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    Question

    Reserve Bank of India was established on -

    A 1) 1st April 1935 Correct Answer Incorrect Answer
    B 2) 2nd October 1950 Correct Answer Incorrect Answer
    C 3) 1st January 1882 Correct Answer Incorrect Answer
    D 4) 1st April 1921 Correct Answer Incorrect Answer
    E 5) 1st April 1975 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

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