The Reserve Bank of India was established on _______.

a. April 1, 1935

b. July 12, 1982

c. May 26, 2006

d. September 30, 2005

ANSWER: April 1, 1935

Explanation:

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.