Discussion
In which year was the Reserve Bank of India established ?
Answer: A
Correct answer: 1935
The Reserve Bank began operations on 1 April 1935, under the Reserve Bank of India Act 1934, following the recommendation of the Hilton Young Commission of 1926.
Three dates cluster here and are worth separating: 1934 for the Act, 1935 for the opening, and 1949 for nationalisation. The Bank started as a shareholders' institution with its central office in Calcutta, moved to Bombay in 1937, and passed into full Government ownership on 1 January 1949.
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