Question

Imperial bank was nationalized to create the State Bank of India on

• A. July 1st, 1955
• B. January 26th, 1950
• C. August 15th, 1947
• D. October 2nd, 1969

Answer 1

Answer:

A. July 1st, 1955

• RBI was nationalized on 1949, January 1
• RBI was appointed as the central bank of India in 1949.
• Banking Regulation Act was passed in 1949.
• On 1st July, 1955 SBI was nationalized and Imperial Bank takes the name as SBI
• Founder chairman of SBI - John Matthai