Question
When was the Reserve Bank of India
nationalized?Solution
The Reserve Bank of India was nationalized on January 1, 1949, transitioning from a privately-held institution to full government ownership. This strategic nationalization occurred shortly after India's independence and represented a critical component of the country's economic reforms. The nationalization ensured that monetary policy would be aligned with national interests rather than private sector priorities. Today, the RBI serves multiple crucial functions: formulating monetary policy, issuing currency, supervising financial institutions, maintaining financial stability, managing foreign exchange reserves, and acting as the lender of last resort during economic crises. The bank's transition to public ownership has enabled it to implement important initiatives including rural banking expansion and guided credit distribution in support of India's economic development objectives.
What is the Minimum Support Price (MSP) for Raw Jute for the 2024-25 season, as approved by the Cabinet Committee on Economic Affairs?
In the network layer, in what form is data transferred across the logical network path?
Who is responsible for the Ministry of Road Transport & Highways?
The ‘NAMASTE’ scheme is a collaborative initiative launched by the Ministry of Housing and Urban Affairs and which other ministry?
Consider the following statements about Yellow Sea:
1. Recently, A US warship was crashed into Yellow Sea waters.
2. It ...
In the Global Drug Policy Index 2021 what was India’s rank?
Where will the 2025 United Nations Public Service Forum be held?
SBM Bank (India) has raised ______ through the issuance of the second tranche of Basel-III compliant tier II bonds in January 2023.
Which state's tourism board has partnered with Starscapes for the Nakshatra Sabha initiative?
What percentage of operational waste did Hindalco recycle in FY24?
Relevant for Exams:
