Discussion
Which of the following banks was inaugurated by Mahatma Gandhi in 1919?
Answer: D
Correct answer: Union Bank of India
Union Bank of India was founded in Mumbai in 1919, and its head office was inaugurated by Mahatma Gandhi.
The association reflects the swadeshi character of the enterprise: it was an Indian-owned bank founded during the national movement, at a time when the larger banks were British. Gandhi is recorded as expressing the hope that it would become a bank of the Indian people. It was nationalised in the first round of July 1969 and is today one of the largest public sector banks.
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