WBCS.LIVE practice question

In which year did the Reserve Bank of India (RBI) start its operations?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 1934
  2. 1935
  3. 1947
  4. 1949

Correct answer and explanation

Correct answer: 1935

Explanation: āœ… Correct Answer: B) 1935 šŸ“š Explanation: The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934. It was originally started as a private shareholders' bank but was nationalized in 1949. Since its inception, the RBI has served as the central bank of the country, regulating the currency and credit system.