General Awareness : Ques : Oldest Banks In India ? Answer : In 1839, some Indian merchants in Calcutta established Indias first bank known as Union Bank, but it could not survive for long and failed in 1848 due to economic crisis of 1848-49. Similarly, in 1863, Bank of Upper India was formed but it failed in 1913. In 1865, Allahabad Bank was established as a joint stock bank. This bank has survived till date and is now considered as the oldest surviving bank in India.
Posted on: Mon, 28 Jul 2014 17:57:46 +0000
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