Question

The oldest joint stock bank in India :

• A. State Bank of Mysore
• B. Allahabad Bank
• C. Punjab National Bank
• D. Dhanalaxmi Bank

Answer 1

Answer:

B. Allahabad Bank

• The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though.

• Key features

1. First joint stock bank in India

2. Founded by European businessmen

3. Initially focused on financing trade and commerce

4. Nationalized in 1969

5. Merged with Indian Bank in 2020