Multiple choice

Which bank was renamed State Bank of India?

  1. Imperial Bank of India

  2. Bank of India

  3. Indian Bank

  4. United Bank of India

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A Correct answer
Explanation

The Imperial Bank of India was renamed State Bank of India in 1955 when it was nationalized under the State Bank of India Act. The Imperial Bank had been created in 1921 by merging the three presidency banks, and its renaming marked the creation of India's largest public sector bank.