BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1969
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1963
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1974
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Detailed explanation-1: -Formal Merchant Banking activity in India originated with the setting up of n Merchant Banking division by the Grindlays Bank in 1969. This was later on picked up by other Banks and institutions.
Detailed explanation-2: -Notes: Formal merchant banking activity in India was originated in 1969.
Detailed explanation-3: -In 1973, SBI started the merchant banking and it was followed by ICICI. SBI capital market was set up in August 1986 as a fully-fledged merchant banker. Between 1974 and 1985, the merchant banker has promoted lot of companies. However, they were brought under the control of SEBI in 1992.
Detailed explanation-4: -The State Bank of India was the first Indian commercial bank to set up a separate Merchant Banking Division in 1973, followed by ICICI followed it in 1974. The merchant bankers can be categorized into four types on the basis of activities permitted to be carried by them : 1. .