Banking & Financial Awareness MCQ Set-11

Find out the most important History of Banking in India MCQ for SBI PO, IBPS PO, IBPS RRB, Insurance examinations and various other competitive examinations of BFSI sector in India.

Q.1 RBI didn’t issue any currency note during the period of which of the RBI governor?

A. Shaktikanta Das

B. K. G. Ambegaonkar

C. C. D. Deskhmkh

D. H.V.R. Iyenger

Answer: B. KG. Ambegaonkar

Note: K. G. Ambegaokar was the fifth Governor of the Reserve Bank of India from 14 January 1957 to 28 February 1957.

Q.2 Which among the following is the first bank in India to introduce credit card?

A. State Bank of India

B. Central Bank of India

C. ICICI Bank

D. Axis Bank

Answer: B. Central Bank of India

Q.3 Which among the following is the oldest bank of India?

A. Bank of Hindustan

B. Bank of Bombay

C. Bank of Calcutta

D. General Bank of India

Answer: B. Bank of Bombay

Note: Bank of Bombay was established by the East India Company in 1720. It was followed by Bank of Hindustan established in 1770.

Q.4 Which among the following bank is the first Indian bank to get ISO certification?

A. State Bank of India

B. Canara Bank

C. Punjab National Bank

D. Allahabad Bank

Answer: B. Canara Bank

Note: In 1996, Canara Bank became the first Indian Bank to get ISO certification for “Total Branch Banking” for its Seshadripuram branch in Bangalore.

Q.5 Which among the following bank was started solely with Indian native’s investment?

A. Canara Bank

B. State Bank of India

C. Punjab National Bank

D. Union Bank

Answer: C. Punjab National Bank

Note: Punjab National Bank was established by Dyal Singh Majhithia and Lala Lajpat Rai in 1894.

Q.6 Who among the following was the first governor of the RBI?

A. C.D. Deshmukh

B. Osborne Smith

C. Nagendra Singh

D. None of these

Answer: Osborne Smith

Note: Sir Osborne Arkell Smith was the first Governor of the Reserve Bank of India, a post he held from 1 April 1935 to 30 June 1937.

Q.7 Who among the following Indian native became the first Governor of RBI?

A. C.D. Deshmukh

B. K.G. Ambegaonkar

C. Benegal Rama Rau

D. None of these

Answer: A. C.D. Deshmukh

Note: Sir Chintaman Dwarakanath Deshmukh was an Indian civil servant and the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities.

Q.8 Which among is the first bank in India to introduce cheque system?

A. Bengal Bank

B. Bank of Hindustan

C. Bank of Bombay

D. Canara Bank

Answer: A. Bengal Bank

Note: Savings account system in India was started by Presidency Bank, 1833. Bengal Bank, established in 1784, was the first bank to introduce cheque system.

Q.9 Which among the following bank introduced internet banking in India?

A. SBI

B. PNB

C. ICICI Bank

D. HDFC Bank

Answer: C. ICICI Bank

Note: In 1998, ICICI Bank introduced internet banking to its customers.

Q.10 Which among is the first bank to introduce mutual fund in India?

A. SBI

B. PNB

C. HDFC Bank

D. ICICI Bank

Answer: A. SBI

Note: SBI Mutual Fund was the first non-UTI Mutual Fund established in June 1987 followed by Canara bank Mutual Fund in December,1987.

List of Banking & Financial Awareness MCQ sets from GKLead.com

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