When did the Imperial Bank Of India Act come into existence?

4. When did the Imperial Bank Of India Act come into existence?

  1. 1947
  2. 1920
  3. 1895
  4. 1950

Answer: B) 1920

Explanation:

The Imperial Bank of India appeared on 27 January 1921 through the revamping and mixture of the three Presidency Banks of frontier India into a solitary financial substance. The Imperial Bank was 80% exclusive while the rest were possessed by the state.

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