What is the name of the state bank of india(SBI) at first?

Question

What is the name of the state bank of india(SBI) at first?

Answer 1

Bank of Calcutta, established 1806.

Answer 2

The roots to the State Bank of India are traceable to the first decade of 19th century, when the Bank of Calcutta, later renamed as the Bank of Bengal, was established on 2nd June 1806. The Bank of Bengal and two other Presidency banks, namely, the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1st July 1843) were amalgamated on 27th January 1921, and the reorganized banking entity was named the Imperial Bank of India. All these Presidency banks were incorporated as Joint stock companies, and were the result of the royal charters. The Imperial Bank of India continued to remain a joint stock company. Until the establishment of a central bank in India the Imperial Bank and its early precessors served as the nation's central bank printing currency.

The Reserve Bank of India, which is the central banking organization of India, in the year 1955, acquired a controlling interest in the Imperial Bank of India and the Imperial Bank of India was christened on 30th April 1955 as the State Bank of India. This acquisition of the controlling interest was done pursuant to the provisions of the State Bank of India Act 1955, an Act enacted by the Parliament of India.

    * June 2, 1806: The Bank of Calcutta established.

    * January 2, 1809: redesigned as Bank of Bengal

    * April 15, 1840: Bank of Bombay established.

    * July 1, 1843: Bank of Madras established.

    * 1861: Paper Currency Act passed

    * January 27, 1921: all 3 banks amalgamated to form Imperial Bank of India

    * July 1, 1955: State Bank of India formed; becomes the first Indian bank to be nationalised.

    * 1959 : State Bank of India (Subsidiary Banks) Act passed, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries.