BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Allahabad Bank
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Bank of Baroda
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Patiala Bank
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Bank of India
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Detailed explanation-1: -The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad.
Detailed explanation-2: -The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though.
Detailed explanation-3: -The first bank of a joint stock variety was Bank of Bombay, established in 1720 in Bombay4 . This was followed by Bank of Hindustan in Calcutta, which was established in 1770 by an agency house.
Detailed explanation-4: -Allahabad Bank was an Indian nationalised bank with its headquarters in Kolkata, India. Founded in Allahabad in 1865 and nationalized by the government of India in 1969, the bank provided banking and financial services for 155 years until it was merged with Indian Bank in 2020.
Detailed explanation-5: -The correct answer is Allahabad Bank (now Indian Bank). Joint Stock Bank is a bank having more than one shareholder. Allahabad is the oldest Joint stock bank established in the year 1865. The first variety of joint-stock banks was the Bank of Bombay, established in 1720 in Bombay.