BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1870
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1770
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1795
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1880
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Detailed explanation-1: -The Bank of Hindostan (1770-1832) was set up by the agency house of Alexander and Company was particularly successful. It survived three panic runs on it. The Bank of Hindostan finally went under when its parent firm M/s Alexander and Co. failed in the commercial crisis of 1832.
Detailed explanation-2: -The first bank of India was the “Bank of Hindustan”, established in 1770 and located in the then Indian capital, Calcutta.
Detailed explanation-3: -The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770.
Detailed explanation-4: -The correct answer is Bank of Hindustan. Bank of Hindustan: The Bank of Hindostan (1770-1832), set up by the agency house of Alexander and Company in the year 1770 was the first bank established in India.