In which year were the Subsidiaries of SBI nationalized?

a. 1955

b. 1949

c. 1959

d. 1969

ANSWER: 1959

Explanation:

The State Bank of India (Subsidiary Banks) Act was passed in 1959.

The Act enabled the State Bank of India to make the eight former State-associated banks as its subsidiaries.

Out of 8, only 5 are still working and will soon be merged with SBI.

Note that, the current five associate banks are :

• State Bank of Bikaner and Jaipur (SBBJ)
• State Bank of Hyderabad (SBH)
• State Bank of Mysore (SBM)
• State Bank of Patiala (SBP)
• State Bank of Travancore (SBT)