Which was the first bank to introduce the cheque system in India?
Answer: A
Correct answer: Bengal Bank
The Bank of Bengal introduced the cheque system in India. A cheque is an order on the bank to pay, and its usefulness depends on the bank’s standing - which is why the presidency banks, with government backing, were the ones able to establish it.
Please log in or register to report this question.
Which was the first Indian bank to introduce internet banking?
Answer: B
Correct answer: ICICI Bank
ICICI Bank launched internet banking in India in 1996, under the name Infinity. Take-up was slow at first, since few customers had internet access, but it became the model for the branchless banking that followed.
Please log in or register to report this question.
Which bank launched Mobile Bank Accounts in association with Vodafone's m-paisa?
Answer: B
Correct answer: HDFC Bank
HDFC Bank partnered Vodafone in m-paisa, which let customers open a basic bank account and send, receive and withdraw money through a mobile phone. It was aimed at people without a branch within reach, and used the telecom company’s retail network as banking correspondents.
Please log in or register to report this question.
What is the full form of TIBOR?
Answer: A
Correct answer: Tokyo Interbank Offered Rate
TIBOR is the rate at which banks lend to one another in the Tokyo money market - the Japanese counterpart of LIBOR in London and MIBOR in Mumbai. Such benchmark rates are used as the reference for floating-rate loans and derivatives.
Please log in or register to report this question.
In banking, NPA means
Answer: C
Correct answer: Non Performing Asset
An NPA is a loan on which interest or principal has been overdue for more than 90 days, so it has stopped generating income for the bank. Classifying it as such forces the bank to make provisions against it, which is why the level of NPAs is such a closely watched measure of banking health.
Please log in or register to report this question.
Oudh Commercial Bank was founded in _______.
Answer: D
Correct answer: 1881
Oudh Commercial Bank, founded at Faizabad in 1881, was the first bank in India with wholly Indian management. It failed in 1958, but it marks the beginning of Indian-run commercial banking.
Please log in or register to report this question.
Which was the first Indian bank to obtain ISO certification?
Answer: A
Correct answer: Canara Bank
Canara Bank was the first Indian bank to obtain ISO certification, for one of its branches - a formal audit that its service processes met the ISO 9002 standard.
Please log in or register to report this question.
Which of the following is one of the measures of economic growth of a country?
Answer: C
Correct answer: Gross Domestic Product of the nation.
Economic growth is the increase in a country’s output, so it is measured by the rise in GDP - usually in real terms, that is after removing the effect of price changes. Foreign investment and stock market listings may accompany growth but do not measure it.
Please log in or register to report this question.
Whose signature does Indian currency note bear?
Answer: C
Correct answer: RBI Governor
Indian banknotes of every denomination except the rupee note are issued by the Reserve Bank and bear the Governor’s signature, together with the promise to pay the bearer. The one-rupee note, issued by the government, carries the Finance Secretary’s.
Please log in or register to report this question.
Which was the first Indian bank to open a branch outside India?
Answer: C
Correct answer: Bank of India
Bank of India opened the first overseas branch of an Indian bank, at London in 1946. Its founding in 1906 and early move abroad reflected the trade financing needs of Indian business.
Please log in or register to report this question.
