Q1. Which was the only nationalised bank in India before 1969?
- (a) SBI
- (b) Bank of Baroda
- (c) Central Bank of India
- (d) Allahabad Bank
Answer & solution
Answer: (a) SBI
State Bank of India (SBI) was the only nationalised bank in India before 1969. It was established in 1955 when the Imperial Bank of India was nationalised and renamed SBI. In 1969, the government nationalised 14 major commercial banks under Prime Minister Indira Gandhi.
Why other options are wrong:
Bank of Baroda - Nationalised in 1969, not before.
Central Bank of India - Nationalised in 1969.
Allahabad Bank - Nationalised in 1969.