​Which is the largest Indian public sector bank?​

Correct option is B

Sol: The correct answer is (b) State Bank of India

Key Points:

• ​The largest Indian public sector bank is State Bank of India (SBI).
  
• SBI is not only the largest public sector bank in India but also one of the largest banks in Asia and globally.
•  Founded in 1806 as the Bank of Calcutta, it has a rich heritage and has undergone several transformations, including nationalization and mergers with its associate banks.
• SBI operates over 22,500 branches and has a vast network of ATMs, serving a customer base of approximately 50 crore.
• As of recent data, SBI holds a significant market share in both deposits and advances in the Indian banking sector.

Information booster:

Banking Regulation Act, 1949:

• The Banking Regulation Act, 1949 is a key piece of legislation in India that governs the functioning of banks and provides a regulatory framework for the banking sector
  
• The Act was enacted on 10 March 1949 and came into force on 16 March 1949.
• It was introduced to regulate banking companies in India, ensuring the safety of depositors' interests and maintaining public confidence in the banking system.

​The Act includes various provisions regarding:

• Licensing of banks
• Maintenance of cash reserves
• Restrictions on non-banking activities
• Procedures for liquidation and mergers of banks