Which among the following is the oldest joint stock bank in India?

The correct answer is Allahabad Bank.Key Points

• Joint stock banks are those banks that issue shares to the public and are owned by them..
• Option 1, Allahabad Bank, which is the oldest joint stock bank in India, established in 1865.
• Option 2, Bank of Baroda, was established in 1908, which makes it younger than Allahabad Bank.
• Option 3, Yes Bank, is a private sector bank and was founded in 2004, which makes it much younger than Allahabad Bank.
• Option 4, Punjab National Bank, was established in 1894, which is only one year younger than Allahabad Bank. PNB is a state-owned bank and not a joint stock bank which makes it an incorrect answer to the question. 
• Therefore, the correct answer is option 1, Allahabad Bank.​

Additional Information

• Option 1: Allahabad Bank
  • It was established in 1865 in Allahabad, Uttar Pradesh.
  • The bank was nationalized in 1969.
  • Currently, it is a subsidiary of Indian Bank.
  • Allahabad Bank has a wide network of branches and ATMs across India.
• Option 2: Bank of Baroda
  • Bank of Baroda was established in 1908 in Baroda, Gujarat.
  • It is a state-owned bank and was nationalized in 1969.
  • Bank of Baroda has a presence in over 25 countries.
  • It is the second-largest public sector bank in India.
• Option 3: Yes Bank
  • Yes Bank was founded in 2004 by Rana Kapoor and Ashok Kapur.
  • It is a private sector bank and is headquartered in Mumbai.
  • Yes Bank offers a wide range of banking and financial services.
  • The bank faced financial troubles in 2019 and was bailed out by a consortium of banks led by State Bank of India.
• Option 4: Punjab National Bank
  • Punjab National Bank was established in 1894 in Lahore, Punjab (now in Pakistan).
  • It is a state-owned bank and was nationalized in 1969.
  • PNB has a wide network of branches and ATMs across India.
  • The bank faced a major fraud in 2018 involving the jeweler Nirav Modi.