New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    Shares of Reserve Bank of India are held by:

    i)Central Government ii)State Governments iii)State Bank of India
    A 1. Only i Correct Answer Incorrect Answer
    B 2. Only ii & iii Correct Answer Incorrect Answer
    C 3. Only i, ii & iii Correct Answer Incorrect Answer
    D 4. Only i & ii Correct Answer Incorrect Answer
    E 5. All of the above Correct Answer Incorrect Answer

    Solution

    The RBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949 and 100% shares are with Central Government.

    Practice Next

    Relevant for Exams: