In which year was the State Bank of India (SBI) formed by nationalising and renaming the former Imperial Bank of India?

Introduction / Context:
The State Bank of India is the largest public sector bank in India and a key part of many banking and general awareness syllabi. Interview and exam questions often test whether candidates know when SBI was created through nationalisation of the Imperial Bank of India.

Given Data / Assumptions:
- The question is about the year in which SBI came into existence through nationalisation and renaming of the Imperial Bank of India.
- Several years are given as options, many of which are significant for other banking events, such as the nationalisation of major commercial banks in 1969 and 1980.
- We need to identify the historically correct year for the creation of SBI.

Concept / Approach:
The Imperial Bank of India was a major commercial bank during the British period. After independence, the government wanted a strong state controlled bank to support development. In 1955, the Reserve Bank of India acquired a controlling interest in the Imperial Bank of India, and the bank was renamed the State Bank of India. Later, in 1956, the State Bank of India Act came fully into force and associate banks were added over time. Remembering this timeline helps distinguish SBI's creation from later nationalisation waves.

Step-by-Step Solution:
Step 1: Recall that many private banks were nationalised in two major waves, in 1969 and 1980.
Step 2: Note that SBI is different because it originated from the Imperial Bank of India and involved RBI acquiring a controlling stake earlier.
Step 3: Connect this event to the year 1955, when Imperial Bank was taken over and renamed State Bank of India.
Step 4: Therefore, among the given options, 1955 is the correct year.

Verification / Alternative check:
You can cross check by matching other options with known events. The year 1969 is famous for nationalisation of 14 major commercial banks, not for the creation of SBI. The year 1980 is for nationalisation of another group of banks. The year 1995 does not match any major nationalisation milestone for SBI. This makes 1955 stand out as the correct choice.

Why Other Options Are Wrong:
Option A, 1995, is far too late and does not match the historical timeline of SBI. Option C, 1980, refers to the second phase of bank nationalisation, which did not create SBI. Option D, 1969, refers to the first phase of large scale bank nationalisation but again relates to other banks, not to the formation of SBI from the Imperial Bank of India.

Common Pitfalls:
A common confusion is to assume that SBI was created in 1969 along with other nationalised banks, because that year is very famous in banking history. Another mistake is to confuse the year of the SBI Act coming fully into effect with the specific year when the Imperial Bank was taken over and renamed. For exam and interview purposes, 1955 is the key year to remember for the nationalisation and renaming event that gave birth to the State Bank of India.

Final Answer:
Correct option: 1955.