{"id":32626,"date":"2024-04-15T09:04:29","date_gmt":"2024-04-15T09:04:29","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32626"},"modified":"2024-04-15T09:04:29","modified_gmt":"2024-04-15T09:04:29","slug":"which-is-the-first-indian-commercial-bank-that-was-fully-owned-and-managed-by-indians","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-is-the-first-indian-commercial-bank-that-was-fully-owned-and-managed-by-indians\/","title":{"rendered":"Which is the first Indian Commercial Bank that was fully owned and managed by Indians?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;State Bank of India&#8221; option2=&#8221;Allahabad Bank&#8221; option3=&#8221;Central Bank of India&#8221; option4=&#8221;Canara Bank&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>D. Canara Bank<\/strong><\/p>\n<p>Canara Bank was founded in 1865 by Shri Ammembal Subba Rao Pai, a visionary banker and philanthropist. It was the first Indian commercial bank that was fully owned and managed by Indians. The bank started its operations with a paid-up capital of Rs. 2.5 lakhs and a branch at Mangalore.<\/p>\n<p>Canara Bank has a long and rich history of over 150 years. It has played a significant role in the development of the Indian economy. The bank has a wide network of branches and ATMs across India. It also has a presence in a number of foreign countries.<\/p>\n<p>Canara Bank is a leading player in the Indian banking sector. It offers a wide range of products and services to its customers. The bank is committed to providing its customers with the best possible banking experience.<\/p>\n<p>Here is a brief description of each option:<\/p>\n<ul>\n<li><strong>State Bank of India<\/strong> was founded in 1806 by the British East India Company. It is the largest commercial bank in India. The bank is owned by the Government of India.<\/li>\n<li><strong>Allahabad Bank<\/strong> was founded in 1865 by a group of Indian businessmen. It is the second oldest commercial bank in India. The bank is headquartered in Allahabad, Uttar Pradesh.<\/li>\n<li><strong>Central Bank of India<\/strong> was founded in 1911 by a group of Indian businessmen. It is the third oldest commercial bank in India. The bank is headquartered in Mumbai, Maharashtra.<\/li>\n<li><strong>Canara Bank<\/strong> was founded in 1865 by Shri Ammembal Subba Rao Pai, a visionary banker and philanthropist. It was the first Indian commercial bank that was fully owned and managed by Indians. The bank started its operations with a paid-up capital of Rs. 2.5 lakhs and a branch at Mangalore.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;State Bank of India&#8221; option2=&#8221;Allahabad Bank&#8221; option3=&#8221;Central Bank of India&#8221; option4=&#8221;Canara Bank&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32626","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which is the first Indian Commercial Bank that was fully owned and managed by Indians?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-is-the-first-indian-commercial-bank-that-was-fully-owned-and-managed-by-indians\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which is the first Indian Commercial Bank that was fully owned and managed by Indians?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;State Bank of India&#8221; 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