[sg_popup id=”1345″ event=”inherit”][/sg_popup]University Assistant coaching Banking and Insurance Notes

INSURANCE

First insurance company in India
Ans : Oriental Life Insurance company
Oriental Life Insurance was established at
Ans : Kolkata
Oriental Life Insurance was established in
Ans : 1818
First native insurance provider in India
Ans : The Bombay Mutual life Assurance society
The Bombay Mutual life Assurance society was established in
Ans : 1870
The year in which the Government of India issued an ordinance for nationalising the life insurance sector in India
Ans : 1956
R.N. Malhotra Commission is associated with the
Ans : Insurance sector
An autonomous body instituted to regulate and develop the insurance industry in India
Ans : Insurance Regulatory and Development Authority (IRDA)
Headquartes of IRDA
Ans : Hyderabad
IRDA was incorporated as a statutory body in
Ans : April 2000
General Insurance Corporation of India was Formed in
Ans : 1972
General Insurance Corporation was nationalized on
Ans : January 1,1973
Head quarters of General Insurance Corporation
Ans : Mumbai

LIFE INSURANCE CORPORATION (LIC)

Life Insurance Corporation was set up in
Ans : 1956
Headquarters of Life Insurance Corporation is in
Ans : Mumbai
Motto of LIC
Ans : Yogakshemam Vahamyaham (your welfare is our responsibility)
The person who founded Hindustan Insurance Society, which later became Life Insurance Corporation
Ans : Surendranath Tagore
Largest insurance group fully owned by the Government of India
Ans : LIC
Mundra Case is related to
Ans : LIC
First woman Managing Director of LIC
Ans : Usha Sangwan

BANKING

First bank in India
Ans : Bank of Hindustan
Bank of Hindustan was established in
Ans : Calcutta (1770)
Oldest public sector bank in India
Ans : Allahabad Bank

NATIONALISATION OF BANKS IN INDIA

The Prime Minister who nationalised banks in India for the first time
Ans : Indira Gandhi
First nationalisation of banks was held on
Ans : July 19,1969
Number of banks in India nationalised for the first time
Ans : 14
Total asset of a bank which was nationalised in 1969 was exceeded
Ans : 50 crores
The second phase of bank nationalisation in India was held on
Ans : April 15,1980
Number of banks nationalised in second phase
Ans : 6
The Prime Minister who nationalised Banks in India in 1980
Ans : Indira Gandhi
Total asset of a Bank which was nationalised in 1980 was exceeded
Ans : 200 crores
Allahabad Bank was established in
Ans : 1865
UTI ( Unit Trust of India) Bank is the former name of
Ans : Axis Bank
First Bank in the world
Ans : Bank of Venice
First Bank to begin permanent issue of bank notes
Ans : Bank of England
First private bank in India
Ans : City Union Bank
ATM in India : HSBC
Internet Banking : ICICI Bank
Mutual Fund : Unit Trust-of India (UTI)
Credit card facility : Central Bank of India
First bank to get ISO Certificate : Canara Bank
Savings Bank Facility : Presidency Bank
First Indian bank to open branch outside India : Bank of India (London)
Online Banking : HDFC
Cheque facility : Bengal Bank
Talking ATM : Union Bank of  India
Indian bank to get Green Bond Award of Britain :YES Bank
Greenfield Bank licence awarded by RBI :YES Bank

RESERVE BANK OF INDIA

Reserve Bank of India act was passed in
Ans : 1934
Reserve Bank of India was established on
Ans : April 1,1935
The head quarters of RBI was initially established in
Ans : Kolkata
The headquarters of RBI was permanently shifted to Mumbai in
Ans : 1937
RBI was setup on the recommendation of
Ans : Hilton Young Commission (1926)
Hilton Young Commission was also known as
Ans : Royal Commission
The Bank known as Banker’s Bank
Ans : RBI
The apex bank of India
Ans : RBI
The Central bank of India
Ans : RBI
The regulator of loans
Ans : RBI
The bank which is often referred as Mint Street
Ans : RBI
The Banking Ombudsman Scheme has been formulated by
Ans : RBI
The credit controller of India
Ans : RBI
The bank which represents India in- the IMF
Ans : RBI
RBI was nationalised on
Ans : January 1, 1949
Headquarters of RBI in Kerala
Ans : Thiruvananthapuram
The animal embossed on the emblem of Reserve Bank of India
Ans : Tiger
The tree embossed on the emblem of Reserve Bank of India
Ans : Palm Tree
First Governor of RBI
Ans : Sir Osborne Smith
First Indian to become the Governor of RBI
Ans : C.D. Deshmukh
The longest serving Governor of Reserve Bank of India
Ans : Benegal Rama Rao
Second Governor of RBI
Ans : James Taylor
First woman RBI Deputy Governor
Ans : K.J. Udeshi
The Indian Prime Minister who had served as Reserve Bank Governor
Ans : Man Mohan Singh
The only state which does not come under financial supervision of the RBI
Ans : Jammu & Kashmir

