Which of the following was the first bank to be established in India in the modern banking era?

Introduction / Context:
The history of modern banking in India began under colonial rule, with early banks being set up in the eighteenth century. Competitive exams often ask which was the first bank to be established in India, because this fact helps frame the timeline of financial development in the country and distinguishes between several old institutions with similar sounding names.

Given Data / Assumptions:

- The question asks for the first bank established in India. - The options are General Bank of India, Bank of Calcutta, Bank of Hindustan and Bank of Baroda. - We are dealing with modern style banks, not informal moneylenders or indigenous banking houses. - We assume the standard chronology accepted in most Indian banking history references.

Concept / Approach:
Bank of Hindustan, established around 1770, is generally regarded as the first modern bank in India. It was set up in the then Bengal Presidency and later went into liquidation. General Bank of India was founded later in the 1780s, and the Bank of Calcutta, which eventually became part of the Imperial Bank of India and later the State Bank of India, was established in 1806. Bank of Baroda is a much newer nationalised bank founded in the early twentieth century. Therefore, among the given options, Bank of Hindustan is recognised as the earliest bank.

Step-by-Step Solution:
Step 1: Recall the historical order Bank of Hindustan, General Bank of India and then Bank of Calcutta. Step 2: Note that Bank of Hindustan is generally placed around 1770, making it the earliest of these institutions. Step 3: Recognise that General Bank of India was established later, so it cannot be the first if Bank of Hindustan already existed. Step 4: Remember that Bank of Calcutta was set up in 1806, clearly after both Bank of Hindustan and General Bank of India. Step 5: Bank of Baroda dates from the twentieth century, much later than all the others, so mark Bank of Hindustan as correct.

Verification / Alternative check:
Banking history summaries used in exam preparation usually contain a chronological list of early Indian banks. These lists almost always begin with Bank of Hindustan as the first bank established in India, followed by General Bank of India and then the Presidency banks including Bank of Calcutta. Although some finer academic debates exist about definitions, general knowledge material consistently identifies Bank of Hindustan as the first, which is what matters for exam answers.

Why Other Options Are Wrong:
General Bank of India is one of the early banks but was founded after Bank of Hindustan and therefore is not the first. Bank of Calcutta is significant historically but was established in 1806, well after Bank of Hindustan. Bank of Baroda was founded in the twentieth century and is far too recent to be the first bank in India.

Common Pitfalls:
Because more attention is given to banks that survived and evolved into major modern institutions, many students remember Bank of Calcutta or later Presidency banks better than Bank of Hindustan, which no longer exists. As a result, they may incorrectly select Bank of Calcutta. To avoid this mistake, it helps to memorise a short note such as Bank of Hindustan 1770 first bank in India and then build the rest of the timeline around it.

Final Answer:
The first bank established in India in the modern banking era was the Bank of Hindustan.