In which year did Punjab National Bank start operating its business?

Appeared in: DSSSB 14 August 2024

Explanation

Punjab National Bank (PNB) officially commenced its business operations on April 12, 1895.
Although the bank was founded in Lahore on May 19, 1894, the question specifically asks for the year it started operating its business.
PNB is notable for being the first bank in India managed entirely by Indians and using only Indian capital, a product of the Swadeshi movement.

Option B: The year 1885 is incorrect. While it falls within the late 19th century, a period of growing Indian nationalism, it is ten years before PNB actually began its operations.
Option C: The year 1875 is incorrect and not associated with any major milestone in the history of Punjab National Bank.
Option D: The year 1865 is incorrect. This is significantly earlier than the period when the Swadeshi movement gained momentum, which led to the establishment of institutions like PNB.

Clinical Relevance

Nursing practice connection: This is primarily an exam-oriented knowledge point with limited direct bedside application, so retain History of Banking in India as background academic context rather than a clinical decision trigger.
Questions on general awareness, including the history of major national institutions like PNB, are common in the non-nursing sections of competitive exams.
Knowing key dates and facts about prominent Indian banks and companies demonstrates a broad knowledge base essential for these exams.
What if? If the question had asked for the founding year of PNB, the correct answer would have been 1894. It is crucial to read the question carefully to distinguish between 'founding' and 'starting operations'.

How to Approach the Question

First, identify the key entities and the specific action in the question: the entity is 'Punjab National Bank' and the action is 'start operating its business'.
Recognize this as a factual recall question from the general knowledge section, specifically focusing on Indian history and economics.
Be aware of the potential nuance between a 'founding' date and a 'commencement of operations' date, as these are often different for institutions.
Scan the options. They are all in the 19th century. Recall or deduce that PNB was part of the Swadeshi movement in the late 19th century.
Based on historical facts, retrieve the correct year. PNB was founded in 1894 but started its business in 1895. Therefore, 1895 is the correct answer.

Concept Tested & Keywords

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Practise the full DSSSB 14 August 2024

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