New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    When was the Reserve Bank of India

    nationalized?
    A 1954 Correct Answer Incorrect Answer
    B 1949 Correct Answer Incorrect Answer
    C 1950 Correct Answer Incorrect Answer
    D 1952 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India was nationalized on January 1, 1949. Prior to this date, the RBI (established in 1935) was privately owned with shareholders, but after nationalization, it came under full government ownership. This transition was a significant step in giving the government control over monetary policy and ensuring a unified approach to managing India's economy. The nationalization was part of broader economic reforms undertaken after India's independence, aimed at aligning the central bank's objectives with national interests.

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