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WBCS Main Examination 2023 — Paper V: Indian Constitution and Economy · Question 120 of 200

Q120
Indian EconomyMoney, Banking & Financial Institutions
In which year was the Reserve Bank of India nationalised?
  1. a.1935
  2. b.1956
  3. c.1949
  4. d.1961

Answer: (C) 1949

The RBI, set up as a shareholders' bank in 1935, was nationalised on 1 January 1949 under the RBI (Transfer to Public Ownership) Act, 1948. 1935 is its founding year, so (A) is the tempting wrong option.

Q119 Whole paperQ121