01 - History of Banking

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on History of Banking for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking and CAT / MBA entrance examinations of India

1. The Vedic word Kusidin refers to _?

[A] A banker
[B] An usurer
[C] A farmer
[D] A trader

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2. In which year, the first bank of India “Bank of Hindustan” was established?

[A] 1870
[B] 1770
[C] 1795
[D] 1880

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3. What were the correct locations of three presidency banks during British India?

[A] Calcutta, Madras, Bombay
[B] Surat, Calcutta, Madras
[C] Surat, Madras, Bombay
[D] Bombay, Calcutta, Surat

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4. Which is the oldest Joint Stock bank of India?

[A] Allahabad Bank
[B] Bank of Baroda
[C] Patiala Bank
[D] Bank of India

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5. At which place, East India Company established its first presidency bank?

[A] Madras
[B] Calcutta
[C] Bombay
[D] Surat

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6. What was the name of State Bank of India (SBI) before it was created by SBI Act?

[A] Imperial Bank of Hindustan
[B] Imperial Bank of Bengal
[C] Imperial Bank of Madras
[D] Imperial Bank of India

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7. Which was the first bank to open a branch on foreign soil?

[A] Bank of India
[B] State Bank of India
[C] Bank of Punjab
[D] Allahabad Bank

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8. Which of the following was first bank managed by Indians?

[A] Bank of Baroda
[B] Bank of India
[C] Punjab National Bank
[D] Central Bank of India

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9. In which year, Paper Currency Act was enacted by British Government of India?

[A] 1850
[B] 1861
[C] 1870
[D] 1858

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10. Which was the first bank to be wholly owned and run by Indians?

[A] Allahabad Bank
[B] Bank of Baroda
[C] Bank of India
[D] Central Bank of India

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