Multiple choice

Which of the following pairs is incorrectly matched?

  1. Nationalised banks - Banking Companies Act, 1969

  2. State Bank of India - SBI Act, 1955

  3. State Bank Associate Banks - State Bank (Subsidiary Banks) Act, 1955

  4. RRBs - RRB Act, 1976
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Banks that were nationalised in 1969 and 1980 draw power from Banking Companies (Acquisition and transfer of Undertakings) Act of 1969 and 1980. They are known as nationalised banks.

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