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In which year was RBI nationalized?

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In which year was RBI nationalized?
1). 1969
2). 1947
3). 1949
4). 1974


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Answered by on | Votes 4 |
  • RBI was nationalized in year 1949.
  • RBI full form is Reserve Bank of India and it overseas monetary functions of the country.
  • It was formed on 1st April 1935, under the ReserveBank of IndiaAct1934.
  • RBI was initially held by privateinvestors but after independence RBI was nationalized by government of India in year 1949 by passing ReserveBankofIndiaAct1948
  • HeadoftheRBI is called the Governor.
  • Headquarters: Mumbai

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