New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Which is India’s oldest joint stock bank that is

    still operational?
    A UCO Bank Correct Answer Incorrect Answer
    B Allahabad Bank Correct Answer Incorrect Answer
    C State Bank of India Correct Answer Incorrect Answer
    D Punjab National Bank Correct Answer Incorrect Answer
    E Indian Overseas Bank Correct Answer Incorrect Answer

    Solution

    The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though. That honour belongs to the Bank of Upper India, which was established in 1863 and survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Simla.

    Practice Next