Question
 Reserve Bank of India was established on 1st April 1935 whereas it was nationalised in the year ____
Solution
The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on April 1, 1935 in accordance with the Reserve Bank of India Act, 1934. Following India’s independence on 15 August 1947, the RBI was nationalised on January 1, 1949.
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