The Govt passed the SBI (subsidiary Banks) Act, in ---.
A1965
B1955
C1959
D1971
Answer:
C. 1959
Read Explanation:
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.
1955 SBI Act (Nationalisation by forming Imperial Bank)
SBI formed during 1st five year plan.
AIRCSC recommended formation of SBI
State Bank Day - 1st July
Present Chairman: Dinesh Kumar Khara
In 1959, the Govt passed the SBI (subsidiary Banks) Act, which made & Subsidiary Banks for SBI