WBCS.LIVE practice question

In which year was the Reserve Bank of India (RBI) established?

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

Answer options

  1. 1935
  2. 1947
  3. 1949
  4. 1951

Correct answer and explanation

Correct answer: 1935

Explanation: āœ… Correct Answer: A) 1935 šŸ“š Explanation: The Reserve Bank of India was established on April 1, 1935, based on the recommendations of the Hilton Young Commission. It was originally established as a private shareholders' bank before being nationalized in 1949. Since then, it has served as the central banking institution controlling the monetary policy of the Indian rupee.