Question

The Reserve Bank of India was established in the year
1. 1930
2. 1935
3. 1947
4. 1951

Answer 1

Correct Answer - Option 2 : 1935

The correct answer is 1935.

• RBI was founded on 1 April 1935, in Kolkata.
  • HQ in Mumbai.
  • Present Governor is Shaktikanta Das.
  • The RBI is responsible for implementing monetary and credit policies, issuing currency notes, being a banker to the government, a regulator of the banking system, manager of foreign exchange, and regulator of payment & settlement systems while continuously working towards the development of Indian financial markets.
  • RBI is not a Commercial Bank.
  • RBI was nationalized on 1st January 1949.

• The First Governor of RBI was Sir Osborne Smith (1935 – 1937).
• The First Indian Governor of RBI was CD Deshmukh (1943 – 1949).
• The only Prime Minister who was the Governor of RBI was Manmohan Singh (1982 – 1985).
• The First women deputy Governor of RBI was KJ Udeshi.