RBI was established on April 1, 1935
Q. The Reserve Bank of India was established on _______.- Published on 19 Oct 15
a. April 1, 1935
b. July 12, 1982
c. May 26, 2006
d. September 30, 2005
ANSWER: April 1, 1935
On April 1, 1935 the Reserve Bank of India, which is the central bank of this country, was established. It was originally started as a shareholders' bank with a share capital of Rs. 5 crore divided into shares of Rs. 100 each, fully paid-up. But since January, 1949 the Reserve Bank has been nationalised and it is now purely a concern of the State. The Government of India holds the entire share capital of the bank which has been acquired by payment of compensation to the shareholders.