Q: 32 (IAS/2003)
question_subject:
Economics
question_exam:
IAS
stats:
0,91,121,32,91,62,27
keywords:
{'hindustan commercial bank': [0, 0, 1, 0], 'oudh commercial bank': [0, 0, 1, 0], 'first bank': [0, 0, 1, 1], 'pubjab national bank': [0, 0, 1, 0], 'sind bank': [0, 0, 1, 0], 'limited liability': [0, 0, 1, 1], 'punjab': [2, 0, 1, 0], 'india': [8, 1, 7, 13], 'indians': [8, 3, 13, 29]}
The Oudh Commercial Bank was indeed the first bank of limited liability managed by Indians in India. It was established in 1881 in Faizabad, Oudh (present-day Uttar Pradesh), during the British colonial period. The bank was founded by Raja Jivan Rai Kapoor, a prominent Indian businessman.
The Oudh Commercial Bank played a significant role in providing banking services to the local population and supporting trade and commerce in the region. However, it faced financial challenges and eventually merged with Punjab National Bank in 1950.