GENERAL KNOWLEDGE

Detailed explanation-1: -The first Land Development Bank was started at Jhang in Punjab in 1920. However, real progress began when the land development bank was established in Chennai in 1929.

Detailed explanation-2: -In 1920, the first LDB was launched in the city of Jhang, Punjab. However, the Land Mortgage Institutions Act, which gave these banks their true impetus in the 1930s (when LDBs were first known as Land Mortgage Banks), was passed.

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.