Bank of England

Bank of England

The bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eight-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry.
The bank became an independent public organization in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The banks is one of eight banks authorized to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The bank’s Monetary Policy Committee has devolved responsibility for managing monetary policy.

Translation

Angliya banki Buyuk Britaniyaning markaziy banki bo’lib, aksariyat zamonaviy markaziy banklar asos qilib olingan modeldir. 1694-yilda Angliya hukumatining bankiri sifatida tashkil etilgan va hozirgacha Buyuk Britaniya hukumatining bankirlaridan biri bo’lib, u dunyodagi sakkizinchi eng qadimgi bank hisoblanadi. U 1694-yilda tashkil etilganidan to 1946-yilda milliylashtirilgun-
ga qadar aksiyadorlarga tegishli edi. Bank 1998-yilda mustaqil jamoat tashkilotiga aylandi, u to’liq hukumat nomidan G’aznachilik so’rovchisiga tegishli bo’lib, o’sha davr hukumatining iqtisodiy siyosati-ni qo’llab-quvvatlash mandati, lekin narxlar barqarorligini saq- lashda mustaqil. Bank Buyuk Britaniyada banknotalarni chiqarishga vakolatli sakkiz bankdan biri bo’lib, Angliya va Uelsda banknotalarni chiqarish bo’yicha monopoliyaga ega, Shotlandiya va Shimoliy Irlandiyada tijorat banklari tomonidan banknotalarni chiqarishni tartibga soladi.

Answer the questions.

1. 
   Which of the following public sector banks has the largest number of branches in foreign countries?
   

A)bank of India

B)bank of Baroda

C)Punjab National Bank.
2. The only merger of two public sector banks took place between-…..
A)bank of India and New bank of India.

B)Punjab National bank and New bank of India

C)Allahabad bank and United bank of ndia.
3. which of the following banks was inaugurated by Mahatma Gandhi in 1919?
A)bank of Maharashtra
B)bank of baroda

C)union bank of India

4. After State bank of India, has the largest number of offices?

A)Punjab National bank

B)bank of India
C)Andhra bank
5. which of the following terms is used in banking field?

A)Interest rate swap

B)input devices
C)sedimentary
6. bank rate is decided by which of the following?
A)government of India

B)reserve bank of India

C)state bank of India.

Synonyms of bank

Fund, stock, store, treasury, coffer countinghouse, depository, exchequer, hoard, repository, reserve, reservoir, safe, savings, stockpile, storehouse, thrift, vault, credit union, investmen firm, trust company.