2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which among the following was the first bank purely managed by Indians?
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State Bank of India
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Punjab National Bank
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Bank of India
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Bank of Baroda
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Explanation:
Detailed explanation-1: -Oudh Commercial Bank or Awadh Commercial Bank was an Indian bank established in 1881 in Faizabad and operated until 1958 when it failed. It was the first commercial bank in India having limited liability and an entirely Indian board of directors.
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: -Detailed Solution. The correct answer is Punjab National Bank.
Detailed explanation-4: -Established in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians.
There is 1 question to complete.