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Important Points in Indian Banking

  1. Reserve Bank of India (RBI) was established in 1935 and Nationalized in 1949.
  2. Sir Osborne Smith was the first Governor of the Reserve Bank of India.
  3. CD Deshmukh was the first Indian Governor of RBI.
  4. Banks Basics

  5. Savings account system in India was started by Presidency Bank, in 1833.
  6. Cheque system was first introduced by Bengal Bank which was established in 1784.
  7. Allahabad Bank is the oldest existing public sector bank in India.
  8. Hongkong and Shanghai Banking Corporation (HSBC) introduced first time ATM in India in 1987, Mumbai.
  9. On July 19, 1969 14 commercial banks were nationalised in India.
  10. Central Bank of India was the first public bank to introduce credit card.
  11. ICICI Bank was the first Indian Bank to provide internet banking facility.
  12. ICICI Bank was the first Bank to provide Mobile ATM.
  13. Bank of Baroda has the maximum number of overseas branches.
  14. SBI (State Bank of India) has the total number of maximum branches and holds 2nd position in the world.
  15. Bank of India is the first Indian Bank to open overseas branch. It established a branch in London in 1946.
  16. In 1955 Imperial Bank of India became State Bank of India.
  17. RBI to issue Rs 10 plastic currency notes in 5 cities: Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla.
  18. The Reserve Bank has signed a pact with Central Bank of Kenya for exchange of information and supervisory cooperation.
  19. RBI notified the increase in deposit money under Public Provident Fund, PPF to 1.5 lakh rupees from 1 lakh rupees.
  20. The Reserve Bank of India said banks should make all new ATMs installed from July 1, 2014 as "Talking ATMs" with Braille keypads.

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