Question

After the formation of RBI in 1935, the central banking function of Imperial Bank of India where handed over to RBI and the Imperial Bank of India began functioning as a ---.

• A. investment bank
• B. central bank
• C. commercial bank
• D. development bank

Answer 1

Answer:

C. commercial bank

Commercial Banking And Central Banking: After the formation of RBI in 1935, the central banking function of Imperial Bank of India where handed over to RBI and Imperial Bank of India function as commercial bank.