Question

The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January?

• A. 1961
• B. 1956
• C. 1949
• D. 1921

Hint:

Remember: Presidency Banks (Bengal, Bombay, Madras) merged in 1921 → Imperial Bank of India → became State Bank of India in 1955.

Answer 1

The Correct Option is D

1. 1961 and 1956 both come after the Imperial Bank had already become the State Bank of India in 1955.
2. 1949 does not mark any presidency-bank merger event.
3. 1921 is when the Bank of Bengal, Bombay and Madras were amalgamated into the Imperial Bank of India.

The amalgamation took place in 1921.