Question

Arrange the following events in their correct order, which are related to the development of the banking system in India -
(a) Establishment of Oudh Commercial Bank
(b) Establishment of State Bank of India
(c) Nationalization of Reserve Bank of India
(d) Nationalization of banks
(e) Establishment of Reserve Bank of India

• A. e > a > c > b > d
• B. b > e > c > a > d
• C. a > e > c > b > d
• D. d > b > e > c > a

Hint:

Chronological ordering questions often require knowledge of key historical dates. For the development of the Indian banking system, it's important to remember dates related to the establishment of major banks (like RBI, SBI) and significant policy changes (like nationalization).

Answer 1

The Correct Option is C

Step 1: Identify the year of establishment or occurrence for each event related to the Indian banking system.
(a) Establishment of Oudh Commercial Bank: This was one of the earliest Indian joint-stock banks, established in 1881. It was the first commercial bank in India to be owned and managed by Indians, although it later failed in 1958.
(b) Establishment of State Bank of India (SBI): The State Bank of India was formed in 1955 by nationalizing the Imperial Bank of Indi(A)
(c) Nationalization of Reserve Bank of India (RBI): The Reserve Bank of India, which was established in 1935 as a private shareholders' bank, was nationalized by the Government of India on 1 January 1949.
(d) Nationalization of banks: The first major nationalization of commercial banks in India took place in 1969, when 14 major commercial banks were nationalize(D) Another batch of 6 banks was nationalized in 1980.
(e) Establishment of Reserve Bank of India (RBI): The Reserve Bank of India was established on 1 April 1935 under the Reserve Bank of India Act, 1934.
Step 2: Arrange the events in chronological order from earliest to latest.
Based on the years identified in Step 1:
1. (a) Establishment of Oudh Commercial Bank (1881)
2. (e) Establishment of Reserve Bank of India (1935)
3. (c) Nationalization of Reserve Bank of India (1949)
4. (b) Establishment of State Bank of India (1955)
5. (d) Nationalization of banks (1969)
Thus, the correct chronological order is: a $\rightarrow$ e $\rightarrow$ c $\rightarrow$ b $\rightarrow$ (D) Step 3: Match the derived order with the given options.
Option A: e > a > c > b > d (Incorrect)
Option B: b > e > c > a > d (Incorrect)
Option C: a > e > c > b > d (Matches the derived sequence)
Option D: d > b > e > c > a (Incorrect)
The final answer is $\boxed{\text{a \rightarrow e \rightarrow c \rightarrow b \rightarrow d}}$.