<P> The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955 . A 60 % stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India . The seven other state banks became the subsidiaries of the new bank in 1959 when the State Bank of India ( Subsidiary Banks ) Act , 1959 was passed under the Nehru government . </P>
<P> The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955 . A 60 % stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India . The seven other state banks became the subsidiaries of the new bank in 1959 when the State Bank of India ( Subsidiary Banks ) Act , 1959 was passed under the Nehru government . </P>
which is the biggest public sector bank in india
which is the biggest public sector bank in india
State Bank of India
State Bank of India