BANK EXAMINATIONS :: OBJECTIVE QUESTIONS :: SET - 1

*	The new banks are required to be registered as public limited companies under the Companies Act, 1956, with initial paid up capital of (as per 1993 Guidelines) Rs. 100 Crores.
*	National Housing Bank was setup in July, 1988.
*	New Bank of India was merged with Punjab National Bank (PNB).
*	Government decided to allow new local area banks in the year 1996.
*	The minimum paid up capital for local area banks is Rs. 5 Crores and the promoter’s contribution is Rs. 2 Crores.
*	The subsidiary banks were established under the State Bank of India (subsidiary) Act of 1959.
*	National Bank of Agriculture and Rural Development (N A B A R D) was set up in the year 12th July, 1982.
*	If Regional Rural Banks and Co-operative banks seek permission of the RBI for opening branches, it will have to obtain recommendation from N A B A R D.
*	N A B A R D provides different types of refinance to the eligible institutions namely State Co-operative Banks, Regional Rural Banks and State Land Development Banks.
*	The Housing Bank has launched a “Home Loan Account Scheme” with effect from 01-07-1989.
*	Industrial Development Bank of India was set up in the year 1964.
*	IDBI was delinked from the RBI on 16-02-1976.
*	The Industrial Finance Corporation of India was the first development bank established in India in the year 1948.
*	ICICI was set up as a joint stock company in the year 1955.
*	The public cum right issue of capital by ICICI was in the year 1991.
*	The Industrial Reconstruction Corporation of India Limited was set up in the year 1971.
*	The Tamilnadu Industrial Investment Corporation was set up as a joint stock company in 1949.
*	The Co-operative banks are organised on a "three-tier-system".
*	Punjab National Bank (1894) and People's Bank (1901) was started by Harkishan Lal Gauba.