Question : State Bank of India was previously known as:
Option 1: Imperial Bank of India
Option 2: Canara Bank
Option 3: Syndicate Bank
Option 4: Co- operative
Correct Answer: Imperial Bank of India
Solution : The correct option is Imperial Bank of India.
The Imperial Bank of India operated from 1921 to 1955. It came into existence through the merger of three presidency banks: the Bank of Calcutta, the Bank of Bombay, and the Bank of Madras. In 1955, as part of the government's initiative to nationalize major banks, the Imperial Bank of India underwent a transformation, emerging as the State Bank of India (SBI). Today, SBI stands as one of India's largest and most prominent banks.
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