Question

In which year was The Reserve Bank of India was established?
1. 1935
2. 1947
3. 1950
4. 1952

Answer 1

Correct Answer - Option 1 : 1935

The correct answer is 1935.

The Reserve Bank of India was established in 1935.

• RBI is known as the 'Central Bank of India' whose primary function to regulate the issue of Banknotes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country.
• RBI is also known as 'Apex Bank of India'.
• RBI is also known as 'Banker's Bank'.

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• RBI  was set up on the recommendation of the Hilton Young Commission also called the Royal Commission in 1926.
• RBI Act was passed in the year - 1934
• RBI was established on 1^st April 1935.
• RBI was nationalized on 1^st January 1949.
• RBI issues all currency notes except one rupee.
• The signature of the RBI Governor on the notes is in English and Hindi.
• The currency notes except one rupee hold the signature of the RBI Governor.
• One rupee holds the signature of the Finance Secretary.

• The first Governor of RBI -  Sir Osborne Smith
• The first Indian Governor of RBI - C. D. Deshmukh
• The longest-serving RBI Governor - Benegal Rama Rao
• The Indian Prime Minister who had served as RBI Governor - Dr. Manmohan Singh
• Present and 25^h Governor of RBI - Shakthikanta Das
• Deputy Governors of RBI - B. P. Kanungo, S. M. K Jain, M. D. Patra, and M. R. Rao.
• Headquarter - Mumbai