Banking & Financial Awareness GK Questions with Answers – Page 10

The first presidency of the New Development Bank went to India, and K. V. Kamath, formerly of ICICI Bank, took charge when the bank began work in 2015, the presidency afterwards rotating among the member countries.

The sixth BRICS summit was held at Fortaleza in July 2014, and the agreement establishing the New Development Bank was signed there, along with the treaty for the Contingent Reserve Arrangement.

The New Development Bank works from Shanghai in China, a decision taken when the bank was being set up, in return for which the first regional centre was given to another member.

The bank opened for business in January 2016 at Beijing, after its articles of agreement had been signed and ratified by the founding members.

The AIIB was proposed by China in 2013 and began operations in January 2016 with its headquarters at Beijing, and China holds the largest share in its capital.

The ADB was established in 1966 to lend for development in Asia and the Pacific, and India was one of its founding members, which is a fact papers like to pair with the year.

The Asian Development Bank was established in 1966 and has worked from Manila since then, with field offices in its member countries including India.

The committee was created in 1974 by the central bank governors of the Group of Ten countries, sits at the Bank for International Settlements in Basel, and drafts the standards that national regulators then adopt for their own banks.

The BIS was founded in 1930, which makes it the oldest international financial institution in the world, older than the Bretton Woods institutions by fourteen years.

The Bank for International Settlements was set up in 1930 at Basel in Switzerland and still works from there, which is why the capital standards drafted under its roof are called the Basel norms.

The Name You Can Bank Upon is the line by which Punjab National Bank is best known, and the bank is headquartered at New Delhi.

SIDBI, the Small Industries Development Bank of India, is headquartered at Lucknow in Uttar Pradesh, and it is the one major development financial institution not based in Mumbai, which is precisely why it is asked so often.

The State Bank of India, the largest bank in the country, is known by the line The Banker to Every Indian, and it has also used Pure Banking, Nothing Else.

Bank of Maharashtra is headquartered at Pune, and its tagline is One Family One Bank.

Both Indian Bank, whose tagline is Your Own Bank, and Indian Overseas Bank, whose tagline is Good People to Grow With, are headquartered at Chennai, and their similar names make them easy to keep together.

Canara Bank has its head office at Bengaluru in Karnataka, and its tagline is Together We Can.

UCO Bank is headquartered at Kolkata and is the public sector bank most often asked about in connection with that city; its tagline is Honours Your Trust.

Punjab National Bank is headquartered at New Delhi, as is Punjab and Sind Bank, so both the public sector banks with Punjab in their names are based in the capital rather than in the state.

India's International Bank is the line by which Bank of Baroda is best known, and it reflects the bank's long presence in overseas markets.

Bank of Baroda has its head office at Vadodara in Gujarat, the city formerly called Baroda, from which the bank takes its name, and that link between the name and the city is the simplest way to remember the fact.