ECONOMICS
FINANCIAL MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SBI
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PNB
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ICICI
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IDBI
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Detailed explanation-1: -The State Bank of India was the first Indian Bank to set-up Merchant Banking Division in 1972. Later ICICI set up its Merchant Banking Division followed by Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank and UCO Bank.
Detailed explanation-2: -Allahabad Bank is the oldest Public Sector Bank of India. It was established in 1865. Q. Which of the following is the oldest public sector bank?
Detailed explanation-3: -In the 1970s, the State bank of India entered the business by creating the Bureau of Merchant Banking and ICICI Securities became the first Indian financial institution to offer merchant banking services.
Detailed explanation-4: -State Bank of India (SBI) is the oldest bank in India. State Bank of India is also the largest bank in India. SBI was established as Bank of Calcutta in 1806. It was renamed as Bank of Bengal in 1809.