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Home › Banking › Banking History & Evolution

Banking History & Evolution — Banking Questions & Practice

Practise 38 Banking History & Evolution questions from Banking for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong.

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Practice questions on Banking History & Evolution — with answers

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1. Which is widely regarded as the first bank of a modern type to be established in India, founded in 1770 by European agency houses in Calcutta?

  1. ABank of Hindustan
  2. BBank of Bengal
  3. CImperial Bank of India
  4. DState Bank of India
Show answer

Answer: A

The Bank of Hindustan, established in 1770, is widely regarded as the first bank of a modern type established in India.

2. Which was the first bank established with substantial Indian ownership and management, founded in 1894?

  1. ABank of Bengal
  2. BPunjab National Bank
  3. CAllahabad Bank
  4. DOudh Commercial Bank
Show answer

Answer: B

Punjab National Bank, established in 1894, was the first bank managed entirely by Indians with Indian capital.

3. Which is regarded as the oldest joint-stock bank in India still in existence, founded in 1865?

  1. ABank of Baroda
  2. BAllahabad Bank
  3. CCentral Bank of India
  4. DBank of India
Show answer

Answer: B

Allahabad Bank, founded in 1865, is regarded as the oldest joint-stock bank in India still functioning today (now merged into Indian Bank).

4. The three Presidency Banks (Bank of Bengal, Bank of Bombay, and Bank of Madras) were merged in 1921 to form which institution?

  1. AReserve Bank of India
  2. BImperial Bank of India
  3. CState Bank of India
  4. DCentral Bank of India
Show answer

Answer: B

The three Presidency Banks were amalgamated in 1921 to form the Imperial Bank of India, which later became the State Bank of India in 1955.

5. The Imperial Bank of India was renamed and reorganized as the State Bank of India in which year?

  1. A1949
  2. B1955
  3. C1960
  4. D1969
Show answer

Answer: B

The Imperial Bank of India was nationalized and renamed the State Bank of India in 1955.

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