[GKmojo]

Bank File

1. Important Banking Points

• First bank to introduce internet banking: ICICI bank

• First bank to introduce mutual fund: State Bank of India
• First bank to introduce credit card in India: Central Bank of India
• Which cards are known as plastic money – Credit Cards
• Open market operations are carried out by – RBI
• Largest Commercial bank in India -State Bank of India
• The International Bank for Reconstruction and Development (IBRD) is
known as–World Bank
• Minimum money transfer limit through RTGS: 2 Lakhs
• Maximum money transfer limit through RTGS: No Limit
• Minimum & Maximum money transfer limit through NEFT: No Limit
• NABARD was established in – July, 1982
• Largest Public sector bank in India –SBI
• Largest Private sector bank in India –ICICI Bank
• Largest Foreign bank in India –Standard Chartered Bank
• First Indian bank to open branch outside India i.e. London in 1946:
Bank of India
• First Bank to introduce ATM in India: HSBC in 1987, Mumbai
• Bank of Baroda has the maximum number of overseas branches
• SBI holds the second position with maximum number of overseas
branches
• First bank established in India: Bank of Hindustan in 1770
• Second bank: General Bank of India, 1786
• 3 banks namely Bank of Bengal, Bank of Bombay and Bank of Madras in
1921 to form the Imperial bank of India which was converted as State
Bank of India
• First Indian bank got ISO: Canara Bank
• First India bank started solely with Indian capital investment is PNB
• Founder of Punjab National Bank is Lala Lajpat Rai.
• RBI’s Too Big to fail list: SBI, ICICI and HDFC
 2. Banks

List of some important Public Sector and Private Sector Banks Head offices, chairman
and Slogans

S.NO Bank Name Head Office Chairmen/MD/CEO Slogan

1 Allahabad Kolkata Usha A tradition of trust
Bank Ananthasubramanian
2 Andhra Bank Hyderabad Suresh N Patel Much more to do.
With YOU in focus
3 Bank of Vadodara P S Jayakumar (MD) India’s International
Baroda Bank
4 Bank of India Mumbai Dinabandhu Relationships
Mohapatra beyond Banking
5 Canara Bank Bangalore Rakesh Sharma Together we Can
6 Central Bank Mumbai Rajeev Rishi Central to you since
of India 1911

7 Dena Bank Mumbai Aswini Kumar Trusted Family

Bank
8 Indian Bank Chennai Kishore Piraji Kharat Taking Banking
Technology to
Common Man
9 Indian Chennai R. Subramania kumar Good people to
Overseas grow with
Bank
10 Oriental Bank Gurugram Mukesh Kumar Jain Where every
of Commerce individual is
committed
 11 Punjab New Delhi Sunil Mehta The Name you can
National Bank Upon
Bank
12 Union Bank Mumbai Rajkiran Rai G. Good people to bank
of India with
13 United Bank Kolkata Pawan Kumar Bajaj The Bank that
of India begins with “U”
14 UCO Bank Kolkata Arun kaul Honors Your Trust
15 Vijaya Bank Bangalore RA Sanakra A friend You can
Narayanan Bank Upon

16 IDBI Bank Mumbai Mahesh Kumar Jain Banking for all;

17 State Bank of Mumbai Rajnish Kumar Banker to every
India Indian,
The Nation banks on
us; Pure Banking
Nothing Else;

Private Sector Banks

S. Bank Name Chairman Head quarter Slogan

No
1 AXIS Bank Shika Sharma Mumbai Everything is the same except
the name.
2 ICICI Bank Chanda Kochhar Mumbai Hum Hain na!!
3 Kotak Mahindra Bank Uday Kotak Mumbai Let’s make money simple
4 The Federal Bank Shyam Srinivasan Kerala Your perfect banking partner
5 HDFC Bank Aditya Puri Mumbai We understand your world.
6 Yes Bank Rana Kapoor Mumbai Experience our expertise

7 Induslnd Bank Romesh Sobti Mumbai

3. State Bank of India

• New chairman: Rajnish Kumar

• After Merger, SBI become 45th largest bank in the world.
• On 01.04.2017, State Bank of India, which is India's large Bank merged
five of its Associate Banks (State Bank of Bikaner & Jaipur, State Bank
of Hyderabad, State Bank of Mysore, State Bank of Patiala and State
Bank of Travancore) and Bharatiya Mahila Bank with itself.
• Total ATM of SBI: 58000
• Branches: 24000

4. Payments Bank

Payments banks are a new model of banks conceptualised by the reserve bank of
India. These banks can accept a restricted deposit which is currently limited to 1
lakh per customer account.
These banks cannot issue loans and credit cards.
Both current account and savings accounts can be operated by such banks.
Payments banks can issue services like ATM cards, debit cards online banking and
mobile banking.

