Facts About Banking System in India

Banking Awareness

FACTS ABOUT BANKING SYSTEM IN INDIA

Here are some important facts About Banking system in India which are very popular and very important for competitive exams. These are some Important Facts about Banking System in India.

• First Bank established in India:-Bank of Hindustan in 1770
• Second bank established in India:-General Bank of India in 1786
• The first bank in India given an ISO Certification:- Canara Bank
• The first bank in Northern India getting ISO 9002certification for their selected branches:- Punjab and Sind Bank
• The first Indian bank to have been started solely with Indian capital:- Punjab National Bank 
• India's oldest, largest and most successful commercial bank, offering the widest possible range of domestic, international and NRI products and services, through its vast network in India and overseas:- State Bank of India
• The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act:- South Indian Bank 
• Bank which started as private shareholders Banks, mostly Europeans and shareholder:- Imperial Bank of India
• India's second largest private sector bank and is now the largest scheduled commercial bank in India:- The Federal Bank Limited
• The First Indian Bank to open a branch outside India in London in  1946 and the first to open a branch in continental Europe in Paris in 1974:- Bank Of India
• The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years.:-Allahabad Bank 
• The First Indian Commercial Bank which was wholly owned and managed by Indians:- Central Bank of India 
• Oldest Bank in India originated in the Bank of Calcutta in June 1806 whic was still in existence:- State Bank of India 
• First Governor of RBI:- Mr. Osborne Smith
• First Indian Governor of RBI:- Mr. CD Deshmukh
• First bank to introduce savings acoount in India:- Presidency Bank in 1833
• First bank to introduce cheque system in India:-Bengal Bank in 1833
• First bank to introduce internet banking:- ICICI Bank 
• First bank to introduce mutual Fund:- State Bank of India 
• First Bank to introduce credit Card in India:- Central Bank of India
• Which cards are Known as Plastic money:- Credit Cards
• Open Market operations are cariied out by:- RBI
• Capital market Regulator is :-SEBI
• Largest Commercial Bank in India:- State Bank of India
• The International Bank for Reconstruction and Development  is:- World Bank 
• India's first Financial Archive has been set up at:- Kolkata
• The Bank which has launched Mobile Bank Accounts in association with Vodafon's M-paisa:- HDFC Bank
• Minimum Money transfer llimit through RTGS:-2 Lakhs 
• Maximum Money transfer limit through RTGS:- No Limit 
• Minimum and Maximum Money transfer limit through NEFT:- No limit 
• MABARD was established in:- July, 1982
• Largest Public sector Bank in India:- SBI
• Largest Private sector Bank in India:-ICICI Bank
• First RRB named Prathama Grameen Bank was started by:- Syndicate Bank 
• First Bank to introduce ATM in India:- HSBC
• FDI limit for new banks:- 49%
• FDI limit for Private Banks:- 74%

These Important facts About Banking will definitely help you in Preparation for Banking Exams.