MAIN FUNCTIONS OF RBI

To work as monetary authority and implement its Monetary policy
To serve as issuer of bank notes
To Serve as banker to central and state governments
To serve as debt manager to central and state governments
To provide ways and means advances to the state governments
To Serve as banker to the banks and lender of last resort(LOLR) for them
To work as supervisor and regulator of the banking and financial system
Management of Foreign Exchange Reserves of the country
To support the government In the development of the country
The amount of funds that the banks are bound to keep with Reserve bank of India
Ans : Cash Reserve Ratio
The rate at which the banks borrow money from RBI
Ans : Repo rate
Repo rate is otherwise known as
Ans : Repurchase rate
The rate at which the RBI borrows money from Banks
Ans : Reverse Repo rate
The rate of interest which a central bank charges on the loans and advances to a commercial bank
Ans : Bank Rate
Bank rate is also referred to as
Ans : Discount rate

PUNJAB NATIONAL BANK

First Indian Bank purely managed by the Indians
Ans : Punjab National Bank
Founder of Pujab National Bank
Ans : Lala Lajpat Rai
Punjab National Bank was established in
Ans : Lahore
Punjab National Bank was founded in
Ans : 1894
Punjab National Bank began to function in
Ans : 1895
First bank in India to introduce the Voluntary Retirement Scheme (VRS)
Ans : Punjab National Bank
Head quarters of Punjab National Bank
Ans : New Delhi
Maha Bachat Scheme was started by
Ans : Punjab National Bank
New India was merged in Punjab National Bank in
Ans : 1993

STATE BANK OF INDIA (SBI)

Largest commercial bank in India
Ans : State Bank of India
Headquarters of SBI is at
Ans : Mumbai
The earlier name of SBI
Ans : Imperial Bank
The name Imperial Bank of India was suggested by
Ans : Lord John Keynes
Imperial Bank of India Act was passed in
Ans : 1920
The Imperial Bank of India was established in
Ans : 1921
The Imperial Bank of India became the State Bank of India on
Ans : July 1,1955
SBI was nationalised in
Ans : 1955
The bank which has the most number of branches in India
Ans : SBI
India’s first floating ATM was launched by
Ans : SBI
First Indian bank to open a branch in Israel
Ans : SBI
First Malayali Chairman of SBI
Ans : John Mathai
First woman Chairperson of State Bank of India
Ans : Arundhati Bhatacharya
National poet who was depicted as the customer in the advertisement of SBI
Ans : Tagore
The policy adopted by SBI to bring back its old customers
Ans : Bank Vapassi
Five Associated Banks of SBI were merged with SBI on
Ans : March 31, 2017
The Prime Minister who took initiative for the merging of Associated banks of SBI
Ans : Narendra Modi
The bank which was merged with SBI along with the 5 Associated banks of SBI
Ans : Bharatiya Mahila Bank

ASSOCIATE BANKS OF SBI

State Bank of Hyderabad
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore
State Bank of Bikaner & Jaipur
TAGLINE OF SBI
The Bank of Common Man
Pure Banking, Nothing else
With you always
The Banker to Every Indian
The Nation Bank on us

NATIONAL BANK FOR AGRICULTURAL AND RURAL DEVELOPMENT [NABARD]

NABARD was established on
Ans : 12th July 1982
Headquarters of NABARD is at
Ans : Mumbai
NABARD was established on the recommendation of
Ans : Sivaraman Committee
The apex bank in India for agriculture development
Ans : NABARD