Class 11 Finance Important Chapter 7 Evolution and Growth of Bank in India

Class 11 Finance Important Chapter 7 Evolution and Growth of Bank in India Solutions English Medium As Per AHSEC New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 11 Finance Important Solutions and select need one. AHSEC Class 11 Finance Additional Notes English Medium Download PDF. HS 1st Year Finance Important Solutions in English.

Class 11 Finance Important Chapter 7 Evolution and Growth of Bank in India

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 11 Banking Additional Question Answer are part of All Subject Solutions. Here we have given HS 1st Year Banking Important Notes in English for All Chapters, You can practice these here.

Evolution and Growth of Bank in India

Chapter: 7

IMPORTANT QUESTION AND ANSWER

Answer the Following Question:

1. What are the three main periods of banking evolution in India?

Ans: Ancient period, Pre-Independence period, Post-Independence period.

2. What was the significance of the Joint Stock Companies Act, 1850?

Ans: It allowed corporate sector participation in banking, enabling establishment of many commercial banks.

3. Which banks merged to form the Imperial Bank of India?

Ans: Bank of Bengal, Bank of Bombay, and Bank of Madras.

4. When was the Reserve Bank of India established?

Ans: 1935.

5. What led to the nationalization of commercial banks in India?

Ans: Need for better rural credit distribution, economic development, and monetary policy implementation.

6. What is the difference between scheduled and non-scheduled banks?

Ans: Scheduled banks meet RBI criteria, get refinance facilities; non-scheduled banks do not.

Fill in the Blanks:

1. The Bank of Bengal was established in the year _______.

Ans: 1809.

2. The Reserve Bank of India was nationalized in the year _______.

Ans: 1949.

3. The Imperial Bank of India was renamed as State Bank of India in _______.

Ans: 1955.

4. Regional Rural Banks were set up in the year _______.

Ans: 1975.

5. Public sector banks are controlled by the _______.

Ans: Government.

Short Notes:

1. Presidency Banks.

Ans: The first major modern banks in India, established in the early 19th century—Bank of Bengal (1809), Bank of Bombay (1840), and Bank of Madras (1843)—formed the backbone of early banking under British rule.

2. Imperial Bank of India.

Ans: Formed in 1921 by merging Presidency Banks; served both commercial and limited central banking roles before being nationalized to form SBI.

3. State Bank of India.

Ans: India’s largest commercial bank, nationalized in 1955, providing banking facilities across urban and rural areas and acting as an agent of RBI.

4. Scheduled Banks.

Ans: Banks listed in the Second Schedule of RBI Act, 1934, fulfilling specific capital and regulatory criteria, eligible for RBI facilities and public confidence.