Discussion
In which year the first central Bank in the world was established?
Answer: D
Correct answer: 1668
The Sveriges Riksbank, the central bank of Sweden, was established in 1668 and is the oldest in the world. It grew out of the failure of Stockholms Banco, whose over-issue of notes prompted the Riksdag to take the institution under parliamentary control.
The Bank of England followed in 1694 and became the model for most later central banks, developing the note issue, the lender of last resort function and management of the government's debt. India's own central bank, the Reserve Bank, dates only from 1935.
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