BANKING SYSTEM OF INDIA
Hindustan Bank established in 1770 by Alexander and company in Calcutta under European Management.
Presidency Bank of Bombay established in 1840, Bengal 1806, Madras 1843.
Oudh Bank – 1881 (First Commercial Bank)
The present system of note issue is known as minimum reserve system.
Canara Bank is the first Indian bank got ISO (International Organization for Standardization) Certification.
PNB (Punjab National Bank) is the first Indian bank started solely with Indian capital investment.
Presidency Bank is the first bank to introduce savings account in India (in 1833)
Bengal Bank is the first bank to introduce cheque system in India (in 1833).
Central Bank of India is the first bank to introduce credit card in India.
State Bank of India (SBI) is the largest Commercial bank in India.
HDFC Bank has launched Mobile Bank Accounts in association with Vodafone’s “m-paisa”.
Minimum money transfer limit through RTGS (Real-time Gross Settlement Systems) is 2 Lakhs.
State Bank of India (SBI) is the largest Public sector bank in India and also the first bank to introduce mutual fund.
ICICI Bank is the largest Private sector bank in India and also the first bank to introduce internet banking.
Standard Chartered Bank is the largest foreign bank in India.
Bank of India is the first Indian bank to open a branch outside India (in 1946, London).
Syndicate Bank started the first RRB named Prathama Grameen Bank.
HSBC is the first Bank to introduce ATM in India. (in1987, Mumbai)
Bank of Baroda has the maximum number of overseas branches and SBI holds the second position.
FDI limit for new banks is 49%.
FDI limit for private banks is 74%.
Rural Bank was established on the recommendation of Bhandary Committee. Initially 5 rural banks were established on 2-10-1975. 1st rural bank in W.B was established at Malda.
Standard Chartered Bank is the largest foreign bank in India.
Bank of India is the first Indian bank to open a branch outside India (in 1946, London).
Syndicate Bank started the first RRB named Prathama Grameen Bank.
HSBC is the first Bank to introduce ATM in India. (in1987, Mumbai)
Bank of Baroda has the maximum number of overseas branches and SBI holds the second position.
FDI limit for new banks is 49%.
FDI limit for private banks is 74%.
Rural Bank was established on the recommendation of Bhandary Committee. Initially 5 rural banks were established on 2-10-1975. 1st rural bank in W.B was established at Malda.
IDBI is an apex institution.
IFCI, IDBI, IIBI under the capital market of India.
M. Narashima Committee submitted its report in 1998 but appointed on 1991.
IFCI, IDBI, IIBI under the capital market of India.
M. Narashima Committee submitted its report in 1998 but appointed on 1991.
SIDBI was established as the whole subsidiary of IDBI. Plastic Money – Debit Card, Credit Card.
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