BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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CITIC Ka Wah Bank Limited
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China Construction Bank
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Bank of China
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Chong Hing Bank Limited
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Detailed explanation-1: -“The RBI has issued licence to Bank of China to set up its first branch in India. It was a commitment made by the prime minister to the President of China, ” said a source.
Detailed explanation-2: -Kotak Mahindra Bank and Yes Bank were the last two entities to get banking licenses from the RBI in 2003-04.
Detailed explanation-3: -On 19 August 2015, the Reserve Bank of India gave “in-principle” licences to 11 entities to launch payments banks. The “in-principle” license was valid for 18 months within which the entities must fulfil the requirements and they were not allowed to engage in banking activities within the period.
Detailed explanation-4: -Issue of currency Other than the Government of India, the Reserve Bank of India is the sole body authorised to issue banknotes in India.
Detailed explanation-5: -Section 22 in BANKING REGULATION ACT, 1949.