Multiple choice

Imperial Bank was transformed into

  1. Reserve Bank of India

  2. State Bank of India

  3. Subsidiary Bank

  4. Union Bank of India
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Imperial Bank of India was transformed into the State Bank of India in 1955 through the State Bank of India Act 1955. The Imperial Bank itself was created in 1921 by merging the three presidency banks. The SBI became India's largest commercial bank and remains so today. The Reserve Bank is the central bank, not a commercial bank, while Union Bank and Subsidiary Bank are other banking entities.

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