Banking & Financial Awareness GK Questions with Answers – Page 23

The Reserve Bank opened in 1935 as a shareholders' bank with privately held share capital.

It was founded in 1865 and is remembered as the oldest joint stock bank in India, a joint stock bank being one owned by shareholders rather than by a partnership of agency houses.

On 19 July 1969 the Government of India issued an ordinance taking over the fourteen largest Indian scheduled commercial banks, those whose deposits stood at ₹50 crore or more.

IMPS is an interbank money transfer service run by the National Payments Corporation of India, launched in November 2010. Its great advantage is that it works round the clock, on holidays and at night, and the money reaches the beneficiary within seconds.

Bandhan began in 2001 at Kolkata as a microfinance body serving poor women in eastern India, and its head office has stayed in that city.

The Industrial Development Bank of India has its head office in Mumbai, the capital of Maharashtra, at the IDBI Tower in Cuffe Parade.

NPCI is the umbrella organisation that runs India's retail payment and settlement systems.