BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 5 Crore
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Rs. 10 Crore
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Rs. 15 Crore
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Rs. 20 Crore
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Detailed explanation-1: -RBI did not start as a Government owned bank but as a privately held bank without major government ownership. It started with a Share Capital of Rs. 5 Crore, divided into shares of Rs. 100 each fully paid up.
Detailed explanation-2: -At the time of establishment, the authorized capital of the Reserve Bank of India was ₹5 crores. The government’s share in this was only ₹20-22 lakhs.
Detailed explanation-3: -1935: The Reserve Bank commenced operations as India’s central bank on April 1 as a private shareholders’ bank with a paid up capital of rupees five crores (rupees fifty million).
Detailed explanation-4: -The Central Office of the RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937.
Detailed explanation-5: -The minimum capital for Small Finance is prescribed at Rs. 200 crore .