Analyzing Statements About Indian Banks

The question asks to identify the statement that is NOT correct regarding banks in India.

Statement Analysis

• Statement 1: Mobile ATM was first introduced by ICICI bank. This statement is factually correct. ICICI Bank pioneered the concept of mobile ATMs in India.
• Statement 2: Allahabad Bank is the oldest public sector bank of India. While Allahabad Bank was one of the oldest entities, following its merger with Indian Bank, its historical context often places it as the oldest public sector bank. This statement is generally considered correct in this context.
• Statement 3: SBI has the maximum number of branches all over India. This is correct. The State Bank of India (SBI) operates the largest network of bank branches across India.
• Statement 4: Reserve Bank of India is private bank of India. This statement is incorrect. The Reserve Bank of India (RBI) is the central bank of India, established by the Government. It was nationalized in 1949 and is a public institution, not a private bank.

Conclusion

Based on the analysis, the statement that is NOT correct is that the Reserve Bank of India is a private bank.