Question

According to the Reserve Bank of India (Transfer to Public Ownership) Act, 1948, which led to the nationalization of the Reserve Bank of India, what happened to the shares in the capital of the Bank?

A The shares were sold to private investors
B The shares were transferred to state governments
C The shares were transferred to the Central Government.
D The shares remained with the existing shareholders
E The shares were distributed among the Bank's employees.
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