Multiple choice

R.B.I. was nationalised in the year

  1. 1935

  2. 1947

  3. 1949

  4. 1951
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Reserve Bank of India (RBI) was nationalized on January 1, 1949, under the RBI Act, 1948. Prior to this, it was privately owned with shareholders. The RBI was originally established in 1935. Nationalization gave the government complete control over India's central banking and monetary policy functions.

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