In India, the first Bank of limited liability managed by Indians and founded in 1881 was:
✓ Correct answer: b) Oudh Commercial Bank
ExplanationThe Oudh Commercial Bank, founded in 1881 in Faizabad, Uttar Pradesh, was the first Indian-managed bank to be established as a limited liability company.It was created by local businessmen and marked a significant shift in India’s banking sector, which had previously been dominated by the British.The bank’s establishment highlighted the increasing involvement of Indians in economic activities, especially in banking, and it aimed to provide financial services to local industries and trade, representing a milestone in Indian- controlled commercial banking.228
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