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The Reserve Bank of India was nationalized in the year:
- a)1935
- b)1949
- c)1969
- d)1991
Correct answer is option 'B'. Can you explain this answer?
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The Reserve Bank of India was nationalized in the year:a)1935b)1949c)1...
B: 1949
The Reserve Bank of India (RBI) was nationalized in the year 1949. Prior to nationalization, the RBI was a privately-owned institution that was established in 1935.
The nationalization of the RBI was carried out through the Reserve Bank of India (Transfer to Public Ownership) Act, 1948, which came into effect on 1 January 1949. Under the act, the RBI became a state-owned institution and the government of India acquired a controlling stake in the bank.
After nationalization, the RBI continued to perform its functions as the central bank of the country, including issuing and distributing currency notes, regulating and supervising the banking system, and managing the country's monetary policy.
The RBI was not nationalized in 1935, 1969, or 1991. These are all incorrect dates.
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The Reserve Bank of India was nationalized in the year:a)1935b)1949c)1...
B: 1949
The Reserve Bank of India (RBI) was nationalized in the year 1949. Prior to nationalization, the RBI was a privately-owned institution that was established in 1935.
The nationalization of the RBI was carried out through the Reserve Bank of India (Transfer to Public Ownership) Act, 1948, which came into effect on 1 January 1949. Under the act, the RBI became a state-owned institution and the government of India acquired a controlling stake in the bank.
After nationalization, the RBI continued to perform its functions as the central bank of the country, including issuing and distributing currency notes, regulating and supervising the banking system, and managing the country's monetary policy.
The RBI was not nationalized in 1935, 1969, or 1991. These are all incorrect dates.
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The Reserve Bank of India was nationalized in the year:a)1935b)1949c)1969d)1991Correct answer is option 'B'. Can you explain this answer?
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