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Banking License Quiz

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Questions and Answers

What is a requirement for a financial institution to legally carry on a banking business?

Operating in multiple countries

Being affiliated with insurance companies

Obtaining a banking license (correct)

Having a large customer base

What words are financial institutions not permitted to contain in their name without an appropriate license?

International

Bank (correct)

National

Investment

What type of license prohibits any local business activities for a financial institution?

Non-banking financial institution license

International banking license (correct)

Full banking license

Offshore banking license

What is a non-banking financial institution (NBFI)?

An institution with fewer regulations than one with a full banking license (B) Signup and view all the answers

Who typically issues licenses to applicant corporations that meet banking requirements?

National banking regulator (D) Signup and view all the answers

When did modern banking in India originate?

Mid-18th century (D) Signup and view all the answers

Which bank is the largest and oldest bank still in existence in India?

State Bank of India (SBI) (A) Signup and view all the answers

What were the names of the three banks founded by the presidency government in India?

Bank of Calcutta, Bank of Bombay, Bank of Madras (A) Signup and view all the answers

What was the name of the bank formed by the merger of the three presidency banks in 1921?

Imperial Bank of India (D) Signup and view all the answers

When was the Reserve Bank of India established?

1935 (D) Signup and view all the answers