Which of the following statements is NOT correct regarding banks of India?

Correct option is D

The correct answer is (D) Reserve Bank of India is private bank of India.

Explanation:
The Reserve Bank of India (RBI) is the central bank of India, not a private bank.

Incorrect Options Explanation:

• Mobile ATM was first introduced by ICICI bank: Correct. Introduced in 2006.
• Allahabad Bank is the oldest public sector bank of India: Correct. Established in 1865.
• SBI has the maximum number of branches all over India: Correct. SBI has the largest network.

Information Booster:

• Reserve Bank of India (RBI):
  • Established in 1935.
  • Regulates India's banking system.
  • Functions under Ministry of Finance.
• Minister (2025):
  • Ministry of Finance, Nirmala Sitharaman.