Financial History | MCQs

Explanation

HBL Bank gave a loan to Pakistan for its first budget

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HBL was the first commercial bank to be established in Pakistan in 1947

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HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country

ND5-2-2023

Explanation

At the time of division, there was a cash balance of 4 billion rupees in the Reserve Bank of India which was to be divided between India and Pakistan in the ratio of:

17 to India

and 5 to Pakistan.

Pakistan was to receive 750 million rupees, which was initially delayed by the Indian Government.

ND22-7-2023