2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Punjab National bank
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Allahabad Bank
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Bank of India
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State Bank of India
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Detailed explanation-1: -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-2: -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.
Detailed explanation-3: -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. It was the oldest still running joint stock bank in India until it’s merger.
Detailed explanation-4: -The oldest bank still in operation is the State Bank of India, whose origins can be traced back to the Bank of Calcutta, was founded in 1806, though the tenth to be founded.
Detailed explanation-5: -Allahabad Bank is the oldest Public Sector Bank of India. It was established in 1865.