General Knowledge – Banking Awareness

Banking Awareness

Introduction:

Banking System in India or the Indian Banking System can notify into three distinct phases:

Important & Latest Banking Awareness 2020

• Early Banking History
• Reserve Bank of India Structure & Function
• Management, currency circulation & lending rates
• Monetary Policy
• Accounts of Non-Resident India
• Security Interest
• ATM’s in India
• Types of Debit & Credit Cards
• Banking Related Scheme
• Monetary Policy
• MCLR Rates
• Non-Performing Rates
• Types of Codes used in the Banking Sector
• Transfer System in India
• Banking Related Scheme
• Securities Mark in India
• Ratings of Banks
• Foreign Investments
• Rupee Denominated Bonds
• External Commerical Borrowings and Trade Credits
• Money Transfer Scheme
• Inflation-Indexed Bonds

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International Banking Organizations

• World Bank
• Asian Infrastructure Investment Bank (AIIB)
• BRICS Bank
• International Monetary Fund (IMF)
• Asian Development Bank (ADB)
• Bank of International Settlement (BIS)

Reserve Bank of India Subsidiaries

• National Housing Bank (NHB)
• National Bank for Agriculture and Rural Development (NABARD)
• Bharatiya Reserve Bank Note Mudran Private Limited
• Deposit Insurance and Credit Guarantee Corporation (DICGC)

Banks in India | Banking Awareness

• Small Finance Banks
• Regional Rural Banks
• Payment Bank
• Exim Bank of India
• Co-operative Banks
• Central Bank – Reserve Bank of India (RBI)
• State Bank of India
• Commercial Banking in India
• Export Credit Guarantee Corporation of India Ltd. (ECGC)

Banking Financing Terms

• Repo Rate
• Reverse Repo Rate
• SLR –(Statutory Liquidity Ratio)
• Retail banking
• Bitcoin
• Call money
• Notice money
• Non Performing Assets
• Money Inflation
• Retail credit operations
• Skimming
• Cash Credit
• Cheque
• Money laundering
• Direct Debit
• Bill of Exchange
• Cash Reserves Ratio
• Bank Rate
• Marginal standing facility
• Minimum Reserve System of RBI
• Banking Ombudsman
• The Balance of Trade
• A Balance of Payments
• NOSTRO Account
• VOSTRO Account
• Mutual Fund
• Negotiable Instrument
• Types of Cheque

Public Sector Undertakings Banks

• State Bank of India
• Punjab National Bank
• Bank of Baroda (BOB)

• Allahabad Bank (Soon)
• Allahabad Bank (Soon)
• Andhra Bank (Soon)
• Bank of India (Soon)
• Indian Overseas Bank (Soon)
• Oriental Bank of Commerce (Soon)
• Punjab & Sind Bank (Soon)
• Syndicate Bank (Soon)
• Union Bank of India (Soon)
• United Bank of India (Soon)
• UCO Bank (Soon)
• Vijaya Bank (Soon)
• Bank of Maharashtra (Soon)
• Canara Bank (Soon)
• Central Bank of India (Soon)
• Corporation Bank (Soon)
• Dena Bank (Soon)
• Indian Bank (Soon)

Early Phase of Indian Banks, from 1786 to 1969: 

• The first bank, namely Bank of Bombay took establishment in 1720 in Bombay.
• Later on, the Bank of Hindustan took establishment in Calcutta in 1770.
• General Bank of India took establishment in 1786.
• Bank of Hindustan is on the business till 1906.
• First Joint Stock Bank with limited liability established in India in 1881 was Oudh Commercial Bank Ltd.

East India Company established the three independently functioning banks, also known by the name of “Three Presidency Banks” – The Bank of Bengal in 1806, The Bank of Bombay in 1840, and Bank of Madras in 1843.

• These three banks were there in 1921 and they gave a new name as Imperial Bank of India.
• After Independence, in 1955, the Imperial Bank of India took the name “State Bank of India”.
• The establishment took under State Bank of India Act, 1955.
• The first bank with fully Indian management was Punjab National Bank Ltd on 19 May 1894, in Lahore (now in Pakistan).
• The number of banks in India in 1951 was the highest – 566.
• In 1960, RBI gave notice to merger the weak banks with the strong ones.
• This led to a reduction in the number of banks to 89 in 1969.
• On April 15, 1980, another six banks were nationalized and thus raising the number of nationalized banks to 20.