SBI Scholar Quiz: Banking and Finance Essentials

Imperial Bank of India

What was the name of SBI before 1955?

July 1, 1955

When was SBI founded?

SBI Act, 1955

Under which act was SBI formed?

State Bank of India

Which is the largest public sector bank in India?

Dinesh Kumar Khara

Who is the current Chairperson of SBI (2024)?

Mumbai

Where is SBI headquartered?

1955

SBI was nationalised in...?

To provide banking to rural and semi-urban India

What was the main reason for SBI's creation?

RBI

SBI is regulated by?

Government of India

Who owns the majority of SBI?

5

SBI merged with how many associate banks in 2017?

"The Banker to Every Indian"

Tagline of SBI?

BSE and NSE

SBI is listed on which stock exchanges?

Ministry of Finance

Which ministry governs SBI?

YONO

What is YONO?

SBININBB

What's the SWIFT code of SBI?

Arundhati Bhattacharya

First female chairperson of SBI?

Over 30

SBI's international operations are in how many countries?

CSR arm of SBI

What's the SBI Foundation?

SBI Life, SBI Cards, SBI Mutual Fund

Name 3 SBI subsidiaries.

Approx. 55%

SBI owns what % in SBI Life?

Retail Banking, Corporate Banking, Treasury

What are SBI's key verticals?

Missed call banking service

What's SBI Quick?

SBI Buddy

Which app was discontinued in favour of YONO?

April 1, 1935

When was RBI established?

1949

RBI nationalised in...?

Bank of Hindustan

First Indian bank?

Punjab National Bank

First Indian-owned bank?

1969

Nationalisation of 14 banks occurred in...?

1980

2nd round of bank nationalisation?

To direct credit to priority sectors

What triggered nationalisation?

Member-owned financial institution

What is a cooperative bank?

Provides banking for profit

What is a commercial bank?

Can accept deposits but not lend

What is a payments bank?

Airtel Payments Bank

Name India's first payments bank.

Currency issue, credit control, banking regulation

What is the role of RBI?

Regulates capital markets

What is SEBI?

Insurance Regulatory and Development Authority of India

What is IRDAI?

Pension Fund Regulatory and Development Authority

What is PFRDA?

1982

When was NABARD founded?

1990

When was SIDBI founded?

Handles customer complaints

What's the Banking Ombudsman?

International banking regulation standards

What was BASEL III?

Listed in 2nd schedule of RBI Act

What are scheduled banks?

Not listed in RBI Act schedule

What's a non-scheduled bank?

Non-Banking Financial Companies

What are NBFCs?

Provide long-term funding (like NABARD, SIDBI)

What are development banks?

Access to banking for all

What is financial inclusion?

PM Narendra Modi

Who started Jan Dhan Yojana?

Mandatory lending to agriculture, MSMEs etc.

What is priority sector lending?

10.875% for Indian banks

What's the minimum CRAR under Basel III?

Controls inflation and liquidity

What's the repo rate mechanism?

Monetary policy control

What's RBI's role in inflation?

Shadow banks

What are shadow banks?

CRR

Cash kept with RBI (currently ~4%)

SLR

Govt. securities kept as reserve

repo rate

Rate at which RBI lends to banks

reverse repo rate

Rate at which RBI borrows from banks

inflation

General price rise over time

deflation

Price fall

savings account

Interest-earning personal bank account

current account

Business banking, no interest

KYC

Know Your Customer

NPA

Non-performing Asset (loan unpaid 90+ days)

bank draft

Prepaid cheque issued by a bank

cheque

Order to pay from account

overdraft

Withdraw more than you have

fixed deposit

Deposit for fixed time earning interest

recurring deposit

Monthly deposit scheme

IFSC

Code identifying bank branch

MICR

Code for cheque processing

EFT

Electronic Funds Transfer

NEFT

Batch-based online transfer system

RTGS

Real-time high value transfer (₹2L+)

IMPS

Immediate small-value money transfer

UPI

Instant mobile money transfer

standing instruction

Auto-payment instruction to bank

nominee

Receiver of funds upon death

TDS

Tax Deducted at Source

PAN card

Used for Tax, banking, KYC

passbook

Transaction record booklet

mobile banking

Banking via app

net banking

Banking via website

ECS

Electronic clearing service for auto debit/credit

ECS used for

Salary, EMI, bill payments

banking correspondent

Agent providing basic banking in villages

biometric authentication

Fingerprint, retina used to verify identity

2FA in banking

2-Factor Authentication

share

Company ownership unit

bond

Fixed return debt instrument

mutual fund

Pooled investment

SIP

Systematic monthly investment

NAV

Net Asset Value of mutual fund

IPO

Initial Public Offering

equity

Ownership in a business

dividend

Profit paid to shareholders

capital gain

Profit on asset sale

capital loss

Loss on asset sale

diversification

Risk spreading across asset classes

blue-chip stock

Stable, well-known company