Discussion
Imperial Bank was established on January 27,1921 on the advice of
Answer: A
Correct answer: J.M. Keynes
The Imperial Bank of India was constituted on 27 January 1921 by amalgamating the three Presidency Banks of Bengal, Bombay and Madras, following the recommendation of John Maynard Keynes, who had set out the case in his Indian Currency and Finance of 1913 and in his work on the Chamberlain Commission.
The new bank acted as the government's banker and performed some central banking functions until the Reserve Bank of India took them over in 1935. In 1955 the Imperial Bank was itself nationalised and renamed the State Bank of India.
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