WBCS.LIVE practice question

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

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

Answer options

  1. 1935
  2. 1947
  3. 1949
  4. 1969

Correct answer and explanation

Correct answer: 1949

Explanation: āœ… Correct Answer: C) 1949 šŸ“š Explanation: While the RBI was originally established as a private shareholders' bank in 1935 during British rule, it was fully nationalized by the Government of India on January 1, 1949, bringing the central bank under total state ownership.