Important Facts Virtually Indian Banking

Hi, I am Sarath Chandra. Here I am sharing about Important Facts virtually Indian Banking Sector. Happy Reading 🙂

Important Facts virtually Banks 

  • First Bank Set Up inwards Republic of Republic of India : Bank of Hindustan inwards 1770
  • First Bank that is oldest Public Bank inwards Republic of Republic of India : Allahabad Bank
  • First Bank to Introduce ATM inwards Republic of Republic of India : HSBC
  • First Bank to Introduce Cheque organisation inwards Republic of Republic of India : Bengal Bank 1784
  • First Bank to innovate Credit Card inwards Republic of Republic of India : Central Bank of India
  • First Bank to innovate Internet Banking : ICICI BANK
  • First Bank to innovate Mutual Fund : State Bank of India
  • First Bank to innovate saving Bank inwards Republic of Republic of India : Presidency banking concern inwards 1833
  • First Foreign Bank inwards Republic of Republic of India : Comptoire d’Escompte de Paris of French Republic inwards 1860
  • First Governor of RBI : Mr. Osborne Smith
  • First Republic of Republic of India banking concern Got ISO : Canara Bank
  • First Indian Bank started amongst Indian working capital missive of the alphabet /indigenous Bank of Republic of Republic of India : Punjab National Bank
  • First Indian banking concern to opened upwards branch exterior Republic of Republic of India inwards London inwards 1946 : Bank of India
  • First Indian governor of RBI : Mr. C D Deshmukh
  • First Joint Stock Bank of British Republic of Republic of India : State Bank of India
  • First Joint Stock Bank of Republic of Republic of India : Allahabad Bank
  • First national banking concern that is merged amongst Punjab National Bank : New Bank of Republic of Republic of India inwards 1993
  • First Regional Rural Bank advert Prathama Grameen Bank Was started past times : Syndicate Bank
  • The Banking Companies Act was passed inwards Feb 1949, which was afterward amended to read equally Banking Regulation Act, 1949.
  • The outset banking concern of express liability managed past times Indians was Oudh Commercial Bank founded inwards 1881.
  • The largest banking concern – Imperial Bank of Republic of Republic of India – was nationalised inwards 1955 as well as rechristened equally State Bank of Republic of Republic of India (SBI), followed past times formation of its vii Associate Banks inwards 1959.
  • First nationlised xiv banks—19 July 1969
  • Six to a greater extent than commercial banks were nationalised from xv Apr 1980
  • Based on the recommendations of the Committee ( Chairman: Shri M.Narasimham), a comprehensive reform of the banking organisation was Committee on the Financial System (CFS) was gear upwards on xiv August 1991 to )introduced inwards 1992-93.
  • Banking rule human activity was thus amended inwards 1993, which permitted the entry of novel private-sector banks inwards the Indian banking s sector.
  • The Small Industries Development Bank of Republic of Republic of India (SIDBI) was established equally a main fiscal establishment for the promotion, financing as well as evolution of industries inwards the small-scale scale sector. SIDBI started its operations from ii Apr 1990.
  • The Export Import Bank of Republic of Republic of India (EXIM Bank, gear upwards inwards 1982 nether the Export-Import Bank of Republic of Republic of India Act 1981) was established for financing, facilitating as well as promoting unusual merchandise inwards India.
  • The National Bank for Agriculture as well as Rural Development (NABARD) came into beingness on 12 July 1982.
  • The National Housing Bank (NHB), the apex establishment of housing finance inwards India, was gear upwards equally wholly owned subsidiary of the Reserve Bank of India. The banking concern started its operations from July 1988.
  • The Asian Development Bank (ADB), an international Partnership of 67 fellow member (currently) countries, was established on 22 August 1966 amongst its headquarters at Manila, Philippines.
  • The World Bank was created at the 1944Bretton Woods Conference, including the International Monetary Fund (IMF).
  • John Maynard Keynes andHarry Dexter White, the “founding fathers” of both the World Bank as well as the International Monetary Fund(IMF).
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