In which year was the State Bank of India created following the passage of the Imperial Bank of India into state ownership?
- A.1947
- B.1965
- C.1955
- D.1950
Show answer
The All India Rural Credit Survey Committee found that rural credit needed a bank with a nationwide branch network, so Parliament passed the State Bank of India Act, 1955, and the Imperial Bank of India was taken over and renamed the State Bank of India with effect from 1 July…
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