Consider the following events : 1. The first democratically elected communist party government formed in a State in India. 2. India's then largest bank, 'Imperial Bank of India', was renamed 'State Bank of India'. 3. Air India was nationalised and became the national carrier. 4. Goa became a part of independent India. Which of the following is the correct chronological sequence of the above events?

1. The question requires arranging the given historical events in the correct chronological sequence. 2. Event 3: Air India was nationalised under the Air Corporations Act in 1953, becoming the national carrier for international routes. 3. Event 2: The Imperial Bank of India, India's then largest bank, was nationalised and renamed the State Bank of India (SBI) in July 1955. 4. Event 1: The first democratically elected communist party government was formed in the state of Kerala in April 1957, led by E. M. S. Namboodiripad. 5. Event 4: Goa was annexed by India from Portuguese rule through Operation Vijay in December 1961, becoming a part of independent India. 6. Therefore, the correct chronological sequence of the events is 1953 (Event 3), 1955 (Event 2), 1957 (Event 1), 1961 (Event 4), which corresponds to the sequence 3-2-1-4.