BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1974
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1978
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1973
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1980
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Detailed explanation-1: -On the recommendation of Banking commission, State Bank of India(SBI) became the first Indian Bank to start with the merchant banking activities in 1972-73.
Detailed explanation-2: -History of Merchant Banking in India 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.
Detailed explanation-3: -Grindlays Bank is first time introduce the merchant banking in India .
Detailed explanation-4: -Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large European fair of St. Giles (England), then at the Champagne fairs (France).