Banking in India

• First bank in india- Bank of Hindusthan-culcutta- 1770

• First purely indian bank – punjab national bank-1894 – lala lajpat rai(book-
England’s Debt to india) naoroji -paper -' English Debt to India ’
• First insurance company in india- Oriental life insurance company – 1818
• Oldest continuing insurance company- National insurance 1906
• LIC- 1956- HQ- Mumbai
• First bank to introduce ATM- world level- Barclays Bank- London - 50th
anniversary of 27 June 2017
• First ATM in India- HSBC Bank-1987
• NABARD-National Bank for Agriculture and Rural Development 1982- HQ-
Mumbai- Harsh Kumar Bhanwala (Chairman)sivaraman committee’s
recommendation
• Largest private Sector Bank in india- ICICI
• Largest public sector Bank in india- SBI
 Related Facts
• Bbanking regulation Act 1949
• Nationalisation -first -1969 july 19- 14 banks
• Second – 1980- 6 banks
• Present 19 nationalised banks(PNB+New Bank of India)
• First Bank in Kerala- Nedungadi Bank- in 1899 at Calicut –
merge to PNB
• First Bank to get ISO certificate- Canara Bank
• First women bank- Bharatiya Mahila Bank – 2013- HQ-
New elhi
• Decimal system(coin system)- 1957
• Naasimham, verma, khan committees - banking reforms
 Reerve Bank of India
• Established- 1935 April 1- by the recommendation of
Hilton Young commission(1926)
• Nationalised on 1949 jan 1- HQ – mUmbai
• Symbol- palm& tiger
• Bankers bank, central bank of india, controller of credits
• First governor- osborne smith- first indian C D Deshmukh
- present – Urjit patel (24th)
• The only Prime minister –Held in the post- manmohan
singh
• Banking ombudsman- appointed by RBI Governor
• 1 Rupee currency signed by the finance secretary. Others
RBI Governor
 Functions
• Issue of Notes
• Banker to the Government
• Banker’s Bank
• Controller of the Credit
• Custodian of Foreign Reserves
• acts as the representative of Government
in International Monetary Fund (I.M.F.) and
represents the membership of India.
 Planning
• Repo rate is the rate Reserve Bank of India lends money to
commercial banks in the event of any shortfall of funds
• Reverse Repo rate is the rate at which RBI borrows money from
the commercial banks.
 State Bank of India
• Imperial Bank- Established – 1921
• 1955 july 1st – became SBI
• Largest pblic sector bank- largest commercial bank – HQ – mumbai
• first floating ATM – cochin
• Branch in israel
• First and first malayali – chairman- john Mathai
• First woman- Arundhati Battacharya
• Present- Rajnish Kumar
• SBI has five associate banks: State Bank of Bikaner & Jaipur, State
Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and
State Bank of Travancore.
• Bharatiya Mahila Bank merged with SBI frm 1st April 2017
 Stock exchanges in India
• Oldest stock exchange- bombay- 1875- BSE-
situated in Dalal street
• Share index known as Sensex – term sensex
coined by Deepak mohani
• Largest stock exchange- National stock exchange-
1992- HQ- mumbai- Share index known as NIFTY
• SEBI- established- 1988- ncame into force- 1992
• Regulator of share market, securities exchange,
credit rating agencies – SEBI- HQ – mumbai
• Cochin Stock exchange- 1978
• SEBI chairman- first SA Dave- present – ajay
thyagi
 Indian Currencies
1 rupee - image of an oil exploration site.
2 Rupee - India’s first satellite “Aryabhatta"
5 rupee- picture of a farmer ploughing the field
10 rupee- Images of Konark Sun Temple wheel
and clean India logo.
• 20- rupee- shows the view of "Mount Harriet
Light House" in Port Blair.
50 rupee- logo of ‘Swachchh Bharat’ and
Chariot of Hampi (Karnataka).
100 rupee- rani ki vav
• 200 rupee- image of famous Sanchi Stupa.
• 500 rupee- image of “Swachchh Bharat" and
the "Red Fort" of Delhi.
• 2000 rupee- mangalyan