WBCS.LIVE practice question

The Reserve Bank of India was established in the year

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

Answer options

  1. 1930
  2. 1935
  3. 1947
  4. 1951

Correct answer and explanation

Correct answer: 1935

Explanation: āœ… Correct Answer: B. 1935 šŸ“š Explanation: The Reserve Bank of India (RBI) was established on April 1, 1935, in accordance with the provisions of the RBI Act, 1934. It was originally a private shareholders' bank but was nationalized in 1949. The RBI serves as India's central bank and regulates the entire banking and monetary system. Its headquarters is located in Mumbai.