2003 General Studies, all questions
UPSC Prelims 2003 · General Studies
Question 32: Economy and Social Development
In India, the first bank of limited liability managed by Indians and founded in 1881 was
aHindustan Commercial Bank
bOudh Commercial Bank
cPunjab National Bank
dPunjab and Sind Bank
AnswerThe answer is (b).
The Oudh Commercial Bank, founded at Faizabad in 1881, is regarded as the first bank of limited liability managed by Indians. Punjab National Bank came later (Lahore, 1894), and Punjab and Sind Bank dates from 1908. Remember the sequence: Oudh Commercial Bank (1881), Punjab National Bank (1894), Punjab and Sind Bank (1908).
Why each option is right or wrong
- (a) Not the 1881 bank; the answer is the Oudh Commercial Bank.
- (b) Correct: the Oudh Commercial Bank, founded at Faizabad in 1881.
- (c) Punjab National Bank was founded in 1894 at Lahore.
- (d) Punjab and Sind Bank dates from 1908.
Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 2003, General Studies. UPSC's own paper isn't online; the words are from a published compilation. The paper on upsc.gov.in.