Introduction:
The Indian Banking System began in 1935, when RBI was set up as the central banking authority to regulate currency and credit. After Independence, major reforms were introduced, including the nationalization of RBI in January 1949 and commercial banks in 1969 and 1980 to expand banking services. These steps aimed to promote financial inclusion and economic development of India.
Q.1 In which year Reserve Bank of India (RBI) established?
Answer: 1st April, 1935
Q.2 Under which Act was RBI established?
Answer: Reserve Bank of India Act, 1934
Q.3 When was RBI nationalized?
Answer: 1st January, 1949
Q.4 Where is the headquarters of RBI located?
Answer: Mumbai, Maharashtra
Q.5 Who was the first Governor of RBI?
Answer: Sir Osborne Smith
Q.6 Who was the first Indian Governor of RBI?
Answer: C. D. Deshmukh
Q.7 What is the highest denomination note ever printed by the Reserve Bank of India?
Answer: ₹10,000, (In 1938 and 1954, but demonetized in 1978)
Q.8 Which bank is known as the banker’s bank in India?
Answer: Reserve Bank of India
Q.9 Which bank acts as custodian of foreign exchange?
Answer: Reserve Bank of India
Q.10 What is the full form of CRR?
Answer: Cash Reserve Ratio
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Q.11 What is the full form of SLR?
Answer: Statutory Liquidity Ratio
Q.12 Which committee recommended banking sector reforms in 1991?
Answer: Narasimham Committee
Q.13 What is the full form of NEFT?
Answer: National Electronic Funds Transfer
Q.14 What is the full form of RTGS?
Answer: Real Time Gross Settlement
Q.15 Which is the largest public sector bank in India?
Answer: State Bank of India (SBI)
Q.16 When was State Bank of India established?
Answer: 1st July, 1955
Q.17 What was the earlier name of SBI?
Answer: Imperial Bank of India
Q.18 How many public sector banks are there in India as on January 2026?
Answer: 12
Q.19 When were major banks nationalized in India?
Answer: 19 July, 1969
Q.20 How many banks were nationalized in 1969?
Answer: 14 banks
Q.21 How many banks were nationalized in 1980?
Answer: 6 banks
Q.22 Which bank controls inflation in India?
Answer: Reserve Bank of India (RBI)
Q.23 Which bank introduced ATM first in India?
Answer: HSBC (Hongkong and Shanghai Banking Corporation), Mumbai, 1987
Q.24 What is the full form of ATM?
Answer: Automated Teller Machine
Q.25 Which bank is known as India’s central bank?
Answer: Reserve Bank of India (RBI)
Q.26 What is the full form of IFSC?
Answer: Indian Financial System Code
Q.27 How many digits are there in IFSC code?
Answer: 11 digits
Q.28 Where is India’s first IFSC located?
Answer: GIFT City, Gujarat
Q.29 What is the full form of NPA?
Answer: Non-Performing Asset
Q.30 Loan becomes NPA after how many days of non-payment?
Answer: 90 days
Q.31 What is the full form of KYC?
Answer: Know Your Customer
Q.32 Which bank launched Jan Dhan Yojana accounts?
Answer: Public Sector Banks
Q.33 When was Pradhan Mantri Jan Dhan Yojana launched?
Answer: 28th August, 2014
Q.34 What is the full form of UPI?
Answer: Unified Payments Interface
Q.35 Which organization manages UPI?
Answer: NPCI
Q.36 What is the full form of NPCI?
Answer: National Payments Corporation of India
Q.37 Which bank issues currency notes in India?
Answer: Reserve Bank of India
Q.38 Which institution insures bank deposits?
Answer: DICGC
Q.39 What is the full form of IDBI Bank?
Answer: Industrial Development Bank of India
Q.40 IDBI Bank was converted into commercial bank in which year?
Answer: 2004
Q.41 What is the full form of NABARD?
Answer: National Bank for Agriculture and Rural Development
Q.42 When was NABARD established?
Answer: 12th July, 1982
Q.43 The headquarters of NABARD is located in?
Answer: Mumbai, Maharashtra
Q.44 What is the full form of SIDBI?
Answer: Small Industries Development Bank of India
Q.45 What is the full form of RRB?
Answer: Regional Rural Bank
Q.46 When was first RRB established?
Answer: 2nd October, 1975
Q.47 What is the full form of ECS?
Answer: Electronic Clearing Service
Q.48 What is the full form of MICR?
Answer: Magnetic Ink Character Recognition
Q.49 How many digits are there in MICR code?
Answer: 9 digits
Q.50 Which color ink is used in MICR code?
Answer: Black Magnetic ink
Q.51 What is the full form of IMF?
Answer: International Monetary Fund
Q.52 What is the full form of World Bank?
Answer: International Bank for Reconstruction and Development (IBRD)
Q.53 What is the full form of E-NACH?
