore in 1895. The Punjab National Bank has not only survived till date but also one of the largest banks in India.