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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.

Q: 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.

Background Allahabad 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 Answer 1881

Difficulty: Easy

1865
1881
1894
1906

Correct Answer: 1881

Explanation:

Background
Allahabad 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 Answer
1881

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