Presidency Banks were amalgamated in
A1947
B1935
C1921
D1911
Answer:
C. 1921
Read Explanation:
Evolution of Banking in India:
- The first bank in India, the Bank of Hindustan was established in 1770 in Calcutta started by Alexander and Co. (failed 1832)
- Next came General Bank of India established in 1786.
- The East India Company established the Bank of Bengal in 1809.
- Bank of Bombay was established in 1840
- Bank of Madras was established in 1843,.
- These three banks were generally called Presidency Banks.
- These three banks were amalgamated in 1921 and the Imperial Bank of India was established.
- The imperial bank was nationalised in 1955 and renamed it as SBI. (July 1 1955 as per the recommendation of Gorwala committee)