-First Bank in India was Bank of Hindusthan established in 1779.GK
-Banking Concept was brought in India by – European.
-First Presidency Bank of India – Bank of Calcutta established in 1806 and immediately became Bank of Bengal
-The first bank of India with limited liability to be managed by Indian board was Oudh Commercial Bank. It was established in 1881.
-The first bank purely managed by Indian was Punjab National Bank. PNB was established in Lahore in 1895.
-First Indian Commercial Bank wholly managed and owned by Indian was – Central Bank of India, established in 1911.
-India’s first truly Swadeshi bank was – Central bank of India
-First Indian bank to open a branch outside India is – Bank of India
-First Indian bank to open a branch in Continental Europe at Paris is Bank of India
-Which of the following was the first public sector commercial bank which had launched a mutual fund? – State Bank of India
-Which of the following bank became the first in India to be fully computerized? – Bank of India
-First cooperative bank in Asia? – Anyonya Co-operative Bank.
-First bank in India to facilitate payment of Income tax using ATM recently? – Union Bank of India
-First Bank in India to launch Talking ATMs for differently-able person? – Union Bank of India
Central Bank of India: Reserve Bank of India (RBI)
• Emblem of RBI: Panther and Palm Tree.
• Reserve Bank of India Act-1934 passed in the year 1934.
• Reserve Bank of India (RBI) established on 1 April 1935.
• (RBI) established on the recommendation of Hilton-Young Commission.
• Hilton-Young Commission submitted its report in the year 1926.
• Initially RBI was constructed as a Private Share holders’ bank with fully paid-up capital of Rs 5 Crores(500000*100Rs).
• RBI was nationalize in the year of 1st January,1949.
• RBI is the sole authority in India to issue Bank notes in India.
• RBI can issue currency notes as much as the country requires, provided it has to make a security deposit of Rs. 200 crores, out of which Rs. 115 crores must be in gold and Rs. 85 crores must be FOREX Reserves.
• Initially the headquarter of RBI was in Calcutta (Now Kolkata) but in 1937 it was permanently moved to Mumbai, Maharashtra.
• The Reserve Bank of India has 4 Zonal offices,22 regional offices, most of them in state capitals and 9 Sub-offices
• The Executive head of RBI is known as Governor.
• RBI is controlled by the Central Board of Directors.
• Indian government appoints the directors for four years tenure. The central board of directors comprises Governor, four deputy governor and fifteen directors.
• The bank has also two training colleges for its officers, viz. Reserve Bank Staff College at Chennai and College of Agricultural Banking at Pune.
• RBI is a member bank of the Asian Clearing Union.
• Chintaman Dwarkanath Deshmukh (C D Deshmukh) was the governor of RBI at the Time of nationalization of RBI in 1949.
• C.D Deshmukh, then Governor of RBI, represented India at the Bretton Woods negotiations in 1944.
• 1st women Deputy Governor of RBI -K.J.Udeshi.
• RBI is not a Commercial Bank.
• RBI prints currency in 15 Languages.
• RBI is a member of IMF (International Monetary Fund).
• Its financial year is from 1 July to 30 June.
• The first governor of RBI was Sir Osborne Smith (1935-1937). The first Indian governor was CD Deshmukh (1943-1949). Manmohan Singh is the only Prime Minister who also was a Governor of RBI. Current Governor is Raghuram Rajan
important points :
State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established.SBI
In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were merged to form the Imperial Bank of India.In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, which made 8 state banks associates of SBI.In 1963, State Bank of Bikaner and State Bank of Jaipur were merged to form State Bank of Bikaner & Jaipur (SBBJ).In 13 September 2008, State Bank of Saurashtra merged with the parent bank – SBI.In 2010, State Bank of Indore was merged with SBI.
As of 28 June 2013, the bank had 180 overseas offices spread over 34 countries. It has branches of the parent in Moscow, Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town. It also has an ADB in Boston, USA.The Canadian subsidiary, State Bank of India (Canada) also dates to 1982. It has seven branches, four in the Toronto area and three in the Vancouver area.
SBI group consists of SBI and 5 associate banks.
1. State Bank of Bikaner & Jaipur
2. State Bank of Hyderabad
3. State Bank of Mysore
4. State Bank of Patiala
5. State Bank of Travancore
present CEO- Arundathi battacharya
sbi open 15000 branch in chennai