Ultimate Knowledge Test About Banks! Trivia Quiz

Explanation
O.P. Bhatt is the correct answer because he served as the Chairman of the State Bank of India. He held this position from 2006 to 2011 and played a significant role in the growth and development of the bank during his tenure.

Explanation
The Reserve Bank of India (RBI) headquarters is located in Mumbai. Mumbai is the financial capital of India and houses several major banks and financial institutions. Being the headquarters of RBI, Mumbai serves as the central hub for the country's monetary policies, banking regulations, and financial stability. The presence of RBI in Mumbai also facilitates efficient coordination and communication with other financial institutions and government bodies located in the city.

Explanation
Union Bank is a public sector bank because it is owned and controlled by the government. Public sector banks are established with the aim of providing banking services to the general public and promoting economic development. These banks are governed by regulations and policies set by the government, and their primary focus is on social welfare and financial inclusion. Union Bank, being a public sector bank, operates with the objective of serving the public and contributing to the overall growth of the country's economy.

Explanation
Dr Subbarao is the correct answer because he served as the Governor of the Reserve Bank of India (RBI) from 2008 to 2013. During his tenure, he played a crucial role in managing the Indian economy during the global financial crisis. He implemented various measures to stabilize the economy and ensure financial stability. Dr Subbarao's tenure as the Governor of RBI is widely recognized for his prudent monetary policies and efforts to strengthen the banking sector.

Explanation
PJ Nayak was the Chairman of Axis Bank.

Explanation
The Reserve Bank of India recently bought gold from the IMF. This indicates that the central bank is diversifying its reserves and increasing its gold holdings. Buying gold can be seen as a strategic move to hedge against inflation, safeguard against currency fluctuations, and strengthen the country's financial stability.

Explanation
Kotak Mahindra Finance is the correct answer because it was the first company in Indian banking history to convert to a bank. This means that Kotak Mahindra Finance, which was originally a non-banking financial company, successfully transformed itself into a bank. This achievement makes it a significant milestone in the Indian banking industry.

Explanation
Repco Bank is the correct answer because it is the only bank among the options that is governed by the Ministry of Home Affairs. The Ministry of Home Affairs is responsible for the internal security and domestic policy of the country, and it oversees certain banks that are specifically designated to cater to the needs of the employees of the Home Ministry and other related departments.

Explanation
IndusInd Bank was promoted by the Hinduja group.

Explanation
Chanda Kochhar is the CEO of ICICI Bank.