Question

Reason for conversion of Imperial Bank into State Bank was

• A. Negligence of agriculture business
• B. Misuse of power
• C. Faults in branch opening policy
• D. All of these

Hint:

Nationalization often addresses systemic inefficiencies in banking.

Answer 1

The Correct Option is D

Step 1:
The Imperial Bank of India was converted into the State Bank of India (SBI) in 1955 to address multiple issues, including neglect of agricultural financing, misuse of power, and ineffective branch policies.
Step 2:
The nationalization aimed to improve banking services and extend reach to rural areas.
Step 3:
Therefore, the correct option is (D) All of these.