Tuesday, November 27, 2012


01.       The first bank in India was set up on modern lines in 1770 by an agency house
02.       Bombay stock exchange was made functional as early as 1870
03.       The first life insurance company in the country – Oriental Life Insurance company
04.       Oriental Life insurance company was established in 1818
05.       First General (non life) Insurance company was set up in 1850
06.       There were 566 private commercial banks in the country with 4151 branches in 1951
07.       There are 32 foreign banks in the country
08.       Foreign banks have around 310 branches all over the country
09.       The Unit trust of India came into existence in 1964
10.       Export Risk Insurance Corporation was set up in July 1957
11.       Export Risk Insurance Corporation was converted as ECGC in January 1964
12.       ECGC – Export Credit Guarantee Corporation
13.       The deposit insurance corporation was set up in 1962
14.       The fourteen banks which were nationalized on 19.7.1969 were – Central Bank of India; Bank of Maharashtra; Dena Bank; Punjab National Bank; Syndicate Bank; Canara Bank; Indian Bank; Indian Overseas Bank; Bank of Baroda; Union Bank; Allahabad Bank; United Bank of India; United Commercial Bank and Bank of India
15.       Six banks were nationalized during the second stage on 15.4.1980
16.       Regional Rural Banks were set up in 1975
17.       NABARD was established in 1982
18.       NABARD – National Bank for agriculture and rural development
19.       Securities and Exchange Board of India was established in 1988
20.       Licensing for new private sector banks was issued in 1993
21.       Indian financial system is composed of three components – financial assets, financial markets and financial intermediaries or institutions
22.       Financial assets are classified into primary or direct securities and secondary or indirect securities
23.       Financial markets can be classified into money market and capital market
24.       Financial intermediaries can be classified into organized and unorganized
25.       Organized financial intermediaries can be classified into banking institutions and non banking financial institutions
26.       Primary securities are those securities which represent financial claims against real sectors
27.       Real sectors represent bills, bonds, shares, book debts etc.
28.       National savings certificates, infrastructure bonds, Indira Vikas Patras, Krishi Vikas Patra etc. are examples of financial assets
29.       Money market is the center of dealings mainly of short term character in monetary assets
30.       The capital market deals in long term funds, both debt and equity
31.       Financial instruments of the capital market are classified into the following two categories namely; government or gilt edged securities and corporate securities
32.       The main financial instruments of corporate sector are – shares, debentures, public deposits and loan from institutions
33.       Banking commission was established in 1972
34.       Capital market is a market which deals in long term funds
35.       Regional Rural Banks fall within supervisory purview of RBI
36.       IRDA is the regulatory authority for all insurance companies in the country including LIC of India
37.       IRDA has its headquarters at Hyderabad
38.       Mutual funds fall within the supervisory purview of SEBI
39.       Export and Import Bank of India does not fall within the purview of development banks
40.       State Bank of India was formulated as per SBI act 1955
41.       ICICI Bank Limited is the first Universal Bank established in the country
42.       New Bank of India merged with Punjab National Bank
43.       The central monetary authority of the country is Reserve Bank of India
44.       Scheduled commercial banks are banks which have been included in the second schedule of RBI act, 1934; registered under companies act and got licence as per Banking Regulations act 1949
45.       When the banks entertain in dealing with insurance business, it is called as bankassurance
46.       Universal banking is the roof under which various banking products are available
47.       When the repayment period of any loan is upto 36 months, the loan is called as short term loan
48.       When the repayment period is between 37 to 84 months, such loans are called as medium term loans
49.       When the repayment period is more than 84 months, they are called as long term loans
50.       In the case of Regional Rural Banks, the contribution structure between Government of India, State Government and Sponsoring banks are in the ratio of 50:15:35

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