GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In India, the first bank of limited liability manages by Indians and founded in 1881 was
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Hindustan Commercial Bank
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Oudh Commercial Bank
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Punjab National Bank
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Punjab and Sind Bank
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Explanation:
Detailed explanation-1: -Oudh Commercial Bank was established in 1881 in Faizabad. It was the first commercial bank of limited liability. This bank was entirely managed by Indian Board of Directors. It failed in 1958.
Detailed explanation-2: -The first bank purely managed bu Indian was Punjab National Bank, established in Lahore in 1895.
Detailed explanation-3: -The oldest commercial bank in India, SBI originated in 1806 as the Bank of Calcutta. Three years later the bank was issued a royal charter and renamed the Bank of Bengal.
Detailed explanation-4: -The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad.
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