BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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WestBengal when thefirst Co-operative Land Mortgage Bank was organised in 24 Parganas in 1884
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In Punjab when the first Co-operative Land Mortgage Bank was organised in Jhang in 1920
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Orissa when the first Co-operative Land Mortgage Bank was organised in Jhang in 1834
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All of these
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Detailed explanation-1: -The special banks providing Long Term Loans are called Land Development Banks (LDBs). The first LDB was started at Jhang in Punjab in 1920.
Detailed explanation-2: -History. The first Land Development Bank was started at Jhang in Punjab in 1920.
Detailed explanation-3: -The first co-operative land mortgage bank was established at Jhind, in Punjab in 1920. However, it did not function well. A real beginning was made by the establishment of the Central Land Mortgage Bank in Madras in 1929. Later on, the movement spread too many other states.
Detailed explanation-4: -It was on 6th October, 1960 that the All India Central Land Mortgage Banks Cooperative Union was registered with the main objective of promoting the interests of the Long Term Co-operative Credit Structure (LTCCS) movement in the country.
Detailed explanation-5: -The first LDB was started at Jhang in Punjab in 1920. But the real impetus to these banks was received after passing the Land Mortgage Banks Act in 1930’s (LDB’s were originally called Land Mortgage Banks). After passing this Act LDB’s were started in different states of India.