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Quiz Banking and Currency : 10 Multiple Choice Questions

The following section consist of Quiz on Banking and currency.Take the quiz and check how much you can score. Banking in India, in the modern-day sense, come from the last years of the 18th century. Amongst the very first financial institutions were the Bank of Hindostan, which was established in 1770 and sold off in 1829-32; and the General Bank of India, developed in 1786 however fell short in 1791. The largest bank, and also the oldest still out there, is the State Bank of India (S.B.I). It originated as the Bank of Calcutta in June 1806. In 1809, it was relabelled as the Bank of Bengal. This was just one of the three banks funded by a presidency federal government, the other two were the Bank of Bombay and the Bank of Madras. The 3 financial institutions were merged in 1921 to form the Imperial Bank of India, which after India’s self-reliance, came to be the State Bank of India in 1955. For years the presidency banks had acted as quasi-central banks, as did their followers, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. Click here for Money market-Quiz to test your knowlege

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