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    Question

      Reserve Bank of India was established on

    1st April 1935 whereas it was nationalised in the year ____
    A 1947 Correct Answer Incorrect Answer
    B 1948 Correct Answer Incorrect Answer
    C 1949 Correct Answer Incorrect Answer
    D 1955 Correct Answer Incorrect Answer
    E 1956 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on April 1, 1935 in accordance with the Reserve Bank of India Act, 1934. Following India’s independence on 15 August 1947, the RBI was nationalised on January 1, 1949.

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