GENERAL KNOWLEDGE

GK

BANKING AWARENESS AND SEBI

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which movement encouraged the formation of commercial banks?
A
Swadeshi movement
B
Quit India Movement
C
Non Cooperation Movement
D
Civil Disobedience Movement
Explanation: 

Detailed explanation-1: -Swadeshi movement, which began in 1906, encouraged the formation of a number of commercial banks.

Detailed explanation-2: -The first bank of India was the “Bank of Hindustan”, established in 1770 and located in the then Indian capital, Calcutta.

Detailed explanation-3: -Detailed Solution. The correct answer is 1955. Imperial Bank of India was renamed as State Bank of India after nationalization in the year 1955.

There is 1 question to complete.