Banking Awareness RRB, IBPS PO/Clerk 2015 - Facts about Banks in India

Dear Readers, Banking sector is the one of the largest sectors in India and lots of candidates are interested to get into this system for leading a sophisticated life by enjoying good allowances and perks. Every candidate who are going to enter into banking sector most know all this Facts about banking which is very important for your IBPS SBI RRB PO and Clerk examinations and also for interviews.

Here we come up with set of facts, inventions and discoveries of banks and its products you are recommended to go through this for your better performance in banking related examinations and interviews.

Be tuned to our site you will learn lot of new things here in coming days. All the best !!

Ø  First bank established in India - Bank of Hindustan in 1770

Ø  Second bank - General Bank of India, 1786

Ø  Oldest bank in India originated in the Bank of Calcutta in June 1806 which was still in existence – State Bank of India

Ø  State Bank of India merged with three banks namely Bank of Bengal, Bank of Bombay and Bank of Madras in 1921 to form the Imperial bank of India which was converted as State Bank of India

Ø  First Indian bank got ISO - Canara Bank

Ø  First India bank started solely with Indian capital investment is PNB (Punjab National Bank)

Ø  Founder of Punjab National Bank is Lala Lajpat Rai

Ø  Reserve bank of India (RBI) was instituted in 1935

Ø  First governor of RBI - Mr.Osborne Smith

Ø  First Indian Governor of RBI -  Mr. C D Deshmukh

Ø  First bank to introduce savings account in India - Presidency Bank in 1833

Ø  First bank to introduce cheque system in India - Bengal Bank in 1833

Ø  First bank to introduce internet banking - ICICI bank

Ø  First bank to introduce mutual fund - State Bank of India

Ø  First bank to introduce credit card in India - Central Bank of India

Ø  Which cards are known as plastic money – Credit Cards

Ø  Open market operations are carried out by – RBI

Ø  Capital market regulator is – SEBI

Ø  Largest Commercial bank in India – State Bank of India

Ø  The International Bank for Reconstruction and Development (IBRD) is known as – World Bank

Ø  India’s First Financial Archive has been set up at – Kolkata

Ø  CRR, SLR, Repo Rate, Reverse Repo rate are decide by -  RBI

Ø  Savings banks interest rates, fixed deposit interest rates, Loan Rates etc. are decided by - individual banks

Ø  The bank which has launched Mobile Bank Accounts in association with Vodafone’s m –paisa – HDFC Bank

Ø  Minimum money transfer limit through RTGS - 2 Lakhs

Ø  Maximum money transfer limit through RTGS - No Limit

Ø  Minimum & Maximum money transfer limit through NEFT - No Limit

Ø  NABARD was established in – July, 1982

Ø  Largest Public sector bank in India – SBI

Ø  Largest Private sector bank in India – ICICI Bank

Ø  Largest Foreign bank in India – Standard Chartered Bank

Ø  First Indian bank to open branch outside India i.e. London in 1946: Bank of India

Ø  First RRB named Prathama Grameen Bank was started by - Syndicate Bank

Ø  First Bank to introduce ATM in India - HSBC in1987, Mumbai

Ø  Bank of Baroda has the maximum number of overseas branches

Ø  SBI holds the second position with maximum number of overseas branches

Ø  Premium credit cards exclusively for women launched by – HDFC bank

Ø  Private Sector Bank that launched a product of Personal loan called “SWIFT” – HDFC

Ø  The bank which approved loan of $500mn to help India improve Rail services – Asian Development Bank

Ø  FDI limit for new banks – 49%

Ø  FDI limit for private banks - 74%