When was Imperial Bank of India nationalized?

Q.  Imperial Bank of India was nationalized in which year?
- Published on 16 Feb 17

a. 1945
b. 1955
c. 1949
d. 1965

ANSWER: 1955
The Imperial Bank of India was nationalized in 1955.

The largest bank, and the oldest still in existence, is the State Bank of India (S.B.I).

It originated as the Bank of Calcutta in June 1806.
In 1809, it was renamed as the Bank of Bengal.

This was one of the three banks funded by a presidency government, the other two were the Bank of Bombay and the Bank of Madras.

The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955.

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