BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State bank of India
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Rural bank
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Option A and B
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None of the above
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Detailed explanation-1: -State Bank of India (SBI), state-owned commercial bank and financial services company, nationalized by the Indian government in 1955. SBI maintains thousands of branches throughout India and offices in dozens of countries throughout the world. The bank’s headquarters are in Mumbai.
Detailed explanation-2: -As of 2021, the 12 Public Sector banks in India are State Bank of India, Bank of Maharashtra, UCO Bank, Punjab and Sind Bank, Bank of Baroda, Punjab National Bank, Central Bank of India, Union Bank of India, Indian Bank, Canara Bank, Indian Overseas Bank, Bank of India.
Detailed explanation-3: -Its 60% stake was bought by RBI and SBI came under the control of the Government as Public Sector Undertaking. In 1969, SBI was already under the control of the government hence there was no need to nationalize it. Therefore, although SBI is a Public Sector Bank but is not included in the list of nationalized banks.
Detailed explanation-4: -The 12 nationalised banks include Punjab National Bank (PNB), Bank of Baroda (BoB), Bank of India (BoI), Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank (IOB), Punjab, and Sind Bank, Indian Bank, UCO Bank, Bank of Maharashtra, and State Bank of India (SBI).