Imperial Bank of India nationalized to the State Of India!

The bank was conceived from the Bank of Calcutta, established in 1806, by means of the Imperial Bank of India, making it the most legendary business bank in the Indian subcontinent. The Bank of Madras converged into the other two "Presidency Banks" in British India, the Bank of Calcutta and the Bank of Bombay, to shape up the Imperial Bank of India, which thus turned into the State Bank of India in 1955. The government of India-claimed the Imperial Bank of India in 1955, with Reserve Bank of (India's Central Bank) taking a 60% stake, and renamed it the State Bank of India.

Cheers!