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Which is the world's largest bank?
July 21, 2004
BANKING
Which is the world's largest bank? Indian banks have travelled a long way from being laid-back, staff-heavy monoliths to tech-savvy entities. The entry of foreign and private banks have completely changed the Indian banking scenario. Take the Rediff Business Quiz and find out how much you know about the banking industry.
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1. Which Indian bank crossed the $1-billion mark in consolidated earnings for 2003-04? a) Centurion Bank b) State Bank of India c) ICICI Bank
Wrong! Try again.
Wrong! The correct answer is State Bank of India. The origin of the State Bank of India goes back to the establishment of the Bank of Calcutta on June 2, 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (January 2, 1809). It was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (April 15, 1840) and the Bank of Madras (July 1, 1843) followed the Bank of Bengal. The presidency Banks of Bengal, Bombay and Madras with their 70 branches were merged in 1921 to form the Imperial Bank of India. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955.
Correct! The origin of the State Bank of India goes back to the establishment of the Bank of Calcutta on June 2, 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (January 2, 1809). It was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (April 15, 1840) and the Bank of Madras (July 1, 1843) followed the Bank of Bengal. The presidency Banks of Bengal, Bombay and Madras with their 70 branches were merged in 1921 to form the Imperial Bank of India. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955.
2. Which is the world's largest external source of funding for HIV/AIDS programmes? a) World Bank b) US Government c) Bill and Amanda Gates Foundation
Wrong! Try again..
Wrong! The correct answer is World Bank. The World Bank Group consists of -- The International Bank for Reconstruction and Development, The International Development Association, The International Finance Corporation, The Multilateral Investment Guarantee Agency and The International Centre for Settlement of Investment Disputes -- all owned by member countries. Each institution plays a distinct role in the mission to fight poverty and improve living standards. The World Bank is run like a cooperative, with its member countries as shareholders. The number of shares a country has is based roughly on the size of its economy. The United States is the largest single shareholder, with 16.41 per cent of votes, followed by Japan (7.87 per cent), Germany (4.49 per cent), the United Kingdom (4.31 per cent), and France (4.31 per cent). The rest of the shares are divided among the other member countries.
Correct! The World Bank Group consists of -- The International Bank for Reconstruction and Development, The International Development Association, The International Finance Corporation, The Multilateral Investment Guarantee Agency and The International Centre for Settlement of Investment Disputes -- all owned by member countries. Each institution plays a distinct role in the mission to fight poverty and improve living standards. The World Bank is run like a cooperative, with its member countries as shareholders. The number of shares a country has is based roughly on the size of its economy. The United States is the largest single shareholder, with 16.41 per cent of votes, followed by Japan (7.87 per cent), Germany (4.49 per cent), the United Kingdom (4.31 per cent), and France (4.31 per cent). The rest of the shares are divided among the other member countries.
3. HDFC Bank was incorporated in which year? a) 1977 b) 1994 c) 1995
Wrong! Try again..
Wrong! The correct answer is 1994. The Housing Development Finance Corporation Limited was among the first to receive an 'in-principle' approval from the Reserve Bank of India to set up a bank in the private sector. HDFC Bank Ltd was incorporated in August 1994. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC Bank is headquartered in Mumbai. The bank at present has a network of over 332 branches spread over 171 cities across the country. The bank also has over 900 networked ATMs. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express credit/charge cardholders.
Correct! The Housing Development Finance Corporation Limited was among the first to receive an 'in-principle' approval from the Reserve Bank of India to set up a bank in the private sector. HDFC Bank Ltd was incorporated in August 1994. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC Bank is headquartered in Mumbai. The bank at present has a network of over 332 branches spread over 171 cities across the country. The bank also has over 900 networked ATMs. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express credit/charge cardholders.
4. ICICI Bank's ADR is listed on which stock exchange? a) New York Stock Exchange b) Nasdaq c) American Stock Exchange
Wrong! Try again..
Wrong! The correct answer is New York Stock Exchange. ICICI Bank is India's second-largest bank with total assets of about Rs125,229 crore and a network of over 450 branches and offices and about 1790 ATMs. ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange, National Stock Exchange and the stock exchanges at Kolkata and Vadodara. Its American Depositary Receipts are listed on the New York Stock Exchange. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of the two.
Correct! ICICI Bank is India's second-largest bank with total assets of about Rs.125,229 crore and a network of over 450 branches and offices and about 1790 ATMs. ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange, National Stock Exchange and the stock exchanges at Kolkata and Vadodara. Its American Depositary Receipts are listed on the New York Stock Exchange. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of the two.
5. Which is the world's largest bank? a) Standard Chartered b) Citigroup c) Hong Kong and Shanghai Banking Corp
Wrong! Try again.
Wrong! The correct answer is Citigroup. City Bank of New York, the predecessor of Citibank was founded in 1812. In 1894, it became the largest bank in the US and by 1902, the bank had expanded into Asia. By 1930 it was the largest international bank in the world with 100 branches in 23 countries outside the USA. The bank's name was changed to Citibank in 1976. In the 1980's Citibank began to serve consumer clients internationally and in 1981 it purchased the license of Diners Club International, the credit card franchise. Today Citibank has branches in 102 countries across the globe. On October 8, 1998, all Citicorp and Travelers Group divisions merged to become Citigroup Inc. The Bank of Tokyo-Mitsubishi and UFJ Holdings formally announced on July 16 that they would join forces to form the biggest bank in the world in terms of assets at $1.73 trillion. That will push Citigroup to the second slot with its asset value of $1.3 trillion. Mitsubishi Tokyo, Japan's second-largest bank, and UFJ, the fourth-largest, seek to sign a preliminary agreement by the end of this month, with the goal of merging by September 2005.
Correct! City Bank of New York, the predecessor of Citibank was founded in 1812. In 1894, it became the largest bank in the US and by 1902, the bank had expanded into Asia. By 1930 it was the largest international bank in the world with 100 branches in 23 countries outside the USA. The bank's name was changed to Citibank in 1976. In the 1980's Citibank began to serve consumer clients internationally and in 1981 it purchased the license of Diners Club International, the credit card franchise. Today Citibank has branches in 102 countries across the globe. On October 8, 1998, all Citicorp and Travelers Group divisions merged to become Citigroup Inc. The Bank of Tokyo-Mitsubishi and UFJ Holdings formally announced on July 16 that they would join forces to form the biggest bank in the world in terms of assets at $1.73 trillion. That will push Citigroup to the second slot with its asset value of $1.3 trillion. Mitsubishi Tokyo, Japan's second-largest bank, and UFJ, the fourth-largest, seek to sign a preliminary agreement by the end of this month, with the goal of merging by September 2005.