Banking History & Significance, FREE PDF and LIVE Quiz

Q1. Which bank was the first to be established on Indian soil in 1770?

Q2. Which company established the Bank of Hindustan?

Q3. In which year did the Bank of Hindustan eventually shut down its operations?

Q4. Which three banks were known as the “Presidency Banks” during British rule?

Q5. When was the Bank of Bengal established?

Q6. In which year was the Bank of Bombay established?

Q7. In which year was the Bank of Madras established?

Q8. The three Presidency Banks were merged in 1921 to form which bank?

Q9. On what date was the Imperial Bank of India formed?

Q10. Which bank is considered the largest bank in India today and was formerly the Imperial Bank of India?

Q11. When was the State Bank of India (SBI) officially nationalized and renamed?

Q12. Which commission recommended the setting up of a central bank (RBI) in India in 1926?

Q13. Before the establishment of RBI, which bank acted as an unofficial central bank?

Q14. When was the Reserve Bank of India (RBI) established?

Q15. On what date was the RBI nationalized?

Q16. Which global event in 1929 accelerated the need for a regulatory banking body like RBI in India?

Q17. During the Great Depression, global unemployment reached what level?

Q18. Which bank is described as the first bank in India “fully managed and owned by Indians”?

Q19. When was Punjab National Bank (PNB) established?

Q20. Who were the key founders of Punjab National Bank?

Q21. Which bank, established in 1865, is one of the oldest banks still in operation?

Q22. On July 19, 1969, how many major banks were nationalized by the Indian government?

Q23. What was the capital requirement (deposit size) for the 14 banks nationalized in 1969?

Q24. How many more banks were nationalized in the second phase in 1980?

Q25. What was the capital requirement for the 6 banks nationalized in 1980?

Q26. What is the main reason banks are called the “Pillars of the Economy”?

Q27. In banking terms, what are considered a bank’s “Assets”?

Q28. Why are customer deposits considered “Liabilities” for a bank?

Q29. What does the acronym “DSIB” stand for?

Q30. How many Public Sector Banks (Nationalized Banks) are there in India currently?

Q31. What is the primary source of income for a bank?

Q32. Which bank is currently the only “Public Sector Bank” that is not technically a “Nationalized Bank” because it was created by a specific Act of Parliament?

Q33. How many banks were nationalized during the second phase in April 1980?

Q34. What was the main objective behind the nationalization of banks in 1969?

Q35. Before 1969, most banks in India were primarily serving which sector?

Q36. Which of the following is NOT a Domestic Systemically Important Bank (D-SIB) in India?

Q37. D-SIBs are often referred to by what phrase due to their importance to the economy?

Q38. In the context of the 1929 Great Depression, what happened to the GDP of the United States?

Q39. Who was the Prime Minister of India during the first major wave of bank nationalization in 1969?

Q40. The “Oudh Commercial Bank,” established in 1881, was significant because:

Q41. Which bank was established in 1911 and is often called the first “Truly Swadeshi” bank because it was totally owned and managed by Indians?

Q42. What happened to the New Bank of India in 1993?

Q43. Which bank was the first to introduce ATM (Automated Teller Machine) technology in India in 1987?

Q44. Why did the Hilton Young Commission suggest the creation of the RBI?

Q45. Which of the following is an example of a “Liability” for a customer but an “Asset” for the bank?

Q46. Which city served as the initial headquarters of the RBI before it moved to Mumbai in 1937?

Q47. The Swadeshi Movement (1906) led to the birth of many Indian banks. Which of these was founded during that era?

Q48. What is the “Spread” in banking?

Q49. Which Act governs the functions and operations of the Reserve Bank of India?

Q50. When a bank provides a safe deposit locker to a customer, what is the relationship between the bank and the customer?

Q51. Which of the following banks was NOT among the 14 nationalized in 1969?

Q52. What is the significance of the “Banking Regulation Act, 1949”?

Q53. Which bank’s failure in the early 1900s highlighted the need for better regulation in the Indian banking system?

Q54. What does “Financial Intermediation” mean?

Q55. In which year did the Imperial Bank of India receive the right to manage government banking operations?

Q56. Which bank is the “Lender of Last Resort” in the Indian economy?

Q57. The term “Scheduled Bank” refers to banks listed in which schedule of the RBI Act?

Q58. Which of the following is a primary function of a bank?

Q59. Which bank was merged into the Bank of Baroda in 2019 along with Vijaya Bank?

Q60. What is the main reason why banking history is studied in Banking Awareness?