WBCS.LIVE practice question

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

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

Answer options

  1. 1921
  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 (RBI), the nation's supreme central bank, was officially established on April 1, 1935. It was set up in accordance with the strict provisions of the Reserve Bank of India Act, 1934. Initially established as a privately owned bank in Calcutta, it was later nationalized by the government in 1949.