Question

Consider the following statements regarding the history of State Bank of India. You are requested to identify the wrong statement.

• A. The Bank of Calcutta was set up by the English East India Company in 1806
• B. The Bank of Bengal, Bombay and Madras were governed by royal charters and had private share holdings
• C. Bank of Bengal was formed in 1809 to take over Bank of Calcutta
• D. The Bank of Bengal, Bombay and Madras were having the right to issue notes

Answer 1

Answer:

C. Bank of Bengal was formed in 1809 to take over Bank of Calcutta

The Bank of Calcutta was established in 1806, and it was later merged with the Bank of Bengal in 1921, not the other way around. Correct historical sequence: - Bank of Calcutta (1806) - Bank of Bengal (1809) - Bank of Bombay (1840) - Bank of Madras (1843) In 1921, the three presidency banks (Bengal, Bombay, and Madras) merged to form the Imperial Bank of India. In 1955, the Imperial Bank of India was nationalized and renamed the State Bank of India.