Question : Reserve Bank of India was nationalised in:
Option 1: 1947
Option 2: 1948
Option 3: 1949
Option 4: 1951
Correct Answer: 1949
Solution : The correct answer is 1949.
RBI was established under the Reserve Bank of India Act 1934. It was established on the recommendation of Hilton Young Commission also known as Royal Commission on Indian Currency and Finance. It was nationalised on 1st January 1949 on the basis of Reserve Bank of India (Transfer of Public Ownership) Act, 1948. Sir C D Deshmukh became the first governor of RBI after nationalisation. Presently Mr. Shashikanta Das is serving as the Governor of RBI.
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