Question

The Imperial Bank of India was formed on

• A. 15-8-1947
• B. 27-1-1921
• C. 26-1-1950
• D. 1-4-1935

Answer 1

Answer:

B. 27-1-1921

Imperial Bank:

• Imperial Bank Act passed in 1930 

• The three presidency 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