Question

The Imperial Bank of India also functioned as --- prior to the establishment of the Reserve Bank in 1935.

• A. Commercial Bank
• B. Central Bank
• C. Investment Bank
• D. Savings Bank

Answer 1

Answer:

B. Central Bank

Imperial Bank:

• Imperial Bank Act passed in 1930 

• These three banks were amalgamated form imperial bank of India on 27-1-1921 by passing Imperial Bank Act in 1920 

• The Imperial Bank of India also functioned as Central Bank prior to the establishment of the Reserve Bank in 1935