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The Reserve Bank of India was established in which year?
1935
1947
1950
1930
1935
The Reserve Bank of India (RBI) was established on April 1, 1935, under the Reserve Bank of India Act, 1934. It was set up on the recommendation of the Hilton Young Commission, also known as the Royal Commission on Indian Currency and Finance.
The Reserve Bank of India (RBI) was established on April 1, 1935, under the Reserve Bank of India Act, 1934. It was set up on the recommendation of the Hilton Young Commission, also known as the Royal Commission on Indian Currency and Finance.
The RBI was originally established as a private shareholders' bank in 1935 and was subsequently nationalized on January 1, 1949, under the Reserve Bank (Transfer to Public Ownership) Act, 1948.
Established on April 1, 1935, based on the recommendations of the Hilton Young Commission.
Initially headquartered in Kolkata (Calcutta), its central office was permanently moved to Mumbai in 1937.
Nationalized on January 1, 1949, following India's independence.
Sir Osborne Smith was appointed as the first Governor of the Reserve Bank of India, and C. D. Deshmukh was the first Indian Governor.
Option B (1947) marks the year of India's independence, not the establishment of the RBI.
Option C (1950) is the year the Constitution of India came into effect and the Republic of India was established.
Option D (1930) is incorrect as the Hilton Young Commission submitted its report in 1926 and the RBI Act was enacted later in 1934.
A is correct тАФ The Reserve Bank of India was established on April 1, 1935, under the provisions of the Reserve Bank of India Act, 1934.
In Indian Economy and Polity questions, always distinguish between a regulatory body's establishment year (such as RBI in 1935 or SEBI in 1988/1992) and its nationalization year to avoid confusion in exam trap questions.
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