Banking Awareness

Explanation:
State Bank of India (SBI) was the first bank in India to launch a mutual fund. It introduced the SBI Mutual Fund in 1987 as a subsidiary of SBI, marking the beginning of the mutual fund industry in India under the public sector.

Explanation:
ICICI Bank was the first bank in India to introduce Internet banking services in 1998. This marked a major milestone in the Indian banking industry, enabling customers to access banking services online without visiting a physical branch.

Explanation:
The Bank of Hindustan, established in 1770, was the first bank in India to introduce the cheque system.
This innovation significantly modernized banking operations in India by providing a safer and more convenient method for transferring money compared to physical cash.

Explanation:
The Presidency Banks (Bank of Bengal, Bank of Bombay, and Bank of Madras) were the first to introduce savings accounts in India during the early 19th century.

These banks later merged in 1921 to form the Imperial Bank of India, which eventually became the State Bank of India (SBI) in 1955.

Explanation:
Sir Chintaman Dwarakanath Deshmukh was the first Indian Governor of the Reserve Bank of India (RBI).
He served from August 11, 1943, to June 30, 1949.