Multiple choice

In which of the following years did Reserve Bank of India (RBI) become a state owned institution?

  1. 1972

  2. 1949

  3. 1954

  4. 1956
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Reserve Bank of India was nationalized and became a state-owned institution on January 1, 1949, under the RBI Act of 1948. Before this, it was a private bank though it had been established in 1935. 1949 is the correct year when it came under full government ownership.

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