Exams › IBPS PO › General Awareness

When was the RBI nationalized?

1. 1935
2. 1947
3. 1949
4. 1950

Correct answer: 1949

Solution

The Reserve Bank of India was established in 1935 as a private entity. Post-independence, it was nationalized on January 1, 1949 under the RBI (Transfer to Public Ownership) Act, 1948.

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