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_______ is the central bank of India that controls all the banks in the country.
1. SBI
2. Union Bank
3. CBI
4. RBI

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Correct Answer - Option 4 : RBI

The correct answer is RBI

  • About RBI:
    • The Reserve Bank of India was established on 1st April 1935.
    • It is the central bank of India that controls all the banks in the country.
    • Was established on the recommendation of the Hilton Young Commission.
    • The RBI was nationalized with effect from 1st January 1949.
    • Four local boards of RBI are located in four regions of the country Mumbai, Delhi, Chennai, and Kolkata.
    • The central office was initially established in Calcutta but was permanently moved in 1937 to Mumbai.
    • RBI is headed by the Governor, current (as of April 2021) Governor of RBI is Shri Shaktikanta Das (25th Governor)
    • The first Indian Governor of RBI was CD Deshmukh.
      • Also known as Banker's bank, Banker to the government.
    • Functions of RBI:
      1. ​Issue currency,
      2. Control credit,
      3. Acts as National Clearinghouse.
  • Raghuram Rajan (23rd) and Urjit Patel (24th) former Governor of RBI.

  • About SBI: (as of 2021) 
    • State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body.
    • Headquartered in Mumbai.
    • Established in: 1955
    • Current Chairman: Dinesh Kumar Khara (as of April 2021)
  • About Union Bank: (as of 2021)
    • Headquartered in Mumbai.
    • Established in: 1919
    • MD & CEO: Shri Rajkiran Rai G.
  • About CBI: (as of 2021)
    • CBI is the premier investigative agency in the country.
    • Established in 1963.
    • Current head (Intreme Chief) Praveen Sinha

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