WBCS.LIVE practice question

Lala Lajpat Rai was the founder of which of the following banks?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Union Bank of India
  2. State Bank of India
  3. Bank of Baroda
  4. Punjab National Bank

Correct answer and explanation

Correct answer: Punjab National Bank

Explanation: āœ… Correct Answer: D) Punjab National Bank šŸ“š Explanation: Lala Lajpat Rai, the legendary nationalist leader known as 'Punjab Kesari', was one of the primary founders of the Punjab National Bank (PNB) in 1894. The bank was established as part of the early Swadeshi movement to create a purely indigenous financial institution. It was the first bank managed completely by Indians using domestic capital. Lajpat Rai's initiative aimed to reduce financial dependency on British banking houses and foster economic self-reliance.