GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which Bank was established in 1881 in Faizabad, and was the first commercial bank in India having limited liability and an entirely Indian board of directors?
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Indus Commercial Bank
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Oudh Commercial Bank
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Royal Commercial Bank
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Imperial Commercial Bank
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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 Commercial Bank of India, also known as Exchange Bank was a bank which was established in Bombay Presidency (now Mumbai), in 1845 of the British Raj period.
Detailed explanation-3: -The correct answer is Punjab National Bank. The first bank fully managed by Indians was Punjab National Bank, established in 1895 in Lahore.
There is 1 question to complete.