Question: Which of the following is the first bank of India?
A State Bank of India (SBI)
B Bank of Hindustan
C General Bank of India
D Oudh Commercial Bank
Answer: Bank of Hindustan
| Aspect | Description |
| Name of bank | Bank of Hindustan |
| Date of establishment | 1770 |
| Location | Founded in Calcutta, India (now Kolkata) |
| Founded by | Established by Alexander and Thomas Cogan, two British businessmen. |
| Significance | Regarded as the first bank in India, marking the beginning of modern banking in the country. |
| Operations | Operated for approximately 50 years before liquidation in 1830-1832. |
| Challenges Overcome | Survived three economic crises of the 18th century, including the Recession of 1819, Failure of Palmer and Co and the Banking Crisis of 1832. |
| Note | It is noteworthy for being one of the earliest attempts at establishing a banking institution in India. |