The minimum capital requirement is Rs. 100 crore

On 19 August 2015, the Reserve Bank of India gave "in-principle" licences to

eleven entities to launch payments banks:
 1. Aditya Birla Nuvo
2. Airtel M Commerce Services
3. Cholamandalam Distribution Services
4. Department of Posts
5. FINO PayTech
6. National Securities Depository
7. Reliance Industries
8. Dilip Shanghvi, Sun Pharmaceuticals
9. Vijay Shekhar Sharma, Paytm
10.Tech Mahindra
11.Vodafone M-Pesa

Out of these, three have surrendered their licenses. First one being
"Chalomandalam Distribution Services", then "Dilip Shanghvi, Sun
Pharmaceuticals" and the latest, "Tech Mahindra".

 Airtel has launched India's first live payments bank,

 Paytm is the second such service to be launched in the country.
 India Post Payments Bank is the third entity to receive payments bank
permit after Bharti Airtel and Paytm.
 Aditya Birla group earned payments bank permit on 3 March 2017.
 Fino Payment Bank starts its operation
 Interest rates of payment banks:
Airtel: 7.25%
Paytm: 4 %
India post: 5.50%

5. Seventh Pay commission

The 7th Central Pay Commission, headed by Justice A K Mathur, which

submitted its report to Finance Minister in November, 2015. The
commission, headed by Justice A K Mathur was formed in February 2014.

• The committee's recommendations are scheduled to take effect

from 1 January, 2016.
 • The government constitutes the Pay Commission almost every
10 years to revise the pay scale of its employees and often these
are adopted by states after some modifications.

• Nearly 48 lakh central government employees and 55 lakh

pensioners will be befitted by the pay commission.

Key recommendations:-

• 23.55 per cent increase in pay and allowances recommended.

• Minimum pay fixed at Rs 18,000 per month; maximum pay at Rs 2.25

lakh.

• The rate of annual increment retained at 3per cent. Also, a 24 per cent
hike in pensions recommended.

• One Rank One Pension proposed for civilian government employees

on line of OROP for armed forces.

• Ceiling of gratuity enhanced from Rs 10 lakh to Rs 20 lakh; ceiling on

gratuity to be raised by 25 percent whenever DA rises by 50 per cent.

Ashok Lavasa Committee:

A high-level committee headed by finance secretary Ashok Lavasa submitted its
final report on payment of allowances to 47 lakh central government employees, to
Finance Minister Arun Jaitley Last week of April 2017.

The committee, which was asked to examine the 7th Pay Commission
recommendation for abolition of 53 allowances out of a total of 196 and subsuming
another 36 into larger existing ones
 5. Types of ATMs

White Label ATM

White Label ATMs are those ATMs which set up, owned and operated by non-bank entities,
which have been incorporated under Companies Act 1956, and after obtaining RBI’s
approval.

Brown Label ATMs

These ATMs are owned and maintained by service provider whereas bank whose brand is
used on ATM takes care of cash management and network connectivity.

Online ATM
Online ATMs: These ATMs are connected to the bank’s database at all times and provide real
time transactions online. The withdrawal limits and account balances are constantly
monitored by the bank. Online ATMs are always watching out for you!

Offline ATM
Offline ATMs: These ATMs are not connected to bank’s database- hence they have a
predefined withdrawal limit fixed and you can withdraw that amount irrespective of the
balance in your account.

So if you did not have balance in your account, and you went to a ‘offline ATM’ and
withdrew money more than the balance – you’ll still get the cash at that time, and later on
will run afoul with your bank balance! Where banks may charge some penalty for exceeding
your balance!

Onsite ATM
Onsite ATMs: are the ATMs you find next to your Bank’s branch. They go side-by-side! Or in
proper terms, they are the ATMs installed within a branch’s premises.

Off-site ATM
Off-site ATMs are the ones which are installed anywhere, but within the branch premises.
That is these are not installed next to branch. So where are they installed?
Shopping Malls, shopping markets, airports, hospitals, business areas etc.!

All the Best by GKmojo