Insurance - Study Mode

[#871] Which was the first Indian bank started solely with Indian Capital?
Correct Answer

(A) Punjab National Bank

Explanation

Solution: Punjab National Bank was the first Indian bank started solely with Indian Capital. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present.

[#872] Which bank has started as a private shareholders bank, mostly by European shareholders?
Correct Answer

(D) Imperial Bank of India

Explanation

Solution: Imperial Bank of India has started as a private shareholders bank, mostly by European shareholders.

[#873] In which city the head office of Corporation Bank is situated?
Correct Answer

(C) Mangalore

Explanation

Solution: Corporation Bank is a public-sector banking company headquartered in Mangalore, India. The bank has a pan-Indian presence. Presently, the bank has a network of 2,600 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units across the country.

[#874] Which of the following statements are true about NABARD?
Correct Answer

It is a development bank in the sector of Regional Rural Banks in India

Explanation

Solution: All statements are true about NABARD. It is a development bank in the sector of Regional Rural Banks in India, It provides and regulates credits in the rural area, It gives assistance for the promotion and development of rural sectors, mainly agriculture and It finances rural crafts.

[#875] Which of the following statements are true about Co-operative Banks in India?
Correct Answer

(A) It has a three-tier set-up

Explanation

Solution: Co-operative Banks in India has a three-tier set-up. State coop bank is apex coop institution in state. Central or districtcoop. Bank work at district level. At lowest level coop setup is primary credit agency which works at village level.