Question
Download Solution PDFImperial Bank of India was renamed as State Bank of India after nationalization in the year ________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1955.
- Imperial Bank of India was renamed as State Bank of India after nationalization in the year 1955.
Additional Information
- Imperial Bank of India was established on 27 January 1921.
- It was founded by J. M. Keynes.
- It was done by merging three presidency banks into a single banking entity-
- Bank of Bengal (2 June 1806)
- Bank of Bombay (15 April 1840)
- Bank of Madras (1 July 1843)
- The Imperial Bank was nationalized in 1955 on the recommendation of the Gorewala Committee and renamed as State Bank of India.
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