BANK ACCOUNT CREATION API

Dear All

I have the following query.

1) While creating the bank account through bank account creation API ...IS it mandatory to pass the bank name e.g. HSBC , HDFC etc.

2) How bank account creation process take care for the bank name ? In case a thrird party application is sending the data to create bank account in Oracle then how bank creation process is handled.

3) Is it mandatory to have the bank already created in Oracle before we can create the bank account through API. If yes then how bank account creation API identify under which bank a bank account is to be created?