10 Questions
What is a requirement for a financial institution to legally carry on a banking business?
Obtaining a banking license
What words are financial institutions not permitted to contain in their name without an appropriate license?
Bank
What type of license prohibits any local business activities for a financial institution?
International banking license
What is a non-banking financial institution (NBFI)?
An institution with fewer regulations than one with a full banking license
Who typically issues licenses to applicant corporations that meet banking requirements?
National banking regulator
When did modern banking in India originate?
Mid-18th century
Which bank is the largest and oldest bank still in existence in India?
State Bank of India (SBI)
What were the names of the three banks founded by the presidency government in India?
Bank of Calcutta, Bank of Bombay, Bank of Madras
What was the name of the bank formed by the merger of the three presidency banks in 1921?
Imperial Bank of India
When was the Reserve Bank of India established?
1935
Test your knowledge of banking regulations by taking this quiz on banking licenses. Explore the requirements and restrictions for financial institutions to legally operate a banking business. See how well you understand the rules around business names and licensing in the financial industry.
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