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  1. 1947
  2. 1965
  3. 1955
  4. 1950
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1 Answers

Option 3 : 1955

The correct answer is 1955.

  • The creation of the State Bank of India in July 1955 followed the passage of the Imperial Bank of India into state ownership.  
  • In January 1921, the Imperial Bank was established as a joint-stock bank by merging the Presidency Banks of Bombay, Calcutta, and Madras. The Imperial Bank had the status of a quasi-central bank, undertaking until the formation of the Reserve Bank of India in 1935, banking functions for the Government of India and other banking institutions and managing the rupee debt of the government. 
  • The State Bank of India (SBI) is an Indian multinational public sector bank and the statutory entity that provides financial services.
  • Its headquarters are in Mumbai, Maharashtra.
  • SBI is the world's 43rd largest bank and the only Indian bank in the Fortune Global 500 list of the world's largest firms for 2020, ranking 221st. 
  • It is India's largest public sector bank, with a 23% asset market share and a 25% share of the total loan and deposit market.
  • The bank is descended from the Bank of Calcutta, which was created in 1806 via the Imperial Bank of India, making it the Indian Subcontinent's oldest commercial bank.
  • Various services offered by the State Bank of India include Personal Banking, Rural/ Agriculture, Small and Medium Enterprise (SME), Domestic Treasury, NRI Services, International Banking, Corporate Banking, Government Business, and KYC (Know Your Customer).
  • The Chairman of SBI is Mr. Dinesh Kumar Khara and the 4 Managing Directors are Ashwani Bhatia, Swaminathan J., C.S. Setty, and Ashwini Kumar Tewari.​
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