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

    Question

    When was the Reserve Bank of India (RBI)

    established?
    A 1925 Correct Answer Incorrect Answer
    B 1935 Correct Answer Incorrect Answer
    C 1947 Correct Answer Incorrect Answer
    D 1950 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) was established on April 1, 1935, under the Reserve Bank of India Act, 1934, during the British colonial period. Initially set up as a private shareholders' bank, it was nationalized in 1949 after India's independence. The RBI serves as India's central banking institution, responsible for regulating the monetary and financial system, managing foreign exchange, issuing currency, and implementing monetary policy. Its establishment represented a significant milestone in organizing India's financial infrastructure, which continues to evolve with the country's economic development.

    Practice Next