__________ was the first bank to be fully managed by Indians.

Correct option is D

The correct answer is (d) Punjab National Bank

Punjab National Bank (PNB) was the first bank to be fully managed by Indians. It was founded on May 19, 1894, in Lahore (now in Pakistan) by Lala Lajpat Rai, Lala Harkishan Lal, and other nationalists. The bank was established with the vision of promoting self-reliance in banking services, which were primarily controlled by the British at the time.

PNB played a crucial role in India’s freedom movement, as many national leaders had accounts with it. The bank remained operational after Partition in 1947, shifting its headquarters to New Delhi.

Information Booster

• Punjab National Bank was established with entirely Indian capital.
• Lala Lajpat Rai, a prominent freedom fighter, was among its founders.
• After Partition, PNB relocated its headquarters from Lahore to Delhi.
• It survived multiple financial crises and expanded globally.
• PNB merged with Oriental Bank of Commerce and United Bank of India in 2020.

Additional Knowledge

• DENA Bank – Founded in 1938; later merged with Bank of Baroda in 2019.
• Bank of India – Established in 1906 but was initially under private European management.
• Allahabad Bank – Founded in 1865, one of the oldest Indian banks, but not the first fully Indian-managed bank.