BANKING GENERAL KNOWLEDGE
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Question
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What were the correct locations of three presidency banks during British India?
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Calcutta, Madras, Bombay
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Surat, Calcutta, Madras
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Surat, Madras, Bombay
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Bombay, Calcutta, Surat
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Explanation:
Detailed explanation-1: -The Presidency Banks were the Bank of Bengal, established on 2 June 1806, the Bank of Bombay (incorporated on 15 April 1840), and the Bank of Madras (incorporated on 1 July 1843).
Detailed explanation-2: -By the mid-18th century, three presidency towns: Madras, Bombay and Calcutta, had grown in size. During the period of Company rule in India (1757–1858), the company gradually acquired sovereignty over large parts of India, now called “presidencies".
Detailed explanation-3: -The Imperial Bank of India, which became the State Bank of India after independence, came into existence on January 27, 1921.
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