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UPSC 2003: In India, the first bank of limited liability managed by Indians and founded in 1881 was
(a)Hindustan Commercial Bank
(b)Oudh Commercial Bank
(c)Punjab National Bank
(d)Punjab and Sind Bank
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Not attemptedCorrect Answer: (b) Oudh Commercial Bank
The Oudh Commercial Bank, founded at Faizabad in 1881, was the first Indian-managed commercial bank with limited liability. The other listed banks were set up later: Punjab National Bank in 1894, Hindustan Commercial Bank in 1948, and Punjab & Sind Bank in 1908. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Oudh_Commercial_Bank?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2003 Indian Economy question?▼
The correct answer is option (b): Oudh Commercial Bank. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Banking & Financial Sector question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2003, GS Paper 1, as Question 32. It falls under Indian Economy > Banking & Financial Sector.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from Banking & Financial Sector?▼
UPSC has asked 48 questions from Banking & Financial Sector (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.