Question : Which among the following is the oldest joint stock bank in India?
Option 1: Allahabad Bank
Option 2: Bank of Baroda
Option 3: Yes Bank
Option 4: Punjab National Bank
Correct Answer: Allahabad Bank
Solution : The correct option is Allahabad Bank.
Established on April 24, 1865, Allahabad Bank stands as one of India's earliest joint-stock banks. A group of Europeans founded it in Allahabad, Uttar Pradesh. The bank's initial mission was to advance trade and business within the area. Over the years, Allahabad Bank has contributed to India's economic growth and the banking industry.
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