UPSC 2003 › Indian Economy › Banking & Financial Sector

2 questions · 2003 · answers as per the UPSC key

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UPSC 2003 · Q32 · Indian Economy › Banking & Financial Sector · Save

In India, the first bank of limited liability managed by Indians and founded in 1881 was

(a) Hindustan Commercial Bank
(b) Oudh Commercial Bank
(c) Punjab National Bank
(d) Punjab and Sind Bank
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Answer: (b) Oudh Commercial Bank
UPSC 2003 · Q96 · Indian Economy › Banking & Financial Sector · Save

Consider the following statements:

  1. The maximum limit of shareholding of Indian promoters in private sector banks in India is 49 per cent of the paid-up capital.
  2. Foreign Direct Investment up to 49 per cent from all sources is permitted in private sector banks in India under the automatic route.

Which of these statements is/are correct?

(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (c) Both 1 and 2