Banking Quiz – 87

BANKING QUIZ

1. Oudh Commercial Bank was founded in _______.
a) 1913
b) 1917
c) 1894
d) 1881

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Answer d) 1881. Oudh Commercial Bank, the first bank with limited liability managed by Indians, was founded in 1881.

2. Which was the second bank in India with limited liability?
a) Punjab National Bank
b) Imperial Bank of India
c) New Bank of India
d) State Bank of India

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Answer a) Punjab National Bank. Banking is over 130 years’ old in India. The first bank with limited liability managed by Indians was Oudh Commercial Bank founded in 1881. Subsequently, Punjab National Bank was established.

3. Punjab National Bank was established in ________.
a) 1881
b) 1894
c) 1913
d) 1917

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Answer b) 1894. Punjab National Bank is an Indian financial services company based in New Delhi founded in 1894

4. Which movement encouraged the formation of commercial banks?
a) Swadeshi movement
b) Quit India Movement
c) Non Cooperation Movement
d) Civil Disobedience Movement

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Answer a) Swadeshi movement. Swadeshi movement encouraged the formation of a number of commercial banks.

5. When did the banking crisis of 1913-1917 end?
a) 1917
b) 1949
c) 1955
d) 1959

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Answer b) 1949. The banking crisis of 1913-1917 and the failure of 588 banks in various states during the decade ended in 1949. It underlined the need for the regulation and coordination of commercial banks.

6. In which year was the Banking Regulation Act passed?
a) 1949
b) 1955
c) 1959
d) 1969

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Answer a) 1949. The failure of 588 banks in various states during 1913-1917 emphasized the need for the regulation and coordination of commercial banks and thus Banking Regulation Act was passed in 1949.

7. Imperial Bank of India was nationalised in _______.
a) 1949
b) 1955
c) 1959
d) 1969

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Answer b) 1955. The largest bank, the Imperial Bank of India, was nationalised in 1955.

8. Which bank was baptised as the State Bank of India?
a) New Bank of India
b) Imperial Bank of India
c) Indian Bank
d) United Bank of India

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Answer b) Imperial Bank of India.

9. Which bank was united with the Punjab National Bank in 1993?
a) Oudh Commercial Bank
b) Imperial Bank of India
c) New Bank of India
d) Punjab and Sind Bank

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Answer c) New Bank of India.

10. Which among the following is not a public sector bank?
a) Allahabad Bank
b) City Union Bank
c) UCO Bank
d) Vijaya Bank

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Answer b) City Union Bank. The City Union Bank is a private sector bank. The bank ‘The Kumbakonam Bank Limited’, as it was called then, was organized as a limited company on the 31st of October, 1904. In the beginning it was a regional bank but steadily built for itself a place in the Delta District of Thanjavur.

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