Some Important Facts Related to bank
Banking: Fact
- The first bank in the country was started at
Calcutta in 1770 bank of Hindustan.
- The bank of Bengal, the Bank of Bombay, the
bank of madras these all presidency banks were merged and in 1921 Imperial
bank was established
- On 1st July 1955, the Imperial bank was
partially nationalized and it was named as state bank of India. At present, a state bank is the largest commercial bank in the country.
- State bank of India has completed 200 years
of banking business in India.
- Denmark’s Saxo bank enters into the Indian
market to replicate its global strategy of providing international
stocks& financial instruments to clients who are exploring investment
opportunities in the overseas market.
- UCO bank introduces pre-funded Cheques
series of Rs. 1000, 5000, 10000.
- Bank of Rajasthan merge with ICICI bank 13
Aug. 2010.
- Punjab national bank was the first Indian
bank. It established in 1894.
- Reserve bank of India established on 1st
April 1935 under the act 1934 and it is a central bank of India. Its head office is in Mumbai earlier in Calcutta. RBI nationalized on 1st
January 1949. Raghuram Rajan 23rd governor of RBI.
- On 19th July 1969, 14 large commercial
banks nationalized then on 15th April 1980, 6 more banks were
nationalized as the new bank of India merge with PNB so total nationalized the bank is 19.
- Those banks whose names are included in the second schedule of reserve bank act 1934 are called Commercial banks.
- The prime lending rate is replaced by
base rate 1st July 2010.
- USB (Ultra small branches) in all villages
under the financial inclusion scheme by March 31, 2012.
- Regional rural banks were established in
1975 are working in all states of the country except in Sikkim & Goa.
At present 67 RRBs are working in India.
- The nation largest lender state bank of
India has commenced operations in Qatar by opening a branch in Qatar
Financial Centre, Doha.
- RBI of India (amended) bill 2005 has
been approved by Lok Sabha on 17th May 2006. This bill amends the RBI
act for providing flexibility to the central bank in India fixing CRR
& SLR.
- SBI launches Parivartan scheme to provide
better training to its staff including high officials, clerks, and peons.
- SBI Commercial & international bank ltd
(SBICI BANK LTD) has been finally merged with the state bank of India in
July 2011. SBICI two branches in Mumbai.
- SBI merges its Mauritius based subsidiary,
Indian ocean International bank IOIB with SBI international (Mauritius) in
the African island nation.
- The money market is that organization that
provides short term credit. The capital market is to provide long term
capital.
- Government share in SBI reduced to 51% from
59% to mobilize Rs. 12000 Crores.
- Finance Asia award to Kotak bank (7th time).
- The imperial bank established in 1921.
- SIDBI established on 2nd April 1990, its
headquarter is at Lucknow.
- The unit trust of India (UTI) was established
in 1964 with the objective of mobilizing the small savings of the people for their suitable & profitable investment. It has now been bifurcated
in UTI – 1 and UTI- 2.
- UTI bank ltd has been renamed as AXIS bank
ltd. This was from 30th July 2007.
- Export-import of India (EXIM) is the apex
institutions for financing exports and imports. It was established on 1st
Jan 1982.
- UTI started the first bank in the private sector on 2nd April 1994. Its head office is at Ahmedabad. It renamed as
AXIS bank.
- SBI becomes the first registrar for unique
identification authority of India (UDAI) now renamed as Aadhaar for
collecting both demographic and biometric information of bank a/c holders.
- Mobile number portability (MNP) launched on
Nov 25, 2010, in Haryana, now all over the country from Jan 20, 2011.
- Chandigarh 10th largest e-commerce hub in India.
- India oil corporations (IOC) has completed
50 years of its establishment on 30th June 2009. (Golden jubilee).
- The first bank with limited liability managed
by the Indian board was Oudh commercial bank in 1881.
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