Question

Why so many banks were established mainly in Tulunadu before independence of India?

• A. Because there were ports in Tulunadu.
• B. Because Tulunadu is a coastal area.
• C. Because there were many people in Tulunadu.
• D. Because people demaded for banks.

Answer 1

The correct option is A Because there were ports in Tulunadu.

As Tulunadu is a coastal area, there were a lot of ports here. Thus, a lot of trade was taking place. More trade means more money. A lot of wealth was flowing into Tulunadu. So, there were many banks established in Tulunadu even before India gained independence like Canara, Corporation, Syndicate, Karnataka and Vijaya Banks ​​​​​​.