Banking Awareness

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State Bank of India (Subsidiary Banks) Act was passed in:

1956

1955

1959

1960

Explanation:

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act. This made SBI subsidiaries of eight that had belonged to princely states prior to their nationalization and operational takeover between September 1959 and October 1960, which made eight state banks associates of SBI.

By: Vishal

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