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When did the Imperial Bank Of India Act come into existence?
4. When did the Imperial Bank Of India Act come into existence?
- 1947
- 1920
- 1895
- 1950
Answer: B) 1920
Explanation:
The Imperial Bank of India appeared on 27 January 1921 through the revamping and mixture of the three Presidency Banks of frontier India into a solitary financial substance. The Imperial Bank was 80% exclusive while the rest were possessed by the state.