GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which movement encouraged the formation of commercial banks?
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Swadeshi movement
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Quit India Movement
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Non Cooperation Movement
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Civil Disobedience Movement
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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.