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Question
Which of the following was a government-owned bank operating in India before 1969?
Which of the following was a government-owned bank operating in India before 1969?
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Solution
The correct option is B State Bank of India
Before 1969, most banks in India were operating under private ownership. For example, Allahabad Bank, Bank of India, Central Bank of India, Indian Bank, and United Bank of India. On the other hand, the State Bank of India or the SBI was operating as a public sector bank under the ownership of the government.
Before 1969, most banks in India were operating under private ownership. For example, Allahabad Bank, Bank of India, Central Bank of India, Indian Bank, and United Bank of India. On the other hand, the State Bank of India or the SBI was operating as a public sector bank under the ownership of the government.
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