Answer: Electronic National Automated Clearing House
Q.54 What is the full form of PSU Bank?
Answer: Public Sector Bank
Q.55 Which was the first bank established in India?
Answer: Bank of Hindustan, 1770
Q.56 Which technology is used for online banking?
Answer: Internet Banking
Q.57 What is the full form of CBS?
Answer: Core Banking Solution
Q.58 What is the full form of MSME?
Answer: Micro, Small and Medium Enterprises
Q.59 Which was the first public sector bank in India to introduce Core Banking Solution (CBS) in 2001?
Answer: Syndicate Bank
Q.60 What is the full form of PMJDY?
Answer: Pradhan Mantri Jan Dhan Yojana
Q.61 What is the full form of DICGC?
Answer: Deposit Insurance and Credit Guarantee Corporation
Q.62 What is the maximum deposit insurance amount in India?
Answer: 5 lakh Rupees
Q.63 What is the full form of CASA?
Answer: Current Account Savings Account
Q.64 What is the full form of LAF?
Answer: Liquidity Adjustment Facility
Q.65 Which rate is known as Repo Rate?
Answer: Rate at which RBI lends to banks
Q.66 Reverse Repo rate means?
Answer: Rate at which RBI borrows from banks
Q.67 What is the full form of MCLR?
Answer: Marginal Cost of Funds Based Lending Rate
Q.68 What is the full form of BSBDA?
Answer: Basic Savings Bank Deposit Account
Q.69 What is the full form of CIBIL?
Answer: Credit Information Bureau (India) Limited
Q.70 What is the full form of PAN?
Answer: Permanent Account Number
Q.71 What is the full form of NSDL?
Answer: National Securities Depository Limited
Q.72 What is the full form of CDSL?
Answer: Central Depository Services Limited
Q.73 What is the full form of ADB?
Answer: Asian Development Bank
Q.74 What is the full form of YONO?
Answer: You Only Need One
Q.75 YONO is related to which bank?
Answer: State Bank of India (SBI)
Q.76 What is the full form of E-wallet?
Answer: Electronic Wallet
Q.77 What is the full form of FDI?
Answer: Foreign Direct Investment
Q.78 In India, who is responsible for minting coins?
Answer: Government of India
Q.79 Which bank is known as banker of last resort?
Answer: Reserve Bank of India
Q.80 What is the full form of ECB?
Answer: External Commercial Borrowing
Q.81 What is the full form of SDR?
Answer: Special Drawing Rights
Q.82 What is the full form of AML?
Answer: Anti-Money Laundering
Q.83 What is the full form of FATF?
Answer: Financial Action Task Force
Q.84 Which scheme promotes financial inclusion?
Answer: Pradhan Mantri Jan Dhan Yojana (PMJDY)
Q.85 What is the full form of E-KYC?
Answer: Electronic Know Your Customer
Q.86 What is the full form of IPO?
Answer: Initial Public Offering
Q.87 What is the full form of OTP?
Answer: One Time Password
Q.88 Which Act governs cooperative banks?
Answer: Cooperative Societies Act
Q.89 Which bank introduced Cheque Truncation System?
Answer: Reserve Bank of India
Q.90 What is the full form of QR code?
Answer: Quick Response Code
Q.91 Which was India’s first Payments Bank?
Answer: Airtel Payments Bank
Q.92 What is the full form of IMPS?
Answer: Immediate Payment Service
Q.93 What is the full form of CTS?
Answer: Cheque Truncation System
Q.94 Which authority regulates NBFCs?
Answer: Reserve Bank of India
Q.95 What is the full form of NBFC?
Answer: Non-Banking Financial Company
Q.96 Which bank provides refinance to agriculture sector?
Answer: NABARD
Q.97 What is the full form of SWIFT?
Answer: Society for Worldwide Interbank Financial Telecommunication
Q.98 Bank deposits that can be withdrawn without notice are called? Answer: Demand Deposit
Q.99 What is the symbol of Reserve Bank of India?
Answer: Bengal tiger in front of a Palm tree
Q.100 In India, the Banking Regulation Act was passed in which year?
Answer: 1949
Q.101 The name of ‘UTI’ Bank was change to?
Answer: Axis Bank
Q.102 Aapka Bhala, Sabki Bhalai is the tagline of which bank?
Answer: Bandhan Bank
Q.103 Where is the headquarter of ‘Allahabad Bank’ located? Answer: Kolkata, West Bengal
Q.104 Which ruler bank has been named after a river?
Answer: Varada Grameena Bank
Q.105 ‘The Name You Can Bank Upon’ is the slogan of which bank?
Answer: Punjab National Bank (PNB)
Conclusion:
The Indian Banking System has emerged as a strong pillar of the country’s economic framework. From traditional banking practices to advanced digital and online services, it has continuously evolved to meet changing economic needs. Under the regulation of the Reserve Bank of India, banks ensure financial stability, transparency, and trust in the system.
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