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Banking Awareness Quiz: Mergers & Acquisitions- 1

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  1. Which section of Banking Regulation Act, 1949 related with amalgamation of two banking companies ?
    1.Section 110 to 120
    2.Section 44A
    3.Section 391 to 394
    4.Section 20C
    5.None of these
    Answer – 2.Section 44AThe Reserve Bank has discretionary powers to approve the voluntary amalgamation of two banking companies under the provisions of Section 44A of the Banking Regulation Act, 1949.

  2. Centurion bank and ________________________merged to form centurion Bank of Punjab.
    1.Bank of Punjab
    2.Bank of Chandigarh
    3.Laxmi Commercial Bank
    4.Punjab National Bank
    5.None of these
    Answer – 1.Bank of Punjab
    The board of directors of Centurion Bank Ltd and Bank of Punjab Ltd in 2005 approved the merger of the two banks. The combined entity would be known as Centurion Bank of Punjab.

  3. In 2008, Centurion Bank of Punjab has acquired by which financial service company ?
    2.ICICI Bank
    3.HDFC Bank
    4.IDBI Bank
    5.None of these
    Answer – 3.HDFC Bank
    HDFC Bank Board on 25th February 2008 has approved the acquisition of Centurion Bank of Punjab (CBoP) for Rs 9,510 crore in one of the largest merger in the financial sector in India

  4. The Imperial Bank of India has been formed after amalgamation of _________________ Presidency Banks
    5.None of these
    Answer – 4.Three
    The Imperial Bank of India came into existence on 27 January 1921 by J.M. Keynes. When the three Presidency Banks of colonial India, were reorganised and amalgamated to form a single banking entity. The three Presidency banks were the Bank of Bengal, the Bank of Bombay and the Bank of Madras

  5. Kodungallur based Lord Krishna Bank was merged with _________________________
    1.Centurion Bank of Punjab
    2.Bharat Overseas Bank
    3.United Western Bank Ltd.
    4.Indian Overseas Bank
    5.None of these
    Answer – 1.Centurion Bank of Punjab
    Lord Krishna Bank became a scheduled commercial bank in 1971. In 2007, Lord Krishna Bank was merged with Centurion Bank of Punjab

  6. Miraj State Bank has acquired by which bank in 1985?
    1.Bank of Baroda
    2.Allahabad Bank
    3.Punjab National Bank
    4.Union Bank of India
    5.None of these
    Answer – 4.Union Bank of India
    In 1985 Union Bank of India acquired Miraj State Bank, which was established in 1929, and which had 26 branches.

  7. Kotak Mahindra acquires ING Vysya bank, to become India’s 4th largest pvt sector bank, the headquarters of ING Vysya bank is located in _________________
    5.None of these
    Answer – 2.Bengaluru
    In 2014, Kotak Mahindra Bank announced it was acquiring Bengalaru-headquartered ING Vysya Bank in an all-stock deal. ING shareholders will get 725 Kotak Bank shares for every 1,000 shares they hold. The deal will make Kotak the fourth-largest private bank in the country in terms of total business

  8. In 2010, ICICI bank acquired which of the following private sector bank ?
    1.Bank of Rajasthan
    2.Bank of Punjab
    3.Bank of Haryana
    4.Bank of Sikkim
    5.None of these
    Answer – 1.Bank of Rajasthan
    Ahmedabad headquartered Bank of Rajasthan Ltd was a private sector bank of India which merged with ICICI Bank in 2010.

  9. Five associate banks and Bharatiya Mahila Bank(BMB) were merged with SBI effect from __________________________
    1.April 1, 2017
    2.February 15, 2017
    3.March 20, 2017
    4.January 1, 2017
    5.None of these
    Answer – 1.April 1, 2017
    On 15 February 2017, the Union Cabinet approved the merger of five associate banks with SBIThe 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 were merged with State Bank of India with effect from 1 April 2017

  10. United Western Bank (UWB) was acquired by IDBI in which year ?
    5.None of these
    Answer – 1.2006
    United Western Bank (UWB) was an Indian bank founded in 1840 that IDBI Bank acquired in 2006 in a rescue.

  11. ICICI bank acquired Bank of Madura was headquartered in which city of India ?
    3.New Delhi
    5.None of these
    Answer – 4.Madurai
    Bank of Madura was established in 1943 by Karumuttu Thiagarajan Chettiar. Bank of Madura was a Chettiar bank with a large customer base of 2 million plus customers and a network of more than 280 branches and 40+ ATMs centres spread across about 100 cities in India. The bank merged with ICICI Bank Limited, under Section 44A of the Banking Regulation Act, 1949. The Reserve Bank of India approved the merger effective 10 March 2001. It was headquartered at Madurai.

  12. The Hindustan Commercial bank had acquired by _____________________in the year 1986.
    1.Bank of India
    2.Punjab National Bank
    3.Canara Bank
    4.Federal Bank
    5.None of these
    Answer – 2.Punjab National Bank
    In the year 1986, Punjab National Bank acquired Hindustan Commercial, which added Hindustans 142 branches to the Banks network.

  13. Which committee recommended the merger of large Indian banks to make them strong ?
    1.Narasimham -I Committee
    2.A C Shah Committee
    3.A Ghosh Committee
    4.Narasimham -II Committee
    5.None of these
    Answer – 4.Narasimham -II Committee
    Narasimham -II Committee was tasked with the progress review of the implementation of the banking reforms since 1992 with the aim of further strengthening the financial institutions of India

  14. The Nainital Bank Limited (NTB) is a subsidiary of _____________________
    1.Bank of Baroda
    2.HDFC Bank
    3.Union Bank of India
    5.None of these
    Answer – 1.Bank of Baroda
    The Nainital Bank Limited (NTB) (known as Nainital Bank) (Hindi: नैनीताल बैंक) is a scheduled commercial bank founded in 1922. The bank is a subsidiary of Bank of Baroda.

  15. In 2004, Oriental Bank of Commerce had acquired Global Trust Bank(GTB) of _____________.
    5.None of these
    Answer – 3. Secunderabad

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