What was the name of State Bank of India (SBI) before it was created by SBI Act?
What was the name of State Bank of India (SBI) before it was created by SBI Act?
[A]Imperial Bank of Hindustan
[B]Imperial Bank of Bengal
[C]Imperial Bank of Madras
[D]Imperial Bank of India
Imperial Bank of India The Presidency banks viz. Bank of Bengal, Bank of Bombay and Bank of Madras amalgamated on January 27, 1921 and the Imperial Bank of India was formed under the Imperial Bank of India Act, 1920. After Independence, the Imperial Bank of India was nationalized under the State Bank of India Act, 1955 and State Bank of India (SBI) was formed.