Question
General Knowledge Question on Business Finance
In 1955, the Imperial Bank of India, a leading commercial bank of India of that time, was nationalised and renamed as
A
Central Bank of India
B
Bank of India
C
Indian Bank
D
State Bank of India
Answer
State Bank of India
Explanation
Solution
In 1955, the Imperial Bank of India was nationalized and renamed as the State Bank of India (SBI). This change was part of a broader effort to strengthen and modernize the banking sector in India, making SBI the largest bank in the country and a key player in the financial system.
The correct answer is (D) : State Bank of India