Banking history: In which year was the first wholly Indian-owned bank established? Identify the year of establishment of the Oudh Commercial Bank, considered the first wholly Indian bank.
General Knowledge
Indian Economy
Difficulty: Easy
Choose an option
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A1865
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B1881
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C1894
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D1906
Answer
Correct Answer: 1881
Explanation
BackgroundAllahabad Bank (1865) was European-owned. The first wholly Indian-owned joint-stock bank is widely recorded as the Oudh Commercial Bank founded in 1881 at Faizabad.
Final Answer1881